Waste Heat Recovery in Oil and Gas Market: An Empirical Assessment of the Trajectory of the Market
Market Definition:
The process that includes capturing of heat exhausted by
an existing industrial process is referred to as waste heat recovery. This
waste heat is used for other heating applications that include generation of
power and other applications in various industries. There are several ways of
recuperating waste heat from industries. It has been assessed that around
20%-50% of industrial energy use is ultimately released as waste heat. The
different sources of waste heat include hot combustion gases discharge into the
atmosphere and transfer of heat from hot equipment exteriors. The waste heat
recovery unit is usually a heat exchanger where the heat is recuperated from
hot streams with high energy content. The following are the widely used waste
heat recovery equipment such as HRSGs, industrial heating boilers, and
turbines.
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Market Growth and
Analysis:
The global waste heat recovery in oil and gas market is
expected to garner maximum revenue in the forecast period. Factors such as rise
in unconventional oil and gas resources such as tight oil, CBM, shale oil, and
shale gas that is in turn fuelled by the decline in the production and
exploration of conventional oil reserves is propelling the growth of this
market segment. However, stringent environment norms and technical challenges
are expected to restrain the market growth to some extent.
Market Segment:
The global waste heat recovery in oil and gas market can
be classified based on product type, application, end-user and region. On the
basis of product type, the global market is classified into power generation
and heating applications. Depending upon application, the global waste heat
recovery in oil and gas market is segmented into steam & electricity
generation, preheating, and others. According to the end-user, the global
market is divided into chemical, cement, paper & pulp, metal production,
and petroleum refining.
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Market Key
players:
The major companies that provide waste heat recovery in
oil and gas include Alstom, Amec Foster Wheeler, Dongfang Electric, Harbin
Electric, MHPS, Bono Energia, China Energy Recovery, Forbes Marshall, and Ormat
Technologies.
Regional Analysis:
Based on regions, the global waste heat recovery in oil
and gas market is divided into North America, Europe, Asia-Pacific (APAC),
Middle East & Africa (MEA), and Latin America. The North American region is
anticipated to command the maximum market share and would lead the global waste
heat recovery in oil and gas market during the forecast period. The
Asia-Pacific region is expected to witness the swiftest growth in the global
waste heat recovery in oil and gas market.
Major Points from
Table of content:
• Executive
Summary
• Research
Methodology
• Market
Dynamics
• Industry
Overview
• Global
Waste Heat Recovery in Oil and Gas Market, By Product (2017-2025)
• Global
Waste Heat Recovery in Oil and Gas Market, By Regions (2017-2025)
• Market
Competition Analysis
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