(MENAFN - GetNews) Oil and Gas Waste Heat Recovery Market Segmented by Sector (Upstream, Midstream, Downstream), Application (Thermal, Electricity Power Generation), Equipment (Heat Exchangers, Boilers, Heat Recovery Steam Generators, Turbines), End-User, and Region - Industry Analysis and Global Forecast to 2023
As per Market Research Future (MRFR)'s analysis, the global oil gas waste heat recovery market has been projected to reach new scaling heights at a robust CAGR of 7.5% during the forecast period. The study also highlights the market's valuation in the future as huge advancements are at its peak and the market predicts to show lucrative opportunities in the next couple of years.
Oil and Gas Waste Heat Recovery Market Leading Players:
The key players of global oil and gas waste heat recovery market are ABB Ltd. (Switzerland), Ormat Technologies (U.S), General Electric Company (U.S), China Energy Recovery (China), Bono Energia (Italy), HRS (U.K), Harbin Electric Company Limited (China), Dongfang Electric Corporation (China), Amec Foster Wheeler (U.K), Siemens AG (Germany), Mitsubishi Heavy Industries Ltd. (Japan), Echogen Power Systems Inc.(U.S), Econotherm Ltd (U.K), Thermax Limited (U.K), and Cool Energy, Inc. (U.S).
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Oil and Gas Waste Heat Recovery Market Overview
Oil gas waste heat recovery systems relate to increasing the overall efficiency of oil and gas exploration and production plant in a very cost-effective way while diminishing the demand for fuels at the same time. The method goes with reusing and capturing heat from streams of high energy produced during refining sequences in industrial areas. In recent times, industrial development continues to grow promptly, which is propelling large quantities of heat production. Its reuse and preservation have become an essential yet trouble of great anxiety for several industries.
Several methods are being engaged on a grand scale in the industrial bodies from carbon emissions, greenhouse gas, operational costs, to reduce energy consumption. To overcome such issues, huge advancements are being made to cover up and convert it into electricity using Organic Rankine Cycle (ORC).
Oil Gas Waste Heat Recovery Market: Drivers & Constraints
At the same time, continuous evolution in industrialization across the globe has resulted in the generation of considerable waste energy as a by-product. The large-scale implementation of a waste heat recovery system in the oil & gas sector is expected to boost the industrial processes and substantially enhance their economic feasibility.
The imminent factors for the growth of oil & gas waste heat recovery market are considered to be emerging economies due to the rising need for energy with exploration and production activities. Countries like the U.S, Canada, and Mexico are helping the market to grow substantially in the forecast period by investing a large share of the economy in converting oil & gas wastes into energy consumption solutions.
With the tremendous high improvement in thermal equipment, the design has dominated the oil & gas waste heat recovery market throughout the forecast years. The enhancement in equipment design is predicted to generate high revenue. Also, power management solutions are also mounting owing to an industrial inclination towards it which is again expected to boost the growth of oil & gas waste heat recovery market with a higher CAGR in the years to come.
Oil and Gas Waste Heat Recovery IndustrySegmentation:
In the reports by MRFR, Global oil and gas waste heat recovery market have been segmented based on sector, application, equipment, end-user, and region.
Based on the sector, the market is segmented into upstream, midstream, and downstream.
Based on application, the market is segmented into thermal, electric power generation, and others.
Based on equipment, the market is segmented into heat exchangers, boilers, heat recovery steam generators, turbines, and others.
Based on the end-user, the market is segmented into commercial, residential, and others.
Scope of the Report
This study provides an overview of the global oil & gas waste heat recovery market, tracking four market segments across four geographic regions. The report studies key players, providing a five-year annual trend analysis that highlights market size, volume, and share for North America, Europe, Asia Pacific (APAC) and Rest of the World (ROW). The report also provides a forecast, focusing on the market opportunities for the next five years for each region. The scope of the study segments the oil and gas waste heat recovery market by its sector, by application, by equipment, by end-user, and by region.
Table Of Content
1 Executive Summary
2 Scope Of The Report
2.1 Market Definition
2.2 Scope Of The Study
2.3 Research Process
2.4 Market Size Estimation
2.5 Forecast Model
3 Market Landscape
3.1 Porter's Five Forces Analysis
3.2 Value Chain/Supply Chain Analysis
4 Market Dynamics
4.2 Market Drivers
4.3 Market Restraints
4.4 Market Opportunities
4.5 Market Trends
To Be Continued…
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