South Africa Waste Heat Recovery System Market Size & Outlook
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South Africa waste heat recovery system market highlights
- The South Africa waste heat recovery system market generated a revenue of USD 1,055.2 million in 2023 and is expected to reach USD 2,128.3 million by 2030.
- The South Africa market is expected to grow at a CAGR of 10.5% from 2024 to 2030.
- In terms of segment, petroleum refinery was the largest revenue generating end user in 2023.
- Power 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 1,055.2 million |
| Market revenue in 2030 | USD 2,128.3 million |
| Growth rate | 10.5% (CAGR from 2024 to 2030) |
| Largest segment | Petroleum refinery |
| Fastest growing segment | Power |
| 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, South Africa accounted for 1.9% 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 Middle East & Africa, Saudi Arabia waste heat recovery system market is projected to lead the regional market in terms of revenue in 2030.
- UAE is the fastest growing regional market in Middle East & Africa and is projected to reach USD 2,982.3 million by 2030.
Petroleum refinery was the largest segment with a revenue share of 25.63% in 2023. Horizon Databook has segmented the South Africa 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.
South Africa has been grappling with energy shortages, and waste heat recovery systems offer an effective way to harness and utilize excess heat generated in various industrial processes, reducing energy consumption and greenhouse gas emissions.
The industrial sector in South Africa, including mining, manufacturing, and petrochemicals, has been expanding steadily. These industries generate substantial amounts of waste heat, making promising opportunities for WHRS manufacturers. As these sectors continue to grow, the demand for efficient heat recovery systems is expected to rise correspondingly.
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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 |
South Africa waste heat recovery system market size, by application, 2018-2030 (US$M)
South Africa Waste Heat Recovery System Market Outlook Share, 2023 & 2030 (US$M)
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