The ORC Industrial Waste Heat to Power Market is expected to surpass USD 2 Billion by 2027 at a CAGR of 5%, as reported in the latest study by Global Market Insights, Inc. Rising electricity demand across the globe coupled with stringent emission norms is expected to enhance the business outlook over the forecast timelines.
ORC industrial waste heat to power industry from steel and metal segment is set to witness significant growth on account of rapid industrialisation along with high waste heat recovery potential from energy-intensive industries. For instance, in integrated steel mills, heat can be recovered from blast furnaces, coke ovens, and oxygen furnaces which will positively raise the product penetration.
The presence of a large number of high temperature processes and the growing demand for onsite power generation are set to boost the installation of ORC-WHP systems across steel and heavy metal production industries.
Major Findings from the Report
Strict regulatory norms across various manufacturing industries will boost the product adoption across the globe. Escalating electricity demand across the industrial establishments is projected to augment the ORC industrial waste heat to power industry outlook.
Soaring investments in industrial waste heat recovery technologies to stimulate the demand for ORC industrial WHP systems.The ability to effectively exploit low-grade waste heat from industrial sources will further influence the product penetration.
The ongoing public awareness pertaining to climate change and stringent government regulations related to GHG emissions will further rise the adoption of these units.
Leading players operating across the industry are Turboden S.p.A, Kaishan USA, Siemens AG, Boustead International Heaters, TransPacific Energy Inc., General Electric, and Strebl Energy Pvt Ltd amongst others.
The Asia Pacific ORC industrial waste heat to power market is set to witness a considerable surge on account of robust industrial growth along with rising demand for distributed power systems.
Growing power demand from large scale industries will drive the need for industrial waste heat recovery units, which will positively boost the deployment of ORC industrial units.
Moreover, supportive policy framework toward the adoption of clean technologies along with less emissions from the industries will complement ORC industrial waste heat to power market during the forecast timeline.
Rising investments toward the development of various clean technologies across industrial facilities to curb GHG emission will raise the ORC industrial waste heat to power market expansion. Furthermore, declining prices and growing consumer awareness are anticipated to enhance the penetration of ORC systems in the coming years.
Global Market Insights
Global Market Insights Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider, offering syndicated and custom research reports along with growth consulting services.
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These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.
