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 the 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.
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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:
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.
By Application
Waste Heat Recovery
Petroleum Refinery
Chemical
Glass
Cement
Metal Production and Casting (Iron & Steel)
Solar Thermal
Oil & Gas (Gas Pipeline Pressure Stations)
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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
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.
The Major Players are 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
| 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 |
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 CONTENTS
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 Benchmarking
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
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