- In 13 October 2022, Mitsubishi Heavy Industries Marine Machinery & Equipment Co., Ltd. developed a cutting-edge waste heat recovery system, the WHR-ORC system, based on Organic Rankine Cycle technology. This innovation addresses the declining waste heat recovery from main engines as fuel efficiency improves, contributing to energy efficiency in large vessels
- In November 2022, Swiss industrial group ABB Ltd. made a strategic move by acquiring a minority stake in the UK-based climate tech start-up, Tallarna Ltd. This acquisition aimed to enhance ABB's portfolio of user-friendly energy management technologies and bolster its Smart Power division's digital offerings.
Frequently Asked Questions
The major factors driving the growth of the global waste heat recovery system market include stringent energy efficiency regulations, rising industrial investments, growing sustainability initiatives, and advancements in heat recovery technologies.
The major challenges in the global waste heat recovery system market include high initial installation costs and technical complexities associated with integrating waste heat recovery systems into existing industrial setups.
The steam and electricity generation segment is expected to dominate the global waste heat recovery system market, holding a major market share in 2025.
