South Korea Waste Heat Recovery Unit Market was valued at USD 1.6 Billion in 2022 and is projected to reach USD 2.5 Billion by 2030, growing at a CAGR of 6.2% from 2024 to 2030.
The South Korea Waste Heat Recovery Unit (WHRU) market has gained significant traction in recent years due to increasing industrial demand for energy efficiency and sustainability. WHRUs are systems designed to capture excess heat produced by industrial processes and convert it into useful energy. With South Korea’s growing focus on environmental sustainability and energy conservation, these systems are now more crucial than ever across a variety of sectors, from manufacturing to power generation.
The need for Waste Heat Recovery Units is driven primarily by the continuous push from industries to reduce carbon footprints and lower energy costs. As South Korea is one of the leading industrialized nations globally, energy consumption remains high, especially in sectors such as steel production, petrochemicals, and cement manufacturing. In these industries, waste heat is abundant, making it a valuable resource that can be harnessed to drive power generation or pre-heat materials, leading to significant energy savings.
One of the most prominent drivers of the WHRU market is the rising concern for environmental regulations. South Korea has committed to reducing greenhouse gas emissions as part of its national climate goals. Therefore, the adoption of Waste Heat Recovery Units has become a priority for companies looking to comply with stringent environmental policies while also reducing their operational costs. The demand for these systems is expected to grow further as regulations become more demanding.
Industries that most actively require Waste Heat Recovery Units include those with energy-intensive processes. The chemical industry, metal manufacturing, and energy generation sectors are key examples where excess heat recovery systems can significantly enhance productivity and sustainability. Moreover, sectors focused on renewable energy also see the potential of waste heat recovery as a means to improve system efficiency.
The South Korean government has also supported the development of this market by offering incentives and funding for clean energy technologies. The push towards green technologies has created a favorable environment for the growth of the Waste Heat Recovery Unit market, encouraging more businesses to invest in such systems.
As industrial processes continue to evolve and energy demands rise, Waste Heat Recovery Units will play an increasingly important role in South Korea’s economic and environmental strategies. The combination of cost reduction, regulatory compliance, and environmental responsibility makes WHRUs a key component of future industrial growth in the region.
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ABB
MHI
Siemens
GE
Kawasaki
Ormat
Foster Wheeler
Bosch
Echogen Power Systems
EST (Wasabi)
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By the year 2030, the scale for growth in the market research industry is reported to be above 120 billion which further indicates its projected compound annual growth rate (CAGR), of more than 5.8% from 2023 to 2030. There have also been disruptions in the industry due to advancements in machine learning, artificial intelligence and data analytics There is predictive analysis and real time information about consumers which such technologies provide to the companies enabling them to make better and precise decisions. The Asia-Pacific region is expected to be a key driver of growth, accounting for more than 35% of total revenue growth. In addition, new innovative techniques such as mobile surveys, social listening, and online panels, which emphasize speed, precision, and customization, are also transforming this particular sector.
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Growing demand for below applications around the world has had a direct impact on the growth of the South Korea Waste Heat Recovery Unit Market
Industrial Applications
Commercial Applications
Residential Applications
Organic Rankine Cycle (ORC)
Steam Rankine Cycle (SRC)
Kalina Cycle
Power Generation
Chemical Industry
Petrochemical Industry
Steel Industry
Cement Industry
Exhaust Gases
Flue Gases
Wastewater
Industrial Process Heat
Heat Exchanger
Expander
Compressor
Generator
Piping and Valves
Asia-Pacific (China, Japan, Korea, India, Australia, Indonesia, Thailand, Philippines, Malaysia and Vietnam)
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1. Introduction of the South Korea Waste Heat Recovery Unit Market
Overview of the Market
Scope of Report
Assumptions
2. Executive Summary
3. Research Methodology of Verified Market Reports
Data Mining
Validation
Primary Interviews
List of Data Sources
4. South Korea Waste Heat Recovery Unit Market Outlook
Overview
Market Dynamics
Drivers
Restraints
Opportunities
Porters Five Force Model
Value Chain Analysis
5. South Korea Waste Heat Recovery Unit Market, By Type
6. South Korea Waste Heat Recovery Unit Market, By Application
7. South Korea Waste Heat Recovery Unit Market, By Geography
Asia-Pacific
China
Japan
Korea
India
Australia
Indonesia
Thailand
Philippines
Malaysia and Vietnam
8. South Korea Waste Heat Recovery Unit Market Competitive Landscape
Overview
Company Market Ranking
Key Development Strategies
9. Company Profiles
10. Appendix
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