Product Code: 2065
The global waste heat to power (WHP) market is slated to grow through 2032 owing to the increasing demand for clean energy.
The market is growing favorably due to rising energy demand, expanding industrialization, and the establishment of energy efficiency regulations.
In the upcoming years, technology adoption is set to be aided by favorable government policies encouraging the installation of renewable power generation units preferred by national renewable integration targets. For instance, in September 2021, the Durr Group and Uniper SE jointly created a waste heat solution that provides customers with waste heat use options. Both businesses have enormous potential for lowering energy use and promoting decarbonization.
The waste heat to power market has been bifurcated in terms of technology, end-use, and region.
Based on technology, the Kalina segment recorded more than $784 million market size in 2022 and is anticipated to garner considerable growth rate through the review timeline. The Kalina cycle uses a binary fluid pair, often consisting of ammonia and water, and operates on the same principles as the SRC and ORC. Due to the varying boiling points of these liquids, a better thermal match is achieved by controlling the pressure during evaporation.
With respect to end-use, the petroleum refining segment is expected to showcase substantial growth rate by the end of 2032 credited to the increased attention on energy efficiency and the need for dependable electricity. Meanwhile, the cement segment is set to garner approximately 11% CAGR from 2023 to 2032 attributed to the adoption of the product throughout cement plants.
On the other hand, the paper segment is set to witness nearly 12% CAGR over the forthcoming years because of the rise in popularity of ORC-based systems. It can retrieve a sizable amount of heat from low-temperature sources which is another factor propelling the development of heat recovery technology.
In the meantime, the glass segment is slated to amass sizeable market expansion through the forecast timeframe owing to the government's focus on increasing energy efficiency together with continuous expenditures in the construction of new industrial facilities.
From the regional perspective, the North America waste heat to power market is set to attain a significant growth rate over the estimated timeline boosted by rising onsite power generating needs and a promising forecast for the expansion of the industrial sector. Meanwhile, the Latin America waste heat to power industry is projected to amass over $3 billion market valuation by 2032.
Table of Contents
Chapter 1 Methodology & Scope
- 1.1 Methodology
- 1.2 Market definitions
- 1.3 Market estimates and forecast parameters
- 1.4 Data sources
- 1.4.1 Primary
- 1.4.2 Secondary
- 1.4.2.1 Paid sources
- 1.4.2.2 Public sources
Chapter 2 Executive Summary
- 2.1 Waste heat to power industry 360 degree synopsis, 2019 - 2032
- 2.1.1 Business trends
- 2.1.2 Technology trends
- 2.1.3 End use trends
- 2.1.4 Regional trends
Chapter 3 Waste Heat to Power Industry Insights
- 3.1 Industry ecosystem analysis
- 3.2 Innovation & technology landscape
- 3.2.1 IHI Corporation
- 3.2.2 Mitsubishi Heavy Industries
- 3.2.3 Durr Group
- 3.3 Regulatory landscape
- 3.3.1 U.S.
- 3.3.1.1 Clean Air Act
- 3.3.1.2 National Ambient Air Quality Standards (NAAQS)
- 3.3.2 Waste Heat to Power Investment Tax Credit Act
- 3.3.3 U.S. Environmental Protection Agency
- 3.3.4 Europe
- 3.3.4.1 Waste Framework Directive (2008/98/EC)
- 3.3.4.2 Landfill Directive (1999/31/EC)
- 3.3.4.3 The Waste Incineration Directive (2000/76/EC) (Industrial Emissions Directives)
- 3.3.4.4 The Waste Framework Directive
- 3.3.4.5 The Waste Incineration Directive
- 3.3.4.6 The Landfill Directive
- 3.3.4.7 The Renewable Energy Directive
- 3.3.4.8 The Energy Efficiency Directive/Cogeneration Directive
- 3.3.4.9 UN Sustainable Development Goals (SDGs)
- 3.3.4.10 Ambient Air Quality Legislations
- 3.3.5 China
- 3.3.5.1 The 13th Five-Year Plan (2016-2020)
- 3.3.6 India
- 3.3.7 Japan
- 3.3.8 South Korea
- 3.3.9 Indonesia
- 3.3.9.1 Municipal Solid Waste law
- 3.3.9.2 National Industrial Policy and Environmental Protection and Management law
- 3.3.10 UAE
- 3.4 COVID- 19 impact on the industry outlook
- 3.4.1 Top 10 countries impacted by COVID-19
- 3.4.2 Overall Scenario
- 3.5 Industry impact forces
- 3.5.1 Growth drivers
- 3.5.1.1 Stringent emission norms
- 3.5.1.2 Robust industrial sector growth
- 3.5.1.3 Increasing demand for clean energy
- 3.5.2 Industry pitfalls & challenges
- 3.5.2.1 High initial investment and lack of grid infrastructure
- 3.6 Growth potential analysis
- 3.7 Porter's Analysis
- 3.7.1 Bargaining power of suppliers
- 3.7.2 Bargaining power of buyers
- 3.7.3 Threat of new entrants
- 3.7.4 Threat of substitutes
- 3.8 Competitive landscape, 2022
- 3.8.1 Strategy Dashboard
- 3.8.1.1 IHI Corporation
- 3.8.1.2 Siemens
- 3.8.1.2.1 Expansion
- 3.8.1.2.2 Agreement
- 3.8.1.3 ADNOC
- 3.8.1.4 Viessmann
- 3.8.1.5 ALFA LAVAL
- 3.8.1.6 Exergy International Srl
- 3.8.1.7 Climeon
- 3.8.1.8 AC Boilers spa (Sofinter S.p.a)
- 3.9 PESTEL Analysis
Chapter 4 Waste Heat to Power Market, By Technology
- 4.1 Waste heat to power market share by technology, 2022 & 2032
- 4.2 SRC
- 4.2.1 Global market from SRC, 2019 - 2032
- 4.2.2 Global market from SRC, by region, 2019 - 2032
- 4.3 ORC
- 4.3.1 Global market from ORC, 2019 - 2032
- 4.3.2 Global market from ORC, by region, 2019 - 2032
- 4.4 Kalina
- 4.4.1 Global market from kalina, 2019 - 2032
- 4.4.2 Global market from kalina, by region, 2019 - 2032
Chapter 5 Waste Heat to Power Market, By End-Use
- 5.1 Waste heat to power market share by end-use, 2022 & 2032
- 5.2 Petroleum refining
- 5.2.1 Global market from petroleum refining, 2019 - 2032
- 5.2.2 Global market from petroleum refining, by region, 2019 - 2032
- 5.3 Cement
- 5.3.1 Global market from cement, 2019 - 2032
- 5.3.2 Global market from cement, by region, 2019 - 2032
- 5.4 Heavy metal
- 5.4.1 Global market from heavy metal, 2019 - 2032
- 5.4.2 Global market from heavy metal, by region, 2019 - 2032
- 5.5 Chemical
- 5.5.1 Global market from chemical, 2019 - 2032
- 5.5.2 Global market from chemical, by region, 2019 - 2032
- 5.6 Paper
- 5.6.1 Global market from paper, 2019 - 2032
- 5.6.2 Global market from paper, by region, 2019 - 2032
- 5.7 Food & beverages
- 5.7.1 Global market from food & beverages, 2019 - 2032
- 5.7.2 Global market from food & beverages, by region, 2019 - 2032
- 5.8 Glass
- 5.8.1 Global market from glass, 2019 - 2032
- 5.8.2 Global market from glass, by region, 2019 - 2032
- 5.9 Others
- 5.9.1 Global market from others, 2019 - 2032
- 5.9.2 Global market from others, by region, 2019 - 2032
Chapter 6 Waste Heat to Power Market, By Region
- 6.1 Waste heat to power market share by region, 2022 & 2032
- 6.2 North America
- 6.2.1 North America market, 2019 - 2032
- 6.2.2 North America market by technology, 2019 - 2032
- 6.2.3 North America market by end-use, 2019 - 2032
- 6.2.4 U.S.
- 6.2.4.1 U.S. market, 2019 - 2032
- 6.2.4.2 U.S. market by technology, 2019 - 2032
- 6.2.4.3 U.S. market by end-use, 2019 - 2032
- 6.2.5 Canada
- 6.2.5.1 Canada market, 2019 - 2032
- 6.2.5.2 Canada market by technology, 2019 - 2032
- 6.2.5.3 Canada market by end-use, 2019 - 2032
- 6.2.6 Mexico
- 6.2.6.1 Mexico market, 2019 - 2032
- 6.2.6.2 Mexico market by technology, 2019 - 2032
- 6.2.6.3 Mexico market by end-use, 2019 - 2032
- 6.3 Europe
- 6.3.1 Europe market, 2019 - 2032
- 6.3.2 Europe market by technology, 2019 - 2032
- 6.3.3 Europe market by end-use, 2019 - 2032
- 6.3.4 Germany
- 6.3.4.1 Germany market, 2019 - 2032
- 6.3.4.2 Germany market by technology, 2019 - 2032
- 6.3.4.3 Germany market by end-use, 2019 - 2032
- 6.3.5 UK
- 6.3.5.1 UK market, 2019 - 2032
- 6.3.5.2 UK market by technology, 2019 - 2032
- 6.3.5.3 UK market by end-use, 2019 - 2032
- 6.3.6 Italy
- 6.3.6.1 Italy market, 2019 - 2032
- 6.3.6.2 Italy market by technology, 2019 - 2032
- 6.3.6.3 Italy market by end-use, 2019 - 2032
- 6.3.7 France
- 6.3.7.1 France market, 2019 - 2032
- 6.3.7.2 France market by technology, 2019 - 2032
- 6.3.7.3 France market by end-use, 2019 - 2032
- 6.3.8 Belgium
- 6.3.8.1 Belgium market, 2019 - 2032
- 6.3.8.2 Belgium market by technology, 2019 - 2032
- 6.3.8.3 Belgium market by end-use, 2019 - 2032
- 6.3.9 Spain
- 6.3.9.1 Spain market, 2019 - 2032
- 6.3.9.2 Spain market by technology, 2019 - 2032
- 6.3.9.3 Spain market by end-use, 2019 - 2032
- 6.3.10 Russia
- 6.3.10.1 Russia market, 2019 - 2032
- 6.3.10.2 Russia market by technology, 2019 - 2032
- 6.3.10.3 Russia market by end-use, 2019 - 2032
- 6.4 Asia Pacific
- 6.4.1 Asia Pacific market, 2019 - 2032
- 6.4.2 Asia Pacific market by technology, 2019 - 2032
- 6.4.3 Asia Pacific market by end-use, 2019 - 2032
- 6.4.4 China
- 6.4.4.1 China market, 2019 - 2032
- 6.4.4.2 China market by technology, 2019 - 2032
- 6.4.4.3 China market by end-use, 2019 - 2032
- 6.4.5 Australia
- 6.4.5.1 Australia market, 2019 - 2032
- 6.4.5.2 Australia market by technology, 2019 - 2032
- 6.4.5.3 Australia market by end-use, 2019 - 2032
- 6.4.6 India
- 6.4.6.1 India market, 2019 - 2032
- 6.4.6.2 India market by technology, 2019 - 2032
- 6.4.6.3 India market by end-use, 2019 - 2032
- 6.4.7 Japan
- 6.4.7.1 Japan market, 2019 - 2032
- 6.4.7.2 Japan market by technology, 2019 - 2032
- 6.4.7.3 Japan market by end-use, 2019 - 2032
- 6.4.8 South Korea
- 6.4.8.1 South Korea market, 2019 - 2032
- 6.4.8.2 South Korea market by technology, 2019 - 2032
- 6.4.8.3 South Korea market by end-use, 2019 - 2032
- 6.4.9 Philippines
- 6.4.9.1 Philippines market, 2019 - 2032
- 6.4.9.2 Philippines market by technology, 2019 - 2032
- 6.4.9.3 Philippines market by end-use, 2019 - 2032
- 6.4.10 Thailand
- 6.4.10.1 Thailand market, 2019 - 2032
- 6.4.10.2 Thailand market by technology, 2019 - 2032
- 6.4.10.3 Thailand market by end-use, 2019 - 2032
- 6.4.11 Vietnam
- 6.4.11.1 Vietnam market, 2019 - 2032
- 6.4.11.2 Vietnam market by technology, 2019 - 2032
- 6.4.11.3 Vietnam market by end-use, 2019 - 2032
- 6.5 Middle East & Africa
- 6.5.1 Middle East & Africa market, 2019 - 2032
- 6.5.2 Middle East & Africa market by technology, 2019 - 2032
- 6.5.3 Middle East & Africa market by end-use, 2019 - 2032
- 6.5.4 UAE
- 6.5.4.1 UAE market, 2019 - 2032
- 6.5.4.2 UAE market by technology, 2019 - 2032
- 6.5.4.3 UAE market by end-use, 2019 - 2032
- 6.5.5 Saudi Arabia
- 6.5.5.1 Saudi Arabia market, 2019 - 2032
- 6.5.5.2 Saudi Arabia market by technology, 2019 - 2032
- 6.5.5.3 Saudi Arabia market by end-use, 2019 - 2032
- 6.5.6 South Africa
- 6.5.6.1 South Africa market, 2019 - 2032
- 6.5.6.2 South Africa market by technology, 2019 - 2032
- 6.5.6.3 South Africa market by end-use, 2019 - 2032
- 6.6 Latin America
- 6.6.1 Latin America market, 2019 - 2032
- 6.6.2 Latin America market by technology, 2019 - 2032
- 6.6.3 Latin America market by end-use, 2019 - 2032
- 6.6.4 Brazil
- 6.6.4.1 Brazil market, 2019 - 2032
- 6.6.4.2 Brazil market by technology, 2019 - 2032
- 6.6.4.3 Brazil market by end-use, 2019 - 2032
- 6.6.5 Argentina
- 6.6.5.1 Argentina market, 2019 - 2032
- 6.6.5.2 Argentina market by technology, 2019 - 2032
- 6.6.5.3 Argentina market by end-use, 2019 - 2032
Chapter 7 Company Profiles
- 7.1 IHI Corporation
- 7.1.1 Business Overview
- 7.1.2 Financial Data
- 7.1.3 Product Landscape
- 7.1.4 SWOT Analysis
- 7.2 Cochran Ltd.
- 7.2.1 Business Overview
- 7.2.2 Financial data
- 7.2.3 Product Landscape
- 7.2.4 Strategic Outlook
- 7.2.5 SWOT Analysis
- 7.3 Siemens Energy
- 7.3.1 Business Overview
- 7.3.2 Financial Data
- 7.3.3 Product Landscape
- 7.3.4 Strategic Outlook
- 7.3.5 SWOT Analysis
- 7.4 Durr Group
- 7.4.1 Business Overview
- 7.4.2 Financial Data
- 7.4.3 Product landscape
- 7.4.4 SWOT Analysis
- 7.5 Ormat Technologies
- 7.5.1 Business Overview
- 7.5.2 Financial Data
- 7.5.3 Product Landscape
- 7.5.4 SWOT Analysis
- 7.6 Exergy International Srl
- 7.6.1 Business Overview
- 7.6.2 Financial Data
- 7.6.3 Product Landscape
- 7.6.4 Strategic Outlook
- 7.6.5 SWOT Analysis
- 7.7 Climeon
- 7.7.1 Business Overview
- 7.7.2 Financial Data
- 7.7.3 Product Landscape
- 7.7.4 Strategic Outlook
- 7.7.5 SWOT analysis
- 7.8 Aura GmbH & CO. KG
- 7.8.1 Business Overview
- 7.8.2 Financial Data
- 7.8.3 Product landscape
- 7.8.4 Strategic Outlook
- 7.8.5 SWOT Analysis
- 7.9 Mitsubishi Heavy Industries, Ltd.
- 7.9.1 Business Overview
- 7.9.2 Financial Data
- 7.9.3 Product landscape
- 7.9.4 Strategic outlook
- 7.9.5 SWOT Analysis
- 7.10 Forbes Marshall
- 7.10.1 Business Overview
- 7.10.2 Financial data
- 7.10.3 Product landscape
- 7.10.4 SWOT Analysis
- 7.11 Walchandnagar Industries Limited (WIL)
- 7.11.1 Business Overview
- 7.11.2 Financial Data
- 7.11.3 Product Landscape
- 7.11.4 SWOT Analysis
- 7.12 General Electric
- 7.12.1 Business Overview
- 7.12.2 Financial Data
- 7.12.3 Product Landscape
- 7.12.4 SWOT Analysis
- 7.13 Rentech Boiler System
- 7.13.1 Business Overview
- 7.13.2 Financial Data
- 7.13.3 Product Landscape
- 7.13.4 SWOT Analysis
- 7.14 AC Boiler SpA
- 7.14.1 Business Overview
- 7.14.2 Financial Data
- 7.14.3 Product Landscape
- 7.14.4 SWOT Analysis
- 7.15 Thermax Ltd
- 7.15.1 Business Overview
- 7.15.2 Financial Data
- 7.15.3 Product Landscape
- 7.15.4 SWOT Analysis