Electricity & Steam Generation Cement Waste Heat Recovery System Market Size - By Technology (Steam Rankine Cycle, Organic Rankine Cycle), By Temperature (<230°C, 230°C - 650 °C, >650 °C), Regional Outlook & Growth Forecast, 2024 – 2032

Electricity & Steam Generation Cement Waste Heat Recovery System Market Size

Electricity & Steam Generation Cement Waste Heat Recovery System Market was valued at USD 7.8 billion in 2023 and is set to observe around 8.8% CAGR between 2024 and 2032. Increasing focus on energy efficiency & sustainability along with rising technological advancements by the adoption of organic rankine cycle & kalina cycle will complement the business scenario. Frequent government initiatives and partnerships between market players are driving the rising demand for waste heat recovery systems.
 

Government regulations and incentives encouraging the adoption of waste heat recovery systems have significantly contributed to market growth. Furthermore, the market is anticipated to keep expanding as cement manufacturers pursue innovative methods to reduce their environmental footprint and improve operational efficiency.
 

Electricity & Steam Generation Cement Waste Heat Recovery System Market Trends

The WHRS market in the cement industry using electricity & steam generation is poised for growth, driven by technological advancements, regulatory support, and the global push towards energy efficiency and sustainability. Continued innovation and strategic investments will be key to overcoming challenges and maximizing the benefits of waste heat recovery systems.
 

The increasing focus on innovation and expanding solutions among cement manufacturers, technology providers, and government agencies is further driving market growth. For example, in April 2023, 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. In addition to improving energy efficiency, the project also incorporates carbon capture technology, supporting the UK's clean energy objectives.
 

Electricity & Steam Generation Cement Waste Heat Recovery System Market Analysis

Based on technology, the SRC technology is expected to surpass USD 12.1 billion by 2032. While ORC technology is increasingly adopted due to its efficiency in converting low-temperature heat into electricity. It uses organic fluids with a lower boiling point than water, making it suitable for waste heat recovery. In addition, kalina cycle technology uses a mixture of water and ammonia, allowing more efficient heat recovery across a wider temperature range compared to traditional steam Rankine cycles.
 

The >650°C segment is expected to grow at a CAGR of over 8.5% throghh 2032, driven by the high-grade waste heat emissions from cement kilns, which are critical components in cement production processes. Additionally, well-established and widely available ORC and Kalina Cycle systems efficiently harness waste heat above 650°C, offering reliable solutions for cement manufacturers.
 

Asia Pacific electricity & steam generation cement waste heat recovery system market is projected to exceed USD 8 billion by 2032. This growth is fuelled by rapid urbanization, infrastructure development, and industrialization in countries such as China, India, and Southeast Asian nations. In addition, government regulations and incentives promoting sustainability are encouraging cement manufacturers to invest in emission reduction and energy efficiency.
 

North America's electricity & steam generation cement waste heat recovery market is gaining momentum due to sustainability goals and environmental regulations. Initiatives in the US and Canada incentivize adoption, driving technological advancements. Additionally, cement manufacturers aiming to reduce emissions and improve efficiency are increasingly adopting waste heat recovery solutions, enhancing the outlook for the waste heat recovery systems industry in North America.
 

Electricity & Steam Generation Cement Waste Heat Recovery System Market Share

Bosch, Climeon, Cochran, Siemens, and HRS collectively hold a significant share in the overall electricity and steam generation cement waste heat recovery systems market. They offer highly efficient products tailored to the specific needs of cement plants, helping to reduce energy consumption, lower emissions, and improve overall operational efficiency. Their innovative solutions and extensive experience meet industry demands, driving market dominance and shaping industry standards.
 

Electricity & Steam Generation Cement Waste Heat Recovery System Market Companies

Major key players operating across the electricity & steam generation cement waste heat recovery system industry are:

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

Electricity & Steam Generation Cement Waste Heat Recovery System Industry News

• In July 2024, Unacem announced a USD 300 million investment to reduce its carbon footprint by 2030. This initiative will boost the deployment of waste heat recovery systems in cement-intensive industries across Peru, in turn contributing to market growth.
   
• 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.
   

This electricity & steam generation 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

• Steam Rankine Cycle
• Organic Rankine Cycle
• Kalina Cycle

Market, By Temperature

• < 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