Guest blog by Matt Sweetwood, CEO and Founder of Greener Process Systems
“The global energy crisis is a wakeup call to stop wasting energy,” said Toby Morgan, senior manager for the built environment at Climate Group, an environmental not-for-profit.
Waste Heat Recovery System Market Trends1
The Waste Heat Recovery System Market Overview reveals the increasing utilization of Waste Heat Recovery (WHR) systems in various applications across many industrial sectors. This growth is attributed to strong governmental support for upgrading industrialization, increased urbanization, and the rising demand for energy-efficient equipment. The growing focus on environmental protection and limiting greenhouse gas emissions further boosts the market for waste heat recovery systems.
Waste Heat Recovery System Market Size is expected to reach USD 128.8 Billion by 2030, registering a CAGR of 8.7%, owing to Rising Energy and Electricity Prices in Emerging Economies according to Acumen Research and Consulting.
The United States region is predicted to witness a higher CAGR growth rate due to fast industrialization and growing awareness of sustainable growth through energy-efficient means. Additionally, the arrival of foreign manufacturing enterprises in the region is accelerating the implementation of modern technologies for energy emission management, including WHR systems.
Excess heat produced across Europe could almost power the entire region but preventing this waste is largely being ignored as a solution to the energy crisis, say environmental experts. A report published recently by the global engineering company, Danfoss, estimated that in the EU alone, excess heat was equal to 2,860 TWh a year, almost the same as the EU’s total energy demand for heat and hot water.
Greener Process Systems' Role in Waste Heat Recovery
Greener Process Systems, a Raise Green-listed company, and a leading provider of chemical process engineering services and systems, is well-positioned to capitalize on the rapidly expanding Waste Heat Recovery (WHR) system market due to its energy-efficient solutions. The company's patented technology, which seals the stack of industrial plants, enables businesses to generate revenue through WHR while reducing operational costs and managing emission levels.
“We believe that the rising cost of electricity and the increasing demand for alternative energy sources will continue to expand the need for waste heat recovery, and Greener is uniquely positioned, with our patented technology, to gain a significant share of the rapidly growing WHR market, ” says Greener CEO, Matt Sweetwood.
To learn more about Greener Process Systems or to learn how to invest, visit Greener Process System's, Raise Green page.