Europe Waste Heat Recovery System Market Size, Share & Trends Analysis Report, By Phase System, By Application (Pre Heating, Steam & Power Generation and Others), By End-use, By Country and Segment Forecasts, 2023 - 2030

Report Overview

The Europe Waste Heat Recovery System Market was valued at 20.1 billion in 2022 and expected to grow at CAGR of 7.1% over forecast period.

As the region's emphasis on sustainability and carbon reduction grows, industries are increasingly turning to WHRS to capture and use otherwise wasted thermal energy from industrial processes. The European Union's and individual member states' stringent environmental regulations and energy efficiency mandates provide a strong impetus for the adoption of WHRS across diverse sectors..

The economic benefits of lower energy costs and the potential for increased competitiveness drive the market even further. Furthermore, technological advancements in WHRS solutions, combined with government incentives and subsidies, contribute to waste heat recovery systems' growing popularity as an integral component of Europe's transition to a more resource-efficient and sustainable energy landscape.

Phase System Outlook

Based on Phase System, the Europe Waste Heat Recovery System Market is segmented Liquid-liquid Phase System, Liquid Gas Phase System and Thermal Regeneration.  Liquid-liquid Phase System segment accounted for largest market share in 2022. LLPS-WHRS is becoming more widely recognized as a viable solution for efficiently capturing and utilizing waste heat in industrial processes involving liquid-liquid phase systems. The region's commitment to meeting energy efficiency targets, combined with stringent environmental regulations, is driving industries to implement advanced waste heat recovery technologies. LLPS-WHRS provides a specialized approach tailored to liquid-phase systems, making it particularly relevant in industries such as chemical processing and manufacturing. Government incentives, such as grants and subsidies, further incentivize LLPS-WHRS integration, fostering a favorable market environment.

The region's commitment to sustainability and stringent environmental regulations has pushed industries to adopt innovative energy-saving solutions, positioning TR-WHRS as a key player in this landscape. The system's ability to capture and use waste heat from thermal regeneration processes, particularly in manufacturing and chemical processing, is in line with Europe's resource optimization goals. Increasing public awareness of the economic benefits of lower energy costs and increased competitiveness, combined with supportive government policies and incentives, contributes to the market's upward trend.

Application Outlook

Based on Application, Europe Waste Heat Recovery System Market is segmented into Pre Heating, Steam & Power Generation and others. As the region's commitment to sustainable and efficient energy practices grows, industries are increasingly recognizing WHRS as a critical solution for capturing and utilizing waste heat from power and steam generation processes. Stringent environmental regulations, combined with the need to improve energy efficiency and reduce carbon emissions, drive the adoption of advanced WHRS technologies in a variety of industries. Reduced energy costs and improved operational efficiency provide additional incentives for industries to integrate WHRS into their power and steam generation systems.

With technological advancements, supportive government policies, and the imperative for a greener energy landscape, WHRS emerges as a key driver in Europe's pursuit of resource optimization and a more sustainable approach to power and steam generation.

End-Use Outlook

Based on End-Use, Europe Waste Heat Recovery System Market is segmented into Petroleum Refinery, Power Generation, Cement production, Chemical processing, Metal Production, Pulp & Paper and others. Petroleum refinery accounted for largest share in 2022. The petroleum refinery end-use sector is expanding rapidly, driven by a dual emphasis on operational efficiency and environmental sustainability. As petroleum refineries seek to optimize their processes and reduce operational costs, waste heat recovery systems (WHRS) have emerged as a critical technology for capturing and repurposing waste heat generated during refining operations. Environmental regulations, as well as Europe's commitment to carbon neutrality, drive the adoption of WHRS in petroleum refineries, which aligns with the region's broader energy transition goals.

With an increased focus on energy efficiency, sustainability, and the transition to cleaner energy sources, WHRS has emerged as a critical technology in the power generation sector. The requirement to reduce carbon emissions and adhere to stringent environmental regulations has increased demand for advanced WHRS solutions. The economic benefits of improved operational efficiency, reduced fuel consumption, and lower energy costs accelerate the adoption of WHRS in power generation facilities throughout Europe.

Country Outlook

Germany has emerged as leading market for Europe Waste Heat Recovery System Market in 2022. The German Waste Heat Recovery System (WHRS) market is expanding rapidly, owing to a combination of economic imperatives and a strong commitment to environmental sustainability. As Germany strives for greater energy efficiency and lower carbon emissions, WHRS has emerged as a critical technology in a variety of industries. The ambitious Energiewende goals of the country, combined with stringent environmental regulations, highlight the importance of advanced WHRS solutions in optimizing energy utilization. The German government's incentives, such as subsidies and grants, encourage industries to invest in waste heat recovery systems.

Economic incentives associated with lower operational costs and increased competitiveness strengthen the market even further. Furthermore, government support in the form of policies and incentives is critical in encouraging the widespread adoption of WHRS in various sectors. As France prioritizes sustainability and resource optimization, WHRS emerges as a key driver in reshaping the industrial landscape and contributing to the country's more environmentally conscious and efficient energy future.

Recent Key Developments in Europe Waste Heat Recovery System Market

• In September 2023, Titan Group announced partnership with Orcan Energy to explore the development and deployment of Orcan’s innovative modular waste heat recovery (WHR) solutions across Titan’s international cement production base.
• In April 2023, EU announced to convert the heating and cooling sector to be carbon-neutral by 2035, using renewable sources such as waste heat from datacenters.
• In April 2022, E.ON and glass manufacturer AGC Glass Europe strengthen their collaboration with a project for waste heat recovery and green power generation at AGC's float glass plant.

Europe Waste Heat Recovery System Market Report Scope

Europe Waste Heat Recovery System Market Segmentation

Phase System Outlook (Revenue, USD Billion, 2018 - 2030)

• Liquid-liquid Phase System
• Liquid Gas Phase System
• Thermal Regeneration

Application Outlook (Revenue, USD Billion, 2018 - 2030)

• Pre Heating
• Steam & Power Generation
• Others

End-Use Outlook (Revenue, USD Billion, 2018 - 2030)

• Petroleum Refinery
• Power Generation
• Cement production
• Chemical processing
• Metal Production
• Pulp & Paper
• Others

Europe Sustainable Aviation Fuel Market, By Country

• Germany
• United Kingdom
• France
• Italy
• Russia
• Spain
• Netherlands
• Switzerland
• Sweden
• Poland