Waste Heat To Power Market Analysis - 2022-2028

Market Insights

The waste heat to power market was estimated at USD 20.9 billion in 2022 and is likely to grow at a CAGR of 9.4% during 2022-2028 to reach USD 39.4 billion in 2028.

Want to know more about the market scope? Register Here

Market Dynamics

Introduction

Waste heat to power is the capturing of heat discarded from an industrial process which could be further used to generate electricity. The waste heat streams are generated from turbines, engines, furnaces, ovens, etc. across the industrial sector.  Also, landfills, mining sites, and compressor stations generate waste heat to power, which is predominantly applied in industrial sectors where the characteristics of the waste heat stream are favorable.

Market Drivers

Major factors such as growth in the robust industrial sector and surge in energy demand are bolstering product adoption across developing economies. Further, stringent government mandates along with an increasing focus to curb emissions have aligned industrial inclination toward the integration of effective energy conservation measures, which is likely to drive the market during the forecast period.

Want to have a closer look at this market report? Click Here

Key Players

The following are the key players in the waste heat to power market:

• AMEC Foster Wheeler Ltd.
• Cochran Ltd.
• Exergy SPA.
• Forbes Marshall Private Limited
• General Electric
• IHI Corporation
• Ormat Technologies
• Rentech Boiler Systems Inc.
• Thermax Limited
• Viessmann Limited

Note: The above list does not necessarily include all the top players in the market.

Are you the leading player in this market? We would love to include your name. Write to us at [email protected]

Segment Analysis

By Product Type

"Steam rankine cycle segment is estimated to grow with the highest CAGR during the forecast period"

• The market is segmented as steam rankine cycle, organic rankine cycle, and kalina cycle. 
• The steam rankine cycle segment is estimated to grow with the highest CAGR during the forecast period. The segment is preferred due to its ease of operation and low maintenance cost.

By Application Type

"Cement industry segment is expected to remain the largest segment over the forecast period"

• The market is segmented into petroleum refining, cement industry, heavy metal production, chemical industry, pulp & paper, food & beverage, glass industry, and others. 
• The cement industry segment is expected to remain the largest segment by application type over the forecast period.
• The growing prominence of ORC-based systems and the huge potential for heat recovery offered by the cement industry are driving waste heat to the power market for cement industry applications.

Regional Analysis

"Europe is estimated to be the largest market for waste heat to power during the forecast period"

• Europe is estimated to be the largest market for waste heat to power during the forecast period.
• Technological innovations, supportive government policies and efforts to reduce GHG emissions are the factors responsible for the growth of the waste to heat market in this region.
• North America and Asia-Pacific are also expected to offer substantial growth opportunities during the forecast period.

Know the high-growth countries in this report. Register Here

Research Methodology

• This strategic assessment report, from Stratview Research, provides a comprehensive analysis that reflects today’s waste heat to power market realities and future market possibilities for the forecast period.
• The report segments and analyzes the market in the most detailed manner to provide a panoramic view of the market.
• The vital data/information provided in the report can play a crucial role for market participants as well as investors in the identification of the low-hanging fruits available in the market as well as to formulate growth strategies to expedite their growth process.
• This report offers high-quality insights and is the outcome of a detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders, and validation and triangulation with Stratview Research’s internal database and statistical tools.
• More than 1,000 authenticated secondary sources, such as company annual reports, fact books, press releases, journals, investor presentations, white papers, patents, and articles, have been leveraged to gather the data.
• We conducted more than 15 detailed primary interviews with market players across the value chain in all four regions and industry experts to obtain both qualitative and quantitative insights.

Report Features

This report provides market intelligence in the most comprehensive way. The report structure has been kept such that it offers maximum business value. It provides critical insights into market dynamics and will enable strategic decision-making for existing market players as well as those willing to enter the market. The following are the key features of the report:

• Market structure: Overview, industry life cycle analysis, supply chain analysis.
• Market environment analysis: Growth drivers and constraints, Porter’s five forces analysis, SWOT analysis.
• Market trend and forecast analysis.
• Market segment trend and forecast.
• Competitive landscape and dynamics: Market share, Service portfolio, New Product Launches, etc.
• COVID-19 impact and its recovery curve
• Attractive market segments and associated growth opportunities.
• Emerging trends.
• Strategic growth opportunities for the existing and new players.
• Key success factors.

Market Segmentation

This report studies the market covering 12 years of trend and forecast. The report provides detailed insights into the market dynamics to enable informed business decision-making and growth strategy formulation based on the opportunities present in the market.

The waste heat to power market is segmented into the following categories:​

 By Product Type 

• Steam Rankine Cycle
• Organic Rankine Cycle
• Kalina Cycle

By Application Type 

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

By Region

• North America (Country Analysis: The USA, Canada, and Mexico)
• Europe (Country Analysis: Germany, France, The UK, Russia, and the Rest of Europe)
• Asia-Pacific (Country Analysis: China, India, Australia, South Korea, and the Rest of Asia-Pacific)
• Rest of the World (Country Analysis: Saudi Arabia, Brazil, and Others)

Click Here, to learn the market segmentation details.

Customization Options

With this detailed report, Stratview Research offers one of the following free customization options to our respectable clients:

Company Profiling

• Detailed profiling of additional market players (up to three players)
• SWOT analysis of key players (up to three players)

Competitive Benchmarking

• Benchmarking of key players on the following parameters: Product portfolio, geographical reach, regional presence, and strategic alliances.

Custom Research:

Stratview research offers custom research services across sectors. In case of any custom research requirement related to market assessment, competitive benchmarking, sourcing and procurement, target screening, and others, please send your inquiry to [email protected].