Oil and Gas Waste Heat Recovery Market 2019 Size, Share, Key Players, Revenue, Trends and Forecast To 2023embed
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
Global Non-Volatile Memory Market Research Report: Forecast to 2023 Global Oil and Gas Waste Heat Recovery Market Research Report: Forecast to 2023 Page |1 Copyright © 2017 Market Research Future. Global Non-Volatile Memory Market Research Report: Forecast to 2023 VIEW REPORT PRESS RELEASE SAMPLE REPORT Page |2 Copyright © 2017 Market Research Future. Global Non-Volatile Memory Market Research Report: Forecast to 2023 Summary As per Market Research Future (MRFR)’s analysis, the global oil gas waste heat recovery market has been projected to reach new scaling heights at a robust CAGR of 7.5% during the forecast period. The study also highlights the market’s valuation in the future as huge advancements are at its peak and the market predicts to show lucrative opportunities in the next couple of years. Oil gas waste heat recovery systems relate to increasing the overall efficiency of oil and gas exploration and production plant in a very cost-effective way while diminishing the demand for fuels at the same time. The method goes with reusing and capturing heat from streams of high energy produced during refining sequences in industrial areas. In recent times, industrial development continues to grow promptly, which is propelling large quantities of heat production. Its reuse and preservation have become an essential yet trouble of great anxiety for several industries. Several methods are being engaged on a grand scale in the industrial bodies from carbon emissions, greenhouse gas, operational costs, to reduce energy consumption. To overcome such issues, huge advancements are being made to cover up and convert it into electricity using Organic Rankine Cycle (ORC). Oil Gas Waste Heat Recovery Market: Drivers & Constraints At the same time, continuous evolution in industrialization across the globe has resulted in the generation of considerable waste energy as a by-product. The large-scale implementation of a waste heat recovery system in the oil & gas sector is expected to boost the industrial processes and substantially enhance their economic feasibility. The imminent factors for the growth of oil & gas waste heat recovery market are considered to be emerging economies due to the rising need for energy with exploration and production activities. Countries like the U.S, Canada, and Mexico are helping the market to grow substantially in the forecast period by investing a large share of the economy in converting oil & gas wastes into energy consumption solutions. With the tremendous high improvement in thermal equipment, the design has dominated the oil & gas waste heat recovery market throughout the forecast years. The enhancement in equipment design is predicted to generate high revenue. Also, power management solutions are also mounting owing to an industrial inclination towards it which is again expected to boost the growth of oil & gas waste heat recovery market with a higher CAGR in the years to come. Page |3 Copyright © 2017 Market Research Future. Global Non-Volatile Memory Market Research Report: Forecast to 2023 Market Segmentation 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 preheating. 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. Page |4 Copyright © 2017 Market Research Future. Global Non-Volatile Memory Market Research Report: Forecast to 2023 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 sustainable energy is providing an impetus to the APAC oil and gas waste heat recovery market. Apart from APAC, North America and Europe are also expected to present significant growth opportunities to market players. These regions are will remain important investment destination during the assessment period. Competitive Landscape ABB Ltd. (Switzerland), General Electric Company (U.S), Bono Energia (Italy), Harbin Electric Company Limited (China), Amec Foster Wheeler (U.K), Mitsubishi Heavy Industries Ltd. (Japan), Econotherm Ltd (U.K), Cool Energy, Inc. (U.S), Echogen Power Systems Inc.(U.S), Ormat Technologies (U.S), Thermax Limited (U.K), HRS (U.K), Siemens AG (Germany), Dongfang Electric Corporation (China) and China Energy Recovery (China) are among the top-notch companies that are profiled in MRFR’s report. Page |5 Copyright © 2017 Market Research Future. Global Non-Volatile Memory Market Research Report: Forecast to 2023 owned company based in Norway that has developed a field-proven portfolio of completion systems and intervention tools. Page |6 Copyright © 2017 Market Research Future.