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Market Snapshot

CAGR:5.94

2023

2032

Source: Market Expertz

Study Period	2019-2032
Base Year	2023
Forcast Year	2023-2032
CAGR	5.94

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Report Overview

Oil and Gas Waste Heat Recovery Market Analysis By Application (Power Generation, Preheating of Oil, Steam Generation, Others), By Technology (Regenerative, Non-regenerative), and By Region Forecast to 2032:

The Oil and Gas Waste Heat Recovery Market is projected to experience substantial growth with a Compound Annual Growth Rate (CAGR) of 6.12% between 2022 and 2032. This growth is expected to result in an estimated increase of USD 8,765.43 million in market size. The expansion of this market is influenced by several key factors, including the increasing focus on energy efficiency, stringent environmental regulations, and the need to reduce greenhouse gas emissions in the oil and gas industry. Waste heat recovery systems in the oil and gas sector help capture and utilize thermal energy that would otherwise go to waste.

Oil and Gas Waste Heat Recovery Market Overview:

Drivers:

One of the primary drivers fueling the growth of the Oil and Gas Waste Heat Recovery Market is the growing emphasis on energy efficiency in the oil and gas industry. As energy costs rise and environmental concerns mount, oil and gas companies are increasingly investing in waste heat recovery systems to capture and utilize excess heat generated during various processes. This not only reduces energy consumption but also lowers operational costs and greenhouse gas emissions.

Furthermore, stringent environmental regulations aimed at reducing carbon emissions and promoting sustainable practices in the oil and gas sector are driving the adoption of waste heat recovery technologies. Waste heat recovery systems help companies meet emissions targets while enhancing their overall operational efficiency.

Trends:

An emerging trend in the Oil and Gas Waste Heat Recovery Market is the adoption of regenerative heat exchangers. These heat exchangers are designed to capture and store thermal energy, allowing it to be reused for various purposes within the oil and gas facilities. Regenerative systems are known for their high efficiency and can significantly reduce energy consumption.

Additionally, non-regenerative waste heat recovery technologies are also witnessing growth. These systems utilize heat exchangers to transfer thermal energy to other fluids, such as water or air, which can then be used for preheating or other industrial processes. Non-regenerative systems offer flexibility and cost-effectiveness.

Restraints:

One of the key challenges hindering the growth of the Oil and Gas Waste Heat Recovery Market is the upfront capital investment required for the implementation of waste heat recovery systems. While these systems offer long-term energy savings and environmental benefits, the initial costs can be a barrier to entry for some oil and gas companies.

Moreover, the complexity of integrating waste heat recovery systems into existing oil and gas operations can be a restraint. Retrofitting existing facilities to incorporate waste heat recovery technologies may require downtime and careful planning, which can be logistically challenging.

Oil and Gas Waste Heat Recovery Market Segmentation By Application:

Power Generation: Power generation applications are expected to witness substantial growth. Waste heat recovery systems in power generation facilities help increase overall energy efficiency by capturing and converting thermal energy into electricity.
Preheating of Oil: Waste heat recovery systems are utilized to preheat crude oil or other fluids in the oil and gas production process, reducing viscosity and facilitating easier transport.
Steam Generation: Steam generation using waste heat is common in oil refineries and petrochemical plants. It is an energy-efficient method for producing steam for various industrial processes.
Others: Other applications of waste heat recovery in the oil and gas industry include heating water for industrial use and space heating in facilities.

Oil and Gas Waste Heat Recovery Market Segmentation By Technology:

Regenerative: Regenerative waste heat recovery systems capture and store thermal energy for reuse, offering high efficiency and energy savings.
Non-regenerative: Non-regenerative systems transfer waste heat to other fluids, such as water or air, for various industrial applications. They offer flexibility and cost-effectiveness.

Regional Overview:

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North America is poised to be a key contributor to the global Oil and Gas Waste Heat Recovery Market, accounting for approximately 35% of the market's growth during the forecast period. The region's focus on reducing greenhouse gas emissions, coupled with a well-established oil and gas industry, drives the adoption of waste heat recovery technologies.

Europe also plays a significant role in the market, with countries like Germany, the United Kingdom, and Norway leading in waste heat recovery initiatives in the oil and gas sector.

Oil and Gas Waste Heat Recovery Market Customer Landscape:

The Oil and Gas Waste Heat Recovery Market report encompasses the customer adoption lifecycle, ranging from early adopters to mainstream users. It delves into adoption rates across different regions based on penetration and includes key purchase criteria and price sensitivity drivers to assist companies in formulating effective growth strategies.

Major Oil and Gas Waste Heat Recovery Market Companies:

Companies in the Oil and Gas Waste Heat Recovery Market are employing diverse strategies such as partnerships, mergers, acquisitions, geographic expansion, and product/service launches to strengthen their market presence.

Example companies include:

Siemens AG: Siemens offers a range of waste heat recovery solutions for the oil and gas industry, including regenerative and non-regenerative systems. The company focuses on energy-efficient technologies and sustainability.
ABB Ltd: ABB provides waste heat recovery solutions that help oil and gas companies improve energy efficiency and reduce carbon emissions. Their offerings include regenerative systems for optimal energy savings.
General Electric Company (GE): GE offers waste heat recovery technologies for the oil and gas sector, with a focus on enhancing operational efficiency and environmental sustainability.

The competitive landscape analysis in the report provides insights into 20 key market players, including:

Alfa Laval AB
Mitsubishi Heavy Industries, Ltd.
Amec Foster Wheeler
Ormat Technologies Inc.
Thermax Limited
HRS Heat Exchangers Ltd.
Dürr Group
Econotherm UK Ltd.
Bosch Thermotechnology Ltd.
Kawasaki Heavy Industries, Ltd.

Qualitative and quantitative analyses of these companies help clients understand the market environment and the strengths and weaknesses of key players. Companies are categorized based on focus, dominance, and strength.

Segment Overview:

The Oil and Gas Waste Heat Recovery Market report forecasts revenue growth at global, regional, and country levels and offers an analysis of trends and growth opportunities from 2019 to 2032.

Application Outlook (USD Million, 2019 - 2032):

Power Generation
Preheating of Oil
Steam Generation
Others

Technology Outlook (USD Million, 2019 - 2032):

Regenerative
Non-regenerative

Geography Outlook (USD Million, 2019 - 2032):

North America

United States
Canada

Europe

United Kingdom
Germany
Norway
Rest of Europe

Asia-Pacific

China
India
Japan
Rest of Asia-Pacific

Latin America

Brazil
Mexico

Middle East & Africa

Saudi Arabia
United Arab Emirates
Rest of Middle East & Africa

TABLE OF CONTENTS: GLOBAL OIL AND GAS WASTE HEAT RECOVERY MARKET

Chapter 1. MARKET SYNOPSIS

1.1. Market Definition

1.2. Research Scope & Premise

1.3. Methodology

1.4. Market Estimation Technique

Chapter 2. EXECUTIVE SUMMARY

2.1. Summary Snapshot, 2016 – 2027

Chapter 3. INDICATIVE METRICS

3.1. Macro Indicators

Chapter 4. OIL AND GAS WASTE HEAT RECOVERY MARKET SEGMENTATION & IMPACT ANALYSIS

4.1. Oil and Gas Waste Heat Recovery Segmentation Analysis

4.2. Industrial Outlook

4.3. Price Trend Analysis

4.4. Regulatory Framework

4.5. Porter’s Five Forces Analysis

4.5.1. Power Of Suppliers

4.5.2. Power Of Buyers

4.5.3. Threat Of Substitutes

4.5.4. Threat Of New Entrants

4.5.5. Competitive Rivalry

Chapter 5. OIL AND GAS WASTE HEAT RECOVERY MARKET BY Sector INSIGHTS & TRENDS

5.1. Segment 1 Dynamics & Market Share, 2019 & 2027

5.2. Upstream

5.2.1. Market Estimates And Forecast, 2016 – 2027 (USD Million)

5.2.2. Market Estimates And Forecast, By Region, 2016 – 2027 (USD Million)

5.3. Midstream

5.3.1. Market Estimates And Forecast, 2016 – 2027 (USD Million)

5.3.2. Market Estimates And Forecast, By Region, 2016 – 2027 (USD Million)

5.4. Downstream

5.4.1. Market Estimates And Forecast, 2016 – 2027 (USD Million)

5.4.2. Market Estimates And Forecast, By Region, 2016 – 2027 (USD Million)

Chapter 6. OIL AND GAS WASTE HEAT RECOVERY MARKET BY Application INSIGHTS & TRENDS

6.1. Segment 2 Dynamics & Market Share, 2019 & 2027

6.2. Thermal

6.2.1. Market Estimates And Forecast, 2016 – 2027 (USD Million)

6.2.2. Market Estimates And Forecast, By Region, 2016 – 2027 (USD Million)

6.3. Electricity Power Generation

6.3.1. Market Estimates And Forecast, 2016 – 2027 (USD Million)

6.3.2. Market Estimates And Forecast, By Region, 2016 – 2027 (USD Million)

Chapter 7. OIL AND GAS WASTE HEAT RECOVERY MARKET REGIONAL OUTLOOK

7.1. Oil and Gas Waste Heat Recovery Market Share By Region, 2019 & 2027

7.2. NORTH AMERICA

7.2.1. North America Oil and Gas Waste Heat Recovery Market Estimates And Forecast, 2016 – 2027, (USD Million)

7.2.2. North America Oil and Gas Waste Heat Recovery Market Estimates And Forecast By Segment 1, 2016 –2027, (USD Million)

7.2.3. North America Oil and Gas Waste Heat Recovery Market Estimates And Forecast By Segment 2, 2016 –2027, (USD Million)

7.2.4. North America Oil and Gas Waste Heat Recovery Market Estimates And Forecast By Segment 3, 2016 –2027, (USD Million)

7.2.5. U.S.

7.2.5.1. U.S. Oil and Gas Waste Heat Recovery Market Estimates And Forecast, 2016 – 2027, (USD Million)

7.2.5.2. U.S. Oil and Gas Waste Heat Recovery Market Estimates And Forecast By Segment 1, 2016 –2027, (USD Million)

7.2.5.3. U.S. Oil and Gas Waste Heat Recovery Market Estimates And Forecast By Segment 2, 2016 –2027, (USD Million)

7.2.5.4. U.S. Oil and Gas Waste Heat Recovery Market Estimates And Forecast By Segment 3, 2016 –2027, (USD Million)

7.2.6. CANADA

7.2.6.1. Canada Oil and Gas Waste Heat Recovery Market Estimates And Forecast, 2016 – 2027, (USD Million)

7.2.6.2. Canada Oil and Gas Waste Heat Recovery Market Estimates And Forecast By Segment 1, 2016 –2027, (USD Million)

7.2.6.3. Canada Oil and Gas Waste Heat Recovery Market Estimates And Forecast By Segment 2, 2016 –2027, (USD Million)

7.2.6.4. Canada Oil and Gas Waste Heat Recovery Market Estimates And Forecast By Segment 3, 2016 –2027, (USD Million)

7.3. EUROPE

7.3.1. Europe Oil and Gas Waste Heat Recovery Market Estimates And Forecast, 2016 – 2027, (USD Million)

7.3.2. Europe Oil and Gas Waste Heat Recovery Market Estimates And Forecast By Segment 1, 2016 –2027, (USD Million)

7.3.3. Europe Oil and Gas Waste Heat Recovery Market Estimates And Forecast By Segment 2, 2016 –2027, (USD Million)

7.3.4. Europe Oil and Gas Waste Heat Recovery Market Estimates And Forecast By Segment 3, 2016 –2027, (USD Million)

7.3.5. GERMANY

7.3.5.1. Germany Oil and Gas Waste Heat Recovery Market Estimates And Forecast, 2016 – 2027, (USD Million)

7.3.5.2. Germany Oil and Gas Waste Heat Recovery Market Estimates And Forecast By Segment 1, 2016 –2027, (USD Million)

7.3.5.3. Germany Oil and Gas Waste Heat Recovery Market Estimates And Forecast By Segment 2, 2016 –2027, (USD Million)

7.3.5.4. Germany Oil and Gas Waste Heat Recovery Market Estimates And Forecast By Segment 3, 2016 –2027, (USD Million)

7.3.6. FRANCE

7.3.6.1. France Oil and Gas Waste Heat Recovery Market Estimates And Forecast, 2016 – 2027, (USD Million)

7.3.6.2. France Oil and Gas Waste Heat Recovery Market Estimates And Forecast By Segment 1, 2016 –2027, (USD Million)

7.3.6.3. France Oil and Gas Waste Heat Recovery Market Estimates And Forecast By Segment 2, 2016 –2027, (USD Million)

7.3.6.4. France Oil and Gas Waste Heat Recovery Market Estimates And Forecast By Segment 3, 2016 –2027, (USD Million)

7.3.7. U.K.

7.3.7.1. U.K. Oil and Gas Waste Heat Recovery Market Estimates And Forecast, 2016 – 2027, (USD Million)

7.3.7.2. U.K. Oil and Gas Waste Heat Recovery Market Estimates And Forecast By Segment 1, 2016 –2027, (USD Million)

7.3.7.3. U.K. Oil and Gas Waste Heat Recovery Market Estimates And Forecast By Segment 2, 2016 –2027, (USD Million)

7.3.7.4. U.K. Oil and Gas Waste Heat Recovery Market Estimates And Forecast By Segment 3, 2016 –2027, (USD Million)

7.4. ASIA-PACIFIC

7.4.1. Asia Pacific Oil and Gas Waste Heat Recovery Market Estimates And Forecast, 2016 – 2027, (USD Million)

7.4.2. Asia Pacific Oil and Gas Waste Heat Recovery Market Estimates And Forecast By Segment 1, 2016 –2027, (USD Million)

7.4.3. Asia Pacific Oil and Gas Waste Heat Recovery Market Estimates And Forecast By Segment 2, 2016 –2027, (USD Million)

7.4.4. Asia Pacific Oil and Gas Waste Heat Recovery Market Estimates And Forecast By Segment 3, 2016 –2027, (USD Million)

7.4.5. CHINA

7.4.5.1. China Oil and Gas Waste Heat Recovery Market Estimates And Forecast, 2016 – 2027, (USD Million)

7.4.5.2. China Oil and Gas Waste Heat Recovery Market Estimates And Forecast By Segment 1, 2016 –2027, (USD Million)

7.4.5.3. China Oil and Gas Waste Heat Recovery Market Estimates And Forecast By Segment 2, 2016 –2027, (USD Million)

7.4.5.4. China Oil and Gas Waste Heat Recovery Market Estimates And Forecast By Segment 3, 2016 –2027, (USD Million)

7.4.6. INDIA

7.4.6.1. India Oil and Gas Waste Heat Recovery Market Estimates And Forecast, 2016 – 2027, (USD Million)

7.4.6.2. India Oil and Gas Waste Heat Recovery Market Estimates And Forecast By Segment 1, 2016 –2027, (USD Million)

7.4.6.3. India Oil and Gas Waste Heat Recovery Market Estimates And Forecast By Segment 2, 2016 –2027, (USD Million)

7.4.6.4. India Oil and Gas Waste Heat Recovery Market Estimates And Forecast By Segment 3, 2016 –2027, (USD Million)

7.4.7. JAPAN

7.4.7.1. Japan Oil and Gas Waste Heat Recovery Market Estimates And Forecast, 2016 – 2027, (USD Million)

7.4.7.2. Japan Oil and Gas Waste Heat Recovery Market Estimates And Forecast By Segment 1, 2016 –2027, (USD Million)

7.4.7.3. Japan Oil and Gas Waste Heat Recovery Market Estimates And Forecast By Segment 2, 2016 –2027, (USD Million)

7.4.7.4. Japan Oil and Gas Waste Heat Recovery Market Estimates And Forecast By Segment 3, 2016 –2027, (USD Million)

7.4.8. AUSTRALIA

7.4.8.1. Australia Oil and Gas Waste Heat Recovery Market Estimates And Forecast, 2016 – 2027, (USD Million)

7.4.8.2. Australia Oil and Gas Waste Heat Recovery Market Estimates And Forecast By Segment 1, 2016 –2027, (USD Million)

7.4.8.3. Australia Oil and Gas Waste Heat Recovery Market Estimates And Forecast By Segment 2, 2016 –2027, (USD Million)

7.4.8.4. Australia Oil and Gas Waste Heat Recovery Market Estimates And Forecast By Segment 3, 2016 –2027, (USD Million)

7.5. MIDDLE EAST AND AFRICA (MEA)

7.5.1. Mea Oil and Gas Waste Heat Recovery Market Estimates And Forecast, 2016 – 2027, (USD Million)

7.5.2. Mea Oil and Gas Waste Heat Recovery Market Estimates And Forecast By Segment 1, 2016 –2027, (USD Million)

7.5.3. Mea Oil and Gas Waste Heat Recovery Market Estimates And Forecast By Segment 2, 2016 –2027, (USD Million)

7.5.4. Mea Oil and Gas Waste Heat Recovery Market Estimates And Forecast By Segment 3, 2016 –2027, (USD Million)

7.6. LATIN AMERICA

7.6.1. Latin America Oil and Gas Waste Heat Recovery Market Estimates And Forecast, 2016 – 2027, (USD Million)

7.6.2. Latin America Oil and Gas Waste Heat Recovery Market Estimates And Forecast By Segment 1, 2016 –2027, (USD Million)

7.6.3. Latin America Oil and Gas Waste Heat Recovery Market Estimates And Forecast By Segment 2, 2016 –2027, (USD Million)

7.6.4. Latin America Oil and Gas Waste Heat Recovery Market Estimates And Forecast By Production Process, 2016 –2027, (USD Million)

7.6.5. Latin America Oil and Gas Waste Heat Recovery Market Estimates And Forecast By Segment 3, 2016 –2027, (USD Million)

Chapter 8. COMPETITIVE LANDSCAPE

8.1. Market Share By Manufacturers

8.2. Strategic Benchmarking

8.2.1. New Product Launches

8.2.2. Investment & Expansion

8.2.3. Acquisitions

8.2.4. Partnerships, Agreement, Mergers, Joint-Ventures

8.3. Vendor Landscape

8.3.1. North American Suppliers

8.3.2. European Suppliers

8.3.3. Asia-Pacific Suppliers

8.3.4. Rest Of The World Suppliers

Chapter 9. COMPANY PROFILES

9.1. ABB Ltd. (Switzerland)

9.1.1. Company Overview

9.1.2. Financial Performance

9.1.3. Product Insights

9.1.4. Strategic Initiatives

9.2. Ormat Technologies (U.S)

9.2.1. Company Overview

9.2.2. Financial Performance

9.2.3. Product Insights

9.2.4. Strategic Initiatives

9.3. General Electric Company (U.S)

9.3.1. Company Overview

9.3.2. Financial Performance

9.3.3. Product Insights

9.3.4. Strategic Initiatives

9.4. China Energy Recovery (China)

9.4.1. Company Overview

9.4.2. Financial Performance

9.4.3. Product Insights

9.4.4. Strategic Initiatives

9.5. Bono Energia (Italy)

9.5.1. Company Overview

9.5.2. Financial Performance

9.5.3. Product Insights

9.5.4. Strategic Initiatives

9.6. HRS (U.K)

9.6.1. Company Overview

9.6.2. Financial Performance

9.6.3. Product Insights

9.6.4. Strategic Initiatives

9.7. Harbin Electric Company Limited (China)

9.7.1. Company Overview

9.7.2. Financial Performance

9.7.3. Product Insights

9.7.4. Strategic Initiatives

9.8. Dongfang Electric Corporation (China)

9.8.1. Company Overview

9.8.2. Financial Performance

9.8.3. Product Insights

9.8.4. Strategic Initiatives

9.9. Amec Foster Wheeler (U.K)

9.9.1. Company Overview

9.9.2. Financial Performance

9.9.3. Product Insights

9.9.4. Strategic Initiatives

9.10. Siemens AG (Germany)

9.10.1. Company Overview

9.10.2. Financial Performance

9.10.3. Product Insights

9.10.4. Strategic Initiatives

RESEARCH METHODOLOGY

A research methodology is a systematic approach for assessing or conducting a market study. Researchers tend to draw on a variety of both qualitative and quantitative study methods, inclusive of investigations, survey, secondary data and market observation.

Such plans can focus on classifying the products offered by leading market players or simply use statistical models to interpret observations or test hypotheses. While some methods aim for a detailed description of the factors behind an observation, others present the context of the current market scenario.

Now let’s take a closer look at the research methods here.

Secondary Research Model

Extensive data is obtained and cumulated on a substantial basis during the inception phase of the research process. The data accumulated is consistently filtered through validation from the in-house database, paid sources as well reputable industry magazines. A robust research study requires an understanding of the overall value chain. Annual reports and financials of industry players are studied thoroughly to have a comprehensive idea of the market taxonomy.

Primary Insights

Post conglomeration of the data obtained through secondary research; a validation process is initiated to verify the numbers or figures. This process is usually performed by having a detailed discussion with the industry experts.

However, we do not restrict our primary interviews only to the industry leaders. Our team covers the entire value chain while verifying the data. A significant number of raw material suppliers, local manufacturers, distributors, and stakeholders are interviewed to make our findings authentic. The current trends which include the drivers, restraints, and opportunities are also derived through the primary research process.

Market Estimation

The market estimation is conducted by analyzing the data collected through both secondary and primary research. This process involves market breakdown, bottom-up and top- down approach.

Moreover, while forecasting the market a comprehensive statistical time series model is designed for each market. Macroeconomic indicators are considered to understand the current trends of the market. Each data point is verified by the process of data triangulation method to arrive at the final market estimates.

Final Presentation

The penultimate process results in a holistic research report. The study equips key industry players to undertake significant strategic decisions through the findings. The report encompasses detailed market information. Graphical representations of the current market trends are also made available in order to make the study highly comprehensible for the reader.

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Oil And Gas Waste Heat Recovery Market Size, Type Analysis, Application Analysis, End-Use, Industry Analysis, Regional Outlook, Competitive Strategies And Forecasts, 2023-2032