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Europe Waste Heat Recovery Systems Market
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Europe Waste Heat Recovery Systems Market Growth Opportunities and Market Forecast 2025-2033: A Strategic Analysis

Europe Waste Heat Recovery Systems Market by Application, 2021 – 2032 (USD Billion) (Pre-Heating, Electricity & Steam Generation, Other), by Temperature, 2021 – 2032 (USD Billion) (<230 °C, 230°C - 650 °C, >650 °C), by End Use, 2021 – 2032 (USD Billion) (Petroleum Refining, Cement, Heavy Metal Manufacturing, Chemical, Pulp & Paper, Food & Beverage, Glass, Others), by Europe (Germany, France, United Kingdom, Italy, Spain, Netherlands, Sweden, Norway, Switzerland) Forecast 2025-2033

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Europe Waste Heat Recovery Systems Market Growth Opportunities and Market Forecast 2025-2033: A Strategic Analysis

Key Insights

The size of the Europe Waste Heat Recovery Systems Market was valued at USD 21.4 Billion in 2023 and is projected to reach USD 34.14 Billion by 2032, with an expected CAGR of 6.9% during the forecast period. The European waste heat recovery market is expected to grow significantly by 2032 due to increasing energy costs, enhanced environmental regulations, technological advancements, and government policies. These technologies are highly profitable as they use less energy than other systems; they reduce the emission of harmful carbon gases that cause pollution while enhancing operational efficiencies. They can be found mostly in petroleum refiners, cement manufacturers, and power production. The key players in this market are BIHL, AURA, and Siemens Energy. This growth is part of the general trend toward more sustainable and efficient industrial processes.

Europe Waste Heat Recovery Systems Market Research Report - Market Size, Growth & Forecast

Europe Waste Heat Recovery Systems Market Concentration & Characteristics

The market is moderately concentrated with a few key players holding a significant market share. Innovation is a key driving force, with companies focusing on developing high-efficiency and cost-effective solutions. Regulations regarding energy efficiency and carbon emissions are influencing market growth. The industry is characterized by a high level of end-user concentration, with large industries utilizing waste heat recovery systems to reduce operating costs.

Europe Waste Heat Recovery Systems Market Trends

The rising demand for energy efficiency and sustainability is driving the adoption of waste heat recovery systems. Technological advancements, such as the development of efficient heat exchangers and control systems, are contributing to market growth. The integration of waste heat recovery systems with renewable energy sources is gaining traction.

Europe Waste Heat Recovery Systems Market Growth

Key Region or Country & Segment to Dominate the Market

Germany is expected to dominate the European market due to its strong industrial base and focus on energy efficiency. The "Petroleum Refining" end-use segment is anticipated to grow significantly, driven by the need to reduce energy consumption and emissions in the oil and gas industry.

Europe Waste Heat Recovery Systems Market Product Insights Report Coverage & Deliverables

The report provides comprehensive insights into the market, including market size, growth rates, competitive landscape, and key industry trends. It offers a detailed analysis of market segments, end-use applications, and regional dynamics. The report includes detailed profiles of leading market players and an assessment of their strategies and competitive positioning.

Europe Waste Heat Recovery Systems Market Analysis

The market size is expected to expand from USD 15.6 Billion in 2022 to USD 21.4 Billion by 2032. The pulp and paper industry is witnessing a surge in waste heat recovery adoption to optimize energy consumption and reduce production costs. The market is dominated by the United Kingdom, Germany, and France, with significant contributions from other European countries.

Europe Waste Heat Recovery Systems Market Regional Insights

  • Germany:
    • Key players: BIHL, Siemens Energy
    • Driving factors: Strong industrial base, focus on energy efficiency
  • United Kingdom:
  • Key players: AURA, Cochran
    • Driving factors: Environmental regulations, industrial growth
  • France:
    • Key players: EXERGY INTERNATIONAL SRL, Sofinter S.p.a
    • Driving factors: Government incentives, rising energy costs

Driving Forces: What's Propelling the Europe Waste Heat Recovery Systems Market

  • Increasing energy costs
  • Environmental regulations
  • Technological advancements
  • Government incentives

Challenges and Restraints in Europe Waste Heat Recovery Systems Market

  • High upfront investment costs
  • Lack of technical expertise
  • Space constraints in industrial settings

Emerging Trends in Europe Waste Heat Recovery Systems Market

  • Integration with renewable energy sources
  • Development of compact and efficient systems
  • Applications in data centers and transportation

Europe Waste Heat Recovery Systems Industry News

  • February 2024: Orcan Energy expands its Kiel facility for on-site production of WHR systems.
  • December 2023: Climeon secures a contract to implement HeatPower 300 WHR systems on two large container vessels.

Leading Players in the Europe Waste Heat Recovery Systems Market

  • BIHL
  • AURA
  • Bosch Industriekessel GmbH
  • Climeon
  • Cochran
  • Dürr Group
  • EXERGY INTERNATIONAL SRL
  • Forbes Marshall
  • Fortum
  • General Electric
  • HRS
  • MITSUBISHI HEAVY INDUSTRIES, LTD.
  • Ormat
  • Orcan Energy
  • Promec Engineering
  • Siemens Energy
  • Sofinter S.p.a
  • Viessman

Europe Waste Heat Recovery Systems Market Segmentation

  • 1. Application
    • 1.1. Pre-Heating
    • 1.2. Electricity & Steam Generation
    • 1.3. Other
  • 2. Temperature
    • 2.1. <230 °C
    • 2.2. 230°C - 650 °C
    • 2.3. >650 °C
  • 3. End Use
    • 3.1. Petroleum Refining
    • 3.2. Cement
    • 3.3. Heavy Metal Manufacturing
    • 3.4. Chemical
    • 3.5. Pulp & Paper
    • 3.6. Food & Beverage
    • 3.7. Glass
    • 3.8. Others

Europe Waste Heat Recovery Systems Market Segmentation By Geography

  • 1. Europe
    • 1.1. Germany
    • 1.2. France
    • 1.3. United Kingdom
    • 1.4. Italy
    • 1.5. Spain
    • 1.6. Netherlands
    • 1.7. Sweden
    • 1.8. Norway
    • 1.9. Switzerland

Europe Waste Heat Recovery Systems Market Regional Share

Europe Waste Heat Recovery Systems Market REPORT HIGHLIGHTS

AspectsDetails
Study Period 2019-2033
Base Year 2024
Estimated Year 2025
Forecast Period2025-2033
Historical Period2019-2024
Growth RateCAGR of 6.9% from 2019-2033
Segmentation
    • By Application, 2021 – 2032 (USD Billion)
      • Pre-Heating
      • Electricity & Steam Generation
        • Steam Rankine Cycle
        • Organic Rankine Cycle
        • Kalina Cycle
      • Other
    • By Temperature, 2021 – 2032 (USD Billion)
      • <230 °C
      • 230°C - 650 °C
      • >650 °C
    • By End Use, 2021 – 2032 (USD Billion)
      • Petroleum Refining
      • Cement
      • Heavy Metal Manufacturing
      • Chemical
      • Pulp & Paper
      • Food & Beverage
      • Glass
      • Others
  • By Geography
    • Europe
      • Germany
      • France
      • United Kingdom
      • Italy
      • Spain
      • Netherlands
      • Sweden
      • Norway
      • Switzerland
Table Of Content
  1. 1. Introduction
    • 1.1. Research Scope
    • 1.2. Market Segmentation
    • 1.3. Research Methodology
    • 1.4. Definitions and Assumptions
  2. 2. Executive Summary
    • 2.1. Introduction
  3. 3. Market Dynamics
    • 3.1. Introduction
      • 3.2. Market Drivers
        • 3.2.1 Rising focus to reduce carbon footprint
        • 3.2.2 Stringent emission norms
      • 3.3. Market Restrains
        • 3.3.1. High initial investment
      • 3.4. Market Trends
        • 3.4.1 The rising demand for energy efficiency and sustainability is driving the adoption of waste heat recovery systems. Technological advancements
        • 3.4.2 such as the development of efficient heat exchangers and control systems
        • 3.4.3 are contributing to market growth. The integration of waste heat recovery systems with renewable energy sources is gaining traction.
  4. 4. Market Factor Analysis
    • 4.1. Porters Five Forces
    • 4.2. Supply/Value Chain
    • 4.3. PESTEL analysis
    • 4.4. Market Entropy
    • 4.5. Patent/Trademark Analysis
  5. 5. Europe Waste Heat Recovery Systems Market Analysis, Insights and Forecast, 2019-2031
    • 5.1. Market Analysis, Insights and Forecast - by Application, 2021 – 2032 (USD Billion)
      • 5.1.1. Pre-Heating
      • 5.1.2. Electricity & Steam Generation
        • 5.1.2.1. Steam Rankine Cycle
        • 5.1.2.2. Organic Rankine Cycle
        • 5.1.2.3. Kalina Cycle
      • 5.1.3. Other
    • 5.2. Market Analysis, Insights and Forecast - by Temperature, 2021 – 2032 (USD Billion)
      • 5.2.1. <230 °C
      • 5.2.2. 230°C - 650 °C
      • 5.2.3. >650 °C
    • 5.3. Market Analysis, Insights and Forecast - by End Use, 2021 – 2032 (USD Billion)
      • 5.3.1. Petroleum Refining
      • 5.3.2. Cement
      • 5.3.3. Heavy Metal Manufacturing
      • 5.3.4. Chemical
      • 5.3.5. Pulp & Paper
      • 5.3.6. Food & Beverage
      • 5.3.7. Glass
      • 5.3.8. Others
    • 5.4. Market Analysis, Insights and Forecast - by Region
      • 5.4.1. Europe
  6. 6. Competitive Analysis
    • 6.1. Market Share Analysis 2024
      • 6.2. Company Profiles
        • 6.2.1 BIHL
          • 6.2.1.1. Overview
          • 6.2.1.2. Products
          • 6.2.1.3. SWOT Analysis
          • 6.2.1.4. Recent Developments
          • 6.2.1.5. Financials (Based on Availability)
        • 6.2.2 AURA
          • 6.2.2.1. Overview
          • 6.2.2.2. Products
          • 6.2.2.3. SWOT Analysis
          • 6.2.2.4. Recent Developments
          • 6.2.2.5. Financials (Based on Availability)
        • 6.2.3 Bosch Industriekessel GmbH
          • 6.2.3.1. Overview
          • 6.2.3.2. Products
          • 6.2.3.3. SWOT Analysis
          • 6.2.3.4. Recent Developments
          • 6.2.3.5. Financials (Based on Availability)
        • 6.2.4 Climeon
          • 6.2.4.1. Overview
          • 6.2.4.2. Products
          • 6.2.4.3. SWOT Analysis
          • 6.2.4.4. Recent Developments
          • 6.2.4.5. Financials (Based on Availability)
        • 6.2.5 Cochran
          • 6.2.5.1. Overview
          • 6.2.5.2. Products
          • 6.2.5.3. SWOT Analysis
          • 6.2.5.4. Recent Developments
          • 6.2.5.5. Financials (Based on Availability)
        • 6.2.6 Dürr Group
          • 6.2.6.1. Overview
          • 6.2.6.2. Products
          • 6.2.6.3. SWOT Analysis
          • 6.2.6.4. Recent Developments
          • 6.2.6.5. Financials (Based on Availability)
        • 6.2.7 EXERGY INTERNATIONAL SRL
          • 6.2.7.1. Overview
          • 6.2.7.2. Products
          • 6.2.7.3. SWOT Analysis
          • 6.2.7.4. Recent Developments
          • 6.2.7.5. Financials (Based on Availability)
        • 6.2.8 Forbes Marshall
          • 6.2.8.1. Overview
          • 6.2.8.2. Products
          • 6.2.8.3. SWOT Analysis
          • 6.2.8.4. Recent Developments
          • 6.2.8.5. Financials (Based on Availability)
        • 6.2.9 Fortum
          • 6.2.9.1. Overview
          • 6.2.9.2. Products
          • 6.2.9.3. SWOT Analysis
          • 6.2.9.4. Recent Developments
          • 6.2.9.5. Financials (Based on Availability)
        • 6.2.10 General Electric
          • 6.2.10.1. Overview
          • 6.2.10.2. Products
          • 6.2.10.3. SWOT Analysis
          • 6.2.10.4. Recent Developments
          • 6.2.10.5. Financials (Based on Availability)
        • 6.2.11 HRS
          • 6.2.11.1. Overview
          • 6.2.11.2. Products
          • 6.2.11.3. SWOT Analysis
          • 6.2.11.4. Recent Developments
          • 6.2.11.5. Financials (Based on Availability)
        • 6.2.12 MITSUBISHI HEAVY INDUSTRIES LTD.
          • 6.2.12.1. Overview
          • 6.2.12.2. Products
          • 6.2.12.3. SWOT Analysis
          • 6.2.12.4. Recent Developments
          • 6.2.12.5. Financials (Based on Availability)
        • 6.2.13 Ormat
          • 6.2.13.1. Overview
          • 6.2.13.2. Products
          • 6.2.13.3. SWOT Analysis
          • 6.2.13.4. Recent Developments
          • 6.2.13.5. Financials (Based on Availability)
        • 6.2.14 Orcan Energy
          • 6.2.14.1. Overview
          • 6.2.14.2. Products
          • 6.2.14.3. SWOT Analysis
          • 6.2.14.4. Recent Developments
          • 6.2.14.5. Financials (Based on Availability)
        • 6.2.15 Promec Engineering
          • 6.2.15.1. Overview
          • 6.2.15.2. Products
          • 6.2.15.3. SWOT Analysis
          • 6.2.15.4. Recent Developments
          • 6.2.15.5. Financials (Based on Availability)
        • 6.2.16 Siemens Energy
          • 6.2.16.1. Overview
          • 6.2.16.2. Products
          • 6.2.16.3. SWOT Analysis
          • 6.2.16.4. Recent Developments
          • 6.2.16.5. Financials (Based on Availability)
        • 6.2.17 Sofinter S.p.a
          • 6.2.17.1. Overview
          • 6.2.17.2. Products
          • 6.2.17.3. SWOT Analysis
          • 6.2.17.4. Recent Developments
          • 6.2.17.5. Financials (Based on Availability)
        • 6.2.18 Viessman
          • 6.2.18.1. Overview
          • 6.2.18.2. Products
          • 6.2.18.3. SWOT Analysis
          • 6.2.18.4. Recent Developments
          • 6.2.18.5. Financials (Based on Availability)
List of Figures
  1. Figure 1: Europe Waste Heat Recovery Systems Market Revenue Breakdown (Billion, %) by Product 2024 & 2032
  2. Figure 2: Europe Waste Heat Recovery Systems Market Share (%) by Company 2024
List of Tables
  1. Table 1: Europe Waste Heat Recovery Systems Market Revenue Billion Forecast, by Region 2019 & 2032
  2. Table 2: Europe Waste Heat Recovery Systems Market Volume Units Sold Forecast, by Region 2019 & 2032
  3. Table 3: Europe Waste Heat Recovery Systems Market Revenue Billion Forecast, by Application, 2021 – 2032 (USD Billion) 2019 & 2032
  4. Table 4: Europe Waste Heat Recovery Systems Market Volume Units Sold Forecast, by Application, 2021 – 2032 (USD Billion) 2019 & 2032
  5. Table 5: Europe Waste Heat Recovery Systems Market Revenue Billion Forecast, by Temperature, 2021 – 2032 (USD Billion) 2019 & 2032
  6. Table 6: Europe Waste Heat Recovery Systems Market Volume Units Sold Forecast, by Temperature, 2021 – 2032 (USD Billion) 2019 & 2032
  7. Table 7: Europe Waste Heat Recovery Systems Market Revenue Billion Forecast, by End Use, 2021 – 2032 (USD Billion) 2019 & 2032
  8. Table 8: Europe Waste Heat Recovery Systems Market Volume Units Sold Forecast, by End Use, 2021 – 2032 (USD Billion) 2019 & 2032
  9. Table 9: Europe Waste Heat Recovery Systems Market Revenue Billion Forecast, by Region 2019 & 2032
  10. Table 10: Europe Waste Heat Recovery Systems Market Volume Units Sold Forecast, by Region 2019 & 2032
  11. Table 11: Europe Waste Heat Recovery Systems Market Revenue Billion Forecast, by Application, 2021 – 2032 (USD Billion) 2019 & 2032
  12. Table 12: Europe Waste Heat Recovery Systems Market Volume Units Sold Forecast, by Application, 2021 – 2032 (USD Billion) 2019 & 2032
  13. Table 13: Europe Waste Heat Recovery Systems Market Revenue Billion Forecast, by Temperature, 2021 – 2032 (USD Billion) 2019 & 2032
  14. Table 14: Europe Waste Heat Recovery Systems Market Volume Units Sold Forecast, by Temperature, 2021 – 2032 (USD Billion) 2019 & 2032
  15. Table 15: Europe Waste Heat Recovery Systems Market Revenue Billion Forecast, by End Use, 2021 – 2032 (USD Billion) 2019 & 2032
  16. Table 16: Europe Waste Heat Recovery Systems Market Volume Units Sold Forecast, by End Use, 2021 – 2032 (USD Billion) 2019 & 2032
  17. Table 17: Europe Waste Heat Recovery Systems Market Revenue Billion Forecast, by Country 2019 & 2032
  18. Table 18: Europe Waste Heat Recovery Systems Market Volume Units Sold Forecast, by Country 2019 & 2032
  19. Table 19: Germany Europe Waste Heat Recovery Systems Market Revenue (Billion) Forecast, by Application 2019 & 2032
  20. Table 20: Germany Europe Waste Heat Recovery Systems Market Volume (Units Sold) Forecast, by Application 2019 & 2032
  21. Table 21: France Europe Waste Heat Recovery Systems Market Revenue (Billion) Forecast, by Application 2019 & 2032
  22. Table 22: France Europe Waste Heat Recovery Systems Market Volume (Units Sold) Forecast, by Application 2019 & 2032
  23. Table 23: United Kingdom Europe Waste Heat Recovery Systems Market Revenue (Billion) Forecast, by Application 2019 & 2032
  24. Table 24: United Kingdom Europe Waste Heat Recovery Systems Market Volume (Units Sold) Forecast, by Application 2019 & 2032
  25. Table 25: Italy Europe Waste Heat Recovery Systems Market Revenue (Billion) Forecast, by Application 2019 & 2032
  26. Table 26: Italy Europe Waste Heat Recovery Systems Market Volume (Units Sold) Forecast, by Application 2019 & 2032
  27. Table 27: Spain Europe Waste Heat Recovery Systems Market Revenue (Billion) Forecast, by Application 2019 & 2032
  28. Table 28: Spain Europe Waste Heat Recovery Systems Market Volume (Units Sold) Forecast, by Application 2019 & 2032
  29. Table 29: Netherlands Europe Waste Heat Recovery Systems Market Revenue (Billion) Forecast, by Application 2019 & 2032
  30. Table 30: Netherlands Europe Waste Heat Recovery Systems Market Volume (Units Sold) Forecast, by Application 2019 & 2032
  31. Table 31: Sweden Europe Waste Heat Recovery Systems Market Revenue (Billion) Forecast, by Application 2019 & 2032
  32. Table 32: Sweden Europe Waste Heat Recovery Systems Market Volume (Units Sold) Forecast, by Application 2019 & 2032
  33. Table 33: Norway Europe Waste Heat Recovery Systems Market Revenue (Billion) Forecast, by Application 2019 & 2032
  34. Table 34: Norway Europe Waste Heat Recovery Systems Market Volume (Units Sold) Forecast, by Application 2019 & 2032
  35. Table 35: Switzerland Europe Waste Heat Recovery Systems Market Revenue (Billion) Forecast, by Application 2019 & 2032
  36. Table 36: Switzerland Europe Waste Heat Recovery Systems Market Volume (Units Sold) Forecast, by Application 2019 & 2032

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Step Chart
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approach chart
Top-down and bottom-up approaches are used to validate the global market size and estimate the market size for manufactures, regional segemnts, product and application.

Note* : In applicable scenarios

STEP 3 - Data Sources

Primary Research

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  • Survey Reports
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  • Latest Research Reports
  • Opinion Leaders

Secondary Research

  • Annual Reports
  • White Paper
  • Latest Press Release
  • Industry Association
  • Paid Database
  • Investor Presentations
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STEP 4 - Data Triangulation

Involves using different sources of information in order to increase the validity of a study

These sources are likely to be stakeholders in a program - participants, other researchers, program staff, other community members, and so on.

Then we put all data in single framework & apply various statistical tools to find out the dynamic on the market.

During the analysis stage, feedback from the stakeholder groups would be compared to determine areas of agreement as well as areas of divergence

Additionally after gathering mix and scattered data from wide range of sources, data is triangull- ated and correlated to come up with estimated figures which are further validated through primary mediums, or industry experts, opinion leader.

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