The massive unexplored waste heat recovery market across the globe has created abundant opportunities for the major players to exploit its potential. Although, there has been significant development in the developed economies of European Union and the U.S., the waste heat recovery market is still at its nascent form especially in the developing countries of Asia-Pacific, Latin America, and Africa. A high growth in the end-user industries has been witnessed in the developing countries of these regions, which is responsible for providing immense growth opportunities for the waste heat recovery market in these regions. Moreover, the increasing government initiatives and tax benefits are expected to attract major players to invest in the development of efficient waste heat management systems.
To Browse Full Report Visit Here: https://www.psmarketresearch.com/market-analysis/waste-heat-recovery-market
The petroleum refining segment held the largest share among the various end-users in the global waste heat recovery market in 2015, and it is also expected to retain its dominance during the forecast period.
The global waste heat recovery market is expected to grow at a CAGR of 6.8% during 2016-2022. The major factors driving the growth of the global market include increased government initiatives and stringent regulations, increasing energy and electricity cost, and technological advancements and increasing investment by large scale industries for the installation and development of waste heat recovery systems. The different governments across the globe have initiated several projects and schemes to promote and encourage the conservation and efficient utilization of energy lost in industrial sectors.
Request for Report Sample: https://www.psmarketresearch.com/market-analysis/waste-heat-recovery-market/report-sample
During 2012-2015, Europe held the largest share in the global waste heat recovery market. The European market is growing, due to early...