ORC Industrial Waste Heat to Power Market 2022: Top Trends & Growth Analysis To 2027
ORC industrial waste heat to power industry share will grow at a promising rate with rising concerns regarding the harmful effects of businesses on the environment.
Global ORC industrial waste heat to power industry share will grow at a promising rate with rising concerns regarding the harmful effects of businesses on the environment. Many organizations are taking important steps towards making efficient use of the waste heat generated during heavy-duty production processes.
Governments across the world are laying down stringent norms and policies to decrease carbon emission levels and encourage manufacturing companies to look for eco-friendly ways of generating electricity. Organic Rankine Cycle (ORC) systems are gaining popularity among end-use industries as they can produce power from low to medium temperature heat sources. These machines not only provide a cost-effective way of generating electricity, but also enable the exploitation of low-grade heat which would otherwise go waste.
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It is anticipated that global ORC industrial waste heat to power industry will observe a total installation of more than 750 MW by 2027. Following are some of the top trends affecting the industry forecast:
- Europe ORC industrial WHP market size expands:
Europe ORC industrial WHP market outlook will remain positive due to the large-scale industrialization activities carried out across the region. Many reputed companies from different end-use industry verticals are setting up their manufacturing base in Europe, which has automatically increased the volume of waste heat being generated.
With the regional governments introducing stringent laws and policies with respect to energy efficiency and reduction in carbon emission levels, the demand for ORC industrial WHP systems will rise. Recent product launches by companies will further enhance the overall adoption rate.
For example, in April 2022, Swedish firm Alfa Laval launched E-PowerPack, a self-contained solution that can produce power from different heat sources onboard ships with the help of the ORC technology. The solution will also reduce CO2 emissions and fuel consumption rate significantly.
- Demand for clean energy sources rise:
Many methods that are currently used to produce power are not only putting immense pressure on natural resources, but also causing a serious uptick in the overall carbon emission levels. This scenario has prompted industrial and commercial clients to seek eco-friendly alternatives of generating electricity. Governments are formulating various rules and regulations to promote the use of green sources of energy and encourage organizations to adopt sustainable power generation practices.
For instance, the European Commission, through its Interreg Central Europe Program, recently announced the launch of CE HEAT project, which will help streamline the development of projects that reuse industrial waste heat. Such initiatives will fuel the demand for ORC industrial waste heat to power (WHP) systems.
- Glass industry will extensively use ORC industrial WHP solutions:
The glass sector applications will capture a sizeable share of global ORC industrial waste heat to power market by 2027. A glass manufacturing plant generates large quantities of heat, especially during the melting and molding processes.
This also results in the creation of waste heat. As per statistics published by the Interreg Central Europe Program, nearly 80% of the primary energy is wasted, while electricity costs account for around 25% of the overall production costs. This factor will drive the adoption of ORC systems because they produce electricity from waste heat even if the flow of hot gases is not continuous, with the temperature of these gases touching 300 degree Celsius or lower.
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Global ORC industrial waste heat to power (WHP) industry will showcase commendable progress over the coming years due to the rising awareness regarding waste heat recovery technologies. Government initiatives and introduction of innovative solutions by organizations will propel the use of ORC industrial WHP systems. Ormat Technology, Kaishan USA, IHI Corporation, Turboden S.p.A, Strebl Energy Pvt Ltd., Durr Group, and TransPacific Energy Inc., among many others, are the top developers of ORC industrial WHP technologies.
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