July 23,2021/IndustryNewsGlobal/ The unexpected shifts in the global markets because of the sudden outbreak of the COVID-19 virus have brought many major and minor tremors to industries of all sizes including the Waste Heat to Power Market.
Waste Heat to Power Market is likely to witness an impressive CAGR of 12.1% during the forecast period. Major factors such as growth in the robust industrial sector and surge in energy demand are bolstering the product adoption across developing economies. Further, stringent government mandates along with increasing focus to curb emissions has aligned industrial inclination toward integration of effective energy conservation measures, which is likely to drive the market during forecast period.
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 waste heat stream are favorable.
This report studies the market covering a period of 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.
Based on the product type, the waste heat to power 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.
Based on the application type, the waste heat to power market is segmented as 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. Growing prominence of ORC-based systems and huge potential for heat recovery offered by cement industry are driving the waste heat to power market for cement industry applications.
In terms of regions, 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.
Key Players:
- IHI Corporation
- AMEC Foster Wheeler Ltd.
- Cochran Ltd.
- Forbes Marshall Private Limited
- Rentech Boiler Systems Inc.
- Thermax Limited
- Viessmann Limited
- General Electric
- Ormat Technologies
- Exergy SPA.
Features of the Report
This report offers high-quality insights and is the outcome of 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.
The Waste Heat to Power Market analysis report discusses the following heads in great detail:
- Market structure: Overview, industry life cycle analysis, supply chain analysis
- COVID-19 Impact Assessment
- 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, product portfolio, product launches, etc.
- Attractive market segments and associated growth opportunities
- Emerging trends
- Strategic growth opportunities for the existing and new players
- Key success factors