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Organic Rankine Cycle (ORC) Waste Heat To Power Market: Major Trends Reshaping the Future of the Industry
Organic Rankine Cycle (ORC) Waste Heat To Power Market
What Will the Organic Rankine Cycle (ORC) Waste Heat To Power Industry Market Size Be by 2025?
There has been significant growth in the market size for the organic rankine cycle (orc) waste heat to power, increasing swiftly in recent years. It is projected to increase from a value of $3.16 billion in 2024 to $3.64 billion in 2025, displaying a compound annual growth rate (CAGR) of 15.3%. This past growth was prompted by a rise in demand for off-grid power generation, augmented waste heat produced by heavy industries, an escalating emphasis on eco-friendly manufacturing processes, a growing necessity to lessen the cost of operational energy, and an upswing in fuel prices.
What's the Long-Term Growth Forecast for the Organic Rankine Cycle (ORC) Waste Heat To Power Market Size Through 2029?
The market size for the organic rankine cycle (orc) for waste heat to power is set to experience accelerated growth in the coming years, with estimations predicting it will reach $6.37 billion in 2029, boasting a compound annual growth rate (CAGR) of 15.0%. The surge during the forecasted period is due to factors such as increasing need for clean energy alternatives, surge in investments related to industrial waste heat recovery, heightened attention towards achieving carbon neutrality goals, growing preference for cutting-edge manufacturing methods, and reinforced government guidelines boosting energy efficiency. Major trends influencing the forecast period encompasses the progression of low-temperature ORC technology, the emergence of advanced modular ORC system plans, the discovery of more efficient working fluids, the integration of ORC with solar thermal and geothermal plants, and the progress in digital supervision and control systems.
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What Are the Key Growth Drivers Fueling the Organic Rankine Cycle (ORC) Waste Heat To Power Market Expansion?
The growth of the organic rankine cycle (ORC) waste heat to power market is anticipated to be fueled by the escalating acceptance of renewable energy resources. These resources, such as sunlight, wind, and geothermal heat, replenish naturally and offer clean, sustainable power that doesn't exhaust the environment. The increasing worldwide demand for pure, sustainable fossil fuel alternatives to address climate change mainly pushes this upward trend of renewable energy resources. The ORC waste heat to power approach bolsters renewable energy resources by effectively converting industrial or geothermal low-grade heat into electricity. This conversion further optimizes energy recovery and sustainability. For example, the US non-profit organization, the World Resources Institute, reported in February 2025 that solar energy added an estimated 39.6 gigawatts (GW) of capacity in 2024, breaking its previous record of 27.4 GW installed in 2023. Therefore, the surging acceptance of renewable energy resources propels the growth of the ORC waste heat to power market.
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What Are the Key Trends Driving Organic Rankine Cycle (ORC) Waste Heat To Power Market Growth?
Major players in the Organic Rankine Cycle (ORC) waste heat to power market are concentrating their efforts on creating innovative solutions like the marine-optimized ORC system. This system is crucial in the successful recovery of low-temperature waste heat, emissions reduction, and ensuring that vessels meet environmental laws while reducing operational costs. The marine-optimized ORC system is a custom-made organic Rankine Cycle technology meant for marine settings. Its role is to transform onboard waste heat into clean electricity which boosts energy efficiency and decreases emissions on ships. For example, Climeon AB, an energy firm based in Sweden, launched the Climeon Heat Power 300 Marine in April 2022 that utilizes the ORC technology to change waste heat into clean electricity. This next-gen waste heat recovery system stands out because of its compact and modular design which makes it easily integrated into new constructions and retrofitting of cruise ships. One of its unique features is its ability to operate efficiently, regardless of a wide range of temperatures and engine loads. This extends the power output from previously underused low-temperature heat sources. The HeatPower 300 also includes enhanced automation and remote monitoring facilities allowing for immediate performance optimization and lesser dependence on manual intervention.
How Is the Organic Rankine Cycle (ORC) Waste Heat To Power Market Segmented?
The organic rankine cycle (ORC) waste heat to power market covered in this report is segmented -
1) By Model: Steady-State, Dynamic
2) By Technology: Organic Rankine Cycle (ORC), Kalina Cycle, Steam Rankine Cycle, Combined Heat And Power (CHP)
3) By Power Output: ≤ 1 Megawatt Electrical, > 1 - 5 Megawatt Electrical, > 5 - 10 Megawatt Electrical, > 10 Megawatt Electrical
4) By Application: Internal Combustion Engines (ICE) Or Gas Turbine, Waste To Energy, Metal Production, Cement And Lime Industry, Glass Industry, Petroleum Refining, Chemical Industry, Landfill Internal Combustion Engines (ICE)
5) By End-User Industry: Manufacturing And Industrial Sector, Energy Generation And Utilities, Chemical And Petrochemical, Food And Beverage, Automotive
Subsegments:
1) By Steady-State: Closed Loop Systems, Open Loop Systems, Geothermal Applications, Industrial Process Heat Recovery
2) By Dynamic: Transient Analysis Systems, Real-Time Simulation Systems, Hybrid Systems, Fluctuating Heat Source Applications
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Which Companies Are Leading the Charge in Organic Rankine Cycle (ORC) Waste Heat To Power Market Innovation?
Major companies operating in the organic rankine cycle (ORC) waste heat to power market are General Electric Power, Siemens Energy AG, Mitsubishi Heavy Industries Ltd., Baker Hughes Company, Atlas Copco AB, GEA Group AG, Alfa Laval AB, Dürr Cyplan GmbH, Ormat Technologies Inc., Exergy S.p.A, GMK Energy Co. Ltd., Turboden S.p.A, ElectraTherm Inc., Calnetix Technologies LLC, Orcan Energy AG, Enogia Société Anonyme, Infinity Turbine LLC, Triogen B.V., Enertime S.A., Zuccato Energia S.r.l., Kaishan ORC Energy Equipment Co. Ltd.
Which Regions Are Leading the Global Organic Rankine Cycle (ORC) Waste Heat To Power Market in Revenue?
North America was the largest region in the organic rankine cycle (ORC) waste heat to power 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 (ORC) waste heat to power market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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