image

Report Scope & Overview:

The Organic Rankine Cycle Market size was valued at USD 830.20 billion in 2022 and is expected to grow to USD 1084.79 billion by 2030 and grow at a CAGR of 3.4 % over the forecast period of 2023-2030.

The organic Rankine cycle (ORC) may be a technique with great potential for increasing the use of low-grade industrial waste heat. The purpose of this work is to offer an enhanced mixed integer nonlinear programme (MINLP) model based on a superstructure for the integration of an ORC inside a complete site to recover low-grade waste heat. The energy-capital trade-off, which takes into account utility costs, ORC power production, and related capital costs for ORC and heat exchangers, may be taken into account by the model. This approach allowed for simultaneous determination of the ORC's operating conditions and the choice of waste heat stream matching. The use of this approach is demonstrated through a case study. Recovery of waste heat During numerous operations, the industrial sector produces a sizable quantity of waste heat. The recovery of this waste heat and conversion of it into useful power is made possible by ORC technology. Businesses are implementing ORC systems more often to increase operational effectiveness, lower operating expenses, and achieve sustainability goals.

Organic Rankine Cycle Market Revenue Analysis

MARKET DYNAMICS

KEY DRIVERS:  

  • Strict emission standards

  • Growing need for clean energy

  • Growing use of renewable energy

As attention shifts to lowering greenhouse gas emissions and switching to cleaner energy sources, there is an increase in demand for renewable energy technology. ORC systems are a desirable alternative for a variety of applications because they provide an effective and dependable technique of turning low-temperature heat into electricity.

RESTRAIN:

  • Waste heat recovery

  • Solar thermal

  • Supply deficit of raw material

OPPORTUNITY: 

  • Growing adoption in renewable energy

  • Developing economic ORC manufactures

CHALLENGES:

  • Availability of other alternative technologies

  • Waste Heat Recovery from Electric Vehicles

As EV usage rises, waste heat produced by their batteries, motors, and power electronics represents an untapped resource for ORC systems. Integration of waste heat recovery systems in EVs, where the waste heat is transformed into additional electricity to extend the range of the vehicle or power auxiliary systems, might lead to future ORC market growth. This application could help EVs use less energy and have longer ranges when driving.

KEY MARKET SEGMENTS

By Application

  • Waste Heat Recovery

    • Petroleum Refinery

    •  Chemical

    •  Glass

    • Cement

    • Metal Production and Casting (Iron & Steel)

  • Biomass

  • Geothermal

  • Solar Thermal

  • Oil & Gas (Gas Pipeline Pressure Stations)

  • Waste to Energy

REGIONAL ANALYSIS

In 2022, North America became one of the key geographical areas for the ORC market. In 2022, geothermal will have the greatest market share in the ORC market's application segment. Because geothermal projects typically have higher capacities than biomass and waste heat recovery projects, the ORC market will be larger for geothermal applications in 2022 as a result of the recent deployment of large-scale geothermal projects.

The market in Europe would have a sizably substantial revenue share.

The region's market revenue development is attributed to the presence of well-established manufacturing and industrial sectors as well as the expanding usage of renewable energy sources. Due to the expanding use of ORC technology in a variety of applications, such as geothermal, waste heat recovery, and biomass, the market in this area is anticipated to rise. It is anticipated that rising consumer awareness of the benefits of energy-efficient systems would fuel this region's market revenue growth.

REGIONAL COVERAGE:

North America

  • US

  • Canada

  • Mexico

Europe

  • Eastern Europe

    • Poland

    • Romania

    • Hungary

    • Turkey

    • Rest of Eastern Europe

  • Western Europe

    • Germany

    • France

    • UK

    • Italy

    • Spain

    • Netherlands

    • Switzerland

    • Austria

    • Rest of Western Europe

Asia Pacific

  • China

  • India

  • Japan

  • South Korea

  • Vietnam

  • Singapore

  • Australia

  • Rest of Asia Pacific

Middle East & Africa

  • Middle East

    • UAE

    • Egypt

    • Saudi Arabia

    • Qatar

    • Rest of Middle East

  • Africa

    • Nigeria

    • South Africa

    • Rest of Africa

Latin America

  • Brazil

  • Argentina

  • Colombia

  • Rest of Latin America

RECENT DEVELOPMENT

  • In 2021, Veolia disclosed plans to acquire Matrix Technologies, a provider of waste heat recovery technologies. Veolia wanted to boost its position in the energy recovery sector and increase the range of products it offered in the ORC market through the purchase.   

  • Veolia introduced the ORC GEN 4.0 series of ORC modules in 2021. These modules may be utilised in a variety of sectors, including steel, glass, cement, and paper, and they are created to transform low-grade waste heat into power.

  • In March 2021, a study on the economic evaluation of the ORC power plant with low-temperature waste heat recovery was published in the International Journal of Low-Carbon Technologies. This investigation came to the conclusion that the ORC system's connection to thermal power plants helps to increase operating efficiency by cutting back on the use of fossil fuels.

KEY PLAYERS 

Turboden S.p.A., Exergy International Sr, Zhejiang Kaishan Compressor Co., Ltd., Enogia SAS, Triogen, Calnetix Technologies, LLC, ABB, Atlas Copco AB, TAS Energy Inc. (TAS), Elvosolar, a.s. and other players are listed in final report.

Exergy International Sr-Company Financial Analysis

Organic Rankine Cycle Market Report Scope:
Report Attributes Details
Market Size in 2022  US$ 830.20 Bn
Market Size by 2030  US$ 1084.79 Bn
CAGR   CAGR of 3.4% From 2023 to 2030
Base Year 2022
Forecast Period  2023-2030
Historical Data  2020-2021
Report Scope & Coverage Market Size, Segments Analysis, Competitive  Landscape, Regional Analysis, DROC & SWOT Analysis, Forecast Outlook
Key Segments • By Application, (Waste Heat Recovery, Biomass, Geothermal, Solar Thermal, Oil & Gas (Gas Pipeline)
Regional Analysis/Coverage North America (US, Canada, Mexico), Europe (Eastern Europe [Poland, Romania, Hungary, Turkey, Rest of Eastern Europe] Western Europe] Germany, France, UK, Italy, Spain, Netherlands, Switzerland, Austria, Rest of Western Europe]). Asia Pacific (China, India, Japan, South Korea, Vietnam, Singapore, Australia, Rest of Asia Pacific), Middle East & Africa (Middle East [UAE, Egypt, Saudi Arabia, Qatar, Rest of Middle East], Africa [Nigeria, South Africa, Rest of Africa], Latin America (Brazil, Argentina, Colombia Rest of Latin America)
Company Profiles Turboden S.p.A., Exergy International Sr, Zhejiang Kaishan Compressor Co., Ltd., Enogia SAS, Triogen, Calnetix Technologies, LLC, ABB, Atlas Copco AB, TAS Energy Inc. (TAS), Elvosolar, a.s.
Key Drivers • Strict emission standards
• Growing need for clean energy
• Growing use of renewable energy
Market Restraints • Waste heat recovery
• Solar thermal
• Supply deficit of raw material

 

Frequently Asked Questions

Ans: Organic Rankine Cycle Market is anticipated to expand by 3.4 % from 2023 to 2030.

Ans: USD 1084.79 billion is expected to grow by 2030.

Ans: Organic Rankine Cycle Market size was valued at USD 830.20 billion in 2022

Ans: Strict emission standards, Growing need for clean energy and Growing use of renewable energy

Ans: Availability of other alternative technologies and Waste Heat Recovery from Electric Vehicles

TABLE OF CONTENT

1. Introduction
1.1 Market Definition
1.2 Scope
1.3 Research Assumptions

2. Research Methodology

3. Market Dynamics
3.1 Drivers
3.2 Restraints
3.3 Opportunities
3.4 Challenges

4. Impact Analysis
4.1 Impact of the Ukraine- Russia war
4.2 Impact of ongoing Recession
4.2.1 Introduction
4.2.2 Impact on major economies
4.2.2.1 US
4.2.2.2 Canada
4.2.2.3 Germany
4.2.2.4 France
4.2.2.5 United Kingdom
4.2.2.6 China
4.2.2.7 Japan
4.2.2.8 South Korea
4.2.2.9 Rest of the World

5. Value Chain Analysis

6. Porter’s 5 forces model

7. PEST Analysis

8. Organic Rankine Cycle Market Segmentation, By Application
8.1Waste Heat Recovery
8.1.1Petroleum Refinery
8.1.2 Chemical
8.1.3Glass
8.1.4Cement
8.1.5Metal Production and Casting (Iron & Steel)
8.2Biomass
8.3Geothermal
8.4Solar Thermal
8.5Oil & Gas (Gas Pipeline Pressure Stations)
8.6Waste to Energy

9. Regional Analysis
9.1 Introduction
9.2 North America
9.2.1 North America Organic Rankine Cycle Market by Country
9.2.2 North America Organic Rankine Cycle Market by Application
9.2.3 USA
9.2.3.1 USA Organic Rankine Cycle Market by Application
9.2.4 Canada
9.2.4.1 Canada Organic Rankine Cycle Market by Application
9.2.5 Mexico
9.2.5.1 Mexico Organic Rankine Cycle Market by Application
9.3 Europe
9.3.1 Eastern Europe
9.3.1.1 Eastern Europe Organic Rankine Cycle Market by Country
9.3.1.2 Eastern Europe Organic Rankine Cycle Market by Application
9.3.1.3 Poland
9.3.1.4.1 Poland Organic Rankine Cycle Market by Application
9.3.1.4 Romania
9.3.1.4.1 Romania Organic Rankine Cycle Market by Application
9.3.1.5 Hungary
9.3.1.5.1 Hungary Organic Rankine Cycle Market by Application
9.3.1.6 Turkey
9.3.1.6.1 Turkey Organic Rankine Cycle Market by Application
9.3.1.7 Rest of Eastern Europe
9.3.1.7.1 Rest of Eastern Europe Organic Rankine Cycle Market by Application
9.3.2 Western Europe
9.3.2.1 Western Europe Organic Rankine Cycle Market by Country
9.3.2.2 Western Europe Organic Rankine Cycle Market by Application
9.3.2.3 Germany
9.3.2.3.1 Germany Organic Rankine Cycle Market by Application
9.3.2.4 France
9.3.2.4.1 France Organic Rankine Cycle Market by Application
9.3.2.5 UK
9.3.2.5.1 UK Organic Rankine Cycle Market by Application
9.3.2.6 Italy
9.3.2.6.1 Italy Organic Rankine Cycle Market by Application
9.3.2.7 Spain
9.3.2.7.1 Spain Organic Rankine Cycle Market by Application
9.3.2.8 Netherlands
9.3.2.8.1 Netherlands Organic Rankine Cycle Market by Application
9.3.2.9 Switzerland
9.3.2.9.1 Switzerland Organic Rankine Cycle Market by Application
9.3.2.10 Austria
9.3.2.10.1 Austria Organic Rankine Cycle Market by Application
9.3.2.11 Rest of Western Europe
9.3.2.11.1 Rest of Western Europe Organic Rankine Cycle Market by Application
9.4 Asia-Pacific
9.4.1 Asia Pacific Organic Rankine Cycle Market by Country
9.4.2 Asia Pacific Organic Rankine Cycle Market by Application
9.4.3 China
9.4.3.1 China Organic Rankine Cycle Market by Application
9.4.4 India
9.4.4.1 India Organic Rankine Cycle Market by Application
9.4.5 Japan
9.4.5.1 Japan Organic Rankine Cycle Market by Application
9.4.6 South Korea
9.4.6.1 South Korea Organic Rankine Cycle Market by Application
9.4.7 Vietnam
9.4.7.1 Vietnam Organic Rankine Cycle Market by Application
9.4.8 Singapore
9.4.8.1 Singapore Organic Rankine Cycle Market by Application
9.4.9 Australia
9.4.9.1 Australia Organic Rankine Cycle Market by Application
9.4.10 Rest of Asia-Pacific
9.4.10.1 Rest of Asia-Pacific Organic Rankine Cycle Market by Application
9.5 Middle East & Africa
9.5.1 Middle East
9.5.1.1 Middle East Organic Rankine Cycle Market by Country
9.5.1.2 Middle East Organic Rankine Cycle Market by Application
9.5.1.3 UAE
9.5.1.3.1 UAE Organic Rankine Cycle Market by Application
9.5.1.4 Egypt
9.5.1.4.1 Egypt Organic Rankine Cycle Market by Application
9.5.1.5 Saudi Arabia
9.5.1.5.1 Saudi Arabia Organic Rankine Cycle Market by Application
9.5.1.6 Qatar
9.5.1.6.1 Qatar Organic Rankine Cycle Market by Application
9.5.1.7 Rest of Middle East
9.5.1.7.1 Rest of Middle East Organic Rankine Cycle Market by Application
9.5.2 Africa
9.5.2.1 Africa Organic Rankine Cycle Market by Country
9.5.2.2 Africa Organic Rankine Cycle Market by Application
9.5.2.3 Nigeria
9.5.2.3.1 Nigeria Organic Rankine Cycle Market by Application
9.5.2.4 South Africa
9.5.2.4.1 South Africa Organic Rankine Cycle Market by Application
9.5.2.5 Rest of Africa
9.5.2.5.1 Rest of Africa Organic Rankine Cycle Market by Application
9.6 Latin America
9.6.1 Latin America Organic Rankine Cycle Market by Country
9.6.2 Latin America Organic Rankine Cycle Market by Application
9.6.3 Brazil
9.6.3.1 Brazil Organic Rankine Cycle Market by Application
9.6.4 Argentina
9.6.4.1 Argentina Organic Rankine Cycle Market by Application
9.6.5 Colombia
9.6.5.1 Colombia Organic Rankine Cycle Market by Application
9.6.6 Rest of Latin America
9.6.6.1 Rest of Latin America Organic Rankine Cycle Market by Application

10 Company Profile
10.1 Turboden S.p.A.
10.1.1 Company Overview
10.1.2 Financials
10.1.3 Product/Services Offered
10.1.4 SWOT Analysis
10.1.5 The SNS View
10.2 Exergy International Sr
10.2.1 Company Overview
10.2.2 Financials
10.2.3 Product/Services Offered
10.2.4 SWOT Analysis
10.2.5 The SNS View
10.3 Zhejiang Kaishan Compressor Co., Ltd.
10.3.1 Company Overview
10.3.2 Financials
10.3.3 Product/Services Offered
10.3.4 SWOT Analysis
10.3.5 The SNS View
10.4 Enogia SAS
10.4 Company Overview
10.4.2 Financials
10.4.3 Product/Services Offered
10.4.4 SWOT Analysis
10.4.5 The SNS View
10.5 Triogen
10.5.1 Company Overview
10.5.2 Financials
10.5.3 Product/Services Offered
10.5.4 SWOT Analysis
10.5.5 The SNS View
10.6 Calnetix Technologies
10.6.1 Company Overview
10.6.2 Financials
10.6.3 Product/Services Offered
10.6.4 SWOT Analysis
10.6.5 The SNS View
10.7 LLC
10.7.1 Company Overview
10.7.2 Financials
10.7.3 Product/Services Offered
10.7.4 SWOT Analysis
10.7.5 The SNS View
10.8 ABB
10.8.1 Company Overview
10.8.2 Financials
10.8.3 Product/Services Offered
10.8.4 SWOT Analysis
10.8.5 The SNS View
10.9 Atlas Copco AB
10.9.1 Company Overview
10.9.2 Financials
10.9.3 Product/Services Offered
10.9.4 SWOT Analysis
10.9.5 The SNS View
10.10 TAS Energy Inc. (TAS)
10.10.1 Company Overview
10.10.2 Financials
10.10.3 Product/Services Offered
10.10.4 SWOT Analysis
10.10.5 The SNS View
10.11 Elvosolar, a.s.
10.11.1 Company Overview
10.11.2 Financials
10.11.3 Product/Services Offered
10.11.4 SWOT Analysis
10.11.5 The SNS View

11. Competitive Landscape
11.1 Competitive Bench marking
11.2 Market Share Analysis
11.3 Recent Developments
11.3.1 Industry News
11.3.2 Company News
11.3.3 Mergers & Acquisitions

12. USE Cases and Best Practices

13. Conclusion

An accurate research report requires proper strategizing as well as implementation. There are multiple factors involved in the completion of good and accurate research report and selecting the best methodology to compete the research is the toughest part. Since the research reports we provide play a crucial role in any company’s decision-making process, therefore we at SNS Insider always believe that we should choose the best method which gives us results closer to reality. This allows us to reach at a stage wherein we can provide our clients best and accurate investment to output ratio.

Each report that we prepare takes a timeframe of 350-400 business hours for production. Starting from the selection of titles through a couple of in-depth brain storming session to the final QC process before uploading our titles on our website we dedicate around 350 working hours. The titles are selected based on their current market cap and the foreseen CAGR and growth.

 

The 5 steps process:

Step 1: Secondary Research:

Secondary Research or Desk Research is as the name suggests is a research process wherein, we collect data through the readily available information. In this process we use various paid and unpaid databases which our team has access to and gather data through the same. This includes examining of listed companies’ annual reports, Journals, SEC filling etc. Apart from this our team has access to various associations across the globe across different industries. Lastly, we have exchange relationships with various university as well as individual libraries.

Secondary Research

Step 2: Primary Research

When we talk about primary research, it is a type of study in which the researchers collect relevant data samples directly, rather than relying on previously collected data.  This type of research is focused on gaining content specific facts that can be sued to solve specific problems. Since the collected data is fresh and first hand therefore it makes the study more accurate and genuine.

We at SNS Insider have divided Primary Research into 2 parts.

Part 1 wherein we interview the KOLs of major players as well as the upcoming ones across various geographic regions. This allows us to have their view over the market scenario and acts as an important tool to come closer to the accurate market numbers. As many as 45 paid and unpaid primary interviews are taken from both the demand and supply side of the industry to make sure we land at an accurate judgement and analysis of the market.

This step involves the triangulation of data wherein our team analyses the interview transcripts, online survey responses and observation of on filed participants. The below mentioned chart should give a better understanding of the part 1 of the primary interview.

Primary Research

Part 2: In this part of primary research the data collected via secondary research and the part 1 of the primary research is validated with the interviews from individual consultants and subject matter experts.

Consultants are those set of people who have at least 12 years of experience and expertise within the industry whereas Subject Matter Experts are those with at least 15 years of experience behind their back within the same space. The data with the help of two main processes i.e., FGDs (Focused Group Discussions) and IDs (Individual Discussions). This gives us a 3rd party nonbiased primary view of the market scenario making it a more dependable one while collation of the data pointers.

Step 3: Data Bank Validation

Once all the information is collected via primary and secondary sources, we run that information for data validation. At our intelligence centre our research heads track a lot of information related to the market which includes the quarterly reports, the daily stock prices, and other relevant information. Our data bank server gets updated every fortnight and that is how the information which we collected using our primary and secondary information is revalidated in real time.

Data Bank Validation

Step 4: QA/QC Process

After all the data collection and validation our team does a final level of quality check and quality assurance to get rid of any unwanted or undesired mistakes. This might include but not limited to getting rid of the any typos, duplication of numbers or missing of any important information. The people involved in this process include technical content writers, research heads and graphics people. Once this process is completed the title gets uploader on our platform for our clients to read it.

Step 5: Final QC/QA Process:

This is the last process and comes when the client has ordered the study. In this process a final QA/QC is done before the study is emailed to the client. Since we believe in giving our clients a good experience of our research studies, therefore, to make sure that we do not lack at our end in any way humanly possible we do a final round of quality check and then dispatch the study to the client.

Start a Conversation

Hi! Click one of our member below to chat on Phone