ORC Waste Heat To Power Market Research Report: By Technology Type (Organic Rankine Cycle (ORC), Kalina Cycle, Vapor Absorption Cycle, Other Technologies), By Heat Source (Internal Combustion Engines, Gas Turbines, Steam Turbines, Other Heat Sources), By Industry (Power Generation, Industrial Processes, Oil and Gas Industry, Marine Applications, Other Industries), By Capacity (1 MW, 1-10 MW, 10-50 MW, 50-100 MW, >100 MW), By End User (Utilities, Industries, Commercial Buildings, Other End Users) and By Regional (North America, Europe, So

Global ORC Waste Heat To Power Market Overview

As per MRFR analysis, the ORC Waste Heat To Power Market Size was estimated at 6.79 (USD Billion) in 2022.

The ORC Waste Heat To Power Industry is expected to grow from 7.62 (USD Billion) in 2023 to 21.5 (USD Billion) by 2032. The ORC Waste Heat To Power Market CAGR (growth rate) is expected to be around 12.23% during the forecast period (2024 - 2032).

Key ORC Waste Heat To Power Market Trends Highlighted

ORC Waste Heat to power systems has gained significant traction in recent years due to the rising need for sustainable and cost-effective energy solutions. These systems harness waste heat from industrial processes, such as power plants, refineries, and manufacturing facilities, to generate electricity. Key market drivers include increasing energy costs, stringent environmental regulations, and growing demand for renewable energy sources.

Exploration of untapped opportunities lies in the expansion of the market to niche applications, such as micro-CHP systems for distributed power generation and waste heat recovery from data centers. Trends have shown a shift towards modular and packaged solutions, offering flexibility and ease of deployment. Technological advancements in materials and system design have enhanced efficiency and durability, making ORC Waste Heat to power systems a more viable option for a wide range of industries. Continued innovation and government incentives are expected to drive further growth and adoption of these systems in the years to come.

Source: Primary Research, Secondary Research, MRFR Database and Analyst Review

ORC Waste Heat To Power Market Drivers

Increasing Demand for Renewable Energy

The growing awareness of the environmental impact of fossil fuels and the increasing demand for renewable energy sources are driving the growth of the ORC Waste Heat To Power Market Industry. Orc (Organic Rankine Cycle) technology offers a sustainable and efficient way to generate electricity from low-grade heat sources, such as waste heat from industrial processes or geothermal sources. The rising demand for renewable energy solutions, coupled with government incentives and regulations promoting the adoption of clean energy technologies, is expected to continue to fuel the growth of the ORC Waste Heat To Power Market Industry in the coming years.

Government Incentives and Regulations

Governments worldwide are implementing various incentives and regulations to encourage the adoption of renewable energy technologies, including ORC Waste Heat to power systems. These incentives can include tax credits, subsidies, and feed-in tariffs that make it more cost-effective for businesses and individuals to invest in renewable energy projects. Additionally, regulations that limit the emission of greenhouse gases and promote the use of clean energy sources are driving the growth of the ORC Waste Heat To Power Market Industry.

Technological Advancements and Cost Reduction

Ongoing technological advancements are improving the efficiency and cost-effectiveness of ORC Waste Heat to power systems. Research and development efforts are focused on developing more efficient and compact Orc systems, as well as reducing the capital and operating costs associated with these systems. These advancements are making ORC Waste Heat to power technology more attractive for a wider range of applications, further driving the growth of the ORC Waste Heat To Power Market Industry.

ORC Waste Heat To Power Market Segment Insights

ORC Waste Heat To Power Market Technology Type Insights

The ORC Waste Heat To Power Market is segmented by Technology Type into Organic Rankine Cycle (ORC), Kalina Cycle, Vapor Absorption Cycle, and Other Technologies. Among these, the ORC segment held the largest market share in 2023, accounting for approximately 70% of the ORC Waste Heat To Power Market revenue. ORC technology is widely adopted due to its high efficiency, reliability, and scalability, making it suitable for a range of waste heat applications. The Kalina Cycle segment is projected to experience significant growth during the forecast period, owing to its ability to handle low-temperature heat sources effectively.

The Vapor Absorption Cycle segment is expected to gain traction in the coming years, as it offers advantages such as low operating costs and environmentally friendly refrigerants. Other Technologies, including thermoelectric generators and heat exchangers, are also expected to contribute to the growth of the ORC Waste Heat To Power Market. The ORC Waste Heat To Power Market segmentation provides valuable insights into the key technologies driving market growth. By understanding the market dynamics and trends associated with each technology type, stakeholders can make informed decisions and tailor their strategies accordingly.

This segmentation analysis enables businesses to identify opportunities, address challenges, and position themselves for success in the rapidly evolving ORC Waste Heat To Power Market.

Source: Primary Research, Secondary Research, MRFR Database and Analyst Review

ORC Waste Heat To Power Market Heat Source Insights

The ORC Waste Heat To Power Market segmentation by Heat Source is categorized into Internal Combustion Engines, Gas Turbines, Steam Turbines, and Other Heat Sources. Among these, the Gas Turbines segment held the largest market share in 2023, accounting for approximately 45% of the ORC Waste Heat To Power Market revenue. The dominance of Gas Turbines in the market can be attributed to their high efficiency, reliability, and ability to handle a wide range of heat sources. The Steam Turbines segment is anticipated to witness significant growth over the forecast period, owing to the increasing adoption of Organic Rankine Cycle (ORC) technology in industrial applications.

The Internal Combustion Engines segment is projected to experience moderate growth, driven by the rising demand for waste heat recovery systems in the transportation sector. The Other Heat Sources segment, which includes sources such as biomass and geothermal energy, is expected to contribute a small but growing share of the ORC Waste Heat To Power Market. The increasing focus on renewable energy sources and the need to reduce carbon emissions are expected to drive the growth of this segment in the coming years.

ORC Waste Heat To Power Market Industry Insights

The ORC Waste Heat To Power Market is segmented into various industries, including Power Generation, Industrial Processes, Oil and Gas Industry, Marine Applications, and Other Industries. Among these segments, Power Generation is expected to hold the largest market share due to the increasing demand for efficient power generation methods and the growing adoption of renewable energy sources. Industrial Processes are another major segment, driven by the need to reduce energy consumption and improve operational efficiency in various industries such as manufacturing, mining, and food processing.

The Oil and Gas Industry is also a significant segment due to the focus on reducing flaring and emissions while optimizing energy production. Marine Applications are expected to grow steadily, driven by the increasing demand for fuel-efficient and environmentally friendly solutions in the shipping and maritime sectors. Other Industries, including district heating, waste management, and transportation, are expected to contribute to the overall market growth.

ORC Waste Heat To Power Market Capacity Insights

The ORC Waste Heat To Power Market is segmented by capacity into 1 MW, 1-10 MW, 10-50 MW, 50-100 MW, and >100 MW. Among these, the 1-10 MW segment is expected to account for the largest revenue share in the ORC Waste Heat To Power Market in the coming years, owing to the increasing adoption of small-scale power generation systems by industries and commercial establishments. The growing demand for reliable and sustainable power sources is further driving the growth of this segment. Moreover, government initiatives and policies promoting the adoption of renewable energy sources are creating favorable growth prospects for the ORC Waste Heat To Power Market.

ORC Waste Heat To Power Market End User Insights

Utilities are expected to dominate the ORC Waste Heat To Power Market throughout the forecast period, owing to the increasing demand for reliable and sustainable sources of energy. In 2023, the utilities segment accounted for over 40% of the overall market revenue and is projected to grow at a CAGR of 12.5% during the forecast period. The growth of this segment can be attributed to the rising number of power plants adopting Orc technology to generate electricity from waste heat, thereby reducing their environmental impact and operating costs.

Industries are another major end-user of Orc systems, accounting for a significant share of the global market revenue. The industrial sector is witnessing a growing demand for efficient and cost-effective ways to recover energy from industrial processes, leading to the increasing adoption of Orc technology. Key industries utilizing Orc systems include oil and gas, chemicals, and manufacturing, among others. Commercial buildings represent a growing end-user segment in the ORC Waste Heat To Power Market. The increasing focus on energy efficiency and sustainability in the commercial sector is driving the adoption of Orc systems to utilize waste heat from HVAC systems, generators, and other sources.

The growing number of green building initiatives and regulations is further contributing to the growth of this segment. Other end users of Orc technology include data centers, hospitals, and district heating systems. These sectors are exploring the potential of Orc systems to recover waste heat and generate electricity on-site, reducing their energy costs and environmental footprint. The growing awareness about the benefits of Orc technology is expected to drive the adoption in these end-user segments in the coming years.

ORC Waste Heat To Power Market Regional Insights

The ORC Waste Heat To Power Market is segmented into North America, Europe, APAC, South America, and MEA. Among these regions, APAC is expected to witness the fastest growth over the forecast period. The growth in this region can be attributed to the increasing demand for energy and the growing awareness of environmental sustainability. China is the major contributor to the APAC market, followed by India and Japan. Europe is another major region in the ORC Waste Heat To Power Market. The region is witnessing a growing demand for renewable energy sources, which is driving the growth of the ORC Waste Heat To Power Market.

Germany, the United Kingdom, and France are the major markets in Europe. North America is a mature market for ORC Waste Heat To Power. The region has a well-established energy infrastructure and a supportive regulatory framework. The United States is the major market in North America. South America and MEA are relatively smaller markets for ORC Waste Heat To Power. However, these regions are expected to witness significant growth in the coming years. The growing demand for energy and the increasing awareness of environmental sustainability are driving the growth of the ORC Waste Heat To Power Market in these regions.

Source: Primary Research, Secondary Research, MRFR Database and Analyst Review

ORC Waste Heat To Power Market Key Players And Competitive Insights:

Major players in the ORC Waste Heat To Power Market are eyeing significant growth potential in the industry. Leading ORC Waste Heat To Power Market players are proactively developing innovative solutions to meet the evolving needs of customers. The ORC Waste Heat To Power Market industry is witnessing strategic collaborations and partnerships among key players aimed at expanding market reach and strengthening competitive positions. These players are actively involved in research and development activities to enhance product offerings and gain a competitive edge. The competitive landscape is expected to remain dynamic, with new entrants and existing players vying for market share.

Among the leading companies in the ORC Waste Heat To Power Market, Turbomach is known for its expertise in providing efficient and reliable waste heat recovery solutions. The company offers a comprehensive range of products, including organic Rankine cycle (ORC) systems, heat recovery steam generators (HRSGs), and heat exchangers. Turbomach has a strong global presence and has successfully implemented numerous waste heat recovery projects across various industries, including oil and gas, power generation, and manufacturing. The company's focus on innovation and customer-centric approach has contributed to its position as a prominent player in the ORC Waste Heat To Power Market.

A notable competitor in the ORC Waste Heat To Power Market is Ormat Technologies. The company specializes in the development and manufacturing of geothermal and recovered energy power plants. Ormat has a proven track record of delivering turnkey solutions for waste heat recovery projects, leveraging its expertise in ORC technology. The company's robust product portfolio includes ORC-based power plants, heat exchangers, and other related equipment. Ormat has a global presence and has successfully deployed its solutions in diverse applications, including industrial facilities, data centers, and power plants. The company's commitment to sustainability and its focus on providing cost-effective solutions have positioned Ormat as a formidable competitor in the ORC Waste Heat To Power Market.

Key Companies in the ORC Waste Heat To Power Market Include:

• ABL Group


• Enviva HoldingsLP


• Conrad Energy


• Agilyx


• American Thermal Instruments


• ai


• Catalyst Power


• Celadon Systems


• Greenberry Industrial Group


• GCG


• Babcock Wilcox


• Ormat Technologies


• EnerWaste


• Clearway Energy


• Frenkel Group

ORC Waste Heat To Power Industry Developments

The ORC Waste Heat To Power market has witnessed significant growth in recent years, driven by increasing demand for efficient and sustainable energy solutions. In 2023, the market was valued at approximately USD 7.62 billion and is projected to reach USD 21.5 billion by 2032, exhibiting a CAGR of 12.23% during the forecast period. This growth is attributed to factors such as rising energy costs, growing environmental concerns, and government initiatives promoting renewable energy sources.

Recent developments in the market include:

- In January 2023, Ormat Technologies announced the acquisition of a 15 MW geothermal power plant in Kenya, expanding its presence in the African market

- In February 2023, the European Union announced plans to invest €200 million in research and development of waste-to-energy technologies, including ORC Waste Heat To Power systems

- In March 2023, Exergy, a leading provider of ORC Waste Heat To Power solutions, secured a contract to supply a 4 MW system to a petrochemical plant in the Middle East

- In June 2023, Mitsubishi Heavy Industries launched a new series of ORC Waste Heat To Power turbines, offering improved efficiency and reduced emissions.

These developments indicate a growing interest and investment in the ORC Waste Heat To Power market, supporting its projected growth in the coming years.

ORC Waste Heat To Power Market Segmentation Insights

ORC Waste Heat To Power Market Technology Type Outlook

• Organic Rankine Cycle (ORC)


• Kalina Cycle


• Vapor Absorption Cycle


• Other Technologies

ORC Waste Heat To Power Market Heat Source Outlook

• Internal Combustion Engines


• Gas Turbines


• Steam Turbines


• Other Heat Sources

ORC Waste Heat To Power Market Industry Outlook

• Power Generation


• Industrial Processes


• Oil and Gas Industry


• Marine Applications


• Other Industries

ORC Waste Heat To Power Market Capacity Outlook

• 1 MW


• 1-10 MW


• 10-50 MW


• 50-100 MW


• >100 MW

ORC Waste Heat To Power Market End User Outlook

• Utilities


• Industries


• Commercial Buildings


• Other End Users

ORC Waste Heat To Power Market Regional Outlook

• North America


• Europe


• South America


• Asia Pacific


• Middle East and Africa