The Waste Heat to Power by The Business Research Company provides market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).
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According to The Business Research Company’s Waste Heat to Power, 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
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
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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 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 waste heat to power market report table of contents includes:
1. Executive Summary
2. Computational Photography Market Characteristics
3. Computational Photography Market Trends And Strategies
4. Computational Photography Market – Macro Economic Scenario
5. Global Computational Photography Market Size and Growth
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26. South America Computational Photography Market
27. Brazil Computational Photography Market
28. Middle East Computational Photography Market
29. Africa Computational Photography Market
30. Computational Photography Market Competitive Landscape And Company Profiles
Top Major Players:
- Apple Inc
- Alphabet Inc
- Samsung Electronics Co. Ltd
- Microsoft Corporation
- Huawei Technologies Co. Ltd
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