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The waste heat recovery market size is forecast to increase by USD 22.56 billion at a CAGR of 7.1% between 2023 and 2028. The market is experiencing significant growth due to several driving factors. Industrialization in BRICS countries is leading to an increase in demand for power generation and steam production, making waste heat recovery an attractive solution for energy storage efficiency and cost savings. The emergence of direct recovery using advanced thermoelectric materials is a notable trend, offering higher efficiency and reduced emissions compared to traditional systems. However, challenges persist, including concerns related to fouling in recovery systems, which can impact system performance and require frequent maintenance. Digital controls and real-time monitoring electronics and technologies are essential to optimizing system operations and mitigating fouling risks. In petroleum refineries, where large amounts are generated, the adoption of recovery systems is becoming increasingly important as energy costs rise and carbon dioxide emissions become a regulatory concern. The liquid-liquid phase system is a promising technology for recovery in such applications, enabling efficient heat transfer and reducing the environmental impact of industrial processes.
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by End-user
7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Opportunity/Restraints
10 Competitive Landscape
11 Competitive Analysis
12 Appendix
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