
Waste Heat To Power Whp Market
Waste Heat to Power (WHP) Market Forecasts to 2030 - Global Analysis By Source (Industrial Waste Heat, Power Plant Waste Heat, Data Center Waste Heat, Petrochemical Waste Heat and Other Waste Heat Sources), Technology, Temperature Range, Application, End User and By Geography

According to Stratistics MRC, the Global Waste Heat to Power (WHP) Market is accounted for $28.42 billion in 2024 and is expected to reach $58.55 billion by 2030 growing at a CAGR of 12.8% during the forecast period. The process of collecting waste heat produced by industrial operations and turning it into electricity without the need for additional fuel is known as waste heat to power, or WHP. WHP systems recuperate heat from sources including steam, exhaust gases, or hot fluids in steel, cement, and chemical industries. WHP converts waste heat into a useful energy resource, reducing energy waste, increasing efficiency, lowering carbon emissions, and supporting sustainability through the use of technologies like Steam Rankine Cycle (SRC), Organic Rankine Cycle (ORC), or Kalina Cycle.
According to the United Nations Department of Economic and Social Affairs, a US-Based intergovernmental organization, 56.9% of the world’s population resided in urban regions in 2023 and it is projected to rise to 68% by 2050.
Market Dynamics:
Driver:
Growing demand for sustainable energy
As organizations seek environmentally friendly methods to cut down on energy waste and carbon emissions, the industry is being driven by the growing demand for sustainable energy. Waste heat from industrial processes can be converted into power with WHP systems, increasing energy efficiency without using more fuel. WHP systems are being adopted by industries including steel, cement, and chemicals more frequently as a result of international programs focusing on clean energy transitions and stringent environmental restrictions. This technology is a crucial part of the contemporary energy environment because it not only helps achieve sustainability goals but also saves money by lowering reliance on traditional energy sources.
Restraint:
Fluctuating waste heat availability
An intermittent heat source can cause WHP systems to operate less steadily, which lowers overall efficiency and energy output. The systems might not produce enough electricity to cover the original investment expenses, which could have an effect on the WHP projects' economic sustainability. Furthermore, the system components may experience thermal stress as a result of varying heat input, which could shorten their lifespan and increase maintenance needs. Advanced control systems and energy storage options can be used to maximize WHP system performance and minimize these negative impacts, guaranteeing steady power generation even when waste heat availability fluctuates.
Opportunity:
Government incentives and subsidies
The adoption of Waste Heat to Power (WHP) technologies is significantly influenced by government subsidies and incentives. These funding sources have the potential to drastically lower firms' initial investment costs, increasing the economic appeal of WHP projects. Governments frequently provide incentives like as capital grants, feed-in tariffs, and tax reductions. Furthermore, WHP can benefit from legislative frameworks that support renewable energy and energy efficiency. The adoption of WHP systems can be accelerated by governments through the creation of supportive legislative frameworks and financial support, which will help create a more sustainable and energy-efficient future.
Threat:
Lack of awareness and education
The deployment of Waste Heat to Power (WHP) technology can be severely hampered by a lack of knowledge and instruction. The potential energy savings and environmental advantages that WHP can provide may not be well known to many industries. This ignorance may result in lost chances to turn waste heat into a useful energy source. Potential investors may also be turned off by a lack of knowledge about the technical difficulties and financial viability of WHP projects. Raising awareness through focused campaigns, workshops, and educational activities is crucial to addressing this problem.
Covid-19 Impact
The COVID-19 pandemic temporarily slowed the Waste Heat to Power (WHP) market due to disrupted supply chains, halted industrial activities, and delayed energy projects. Many industries scaled back operations, reducing waste heat generation and new WHP installations. However, as economies recover, there is renewed focus on energy efficiency and sustainability, driving WHP adoption. Government stimulus packages supporting green energy initiatives have also accelerated market recovery, emphasizing WHP systems as a cost-effective and eco-friendly energy solution post-pandemic.
The industrial waste heat segment is expected to be the largest during the forecast period
The industrial waste heat segment is estimated to be the largest, due to it produces a lot of waste heat during operations like metal smelting, cement production, and chemical production. Rising energy costs and the need for operational efficiency encourage industries to harness waste heat for power generation, reducing energy bills and environmental impact. Strict government regulations on emissions and sustainability goals further push industrial players to adopt WHP technologies, transforming waste heat into a valuable energy resource.
The cement segment is expected to have the highest CAGR during the forecast period
The cement segment is anticipated to witness the highest CAGR during the forecast period, due to its energy-intensive operations that produce substantial waste heat from kilns and preheaters. Rising energy costs and the industry's commitment to reducing greenhouse gas emissions encourage WHP adoption. Stringent environmental regulations and global sustainability goals further propel demand for WHP systems. Additionally, advancements in low-temperature heat recovery technologies and government incentives for energy-efficient practices make WHP a viable solution for cement manufacturers seeking cost savings and sustainability.
Region with largest share:
Asia Pacific is expected to have the largest market share during the forecast period due to rapid industrialization, particularly in countries like China and India, which generate significant waste heat in sectors like cement, steel, and chemicals. Rising energy costs and increasing environmental regulations fuel the demand for energy-efficient solutions. Additionally, government initiatives promoting renewable energy and energy efficiency, along with technological advancements in WHP systems, are accelerating market growth. The region’s focus on sustainability and industrial modernization further boosts WHP adoption.
Region with highest CAGR:
North America is projected to witness the highest CAGR over the forecast period, driven by stringent environmental regulations, rising energy costs, and a strong focus on sustainability. Industrial sectors such as cement, steel, and petrochemicals are major contributors to waste heat generation, prompting the adoption of WHP systems to improve energy efficiency and reduce carbon footprints. Government incentives and tax credits for renewable energy projects further encourage the use of WHP technologies. Additionally, advancements in WHP technologies, such as organic Rankine cycle systems, are enhancing market growth in the region.
Key players in the market
Some of the key players profiled in the Waste Heat to Power (WHP) Market include General Electric Company (GE), Siemens AG, ABB Ltd., Mitsubishi Heavy Industries Ltd., Ormat Technologies, Inc., Thermax Limited, Bosch Thermotechnology GmbH, Durr Group, Turboden S.p.A, Kawasaki Heavy Industries, Ltd., Alfa Laval AB, Echogen Power Systems, LLC, IHI Corporation, ElectraTherm, Inc., MAN Energy Solutions, Triveni Turbine Limited, Siemens Energy, Exergy S.p.A, and Johnson Controls International.
Key Developments:
In March 2023, Climeon unveiled a new waste heat recovery unit, designed to further improve energy efficiency in manufacturing and other high-heat industries.
In March 2023, Energy International launched an advanced heat recovery system in, enhancing efficiency in utilizing low-temperature waste heat for power generation across industrial sectors.
In September 2022, Mitsubishi Heavy Industries introduced a binary power generation system, utilizing organic Rankine cycle (ORC) technology to recover waste heat from sulfur-free fuel-burning engines.
Sources Covered:
• Industrial Waste Heat
• Power Plant Waste Heat
• Data Center Waste Heat
• Petrochemical Waste Heat
• Other Waste Heat Sources
Technologies Covered:
• Steam Rankine Cycle (SRC)
• Organic Rankine Cycle (ORC)
• Kalina Cycle
• Fuel Cells
• Stirling Engine
• Other Technologies
Temperature Ranges Covered:
• High-Temperature Waste Heat
• Medium-Temperature Waste Heat
• Low-Temperature Waste Heat
Applications Covered:
• Industrial Processes
• Electricity Generation
• Space Heating and Cooling
• District Heating
• Cogeneration
• Combined Heat and Power (CHP)
• Other Applications
End Users Covered:
• Cement
• Chemical and Petrochemical
• Oil and Gas Industry
• Food and Beverage Industry
• Metal & Heavy Industries
• Pulp and Paper Industry
• Glass Industry
• Other End Users
Regions Covered:
• North America
o US
o Canada
o Mexico
• Europe
o Germany
o UK
o Italy
o France
o Spain
o Rest of Europe
• Asia Pacific
o Japan
o China
o India
o Australia
o New Zealand
o South Korea
o Rest of Asia Pacific
• South America
o Argentina
o Brazil
o Chile
o Rest of South America
• Middle East & Africa
o Saudi Arabia
o UAE
o Qatar
o South Africa
o Rest of Middle East & Africa
What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2022, 2023, 2024, 2026, and 2030
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements
Free Customization Offerings:
All the customers of this report will be entitled to receive one of the following free customization options:
• Company Profiling
o Comprehensive profiling of additional market players (up to 3)
o SWOT Analysis of key players (up to 3)
• Regional Segmentation
o Market estimations, Forecasts and CAGR of any prominent country as per the client's interest (Note: Depends on feasibility check)
• Competitive Benchmarking
o Benchmarking of key players based on product portfolio, geographical presence, and strategic alliances
Table of Contents
1 Executive Summary
2 Preface
2.1 Abstract
2.2 Stake Holders
2.3 Research Scope
2.4 Research Methodology
2.4.1 Data Mining
2.4.2 Data Analysis
2.4.3 Data Validation
2.4.4 Research Approach
2.5 Research Sources
2.5.1 Primary Research Sources
2.5.2 Secondary Research Sources
2.5.3 Assumptions
3 Market Trend Analysis
3.1 Introduction
3.2 Drivers
3.3 Restraints
3.4 Opportunities
3.5 Threats
3.6 Technology Analysis
3.7 Application Analysis
3.8 End User Analysis
3.9 Emerging Markets
3.10 Impact of Covid-19
4 Porters Five Force Analysis
4.1 Bargaining power of suppliers
4.2 Bargaining power of buyers
4.3 Threat of substitutes
4.4 Threat of new entrants
4.5 Competitive rivalry
5 Global Waste Heat to Power (WHP) Market, By Source
5.1 Introduction
5.2 Industrial Waste Heat
5.3 Power Plant Waste Heat
5.4 Data Center Waste Heat
5.5 Petrochemical Waste Heat
5.6 Other Waste Heat Sources
6 Global Waste Heat to Power (WHP) Market, By Technology
6.1 Introduction
6.2 Steam Rankine Cycle (SRC)
6.3 Organic Rankine Cycle (ORC)
6.4 Kalina Cycle
6.5 Fuel Cells
6.6 Stirling Engine
6.7 Other Technologies
7 Global Waste Heat to Power (WHP) Market, By Temperature Range
7.1 Introduction
7.2 High-Temperature Waste Heat
7.3 Medium-Temperature Waste Heat
7.4 Low-Temperature Waste Heat
8 Global Waste Heat to Power (WHP) Market, By Application
8.1 Introduction
8.2 Industrial Processes
8.3 Electricity Generation
8.4 Space Heating and Cooling
8.5 District Heating
8.6 Cogeneration
8.7 Combined Heat and Power (CHP)
8.8 Other Applications
9 Global Waste Heat to Power (WHP) Market, By End User
9.1 Introduction
9.2 Cement
9.3 Chemical and Petrochemical
9.4 Oil and Gas Industry
9.5 Food and Beverage Industry
9.6 Metal & Heavy Industries
9.7 Pulp and Paper Industry
9.8 Glass Industry
9.9 Other End Users
10 Global Waste Heat to Power (WHP) Market, By Geography
10.1 Introduction
10.2 North America
10.2.1 US
10.2.2 Canada
10.2.3 Mexico
10.3 Europe
10.3.1 Germany
10.3.2 UK
10.3.3 Italy
10.3.4 France
10.3.5 Spain
10.3.6 Rest of Europe
10.4 Asia Pacific
10.4.1 Japan
10.4.2 China
10.4.3 India
10.4.4 Australia
10.4.5 New Zealand
10.4.6 South Korea
10.4.7 Rest of Asia Pacific
10.5 South America
10.5.1 Argentina
10.5.2 Brazil
10.5.3 Chile
10.5.4 Rest of South America
10.6 Middle East & Africa
10.6.1 Saudi Arabia
10.6.2 UAE
10.6.3 Qatar
10.6.4 South Africa
10.6.5 Rest of Middle East & Africa
11 Key Developments
11.1 Agreements, Partnerships, Collaborations and Joint Ventures
11.2 Acquisitions & Mergers
11.3 New Product Launch
11.4 Expansions
11.5 Other Key Strategies
12 Company Profiling
12.1 General Electric Company (GE)
12.2 Siemens AG
12.3 ABB Ltd.
12.4 Mitsubishi Heavy Industries Ltd.
12.5 Ormat Technologies, Inc.
12.6 Thermax Limited
12.7 Bosch Thermotechnology GmbH
12.8 Durr Group
12.9 Turboden S.p.A
12.10 Kawasaki Heavy Industries, Ltd.
12.11 Alfa Laval AB
12.12 Echogen Power Systems, LLC
12.13 IHI Corporation
12.14 ElectraTherm, Inc.
12.15 MAN Energy Solutions
12.16 Triveni Turbine Limited
12.17 Siemens Energy
12.18 Exergy S.p.A
12.19 Johnson Controls International
List of Tables
1 Global Waste Heat to Power (WHP) Market Outlook, By Region (2022-2030) ($MN)
2 Global Waste Heat to Power (WHP) Market Outlook, By Source (2022-2030) ($MN)
3 Global Waste Heat to Power (WHP) Market Outlook, By Industrial Waste Heat (2022-2030) ($MN)
4 Global Waste Heat to Power (WHP) Market Outlook, By Power Plant Waste Heat (2022-2030) ($MN)
5 Global Waste Heat to Power (WHP) Market Outlook, By Data Center Waste Heat (2022-2030) ($MN)
6 Global Waste Heat to Power (WHP) Market Outlook, By Petrochemical Waste Heat (2022-2030) ($MN)
7 Global Waste Heat to Power (WHP) Market Outlook, By Other Waste Heat Sources (2022-2030) ($MN)
8 Global Waste Heat to Power (WHP) Market Outlook, By Technology (2022-2030) ($MN)
9 Global Waste Heat to Power (WHP) Market Outlook, By Steam Rankine Cycle (SRC) (2022-2030) ($MN)
10 Global Waste Heat to Power (WHP) Market Outlook, By Organic Rankine Cycle (ORC) (2022-2030) ($MN)
11 Global Waste Heat to Power (WHP) Market Outlook, By Kalina Cycle (2022-2030) ($MN)
12 Global Waste Heat to Power (WHP) Market Outlook, By Fuel Cells (2022-2030) ($MN)
13 Global Waste Heat to Power (WHP) Market Outlook, By Stirling Engine (2022-2030) ($MN)
14 Global Waste Heat to Power (WHP) Market Outlook, By Other Technologies (2022-2030) ($MN)
15 Global Waste Heat to Power (WHP) Market Outlook, By Temperature Range (2022-2030) ($MN)
16 Global Waste Heat to Power (WHP) Market Outlook, By High-Temperature Waste Heat (2022-2030) ($MN)
17 Global Waste Heat to Power (WHP) Market Outlook, By Medium-Temperature Waste Heat (2022-2030) ($MN)
18 Global Waste Heat to Power (WHP) Market Outlook, By Low-Temperature Waste Heat (2022-2030) ($MN)
19 Global Waste Heat to Power (WHP) Market Outlook, By Application (2022-2030) ($MN)
20 Global Waste Heat to Power (WHP) Market Outlook, By Industrial Processes (2022-2030) ($MN)
21 Global Waste Heat to Power (WHP) Market Outlook, By Electricity Generation (2022-2030) ($MN)
22 Global Waste Heat to Power (WHP) Market Outlook, By Space Heating and Cooling (2022-2030) ($MN)
23 Global Waste Heat to Power (WHP) Market Outlook, By District Heating (2022-2030) ($MN)
24 Global Waste Heat to Power (WHP) Market Outlook, By Cogeneration (2022-2030) ($MN)
25 Global Waste Heat to Power (WHP) Market Outlook, By Combined Heat and Power (CHP) (2022-2030) ($MN)
26 Global Waste Heat to Power (WHP) Market Outlook, By Other Applications (2022-2030) ($MN)
27 Global Waste Heat to Power (WHP) Market Outlook, By End User (2022-2030) ($MN)
28 Global Waste Heat to Power (WHP) Market Outlook, By Cement (2022-2030) ($MN)
29 Global Waste Heat to Power (WHP) Market Outlook, By Chemical and Petrochemical (2022-2030) ($MN)
30 Global Waste Heat to Power (WHP) Market Outlook, By Oil and Gas Industry (2022-2030) ($MN)
31 Global Waste Heat to Power (WHP) Market Outlook, By Food and Beverage Industry (2022-2030) ($MN)
32 Global Waste Heat to Power (WHP) Market Outlook, By Metal & Heavy Industries (2022-2030) ($MN)
33 Global Waste Heat to Power (WHP) Market Outlook, By Pulp and Paper Industry (2022-2030) ($MN)
34 Global Waste Heat to Power (WHP) Market Outlook, By Glass Industry (2022-2030) ($MN)
35 Global Waste Heat to Power (WHP) Market Outlook, By Other End Users (2022-2030) ($MN)
Note: Tables for North America, Europe, APAC, South America, and Middle East & Africa Regions are also represented in the same manner as above.
List of Figures
RESEARCH METHODOLOGY

We at ‘Stratistics’ opt for an extensive research approach which involves data mining, data validation, and data analysis. The various research sources include in-house repository, secondary research, competitor’s sources, social media research, client internal data, and primary research.
Our team of analysts prefers the most reliable and authenticated data sources in order to perform the comprehensive literature search. With access to most of the authenticated data bases our team highly considers the best mix of information through various sources to obtain extensive and accurate analysis.
Each report takes an average time of a month and a team of 4 industry analysts. The time may vary depending on the scope and data availability of the desired market report. The various parameters used in the market assessment are standardized in order to enhance the data accuracy.
Data Mining
The data is collected from several authenticated, reliable, paid and unpaid sources and is filtered depending on the scope & objective of the research. Our reports repository acts as an added advantage in this procedure. Data gathering from the raw material suppliers, distributors and the manufacturers is performed on a regular basis, this helps in the comprehensive understanding of the products value chain. Apart from the above mentioned sources the data is also collected from the industry consultants to ensure the objective of the study is in the right direction.
Market trends such as technological advancements, regulatory affairs, market dynamics (Drivers, Restraints, Opportunities and Challenges) are obtained from scientific journals, market related national & international associations and organizations.
Data Analysis
From the data that is collected depending on the scope & objective of the research the data is subjected for the analysis. The critical steps that we follow for the data analysis include:
- Product Lifecycle Analysis
- Competitor analysis
- Risk analysis
- Porters Analysis
- PESTEL Analysis
- SWOT Analysis
The data engineering is performed by the core industry experts considering both the Marketing Mix Modeling and the Demand Forecasting. The marketing mix modeling makes use of multiple-regression techniques to predict the optimal mix of marketing variables. Regression factor is based on a number of variables and how they relate to an outcome such as sales or profits.
Data Validation
The data validation is performed by the exhaustive primary research from the expert interviews. This includes telephonic interviews, focus groups, face to face interviews, and questionnaires to validate our research from all aspects. The industry experts we approach come from the leading firms, involved in the supply chain ranging from the suppliers, distributors to the manufacturers and consumers so as to ensure an unbiased analysis.
We are in touch with more than 15,000 industry experts with the right mix of consultants, CEO's, presidents, vice presidents, managers, experts from both supply side and demand side, executives and so on.
The data validation involves the primary research from the industry experts belonging to:
- Leading Companies
- Suppliers & Distributors
- Manufacturers
- Consumers
- Industry/Strategic Consultants
Apart from the data validation the primary research also helps in performing the fill gap research, i.e. providing solutions for the unmet needs of the research which helps in enhancing the reports quality.
For more details about research methodology, kindly write to us at info@strategymrc.com
Frequently Asked Questions
In case of any queries regarding this report, you can contact the customer service by filing the “Inquiry Before Buy” form available on the right hand side. You may also contact us through email: info@strategymrc.com or phone: +1-301-202-5929
Yes, the samples are available for all the published reports. You can request them by filling the “Request Sample” option available in this page.
Yes, you can request a sample with your specific requirements. All the customized samples will be provided as per the requirement with the real data masked.
All our reports are available in Digital PDF format. In case if you require them in any other formats, such as PPT, Excel etc you can submit a request through “Inquiry Before Buy” form available on the right hand side. You may also contact us through email: info@strategymrc.com or phone: +1-301-202-5929
We offer a free 15% customization with every purchase. This requirement can be fulfilled for both pre and post sale. You may send your customization requirements through email at info@strategymrc.com or call us on +1-301-202-5929.
We have 3 different licensing options available in electronic format.
- Single User Licence: Allows one person, typically the buyer, to have access to the ordered product. The ordered product cannot be distributed to anyone else.
- 2-5 User Licence: Allows the ordered product to be shared among a maximum of 5 people within your organisation.
- Corporate License: Allows the product to be shared among all employees of your organisation regardless of their geographical location.
All our reports are typically be emailed to you as an attachment.
To order any available report you need to register on our website. The payment can be made either through CCAvenue or PayPal payments gateways which accept all international cards.
We extend our support to 6 months post sale. A post sale customization is also provided to cover your unmet needs in the report.
Request Customization
We provide a free 15% customization on every purchase. This requirement can be fulfilled for both pre and post sale. You may send your customization requirements through email at info@strategymrc.com or call us on +1-301-202-5929.
Note: This customization is absolutely free until it falls under the 15% bracket. If your requirement exceeds this a feasibility check will be performed. Post that, a quote will be provided along with the timelines.
WHY CHOOSE US ?

Assured Quality
Best in class reports with high standard of research integrity

24X7 Research Support
Continuous support to ensure the best customer experience.

Free Customization
Adding more values to your product of interest.

Safe & Secure Access
Providing a secured environment for all online transactions.

Trusted by 600+ Brands
Serving the most reputed brands across the world.