Italy Waste Heat Recovery System Market Size & Outlook
Italy waste heat recovery system market, 2018-2030 (US$M)
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Italy waste heat recovery system market highlights
- The Italy waste heat recovery system market generated a revenue of USD 1,799.0 million in 2022 and is expected to reach USD 3,682.7 million by 2030.
- The Italy market is expected to grow at a CAGR of 9.4% from 2023 to 2030.
- In terms of segment, chemical was the largest revenue generating end user in 2022.
- 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 2022 | USD 1,799.0 million |
| Market revenue in 2030 | USD 3,682.7 million |
| Growth rate | 9.4% (CAGR from 2022 to 2030) |
| Largest segment | Chemical |
| Fastest growing segment | Petroleum Refinery |
| Historical data | 2018 - 2021 |
| Base year | 2022 |
| Forecast period | 2023 - 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 2022.
- 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 20.54% in 2022. 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
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Italy waste heat recovery system market size, by end user, 2018-2030 (US$M)
Italy Waste Heat Recovery System Market Outlook Share, 2022 & 2030 (US$M)
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