Europe Waste Heat Recovery System Market, assessed at $20.1 billion in 2022, foresees a 7.1% CAGR 2023- 2030

1
Europe Waste Heat Recovery System Market,
assessed at 20.1 billion in 2022, foresees a
7.1 CAGR 2023- 2030.
The Europe Waste Heat Recovery System (WHRS)
Market, valued at 20.1 billion in 2022, is
poised for substantial growth with an anticipated
CAGR of 7.1 over the forecast period. As the
region intensifies its focus on sustainability
and carbon reduction, industries are increasingly
turning to WHRS to harness otherwise wasted
thermal energy from industrial processes.
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Driving Factors
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The stringent environmental regulations and
energy efficiency mandates set by the European
Union and individual member states are key
drivers for the adoption of WHRS across diverse
sectors. Economic benefits, including lower
energy costs and increased competitiveness,
further propel the market. Technological
advancements in WHRS solutions, coupled with
government incentives and subsidies, contribute
to the system's popularity in Europe's
transition to a more resource-efficient and
sustainable energy landscape. Phase System
Outlook The market is segmented into
Liquid-liquid Phase System, Liquid Gas Phase
System, and Thermal Regeneration. The
Liquid-liquid Phase System (LLPS- WHRS) segment
dominated in 2022, gaining recognition as a
viable solution for efficiently capturing and
utilizing waste heat in liquid-liquid phase
systems. Government incentives, such as grants
and subsidies, further incentivize LLPS-WHRS
integration, fostering a favorable market
environment. Application Outlook Segments
include Pre Heating, Steam Power Generation,
and others. WHRS is increasingly recognized as a
critical solution for capturing and utilizing
waste heat from power and steam generation
processes, aligning with the region's commitment
to sustainable and efficient energy
practices. End-Use Outlook The Petroleum
Refinery sector accounted for the largest share
in 2022, with WHRS emerging as a critical
technology for capturing and repurposing waste
heat generated during refining operations. The
Power Generation sector also sees increased
adoption, driven by a focus on energy efficiency
and the transition to cleaner energy
sources. Country Outlook
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• Germany leads the market in 2022, driven by
  economic imperatives and a strong commitment to
  environmental sustainability. WHRS plays a
  crucial role in optimizing energy utilization,
  aligning with Germany's Energiewende goals and
  stringent environmental regulations.
• Recent Key Developments
• In September 2023, Titan Group partnered with
  Orcan Energy to explore the development and
  deployment of innovative modular WHRS solutions
  across Titan's international cement production
  base.
• In April 2023, the EU announced plans to convert
  the heating and cooling sector to be
  carbon-neutral by 2035, utilizing renewable
  sources such as
• waste heat from data centers.
• In April 2022, E.ON and glass manufacturer AGC
  Glass Europe strengthened their collaboration
  with a project for waste heat recovery and green
  power generation at AGC's float glass plant.
• Conclusion
• With a focus on sustainability, technological
  advancements, and government support, WHRS
  stands as a key driver in Europe's pursuit of
  resource optimization and a more sustainable
  approach to power and steam generation.
• Key Companies Profiled Siemens AG, Aalborg
  Engineering Danmark ApS, Thermax Limited,
  Climeon, Dürr Cyplan Ltd., Bosch Rexroth, Ormat
  Technologies, Inc., ABB Product Group Solar,
  Mitsubishi Heavy Industries, GEA Group, Alstom
  Power, ABB
• Europe Waste Heat Recovery System Market
  Segmentation Phase System Outlook (Revenue, USD
  Billion, 2018 - 2030)
• Liquid-liquid Phase System
• Liquid Gas Phase System
• Thermal Regeneration

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• Application Outlook (Revenue, USD Billion, 2018 -
  2030)
• Pre Heating
• Steam Power Generation
• Others
• End-Use Outlook (Revenue, USD Billion, 2018 -
  2030)
• Petroleum Refinery
• Power Generation
• Cement production
• Chemical processing
• Metal Production
• Pulp Paper
• Others

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