The organic rankine cycle (ORC) uses waste heat to effectively convert the thermal energy of gases or liquids into carbon-neutral power. Geothermal energy or commercial or industrial waste heat is used to produce heat. Using waste heat from the organic rankine cycle (ORC) to generate electricity enables businesses to increase their output in response to the rising demand. Numerous large-scale businesses use organic rankine cycle (ORC) technology to generate power from waste heat recovery, which reduces the amount of fuel used for power generation.
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Data Bridge Market Research analyses that the Organic Rankine Cycle (ORC) Waste Heat to Power Market is expected to reach the value of USD 3,637,069.31 thousand by 2029, at a CAGR of 8.6% during the forecast period. Many governments worldwide are implementing policies and providing financial incentives to promote the adoption of renewable energy technologies. Supportive regulations, feed-in tariffs, tax incentives, and grants for ORC projects encourage investment in this technology, driving its market growth.
Key Findings of the Study
Increasing Industrialization is expected to drive the market's growth rate
With increasing industrialization globally, the generation of waste heat has surged. Organic Rankine Cycle (ORC) systems provide an effective solution to capture this waste heat and convert it into electricity. This makes ORC a compelling choice for industrial sectors aiming for sustainable energy solutions. Utilizing ORC technology, industries can reduce their reliance on traditional energy sources, decrease emissions, and improve overall energy efficiency.
Report Scope and Market Segmentation
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Report Metric
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Details
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Forecast Period
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2022 to 2029
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Base Year
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2021
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Historic Years
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2020 (Customizable to 2014-2019)
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Quantitative Units
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Revenue in USD Thousand, Volumes in Units, Pricing in USD
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Segments Covered
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Size (Small, Medium, Large), Capacity (Less Than 1000 kW, 1001-4000 kW, 4001-7000 kW, More than 7000 kW), Model (Steady-State, Dynamic), Application (ICE or Gas Turbine, Waste to Energy, Metal Production, Cement and Lime Industry, Glass Industry, Petroleum Refining, Chemical Industry, Landfill ICE, Others).
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Countries Covered
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U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.
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Market Players Covered
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MITSUBISHI HEAVY INDUSTRIES, LTD. (Japan), Kaishan USA (U.S.), Strebl Energy Pte Ltd (Singapore), ORCAN ENERGY AG (Switzerland), ALFA LAVAL (Sweden), Fujian Snowman Co., Ltd. (China), Ormat (U.S.), Rank (Hungary), TMEIC (U.S.), Triogen (Netherlands), ABB (Switzerland), Siemens Energy (Germany),Dürr Group (Germany), ElectraTherm Inc. (BITZER Group) (U.S.), Enerbasque (Spain), Enertime (France), Enogia (France), EXERGY (Italy), CLIMEON (Sweden), INTEC Engineering GmbH (Germany), Zuccato Energia srl. (Italy), Opel Energy Systems Pvt. Ltd. (India), Corycos Group (Spain), CTMI - Steam Turbines (Italy), BorgWarner Inc. (U.S.) among others.
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Data Points Covered in the Report
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In addition to the insights on market scenarios such as market value, growth rate, segmentation, geographical coverage, and major players, the market reports curated by the Data Bridge Market Research also include in-depth expert analysis, geographically represented company-wise production and capacity, network layouts of distributors and partners, detailed and updated price trend analysis and deficit analysis of supply chain and demand.
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Segment Analysis:
The organic rankine cycle (ORC) waste heat to power market is segmented on the basis of size, application, capacity, and mode.
- On the basis of size, the global organic rankine cycle (ORC) waste heat to power market is segmented into large, small, and medium. In 2022, the medium segment is expected to dominate the global organic rankine cycle (ORC) waste heat to power market with a CAGR of 8.9% in the forecast period of 2022 to 2029 due to the increasing number of manufacturing plants for heat generation.
In 2022, the medium segment is expected to dominate the size segment of the global organic rankine cycle (ORC) waste heat to power market
In 2022, the medium segment is expected to dominate the global organic rankine cycle (ORC) waste heat to power market owing to greater flexibility in terms of heat source utilization and can handle a wider range of temperature differentials with a CAGR of 8.9% in the forecast period of 2022 to 2029.
- On the basis of capacity, the global organic rankine cycle (ORC) waste heat to power market is segmented into less than 1000 kW, 1001-4000 kW, 4001-7000 kW, and more than 7000 kW. In 2022, the Less Than 1000 kW segment is expected to dominate the global organic rankine cycle (ORC) waste heat to power market with a CAGR of 9.0% in the forecast period of 2022 to 2029 due to the increasing need among various industries to streamline operations to achieve operational excellence, customer satisfaction, flexibility, and increased productivity.
- On the basis of the model, the global organic rankine cycle (ORC) waste heat to power market has been segmented into steady state and dynamic. In 2022, the steady-state segment is expected to dominate the global organic rankine cycle (ORC) waste heat to power market with a CAGR of 8.8% in the forecast period of 2022 to 2029 due to error-free simulation results by steady model predictions and a strong control
In 2022, the steady-state segment is expected to dominate the model segment of the global organic rankine cycle (ORC) waste heat to power market
In 2022, the steady-state segment is expected to dominate the global organic rankine cycle (ORC) waste heat to power market owing to performance of the ORC system under constant operating conditions, such as a fixed heat source temperature and power output with a CAGR of 8.8% in the forecast period of 2022 to 2029.
- On the basis of application, the global organic rankine cycle (ORC) waste heat to power market is segmented into ICE or gas turbine, waste to energy, metal production, cement and lime industry, glass industry, petroleum refining, chemical industry, landfill ice, and others. In 2022, the ICE or gas turbine segment is expected to dominate the global organic rankine cycle (ORC) waste heat to power market with a CAGR of 8.9% in the forecast period of 2022 to 2029 due to feasibility analysis in terms of thermodynamic performance for an integrated waste heat recovery system with a gas turbine system.
Major Players
Data Bridge Market Research recognizes the following companies as the major organic rankine cycle (ORC) waste heat to power market players in organic rankine cycle (ORC) Waste Heat to Power market are MITSUBISHI HEAVY INDUSTRIES, LTD. (Japan), Kaishan USA (U.S.), Strebl Energy Pte Ltd (Singapore), ORCAN ENERGY AG (Switzerland), ALFA LAVAL (Sweden), Fujian Snowman Co., Ltd. (China), Ormat (U.S.), Rank (Hungary), TMEIC (U.S.), Triogen (Netherlands)
Market Development
- In 2020, Plug and Play and BorgWarner Inc. formed an alliance. The primary goal of this strategic alliance was to strengthen creative concepts in the tech and automotive industries in order to raise the capabilities of those industries to new heights. This business widened its market share in the tech and automotive industries.
- In 2018, Corycos Group partnered with Clean Energy Technologies, Inc. The partnership aimed to develop an innovative organic rankine cycle (ORC) heat recovery generator for the biogas industry. Through this partnership, both companies strengthen their market and regional presence
Regional Analysis
Geographically, the countries covered in the organic rankine cycle (ORC) waste heat to power market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.
As per Data Bridge Market Research analysis:
North America is the dominant region in the organic rankine cycle (ORC) waste heat to power market during the forecast period 2022 -2029
North America is a dominant region in the organic Rankine cycle (ORC) waste heat to power market due to the increasing recognition of power generation through waste heat recovery. The United States, in particular, holds a prominent position as it hosts several major market players in the ORC waste heat to the power sector. This concentration of key industry players contributes to the region's leadership in advancing ORC technology and driving market growth in North America.
Europe is estimated to be the fastest growing region in the organic rankine cycle (ORC) waste heat to power market the forecast period 2022 -2029
Germany holds a dominant position in the organic Rankine cycle (ORC) waste heat to power market in the European region. This is primarily due to the country's focus on reducing primary energy usage in industrial operations. Germany's strong emphasis on energy efficiency and sustainability has led to the widespread adoption of ORC technology for harnessing waste heat. The country's robust industrial sector and supportive policies have propelled Germany to the forefront of the ORC waste heat to power market in Europe.
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