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.
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.
Waste heat recovery
Supply deficit of raw material
Growing adoption in renewable energy
Developing economic ORC manufactures
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
Waste Heat Recovery
Metal Production and Casting (Iron & Steel)
Oil & Gas (Gas Pipeline Pressure Stations)
Waste to Energy
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.
Rest of Eastern Europe
Rest of Western Europe
Rest of Asia Pacific
Middle East & Africa
Rest of Middle East
Rest of Africa
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.
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.
|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|
|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 CONTENT
1.1 Market Definition
1.3 Research Assumptions
2. Research Methodology
3. Market Dynamics
4. Impact Analysis
4.1 Impact of the Ukraine- Russia war
4.2 Impact of ongoing Recession
4.2.2 Impact on major economies
18.104.22.168 United Kingdom
22.214.171.124 South Korea
126.96.36.199 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
8.1.5Metal Production and Casting (Iron & Steel)
8.5Oil & Gas (Gas Pipeline Pressure Stations)
8.6Waste to Energy
9. Regional Analysis
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
188.8.131.52 USA Organic Rankine Cycle Market by Application
184.108.40.206 Canada Organic Rankine Cycle Market by Application
220.127.116.11 Mexico Organic Rankine Cycle Market by Application
9.3.1 Eastern Europe
18.104.22.168 Eastern Europe Organic Rankine Cycle Market by Country
22.214.171.124 Eastern Europe Organic Rankine Cycle Market by Application
126.96.36.199.1 Poland Organic Rankine Cycle Market by Application
188.8.131.52.1 Romania Organic Rankine Cycle Market by Application
184.108.40.206.1 Hungary Organic Rankine Cycle Market by Application
220.127.116.11.1 Turkey Organic Rankine Cycle Market by Application
18.104.22.168 Rest of Eastern Europe
22.214.171.124.1 Rest of Eastern Europe Organic Rankine Cycle Market by Application
9.3.2 Western Europe
126.96.36.199 Western Europe Organic Rankine Cycle Market by Country
188.8.131.52 Western Europe Organic Rankine Cycle Market by Application
184.108.40.206.1 Germany Organic Rankine Cycle Market by Application
220.127.116.11.1 France Organic Rankine Cycle Market by Application
18.104.22.168.1 UK Organic Rankine Cycle Market by Application
22.214.171.124.1 Italy Organic Rankine Cycle Market by Application
126.96.36.199.1 Spain Organic Rankine Cycle Market by Application
188.8.131.52.1 Netherlands Organic Rankine Cycle Market by Application
184.108.40.206.1 Switzerland Organic Rankine Cycle Market by Application
220.127.116.11.1 Austria Organic Rankine Cycle Market by Application
18.104.22.168 Rest of Western Europe
22.214.171.124.1 Rest of Western Europe Organic Rankine Cycle Market by Application
9.4.1 Asia Pacific Organic Rankine Cycle Market by Country
9.4.2 Asia Pacific Organic Rankine Cycle Market by Application
126.96.36.199 China Organic Rankine Cycle Market by Application
188.8.131.52 India Organic Rankine Cycle Market by Application
184.108.40.206 Japan Organic Rankine Cycle Market by Application
9.4.6 South Korea
220.127.116.11 South Korea Organic Rankine Cycle Market by Application
18.104.22.168 Vietnam Organic Rankine Cycle Market by Application
22.214.171.124 Singapore Organic Rankine Cycle Market by Application
126.96.36.199 Australia Organic Rankine Cycle Market by Application
9.4.10 Rest of Asia-Pacific
188.8.131.52 Rest of Asia-Pacific Organic Rankine Cycle Market by Application
9.5 Middle East & Africa
9.5.1 Middle East
184.108.40.206 Middle East Organic Rankine Cycle Market by Country
220.127.116.11 Middle East Organic Rankine Cycle Market by Application
18.104.22.168.1 UAE Organic Rankine Cycle Market by Application
22.214.171.124.1 Egypt Organic Rankine Cycle Market by Application
126.96.36.199 Saudi Arabia
188.8.131.52.1 Saudi Arabia Organic Rankine Cycle Market by Application
184.108.40.206.1 Qatar Organic Rankine Cycle Market by Application
220.127.116.11 Rest of Middle East
18.104.22.168.1 Rest of Middle East Organic Rankine Cycle Market by Application
22.214.171.124 Africa Organic Rankine Cycle Market by Country
126.96.36.199 Africa Organic Rankine Cycle Market by Application
188.8.131.52.1 Nigeria Organic Rankine Cycle Market by Application
184.108.40.206 South Africa
220.127.116.11.1 South Africa Organic Rankine Cycle Market by Application
18.104.22.168 Rest of Africa
22.214.171.124.1 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
126.96.36.199 Brazil Organic Rankine Cycle Market by Application
188.8.131.52 Argentina Organic Rankine Cycle Market by Application
184.108.40.206 Colombia Organic Rankine Cycle Market by Application
9.6.6 Rest of Latin America
220.127.116.11 Rest of Latin America Organic Rankine Cycle Market by Application
10 Company Profile
10.1 Turboden S.p.A.
10.1.1 Company Overview
10.1.3 Product/Services Offered
10.1.4 SWOT Analysis
10.1.5 The SNS View
10.2 Exergy International Sr
10.2.1 Company Overview
10.2.3 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
10.3.3 Product/Services Offered
10.3.4 SWOT Analysis
10.3.5 The SNS View
10.4 Enogia SAS
10.4 Company Overview
10.4.3 Product/Services Offered
10.4.4 SWOT Analysis
10.4.5 The SNS View
10.5.1 Company Overview
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
10.6.3 Product/Services Offered
10.6.4 SWOT Analysis
10.6.5 The SNS View
10.7.1 Company Overview
10.7.3 Product/Services Offered
10.7.4 SWOT Analysis
10.7.5 The SNS View
10.8.1 Company Overview
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
10.9.3 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
10.10.3 Product/Services Offered
10.10.4 SWOT Analysis
10.10.5 The SNS View
10.11 Elvosolar, a.s.
10.11.1 Company Overview
10.11.3 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
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