Italy Waste Heat Recovery System Market Size & Outlook
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Italy waste heat recovery system market highlights
- The Italy waste heat recovery system market generated a revenue of USD 1,907.1 million in 2023 and is expected to reach USD 3,682.7 million by 2030.
- The Italy market is expected to grow at a CAGR of 9.9% from 2024 to 2030.
- In terms of segment, chemical was the largest revenue generating end user in 2023.
- Petroleum Refinery 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 1,907.1 million |
| Market revenue in 2030 | USD 3,682.7 million |
| Growth rate | 9.9% (CAGR from 2024 to 2030) |
| Largest segment | Chemical |
| Fastest growing segment | Petroleum Refinery |
| 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, Italy accounted for 3.5% 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.
Chemical was the largest segment with a revenue share of 20.64% in 2023. Horizon Databook has segmented the Italy 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.
Italy is an attractive market for waste heat recovery systems in Europe. The growing demand for waste heat recovery systems in the country is attributed to the growing concerns about Greenhouse Gas (GHG) emissions and strict regulations to decrease the overall carbon footprint.
The growing awareness regarding WHR systems and initiatives taken by the government to produce energy through waste have been the key driving factors for the market in this country.
Waste heat recovery projects are under development by various cement manufacturing companies in the country over the forecast period. For instance, in May 2023, Italy-based CTP TEAM S.R.L. announced its plans to install a new WHRS at Medcem Cimento’s Mersin plant.
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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 |
Italy waste heat recovery system market size, by end user, 2018-2030 (US$M)
Italy Waste Heat Recovery System Market Outlook Share, 2023 & 2030 (US$M)
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