Waste Heat to Power Market Size By Product (Steam Rankine Cycle, Organic Rankine Cycle, Kalina Cycle), By Application (Petroleum Refining, Cement Industry, Heavy Metal Production, Chemical Industry, Pulp & Paper, Food & Beverage, Glass Industry, Others), Industry Analysis Report, Regional Outlook (U.S., Canada, Mexico, Germany, UK, Italy, France, Belgium, Spain, Russia, China, Australia, India, Japan, South Korea, Philippines, Thailand, Vietnam, UAE, Saudi Arabia, South Africa, Brazil, Argentina), Application Potential, Competitive Market Share & Forecast, 2019 – 2025

Latest Update: Jan 2019 |  Published Date: Sep 2017 | 240 Pages | Report ID: GMI2065 | Authors: Ankit Gupta, Aditya Singh Bais Report Format: PDF

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Industry Trends

Waste Heat to Power Market size was valued over USD 15 billion in 2018 and annual capacity addition is anticipated to exceed 14 GW by 2025.

U.S. Waste Heat to Power Market Size, By Technology, 2018 & 2025 (USD Million)

U.S. Waste Heat to Power Market Size, By Technology, 2018 & 2025 (USD Million)

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Paradigm shift toward the integration of renewable energy resources along with rising global energy demand is set to drive the waste heat to power market size. Robust industrial sector growth & rising energy demand will stimulate the product adoption across developing economies. Stringent government mandates along with rising focus to curtail emissions have aligned industrial inclination toward integration of effective energy conservation measures.

Growing significance for energy management & optimization coupled with growing consumer awareness toward utilization of renewable energy resources will stimulate waste heat to power market size. Energy intensive industries including non-metallic mineral production, petroleum refining, and heavy metal production are some of the key application areas with significant waste heat recovery potential. WHP systems on account of their ability to reduce operating costs and compliance with the clean energy initiatives is set to gain prominence over the coming years.

Government initiatives aimed at maximizing energy efficiency while reducing carbon footprint will drive the deployment of waste heat to power systems. In addition, effective energy utilization policies have shifted the regulatory and consumer policies toward energy efficiency and environmental protection. Ongoing technological innovations have significantly reduced the system cost which will further stimulate the WHP market growth.

Waste Heat to Power Market, By Technology

Steam rankine cycle WHP market is predicted to expand over 12% by 2025. Ease of operation and minimal maintenance cost are the prominent features favoring the technology deployment preferable over other available counterparts. Furthermore, rising demand for clean energy from energy intensive industries along with stringent emission norms will propel the product demand.

Kalina cycle waste heat to power market size in 2018, was valued over USD 400 million. Declining costs and rising consumer awareness toward energy efficient heat recovery systems will stimulate the product demand in near timeframe. Features including flexibility and reduced thermal emissions and ability to offer higher thermodynamic efficiency will boost the technology adoption.

Waste Heat to Power Market, By End-Use

China Waste Heat to Power Market Size, By End-Use, 2018 & 2025 (USD Million)

China Waste Heat to Power Market Size, By End-Use, 2018 & 2025 (USD Million)

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Cement industries, in 2018 accounted for over 24% of the global waste heat to power market size. The growth across the sector is attributed to huge potential for heat recovery offered by cement industries along with increasing electricity tariffs. Growing prominence of ORC-based systems on account of their ability to recover a significant amount of heat from low-temperature sources will further support their incursion in the industry.

Shifting trends toward energy optimization along with demand for reliable and uninterrupted electricity will foster the petroleum refining industry WHP market size. Exhaust streams from refineries contain high-quality waste heat, which can be utilized for power generation. Rising industrial investments toward refining capacity additions along with increasing demand for refined petroleum products will further stimulate the product adoption across the sector.

Waste heat to power market across heavy metal production industry is anticipated to grow over 12% by 2025. Escalating demand for onsite power generation along with presence of large number of high temperature processes across these industries will drive the deployment of these systems. Increasing government spending toward infrastructure development coupled with robust industrial sector growth will further enhance the industry outlook.

Waste Heat to Power Market, By Region

Europe Waste Heat to Power Market Size, By Region, 2018 (USD Million)

Europe Waste Heat to Power Market Size, By Region, 2018 (USD Million)

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Increasing investment toward clean energy technologies along with growing demand for onsite power generation will drive the U.S. waste heat to power market share. Rising need for retrofitting and expansion of existing industrial equipment on account of stringent legislative emission standards will boost the product demand. The U.S. EPA under its Clean Air Act introduced national emission standards with an aim to limit emissions of hazardous air pollutants from stationary and mobile sources. Positive outlook toward industrial sector growth will further stimulate the demand for WHP systems.

Europe waste heat to power market is set to surpass USD 12 billion by 2025. Introduction of energy efficiency standards and efforts toward reducing GHG emissions from the key economic sectors will strengthen the deployment prospects for these units. Technology innovations, declining costs and supportive policy environment are some of the paramount factors which will stimulate the product demand across the region. Rising focus toward sustainable development and energy security will augment the industry outlook.

China waste heat to power market will witness robust growth on account of establishment of new industrial facilities along with resurgent economic growth in the country. Ongoing investments across chemical industries coupled with the focus of regulatory regime to improve energy efficiency will further expand the installation arena of WHP units. Moreover, introduction of financial incentives with an aim to support the emission reduction efforts will complement the industry outlook.

Competitive Market Share

Key industry players operating across waste heat to power market include IHI Corporation, AMEC Foster Wheeler, Cochran, Forbes Marshall Private, Mitsubishi Hitachi Power Systems, Siemens, AC Boilers Spa, Rentech Boiler Systems, Thermax, Viessmann, Bosch Thermotechnology, Walchandnagar, General Electric, Ormat, Exergy and Dürr Group.

Eminent participants across the industry are focusing on various strategic assets including overseas business expansion, strategic business acquisitions, robust research & development activities and joint ventures as a part of their strategy initiatives. Moreover, in addition to refurbishment, companies are also focused in providing extended after sales service to attain competitive edge over other players.

Waste Heat to Power Industry Background

Waste Heat to Power Market Segmentation

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

What Information does this report contain?

Historical data coverage: 2014 to 2018; Growth Projections: 2019 to 2025.
Expert analysis: industry, governing, innovation and technological trends; factors impacting development; drawbacks, SWOT.
6-7 year performance forecasts: major segments covering applications, top products and geographies.
Competitive landscape reporting: market leaders and important players, competencies and capacities of these companies in terms of production as well as sustainability and prospects.

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