Overview

Waste Heat to Power Market is estimated to value over USD 32 billion by 2029 end and it is expected to register a CAGR of over 12% during the forecast period 2020 to 2029.

The process of trapping heat that has been repudiated by an industrial process and using this trapped heat to generate power is known as waste heat to power (WHP). Industrial processes that require an extensive amount of energy release waste streams and hot exhaust gases. These processes can be controlled with ingrained technologies to generate electricity.

Technology-wise, the market is bifurcated into steam rankine cycle, kalina cycle and organic rankine cycle. The steam rankine cycle segment is projected to expand the market significantly during the forecast period. Moreover, a growing insistence for clean energy from energy-intensive industries coupled with stringent emission norms shall propel the market growth.

Based on the type of application, the market is categorised as petroleum refining, cement industry, heavy metal production, chemical industry, pulp and paper, food and beverages, glass industry and others. A demand for uninterrupted and reliable electricity coupled with a shifting trend towards energy optimization shall bolster the petroleum refining industry segment. Exhaust refinery streams contain high-quality waste heat that can be utilised for generating power. Increasing demand for refined petroleum products along with rising industrial investments towards refining capacity additions shall stimulate the market growth further.

Market Regional Insight:

The global WHP market is regionally bifurcated as North America, Europe, Asia Pacific, Latin America and rest of the world. The European region is the second-largest market and it is expected to showcase similar growth trends during the forecast period. A growing focus towards energy security and sustainable development shall bolster the proliferation of the market.

China’s WHP market will exhibit robust market growth owing to the establishment of new industrial facilities coupled with a revitalizing economic growth in the country. The investments that are being currently provided across chemical industries along with the emphasis of regulatory regime to improve energy efficiency shall augment the market further. Additionally, the introduction of financial incentives keeping the emission reduction in mind shall bolster the industry outlook.

Waste Heat to Power Market Segmentation:

By Region

North America
Europe
Asia Pacific
Latin America
Rest of the World

By Technology

Steam Rankine Cycle
Kalina Cycle
Organic Rankine Cycle

By Application

Petroleum Refining
Cement Industry
Heavy Metal Production
Chemical Industry
Pulp & Paper
Food & Beverages
Glass Industry
Others

Competitive Landscape:

Tier 1 players- established companies in the market with a major market share
Tier 2 players
Emerging players which are growing rapidly
New Entrants

Key Market Players:

IHI Corp.
AMEC Foster Wheeler Cochran
Forbes Marshall Private
Mitsubishi Hitachi Power Systems
Siemens
Rentech Boiler Systems
Thermax

FutureWise Key Takeaways:

Growth prospects
SWOT analysis
Key trends
Key data-points affecting market growth

Objectives of the Study:

To provide with an exhaustive analysis on the waste heat to power market by region, by technology, by application
To cater comprehensive information on factors impacting market growth (drivers, restraints, opportunities, and industry-specific restraints)
To evaluate and forecast micro-markets and the overall market
To predict the market size, in key regions (along with countries)— North America, Asia Pacific, Europe, Latin America and rest of the world
To record evaluate and competitive landscape mapping- product launches, technological advancements, mergers and expansions