Waste heat recovery is an energy altercation recovery process where the heat energy from the exhaust is recovered and used in other industrial processes. The processes comprise regenerators, heat pipe exchanger, power generation, and other applications in diverse industries. Approximately 20%-50% of industrial energy usage is primarily released as waste heat. The waste heat sources comprise hot incineration gases from exhaust and heat transmission from hot apparatus exteriors. The waste heat recovery unit is primarily a heat exchanger wherein the heat is recuperated from hot tributaries with great energy content. The primarily used waste heat recovery apparatus is turbines, industrial heating boilers and HRSGs.

Market Dynamics

Stringent regulations, increased government initiatives, growing environmental concern, increasing energy and electricity cost and growing unconventional oil and gas resources are some of the major factors driving the growth of this market. However, growth in process complexity and upsurge in initial capital project cost are deterring the growth of oil and gas waste heat recovery market. Some of the trends associated are declination of carbon footprint, oil and gas industry emphasis on energy recovery procedure and increasing investments from developing economies in waste heat recovery process. In addition, technological innovations in process and equipment design and building of integrated petrochemical complex are expected to provide future opportunities to this market, thus expected to propel the growth of this market in near future.

Market Segment Overview

Based on sector, in 2016, downstream was the largest market segment in oil and gas waste heat recovery market. In downstream sector, Greenfield projects are expected to surge the ultimatum of waste heat recovery process. The thermal segment, based on application is anticipated to lead the oil and gas waste to heat recovery throughout the forecast period. On the basis of end-user, the commercial end-user segment is expected to offer key business opportunity during the coming years. By equipment, in 2016, heat exchanger led the oil and gas waste heat recovery market. Geographically, North America leads the oil and gas waste heat recovery market and is anticipated to continue its domination throughout forecast period. The new offshore and shale boom projects will raise the trade of waste heat recovery units in the province. In addition, Asia-Pacific is anticipated to grow at a noteworthy rate throughout the forecast period. Also, China is anticipated to hold for the highest market share in the region.

Report coverage

The market research study on “Oil and Gas Waste Heat Recovery Market (Sector: Upstream, Midstream, Downstream; Application: Thermal, Electricity Power Generation, Others; End-User: Commercial, Residential, Others; Equipment: Heat Exchanger, Boilers, Heat Recovery Steam Generator, Turbine, Others) – Global Industry Analysis, Market Size, Opportunities and Forecast, 2017 - 2023” offers a detailed study on the oil and gas waste heat recovery market entailing insights on its different market segments. Market dynamics with drivers, restraints and opportunities with their impact analysis are provided. Information about Porter's five forces analysis is also mentioned in the report. The report provides insight on global oil and gas waste heat recovery market, its sector, application, end-users, equipment, and major geographic regions. Secondly, the report covers global oil and gas waste heat recovery market size, and segment markets by sector, application, end-user, equipment, and geography along with the information on companies operating in the market. The oil and gas waste heat recovery market analysis is provided for major regional markets including North America, Europe, Asia-Pacific, Middle East and Africa (MEA) and Rest of the World (RoW). For each region, the market sizes for different segments have been covered under the scope of report. There are large numbers of oil and gas waste heat recovery manufacturers present in the market. Some of the key manufacturers include Siemens, General Electric, Bono Energia, Dongfang Electric Corporation, Amec Foster Wheeler, ABB Group, Harbin Electric Company Limited, HRS Process Systems Limited, China Energy Recovery, Inc. and Ormat Technologies Inc., among others.

The global oil and gas waste heat recovery market is segmented as below:

• Upstream
• Midstream
• Downstream
  • Refinery
  • Petrochemical Complex
  • Others 

• Thermal
  • Pre heating
  • Steam generation
  • Others
• Electricity Power Generation
• Others

• Commercial
• Residential
• Others

• Heat Exchangers
• Boilers
• Heat Recovery Steam Generators
• Turbines
• Others

• North America
  • U.S.
  • Canada 
  • Mexico
• Europe
  • UK
  • Germany
  • France
  • Norway
  • Russia
  • Rest of Europe 
• Asia-Pacific
  • Japan
  • India
  • China
  • Australia
  • Rest of Asia-Pacific
• Middle East and Africa (MEA)
  • UAE
  • Qatar
  • Saudi Arabia
  • Rest of MEA
• Rest of the World (RoW)
  • Brazil
  • Rest of the Rest of World (RoW)