Why is Commercial Electric Vehicle Market Making Huge Advancements in China?

 The decreasing costs and improving operational efficiency of Lithium-ion batteries are some of the biggest factors causing the increasing adoption of commercial electric vehicles across the world. As per the industry experts, the average cost of lithium-ion battery packs for bulk orders decreased from approximately $642/kWh in 2012 to almost $209/kWh in 2017. As batteries account for nearly 40% of the total manufacturing cost of a commercial electric vehicle, their declining prices will significantly boost the manufacturing and sales of the commercial electric vehicles.

The other major factor responsible for the ballooning sales of commercial electric vehicles is the lower operational costs of these vehicles as compared to the conventionally used fossil fuels-powered vehicles. In addition to this, their numerous environmental benefits are increasing their popularity in several countries, especially the developing nations which are dealing with soaring pollution levels and environmental hazards. According to the Indian Infrastructure Publishing, an electric bus saves $365,000 of diesel fuel during its entire life cycle and $225,000 of compressed natural gas (CNG).

Driven by the above-mentioned factors, the revenue generated from the worldwide sales of commercial electric vehicles is expected to rise from $144.5 billion in 2017 to $362.7 billion by 2025. The global commercial electric vehicle market is predicted to advance at a CAGR of 13.3% during the forecast period (2018–2025). There are two types of commercial electric vehicles available in the market — electric buses and electric trucks. Of these, the electric trucks recorded higher sales in 2017. This is owing to the banning diesel trucks in many countries and the burgeoning demand for the transportation of goods around the world.

On the basis of batteries, the commercial electric vehicles are classified into lithium–nickel–manganese–cobalt oxide (NMC)-battery-powered vehicles and the vehicles running on lithium–iron phosphate (LFP) batteries. Between the two types of batteries, LFP batteries are predicted to register higher sales in the market during the forecast period. This is mainly ascribed to the fact that the LFP batters are safer than the others and are therefore preferred more by both manufacturers and consumers than the NMC batteries. 

Geographically, the Asia-Pacific (APAC) region is expected to observe the highest and fastest growth in the adoption of commercial electric vehicles during the forecast period. In this region, China is currently witnessing the highest sales of commercial electric vehicles, owing to the presence of favorable government policies for commercial electric vehicles in the country. The commercial electric vehicle market is also observing huge progress in other APAC countries such as India, on account of the existence of several government policies and measures promoting the deployment of electric buses in private and government fleets, in the country.

Hence, it can be said with full confidence that the demand for commercial electric vehicles will rise considerably throughout the world, in the coming years, because of the declining prices of the Lithium-ion batteries, increasing pollution levels, lower operating costs of these vehicles than the fossil fuels-powered vehicles, and the presence of favorable government policies regarding the deployment of commercial vehicles in several countries.

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How Is Epoxy Coating Usage Fueling Polyetheramine Consumption?

 Polyetheramines are colorless curing agents, which consist of polyether and amine moieties, and are used to increase the flexibility, toughness, hydrophobicity, or hydrophilicity of a variety of products. The application areas of this substance include resins, polyurea, epoxy coatings, composites, elastomers, inks, sealants, polyamides, and adhesives. Epoxy coatings are, in turn, used in fiberglass, carbon fiber, and several other composite materials. Polyetheramines are also utilized as fuel additives for cleaning carburetors, valves, and injectors.

Among these, epoxy coatings are the most widely used products containing polyetheramines. Epoxy coatings and durable coatings can be used for durable paints, fiberglass, carbon fibers, and strong adhesives and coatings for metals and floors. These coatings are also used to seal the surface of fresh concrete and prevent the rapid loss of moisture. Other uses of polyetheramine include demulsification of oilfields, acid neutralization, and cement additives. Thus, the key industries that consume polyetheramine-based products are paints & coatings, automotive, and construction. 

The widening application base of these products and growing end-use industries will accelerate the polyetheramine market progress at a CAGR of 10.5% between 2016 and 2022. Ad per P&S Intelligence, the market revenue stood at $660.4 million in 2015. The spurring demand for epoxy coatings and composite materials will boost the requirement for polyetheramine, globally. Moreover, the expansion of the manufacturing sector, especially in developing countries, will amplify the consumption of this substance.

Globally, the Asia-Pacific (APAC) region consumed the highest quantity of polyetheramines in the past. This was due to the spurring demand for polyuria, polyamides, and epoxy curing from the paints and coatings industry. Moreover, the rising need for polyetheramine in the agriculture, adhesives & sealants, construction, and automotive industries of India, Thailand, Malaysia, and Indonesia will boost its production in the coming years. In recent years, China has emerged as the largest consumer of polyetheramine in the region.

In the coming years, the APAC polyetheramine market will also witness significant growth, wherein China would be the largest contributor, followed by India. The notable growth of end-use industries, such as resins, epoxy coatings, and adhesives & sealants in the region is fueling the consumption of polyetheramines. Additionally, the escalating demand for fuel additives, paints and coatings, and composites will increase the requirement for this material in the foreseeable future.

The demand for fuel additives in the region is driven by the rising sale of automobiles. With people becoming richer, they are spending more than ever on luxury goods, such as automobiles. Moreover, the rising awareness on the role of fuel additives in increasing the fuel economy of vehicles is propelling the consumption of such materials. Being the most-polluted region in the world, APAC has a strong need to cut down its greenhouse gas emissions, which is another area where fuel additives are helpful.

Thus, the growing requirement for epoxy coatings in various end-use industries and rising need for fuel additives will boost the production of polyetheramines in the foreseeable future.

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What are Key Factors that would Contribute to Surge of Self-Monitoring Blood Glucose Devices Market in Asia-Pacific

 Owing to the soaring geriatric population and the rising prevalence of obesity and diabetes mellitus in several countries, the demand for self-monitoring blood glucose (SMBG) devices is expected to rise in the coming years. As per a report by the United Nations Department of Economic and Social Affairs (UNDESA) on the worldwide ageing population, the population of people aged 60 years and above is increasing at a huge rate. The share of the geriatric population across the globe recorded a huge increase, to 11.7% in 2013 from 9.2% in 1990, and it is predicted to increase to 21.1% by the end of 2050.

The increasing awareness about diabetes and its numerous complications, such as diabetic foot ulcer and delayed wound healing, is another major factor propelling the adoption of SMBG devices across the world. For instance, the International Diabetes Federation (IDF) conducted an event in Hyderabad, India in October, 2018, called ‘IDF Diabetes Complications and Foot Congress’ for increasing the awareness regarding diabetes and its complications and management methods amongst the people of the city.

Self-monitoring blood glucose devices are extensively used for monitoring type-1 and type-2 diabetes. Of these, the utilization of these devices for the monitoring of type-2 diabetes is predicted to register faster growth in the years to come. This is mainly ascribed to the increasing incidence of type-2 diabetes amongst adults, especially on account of the fact that out of all the diabetic cases in adults, around 90% to 95% are of type-2 diabetes. People who have it either make too less insulin or are unable to utilize the hormone, leading to glucose imbalance.

Asia-Pacific (APAC) is expected to record the fastest growth in the adoption of SMBG devices during the forecast period. This is primarily attributed to the rising incidence of type-2 diabetes, soaring geriatric population, and increasing government investments on healthcare, in the region. As per the International Diabetes Federation (IDF), around 82 million adults in Southeast Asia in the age group of 20–79 years were living diabetes in 2017. Moreover, the improving healthcare infrastructure is expected to further fuel the progress of the self-monitoring blood glucose devices market in the region.

Thus, it can be certainly said that the need for SMBG devices will increase around the world in the coming years, mainly on account of the escalating incidence of diabetes, surging geriatric population, booming healthcare sector, and rising awareness about the disorder amongst the people.

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How Is Aging Propelling Durable Medical Equipment Demand in Europe?

 The European Heart Network (EHN) estimates that cardiovascular diseases (CVDs) are responsible for 3.9 million deaths in Europe each year. Furthermore, the Cancer Atlas reveals that nearly 3.9 million new cancer cases and around 1.9 million cancer deaths were recorded in Europe in 2018. Additionally, the World Health Organization (WHO) states that approximately 60 million people in Europe are living with diabetes. The growing prevalence of such chronic diseases will create a huge requirement for durable medical equipment (DME) in the region.

Currently, a range of durable infusion pumps, oxygen equipment, vital sign monitors, blood glucose monitors, wheelchairs, walking aids, scooters, toilet rails/frames, stretchers, medical beds, and patient lifts and lift chairs are manufactured by Invacare Corporation, Medline Industries Inc., General Electric Company, Hill-Rom Holdings Inc., Johnson & Johnson, Arjo AB, Stryker Corporation, Abbott Laboratories, DeVilbiss Healthcare LLC, Medtronic plc, Koninklijke Philips N.V., Handicare Group AB, Becton, Dickinson and Company, Siemens AG, and Sunrise Medical.

In recent years, they have introduced new products to cater to a greater number of end users. For instance, in April 2018, Permobil AB introduced Precision Lock Back Angle Adjustment, which allows for an exact fit, with effortless adjustment, in a wheelchair. This allows for modifications while the patient is seated on the chair, thereby reducing unnecessary transfers. Likewise, in July 2018, the company launched TiLite Pilot, a manual mobility solution, for kids, which can be customized as per the growth of the children.

These pieces of equipment are bought by hospitals, homecare settings, and ambulatory surgical centers (ASCs). In contemporary times, hospitals are the largest consumers of DME in Europe due to the mounting government reimbursements for those admitted to inpatient facilities. For example, the EU allows the reimbursement of medical expenses for patients admitted in public and private hospitals. This option is available only for patients who procure treatment in their home countries.

Hence, according to P&S Intelligence, Germany dominated the European durable medical equipment market in the preceding years due to the presence of a large number of hospitals in the country and the high patient footfall here. The Federal Statistical Office of Germany states that there were 1,914 hospitals in the country in 2019. Whereas, the U.K. is expected to adopt DME at the highest rate in the upcoming years owing to the surging life expectancy of people and increasing availability of technologically advanced products in the country.

Thus, the rising cases of chronic diseases and burgeoning aging population will fuel the adoption of DME in Europe. 

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How Much Revenue is Asia-Pacific Electric Three-Wheeler Market Expected to Generate

 One of the biggest factors responsible for the growing adoption of electric three-wheelers in the Asia-Pacific (APAC) region is the rising number of government policies and incentives in the form of tax rebates and subsidies, encouraging the adoption of electric vehicles in several countries in the region. For instance, according to the Faster Adoption and Manufacturing of (Hybrid &) and Electric Vehicles (FAME) in India, the government is offering subsidies in the range of $370–$900 on the purchase of electric vehicles in the country.

 

The other major factor fuelling the rise in the demand for electric three-wheelers in the APAC region is the low ownership costs of the electric vehicles. The operational expenses associated with an electric three-wheeler are almost 6 times lesser than that of the vehicles running on diesel/gasoline, on account of the lower costs of the stored electric charge than the gasoline. Moreover, the maintenance cost of an electric three-wheeler is also lesser than that of the diesel/gasoline powered vehicles and this further pushing their demand in the region.

Electric three-wheelers are either powered by sealed lead–acid (SLA) batteries or lithium-ion (Li-ion) batteries. Of these two types of batteries, the SLA batteries registered higher sales in 2017, as they are cheaper. However, the li-ion batteries, owing to their rapidly reducing prices, are expected to record faster growth in usage in the APAC electric three-wheeler market in the near future. Additionally, the Li-ion batteries offer numerous advantages over the SLA batteries such as lighter weight, higher energy density, much lower environmental damage, and greater life span and thus, these batteries are observing soaring demand across the world.

 

The motors integrated in electric three-wheelers operating in APAC come in three power ratings: less than 1,000 watts, between 1,000 and 1,500 watts, and greater than 1,500 watts. Amongst these, electric three-wheelers equipped with motors having power in the range of 1,000—1,500 watts registered the highest sales in 2017. This is primarily ascribed to the operational cost benefits of the electric three-wheelers equipped with these motors. However, due to the rising need for high-speed electric three-wheelers, the demand for higher power motors will rise rapidly in future.

 

Therefore, it can be said with full surety that due to the rising need for eco-friendly modes of transportation and the presence of numerous government incentives supporting the adoption of electric vehicles in several APAC countries, the demand for electric three-wheelers will boom in the APAC region in the coming years.

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What is Trendy in Shower Glass Doors

 Attaining your dream bathroom and producing an oasis in your own home isn’t as hard as it seems to you. Just by adding glass shower doors, it is possible for you to promptly advance your bathroom.  For taking it to the next level, consider creating these fashionable shower doors as the focal point in your design.

·        If you desire to advance to a contemporary look, frameless shower doors are really the way forward. With no bulk, it’s an uncluttered design that people love. These are certainly prevalent for glass shower door inclusions, but they also work with tub or partial enclosures. Not only is this design fashionable, but it’s also adaptable and enduring. A frameless shower door can uplift any shower design.

 

·        Frosted shower doors are coming back in trend. By adding an exclusive design, you can let your nature shine on glass shower door. And all the while, you’re still ordering privacy. Frosted shower doors are handy but can also be fashionable.

 

·        A partial enclosure is effectual and appears sleek. These are correspondingly very purposeful. Your go-in-the-shower won’t have any shelf to go beyond. This gives a feeling of having a spa right in your home. With no moving parts, you won’t have to be concerned about splashing around of water.

 

·        These days, saving space is the desire of everyone. Corner showers are just a perfect solution for that. Or, if the shower is not located in the corner already, you can use bifold doors or sliding glass doors. The way in which the glass shower door is equally important to the kind of shower you choose.

 

·        French shower doors are not just a great enunciation piece for your dining room or living room. You can always consider French glass doors as the shower door. These are indeed hot and trending in the contemporary scenario but are similarly everlasting and classy at the same time.

 

·        Having a towel, and bar handle combo isn’t an inclination, just something that should be on each glass shower door. You don’t desire to have water splashing everywhere when you go to reach for your towel that’s just out of reach. In its place, make sure you have a handle and towel bar combo installed.

 

·        If you choose to go with an enclosed or semi-framed shower, it’s becoming prevalent to make use of gold and brass inflections on the pivots. People love mixing of metals in their bathrooms, also. Some individuals have copper fittings, but gilded frames. Those warm accents are making a retaliation and we love it

 

Mexico is a country that has a developing tourism industry and construction industry. These two factors have a lot to do with the growing demand for glass shower doors in Mexico. The value of the market will reach about $483 million in 2030.

 

 There are a lot of trends like the ones mentioned above pertaining to the glass shower doors in not only Mexico but the whole world.

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Mexico Set to Witness Rapid Surge in Demand for Enterprise Asset Management Solutions in Future

 The increasing usage of enterprise asset management for the effective utilization of assets and the growing requirement for reducing the operating costs are the main factors fueling the popularity of enterprise asset management solutions in North America. Enterprise asset management solutions for the optimum asset utilization include maintenance agreement management, asset inventory tracking, tracking of invoice charges and meter readings, analysis of funding and invoice information, and the examination of trends in excess charges and invoice payments.

With the help of such solutions, the enterprise asset management system creates various dedicated reports that allow the decision-makers to compare the predicted billing and invoice amounts and view each group of assets or asset to identify unusual activities for reducing the incidence of frauds, abuse, and waste. Besides these, enterprise asset management solutions also allow businesses to reduce the operational costs by increasing the return on investment (ROI) from equipment and plant.

Assets maintenance, repair, and operations (MRO) is predicted to demonstrate the highest growth in the future. When industry is taken into consideration, the North American enterprise asset management market is categorized into oil and gas, government, healthcare, manufacturing, transportation and logistics, and energy and utilities. Amongst these, the healthcare category is predicted to exhibit the fastest growth in the market in the upcoming years, on account of the rising requirement for asset tracking and medical equipment management in healthcare facilities.

The North American enterprise asset management market is predicted to register the highest CAGR in Mexico in the forthcoming years. This would be because of the rapid expansion of various asset-intensive industries such as manufacturing, oil and gas, and transportation and logistics in the country. In 2017, the oil industry in Mexico accounted for over 30% of the total government revenues. EAM solutions allow the efficient management and planning during production and drilling.

Therefore, it can be inferred that the popularity of enterprise asset management solutions would explode in North America in the forthcoming years, mainly because of the rising requirement for effective asset utilization and management among businesses operating in the region.

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FIFA World Cup 2022 Set to Propel Demand for HVAC Maintenance Services in Qatar

 The expansion of the construction industry is one of the biggest factors responsible for the soaring demand for heating, ventilation, and air conditioning (HVAC) services in Qatar. Moreover, with the sharp surge in infrastructural development and construction activities, the HVAC industry is exhibiting rapid expansion in the country. The industry is predicted to grow at nearly 7.7% rate between 2018 and 2023. Furthermore, the construction industry registered a year-on-year growth of 20% from 2017 to 2018.

The industry was being driven by Qatari government’s National Vision 2030, under which, the government plans to develop non-oil sectors in the country in order to reduce the country’s reliance on the oil and gas industry and to develop infrastructure for hosting the FIFA World Cup 2022. Some of the major construction projects launched recently in the country are Sheraton Park (2016), Hamad International Airport (2014), and Sidra Medical Research Centre (2018).

The country also hosted the World Athletics Championships in 2019, which created lucrative growth opportunities for the HVAC maintenance service providing organizations in the country. This event attracted a large number of tourists and was responsible for the construction of several new hotels and resorts. Moreover, it fueled the expansion of the tourism and hospitality sector and the food and beverage industry in the country. This pushed up the demand for HVAC systems and associated maintenance services in the country.

Due to the aforementioned factors, the Qatar heating, ventilation, and air conditioning (HVAC) maintenance service market is demonstrating rapid expansion. Out of the heating, ventilation, and cooling systems, the sales of the cooling systems were found to be the highest in the country in the past years. Variable refrigerant flow (VRF), split units, room ACs, ducted split/packaged units, and chillers are the most widely used cooling systems in the country. 

Amongst these, demand for the maintenance of ducted split/packaged units was the highest during the last few years. Depending on end-user type, the Qatar HVAC maintenance service market is divided into residential, industrial, and commercial (commercial buildings/offices, supermarkets/hypermarkets, and healthcare, transportation, government, and hospitality organizations) categories. Amongst these, the commercial category recorded the highest growth in the market in the years gone by, due to the huge requirement for HVAC maintenance services in commercial buildings and offices in the country. 

On the other hand, in the future years, the hospitality sector will exhibit rapid expansion in the Qatar HVAC maintenance service market, as per the estimates of the market research company, P&S Intelligence. As the country prepares for the FIFA World Cup 2022 and Vision 2030, the hospitality industry will exhibit unprecedented growth. According to reports, the country will witness the construction of 62 hotels, including 7-star, 5-star, and 4-star hotels, and 13,733 guestrooms in the coming years.

Hence, it can be said with full surety that the demand for HVAC maintenance services will shoot-up in Qatar in the coming years, primarily because of the soaring usage of HVAC systems and the boom in the country’s construction and hospitality industries. 

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With Cell Fusion and DNA-Recombinant Technologies, Biopharmaceuticals Ensuring You Get Personalized Medications Having Minimal Side-Effects

 The rising prevalence of neurological disorders is rapidly becoming a major health problem across the world. According to the Global Burden of Diseases, Injuries, and Risk Factors Study (GBD) 2016, neurological diseases were the main cause of disability-adjusted life years (DALYs) in people and the second-major cause of deaths in 2016. The study also found that the total number of DALYs and deaths caused due to neurological disorders grew by as much as 15% from 1990 to 2016.

This growing incidence of neurological disorders is massively pushing up the requirement for biopharmaceutical products. This is because these products have been found to be very useful for the management and treatment of several neurodegenerative disorders. Moreover, unlike the conventional medications, these drugs can be directly administered into the brain of a patient. Apart from neurological disorders, the rising prevalence of cancer and infectious diseases is also boosting the demand for biopharmaceuticals across the globe. 

With the growing popularity of these drugs, medical researchers and scientists are conducting extensive research and development (R&D) activities in these products which will help them develop more technologically advanced biopharmaceuticals in the coming years. Furthermore, these rapid technological innovations and advancements are significantly increasing the survival rate of cancer and hepatitis patients all over the world. Many companies are making huge investments in the development and production of biopharmaceuticals. 

The main purpose behind these massive investments is to formulate medications and treatment procedures for many fatal diseases, especially the ones whose prevalence is rising at an alarming rate throughout the world. In addition to this, these investments are also being made for facilitating the mass production and commercialization of effective medications that have the ability to treat various life-threatening diseases and improve the survival rate of the patients suffering from them.

Because of the aforementioned reasons, the global biopharmaceuticals market will exhibit rapid expansion in the future, according to the forecast of the market research firm, P&S Intelligence. Due to the growing adoption of sedentary and unhealthy lifestyles and the rising consumption of fast foods, the incidence of chronic diseases is rapidly shooting-up, which is, in turn, boosting the worldwide sales of biopharmaceuticals. Industry experts predict that the oncology applications will generate significantly high demand for biopharmaceuticals in the future years.

Recombinant proteins, recombinant human insulin, colony-stimulating factor, growth hormones, interferon, erythropoietin, purified proteins, vaccines, and monoclonal antibodies are the main types of biopharmaceutical products available in the market. Out of these, the sales of the monoclonal antibodies are currently very high around the world. In the near future, the sales of the recombinant human insulin will soar rapidly, on account of the growing incidence of diabetes all over the world.

Due to the surging geriatric population and the high occurrence rate of chronic ailments, the North American biopharmaceuticals market is currently very lucrative. Furthermore, the extensive R&D activities being conducted in the regional countries, on account of the huge investments being made by many pharmaceutical companies and organizations, and the rapid technological advancements in biopharmaceuticals are causing the development of medications having high efficiency. This is subsequently fueling the sales of biopharmaceutical products in this region.

Hence, due to the growing prevalence of infectious diseases, chronic ailments, and neurological disorders, the surging geriatric population, and soaring investments being made in drug discovery and development, the demand for biopharmaceutical drugs will swell tremendously in the forthcoming years. 

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Demand for Blockchain in Healthcare Predicted to be Highest in Europe

 These days, enterprises are increasingly witnessing data breaches and hence are looking for solutions that can aid in securing data. Since a lot of companies deal with sensitive information regarding their customers, governments across the globe are also implementing various strict regulations for safeguarding this information. For example, a new European Union (EU) data protection rule came into effect in May 2018, namely the General Data Protection Regulation, which aims at protecting the citizens of EU from data and privacy breaches. Because of such regulations, companies in several industries, including the healthcare industry, are investing in data security solutions.

The major end users of the blockchain technology in the healthcare industry are healthcare payers, pharmaceutical companies, and healthcare providers. Out of all these, pharmaceutical companies are projected to make the most use of the blockchain technology in the years to come. These companies are increasingly adoption and exploring the blockchain technology, primarily in the areas of drug discovery and clinical trials and supply chain management. For example, Pfizer Inc. is a member of the MediLedger Project, which is a decentralized and open network for the pharmaceutical supply chain.

Geographically, North America made the most use of the blockchain technology in the past, however, the European region is projected to emerge as the largest blockchain in healthcare market in the near future. This is particularly ascribed to the fact that a large number of public and private sector players are widely implementing various blockchain initiatives in the region. Other than this, the use of the blockchain technology is also expected to increase considerably in the Asia-Pacific region in the coming years, owing to the unmet needs in areas of drug supply chain management and clinical data exchange and interoperability.

In conclusion, the demand for the blockchain technology in the healthcare industry is g

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What are Factors Responsible for Boom of Global Waste Heat Recovery Market?

 The ability of waste heat recovery to reduce the cost of operations in numerous industries is one of the major factors responsible for the surge in the demand for waste heat recovery across the globe. Since the last few years, there has been a huge increase in the cost of input energy materials such as oil and gas, electricity, and coal and this has consequently increased the operational cost of an industry. Waste heat recovery promotes efficient utilization of the available energy and provides climate protection solutions, thereby leading to sustainable development.

The other major factors boosting the adoption of waste heat recovery techniques in industrial processes are the rising government initiatives aimed at encouraging the incorporation of waste heat recovery for promoting the efficient use of energy and reducing the pollution levels, technological advancements in waste heat recovery processes, and the enactment of strict laws and regulations by the governments of several countries for reducing the greenhouse gas emissions. Driven by these factors, the global waste heat recovery market is expected to register huge growth in the coming years.

Waste heat is widely generated from several industrial processes, such as fume incinerator, cooling water from furnaces, combustion engines, exhausts from glass melting furnaces, convective, radiation, and conductive heat losses, combustion and cement kiln, and processes off-gases. Waste heat recovery systems play a major role in reducing the waste heat loss. In waste heat recovery processes, the waste heat is captured and then reused for various purposes in a plethora of applications such as load preheating, combustion air preheating, water preheating, space heating, steam generation, and power generation. 

There are various kinds of heat recovery systems commonly used, namely heat recovery steam generators, turbines, and mechanical warming boilers. Waste heat recovery processes and systems are used in a wide array of industries such as petroleum refining, casting, pulp, and paper, cement, chemical, and metal production, and natural gas compression. The petroleum refining industries recorded the highest utilization of waste heat recovery methods in 2015 and this trend is expected to continue over the next few years.

Globally, Europe registered the highest adoption of waste heat recovery systems and processes in the past, owing to the presence of a large number of environmental regulations aimed at curbing harmful industrial emissions and the earlier introduction of waste heat recovery technology in this region. Asia-Pacific (APAC) is expected to record rapid growth in the adoption of this technology in future, primarily on account of the flourishing cement industry in the region. The presence of strict environmental regulations and the huge energy demand are the other factors propelling the growth of waste heat recovery market in the region.

Therefore, it can be concluded that due to the burgeoning need for effective energy utilization and rising awareness regarding environmental pollution caused by industrial emissions, the demand for waste heat recovery technology will surge in future.

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