Power-to-heat (P2H) is one of the most recent growing trends (energy transition) in the high-temperature (>500°C) industrial segment space, and it refers to a system of heat pumps or boilers that transform electric power into effective heating or cooling. The global energy crisis and the policies promoting net zero coalition will likely soar the demand for P2H equipment. Also, the autonomous intergovernmental organization, IEA, has projected that the accelerated adoption of heat pumps can reduce global carbon dioxide (CO2) emissions by at least 500 million tonnes in 2030.
Market Dynamics of P2H Technology Equipment
Industrial process heating consumes over 28% of the world’s energy; thus, we can foresee the electrification of industrial equipment as a big opportunity for manufacturing companies to improve efficiency and lower their carbon footprint. By electrifying production processes, businesses might dramatically reduce carbon emissions by using fewer fossil fuels, boost the efficiency of systems and devices, and enable businesses to employ renewable energy to achieve sustainability goals. It is estimated that the use of electric heating systems at elevated temperatures will more than double between 2021 and 2030. The adoption rate of electric heating systems is surging, as financial incentives for heat pumps are already available in over thirty countries, covering more than 70% of heating demand today. Furthermore, by 2050, it is predicted that the amount of fossil fuels utilized in high-temperature heating systems would have fallen by nearly 80%. Firms should produce renewable energy on-site and use it in heat pumps and other electric heating systems to meet their sustainability goals.
Practical Applications of P2H Technologies
P2H Technologies offers wide-ranging applications across various industrial segments, including drying, cooling & refrigeration, hot water & low-pressure steam, hydrogen-based direct reduced iron, smelting, paint curing, plastic treatment, metal melting, glass melting, calcination, sintering, metal treatment, and cement production.
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