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ORC Industrial Waste Heat to Power Market Size By Application (Oil & Gas, Cement, Glass, Steel & Metals), COVID-19 Impact Analysis, Regional Outlook, Growth Potential, Competitive Market Share & Forecast, 2023 – 2032

  • Report ID: GMI5055
  • Published Date: Jan 2023
  • Report Format: PDF

Industry Statistics

ORC Industrial Waste Heat to Power Market size valued at USD 3.5 billion in 2022 and is projected to expand at over 12.5% CAGR from 2023 to 2032.
 

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The growing concerns associated with climate change, carbon footprint, and environmental pollution will have a significant impact on the industry dynamics. In the last decade, several governments worldwide have introduced very stringent government regulations and norms pertaining to the effects of fossil fuel consumption on the environment. For instance, in December 2022, the European Commission rolled out new environmental regulations aimed at making chemical and textile plants greener. These regulations were also introduced to enable effective management and treatment of gas across textile and chemical facilities.
 

Need for hefty capital investments to restrain industry growth

Lack of grid infrastructure and the optimum need for high initial investments for the development of ORC-based waste heat for powering plants could hamper the adoption of these systems. The ongoing strides in the field of ORC technology are adding to the costs of these systems. This scenario will hamper the product adoption across underdeveloped and developing regions with lack of capital backbone and slow economic growth. However, the surging demand for clean electricity is compelling massive public and private investments to curb emissions, further helping industry players to overcome current roadblocks.
 

Rising number of stringent emission reduction regulations to foster ORC system demand in APAC

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Asia Pacific ORC industrial waste heat to power market size is poised to surpass USD 5 billion by 2032. The region is anticipated to emerge as a major hotspot for ORC systems with increasing CO2 emissions driven by the massive footprint of energy-intensive sectors. ORC technology is emerging as a promising technology across China, India, and other APAC countries owing to the growing pressure on power generation to cater to the energy demands of the surging population rate. The increasing adoption of this technology can also be attributed to its ability to trap the waste heat from industrial processes to curb the carbon footprint.
 

Increasing demand for steel production to boost industry expansion

Authors: Ankit Gupta, Vinayak Shukla

Frequently Asked Questions (FAQ) :

The market size of ORC industrial waste heat to power crossed USD 3.5 billion in 2022 and is anticipated to exhibit over 12.5% gains through 2032.
The steel & metal application segment is predicted to observe nearly 12% CAGR between 2023 and 2032 driving by the increasing steel production in countries such as the U.S.
The Asia Pacific market size is poised to surpass USD 5 billion by 2032 owing to the presence of strict CO2 emission norms.
General Electric, Siemens, Climeon, AURA, BIHL, Kaishan USA, ALFA LAVAL, and Calnetix Technologies, LLC. are some of the leading players in the industry.

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Premium Report Details

  • Base Year: 2022
  • Companies covered: 16
  • Tables & Figures: 212
  • Countries covered: 10
  • Pages: 150
  • Upcoming Report: Details can be customized to meet your information and data needs. Feel free to share your detailed research requirements via this form.

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