Organic Rankine Cycle Market Outlook, Growth Opportunities, and Strategic Insights 2035

Market Outlook and Forecast

The organic rankine cycle (ORC) market is emerging as a pivotal segment within the renewable energy and waste heat recovery industry, offering efficient solutions for converting low- to medium-temperature heat into electrical power. Valued at USD 795.26 million in 2025, the market is expected to reach USD 1.4 billion by 2035, reflecting steady growth driven by the increasing focus on sustainable energy solutions, industrial decarbonization, and the rising adoption of low-carbon electricity generation technologies.

The organic rankine cycle operates by utilizing organic fluids with low boiling points to convert waste heat, geothermal energy, biomass, and solar thermal energy into electricity. Its versatility and adaptability make ORC systems suitable for power plants, industrial facilities, and remote or off-grid locations. The technology's ability to harness energy from low-temperature sources positions it as a cost-effective and environmentally friendly alternative to conventional steam-based power generation systems.

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Regional Performance Highlights

North America is anticipated to dominate the ORC market, capturing approximately 40% share by 2035, driven by advanced industrial infrastructure, regulatory support for renewable energy, and large-scale adoption of waste heat recovery systems. The United States, in particular, benefits from abundant industrial and geothermal resources, alongside strong governmental incentives promoting energy efficiency projects. Expansion of decentralized power generation and combined heat and power (CHP) applications further supports regional market growth.

Europe is experiencing steady market development, projected to account for 18% of global market share by 2035. The region's stringent carbon emission targets, strong focus on energy efficiency, and growth in geothermal energy projects are fueling the adoption of ORC systems. Countries like Germany, Italy, and Iceland are leading the deployment of ORC plants in industrial, biomass, and geothermal energy sectors.

Asia Pacific is emerging as a high-growth region due to rapid industrialization, expanding geothermal exploration, and growing energy demand in countries such as China, Japan, and India. Government initiatives to promote renewable energy, along with the increasing focus on waste heat recovery in manufacturing and process industries, are driving ORC adoption across the region.

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Market Segmentation

The power output segment is projected to capture 50% share by 2035, reflecting the growing adoption of small-scale ORC systems for decentralized power generation, industrial waste heat recovery, and remote energy solutions. These smaller systems are preferred for their modularity, ease of installation, and ability to recover low-temperature heat from diverse sources.

The geothermal segment dominates the market with an estimated 47% revenue share by 2035, highlighting the significance of ORC technology in harnessing geothermal energy for electricity generation. ORC systems offer efficient and environmentally friendly solutions for low-enthalpy geothermal resources, enabling consistent power supply without significant environmental impact.

ORC technology is also increasingly applied across biomass, solar thermal, and industrial waste heat recovery sectors. Its flexibility allows energy producers to convert previously untapped heat into usable electricity, contributing to overall energy efficiency, operational cost reduction, and sustainability goals.

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Top Market Trends

1. Growth of Waste Heat Recovery Applications

Waste heat recovery is one of the most significant drivers transforming the ORC market. Industries such as cement, steel, glass, and chemical manufacturing generate substantial low- to medium-temperature heat, which can be efficiently converted into electricity using ORC systems. The trend toward energy efficiency and operational cost reduction is encouraging widespread adoption.

For example, Turboden, a global ORC solutions provider, recently partnered with a major European steel manufacturer to implement ORC-based waste heat recovery systems, significantly reducing energy costs while lowering carbon emissions.

2. Integration with Geothermal and Renewable Energy Projects

ORC technology is increasingly deployed in geothermal power plants and biomass-based energy facilities. Its ability to generate electricity from low-temperature geothermal sources positions it as a key enabler in the renewable energy transition. Additionally, hybrid systems combining ORC with solar thermal or biogas facilities are gaining traction for their improved efficiency and reliability.

For example, Enertime, a leading ORC company, expanded its geothermal project portfolio in Iceland and Italy, supplying modular ORC units optimized for low-enthalpy geothermal plants.

3. Digitalization and Smart Control Systems

The adoption of digital monitoring, predictive maintenance, and smart control systems is transforming ORC plant operations. Real-time monitoring of fluid temperatures, pressures, and system efficiency ensures optimal performance, reduces downtime, and enhances energy output. The integration of IoT and cloud-based analytics is enabling operators to maximize energy recovery from diverse heat sources.

For example, ABB introduced advanced ORC plant control systems that leverage digital twin technology to optimize efficiency and predictive maintenance, providing operational insights across multiple industrial sites.

4. Sustainability and Decarbonization Focus

The global emphasis on carbon neutrality and sustainability is a key driver for ORC adoption. Companies are actively seeking solutions to reduce greenhouse gas emissions while improving energy efficiency. ORC systems provide a reliable means of converting otherwise wasted energy into clean electricity, aligning with corporate decarbonization targets and regulatory requirements.

For example, Mitsubishi Heavy Industries recently deployed ORC units at a biomass plant in Japan, enhancing renewable energy output while reducing reliance on fossil fuels.

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Recent Company Developments

The ORC market is marked by strategic expansions, partnerships, product launches, and innovation-driven investments aimed at strengthening technology capabilities and global reach. Key developments from leading companies over the past 12 months include:

1. Turboden - Expanded its portfolio of industrial waste heat recovery ORC plants in Europe and Asia, enhancing efficiency and modular deployment capabilities.

2. Enertime - Launched new ORC units optimized for small-scale geothermal projects in Europe, emphasizing low-temperature efficiency.

3. Mitsubishi Heavy Industries - Commissioned ORC units for biomass and industrial heat recovery projects in Japan, advancing clean energy adoption.

4. Ormat Technologies - Partnered with a U.S.-based utility to implement ORC solutions in low-enthalpy geothermal plants, boosting renewable energy output.

5. ElectraTherm - Expanded its ORC product line for distributed power generation, targeting industrial facilities and remote energy applications.

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This release was published on openPR.