Dublin, April 21, 2022 (GLOBE NEWSWIRE) -- The "Industrial Electrification Growth Opportunities" report has been added to ResearchAndMarkets.com's offering.
This study presents a detailed analysis of the electrification of the industry sector, which includes a thorough introduction to the industrial sector and the established thermal processes across different industrial segments.
Notably, the study presents other electrification technologies and their application across various industries in detail.
The study also shows a detailed regional analysis of strategies for the electrification of sectors. Lastly, a roadmap for electrification of hard to abate industries, including steel, cement, chemicals and petrochemicals, are presented.
Continued concerns over global warming and increasing CO2 levels in our atmosphere undoubtedly transform how we generate, consume, and distribute energy. Governments worldwide are grappling for solutions to mitigate climate change and pave a pathway towards decarbonization. Our transition towards a sustainable future depends on developing alternative energy sources that are renewable and environment friendly.
Since 2010, industrial carbon emissions have continued to increase compared to other segments (energy sector, transport, buildings and agriculture, forestry and other land uses). Currently, industrial CO2 emissions represent an average of 29% of the global CO2 emissions during an average year.
The industrial sector largely depends on fossil fuels to meet their energy demand. Heat makes up two-thirds of industrial energy demand across all industrial processes and almost one-fifth of global energy consumption, almost entirely powered by fossil fuels.
Decarbonization of the industrial sector thus requires replacing the fossil fuel-based heating systems. However, this change is difficult across many industrial segments (steel, cement and other metals). Those industrial processes require high temperatures, which can be attained only using a fossil-fuel-based system.
To decarbonize the industrial segment, electrification of industrial processes is a promising alternative. It enables high process temperatures to be achieved in a tailor-made and efficient way and allows the utilization of RES. Electrification can be defined as the adoption of electricity-based technologies that replace technologies currently fuelled by non-electric sources, typically fossil fuels.
The development of electrification technologies, including electric heat pumps, boilers, and furnaces powered by RES, can reduce emissions from the industrial sector.
In addition, electrification of industrial processes also enables a reduction in final energy use and has social and economic benefits, including a reduction in local air pollution, water consumption reduction and optimized production processes. Depending on the application, certain electrification technologies are commercially available, while others are still in development stages.
Concerning grid operations, electrification of the industry sector would mean increased pressure and load on the system. Increased industrial electrification would enable grid investments to expand electricity transmission and distribution networks.
In addition, it would also lead to the development of aggressive and sustained supportive policies supporting research & development, demonstration, and new electrification technologies to run intensive thermal processes and meet net-zero carbon emissions goals.
Key Topics Covered:
Strategic Imperatives
- Why is it Increasingly Difficult to Grow?
- The Strategic Imperative
- The Impact of the Top Three Strategic Imperatives on the Electrification Industries
- Growth Opportunities Fuel the Growth Pipeline Engine
Growth Opportunity Analysis - Industrial Electrification Market
- Key Findings
- Industrial Electrification Scope of Analysis
- Geographical Scope
- Analysis by Electrification Heating Technology
- Analysis by Hard to Abate Industries
- Key Questions This Study Will Answer
- Industry Mega Trends - Global Pathway Toward Decarbonization
- Global Emissions From Industries
- Electrification of Industrial Processes
- Growth Drivers for Industrial Electrification
- Growth Restraints for Industrial Electrification
- Key Benefits of Industrial Electrification
- How Can the Industrial Sector be Electrified?
- Where are the Best Prospects for Industrial Electrification?
Electrification Technologies
- Industrial Electrification Technologies
- Industrial Heat Pumps
- Electromagnetic Heating Technologies
- Electric Resistance Heating
- Electric Arc Heating
- Summary of Electrification Technologies, Applications and TRL
- Industrial Electrification Technologies Ecosystem
Electrification of Industries - Roadmap
- Key Strategies to Accelerate Electrification of Industry
- Electrification of Industries - Roadmap
- Electrification of the Iron and Steel Industry
- Electrification of the Iron & Steel Industry - Case Study
- Electrification of the Iron and Steel Industry - Roadmap
- Electrification of the Cement Industry
- Electrification of the Cement Industry - Case Study
- Electrification of the Cement Industry - Roadmap
- Electrification of the Chemicals and Petrochemicals Industry
- Electrification of the Chemicals and Petrochemicals Industry - Case Study
- Electrification of the Chemicals and Petrochemicals Industry - Roadmap
- Electrification of LNG
- Electrification's Impact on Gas Turbines
- Electrification of LNG - Roadmap
- Electrification of Offshore Oil and Gas Platforms
- Electrification of Offshore Oil and Gas Platforms - Roadmap
- Summary of Electrification Pathways for Hard-to-abate Industries
Regional Analysis
- North America Analysis
- Europe Analysis
- Asia-Pacific Analysis
- Latin American Analysis
- The Middle East and Africa Analysis
Growth Opportunity Universe - Industrial Electrification Market
- Growth Opportunity 1: Mergers, Collaborations, and Partnerships to Drive R&D of Novel Electrification Technologies
- Growth Opportunity 2: Increase in DER and BESS Integration to Drive the Adoption of Electrification Technologies
- Growth Opportunity 3: Growth of VPP and DR Regulates Electricity Usage and Accelerates the Adoption of Electrification
- Growth Opportunity 4: Connected Digital Hub Creates Faster Route to Net Zero
- Growth Opportunity 5: New Service Model for Utilities and ESCOs will Reduce the Load on Utilities Due to Electrification
Appendix - Technology Readiness Level (TRL)
For more information about this report visit https://www.researchandmarkets.com/r/ku61hq
