Germany Waste Heat Recovery System Market Size & Outlook
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Germany waste heat recovery system market highlights
- The Germany waste heat recovery system market generated a revenue of USD 1,415.4 million in 2023 and is expected to reach USD 2,868.7 million by 2030.
- The Germany market is expected to grow at a CAGR of 10.6% from 2024 to 2030.
- In terms of segment, power was the largest revenue generating end user in 2023.
- Paper & Pulp is the most lucrative end user segment registering the fastest growth during the forecast period.
Waste heat recovery system market data book summary
| Market revenue in 2023 | USD 1,415.4 million |
| Market revenue in 2030 | USD 2,868.7 million |
| Growth rate | 10.6% (CAGR from 2024 to 2030) |
| Largest segment | Power |
| Fastest growing segment | Paper & Pulp |
| Historical data | 2018 - 2022 |
| Base year | 2023 |
| Forecast period | 2024 - 2030 |
| Quantitative units | Revenue in USD million |
| Market segmentation | Petroleum Refinery, Chemical, Cement, Metal Production & Casting, Paper & Pulp, Power |
| Key market players worldwide | Siemens Energy AG Ordinary Shares, Mitsubishi Corp, GE Aerospace, ABB Ltd, Terna SpA, IHI Corp, Molson Coors Beverage Co Class A |
Other key industry trends
- In terms of revenue, Germany accounted for 2.6% of the global waste heat recovery system market in 2023.
- Country-wise, U.S. is expected to lead the global market in terms of revenue in 2030.
- In Europe, Spain waste heat recovery system market is projected to lead the regional market in terms of revenue in 2030.
- Germany is the fastest growing regional market in Europe and is projected to reach USD 2,868.7 million by 2030.
Power was the largest segment with a revenue share of 21.27% in 2023. Horizon Databook has segmented the Germany waste heat recovery system market based on petroleum refinery, chemical, cement, metal production & casting, paper & pulp, power covering the revenue growth of each sub-segment from 2018 to 2030.
Germany is among the leading markets for waste heat recovery installation in the European region. In November 2016, Climate Action Plan 2050 was adopted by the government of Germany. With this, Germany became the first participant of the Paris Agreement to submit its low-greenhouse gas emission development strategy to the United Nations.
The plan was designed to achieve the goals and targets that the country pledged in the Paris Agreement, with an aim to achieve global greenhouse gas neutrality in 2050. One of the major long-term goals of Germany is to become a neutral nation, in terms of greenhouse gas emissions, by 2025.
In May 2022, Alfa Laval developed technology to recover industrial waste heat for reuse in district heating in Hamburg, Germany. Initially, the project was installed in 2018 and the company planned to expand the project to provide heating for over 23,000 residential, commercial, and educational properties.
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Waste Heat Recovery System Market Scope
Waste Heat Recovery System Market Companies
| Name | Profile | # Employees | HQ | Website |
|---|---|---|---|---|
| Terna SpA | View profile | 5927 | Viale Egidio Galbani, 70, Rome, Italy, 00156 | https://www.terna.it |
| Siemens Energy AG Ordinary Shares | View profile | 97000 | Otto-Hahn-Ring 6, Munich, BY, Germany, 81739 | https://www.siemens-energy.com |
| IHI Corp | View profile | 28486 | 1-1, Toyosu 3-chome, Koto-ku, Tokyo, Japan, 135-8710 | http://www.ihi.co.jp |
| Molson Coors Beverage Co Class A | View profile | 16500 | NH353, P.O. Box 4030, Golden, CO, United States, 80401 | https://www.molsoncoors.com |
| Mitsubishi Corp | View profile | 105267 | Mitsubishi Shoji Building 3-1, Marunouchi 2-chome, Chiyoda-ku, Tokyo, Japan, 100-8086 | https://www.mitsubishicorp.com |
| GE Aerospace | View profile | 125000 | One Financial Center, Suite 3700, Boston, MA, United States, 02111 | https://www.geaerospace.com |
| ABB Ltd | View profile | 108700 | Affolternstrasse 44, Zurich, Switzerland, 8050 | https://www.abb.com |
Germany waste heat recovery system market size, by application, 2018-2030 (US$M)
Germany Waste Heat Recovery System Market Outlook Share, 2023 & 2030 (US$M)
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