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Industrial waste heat is the energy that is generated from the industries and the other such commercial bodies and thrown into the environment instead of re-utilizing it. The multiple companies are implementing heat recovery systems so as to reduce the energy losses and to utilize it in an effective way. Various waste heat recovery methods such as Kalina Cycle are being used in-order to reduce the significant amount of energy losses in the production process. Other techniques used in recovering the waste heat includes waste heat boilers and heat exchangers. Industries are now focusing on setting up various waste heat recovery technologies and saving of energies by setting up waste heat recovery systems in the food and ceramic industries.
The government regulations regarding the energy savings, incentives provided by the government and increase in the requirement of energy becoming the major growth drivers for waste heat recovery systems. Further, Europe being the largest market in the industrial WHR systems while North America region coming in the second position supplying of WHR systems. With the high amount of energy required by the industries due to increase in the production rate per capita waste heat recovery system gets in high demand. However, the high initial investment and due to lack of area for putting the grid structure hinder the market growth. Contrarily, requirement for controlling temperature in waste heat recovery systems, trend of cost effective and eco-friendly waste heat recovery systems present new opportunities in the industry.
The global waste heat recovery market trends are as follows:
The launch of new products to the market can boost the growth of the market. For example ABB ltd has recently proposed two types of waste recovery systems basically for marine diesel engines that could effectively utilize the waste heat generated from the Engine exhaust. Secondly, Mitsubishi has also launched a product named as 12K98 ME-C heat recovery system that could retrieve the waste energy in the form of electricity. Applications like Orc system has been recently used in the marine systems whose basic purpose is to convert the low temperature heat into the effective energy (power).Â
Moreover, these waste heat recovery systems offer cost and energy saving benefits.
Now a days manufacturers are producing new products on the basis of interests of the consumers. Growing demand for the ceramic and cement industries are increasing day by day which pushes the usage of WHR systems in this industries. For example in cement industries nearly 30% heat is lost which can be gathered by implementing WHR systems. In addition, it is also used for reducing the raw materials usage by using WHR systems. Also the construction industries are also encouraging the growth for this market. Further, in the petroleum refining WHR systems are being used with a method of Organic Ranking Cycle. Setting up this devices in this respective industries would definitely help in the production process and the usage of energy efficiently.
Key benefits of the report:
Industrial Waste Heat Recovery System Market Report Highlights
Aspects | Details |
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By Application |
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By Region |
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By End-use Industries |
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Key Market Players | Ormat Technologies Inc., ABB Ltd., General Electric Co., Siemens AG, Cool Energy Inc., Thermax Limited, Echogen Power Systems Inc., Amec Foster Wheeler, Mitsubishi Heavy Industries Ltd., Econotherm Ltd. |
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