Waste Heat Recovery System Market: Global Forecasts to 2021 Oct 2016 | Page 2
Waste Heat Recovery System Market: Global Forecasts to 2021“ Waste heat recovery system market to reach USD 65.87 billion by 2021”
The market size of waste heat recovery system( WHRS) is projected to reach USD 65.87 billion by 2021, at a CAGR of 6.90 % between 2016 and 2021. The growing demand from major enduser industries such as cement and metal production is expected to drive the market in the future. The growing construction sector is significantly driving the demand for WHR system. The high cost of these systems is a major restraint for the market.
“ Steam & electricity generation application to witness the highest growth rate during forecast period”
The steam & electricity generation application is expected to witness the highest growth rate between 2016 and 2021. Steam generation from waste heat sources is crucial to several end-use industries and, hence, is a major WHRS application. The advantages of steam generation are its high heat capacity and flexibility.