Ocean View, Delaware, Sept. 07, 2017 (GLOBE NEWSWIRE) --
Waste Heat To Power Market ---> share to reach USD 30 billion by 2024, as reported in the latest study by Global Market Insights, Inc.
Growing measures to reduce the energy bills by residual heat utilization will drive the waste heat to power market size.
Volatile fuel prices along with rising electricity demand will further influence the industry growth. In 2016, according to the U.S energy information administration, industrial and commercial sector consumed approximately 4,450 trillion British thermal unit energy.
Rapid industrialization along with ---> rising focus to reduce overall operational cost of industries will propel the waste heat to power market share.
Increasing installations of heating units across industrial and utility applications coupled with ongoing measures towards energy conservation will further complement the business landscape.
Heavy metal applications in predicted to witness gain over 12% by 2024. Industries effort to meet their rising energy demand by residual heat utilization along with growing investments toward infrastructure establishment will fuel the waste heat to power market.
Implementation of these systems will decrease the overall operational cost, which will enhance the product demand over the forecast timeframe.
The U.S waste heat to power market share will grow on account of growing measures toward utilization of waste thermal energy to produce electricity. Government mandate toward emissions for industrial facilities will further stimulate the product penetration.
In
2013, the U.S. Department of Energy (DOE) granted USD 1 million to Cool Energy, Inc.(CEI) for supporting R & D on a 20-kW waste heat Stirling engine generator to generate electricity.
Glass applications in 2016 accounted for over 8% of the global waste heat to power market share.
Increasing demand for flat glass from automotive and infrastructural sector along with increasing industries focus towards energy conservation will augment the product demand.