Waste Heat to Power Market is valued at USD 14.4 Billion in 2018 and expected to reach USD 32.7 Billion by 2025 with a CAGR of 12.43% over the forecast period. Increasing concern regarding global warming and government regulations are the key driving factors for the growth of global waste heat to power market.
Waste Heat to Power Market report published by the Brandessence Market Research and Consulting Pvt. Ltd. provides the detail information about Waste Heat to Power Market from various aspects. This report consists of drivers, challenges and opportunities which help the market to grow over the analysis period and recent trends which supports the growth of market. This report consists of regional segmentation with product type and applications.
Waste heat is the energy that is produced in industrial processes which is not put into any practical useand is wasted and dumped into the atmosphere. Sources of waste heat mostly include heat loss transferred through conduction, convection and radiation from industrial products, equipment and processes and heat discharged from combustion processes. Waste heat loss can be classified into high temperature, medium temperature and low temperature grades. Waste heat to power systems are introduced for each range of wasteheat to allow the most optimum efficiency of waste heat recovery to be obtained. Recovering the waste heat i.e. waste heat to power can be conducted through various waste heat recovery technologies to provide valuable energy sources and reduce the overall energy consumption.
Increasing concern regarding global warming with the task of reducing greenhouse gas emissions and improving the efficiency of their sites are the major driving factors for waste heat to power market growth. The use of waste heat to power systems in industrial processes has been as one of the major areas of research to reduce fuel consumption, improve production efficiency and lower harmful emissions. Stringent energy policies of governments regarding the carbon dioxide emission from the waste heat is also driving the growth of waste heat to power market. New technological advancements by the WHP system suppliers is another important driver for the waste heat to power market expansion globally. There is a general lack of end-user awareness of waste heat to power technologies and benefits is major restraining factor for the growth of the waste heat to power market. Developing economic and environmental drivers are creating new opportunities to evaluate waste heat to power market in the forecast period.