Oil and Gas Waste Heat Recovery Market – Global Industry Analysis And Forecast (2023-2029)

Oil and Gas Waste Heat Recovery Market size is expected to reach nearly US$ 21.03 Bn. by 2029 with the CAGR of 7% during the forecast period.

The report includes an analysis of the impact of COVID-19 lockdown on the revenue of market leaders, followers, and disruptors. Since the lockdown was implemented differently in various regions and countries; the impact of the same is also seen differently by regions and segments. The report has covered the current short-term and long-term impact on the market, and it would help the decision-makers to prepare the outline and strategies for companies by region.

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Oil and Gas Waste Heat Recovery Market Dynamics:
Waste heat recovery functions are amongst the maximum cost-beneficial method to increase the all-inclusive planning of the oil and gas investigation and manufacturing plant while decreasing the power need. The waste gas released from different procedures of the oil and gas factories exposes a large power, this power manufactured is called exhaust heat.

The industrial procedure frequently produces sufficient waste power to create power. Waste heat recovery components or heat to energy power can retrieve the waste temperature and transform it into power by utilizing biological Rankine rotation. Any crucial waste gas flow with transposition above 3000F has an essential perspective for remarkable exhaust heat recovery viability. Exhaust heat temperature can differ remarkably, in pertinence to allowing heat transformation and retrieval; it is crucial that the exhaust heat origin temperature is excessive as differentiated to the heat sink condition.

Customers of exhaust heat recovery functions incorporate plant procedure heating, igniting air heat up, heating system, condensation ejectors, ORC generators, and establishing contentment heat. Often, exhaust heat is of low-temperature standard. It can be strenuous to effectively use the heat carried. In these containers, ORC technology can conduct an added advantage to increase the all-inclusive plant planning.

The ORC component uses this exhaust waste power and transforms it into power capacity. In the upstream oil and gas segment, the requirement for heating procedure liquid is needed in unsettled production accommodation and discharged vessels, seaside procedure policies. This is done by hampering the exhaust heat obtainable in the waste gases, balancing the gas engine creator of the operation gas compressor excursions.
Oil and Gas Waste Heat Recovery Market Segment Analysis:
Oil and Gas Waste Heat Recovery Market is divided by Sector (Upstream, Midstream, and Downstream), By Application (Thermal and Electricity Power Generation), and by Region (North America, Europe, Asia Pacific, Middle East, and Africa, and Latin America). The downstream segment is estimated to influence the oil and gas exhaust heat retrieval market until 2029. The downstream region comprises refineries and elements, which creates a large quantity of exhaust power throughout its functions, therefore, providing an added advantage of using exhaust power. The thermal segment influences the market in 2022 and is estimated to be the quickest developing implementation segment for the oil and gas exhaust heat retrieval market. Thermal exhaust waste recovery is extremely methodical and automatically utilized for heat up and condensation creation procedures.

The broad implementations of heat interchange along all important end-users are estimated to operate the device segment in the waste exhaust recovery market over the forecast period. The oil and Gas exhaust heat recovery industry is estimated to have a large number of developments during the predicted period, due to continuous advancements in end-use production combined with increasing expendable earnings by global and well traditional industries. Dispersed energy supply is an alternative shift in the worldwide increasing need for power. While many zones do not have entrance to concentrated energy supply yet the restricted infrastructure framework still needs power. Dependent energy supply makes utilization of any obtainable power, be it biogas, household waste, or exhaust heat from an industrial procedure.
Oil and Gas Waste Heat Recovery Market Regional Insights:
On the basis of region, the oil and gas waste heat recovery market is divided into North America, Europe, Asia Pacific, the Middle East and Africa, and Latin America. The Asia Pacific is estimated to be the dominant region in the oil and gas waste heat energy recovery market. In the Asia Pacific, quick industrialization combined with rising prominence on continual power in India, China, Japan, and Southeast Asian nations is possible to operate the exhaust heat recovery market development during the forecast period.

North America and Europe are estimated to observe remarkable development during the forecasted period. The development is basically allocated to increasing industrialization combined with government initiatives concerning power methodical solutions. The exhaust power origins include hot burning gases from heat transformation and break. The exhaust waste recovery power is a water heater where the heat is retrieved from hot flows with high power content. The most utilized exhaust waste recovery devices are mechanized heating boilers and engines. Oil and gas exhaust heat recovery companies are estimated to have an immense number of developments during the forecast period. Due to the uninterrupted advancements in end-use production combined with increasing expendable earnings. The market is also estimated to have excessive expansion projects by global and well-accepted industries.

Oil and Gas Waste Heat Recovery Market Key Development

ABB Limited (Switzerland) and General Electric Company (U.S) are constantly innovating new technologies to enhance the oil and gas waste heat recovery market in the forthcoming year.

The objective of the report is to present a comprehensive analysis of the Oil and Gas Waste Heat Recovery Market including all the stakeholders of the industry. The past and current status of the industry with forecasted market size and trends are presented in the report with the analysis of complicated data in simple language. The report covers all the aspects of the industry with a dedicated study of key players that includes market leaders, followers and new entrants.

PORTER, SVOR, PESTEL analysis with the potential impact of micro-economic factors of the market has been presented in the report. External as well as internal factors that are supposed to affect the business positively or negatively have been analyzed, which will give a clear futuristic view of the industry to the decision-makers.

The report also helps in understanding Oil and Gas Waste Heat Recovery Market dynamics, structure by analyzing the market segments and projects the Oil and Gas Waste Heat Recovery Market size. Clear representation of competitive analysis of key players By Sector, price, financial position, Product portfolio, growth strategies, and regional presence in the Oil and Gas Waste Heat Recovery Market make the report investor’s guide. "
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Global Oil and Gas Waste Heat Recovery Market


Report Coverage
Details


Base Year:
2022
Forecast Period:
2023-2029


Historical Data:
2018 to 2022
Market Size in 2022
US $ 13.09 Bn.


Forecast Period 2023 to 2029 CAGR:
7%
Market Size in 2029:
US $ 21.03 Bn.


 Segments Covered:
by Sector
Upstream
Midstream
Downstream


by Equipment
Heat Exchangers
Boilers
Heat Recovery Steam Generators
Turbines


by Application
Thermal
Electricity Power Generation



Oil and Gas Waste Heat Recovery Market, by Region
North America (United States, Canada and Mexico)
Europe (UK, France, Germany, Italy, Spain, Sweden, Austria and Rest of Europe)
Asia Pacific (China, South Korea, Japan, India, Australia, Indonesia, Malaysia, Vietnam, Taiwan, Bangladesh, Pakistan and Rest of APAC)
Middle East and Africa (South Africa, GCC, Egypt, Nigeria and Rest of ME&A)
South America (razil, Argentina Rest of South America)
Oil and Gas Waste Heat Recovery Market Key Players:
1 ABB Ltd. (Switzerland)
2 Ormat Technologies (U.S)
3 General Electric Company (U.S)
4 China Energy Recovery (China)
5 Bono Energia (Italy)
6 HRS (U.K)
7 Harbin Electric Company Limited (China)
8 Dongfang Electric Corporation (China)
9 Amec Foster Wheeler (U.K)
10 Siemens AG (Germany)
11 Mitsubishi Heavy Industries Ltd. (Japan)
12 Echogen Power Systems Inc. (U.S)
13 Thermax Limited (U.K)
14 Cool Energy, Inc. (U.S)
Frequently Asked Questions:
1. Which region has the largest share in Market?
Ans: Asia Pacific region held the highest share in 2022.

2. What is the growth rate of Market?
Ans: The Market is expected to grow at a CAGR of 7% during forecast period 2023-2029.

3. What is scope of the market report?
Ans: Global Oil and Gas Waste Heat Recovery Market report helps with the PESTEL, PORTER, COVID-19 Impact analysis, Recommendations for Investors & Leaders, and market estimation of the forecast period.

5. What is the study period of this market?
Ans: The Market is studied from 2022 to 2029.