Energy and Power Oil and Gas Waste Heat Recovery Markets

Oil and Gas Waste Heat Recovery Market Analysis
Market Research Future (MRFR) reports that the global oil and gas waste heat recovery market is
set to demonstrate 7.5% CAGR during the forecast period (2017-2023). Waster heat recovery
systems are gaining traction in oil & gas processing facilities owing to their advantages. There are
viewed as solution that helps optimising the use of resources in a cost-effective manner.
Facilities are opting for waste heat recovery system to reduce the consumption of coal and other
fuels. Power conservation has become a key area of focus, which in parts is influencing the
adoption of waste heat recovery system. Oil and gas companies are focusing on technologies the
allow them to maximise out, where waste heat recovery systems have emerged as a crucial
contender. Technology is expected to play a major part in the future transformations taking place
in the oil and gas sector. New developments in end-use market is also substantiating the fast
integration of new-age technologies in the oil and gas sector. This is like to serve as a stimulant
for the oil and gas waste heat recovery market in the foreseeable future.
Global Oil and Gas Waste Heat Recovery Market: Segmental Analysis
The segmental analysis on the market has been conducted on the basis of application, end-user,
sector, equipment and region.
By application, the market has been segmented into electricity power generation, thermal and
others. The thermal segment currently holds a noteworthy share of the market in terms of value.
The segment is projected to witness the fastest growth during the assessment period. Thermal
waste heat recovery is extremely important in oil and gas facilities owing to its application in steam
generation process and pre-heating.
By end-user, the market has been segmented into residential, commercial and others. The
residential segment currently accounts for the largest market share and is expected to remain highly
profitable over the next several years. Rising of consumption of energy is driving the growth of
the segment.
By sector, the market has been segmented into downstream, midstream and upstream. The
downstream segment accounts for a relatively higher share of the market and this is likely to
continue throughout the assessment period. Over the years, the downstream oil & gas sector has
expanded substantially and is comprised of petrochemical and refineries complex which generate
a massive volume of waste heat during operations.
By equipment, the market has been segmented into boilers, heat exchangers, turbines, heat
recovery steam generators and others. The heat exchangers segment is expected to witness a sound
growth in the projected future. This is mainly owing to growing to usage of heat exchange in end-
use verticals.
Global Oil and Gas Waste Heat Recovery Market: Regional Analysis
Asia Pacific (APAC) is the largest market for oil and gas waste heat recovery. The region is
expected to retain its dominant position over 2023. The rapid industrialization in the region has
boded well for market players. At the same time, increased government initiatives to promote