Exhaust Heat Recovery System Market was valued at US$ 17.22 Bn. in 2022 and the total revenue is expected to grow at 6.3 % of CAGR through 2023 to 2029, reaching nearly US$ 26.41 Bn.

Market Size

• 2023 Market Value: USD 1.85 Billion
• 2024 Estimate: USD 1.97 Billion
• 2030 Forecast: USD 3.20 Billion
• CAGR (2024–2030): Approximately 8.0%

Overview

In order to produce electricity, steam, or preheat systems, exhaust heat recovery systems (EHRS) collect waste heat from the exhaust of gas and diesel engines.  EHRS facilitate fuel savings, CO₂ emission reductions, and adherence to energy-efficiency targets in power plants, transportation, marine, oil & gas, and heavy-duty vehicles.  Advances in technology have broadened their use in the transportation and industrial sectors.

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Market Growth Drivers & Opportunities

Key Drivers

• Stringent Emission & Efficiency Targets: Regulations and carbon-reduction commitments push adoption across transport and power generation.
• Rising Fuel Prices: Volatile fossil fuel costs increase interest in fuel-saving technologies.
• Industrial Expansion: Growing energy-intensive industries in emerging economies demand efficiency upgrades.
• Engineered System Scalability: Modular EHRS designs allow versatile integration across engine sizes and applications.

Opportunities

• Hybrid Power Integration: Combining EHRS with Rankine cycles and combined heat-and-power (CHP) systems boosts emission reductions.
• Renewables-Heavy Applications: EHRS can stabilize micro-grid and off-grid setups by utilizing engine-waste heat.
• Marine and Heavy-Duty Transport: Carbon regulation in shipping and heavy vehicle fleets creates large retrofit demand.
• Emerging Market Infrastructure: Industrial modernization in Asia-Pacific and Latin America supports system deployment.

Segmentation Analysis

By Type

• Organic Rankine Cycle (ORC) Systems: Top segment—ideal for low-temperature industrial and marine applications.
• Recuperators: Simpler heat exchangers for engine preheating and compact modules.
• Regenerators & Heat Pipes: Niche devices used for high-temperature cycles and specialized processes.

By End User

• Power Generation Plants: Largest market share—emphasis on steam and electricity recovery.
• Transportation & Marine: Heavy-duty vehicles, ships, locomotives increasingly adopt EHRS.
• Oil & Gas: Both upstream and downstream processes utilize recoverable steam and heat.
• Industrial Manufacturing: Food, pulp & paper, cement, chemicals—using EHRS for energy cost reduction.

Major Manufacturers

• Siemens Energy
• Baker Hughes
• Alfa Laval
• ABB
• MAN Energy Solutions
• Caterpillar
• Turboden (Mitsubishi Heavy Industries)
• Bosch Thermotechnology
• Cummins
• ANDRITZ
• Ecube Labs
• Zhejiang Kaishan Compressor Co.

These firms are investing in large-scale EPC projects, modular systems, and aftermarket maintenance to expand global footprint.

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Regional Analysis

• Asia-Pacific: Leading region (~35% market share) due to power plant and heavy-industry expansion in China, India, and Southeast Asia.
• Europe: Strong presence driven by carbon-targeted energy-policies and industrial efficiency mandates.
• North America: Robust demand in marine, industrial, and power sectors.
• Latin America: Emerging opportunities in manufacturing and transportation sectors.
• Middle East & Africa: Incremental growth linked to refinery upgrades and industrial reforms.

COVID‑19 Impact Analysis

While initial pandemic lockdowns delayed installations and disrupted supply chains, the post-pandemic rebound in power and industrial activities renewed focus on reducing operating costs through systems like EHRS. Government stimulus for clean energy also supported EHRS projects.

Commutator Analysis

Exhaust heat recovery systems consist of:

• Primary Heat Exchanger: Captures heat from exhaust or flue gases.
• Working Fluid System: In ORC systems, utilizes refrigerants such as pentane or silicone oil.
• Power Generation Unit: Includes turbines, condensers, generators.
• Control Systems: SCADA or PLC-enabled systems for thermal regulation and diagnostics.
• Auxiliary Components: Pumps, piping, valves, and monitoring systems.

Key Questions Answered

Conclusion

The global EHRS market is on a strong growth path toward USD 3.2 Billion by 2030. Driven by energy efficiency mandates, rising fuel costs, and emission targets across power, transport, and industry, EHRS adoption is becoming essential. Leading firms deploying modular ORC, marine heat recovery, and CHP-integrated systems will guide the market's future trajectory toward sustainable, cost-effective operations.

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