Waste Heat Recovery Market Projected to Grow 45% to $135B by 2031
Market research firm MarketsandMarkets projects the global waste heat recovery market will expand from $93B (2026) to $135B (2031), implying ~8% compound annual growth. The forecast reflects rising industrial energy efficiency mandates and decarbonization pressure.
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What happened
MarketsandMarkets published a market sizing report projecting waste heat recovery market value of $92.99B in 2026 and $135.33B in 2031.
Why it matters
Waste heat recovery captures thermal energy from industrial processes for reuse, reducing fuel consumption and emissions. Growth signals accelerating adoption driven by energy costs, regulatory carbon pricing, and corporate net-zero commitments. Expansion supports industrial equipment manufacturers, energy services, and process optimization vendors.
Market transmission
Rising capex allocation to heat recovery systems → lower operating costs and emissions intensity for heavy industry (steel, chemicals, refining) → improved EBITDA margins and ESG metrics → valuation support for industrial efficiency and cleantech subsectors. Secondary: increased demand for specialized equipment and engineering services.
What to watch
Confirmation: capex announcements from major industrial operators; regulatory tightening on industrial emissions; technology cost curves and payback periods. Invalidation: sustained low energy prices; regulatory rollback; competing decarbonization technologies (electrification, hydrogen).
Source:PR Newswire
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