Global Organic Rankine Cycle (ORC) Waste Heat to Power Market – Industry Trends and Forecast to 2031

Global Organic Rankine Cycle (ORC) Waste Heat to Power Market , By Size (Small, Medium, and Large), Capacity (Less Than 1000 kW, 1001-4000 kW, 4001-7000 kW, and More than 7000 kW), Model (Steady-State and Dynamic), Application (ICE or Gas Turbine, Waste to Energy, Metal Production, Cement and Lime Industry, Glass Industry, Petroleum Refining, Chemical Industry, Landfill ICE, and Others) - Industry Trends and Forecast to 2031.

Organic Rankine Cycle (ORC) Waste Heat to Power Market Analysis and Size

Organic rankine cycle (ORC) waste heat to power market is efficiently used to converts waste heat from liquids or gases into carbon-neutral power, sourced from geothermal or industrial waste heat. ORC technology aids companies in meeting growing electricity demands by generating additional power and reducing reliance on traditional fuel sources, particularly through large-scale implementation for waste heat recovery.

Data Bridge Market Research analyses the global organic rankine cycle (ORC) waste heat to power market which was USD 22,17,035.39 thousand in 2023, is expected to reach USD 42,89,545 thousand by 2031, growing at a CAGR of 8.60% during the forecast period of 2024-2031. 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.

Report Scope and Market Segmentation

Market Definition

Organic rankine cycle (ORC) systems harness low to medium-temperature heat sources (80 to 350 °C), enabling power production from otherwise wasted low-grade heat. Unsuch as the conventional Clausius-Rankine cycle, ORC employs organic substances with lower boiling points and higher vapor pressures than water, facilitating electricity generation from low-temperature heat sources.

Global Organic Rankine Cycle (ORC) Waste Heat to Power Market Dynamics

Drivers

• Rise in the Reduction of Usage of Primary Energy in Industrial Operations

As industries increasingly prioritize energy efficiency, the ORC technology stands out as a key solution. Its ability to efficiently harness and convert waste heat into usable power aligns with the global trend towards sustainability, offering a compelling strategy for reducing reliance on primary energy sources and mitigating environmental impact. This shift underscores the growing importance of ORC systems in advancing sustainable energy practices on a global scale.

• Reducing Greenhouse Gas Emissions Fuels the Increased Adoption of ORC Systems

Governments and industries worldwide are increasingly embracing ORC technology as a sustainable solution, driven by its ability to harness low-grade heat sources and generate carbon-neutral power. This shift aligns with global efforts to combat climate change, making ORC systems a key player in the ongoing transition towards cleaner and more environmentally friendly energy solutions, thereby fueling the growth of the global ORC waste heat to power market.

Opportunities

• Rapid Industrialization Increases the Demand for Energy

As industries expand, the demand for energy rises, and ORC technology can effectively harness and convert the excess heat generated during industrial processes into valuable power. This offers a sustainable solution, enhancing energy efficiency and reducing environmental impact. The global ORC market is poised to capitalize on the growing need for cleaner energy sources within the industrial sector, fostering a more sustainable and carbon-neutral approach to power generation.

• Efficiently Harnessing Waste Heat from Various Sources Amid Climate Change Concerns

Amid rising climate change concerns, the global organic rankine cycle (orc) waste heat to power market presents a significant opportunity by efficiently reaching into waste heat from diverse sources. This technology addresses environmental challenges by converting residual heat into power, offering a sustainable solution for electricity generation. The market's growth potential is fueled by increasing awareness of eco-friendly practices and the imperative to harness untapped energy resources, positioning ORC systems as a key player in the transition towards more sustainable power solutions globally.  

 Restraints/Challenges

• High Maintenance Costs Associated with Complexity of Managing Organic Working Fluids

The complexity of handling these substances in ORC systems adds operational challenges, leading to increased maintenance expenses. The need for specialized expertise and resources to navigate the intricacies of organic fluid maintenance poses a barrier, hindering widespread adoption. As companies weigh the economic viability of ORC technology, the associated maintenance complexities contribute to reservations and limit its broader market penetration.

• Lack of Awareness about The Technology Limits the Market Growth

Insufficient understanding and recognition of the efficiency of ORC systems in converting waste heat into power act as a barrier, potentially hampering the broader adoption of this technology. This limited awareness could impede the market's growth as potential users may not fully grasp the benefits and applications of ORC waste heat to power systems.

The global organic rankine cycle (ORC) waste heat to power market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the global organic rankine cycle (ORC) waste heat to power market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.

Impact and Current Market Scenario of Raw Material Shortage and Shipping Delays

Data Bridge Market Research offers a high-level analysis of the market and delivers information by keeping in account the impact and current market environment of raw material shortage and shipping delays. This translates into assessing strategic possibilities, creating effective action plans, and assisting businesses in making important decisions. Apart from the standard report, we also offer in-depth analysis of the procurement level from forecasted shipping delays, distributor mapping by region, commodity analysis, production analysis, price mapping trends, sourcing, category performance analysis, supply chain risk management solutions, advanced benchmarking, and other services for procurement and strategic support.

Expected Impact of Economic Slowdown on the Pricing and Availability of Products

When economic activity slows, industries begin to suffer. The forecasted effects of the economic downturn on the pricing and accessibility of the products are taken into account in the market insight reports and intelligence services provided by DBMR. With this, our clients can typically keep one step ahead of their competitors, project their sales and revenue, and estimate their profit and loss expenditures.

Recent Developments

• In September 2020, BorgWarner Inc. forged a strategic collaborated with Plug and Play, aiming to foster innovation in the automotive and tech sectors. The collaboration aimed to elevate the industry's capabilities by cultivating inventive ideas. This partnership facilitated BorgWarner's expansion in the automotive and tech sector markets, leveraging synergies to drive growth and advancement

Global Organic Rankine Cycle (ORC) Waste Heat to Power Market Scope

Global organic rankine cycle (ORC) waste heat to power market is segmented on the basis of size, capacity, model, and application. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.

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

Global Organic Rankine Cycle (ORC) Waste Heat to Power Market Regional Analysis/Insights

The global organic rankine cycle (ORC) waste heat to power market is analyzed, and market size insights and trends are provided by country, size, capacity, model, and application as referenced above.

The countries covered in the global organic rankine cycle (ORC) waste heat to power market report are the U.S., Canada, and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Poland, Denmark, Finland, Sweden, Norway, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Taiwan, New Zealand, Vietnam, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, South Africa, Egypt, Israel, Qatar, Kuwait, Bahrain, Oman, 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.

North America dominates the organic rankine cycle (ORC) waste heat to power market, driven by a growing emphasis on power generation through waste heat recovery. The U.S., particularly, plays a dominant role, hosting major market players in the ORC waste heat to power sector. This regional dominance underscores the significance of leveraging waste heat for power generation in the evolving energy landscape.

In Europe, Germany dominates the market due to a notable increase in reducing the consumption of primary energy within industrial operations. This upsurge reflects Germany's commitment to energy efficiency practices, positioning the country as a leader in the region. The emphasis on minimizing primary energy usage contributes to Germany's stronghold, showcasing its proactive role in sustainable industrial practices.

The Asia-Pacific, China dominates the market due to robust government incentives encouraging green energy initiatives. The Chinese government's proactive policies and support for sustainable practices have propelled the nation to the forefront of the region's green energy landscape. These incentives play a pivotal role in driving China's leadership in promoting and adopting environmentally friendly technologies.

The country section of the report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points such as down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.   

Competitive Landscape and Global Organic Rankine Cycle (ORC) Waste Heat to Power Market Share Analysis

Global organic rankine cycle (ORC) waste heat to power market competitive landscape provides details by the competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to the global organic rankine cycle (ORC) waste heat to the power market.

Some of the major players operating in the global 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 (U.K.)
• TMEIC (Japan)
• Triogen (Netherlands)
• ABB (Switzerland)
• Siemens Energy (Germany)
• Dürr Group (Germany)
• ElectraTherm Inc. (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 (Greece)
• CTMI - Steam Turbines (India)
• BorgWarner Inc. (U.S.)