Waste Heat to Power Global Market Report 2022 – By Product (Steam Rankine Cycle, Organic Rankine Cycle, Kalina Cycle), By Application (Preheating, Steam And Electricity Generation), By End-Use (Petroleum Refining, Cement Industry, Heavy Metal Production, Chemical Industry, Pulp And Paper, Food And Beverage, Glass Industry) – Market Size, Trends, And Global Forecast 2022-2026

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The waste heat to power market consists of sales of waste heat to power products by entities (organizations, sole traders, and partnerships) that are involved in capturing heat discharged by an existing process and using it to create power. Waste heat is energy produced in industrial operations that are not consumed and are thus lost, thrown away, or discharged into the environment. Steel mills, refineries, glass furnaces, and cement kilns, among other energy-intensive industrial operations, all emit hot exhaust gases and waste streams that can be used to generate power using well-established technology. It reduces pollution, equipment size, and auxiliary energy consumption.

The main types of products in waste heat to power market are the steam Rankine cycle, organic Rankine cycle, and Kalina cycle. The steam Rankine cycle is a simplified thermodynamic cycle of a constant-pressure heat engine that turns some heat into mechanical work. Heat is provided externally to a closed loop in this cycle, which typically uses water (in both liquid and vapor phases) as the working fluid. The various application includes preheating, steam, and electricity generation, among others, and are used by several sectors such as petroleum refining, cement industry, heavy metal production, chemical industry, pulp and paper, food and beverage, glass industry, others.

The global waste heat to power market is expected to grow from $13.44 billion in 2021 to $15.67 billion in 2022 at a compound annual growth rate (CAGR) of 16.6%. The waste heat to power market is expected to grow to $25.65 billion in 2026 at a CAGR of 13.1%.

The growth in the industrial sector is expected to propel the growth of waste heat to the power market going forward. Capital investment, labour 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 the U.S. Energy Information Administration, in the year 2020, the industrial sector accounted for 36% of the total United States' end-use energy consumption and 33% of total U.S. energy consumption. Also, according to new Central Statistics Office data, factory output in the non-metallic mineral products industry increased by 8.0% in February 2020 compared to February 2019. The non-metallic mineral products industry grew faster than overall industrial output, which increased by 4.5%. Nonmetallic mineral products accounted for 4.09% of total industrial production (IIP) and contributed 0.33% to IIP growth. Therefore, the growth in the industrial sector is driving the growth of waste heat to power market.

The development of Lead (PB) free materials for waste power recovery is a key trend in the market. Till 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 glasses. For instance, in February 2021, scientists from the Jawaharlal Nehru Centre for Advanced Scientific Research (JNCASR), an autonomous institution of the Department of Science and Technology (DST), Government of India, have 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.

In February 2021, Siemens Energy AG, a Germany-based energy company has signed an agreement with TC Energy Corporation for the commission of a waste heat-to-power plant installation in Alberta, Canada, for an undisclosed amount. As part of the deal, Siemens Energy will build and run the facility, with the possibility of TC Energy regaining ownership at a later date. The facility would capture waste heat from a gas-fired turbine operating at a pipeline compression station and will further convert it into emissions-free power. The electricity generated will be fed back into the system, resulting in an estimated 44,000 tons of greenhouse gas reductions each year. TC Energy Corporation is a Canada-based natural gas company.

Major players in the waste heat to power market are ABB Ltd., AMEC Foster Wheeler Ltd., CNBM Group, Cochran Ltd., Dalian East New Energy Development Co. Ltd., Dürr Group, ElectraTherm, E-Rational, Forbes Marshall, General Electric, GETEC Energie Holding GmbH, IHI Corp., Mitsubishi Power Ltd., Ormat Technologies, Rentech Boiler Systems Inc., Siemens, Thermax Limited, Viessmann Limited, AC Boilers SpA, Bosch Thermotechnology, and Walchandnagar.

Europe was the largest region in the waste heat to power market in 2021. The regions covered in waste heat to power market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.

The countries covered in the waste heat to power market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, and USA.

The global waste heat to power market 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 Use: Petroleum Refining, Cement Industry, Heavy Metal Production, Chemical Industry, Pulp And Paper, Food And Beverage, Glass Industry, Other End Users

    Table Of Contents

    1. Executive Summary

    2. Waste Heat to Power Market Characteristics

    3. Waste Heat to Power Market Trends And Strategies

    4. Impact Of COVID-19 On Waste Heat to Power

    5. Waste Heat to Power Market Size And Growth

    5.1. Global Waste Heat to Power Historic Market, 2016-2021, $ Billion

    5.1.1. Drivers Of The Market

    5.1.2. Restraints On The Market

    5.2. Global Waste Heat to Power Forecast Market, 2021-2026F, 2031F, $ Billion

    5.2.1. Drivers Of The Market

    5.2.2. Restraints On the Market

    6. Waste Heat to Power Market Segmentation

    6.1. Global Waste Heat to Power Market, Segmentation By Product, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion

    Steam Rankine Cycle

    Organic Rankine Cycle

    Kalina Cycle

    6.2. Global Waste Heat to Power Market, Segmentation By Application, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion

    Preheating

    Steam And Electricity Generation

    Other Applications

    6.3. Global Waste Heat to Power Market, Segmentation By End-Use, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion

    Petroleum Refining

    Cement Industry

    Heavy Metal Production

    Chemical Industry

    Pulp And Paper

    Food And Beverage

    Glass Industry

    Other End-Uses

    7. Waste Heat to Power Market Regional And Country Analysis

    7.1. Global Waste Heat to Power Market, Split By Region, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion

    7.2. Global Waste Heat to Power Market, Split By Country, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion

    8. Asia-Pacific Waste Heat to Power Market

    8.1. Asia-Pacific Waste Heat to Power Market Overview

    Region Information, Impact Of COVID-19, Market Information, Background Information, Government Initiatives, Regulations, Regulatory Bodies, Major Associations, Taxes Levied, Corporate Tax Structure, Investments, Major Companies

    8.2. Asia-Pacific Waste Heat to Power Market, Segmentation By Product, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion

    8.3. Asia-Pacific Waste Heat to Power Market, Segmentation By End-Use, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion

    9. China Waste Heat to Power Market

    9.1. China Waste Heat to Power Market Overview

    9.2. China Waste Heat to Power Market, Segmentation By Product, Historic and Forecast, 2016-2021, 2021-2026F, 2031F,$ Billion

    9.3. China Waste Heat to Power Market, Segmentation By End-Use, Historic and Forecast, 2016-2021, 2021-2026F, 2031F,$ Billion

    10. India Waste Heat to Power Market

    10.1. India Waste Heat to Power Market, Segmentation By Product, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion

    10.2. India Waste Heat to Power Market, Segmentation By End-Use, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion

    11. Japan Waste Heat to Power Market

    11.1. Japan Waste Heat to Power Market, Segmentation By Product, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion

    11.2. Japan Waste Heat to Power Market, Segmentation By End-Use, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion

    12. Australia Waste Heat to Power Market

    12.1. Australia Waste Heat to Power Market, Segmentation By Product, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion

    12.2. Australia Waste Heat to Power Market, Segmentation By End-Use, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion

    13. Indonesia Waste Heat to Power Market

    13.1. Indonesia Waste Heat to Power Market, Segmentation By Product, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion

    13.2. Indonesia Waste Heat to Power Market, Segmentation By End-Use, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion

    14. South Korea Waste Heat to Power Market

    14.1. South Korea Waste Heat to Power Market, Segmentation By Product, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion

    14.2. South Korea Waste Heat to Power Market, Segmentation By End-Use, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion

    15. Western Europe Waste Heat to Power Market

    15.1. Western Europe Waste Heat to Power Market Overview

    15.2. Western Europe Waste Heat to Power Market, Segmentation By Product, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion

    15.3. Western Europe Waste Heat to Power Market, Segmentation By End-Use, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion

    16. UK Waste Heat to Power Market

    16.1. UK Waste Heat to Power Market, Segmentation By Product, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion

    16.2. UK Waste Heat to Power Market, Segmentation By End-Use, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion

    17. Germany Waste Heat to Power Market

    17.1. Germany Waste Heat to Power Market, Segmentation By Product, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion

    17.2. Germany Waste Heat to Power Market, Segmentation By End-Use, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion

    18. France Waste Heat to Power Market

    18.4. France Waste Heat to Power Market, Segmentation By Product, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion

    18.5. France Waste Heat to Power Market, Segmentation By End-Use, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion

    19. Eastern Europe Waste Heat to Power Market

    19.1. Eastern Europe Waste Heat to Power Market Overview

    19.2. Eastern Europe Waste Heat to Power Market, Segmentation By Product, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion

    19.3. Eastern Europe Waste Heat to Power Market, Segmentation By End-Use, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion

    20. Russia Waste Heat to Power Market

    20.1. Russia Waste Heat to Power Market, Segmentation By Product, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion

    20.2. Russia Waste Heat to Power Market, Segmentation By End-Use, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion

    21. North America Waste Heat to Power Market

    21.1. North America Waste Heat to Power Market Overview

    21.2. North America Waste Heat to Power Market, Segmentation By Product, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion

    21.3. North America Waste Heat to Power Market, Segmentation By End-Use, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion

    22. USA Waste Heat to Power Market

    22.1. USA Waste Heat to Power Market Overview

    22.2. USA Waste Heat to Power Market, Segmentation By Product, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion

    22.3. USA Waste Heat to Power Market, Segmentation By End-Use, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion

    23. South America Waste Heat to Power Market

    23.1. South America Waste Heat to Power Market Overview

    23.2. South America Waste Heat to Power Market, Segmentation By Product, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion

    23.3. South America Waste Heat to Power Market, Segmentation By End-Use, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion

    24. Brazil Waste Heat to Power Market

    24.1. Brazil Waste Heat to Power Market, Segmentation By Product, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion

    24.2. Brazil Waste Heat to Power Market, Segmentation By End-Use, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion

    25. Middle East Waste Heat to Power Market

    25.1. Middle East Waste Heat to Power Market Overview

    25.2. Middle East Waste Heat to Power Market, Segmentation By Product, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion

    25.3. Middle East Waste Heat to Power Market, Segmentation By End-Use, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion

    26. Africa Waste Heat to Power Market

    26.1. Africa Waste Heat to Power Market Overview

    26.2. Africa Waste Heat to Power Market, Segmentation By Product, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion

    26.3. Africa Waste Heat to Power Market, Segmentation By End-Use, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion

    27. Waste Heat to Power Market Competitive Landscape And Company Profiles

    27.1. Waste Heat to Power Market Competitive Landscape

    27.2. Waste Heat to Power Market Company Profiles

    27.2.1. ABB Ltd.

    27.2.1.1. Overview

    27.2.1.2. Products and Services

    27.2.1.3. Strategy

    27.2.1.4. Financial Performance

    27.2.2. AMEC Foster Wheeler Ltd.

    27.2.2.1. Overview

    27.2.2.2. Products and Services

    27.2.2.3. Strategy

    27.2.2.4. Financial Performance

    27.2.3. CNBM Group

    27.2.3.1. Overview

    27.2.3.2. Products and Services

    27.2.3.3. Strategy

    27.2.3.4. Financial Performance

    27.2.4. Cochran Ltd.

    27.2.4.1. Overview

    27.2.4.2. Products and Services

    27.2.4.3. Strategy

    27.2.4.4. Financial Performance

    27.2.5. Dalian East New Energy Development Co. Ltd.

    27.2.5.1. Overview

    27.2.5.2. Products and Services

    27.2.5.3. Strategy

    27.2.5.4. Financial Performance

    28. Key Mergers And Acquisitions In The Waste Heat to Power Market

    29. Waste Heat to Power Market Future Outlook and Potential Analysis

    30. Appendix

    30.1. Abbreviations

    30.2. Currencies

    30.3. Research Inquiries

    30.4. The Business Research Company

    30.5. Copyright And Disclaimer

List Of Tables

    Table 1: Global Historic Market Growth, 2016-2021, $ Billion
  • Table 2: Global Forecast Market Growth, 2021-2026F, 2031F, $ Billion
  • Table 3: Global Waste Heat to Power Market, Segmentation By Product, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion
  • Table 4: Global Waste Heat to Power Market, Segmentation By Application, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion
  • Table 5: Global Waste Heat to Power Market, Segmentation By End-Use, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion
  • Table 6: Global Waste Heat to Power Market, Split By Region, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion
  • Table 7: Global Waste Heat to Power Market, Split By Country, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion
  • Table 8: Asia-Pacific, Waste Heat to Power Market, Segmentation By Product, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion
  • Table 9: Asia-Pacific, Waste Heat to Power Market, Segmentation By End-Use, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion
  • Table 10: China, Waste Heat to Power Market, Segmentation By Product, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion
  • Table 11: China, Waste Heat to Power Market, Segmentation By End-Use, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion
  • Table 12: India, Waste Heat to Power Market, Segmentation By Product, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion
  • Table 13: India, Waste Heat to Power Market, Segmentation By End-Use, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion
  • Table 14: Japan, Waste Heat to Power Market, Segmentation By Product, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion
  • Table 15: Japan, Waste Heat to Power Market, Segmentation By End-Use, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion
  • Table 16: Australia, Waste Heat to Power Market, Segmentation By Product, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion
  • Table 17: Australia, Waste Heat to Power Market, Segmentation By End-Use, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion
  • Table 18: Indonesia, Waste Heat to Power Market, Segmentation By Product, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion
  • Table 19: Indonesia, Waste Heat to Power Market, Segmentation By End-Use, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion
  • Table 20: South Korea, Waste Heat to Power Market, Segmentation By Product, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion
  • Table 21: South Korea, Waste Heat to Power Market, Segmentation By End-Use, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion
  • Table 22: Western Europe, Waste Heat to Power Market, Segmentation By Product, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion
  • Table 23: Western Europe, Waste Heat to Power Market, Segmentation By End-Use, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion
  • Table 24: UK, Waste Heat to Power Market, Segmentation By Product, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion
  • Table 25: UK, Waste Heat to Power Market, Segmentation By End-Use, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion
  • Table 26: Germany, Waste Heat to Power Market, Segmentation By Product, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion
  • Table 27: Germany, Waste Heat to Power Market, Segmentation By End-Use, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion
  • Table 28: France, Waste Heat to Power Market, Segmentation By Product, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion
  • Table 29: France, Waste Heat to Power Market, Segmentation By End-Use, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion
  • Table 30: Eastern Europe, Waste Heat to Power Market, Segmentation By Product, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion
  • Table 31: Eastern Europe, Waste Heat to Power Market, Segmentation By End-Use, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion
  • Table 32: Russia, Waste Heat to Power Market, Segmentation By Product, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion
  • Table 33: Russia, Waste Heat to Power Market, Segmentation By End-Use, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion
  • Table 34: North America, Waste Heat to Power Market, Segmentation By Product, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion
  • Table 35: North America, Waste Heat to Power Market, Segmentation By End-Use, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion
  • Table 36: USA, Waste Heat to Power Market, Segmentation By Product, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion
  • Table 37: USA, Waste Heat to Power Market, Segmentation By End-Use, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion
  • Table 38: South America, Waste Heat to Power Market, Segmentation By Product, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion
  • Table 39: South America, Waste Heat to Power Market, Segmentation By End-Use, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion
  • Table 40: Brazil, Waste Heat to Power Market, Segmentation By Product, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion
  • Table 41: Brazil, Waste Heat to Power Market, Segmentation By End-Use, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion
  • Table 42: Middle East, Waste Heat to Power Market, Segmentation By Product, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion
  • Table 43: Middle East, Waste Heat to Power Market, Segmentation By End-Use, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion
  • Table 44: Africa, Waste Heat to Power Market, Segmentation By Product, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion
  • Table 45: Africa, Waste Heat to Power Market, Segmentation By End-Use, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion
  • Table 46: ABB Ltd. Financial Performance
  • Table 47: AMEC Foster Wheeler Ltd. Financial Performance
  • Table 48: CNBM Group Financial Performance
  • Table 49: Cochran Ltd. Financial Performance
  • Table 50: Dalian East New Energy Development Co. Ltd. Financial Performance

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