APO RESEARCH · REPORT
Waste Heat Recovery System
Waste heat recovery is the process of “heat integration”, that is, reusing heat energy that would otherwise be disposed of or simply released into the atmosphere. By recovering waste heat, plants can reduce energy costs and CO2 emissions, while simultaneously increasing energy efficiency.
Product & engineering
Understand the product.
Waste heat recovery is the process of “heat integration”, that is, reusing heat energy that would otherwise be disposed of or simply released into the atmosphere. By recovering waste heat, plants can reduce energy costs and CO2 emissions, while simultaneously increasing energy efficiency.
Waste heat to power (WHP) is the process of capturing heat discarded by an existing industrial process and using that heat to generate power. Energy intensive industrial processes—such as those occurring at refineries, steel mills, glass furnaces, and cement kilns—all release hot exhaust gases and waste streams that can be harnessed with well-established technologies to generate electricity. The recovery of industrial waste heat for power is a largely untapped type of combined heat and power (CHP), which is the use of a single fuel source to generate both thermal energy (heating or cooling) and electricity.
Selected research
Industry Research
Waste Heat Recovery System Industry Research Report 2026
Market perspective
Waste heat recovery is the process of “heat integration”, that is, reusing heat energy that would otherwise be disposed of or simply released into the atmosphere. By recovering waste heat, plants can reduce energy costs and CO2 emissions, while simultaneously increasing energy efficiency.
Waste heat to power (WHP) is the process of capturing heat discarded by an existing industrial process and using that heat to generate power. Energy intensive industrial processes—such as those occurring at refineries, steel mills, glass furnaces, and cement kilns—all release hot exhaust gases and waste streams that can be harnessed with well-established technologies to generate electricity. The recovery of industrial waste heat for power is a largely untapped type of combined heat and power (CHP), which is the use of a single fuel source to generate both thermal energy (heating or cooling) and electricity.
Global Waste Heat Recovery key players include Kawasaki, Sinoma Energy Conservation, Kesen Kenen, Boustead International Heaters, etc. Global top four manufacturers hold a share about 45%.
Read the full market overview
China is the largest market, with a share about 80%, followed by Europe, and India, both have a share over 10 percent.
In terms of product, Over 7MW is the largest segment, with a share over 60%. And in terms of application, the largest application is Cement, followed by Steel, Chemical, Petroleum Refining, etc.
Report Scope
This report quantifies the global Waste Heat Recovery System market in revenue (US$ million) and, where applicable, sales volume (MW), using 2025 as the base year and providing annual historical and forecast data for 2021–2032.
It standardizes definitions of types and applications, harmonizes vendor attribution, and presents comparable time series by company, type, application, and region/country, including indicative price bands (US$/MW) and concentration ratios (CR5/CR10).
The outputs are intended to support strategy development, budgeting, and performance benchmarking for manufacturers, new entrants, channel partners, and investors; the report also reviews technology shifts and notable product introductions relevant to Waste Heat Recovery System.
Key Companies & Market Share Insights
This section profiles leading manufacturers, combining 2021–2025 results with a 2026–2032 outlook. It reports revenue, market share, price bands, product and application mix, regional and channel mix, and key developments (M&A, capacity additions, certifications). It also provides global revenue, average price, and—where applicable—sales volume by manufacturer, and calculates CR5/CR10 and rank changes to support comparative benchmarking.
Waste Heat Recovery System Market by Company
Kawasaki
Sinoma Energy Conservation
Kesen Kenen
Boustead International Heaters
CITIC Heavy Industries
Thermax
Lingda Group
Ormat
Turboden
Exergy International
Enertime
ElectraTherm
E-Rational
Waste Heat Recovery System Segment by MW Capacity
Over 7MW
Below 1MW
1MW-3MW
3MW-7MW
Waste Heat Recovery System Segment by Industry
Cement
Steel
Petroleum Refining
Chemical
Other
Waste Heat Recovery System Segment by Region
North America
United States
Canada
Mexico
Europe
Germany
France
U.K.
Italy
Russia
Spain
Netherlands
Switzerland
Sweden
Poland
Asia-Pacific
China
Japan
South Korea
India
Australia
Taiwan
Southeast Asia
South America
Brazil
Argentina
Chile
Middle East & Africa
Egypt
South Africa
Israel
Türkiye
GCC Countries
Key Drivers & Barriers
High-impact rendering factors and drivers have been studied in this report to aid the readers to understand the general development. Moreover, the report includes restraints and challenges that may act as stumbling blocks on the way of the players. This will assist the users to be attentive and make informed decisions related to business. Specialists have also laid their focus on the upcoming business prospects.
Reasons to Buy This Report
1. This report will help the readers to understand the competition within the industries and strategies for the competitive environment to enhance the potential profit. The report also focuses on the competitive landscape of the global Waste Heat Recovery System market, and introduces in detail the market share, industry ranking, competitor ecosystem, market performance, new product development, operation situation, expansion, and acquisition. etc. of the main players, which helps the readers to identify the main competitors and deeply understand the competition pattern of the market.
2. This report will help stakeholders to understand the global industry status and trends of Waste Heat Recovery System and provides them with information on key market drivers, restraints, challenges, and opportunities.
3. This report will help stakeholders to understand competitors better and gain more insights to strengthen their position in their businesses. The competitive landscape section includes the market share and rank (in volume and value), competitor ecosystem, new product development, expansion, and acquisition.
4. This report stays updated with novel technology integration, features, and the latest developments in the market
5. This report helps stakeholders to gain insights into which regions to target globally
6. This report helps stakeholders to gain insights into the end-user perception concerning the adoption of Waste Heat Recovery System.
7. This report helps stakeholders to identify some of the key players in the market and understand their valuable contribution.
Chapter Outline
Chapter 1: Research objectives, research methods, data sources, data cross-validation;
Chapter 2: Introduces the report scope of the report, executive summary of different market segments (by region, product type, application, etc), including the market size of each market segment, future development potential, and so on. It offers a high-level view of the current state of the market and its likely evolution in the short to mid-term, and long term.
Chapter 3: Detailed analysis of Waste Heat Recovery System manufacturers competitive landscape, price, production and value market share, latest development plan, merger, and acquisition information, etc.
Chapter 4: Provides profiles of key players, introducing the basic situation of the main companies in the market in detail, including product production/output, value, price, gross margin, product introduction, recent development, etc.
Chapter 5: Production/output, value of Waste Heat Recovery System by region/country. It provides a quantitative analysis of the market size and development potential of each region in the next six years.
Chapter 6: Consumption of Waste Heat Recovery System in regional level and country level. It provides a quantitative analysis of the market size and development potential of each region and its main countries and introduces the market development, future development prospects, market space, and production of each country in the world.
Chapter 7: Provides the analysis of various market segments by mw capacity, covering the market size and development potential of each market segment, to help readers find the blue ocean market in different market segments.
Chapter 8: Provides the analysis of various market segments by industry, covering the market size and development potential of each market segment, to help readers find the blue ocean market in different downstream markets.
Chapter 9: Analysis of industrial chain, including the upstream and downstream of the industry.
Chapter 10: Introduces the market dynamics, latest developments of the market, the driving factors and restrictive factors of the market, the challenges and risks faced by manufacturers in the industry, and the analysis of relevant policies in the industry.
Chapter 11: The main points and conclusions of the report.
More report detail
Tables and figures
Scope & coverage.
Types
- Over 7MW
- Below 1MW
- 1MW-3MW
- 3MW-7MW
Applications
- Cement
- Steel
- Petroleum Refining
- Chemical
- Other
Companies covered
- Kawasaki
- Sinoma Energy Conservation
- Kesen Kenen
- Boustead International Heaters
- CITIC Heavy Industries
- Thermax
- Lingda Group
- Ormat
- Turboden
- Exergy International
- Enertime
- ElectraTherm
- E-Rational
Inside the report.
1 Preface
- 1.1 Scope of Report
- 1.2 Reasons for Doing This Study
- 1.3 Research Methodology
- 1.4 Research Process
- 1.5 Data Source
- 1.5.1 Secondary Sources
- 1.5.2 Primary Sources
2 Market Overview
- 2.1 Product Definition
- 2.2 Waste Heat Recovery System by MW Capacity
- 2.2.1 Market Value Comparison by MW Capacity (2021 VS 2025 VS 2032) & (US$ Million)
- 2.2.2 Over 7MW
- 2.2.3 Below 1MW
- 2.2.4 1MW-3MW
- 2.2.5 3MW-7MW
- 2.3 Waste Heat Recovery System by Industry
- 2.3.1 Market Value Comparison by Industry (2021 VS 2025 VS 2032) & (US$ Million)
- 2.3.2 Cement
- 2.3.3 Steel
- 2.3.4 Petroleum Refining
- 2.3.5 Chemical
- 2.3.6 Other
- 2.4 Global Market Growth Prospects
- 2.4.1 Global Waste Heat Recovery System Production Value Estimates and Forecasts (2021-2032)
- 2.4.2 Global Waste Heat Recovery System Production Capacity Estimates and Forecasts (2021-2032)
- 2.4.3 Global Waste Heat Recovery System Production Estimates and Forecasts (2021-2032)
- 2.4.4 Global Waste Heat Recovery System Market Average Price (2021-2032)
3 Market Competitive Landscape by Manufacturers
- 3.1 Global Waste Heat Recovery System Production by Manufacturers (2021-2026)
- 3.2 Global Waste Heat Recovery System Production Value by Manufacturers (2021-2026)
- 3.3 Global Waste Heat Recovery System Average Price by Manufacturers (2021-2026)
- 3.4 Global Waste Heat Recovery System Industry Manufacturers Ranking, 2024 VS 2025 VS 2026
- 3.5 Global Waste Heat Recovery System Key Manufacturers, Manufacturing Sites & Headquarters
- 3.6 Global Waste Heat Recovery System Manufacturers, Product Type & Application
- 3.7 Global Waste Heat Recovery System Manufacturers Established Date
- 3.8 Global Waste Heat Recovery System Market CR5 and HHI
- 3.9 Global Manufacturers Mergers & Acquisition
4 Manufacturers Profiled
- 4.1 Kawasaki
- 4.1.1 Kawasaki Waste Heat Recovery System Company Information
- 4.1.2 Kawasaki Waste Heat Recovery System Business Overview
- 4.1.3 Kawasaki Waste Heat Recovery System Production, Value and Gross Margin (2021-2026)
- 4.1.4 Kawasaki Product Portfolio
- 4.1.5 Kawasaki Recent Developments
- 4.2 Sinoma Energy Conservation
- 4.2.1 Sinoma Energy Conservation Waste Heat Recovery System Company Information
- 4.2.2 Sinoma Energy Conservation Waste Heat Recovery System Business Overview
- 4.2.3 Sinoma Energy Conservation Waste Heat Recovery System Production, Value and Gross Margin (2021-2026)
- 4.2.4 Sinoma Energy Conservation Product Portfolio
- 4.2.5 Sinoma Energy Conservation Recent Developments
- 4.3 Kesen Kenen
- 4.3.1 Kesen Kenen Waste Heat Recovery System Company Information
- 4.3.2 Kesen Kenen Waste Heat Recovery System Business Overview
- 4.3.3 Kesen Kenen Waste Heat Recovery System Production, Value and Gross Margin (2021-2026)
- 4.3.4 Kesen Kenen Product Portfolio
- 4.3.5 Kesen Kenen Recent Developments
- 4.4 Boustead International Heaters
- 4.4.1 Boustead International Heaters Waste Heat Recovery System Company Information
- 4.4.2 Boustead International Heaters Waste Heat Recovery System Business Overview
- 4.4.3 Boustead International Heaters Waste Heat Recovery System Production, Value and Gross Margin (2021-2026)
- 4.4.4 Boustead International Heaters Product Portfolio
- 4.4.5 Boustead International Heaters Recent Developments
- 4.5 CITIC Heavy Industries
- 4.5.1 CITIC Heavy Industries Waste Heat Recovery System Company Information
- 4.5.2 CITIC Heavy Industries Waste Heat Recovery System Business Overview
- 4.5.3 CITIC Heavy Industries Waste Heat Recovery System Production, Value and Gross Margin (2021-2026)
- 4.5.4 CITIC Heavy Industries Product Portfolio
- 4.5.5 CITIC Heavy Industries Recent Developments
- 4.6 Thermax
- 4.6.1 Thermax Waste Heat Recovery System Company Information
- 4.6.2 Thermax Waste Heat Recovery System Business Overview
- 4.6.3 Thermax Waste Heat Recovery System Production, Value and Gross Margin (2021-2026)
- 4.6.4 Thermax Product Portfolio
- 4.6.5 Thermax Recent Developments
- 4.7 Lingda Group
- 4.7.1 Lingda Group Waste Heat Recovery System Company Information
- 4.7.2 Lingda Group Waste Heat Recovery System Business Overview
- 4.7.3 Lingda Group Waste Heat Recovery System Production, Value and Gross Margin (2021-2026)
- 4.7.4 Lingda Group Product Portfolio
- 4.7.5 Lingda Group Recent Developments
- 4.8 Ormat
- 4.8.1 Ormat Waste Heat Recovery System Company Information
- 4.8.2 Ormat Waste Heat Recovery System Business Overview
- 4.8.3 Ormat Waste Heat Recovery System Production, Value and Gross Margin (2021-2026)
- 4.8.4 Ormat Product Portfolio
- 4.8.5 Ormat Recent Developments
- 4.9 Turboden
- 4.9.1 Turboden Waste Heat Recovery System Company Information
- 4.9.2 Turboden Waste Heat Recovery System Business Overview
- 4.9.3 Turboden Waste Heat Recovery System Production, Value and Gross Margin (2021-2026)
- 4.9.4 Turboden Product Portfolio
- 4.9.5 Turboden Recent Developments
- 4.10 Exergy International
- 4.10.1 Exergy International Waste Heat Recovery System Company Information
- 4.10.2 Exergy International Waste Heat Recovery System Business Overview
- 4.10.3 Exergy International Waste Heat Recovery System Production, Value and Gross Margin (2021-2026)
- 4.10.4 Exergy International Product Portfolio
- 4.10.5 Exergy International Recent Developments
- 4.11 Enertime
- 4.11.1 Enertime Waste Heat Recovery System Company Information
- 4.11.2 Enertime Waste Heat Recovery System Business Overview
- 4.11.3 Enertime Waste Heat Recovery System Production, Value and Gross Margin (2021-2026)
- 4.11.4 Enertime Product Portfolio
- 4.11.5 Enertime Recent Developments
- 4.12 ElectraTherm
- 4.12.1 ElectraTherm Waste Heat Recovery System Company Information
- 4.12.2 ElectraTherm Waste Heat Recovery System Business Overview
- 4.12.3 ElectraTherm Waste Heat Recovery System Production, Value and Gross Margin (2021-2026)
- 4.12.4 ElectraTherm Product Portfolio
- 4.12.5 ElectraTherm Recent Developments
- 4.13 E-Rational
- 4.13.1 E-Rational Waste Heat Recovery System Company Information
- 4.13.2 E-Rational Waste Heat Recovery System Business Overview
- 4.13.3 E-Rational Waste Heat Recovery System Production, Value and Gross Margin (2021-2026)
- 4.13.4 E-Rational Product Portfolio
- 4.13.5 E-Rational Recent Developments
5 Global Waste Heat Recovery System Production by Region
- 5.1 Global Waste Heat Recovery System Production Estimates and Forecasts by Region: 2021 VS 2025 VS 2032
- 5.2 Global Waste Heat Recovery System Production by Region: 2021-2032
- 5.2.1 Global Waste Heat Recovery System Production by Region: 2021-2026
- 5.2.2 Global Waste Heat Recovery System Production Forecast by Region (2027-2032)
- 5.3 Global Waste Heat Recovery System Production Value Estimates and Forecasts by Region: 2021 VS 2025 VS 2032
- 5.4 Global Waste Heat Recovery System Production Value by Region: 2021-2032
- 5.4.1 Global Waste Heat Recovery System Production Value by Region: 2021-2026
- 5.4.2 Global Waste Heat Recovery System Production Value Forecast by Region (2027-2032)
- 5.5 Global Waste Heat Recovery System Market Price Analysis by Region (2021-2026)
- 5.6 Global Waste Heat Recovery System Production and Value, YOY Growth
- 5.6.1 North America Waste Heat Recovery System Production Value Estimates and Forecasts (2021-2032)
- 5.6.2 Europe Waste Heat Recovery System Production Value Estimates and Forecasts (2021-2032)
- 5.6.3 China Waste Heat Recovery System Production Value Estimates and Forecasts (2021-2032)
- 5.6.4 Japan Waste Heat Recovery System Production Value Estimates and Forecasts (2021-2032)
6 Global Waste Heat Recovery System Consumption by Region
- 6.1 Global Waste Heat Recovery System Consumption Estimates and Forecasts by Region: 2021 VS 2025 VS 2032
- 6.2 Global Waste Heat Recovery System Consumption by Region (2021-2032)
- 6.2.1 Global Waste Heat Recovery System Consumption by Region: 2021-2026
- 6.2.2 Global Waste Heat Recovery System Forecasted Consumption by Region (2027-2032)
- 6.3 North America
- 6.3.1 North America Waste Heat Recovery System Consumption Growth Rate by Country: 2021 VS 2025 VS 2032
- 6.3.2 North America Waste Heat Recovery System Consumption by Country (2021-2032)
- 6.3.3 United States
- 6.3.4 Canada
- 6.3.5 Mexico
- 6.4 Europe
- 6.4.1 Europe Waste Heat Recovery System Consumption Growth Rate by Country: 2021 VS 2025 VS 2032
- 6.4.2 Europe Waste Heat Recovery System Consumption by Country (2021-2032)
- 6.4.3 Germany
- 6.4.4 France
- 6.4.5 U.K.
- 6.4.6 Italy
- 6.4.7 Russia
- 6.4.8 Spain
- 6.4.9 Netherlands
- 6.4.10 Switzerland
- 6.4.11 Sweden
- 6.4.12 Poland
- 6.5 Asia Pacific
- 6.5.1 Asia Pacific Waste Heat Recovery System Consumption Growth Rate by Country: 2021 VS 2025 VS 2032
- 6.5.2 Asia Pacific Waste Heat Recovery System Consumption by Country (2021-2032)
- 6.5.3 China
- 6.5.4 Japan
- 6.5.5 South Korea
- 6.5.6 India
- 6.5.7 Australia
- 6.5.8 Taiwan
- 6.5.9 Southeast Asia
- 6.6 South America, Middle East & Africa
- 6.6.1 South America, Middle East & Africa Waste Heat Recovery System Consumption Growth Rate by Country: 2021 VS 2025 VS 2032
- 6.6.2 South America, Middle East & Africa Waste Heat Recovery System Consumption by Country (2021-2032)
- 6.6.3 Brazil
- 6.6.4 Argentina
- 6.6.5 Chile
- 6.6.6 Turkey
- 6.6.7 GCC Countries
7 Segment by MW Capacity
- 7.1 Global Waste Heat Recovery System Production by MW Capacity (2021-2032)
- 7.1.1 Global Waste Heat Recovery System Production by MW Capacity (2021-2032) & (MW)
- 7.1.2 Global Waste Heat Recovery System Production Market Share by MW Capacity (2021-2032)
- 7.2 Global Waste Heat Recovery System Production Value by MW Capacity (2021-2032)
- 7.2.1 Global Waste Heat Recovery System Production Value by MW Capacity (2021-2032) & (US$ Million)
- 7.2.2 Global Waste Heat Recovery System Production Value Market Share by MW Capacity (2021-2032)
- 7.3 Global Waste Heat Recovery System Price by MW Capacity (2021-2032)
8 Segment by Industry
- 8.1 Global Waste Heat Recovery System Production by Industry (2021-2032)
- 8.1.1 Global Waste Heat Recovery System Production by Industry (2021-2032) & (MW)
- 8.1.2 Global Waste Heat Recovery System Production Market Share by Industry (2021-2032)
- 8.2 Global Waste Heat Recovery System Production Value by Industry (2021-2032)
- 8.2.1 Global Waste Heat Recovery System Production Value by Industry (2021-2032) & (US$ Million)
- 8.2.2 Global Waste Heat Recovery System Production Value Market Share by Industry (2021-2032)
- 8.3 Global Waste Heat Recovery System Price by Industry (2021-2032)
9 Value Chain and Sales Channels Analysis of the Market
- 9.1 Waste Heat Recovery System Value Chain Analysis
- 9.1.1 Waste Heat Recovery System Key Raw Materials
- 9.1.2 Raw Materials Key Suppliers
- 9.1.3 Waste Heat Recovery System Production Mode & Process
- 9.2 Waste Heat Recovery System Sales Channels Analysis
- 9.2.1 Direct Comparison with Distribution Share
- 9.2.2 Waste Heat Recovery System Distributors
- 9.2.3 Waste Heat Recovery System Customers
10 Global Waste Heat Recovery System Analyzing Market Dynamics
- 10.1 Waste Heat Recovery System Industry Trends
- 10.2 Waste Heat Recovery System Industry Drivers
- 10.3 Waste Heat Recovery System Industry Opportunities and Challenges
- 10.4 Waste Heat Recovery System Industry Restraints
11 Report Conclusion
12 Disclaimer
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