The APAC Waste Heat Recovery Systems Market is estimated to be valued at USD 79.9 billion in 2025 and is projected to reach USD 199.9 billion by 2035, registering a compound annual growth rate (CAGR) of 9.6% over the forecast period.
| Metric | Value |
|---|---|
| APAC Waste Heat Recovery Systems Market Estimated Value in (2025 E) | USD 79.9 billion |
| APAC Waste Heat Recovery Systems Market Forecast Value in (2035 F) | USD 199.9 billion |
| Forecast CAGR (2025 to 2035) | 9.6% |
The APAC waste heat recovery systems market is witnessing significant growth as industries increasingly focus on energy efficiency, cost reduction, and sustainability initiatives. Rising energy consumption in the region, driven by industrialization and expanding power generation capacity, is encouraging adoption of systems that can capture and reuse otherwise wasted thermal energy. Government regulations and incentives promoting reduced carbon emissions and enhanced operational efficiency are further supporting the market.
Technological advancements in heat exchangers, integration with steam and power systems, and enhanced system monitoring capabilities are enabling higher energy recovery and reliability. The growing emphasis on sustainable manufacturing practices and operational optimization across key industrial sectors such as petroleum refining, chemicals, and power generation is accelerating adoption.
Additionally, increased investment in renewable and hybrid energy infrastructure is reinforcing the demand for waste heat recovery technologies As energy efficiency and environmental compliance become strategic priorities, the APAC market is positioned for sustained growth, with companies focusing on scaling capacity, optimizing system performance, and delivering cost-effective, high-efficiency solutions.
The apac waste heat recovery systems market is segmented by application, end-use, and geographic regions. By application, apac waste heat recovery systems market is divided into Power & Steam Generation, Pre Heating, and Others. In terms of end-use, apac waste heat recovery systems market is classified into Petroleum Refinery, Power, and Cement. Regionally, the apac waste heat recovery systems industry is classified into North America, Latin America, Western Europe, Eastern Europe, Balkan & Baltic Countries, Russia & Belarus, Central Asia, East Asia, South Asia & Pacific, and the Middle East & Africa.
The power and steam generation segment is projected to hold 51.3% of the APAC waste heat recovery systems market revenue share in 2025, making it the leading application area. Its prominence is being driven by the high availability of low-grade waste heat in thermal power plants and industrial steam systems, which can be efficiently converted into usable energy.
Adoption is further strengthened by increasing demand for energy cost reduction, improved system efficiency, and regulatory compliance related to carbon emissions. Waste heat recovery systems in this segment help reduce fuel consumption, optimize power output, and lower greenhouse gas emissions, which are key drivers for deployment.
Advances in heat exchanger design, system integration, and monitoring technologies have enabled more effective recovery in both existing and new installations Large-scale industrial facilities are increasingly prioritizing these solutions to achieve operational and environmental goals, further cementing the segment’s leadership in the APAC market.
The petroleum refinery end-use segment is expected to hold 58.7% of the APAC waste heat recovery systems market revenue share in 2025, establishing it as the leading industry. Its dominance is driven by the high thermal loads and continuous energy-intensive operations typical of refineries, which create abundant waste heat streams suitable for recovery.
Adoption is being encouraged by refinery operators seeking to reduce fuel costs, enhance process efficiency, and comply with regional environmental regulations. Waste heat recovery systems in petroleum refineries enable utilization of byproduct heat for power generation, steam production, and process heating, significantly improving overall energy efficiency.
Technological innovations, including advanced heat exchangers, optimized system integration, and real-time monitoring, are facilitating higher energy recovery rates and reliability As the demand for refined products continues to grow and energy efficiency becomes a critical operational metric, petroleum refineries are expected to remain the largest end-use segment driving APAC market growth over the coming years.
Waste heat recovery is the process of capturing and reusing heat from streams of high energy content generated during various refining processes in industrial sectors. These include sectors such as chemicals, petroleum, automotive etc. Industrialization continues to grow rapidly, and as large amounts of heat is being generated, its preservation and reuse has become a matter of great concern for various industries.
Various methods are being employed on a large scale in the industrial sector to reduce energy consumption, operational costs, green-house gas and carbon emissions.
Use of waste heat recovery systems could be an ideal move for various industrial processes to enhance their economic feasibility. As the industrial sector continues efforts to improve energy efficiency, waste heat recovery systems offer an attractive opportunity to ensure an low emission environment.
On the basis of product type, the waste heat recovery system market is segmented as generators, boilers, exhaust stacks, ovens, compressors, heat pumps, regenerators, recuperators and others.
On the basis of application the global market can be segmented as pre-heating, steam generation, electricity generation and others. Globally, steam generation accounts for almost half of the market share compared to other sources.
According to the United States Department Of Energy (US DOE) and the International Energy Agency (IEA), over three-fifths of the energy used by power plants gets wasted in the form of heat and around 20% to 50% of industrial energy input is lost as waste heat. Waste heat recovery equipment find usage in a number of industrial applications such as heavy metal production, cement production, petroleum refining, chemical refining and natural gas compression.
The waste heat recovery system market is expected to grow two-fold between2025 and2025. Currently, Europe is the largest market in the global waste heat recovery systems, accounting for around 35-40% share of the global market. North America is the second-largest segment, followed by APAC region.
The APAC region is expected to register a significant growth from 2025 to 2025, majorly due to government regulations and foreign direct investment in the region. The waste heat recovery systems market is expected to grow at a higher rate for emerging economies such as India and China as compared to developed economical regions, such as North America and Europe.
Large-scale economic development, growing population, presence of strict emission regulations and rapid industrialization are the major growth drivers for the APAC waste heat recovery systems market. Apart from these, requirement for fuel efficient systems and growing environment safety awareness are other long term growth drivers, which are contributing towards growth of waste heat recovery market in the APAC region.
China and India are playing important roles in the installations of waste heat recovery systems. The use of waste heat recovery systems in the cement industry is estimated to grow significantly, due to a high demand of cement from the APAC region.
Major players in the waste heat recovery system market include General Electric, Siemens AG, Mitsubishi Heavy Industries Ltd. and Alstom. These companies adopt strategies such as entering into joint ventures, alliances and partnerships in order to expand their business and product lines. Apart from these key players, several other small and local companies are present in the APAC region, and they account for a comparatively low market share.
The potential for growth of the waste heat recovery systems market is very high in emerging economies in the APAC region. The markets in India and China are expected to register significant growth due to increasing industrial and infrastructural development initiatives in these countries.
Overall, the potential for growth of waste heat recovery systems market in the emerging and developing economies is quite promising in the near future.
This research report presents a comprehensive assessment of the market and contains thoughtful insights, facts, historical data and statistically-supported and industry-validated market data. It also contains projections using a suitable set of assumptions and methodologies. The report provides analysis and information according to categories such as market segments, geographies, types and applications.
The report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain. The report provides in-depth analysis of parent market trends, macro-economic indicators and governing factors, along with market attractiveness within the segments. The report also maps the qualitative impact of various market factors on market segments and geographies.
| Country | CAGR |
|---|---|
| China | 13.0% |
| India | 12.0% |
| Germany | 11.0% |
| France | 10.1% |
| UK | 9.1% |
| USA | 8.2% |
| Brazil | 7.2% |
The APAC Waste Heat Recovery Systems Market is expected to register a CAGR of 9.6% during the forecast period, exhibiting varied country level momentum. China leads with the highest CAGR of 13.0%, followed by India at 12.0%. Developed markets such as Germany, France, and the UK continue to expand steadily, while the USA is likely to grow at consistent rates. Brazil posts the lowest CAGR at 7.2%, yet still underscores a broadly positive trajectory for the global APAC Waste Heat Recovery Systems Market. In 2024, Germany held a dominant revenue in the Western Europe market and is expected to grow with a CAGR of 11.0%. The USA APAC Waste Heat Recovery Systems Market is estimated to be valued at USD 28.4 billion in 2025 and is anticipated to reach a valuation of USD 62.3 billion by 2035. Sales are projected to rise at a CAGR of 8.2% over the forecast period between 2025 and 2035. While Japan and South Korea markets are estimated to be valued at USD 4.3 billion and USD 2.5 billion respectively in 2025.
| Item | Value |
|---|---|
| Quantitative Units | USD 79.9 Billion |
| Application | Power & Steam Generation, Pre Heating, and Others |
| End-Use | Petroleum Refinery, Power, and Cement |
| Regions Covered | North America, Europe, Asia-Pacific, Latin America, Middle East & Africa |
| Country Covered | United States, Canada, Germany, France, United Kingdom, China, Japan, India, Brazil, South Africa |
| Key Companies Profiled | Siemens Energy AG Ordinary Shares, Mitsubishi Corp, GE Aerospace, ABB Ltd, Terna SpA, IHI Corp, and Molson Coors Beverage Co Class A |
The global apac waste heat recovery systems market is estimated to be valued at USD 79.9 billion in 2025.
The market size for the apac waste heat recovery systems market is projected to reach USD 199.9 billion by 2035.
The apac waste heat recovery systems market is expected to grow at a 9.6% CAGR between 2025 and 2035.
The key product types in apac waste heat recovery systems market are power & steam generation, pre heating and others.
In terms of end-use, petroleum refinery segment to command 58.7% share in the apac waste heat recovery systems market in 2025.
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APAC Waste Heat Recovery Systems Market
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