Oil and Gas Waste Heat Recovery Market – Overview
The need to effectively utilize the oil and gas products are motivating the oil and gas waste heat recovery market 2020. The energy and power industry reports are created by Market Research Future, which centers on market choices for expansion. A 7.5% CAGR is anticipated to create opportunities for development in the impending period.
The rise in use of the power conversion processes is predicted to accelerate the development of the oil and gas waste heat recovery system market in the approaching period. Moreover, the increasing focus on waste energy is predicted to create favorable opportunities for the oil and gas waste heat recovery market in the forecast period.
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The segmental review of the oil and gas waste heat recovery market has been segmented into equipment, sector, application, and region.
On the basis of the sector, the oil and gas waste heat recovery market is segmented into midstream, upstream, and downstream.
Based on the applications, the oil and gas waste heat recovery market is segmented into electricity power generation, thermal, and others.
On the basis of equipment, the oil and gas waste heat recovery market is segmented into boilers, heat recovery steam generators, heat exchangers, turbines, and others.
On the basis of end-user, the oil and gas waste heat recovery market is segmented into residential, commercial, and others.
Based on the regions, the oil and gas waste heat recovery market includes regions such as APAC, the North America, Europe and rest of the regions.
The regional assessment of the oil and gas waste heat recovery market includes regions such as APAC, the North America, Europe and the rest of the regions.
The market is anticipated to observe outstanding development throughout the forecast period. The Asia Pacific region controlled the oil and gas waste heat recovery market in the year 2016. In the Asia Pacific region, the speedy industrialization, together with collective emphasis on sustainable energy in nations such as India, China, Japan, and Southeast Asian countries are expected to motivate the waste heat recovery system market growth in the forecast period. The North American and European region is anticipated to observe significant development through the forecast period. The development is principally credited to the growing industrialization together with government initiatives concerning energy-efficient solutions in the coming period.
The market is foreseen to be driven by developments in technology in the upcoming period. The existing state of the economy is projected to spur the market in the future. The products and services in the market are fine-tuned to meet the consumer requirements favorably in the forecast period. Government support for the market is anticipated to create new opportunities for growth. The market size is also projected to develop at an incremental pace in the forecast period. The impediments to market success are swiftly and effectively being addressed so as to reduce the eventuality of a slump in the market. The availability of funding though strong backers in the market, is predicted to enhance the market’s global standing further. The innovations in the market are being induced by effective research of consumer’s likings. The expansion of resources being used in the market is expected to be revolutionized with the effective allotment of resources.
The strategic companies in the oil and gas waste heat recovery market are General Electric Company (U.S), Ormat Technologies (U.S), ABB Ltd. (Switzerland), Bono Energia (Italy), Thermax Limited (U.K), Harbin Electric Company Limited (China), Echogen Power Systems Inc. (U.S), China Energy Recovery (China), Dongfang Electric Corporation (China), Siemens AG (Germany), Amec Foster Wheeler (U.K), HRS (U.K), Mitsubishi Heavy Industries Ltd. (Japan), Econotherm Ltd (U.K), and Cool Energy, Inc. (U.S).
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