USD 5 billion
ORC Waste Heat to Power Market Size, Share, Growth Analysis, By Model(Steady-state and Dynamic), By Application(Petroleum Refining, Cement Industry, Heavy Metal Production, Chemical Industry), By Products(Steam Rankine Cycle, Organic Rankine Cycle, Kalina Cycle), By Power Output(≤ 1 MWe, > 1 - 5 MWe, > 5 - 10 MWe, > 10 MWe), By Region - Industry Forecast 2025-2032
Report ID:
SQMIG25AH2014 |
Region:
Global |
Published Date: February, 2024
Pages:
157
|Tables:
121
|Figures:
73
ORC Waste Heat to Power Market Insights
ORC Waste Heat to Power Market size was valued at USD 5.78 Billion in 2023 and is poised to grow from USD 6.68 Billion in 2024 to USD 21.12 Billion by 2032, growing at a CAGR of 15.5% during the forecast period (2025-2032).
The surging electricity demand from heavy industries is set to drive the necessity for an efficient waste heat recovery system, which will significantly catalyze the deployment of Organic Rankine Cycle (ORC) units.
Furthermore, the presence of a favorable policy framework, promoting the adoption of sustainable technologies across various industries, will seamlessly align with the objectives of ORC waste heat to power industry expansion.
Market snapshot - 2024- 2031
Global Market Size
Largest Segment
1 to 5 MWe
Fastest Growth
>10 MWe
Growth Rate
15.5% CAGR
Global ORC Waste Heat to Power Market ($ Bn)
Country Share for North America Region (%)
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ORC Waste Heat to Power Market Segmental Analysis
The global ORC waste heat to power market is segmented into four major segments i.e. by power output, model, application, products, regions. Based on product the market is segmented as, single-mode readers, absorbance microplate readers, fluorescence microplate readers, luminescence microplate readers, others, multi-mode readers, filter-based microplate readers, monochromator-based microplate readers, hybrid microplate readers. Based on application the market is segmented as, genomics & proteomics research, drug discovery, clinical diagnostics, others. Based on end-use the market is segmented as, pharmaceutical & biotechnology companies & CROS, academic & research institutions, others. Based on Region, the market is segmented as, North America, Europe, Asia Pacific, Latin America.
Analysis by Power Output
The 1 to 5 MWe power output segment plays a significant role in the ORC (Organic Rankine Cycle) waste heat to power market. This power output range caters to a wide range of industries and applications. It is versatile enough to be utilized in various sectors, including manufacturing, industrial processes, and even smaller-scale renewable energy projects.
The >10 MWe (more than 10 megawatts electrical) segment in the ORC (Organic Rankine Cycle) wastes heat to power market. This segment is characterized by the capacity to generate substantial electrical power, making it suitable for industries and facilities with high energy demands.
Analysis by Application
In 2022, the petroleum refining segment plays a significant role in the ORC (Organic Rankine Cycle) waste heat to power market. Petroleum refining is an energy-intensive industry, and it generates substantial waste heat as a byproduct of its operations. This waste heat represents a valuable resource that can be harnessed using ORC technology.
The chemical industry segment plays a significant role in the ORC (Organic Rankine Cycle) waste heat to power market. High Energy Consumption: The chemical industry is known for its substantial energy consumption. Many chemical processes generate waste heat, which can be captured and converted into electricity using ORC technology.
Global ORC Waste Heat to Power Market By Application
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ORC Waste Heat to Power Market Regional Insights
North America ORC waste heat to power market is poised for significant expansion in the forecast period, primarily driven by the increasing need for onsite power generation and a favorable perspective on industrial sector growth. The region is experiencing a notable influx of investments directed at the advancement of diverse clean energy systems, such as geothermal, biomass, and various solar-powered technologies.
Asia Pacific ORC waste heat to power market valuation is poised to reach nearly USD 7 billion by 2032 on account of the growing focus on lowering GHG emissions while fostering energy supply to accommodate the demand of developing economies. This is creating potential growth opportunities for industry players to offer green technology solutions.
Global ORC Waste Heat to Power Market By Geography
- Largest
- Fastest
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ORC Waste Heat to Power Market Dynamics
Drivers
Rise in the Reduction of Usage of Primary Energy in Industrial Operations
- Waste heat to power stands out as a highly viable renewable energy source for electricity generation. This method is recognized for its exceptional efficiency in power production, primarily achieved by curbing the consumption of energy and fuels within industrial processes. By harnessing waste heat, it is possible to produce emission-free electricity, which can be seamlessly integrated into regular industrial operations or supplied to the grid for broader distribution.
Restraints
Increasing Access to Innovative Alternative Technologies
- The emergence of diverse technologies such as SRC and Kalina has indeed cast a shadow on the ORC technology, potentially hindering its growth within the waste heat to power industry due to their enhanced efficiency and reduced costs. However, the distinctive factor lies in the fluid composition: the Kalina cycle employs a blend of ammonia and water as its working fluid, whereas ORC relies on pure organic fluids.
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ORC Waste Heat to Power Market Competitive Landscape
The competitive environment of the global ORC waste heat to power market is dynamic and characterized by the presence of a mix of well-established brands, emerging players, and niche producers. Innovation is a key competitive factor. To understand the competitive rivalry, we are comparing the revenue, expenses, resources, product portfolio, region coverage, market share, key initiatives, product launches, and any news related to the market.
Top Player’s Company Profiles
- General Electric
- Turboden S.p.A
- Calnetix Technologies, LLC
- Kaishan USA
- ENOGIA
- ABB
- Atlas Copco North America LLC.
- ELVOSOLAR a.s.
- INTEC GMK GmbH
- KAISHAN GROUP CO., LTD.
- Orcan Energy AG
- Ormat Technologies Inc.
- SUMEC GeoPower AG
- Triogen NL
Recent Developments
- In September 2022, Mitsubishi Heavy Industries introduced an innovative ORC-based binary power generation system designed to efficiently capture waste heat from engines running on sulfur-free fuels.
- In June 2022, Geothermal Development & Investment (GDI) and EXERGY International, experts in ORC systems and renewable energy solutions, joined forces to launch a collaborative initiative aimed at distributing geothermal power plants incorporating ORC technology in Japan.
ORC Waste Heat to Power Key Market Trends
- The world's electricity generation remains heavily reliant on fossil fuel resources, including coal, natural gas, and oil. This dependence is evident through the proliferation of fossil-fired power generation plants worldwide, marking a notable global trend. Nevertheless, these power plants inherently generate waste heat as part of their operation, and the release of such heat into the environment is a prevailing concern.
ORC Waste Heat to Power Market SkyQuest Analysis
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Correlates, and Analyses the Data collected by means of Primary Exploratory Research backed by robust Secondary Desk research.
Global ORC waste heat to power market analysis reveals a dynamic marketplace with a number of standout trends and difficulties. The ORC waste heat to power market is expected to experience rapid growth, primarily attributed to the significant potential of geothermal and biomass energy sources, alongside the escalating investments within the clean energy sector. In pursuit of enhanced competitiveness, a growing number of business owners and industries are actively exploring innovative strategies to reduce costs by optimizing their energy consumption.
| Report Metric | Details |
|---|---|
| Market size value in 2022 | USD 5 billion |
| Market size value in 2031 | USD 18.29 billion |
| Growth Rate | 15.5% |
| Base year | 2023 |
| Forecast period | 2024- 2031 |
| Forecast Unit (Value) | USD Billion |
| Segments covered |
|
| Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
| Companies covered |
|
| Customization scope | Free report customization with purchase. Customization includes:-
|
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Table Of Content
Executive Summary
Market overview
- Exhibit: Executive Summary – Chart on Market Overview
- Exhibit: Executive Summary – Data Table on Market Overview
- Exhibit: Executive Summary – Chart on ORC Waste Heat to Power Market Characteristics
- Exhibit: Executive Summary – Chart on Market by Geography
- Exhibit: Executive Summary – Chart on Market Segmentation
- Exhibit: Executive Summary – Chart on Incremental Growth
- Exhibit: Executive Summary – Data Table on Incremental Growth
- Exhibit: Executive Summary – Chart on Vendor Market Positioning
Parent Market Analysis
Market overview
Market size
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- SWOT Analysis
KEY MARKET INSIGHTS
- Technology Analysis
- (Exhibit: Data Table: Name of technology and details)
- Pricing Analysis
- (Exhibit: Data Table: Name of technology and pricing details)
- Supply Chain Analysis
- (Exhibit: Detailed Supply Chain Presentation)
- Value Chain Analysis
- (Exhibit: Detailed Value Chain Presentation)
- Ecosystem Of the Market
- Exhibit: Parent Market Ecosystem Market Analysis
- Exhibit: Market Characteristics of Parent Market
- IP Analysis
- (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
- Trade Analysis
- (Exhibit: Data Table: Import and Export data details)
- Startup Analysis
- (Exhibit: Data Table: Emerging startups details)
- Raw Material Analysis
- (Exhibit: Data Table: Mapping of key raw materials)
- Innovation Matrix
- (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
- Pipeline product Analysis
- (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
- Macroeconomic Indicators
COVID IMPACT
- Introduction
- Impact On Economy—scenario Assessment
- Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
- Revised Market Size
- Exhibit: Data Table on ORC Waste Heat to Power Market size and forecast 2021-2027 ($ million)
- Impact Of COVID On Key Segments
- Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
- COVID Strategies By Company
- Exhibit: Analysis on key strategies adopted by companies
MARKET DYNAMICS & OUTLOOK
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- Regulatory Landscape
- Exhibit: Data Table on regulation from different region
- SWOT Analysis
- Porters Analysis
- Competitive rivalry
- Exhibit: Competitive rivalry Impact of key factors, 2021
- Threat of substitute products
- Exhibit: Threat of Substitute Products Impact of key factors, 2021
- Bargaining power of buyers
- Exhibit: buyers bargaining power Impact of key factors, 2021
- Threat of new entrants
- Exhibit: Threat of new entrants Impact of key factors, 2021
- Bargaining power of suppliers
- Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
- Competitive rivalry
- Skyquest special insights on future disruptions
- Political Impact
- Economic impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact
Market Size by Region
- Chart on Market share by geography 2021-2027 (%)
- Data Table on Market share by geography 2021-2027(%)
- North America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- USA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Canada
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Europe
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Germany
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Spain
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- France
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- UK
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Europe
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Asia Pacific
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- China
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- India
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Japan
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Korea
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Asia Pacific
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Latin America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Brazil
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of South America
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Middle East & Africa (MEA)
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- GCC Countries
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Africa
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of MEA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
KEY COMPANY PROFILES
- Competitive Landscape
- Total number of companies covered
- Exhibit: companies covered in the report, 2021
- Top companies market positioning
- Exhibit: company positioning matrix, 2021
- Top companies market Share
- Exhibit: Pie chart analysis on company market share, 2021(%)
- Total number of companies covered
Methodology
For the ORC Waste Heat to Power Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the ORC Waste Heat to Power Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the ORC Waste Heat to Power Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the ORC Waste Heat to Power Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
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