Cement Waste Heat Recovery System Market - By Application (Pre-Heating, Electricity & Steam Generation), By Temperature (<230°C, 230°C - 650 °C, >650 °C), Growth Forecast 2024 – 2032

Cement Waste Heat Recovery System Market Size

Cement Waste Heat Recovery System Market size was valued at USD 15.2 billion in 2023 and will further rise with CAGR of 7.8% from 2024 to 2032. Increasing focus on sustainability and energy efficiency along with cement production being energy-intensive, the market has gained traction to reduce energy costs and lower carbon emissions. Frequent government initiatives coupled with agreements between market players are also resulting in the increasing product demand.
 

For instance, in February 2021, Siemens Energy inked a deal to construct a waste heat-to-power facility in Canada, converting gas turbine waste heat into emission-free power using supercritical carbon dioxide (sCO2), aiming to power over 10,000 homes and reduce greenhouse gas emissions by 44,000 tons annually.
 

Government regulations and incentives promoting the adoption of waste heat recovery systems have also contributed to the market's growth. Moreover, market is expected to continue expanding as cement manufacturers seek innovative ways to reduce their environmental footprint and enhance operational efficiency.
 

Cement Waste Heat Recovery System Market Trends

The market is experiencing a surge in the adoption of advanced technologies including steam rankine cycle and organic rankine cycle offering superior efficiency in converting waste heat into usable energy, thus shaping the market landscape. Moreover, the integration of digitalization and automation solutions aimed at optimizing performance allows for real-time monitoring and predictive maintenance, further driving market growth.
 

Growing emphasis among cement manufacturers, technology providers, and government agencies on innovation and expanding solutions within the market is further adding to the market growth. For instance, in April 2023 when Climeon installed its HeatPower 150 system at the Rhodesia power plant in Nottinghamshire, UK. This system generated 10 MW of low-carbon power using gas engines. Not only does this project enhance energy efficiency, but it also incorporates carbon capture technology, aligning with the UK's clean energy goals.
 

Cement Waste Heat Recovery System Market Analysis

Based on application, the industry is segmented into pre-heating & electricity & steam generation. The market is dominated by electricity and steam generation, which is expected to surpass USD 16 billion by 2032. These are versatile forms of energy widely used in various industrial processes, making them highly sought-after outputs from waste heat recovery systems. Moreover, harnessing waste heat for electricity or steam generation in cement plants reduces conventional energy consumption, cutting costs and carbon emissions.
 

Based on temperature the cement waste heat recovery system market is segregated into <230°C, 230°C - 650 °C, >650 °C. >650 °C is predicted to grow over a CAGR of 7.5% by 2032, propelled by high-grade waste heat emittion from cement kilns, which are essential components of cement production processes. In addition, well-established and widely available, ORC and Kalina Cycle systems efficiently harness waste heat above 650°C, providing reliable solutions for cement manufacturers.
 

Asia Pacific influences the market which is projected to grow over USD 14.5 billion by 2032, soared by rapid urbanization, infrastructure development, and industrialization across countries like China, India, and Southeast Asian nations. Additionally, governments enforce regulations and incentivize sustainability, driving cement manufacturers to invest for emission reduction and energy efficiency. For instance, in April 2022, Climeon's HeatPower introduced 300 Marine, a next-gen WHR technology, generates 355 kW of carbon-free power from waste heat in harsh marine environments, reducing fuel consumption, and aiding regulatory compliance, it offers shipowners a durable, cost-efficient solution.
 

North America's cement waste heat recovery market is gaining momentum driven by sustainability goals and environmental regulations. Initiatives in the US and Canada incentivize adoption, spurring technological advancements. Moreover, cement manufacturers, aiming to reduce emissions and enhance efficiency, increasingly embrace waste heat recovery solutions complementing the North America waste heat recovery systems industry outlook.
 

Cement Waste Heat Recovery Systems Company Market Share

Siemens, Bosch, Cochran, Climeon, HRS collectively accounts for a significant share in the overall cement waste heat recovery systems market offering highly efficient product tailored to the specific needs of cement plants, helping them reduce energy consumption, lower emissions, and improve overall operational efficiency. Their innovative solutions and extensive experience cater to industry needs, driving market dominance and shaping industry standards.
 

Cement Waste Heat Recovery System Market Companies

Some of the key market players operating across the cement waste heat recovery system industry are:

• AURA
• Bosch Industriekessel GmbH
• Climeon
• CTP TEAM S.R.L
• Cochran
• Forbes Marshall
• IHI Corporation
• John Wood Group PLC
• Kawasaki Heavy Industries, Ltd.
• MITSUBISHI HEAVY INDUSTRIES, LTD.
• Promec Engineering
• Sofinter S.p.a
• Siemens Energy
• Turboden S.p.A.
• Thermax Limited
   

Cement Waste Heat Recovery System Industry News

• In February 2024, Mitsubishi Heavy Industries (MHI) has contracted Worley to collaborate on a carbon capture project at its Padeswood cement plant in Flintshire. The project aims to capture 800,000 tons/year of CO2 using MHI’s Advanced KM CDR process, with operational launch planned by 2028 following a pre-FEED study conducted in 2022.
   
• In September 2021, an ICRA report confirmed, cement companies plan to invest Rs 1,700 crore by March 2022 for 175 MW of WHRS capacities to reduce power costs. With each MW requiring Rs 8-10 crore, total investments amount to Rs 1,400-1,700 crore for FY21-FY22. WHRS has become a cost-effective renewable energy source, gaining momentum recently.
   

Cement waste heat recovery system market research report includes an in–depth coverage of the industry with estimates & forecast in terms of revenue in ‘USD billion’ from 2021 to 2032, for the following segments:

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Market, By Application, 2021 to 2032, (USD Billion)

• Pre-Heating
• Electricity & Steam Generation
  • Steam Rankine Cycle
  • Organic Rankine Cycle
  • Kalina Cycle
• Other

Market, By Temperature, 2021 to 2032, (USD Billion)

• < 230°C
• 230°C - 650 °C
• > 650 °C

The above information has been provided for the following regions and countries:

• North America
  • U.S.
  • Canada
  • Mexico
• Europe
  • Germany
  • UK
  • France
  • Italy
  • Spain
• Aisa Pacific
  • China
  • Australia
  • India
  • Japan
  • South Korea
• Middle East & Africa
  • Saudi Arabia
  • UAE
  • South Africa
• Latin America
  • Brazil
  • Argentina