The market size of waste heat recovery (WHR) systems will reach $65.87 billion in five years, a CAGR of 6.9 percent between 2016 and 2021, according to a report from Research and Markets.

Steam and electricity generation is expected to witness the highest growth rate in this time frame. Steam generation from waste heat sources is a major WHRS application. The construction sector is currently driving demand for WHR systems. According to the report, future growth of the industry will likely be driven by investments in chemical and petroleum refining projects.

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