Oil & gas waste heat recovery is the process of extracting and reusing heat from the streams of large energy produced during the refining process in the oil & gas plant. The continuous evolution in industrialization across the globe has resulted in the generation of large waste energy as a by-product. Numerous large-scale methods are employed in the oil & gas sector to reduce overall energy consumption, operational cost, and greenhouse gas & carbon emissions. The large-scale implementation of waste heat recovery system in the oil & gas sector is expected to boost the industrial processes and substantially enhance their economic feasibility.

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Key Players

The key players of global oil and gas waste heat recovery market are ABB Ltd. (Switzerland), Ormat Technologies (U.S.), General Electric Company (U.S.), China Energy Recovery (China), Bono Energia (Italy), HRS (U.K), Harbin Electric Company Limited (China), Dongfang Electric Corporation (China), Amec Foster Wheeler (U.K), Siemens AG (Germany), Mitsubishi Heavy Industries Ltd. (Japan), Echogen Power Systems Inc.(U.S.), Econotherm Ltd (U.K), Thermax Limited (U.K) and Cool Energy, Inc. (U.S.).

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Segmental Analysis

Global oil and gas waste heat recovery market has been segmented based on sector, application, equipment, end-user, and region.

Based on sector, the market is segmented into upstream, midstream, and downstream. Among these, the downstream segment is projected to dominate the oil and gas waste heat recovery market until 2023.

Based on application, the market is segmented into thermal, electricity power generation, and others. Thermal segment dominated the market in 2016 and is projected to be the fastest growing application segment for oil and gas waste heat recovery market. Thermal waste heat recovery is highly efficient and vitally used for pre-heating and steam generation process.

Based on equipment, the market is segmented into heat exchangers, boilers, heat recovery steam generators, turbines, and others.

Based on the end-user, the market is segmented into commercial, residential, and others. Residential segment held the largest share in 2016, owing to the huge demand for energy.

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