Promising Future Of P2H Technologies In Decarbonizing The Industrial Process Heat Sector
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 e...