Japan Waste Heat Recovery System Market Size & Outlook
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Japan waste heat recovery system market highlights
- The Japan waste heat recovery system market generated a revenue of USD 1,459.5 million in 2023 and is expected to reach USD 3,022.0 million by 2030.
- The Japan market is expected to grow at a CAGR of 11% from 2024 to 2030.
- In terms of segment, chemical was the largest revenue generating end user in 2023.
- Cement 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 1,459.5 million |
| Market revenue in 2030 | USD 3,022.0 million |
| Growth rate | 11% (CAGR from 2024 to 2030) |
| Largest segment | Chemical |
| Fastest growing segment | Cement |
| 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, Japan accounted for 2.7% 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 Asia Pacific, China waste heat recovery system market is projected to lead the regional market in terms of revenue in 2030.
- India is the fastest growing regional market in Asia Pacific and is projected to reach USD 4,785.9 million by 2030.
Chemical was the largest segment with a revenue share of 21.64% in 2023. Horizon Databook has segmented the Japan 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.
The waste heat recovery systems market in Japan has developed significantly on account of strong government support and strategic market focus. Technological developments have played the most crucial role in the advancement of the waste heat recovery system market in Japan.
Moreover, factors such as government policies for energy-efficient and clean power generation coupled with growing environmental concerns owing to the growing greenhouse gas emission from power plants are expected to propel the market for waste heat recovery systems in Japan over the forecast period.
Rising applications of waste heat recovery systems in various industries, such as chemicals and paper & pulp along with government support, are likely to create immense opportunities for the market.
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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 |
Japan waste heat recovery system market size, by application, 2018-2030 (US$M)
Japan Waste Heat Recovery System Market Outlook Share, 2023 & 2030 (US$M)
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