Press release
[2024-2033] Waste Heat to Power Market Size, Share, Growth, Leading key Players, Industry Revenue Statistic Analysis by TBRC
Waste Heat to Power Market
The Business Research Company presents an extensive market research report on the Waste Heat to Power Global Market Report 2024, furnishing businesses with a competitive edge through a detailed examination of the market structure, encompassing estimates for various segments and sub-segments.
Furthermore, the report highlights on emerging trends, significant drivers, challenges, and opportunities, providing all necessary data for thriving in the industry. This report market research offers a comprehensive perspective, including an in-depth analysis of the present and future scenarios within the industry.
Market Sizing:
The waste heat to power market size has grown rapidly in recent years. It will grow from $16.63 billion in 2023 to $18.62 billion in 2024 at a compound annual growth rate (CAGR) of 12.0%. The growth in the historic period can be attributed to increasing demand for clean energy, strong economic growth in emerging markets and growth in industrial sector..
The waste heat to power market size is expected to see rapid growth in the next few years. It will grow to $28.97 billion in 2028 at a compound annual growth rate (CAGR) of 11.7%. The growth in the forecast period can be attributed to rising electricity demand, government initiatives and increasing investments. Major trends in the forecast period include partnership & collaboration, development of lead-free materials for waste power recovery, emergence of direct waste recovery using thermoelectric materials and product innovation. .
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Key Market Players:
Major companies operating in the waste heat to power market report are Mitsubishi Heavy Industries Ltd, Bosch Thermotechnology, Ormat Technologies, IHI Corporation, Dürr Group, Thermax Limited, Exergy SPA, Siemens Energy, ElectraTherm, Enogia SAS, Shenzhen Energy Group, Sunpower Group, Trimble Inc., Kawasaki Heavy Industries Ltd, Siemens AG, Orcan Energy, TomTom, TC Energy, Vital Energi, British Gas, EDF Energy, E. ON Next, Octopus Energy, OVO Energy, ScottishPower, Shell Energy, Hitachi Zosen Inova (HZI), EcoTerra BioGas, CEZ Group, Romelectro, ZiO-Podolsk, Notus Energy, Polish Energy Group, Terrasigna
Market Drivers:
The growth in the industrial sector is expected to propel the growth of waste heat in the power market going forward. Capital investment, labor input, financial investment, and technological innovation are the major factors influencing industrial growth. Non-metallic mineral production, petroleum refining, and heavy metal production are some of the key application areas with considerable waste heat recovery potential. For instance, according to a statistical report published in August 2022 by Eurostat, a Luxembourg-based publisher of statistics for the European Union, in 2021, the EU's industrial production increased by 8% over the previous year 2020. Furthermore, in 2021, the value of sales for industrial production in the European Union was $5429.08 billion (€5 209 billion), up by nearly 14% from $477.45 billion (€4 581 billion) in 2020. Therefore, the growth in the industrial sector is driving the growth of waste heat in the power market.
Learn More About The Market Report -
https://www.thebusinessresearchcompany.com/report/waste-heat-to-power-global-market-report
The waste heat to power market covered in this report is segmented -
1) By Product: Steam Rankine Cycle, Organic Rankine Cycle, Kalina Cycle
2) By Application: Preheating, Steam And Electricity Generation, Other Applications
3) By End Users: Petroleum Refining And Oil & Gas Extraction, Cement Industry, Heavy Metal Production, Chemical Industry, Pulp And Paper, Food And Beverage, Glass Industry, Other End Users
The report answers the following questions:
What are the primary factors propelling the market during the projected period?
In which region is the most substantial growth expected?
Which trend will take center stage in the upcoming period?
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