Harnessing Energy Potential: Unveiling Opportunities and Strategies in the Global Waste Heat to Power Market Until 2032 || Bosch Thermotechnology, Ormat Technologies, IHI Corporation

As per The Business Research Company's Waste Heat To Power Opportunities And Strategies Market Report 2023, the global waste heat to power market size reached a value of nearly $13,306.61 million in 2021, having grown at a compound annual growth rate (CAGR) of 5.9% since 2016. The market is expected to grow from $13,306.61 million in 2021 to $21,844.86 million in 2026 at a rate of 10.4%. The waste heat to power market size is then expected to grow at a CAGR of 9.7% from 2026 and reach $34,712.18 million in 2031.

Rising electricity demand is expected to contribute to the growth of the waste heat to power market in the forecast period. With the growing demand for energy for each product in the world, the demand for energy is surging. For instance, according to the Energy Information Administration (EIA), a US-based agency of the Federal statistical system that collects and analyzes energy information, it estimated that the global energy consumption will grow by 50% between 2020 to 2050. The rising electricity demand is driving the growth of the waste heat to power market.

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The development of lead-free (PB) materials for waste power recovery is a key trend in the market. Until 2020, lead was the only major element used in waste heat recovery systems, which is limiting the mass applications of waste heat. As a result, scientists are working on novel lead-free materials to recover waste heat with seemingly different qualities into a single material: the strong electrical conductivity of metals, the great thermoelectric sensitivity of semiconductors, and the poor thermal conductivity of glass. For instance, in February 2021, scientists from the Jawaharlal Nehru Centre for Advanced Scientific Research (JNCASR), India, an autonomous institution of the Department of Science and Technology (DST), Government of India, discovered a lead-free material called Cadmium (Cd) doped Silver Antimony Telluride (AgSbTe2) that can efficiently recover electricity from "waste heat," signaling a paradigm shift in the thermoelectric puzzle.

The top opportunities in the waste heat to power market segmented by product will arise in the steam rankine cycle segment, which will gain $4,999.84 millions of global annual sales by 2026. The top opportunities in the waste heat to power market segmented by application will arise in the steam and electricity generation segment, which will gain $6,556.38 millions of global annual sales by 2026. The top opportunities in the waste heat to power market segmented by end use will arise in the petroleum refining and oil & gas extraction segment, which will gain $2,533.87 millions of global annual sales by 2026. The waste heat to power market size will gain the most in USA at $2,598.38 million.

Waste Heat To Power Market Segmentation:
The waste heat to power market is segmented by type, by application, by end use

By Product -
a) Steam Rankine Cycle
b) Organic Rankine Cycle
c) Kalina Cycle

By Application -
a) Preheating,
b) Steam
c) Electricity Generation
d) Other Applications

By End Use -
a) Petroleum Refining
b) Oil & Gas Extraction
c) Cement Industry
d) Heavy Metal Production
e) Chemical Industry
f) Pulp And Paper,
g) Food And Beverage
h) Glass Industry
i) Other End Users

Major players in the waste heat to power market include Mitsubishi Heavy Industries, Ltd, Bosch Thermotechnology, Ormat Technologies, IHI Corporation, Dürr Group.

The regions covered in the global waste heat to power market are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

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The latest report from The Business Research Company, 'Global Waste Heat To Power Opportunities And Strategies Market Report - Forecast To 2032,' provides a comprehensive global perspective with data and statistics from 60+ geographies, analyzing 7000+ market segments. The regional and country breakdowns section offers insights into each geography's market analysis, size, historic and forecast growth, and key strategies for industry competitiveness.

Waste Heat To Power Market Report Table Of Content
1. Executive Summary
2. Table Of Contents
3. List Of Figures
4. List Of Tables
5. Report Structure
…………
20. Key Mergers And Acquisitions
21. Opportunities And Strategies
22. Waste Heat To Power Market, Conclusions And Recommendations
23. Appendix

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