Global Waste Heat to Power Market: Overview
Waste heat to power is the process of capturing heat discarded by an existing industrial process and using that heat to generate power. Energy-intensive industrial processes released hot exhaust gases and waste streams. These processes can be harnessed with well-established technologies to generate electricity.
A report by Transparency Market Research on the global waste heat to power market discusses the prospects and growth pace of the market in detail. This report gives information about the competitive dynamics by factoring in the strengths and weaknesses of prominent participants, their degree of competition among them, and key products in the market.
Global Waste Heat to Power Market: Drivers & Restraints
Resurgent economic growth along with rapid industrialization across key nations will drive the global waste heat to power market growth. Supportive policies coupled with government spending towards infrastructure development will further promote expansion of Energy Intensive Industries (EIIs). Furthermore, rising focus to reduce the overall operational cost of industries will increase the use of waste heat in power units. Furthermore, growing initiatives aimed at reducing the carbon footprint coupled with government policies favoring adoption of energy efficient systems will stimulate the product penetration in unexplored areas.
Waste heat to power units have found significant applications in petroleum refining, heavy metal production, cement, chemical and glass industries. Escalating demand for continuous and reliable electricity along with increasing focus towards energy optimization will increase the product consumption. Moreover, the expanding chemical industry along with stricter emission norms will shoot up the usage of waste heat to power systems across industries.
Increased focus toward heat recovery and utilization from industrial waste streams will fuel the global waste heat to power market growth. The waste heat to power systems are increasingly gaining prominence across energy-intensive industries owing to their ability to minimize carbon footprints and support clean energy initiatives. Escalating electricity demand and volatile fuel prices will further favor the global waste heat to power market..
Global Waste Heat to Power Market: Geographical Outlook
The global waste heat to power market is witnessing a steady growth in different regions around the world. Geographically, North America market is set to dominate the global waste heat to power market during the forecast period. Positive outlook toward industrial sector’s growth along with government policies supporting industrialization efforts will propel the business. Robust expansion across the manufacturing sector on account of increased domestic demand is set to fuel the product’s demand. The market is mainly expanding on the back of growth and expansion of energy intensive industries in the region.
Global Waste Heat to Power Market: Competitive Landscape
Companies such as Bosch Thermotechnology, IHI Corporation, Forbes Marshall Private, Siemens, and AMEC Foster Wheeler among others, enjoy a strong hold in the global waste heat to power market. The market is currently witnessing fierce competition among several leading players.
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
- Insights and Tools based on data-driven research
- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.
Below is a snapshot of these quadrants.
1. Customer Experience Map
The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
2. Insights and Tools
The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.
3. Actionable Results
The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.
4. Strategic Frameworks
The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.
The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
9. What are some of the value-grab opportunities in various segments?
10. What will be the barrier to entry for new players in the market?
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.