What Does the Historical and Current Organic Rankine Cycle Market Size Trend Indicate?
The organic rankine cycle market has seen considerable growth due to a variety of factors.
• The market for organic rankine cycle has seen a considerable expansion in recent years. The market value is projected to increase from $0.7 billion in 2024 to $0.75 billion in 2025, with an impressive compound annual growth rate (CAGR) of 7.3%.
The upsurge in the historical period can be linked to the rising demand for renewable energy alternatives, industrialization growth, a surge in worldwide energy needs, the escalated adoption of orc systems and the government's encouragement of sustainable energy methods.
What is the Market Size Forecast for the Organic Rankine Cycle Market?
The organic rankine cycle market is expected to maintain its strong growth trajectory in upcoming years.
• The market size of the organic rankine cycle is projected to witness substantial growth in the coming years, swelling to a value of $0.98 billion by 2029, with a compound annual growth rate (CAGR) of 6.9%.
The increased collaborations across different sectors, enhanced focus on energy efficiency, expanding electric vehicle (EV) applications, increased emphasis on curbing greenhouse gas emissions, and a rising environmental consciousness can be credited for this ascension in the forecast period. The significant trends expected in this forecast duration includes progress in technology, incorporation of renewable energy, integration of energy storage, attention towards low-temperature sources, and governmental incentives.
What Factors Are Driving Growth In The Organic Rankine Cycle Market?
The increasing need for sources of renewable energy is predicted to fuel the expansion of the organic rankine cycle market in the future. Renewable energy comes from naturally occurring resources, including sunlight, wind, rain, tidal forces, and geothermal heat, which all naturally replenish and sustain over time. The rising demand for such sources of energy stems from the necessity to lower greenhouse gas emissions, respond to climate change, and guarantee a sustainable energy provision for the future. Organic rankine cycle (ORC) technology forms a key part of this renewable energy landscape, transforming low-temperature heat from geothermal, biomass, and solar thermal sources into electric power, thereby boosting the efficiency and feasibility of these renewable energy systems. To illustrate, data from the Energy Information Administration (EIA), a governmental administration in the U.S., predicts a 75% increase in solar energy generation in the U.S., from 163 billion kWh in 2023 to 286 billion kWh by 2025. Similarly, they anticipate an 11% rise in wind power generation, from 430 billion kWh in 2023 to 476 billion kWh in 2025. As such, the escalating demand for sources of renewable energy is set to stimulate the growth of the organic rankine cycle market.
What Are The Major Segments Within The Organic Rankine Cycle Market?
The organic rankine cycle market covered in this report is segmented –
1) By Model: Dynamic, Steady-State
2) By Fluid Type: Hydrocarbon-Based ORC Systems, Siloxane-Based ORC Systems, Other Fluid Types
3) By Power Output: = 1 MWe, > 1 - 5 MWe, > 5 - 10 MWe, > 10 MWe
4) By Capacity: Small-Scale ORC Systems, Medium-Scale ORC Systems, Large-Scale ORC Systems
5) By Application: Waste Heat Recovery, Geothermal, Biomass, Oil And Gas, Waste To Energy, Solar Thermal
Subsegments:
1) By Dynamic Model: Real-Time Performance Simulation, Transient State Analysis, Dynamic Load Tracking Systems, Control System Modeling, Start-Up And Shut-Down Dynamics, Adaptive Control Systems
2) By Steady-State Model: Thermodynamic Cycle Modeling, Energy Efficiency Analysis, Constant Load Operation Systems, Heat Exchanger Design And Optimization, Performance Optimization At Fixed Operating Conditions, System Stability And Thermal Balance Analysis
Pre-Book The Organic Rankine Cycle Global Market Report 2025 Report For Swift Delivery And Comprehensive Insights:
Which Trends Are Expected To Transform The Organic Rankine Cycle Market?
Leading businesses in the organic rankine cycle market are focusing on integrating innovative technologies such as waste heat recovery systems to boost energy efficiency, lower emissions, and leverage waste heat from industrial activities for green power production. Waste heat recovery systems are an advanced technology that capture and transform waste heat from industrial operations into electric power, enhancing energy efficiency and reducing overall emissions. For example, Alfa Laval AB, an industrial machinery production company based in Sweden, introduced the E-PowerPack in March 2022. This organic rankine cycle (ORC) based waste heat recovery system for ships transforms waste heat directly into electrical power. It is a comprehensive unit designed to enhance a ship's energy efficiency existing ship index (EEXI) and carbon intensity indicator (CII), making it attractive to ship owners looking for sustainability and compliance with regulations. By producing power from waste heat, the E-Powerpack decreases fuel usage and CO2 emissions, leading to significant fuel savings and a more favorable CII rating. Its modular structure delivers up to 100 kW or 200 kW of net electrical output, and can be integrated into larger systems. It is compatible with all kinds of ships and marine fuels, including future fuels like green methanol and ammonia.
Who Are the Key Players in the Organic Rankine Cycle Market?
Major companies operating in the organic rankine cycle market are include:
•General Electric Company
• Siemens Energy AG
• Mitsubishi Heavy Industries Ltd.
• Asea Brown Boveri Ltd.
• Baker Hughes Company
• Atlas Copco AB
• Kawasaki Heavy Industries Ltd.
• IHI Corporation
• Alfa Laval AB
• Dürr AG
• Ormat Technologies Inc.
• Exergy International Srl
• Turboden S.p.A.
• Calnetix Technologies LLC
• TAS Energy Inc.
• ORCAN ENERGY AG
• Kaishan USA
• Triogen Limited
• Elvosolar a.s.
• Enertime S.A.
• INTEC GMK GmbH
• Climeon AB
• Enogia S.A.
What Is The Most Dominant Region In The Organic Rankine Cycle Market?
North America was the largest region in the organic rankine cycle 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 market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
