organic rankine cycle market outlook, organic rankine cycle market demand, organic rankine cycle market insights, organic rankine cycle industry share, organic rankine cycle industry growth, organic rankine cycle market segments
How large is the organic rankine cycle market, and what is its growth trajectory?
The organic rankine cycle market size has grown strongly in recent years. It will grow from $0.7 billion in 2024 to $0.75 billion in 2025 at a compound annual growth rate (CAGR) of 7.3%. The growth in the historic period can be attributed to growing demand for renewable energy sources, growth in industrialization, increasing global energy demand, growing adoption of orc systems, and government incentives for sustainable energy technologies.
The organic rankine cycle market size is expected to see strong growth in the next few years. It will grow to $0.98 billion in 2029 at a compound annual growth rate (CAGR) of 6.9%. The growth in the forecast period can be attributed to increasing collaboration across sectors, increasing focus on improving energy efficiency, increasing electric vehicle (EV) applications, increasing focus on reducing greenhouse gas emissions, and increasing environmental awareness. Major trends in the forecast period include technological advancements, renewable energy integration, energy storage integration, focus on low-temperature sources, and government incentives.
Get Your Free Sample of The Global Organic Rankine Cycle Market Report:
https://www.thebusinessresearchcompany.com/sample.aspx?id=20914&type=smp
What are the key forces behind the organic rankine cycle market’s growth in recent years?
The growing demand for renewable energy sources is expected to propel the growth of the organic rankine cycle market going forward. Renewable energy is energy generated from natural sources such as sunlight, wind, rain, tides, and geothermal heat that are naturally replenished and sustainable over time. The growing demand for renewable energy sources is driven by the need to reduce greenhouse gas emissions, mitigate climate change, and ensure sustainable energy supply for the future. The organic rankine cycle (ORC) technology is utilized in renewable energy by converting low-temperature heat from geothermal, biomass, and solar thermal sources into electricity, enhancing the efficiency and viability of these renewable energy systems. For instance, in January 2024, the Energy Information Administration (EIA), a US-based government administration, solar power generation in the U.S. is projected to increase by 75% from 163 billion kWh in 2023 to 286 billion kWh by 2025. Similarly, wind power generation is expected to grow by 11%, from 430 billion kWh in 2023 to 476 billion kWh in 2025. Therefore, the growing demand for renewable energy sources will drive the growth of the organic rankine cycle market.
What are the major segments of the organic rankine cycle market?
The organic rankine cycle market covered in this report is segmented –
1) By Model: Dynamic; Steady-State
2) By Fluid Type: Hydrocarbon-Based ORC Systems; Siloxane-Based ORC Systems; Other Fluid Types
3) By Power Output: = 1 MWe; > 1 – 5 MWe; > 5 – 10 MWe; > 10 MWe
4) By Capacity: Small-Scale ORC Systems; Medium-Scale ORC Systems; Large-Scale ORC Systems
5) By Application: Waste Heat Recovery; Geothermal; Biomass; Oil And Gas; Waste To Energy; Solar Thermal
Subsegments:
1) By Dynamic Model: Real-Time Performance Simulation; Transient State Analysis; Dynamic Load Tracking Systems; Control System Modeling; Start-Up And Shut-Down Dynamics; Adaptive Control Systems
2) By Steady-State Model: Thermodynamic Cycle Modeling; Energy Efficiency Analysis; Constant Load Operation Systems; Heat Exchanger Design And Optimization; Performance Optimization At Fixed Operating Conditions; System Stability And Thermal Balance Analysis
Order your report now for swift delivery
https://www.thebusinessresearchcompany.com/report/organic-rankine-cycle-global-market-report
Which companies dominate the organic rankine cycle market?
Major companies operating in the organic rankine cycle market areGeneral Electric Company, Siemens Energy AG, Mitsubishi Heavy Industries Ltd., Asea Brown Boveri Ltd., Baker Hughes Company, Atlas Copco AB, Kawasaki Heavy Industries Ltd., IHI Corporation, Alfa Laval AB, Dürr AG, Ormat Technologies Inc., Exergy International Srl, Turboden S.p.A., Calnetix Technologies LLC, TAS Energy Inc., ORCAN ENERGY AG, Kaishan USA, Triogen Limited, Elvosolar a.s., Enertime S.A., INTEC GMK GmbH, Climeon AB, Enogia S.A.
How will emerging trends drive the organic rankine cycle market throughout the forecast period?
Major companies operating in the organic rankine cycle market are focusing on developing innovative advancements, such as waste heat recovery systems to enhance the energy efficiency, reduce emissions, and capitalize on waste heat from industrial processes for sustainable power generation. The waste heat recovery system is an advanced technology designed to capture and convert waste heat from industrial processes into electrical power, improving energy efficiency and reducing overall emissions. For instance, in March 2022, Alfa Laval AB, a Sweden-based industrial machinery manufacturing company, launched the E-PowerPack, an organic rankine cycle (ORC)-based waste heat recovery system for ships that converts waste heat directly into electrical power. This all-in-one unit helps ships improve their energy efficiency existing ship index (EEXI) and carbon intensity indicator (CII), appealing to shipowners seeking sustainability and regulatory compliance. The E-powerpack reduces fuel consumption and CO2 emissions by generating power from waste heat, enabling substantial fuel savings and a better CII rating. Its modular design offers up to 100 kW or 200 kW of net electrical output, which can be combined into larger systems. It suits all vessel types and marine fuels, including future fuels like green methanol and ammonia.
What are the key regional dynamics of the organic rankine cycle market, and which region leads in market share?
North America was the largest region in the organic rankine cycle market in 2024.Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the organic rankine cycle market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
What Does The Organic Rankine Cycle Market Report 2025 Offer?
The organic rankine cycle market research report from The Business Research Company offers global market size, growth rate, regional shares, competitor analysis, detailed segments, trends, and opportunities.
The organic rankine cycle (ORC) is a thermodynamic process that converts low-temperature heat sources into electricity, such as geothermal, solar, biomass, or waste heat. It uses an organic fluid with a lower boiling point than water, enabling efficient energy generation from lower temperatures. These systems are widely applied in industries and renewable energy sectors to enhance energy efficiency and reduce greenhouse gas emissions.
Purchase the exclusive report now to unlock valuable market insights:
https://www.thebusinessresearchcompany.com/purchaseoptions.aspx?id=20914
With over 15000+ reports from 27 industries covering 60+ geographies, The Business Research Company has built a reputation for offering comprehensive, data-rich research and insights. Armed with 1,500,000 datasets, the optimistic contribution of in-depth secondary research, and unique insights from industry leaders, you can get the information you need to stay ahead.
Our flagship product, the Global Market Model, is a premier market intelligence platform delivering comprehensive and updated forecasts to support informed decision-making.
Contact Us:
The Business Research Company
Europe: +44 207 1930 708
Asia: +91 88972 63534
Americas: +1 315 623 0293
Email: info@tbrc.info
Follow Us On:
LinkedIn: https://in.linkedin.com/company/the-business-research-company
Twitter: https://twitter.com/tbrc_info
Facebook: https://www.facebook.com/TheBusinessResearchCompany
YouTube: https://www.youtube.com/channel/UC24_fI0rV8cR5DxlCpgmyFQ
Blog: https://blog.tbrc.info/
Healthcare Blog: https://healthcareresearchreports.com/
Global Market Model: https://www.thebusinessresearchcompany.com/global-market-model
