AUS
NZ
UK
CA
USA
FRA
GER
ESP
ITA
NLD
PRT
SWE
GRC
IND
POL
BRA
ZAF
RUS
CHN
UAE
LANDON, GREATER LANDON, UK, November 2, 2023 /EINPresswire.com/ -- The global waste heat to power market, currently valued at $15.83 billion in 2022, is projected to reach $18.48 billion in 2023, reflecting a substantial compound annual growth rate (CAGR) of 16.7%. Despite the disruptive impact of the Russia-Ukraine conflict on the global economy, the waste heat to power market is expected to exhibit robust growth, targeting a significant valuation of $30.36 billion by 2027.
Market Segmentation and Key Players
• Product: Steam Rankine Cycle, Organic Rankine Cycle, Kalina Cycle
• Application: Preheating, Steam And Electricity Generation, Other Applications
• End Use: Petroleum Refining, Cement Industry, Heavy Metal Production, Chemical Industry, Pulp And Paper, Food And Beverage, Glass Industry, Other End Users
Key waste heat to power companies such as Siemens Energy AG and Verizon Connect are actively involved in pioneering developments, embracing lead-free material innovations to enable efficient waste heat recovery, signaling a pivotal shift in the landscape of waste heat to power technologies. Siemens Energy AG's collaboration with TC Energy Corporation in Alberta, Canada, to establish a waste heat-to-power plant installation represents a milestone achievement in the sector, harnessing waste heat from a gas-fired turbine to generate emissions-free electricity, leading to significant greenhouse gas reductions.
For detailed insights, explore the sample report on the global waste heat to power market:
https://www.thebusinessresearchcompany.com/sample.aspx?id=5822&type=smp
Industrial Sector Growth as a Primary Catalyst
With the industrial sector accounting for a substantial proportion of the global energy consumption, the increasing focus on waste heat recovery to drive power generation is significantly bolstering the waste heat to power market. Notably, according to the U.S. Energy Information Administration, the industrial sector accounted for a significant portion of the United States' end-use energy consumption in 2020, highlighting the sector's critical role in shaping energy consumption patterns. The robust growth observed in the non-metallic mineral products industry, surpassing overall industrial output, reflects the growing momentum in waste heat recovery initiatives and their pivotal role in fostering sustainable energy practices within the industrial landscape.
Insights from Lead-Free Material Innovations
Efforts to introduce lead-free materials for waste power recovery have gained traction, offering an unprecedented opportunity to enhance the efficiency and applicability of waste heat recovery systems. The discovery of Cadmium (Cd) doped Silver Antimony Telluride (AgSbTe2) by scientists from the Jawaharlal Nehru Centre for Advanced Scientific Research (JNCASR) signifies a groundbreaking milestone, demonstrating the ability to efficiently harness electricity from waste heat. The integration of lead-free materials with advanced thermoelectric properties is reshaping the waste heat to power landscape, emphasizing sustainability and environmental responsibility.
Regional Analysis and Market Coverage
While Europe maintained its position as the largest region in the waste heat to power market in 2022, the comprehensive market analysis encompasses key regions, including Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, providing a comprehensive understanding of the global waste heat to power market landscape and its growth trajectory.
Access the complete report for comprehensive insights into the global waste heat to power market:
https://www.thebusinessresearchcompany.com/report/waste-heat-to-power-global-market-report
Waste Heat to Power Global Market Report 2023from TBRC covers the following information:
• Market size date for the forecast period: Historical and Future
• Market analysis by region: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.
• Market analysis by countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
Trends, opportunities, strategies and so much more.
The Waste Heat to Power Global Market Report 2023 by The Business Research Company is the most comprehensive report that provides insights on waste heat to power market size, waste heat to power market drivers and trends, waste heat to power market major players, waste heat to power market competitors' revenues, market positioning, and waste heat to power market growth across geographies. The waste heat to power market report helps you gain in-depth insights on opportunities and strategies. Companies can leverage the data in the report and tap into segments with the highest growth potential.
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