How big is the Waste Heat Recovery System Market | Industry Trends & Growth Insights 2025

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Code: MTA9590

Publication Date: Sep 2025

What is the size of Waste Heat Recovery System Market?

According to 6Wresearch internal database and industry insights, the Global Waste Heat Recovery System Market was valued at USD 61.4 Billion in 2024 and is expected to reach USD 98.3 Billion by 2031, growing at a compound annual growth rate of 5.78% during the forecast period (2025-2031).

The main reasons for this growth in the use of waste heat recovery systems are due to increasing industrial energy consumption, increased focus on energy efficiency, greater regulatory pressure to reduce emissions, and greater adoption of waste heat recovery technology in manufacturing, power generation, and heavy industry to improve costs and sustainability.

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Growth Factors for Waste Heat Recovery System Industry

Growing industrial energy consumption is creating an incentive to improve efficiency.
Growing regulatory mandates to reduce emissions and improve sustainability.
Increased adoption of technologies for power generation and heavy industry.Â Â
Technological improvements in heat exchangers and turbines in new waste heat recovery systems.
Strong emphasis on reducing costs through the reuse of energy.Â

Waste Heat Recovery System Market Trends

Waste heat recovery systems market trends show rising demand for advanced energy-efficient technologies in the cement, chemicals, oil and gas, and power generation industries. Combined heat and power (CHP) systems are increasingly more popular among users as systems to maximize energy usage. Sustainability goals are also pushing industries to adopt waste heat recovery systems as part of their segregated operations. Digital monitoring and IoT-enabled recovery systems are improving the overall efficiency, performance tracking, and predictive maintenance of waste heat recovery systems in industrial applications.

Emerging Developments in the Waste Heat Recovery System Market

The Waste Heat Recovery System Market developments emphasize adoption of next-generation turbines, thermoelectric generators, and organic Rankine cycle technologies for enhanced energy recovery. Manufacturers are focusing on modular solutions for easier integration into existing facilities. Partnerships between technology providers and industrial players are accelerating deployment. Companies are also developing digital twin-enabled systems for real-time performance optimization. Growing investment in renewable and hybrid energy solutions is further supporting market expansion, aligning with sustainability goals and carbon reduction initiatives.