ORC Industrial Waste Heat to Power Market Size By Application (Oil & Gas, Cement, Glass, Steel & Metals, Others) Industry Analysis Report, Regional Outlook, Covid-19 Impact Analysis, Application Potential, Competitive Market Share & Forecast 2021 – 2027

Published Date: May 2021  |  Report ID: GMI5055  |  Authors: Ankit Gupta, Aditya Singh Bais

Report Format: PDF   |   Pages: 108   |   Base Year: 2020




Summary Table of Contents Industry Coverage Methodology

Industry Trends

ORC industrial waste heat to power market size surpassed USD 1.3 billion in 2020 and its cumulative installation is projected to exceed 750 MW by 2027. Favorable regulatory norms coupled with a growing investment towards the development of industrial infrastructure will develop new market opportunities. Stringent regulatory policies coupled with rising costs of electricity will further increase product adoption.
 

ORC industrial waste heat to power market

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ORC industrial waste heat to power systems is significantly gaining prominence across manufacturing bases owing to rapid industrialization along with the introduction of energy efficiency standards to curb carbon footprints. Soaring investments across new industrial facilities along with the growing focus toward energy optimization will encourage market growth over the forthcoming years. Moreover, large scale Energy Intensive Industries (EII) including oil & gas, steel, cement, glass and other manufacturing units have a high industrial waste heat recovery potential, which will further drive the ORC industrial waste heat to power market during the forecast timelines.
 

The ORC industrial waste heat to power industry has observed a static growth in 2020 on account of the ongoing Covid-19 pandemic across the world. Various large scale industries are shut down in most of the countries pertaining to strict lockdown guidelines introduced by respective governments. Moreover, the raw materials supply deficit and shortage of labor have impacted the ORC industrial waste heat to power equipment manufacturers and has adversely affected the market statistics of the technology. However, the industry is projected to bounce back to normalcy by the second half of FY2021, on account of easing of lockdown protocols coupled with release of various vaccinations to limit the spread of the coronavirus.
 

The ORC industrial waste heat to power study features a described analysis of industry trends across the globe segmented among applications on a regional & country basis. Furthermore, the market forecasts & estimates are in line with the data represented by authorities including the United Nations Industrial Development Organization (UNIDO), Department of Energy (DOE), European Environment Agency, International Energy Agency (IEA), ASHRAE, government regulatory bodies, and company press releases.
 

Rising demand for reliable electricity across oil & gas industry to execute various refining and well operations will propel the ORC industrial waste heat to power market share

ORC Industrial Waste Heat to Power Market By application

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Oil & gas industry accounted for over 35% market share of ORC industrial waste heat to power market in 2027. In recent years, ORC industrial waste heat to power unit installations has witnessed considerable growth across upstream and downstream oil industry on account of rising demand for reliable electricity along with growing focus toward energy optimization. Mounting investments in refining capacity additions have further elevated the demand for ancillary power supply equipment including ORC industrial waste heat to power units. For instance, In 2020, India announced to augment its refining capacity from existing 250 MTPA to 450-500 MTPA by 2030. Discharge streams from refineries comprise high-quality waste heat, which can be utilized for electricity generation, thus stimulating the deployment of ORC industrial units.
 

Growing demand for onsite power generation across North America will propel the ORC industrial waste heat to power market statistics

ORC Industrial Waste Heat to Power Market By region

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North America market size is set to witness considerable growth on account of positive outlook toward the industrial sector coupled with the soaring demand for onsite power generation. Stringent emission regulations from the energy intensive industries coupled with burgeoning energy demand across the industrial facilities will drive the regional growth of ORC industrial waste heat to power market. The ongoing investments toward the expansion of existing industrial facilities to enhance energy efficiency will fuel the market statistics across the region. Growing consumer awareness and declining prices are the underlying factors that will further favor the product penetration across several industries during the forecast period.
 

Strategic collaborations and partnerships acting as a focal point for market participants

The eminent market players are constantly focusing on innovative advancements with the purpose to expand the product portfolio for creating a competitive edge over other players. However, the integration of efficient fluids and advanced control units along with bolstering R&D facilities will positively influence the market trends. Onsite manufacturing practices coupled with cost minimization will further institute a favorable scenario for the key players operating across the ORC industrial waste heat to power industry.
 

The key industry players stated in the ORC industrial waste heat to power market report include Turboden S.p.A, IHI Corporation, Siemens AG, Kaishan USA, Strebl Energy Pvt Ltd., Ormat Technology, Durr Group, and TransPacific Energy Inc. amongst other players.
 

ORC industrial waste heat to power market research report includes in-depth coverage of the industry with estimates & forecast in terms of “MW” and ‘USD” from 2017 to 2027, for the following regions and countries:
 

  • North America
    • U.S.
    • Canada
  • Europe
    • Turkey
    • Germany
    • Italy
    • Russia
  • Asia Pacific
    • China
    • Thailand
    • Brunei
  • Rest of World
     

Frequently Asked Questions (FAQ) :

ORC industrial waste heat to power industry size was recorded at more than USD 1.3 billion in 2020 and will surpass 750 MW in terms of cumulative installation by 2027 owing to the increasing investments towards the development of industrial infrastructure.
Global revenue from the oil & gas applications is expected to reach close to 35% of the overall market share through 2027 with a higher need for reliable electricity and increased efforts toward energy optimization.
The regional market size for ORC industrial waste heat to power is slated to register exponential growth over the coming years due to the higher demand for onsite power generation.
Key industry participants are focusing on innovations, R&D activities, and onsite manufacturing practices to expand their footprint in the market.

Premium Report Details

  • Published Date: May 2021
  • Pages: 108
  • Tables: 120
  • Charts / Figures: 24
  • Companies covered: 13
  • Countries covered: 8

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