Oil and Gas Waste Heat Recovery Market Research Report – Forecast to 2027

Global Oil and Gas Waste Heat Recovery Market By Sector (Upstream, Midstream, Downstream), Application (Thermal, Electricity Power Generation), Equipment (Heat Exchangers, Boilers, Heat Recovery Steam Generators, Turbines), End-User, and Region

ID: MRFR/E&P/4447-HCR | February 2021 | Region: Global | 100 pages

Please note that the assessment period of report has been updated from 2017-2023 to 2020-2027. Cordially fill the sample form for updated data.

Market Scenario


Waste heat recovery systems are amongst the utmost cost-effective way to increase the overall efficiency of the oil & gas exploration and production plant, while diminishing the fuel demand. Large quantities of fuel such as coal, oil and gas, which are used to produce power through conventional power plants are wasted due to the confines of the power conversion processes. The exhaust gas emitted from various processes of the oil & gas plant, exhibits a large amount of the energy, this energy produced is called as waste heat. The industrial process often produces enough waste energy to generate electricity. Waste Heat Recovery Units (WHRUs) or heat to power units can recover the waste heat and convert it into electricity by using Organic Rankine Cycle (ORC). Any major exhaust gas stream with temperatures above 3000F has a vital potential for significant waste heat recovery feasibility. Waste heat temperatures can vary significantly, in relevance to permitting heat transfer and recovery; it is essential that the waste heat source temperature is higher as compared to the heat sink temperature.


Global oil and gas waste heat recovery market has been segmented based on sector, application, equipment, end-user, and region. Based on sector, the market is segmented into upstream, midstream, and downstream. Among these, the downstream segment is projected to dominate the oil and gas waste heat recovery market until 2023. The downstream sector consists of refineries and petrochemical complex, which generate a huge amount of waste energy during its operations, thus, giving an extra advantage of utilizing waste energy. Based on application, the market is segmented into thermal, electricity power generation, and others. Thermal segment dominated the market in 2016 and is projected to be the fastest growing application segment for oil and gas waste heat recovery market. Thermal waste heat recovery is highly efficient and vitally used for pre-heating and steam generation process. Based on equipment, the market is segmented into heat exchangers, boilers, heat recovery steam generators, turbines, and others. The wide application of heat exchangers along all major end-user is expected to drive the equipment segment in waste heat recovery market over the forecast period. Based on the end-user, the market is segmented into commercial, residential, and others. Residential segment held the largest share in 2016, owing to the huge demand for energy.


Oil and gas waste heat recovery industry is expected to have a huge number of advancements throughout the forecast period, owing to the continuous developments in end-use industry coupled with growing disposable income. The market is also expected to have high expansion activities by multinationals and well-established companies.


Global oil and gas waste heat recovery market is estimated to witness 7.5% CAGR during the forecast period.


Market Segmentation


 oil and gas waste heat recovery market


Global Oil and Gas Waste Heat Recovery Market


The global oil and gas waste heat recovery market are expected to witness a phenomenal growth during the forecast period. Asia Pacific dominated the global oil and gas waste heat recovery market in 2016. In Asia Pacific, rapid industrialization coupled with increasing emphasis on sustainable energy in China, India, Japan and Southeast Asian Countries is likely to drive waste heat recovery system market growth throughout the forecast period. North America and Europe are expected to witness significant growth throughout the forecast period. The growth is primarily attributed to growing industrialization coupled with government initiatives regarding energy efficient solutions.  


Key Players


The key players of global oil and gas waste heat recovery market are ABB Ltd. (Switzerland), Ormat Technologies (U.S), General Electric Company (U.S), China Energy Recovery (China), Bono Energia (Italy), HRS (U.K), Harbin Electric Company Limited (China), Dongfang Electric Corporation (China), Amec Foster Wheeler (U.K), Siemens AG (Germany), Mitsubishi Heavy Industries Ltd. (Japan), Echogen Power Systems Inc.(U.S), Econotherm Ltd (U.K), Thermax Limited (U.K), and Cool Energy, Inc. (U.S).



Frequently Asked Questions (FAQ) :


Sector, application, equipment, end-user are the segments of the market.

The market gained ~7.5% CAGR.

Dongfang Electric Corporation (China), Siemens AG (Germany), Ormat Technologies (U.S), General Electric Company (U.S), HRS (U.K), Bono Energia (Italy), ABB Ltd. (Switzerland), Harbin Electric Company Limited (China), China Energy Recovery (China), Amec Foster Wheeler (U.K) are the key players of the market.

North America and Europe are towitness significant growth throughout the forecast period.

Oil and gas waste heat recovery industry will have a huge number of advancements due to the nonstop developments in end-use industry coupled with growing disposable income.

Table of content

1 Executive Summary

2 Scope of the Report

2.1 Market Definition

2.2 Scope of the Study

2.2.1 Definition

2.2.2 Research Objective

2.2.3 Assumptions

2.2.4 Limitations

2.3 Research Process

2.3.1 Primary Research

2.3.2 Secondary Research

2.4 Market size Estimation

2.5 Forecast Model

3 Market Landscape

3.1 Porter’s Five Forces Analysis

3.1.1 Threat of New Entrants

3.1.2 Bargaining power of buyers

3.1.3 Bargaining power of suppliers

3.1.4 Threat of substitutes

3.1.5 Segment rivalry

3.2 Value Chain/Supply Chain Analysis

4 Market Dynamics

4.1 Introduction

4.2 Market Drivers

4.3 Market Restraints

4.4 Market Opportunities

4.5 Market Trends

5 Global Oil and Gas Waste Heat Recovery Market, By Sector

5.1 Introduction

5.2 Upstream

5.2.1 Market Estimates & Forecast, 2020-2027

5.2.2 Market Estimates & Forecast by Region, 2020-2027

5.3 Midstream

5.3.1 Market Estimates & Forecast, 2020-2027

5.3.2 Market Estimates & Forecast by Region, 2020-2027

5.4 Downstream

5.4.1 Market Estimates & Forecast, 2020-2027

5.4.2 Market Estimates & Forecast by Region, 2020-2027

6 Global Oil and Gas Waste Heat Recovery Market, By Application

6.1 Introduction

6.2 Thermal

6.2.1 Market Estimates & Forecast, 2020-2027

6.2.2 Market Estimates & Forecast by Region, 2020-2027

6.3 Electricity Power Generation

6.3.1 Market Estimates & Forecast, 2020-2027

6.3.2 Market Estimates & Forecast by Region, 2020-2027

7 Global Oil and Gas Waste Heat Recovery Market, By Equipment

7.1 Introduction

7.2 Heat Exchangers

7.2.1 Market Estimates & Forecast, 2020-2027

7.2.2 Market Estimates & Forecast by Region, 2020-2027

7.3 Boilers

7.3.1 Market Estimates & Forecast, 2020-2027

7.3.2 Market Estimates & Forecast by Region, 2020-2027

7.4 Heat Recovery Steam Generators

7.4.1 Market Estimates & Forecast, 2020-2027

7.4.2 Market Estimates & Forecast by Region, 2020-2027

7.5 Turbines

7.5.1 Market Estimates & Forecast, 2020-2027

7.5.2 Market Estimates & Forecast by Region, 2020-2027

7.6 Tanks

7.6.1 Market Estimates & Forecast, 2020-2027

7.6.2 Market Estimates & Forecast by Region, 2020-2027

8 Global Oil and Gas Waste Heat Recovery Market, By End-User

8.1 Introduction

8.2 Commercial

8.2.1 Market Estimates & Forecast, 2020-2027

8.2.2 Market Estimates & Forecast by Region, 2020-2027

8.3 Residential

8.3.1 Market Estimates & Forecast, 2020-2027

8.3.2 Market Estimates & Forecast by Region, 2020-2027

8.4 Others

8.4.1 Market Estimates & Forecast, 2020-2027

8.4.2 Market Estimates & Forecast by Region, 2020-2027

9 Global Oil and Gas Waste Heat Recovery Market, By Region

9.1 Introduction

9.2 North America

9.2.1 Market Estimates & Forecast, 2020-2027

9.2.2 Market Estimates & Forecast by Sector, 2020-2027

9.2.3 Market Estimates & Forecast by Application, 2020-2027

9.2.4 Market Estimates & Forecast by Equipment, 2020-2027

9.2.4 Market Estimates & Forecast by End-User, 2020-2027

9.2.5 U.S.

9.2.5.1 Market Estimates & Forecast, 2020-2027

9.2.5.2 Market Estimates & Forecast by Sector, 2020-2027

9.2.5.3 Market Estimates & Forecast by Application, 2020-2027

9.2.5.4 Market Estimates & Forecast by Equipment, 2020-2027

9.2.5.4 Market Estimates & Forecast by End-User, 2020-2027

9.2.6 Canada

9.2.6.1 Market Estimates & Forecast, 2020-2027

9.2.6.2 Market Estimates & Forecast by Sector, 2020-2027

9.2.6.3 Market Estimates & Forecast by Application, 2020-2027

9.2.6.4 Market Estimates & Forecast by Equipment, 2020-2027

9.2.6.4 Market Estimates & Forecast by End-User, 2020-2027

9.3 Europe

9.3.1 Market Estimates & Forecast, 2020-2027

9.3.2 Market Estimates & Forecast by Sector, 2020-2027

9.3.3 Market Estimates & Forecast by Application, 2020-2027

9.3.4 Market Estimates & Forecast by Equipment, 2020-2027

9.3.4 Market Estimates & Forecast by End-User, 2020-2027

9.3.5 U.K

9.3.5.1 Market Estimates & Forecast, 2020-2027

9.3.5.2 Market Estimates & Forecast by Sector, 2020-2027

9.3.5.3 Market Estimates & Forecast by Application, 2020-2027

9.3.5.4 Market Estimates & Forecast by Equipment, 2020-2027

9.3.5.4 Market Estimates & Forecast by End-User, 2020-2027

9.3.6 Germany

9.3.6.1 Market Estimates & Forecast, 2020-2027

9.3.6.2 Market Estimates & Forecast by Sector, 2020-2027

9.3.6.3 Market Estimates & Forecast by Application, 2020-2027

9.3.6.4 Market Estimates & Forecast by Equipment, 2020-2027

9.3.6.4 Market Estimates & Forecast by End-User, 2020-2027

9.3.7 France

9.3.7.1 Market Estimates & Forecast, 2020-2027

9.3.7.2 Market Estimates & Forecast by Sector, 2020-2027

9.3.7.3 Market Estimates & Forecast by Application, 2020-2027

9.3.7.4 Market Estimates & Forecast by Equipment, 2020-2027

9.3.7.4 Market Estimates & Forecast by End-User, 2020-2027

9.3.8 Italy

9.3.8.1 Market Estimates & Forecast, 2020-2027

9.3.8.2 Market Estimates & Forecast by Sector, 2020-2027

9.3.8.3 Market Estimates & Forecast by Application, 2020-2027

9.3.8.4 Market Estimates & Forecast by Equipment, 2020-2027

9.3.8.4 Market Estimates & Forecast by End-User, 2020-2027

9.3.9 Rest of Europe

9.3.9.1 Market Estimates & Forecast, 2020-2027

9.3.9.2 Market Estimates & Forecast by Sector, 2020-2027

9.3.9.3 Market Estimates & Forecast by Application, 2020-2027

9.3.9.4 Market Estimates & Forecast by Equipment, 2020-2027

9.3.9.4 Market Estimates & Forecast by End-User, 2020-2027

9.4 Asia Pacific

9.4.1 Market Estimates & Forecast, 2020-2027

9.4.2 Market Estimates & Forecast by Sector, 2020-2027

9.4.3 Market Estimates & Forecast by Application, 2020-2027

9.4.4 Market Estimates & Forecast by Equipment, 2020-2027

9.4.4 Market Estimates & Forecast by End-User, 2020-2027

9.4.5 China

9.4.5.1 Market Estimates & Forecast, 2020-2027

9.4.5.2 Market Estimates & Forecast by Sector, 2020-2027

9.4.5.3 Market Estimates & Forecast by Application, 2020-2027

9.4.5.4 Market Estimates & Forecast by Equipment, 2020-2027

9.4.5.4 Market Estimates & Forecast by End-User, 2020-2027

9.4.6 Japan

9.4.6.1 Market Estimates & Forecast, 2020-2027

9.4.6.2 Market Estimates & Forecast by Sector, 2020-2027

9.4.6.3 Market Estimates & Forecast by Application, 2020-2027

9.4.6.4 Market Estimates & Forecast by Equipment, 2020-2027

9.4.6.4 Market Estimates & Forecast by End-User, 2020-2027

9.4.7 India

9.4.7.1 Market Estimates & Forecast, 2020-2027

9.4.7.2 Market Estimates & Forecast by Sector, 2020-2027

9.4.7.3 Market Estimates & Forecast by Application, 2020-2027

9.4.7.4 Market Estimates & Forecast by Equipment, 2020-2027

9.4.7.4 Market Estimates & Forecast by End-User, 2020-2027

9.4.8 Rest of Asia Pacific

9.4.8.1 Market Estimates & Forecast, 2020-2027

9.4.8.2 Market Estimates & Forecast by Sector, 2020-2027

9.4.8.3 Market Estimates & Forecast by Application, 2020-2027

9.4.8.4 Market Estimates & Forecast by Equipment, 2020-2027

9.4.8.4 Market Estimates & Forecast by End-User, 2020-2027

9.5 Rest of the World

9.5.1 Market Estimates & Forecast, 2020-2027

9.5.2 Market Estimates & Forecast by Sector, 2020-2027

9.5.3 Market Estimates & Forecast by Application, 2020-2027

9.5.4 Market Estimates & Forecast by Equipment, 2020-2027

9.5.4 Market Estimates & Forecast by End-User, 2020-2027

10 Competitive Landscape

11 Company Profile

11.1 ABB Ltd.

11.1.1 Company Overview

11.1.2 Product/Services Offering

11.1.3 Financial Overview

11.1.4 Key Developments

11.1.5 Strategy

11.1.6 SWOT Analysis

11.2 Ormat Technologies

11.2.1 Company Overview

11.2.2 Product /Services Offering

11.2.3 Financial Overview

11.2.4 Key Developments

11.2.5 Strategy

11.2.6 SWOT Analysis

11.3 General Electric Company

11.3.1 Company Overview

11.3.2 Product /Services Offering

11.3.3 Financial Overview

11.3.4 Key Developments

11.3.5 Strategy

11.3.6 SWOT Analysis

11.4 China Energy Recovery

11.4.1 Company Overview

11.4.2 Product /Services Offering

11.4.3 Financial Overview

11.4.4 Key Developments

11.4.5 Strategy

11.4.6 SWOT Analysis

11.5 Bono Energia

11.5.1 Company Overview

11.5.2 Product /Services Offering

11.5.3 Financial Overview

11.5.4 Key Developments

11.5.5 Strategy

11.5.6 SWOT Analysis

11.6 HRS

11.6.1 Company Overview

11.6.2 Product /Services Offering

11.6.3 Financial Overview

11.6.4 Key Developments

11.6.5 Strategy

11.6.6 SWOT Analysis

11.7 Harbin Electric Company Limited

11.7.1 Company Overview

11.7.2 Product /Services Offering

11.7.3 Financial Overview

11.7.4 Key Developments

11.7.5 Strategy

11.7.6 SWOT Analysis

11.8 Dongfang Electric Corporation

11.8.1 Company Overview

11.8.2 Product /Services Offering

11.8.3 Financial Overview

11.8.4 Key Developments

11.8.5 Strategy

11.8.6 SWOT Analysis

11.9 Amec Foster Wheeler

11.9.1 Company Overview

11.9.2 Product /Services Offering

11.9.3 Financial Overview

11.9.4 Key Developments

11.9.5 Strategy

11.9.6 SWOT Analysis

11.10 Siemens AG

11.10.1 Company Overview

11.10.2 Product /Services Offering

11.10.3 Financial Overview

11.10.4 Key Developments

11.10.5 Strategy

11.11 Mitsubishi Heavy Industries Ltd.

11.11.1 Company Overview

11.11.2 Product /Services Offering

11.11.3 Financial Overview

11.11.4 Key Developments

11.11.5 Strategy

11.11.6 SWOT Analysis

11.12 Echogen Power Systems Inc.

11.12.1 Company Overview

11.12.2 Product /Services Offering

11.12.3 Financial Overview

11.12.4 Key Developments

11.12.5 Strategy

11.12.6 SWOT Analysis

11.13 Econotherm Ltd.

11.13.1 Company Overview

11.13.2 Product /Services Offering

11.13.3 Financial Overview

11.13.4 Key Developments

11.13.5 Strategy

11.13.6 SWOT Analysis

11.14 Thermax Limited

11.14.1 Company Overview

11.14.2 Product /Services Offering

11.14.3 Financial Overview

11.14.4 Key Developments

11.14.5 Strategy

11.15 Cool Energy, Inc.

11.15.1 Company Overview

11.15.2 Product /Services Offering

11.15.3 Financial Overview

11.15.4 Key Developments

11.15.5 Strategy

11.15.6 SWOT Analysis 

List of Tables

Table 1 Global Oil and Gas Waste Heat Recovery Market: By Region, 2020-2027

Table 2 North America Oil and Gas Waste Heat Recovery Market: By Country, 2020-2027

Table 3 Europe Oil and Gas Waste Heat Recovery Market: By Country, 2020-2027

Table 4 Asia Pacific Oil and Gas Waste Heat Recovery Market: By Country, 2020-2027

Table 5 RoW Oil and Gas Waste Heat Recovery Market: By Country, 2020-2027

Table 6 Global Oil and Gas Waste Heat Recovery Market, by Sector, By Regions, 2020-2027

Table 7 North America Oil and Gas Waste Heat Recovery Market, by Sector, By Country, 2020-2027

Table 8 Europe Oil and Gas Waste Heat Recovery Market, by Resin type, By Country, 2020-2027

Table 9 Asia Pacific Oil and Gas Waste Heat Recovery Market by Sector, By Country, 2020-2027

Table 10 RoW Oil and Gas Waste Heat Recovery Market by Sector, By Country, 2020-2027

Table 11 Global Oil and Gas Waste Heat Recovery Market by Application Market: By Regions, 2020-2027

Table 12 North America Oil and Gas Waste Heat Recovery Market by Application: By Country, 2020-2027

Table 13 Europe Oil and Gas Waste Heat Recovery Market by Application: By Country, 2020-2027

Table 14 Asia Pacific Oil and Gas Waste Heat Recovery Market by Application: By Country, 2020-2027

Table 15 RoW Oil and Gas Waste Heat Recovery Market by Application: By Country, 2020-2027

Table 16 Global Oil and Gas Waste Heat Recovery Market, by Equipment, By Regions, 2020-2027

Table 17 North America Oil and Gas Waste Heat Recovery Market, by Equipment, By Country, 2020-2027

Table 18 Europe Oil and Gas Waste Heat Recovery Market, by Equipment, By Country, 2020-2027

Table 19 Asia Pacific Oil and Gas Waste Heat Recovery Market, by Equipment, By Country, 2020-2027

Table 20 RoW Oil and Gas Waste Heat Recovery Market, by Equipment, By Country, 2020-2027

Table 21 Global Oil and Gas Waste Heat Recovery Market: By Region, 2020-2027

Table 22 Global Oil and Gas Waste Heat Recovery Market: By Region, 2020-2027

Table 23 Global Oil and Gas Waste Heat Recovery Market: By Region, 2020-2027

Table 24 North America Oil and Gas Waste Heat Recovery Market, By Country

Table 25 North America Oil and Gas Waste Heat Recovery Market, by Sector

Table 26 North America Oil and Gas Waste Heat Recovery Market, by Application

Table 27 North America Oil and Gas Waste Heat Recovery Market, By Equipment

Table 28 North America Oil and Gas Waste Heat Recovery Market, By End-User

Table 29 Europe: Oil and Gas Waste Heat Recovery Market, By Country

Table 30 Europe: Oil and Gas Waste Heat Recovery Market, by Sector

Table 31 Europe: Oil and Gas Waste Heat Recovery Market, by Application

Table 32 Europe: Oil and Gas Waste Heat Recovery Market, By Equipment

Table 33 Europe: Oil and Gas Waste Heat Recovery Market, By End-User

Table 34 Asia Pacific: Oil and Gas Waste Heat Recovery Market, By Country

Table 35 Asia Pacific: Oil and Gas Waste Heat Recovery Market, by Sector

Table 36 Asia Pacific: Oil and Gas Waste Heat Recovery Market, by Application

Table 37 Asia Pacific: Oil and Gas Waste Heat Recovery Market, By Equipment

Table 38 Asia Pacific: Oil and Gas Waste Heat Recovery Market, By End-User

Table 39 RoW: Oil and Gas Waste Heat Recovery Market, By Region

Table 40 RoW Oil and Gas Waste Heat Recovery Market, by Sector

Table 41 RoW Oil and Gas Waste Heat Recovery Market, by Application

Table 42 RoW Oil and Gas Waste Heat Recovery Market, By Equipment

Table 43 RoW Oil and Gas Waste Heat Recovery Market, By End-User


List of Figures

FIGURE 1 RESEARCH PROCESS OF MRFR

FIGURE 2 TOP DOWN & BOTTOM UP APPROACH

FIGURE 3 MARKET DYNAMICS

FIGURE 4 IMPACT ANALYSIS: MARKET DRIVERS

FIGURE 5 IMPACT ANALYSIS: MARKET RESTRAINTS

FIGURE 6 PORTER’S FIVE FORCES ANALYSIS

FIGURE 7 VALUE CHAIN ANALYSIS

FIGURE 8 GLOBAL OIL AND GAS WASTE HEAT RECOVERY MARKETSHARE, BY SECTOR, 2020 (%)

FIGURE 9 GLOBAL OIL AND GAS WASTE HEAT RECOVERY MARKET, BY SECTOR, 2020-2027 (USD MILLION)

FIGURE 10 GLOBAL OIL AND GAS WASTE HEAT RECOVERY MARKETSHARE, BY EQUIPMENT, 2020 (%)

FIGURE 11 GLOBAL OIL AND GAS WASTE HEAT RECOVERY MARKET, BY EQUIPMENT, 2020-2027 (USD MILLION)

FIGURE 12 GLOBAL OIL AND GAS WASTE HEAT RECOVERY MARKET SHARE (%), BY REGION, 2020

FIGURE 13 GLOBAL OIL AND GAS WASTE HEAT RECOVERY MARKET, BY REGION, 2020-2027 (USD MILLION)

FIGURE 14 NORTH AMERICA OIL AND GAS WASTE HEAT RECOVERY MARKETSHARE (%), 2020

FIGURE 15 NORTH AMERICA OIL AND GAS WASTE HEAT RECOVERY MARKETBY COUNTRY, 2020-2027 (USD MILLION)

FIGURE 16 EUROPE OIL AND GAS WASTE HEAT RECOVERY MARKETSHARE (%), 2020

FIGURE 17 EUROPE OIL AND GAS WASTE HEAT RECOVERY MARKETBY COUNTRY, 2020-2027 (USD MILLION)

FIGURE 18 ASIA PACIFIC OIL AND GAS WASTE HEAT RECOVERY MARKETSHARE (%), 2020

FIGURE 19 ASIA PACIFIC OIL AND GAS WASTE HEAT RECOVERY MARKETBY COUNTRY, 2020-2027 (USD MILLION)

FIGURE 20 REST OF THE WORLD OIL AND GAS WASTE HEAT RECOVERY MARKETSHARE (%), 2020

FIGURE 21 REST OF THE WORLD OIL AND GAS WASTE HEAT RECOVERY MARKETBY COUNTRY, 2020-2027 (USD MILLION)