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 2024-2031

Report ID: SQMIG25AH2014 | Region: Global | Published Date: February, 2024
Pages: 157 | Tables: 121 | Figures: 73

ORC Waste Heat to Power Market News

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 Market Report Snapshots

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Global ORC Waste Heat to Power Market size was valued at USD 5 billion in 2022 and is poised to grow from USD 5.78 billion in 2023 to USD 18.29 billion by 2031, growing at a CAGR of 15.5% in the forecast period (2024- 2031).

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. 'General Electric', 'Mitsubishi Heavy Industries, Ltd.', 'Exergy International Srl', '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'

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.

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.

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.

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