Europe Waste Heat to Power Market Size

Europe Waste Heat to Power Market Size

Europe Waste Heat to Power Market was valued at USD 8.9 billion in 2022 and is projected to grow at a CAGR of over 10.6% from 2023 to 2032. Waste heat to power (WHP) systems are garnering growing attention within energy-intensive industries due to their capacity to reduce carbon emissions and contribute to clean energy endeavours. These systems find prominent End use in industries like cement production, petroleum refining, and heavy metal processing. Ongoing investments in the establishment of new industrial facilities, coupled with the increasing emphasis on energy optimization and management in process industries, have provided additional impetus for the adoption of these systems.

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The continuous drive to bolster domestic manufacturing, combined with a favorable outlook regarding long-term political stability, has heightened the appeal of emerging regions as prime destinations for new investments. This trajectory is expected to persist in the future, leading to a rising demand for electricity from Energy-Intensive Industries (EIIs). Waste Heat to Power (WHP) systems, thanks to their capacity to reduce electricity costs and carbon emissions, are poised to assume a pivotal role in these burgeoning economies.

One of the primary obstacles to the adoption of waste heat to power (WHP) systems is the substantial initial investment needed for the establishment of these plants. Essential components such as boilers, turbines, generators, and associated infrastructure are integral to a WHP plant, and the cost of these components is significantly influenced by the intended capacity of the heat recovery systems.