The global market for Organic Rankine Cycle was valued at US$570.0 Million in 2024 and is projected to reach US$1.7 Billion by 2030, growing at a CAGR of 20.3% from 2024 to 2030. This comprehensive report provides an in-depth analysis of market trends, drivers, and forecasts, helping you make informed business decisions. The report includes the most recent global tariff developments and how they impact the Organic Rankine Cycle market.
In industries where excess heat is a byproduct - such as manufacturing, power generation, and chemical processing - the implementation of ORC technology can significantly enhance energy efficiency. By converting this waste heat into additional power, facilities can reduce their energy costs and carbon footprints, supporting sustainability initiatives. The flexibility of the ORC also makes it an attractive option for renewable energy projects, such as geothermal and solar thermal plants, where it can boost efficiency and output without the need for additional natural resources. Furthermore, the adoption of ORC systems in these applications promotes a more stable and reliable energy supply, particularly in remote or off-grid areas, enhancing energy security and providing consistent power in regions with limited infrastructure.
The growth in the Organic Rankine Cycle market is driven by several factors. Increasing global awareness and regulatory pressures regarding environmental impact have prompted industries to adopt cleaner and more energy-efficient technologies. ORC systems, with their ability to recycle waste heat and reduce greenhouse gas emissions, are particularly well-positioned to meet these needs. Technological advancements have also played a crucial role, as improvements in ORC efficiency and the development of more robust and adaptable systems have broadened their applicability across diverse thermal conditions and industrial settings. Additionally, economic incentives such as grants, tax benefits, and favorable government policies aimed at promoting energy efficiency and renewable energy utilization have accelerated the deployment of ORC systems worldwide. Moreover, as energy prices continue to rise, the economic case for implementing ORC technology to reduce dependency on purchased power becomes even more compelling, driving further investment into this efficient and sustainable energy solution.
Segments: Application (Geothermal, Waste Heat Recovery, Other Applications).
Geographic Regions/Countries: World; USA; Canada; Europe; Germany; Italy; Turkey; Rest of Europe; Asia-Pacific; Rest of World.
The analysts continuously track trade developments worldwide, drawing insights from leading global economists and over 200 industry and policy institutions, including think tanks, trade organizations, and national economic advisory bodies. This intelligence is integrated into forecasting models to provide timely, data-driven analysis of emerging risks and opportunities.
Abstract:
Global Organic Rankine Cycle Market to Reach US$1.7 Billion by 2030
The global market for Organic Rankine Cycle estimated at US$570.0 Million in the year 2024, is expected to reach US$1.7 Billion by 2030, growing at a CAGR of 20.3% over the analysis period 2024-2030. Geothermal, one of the segments analyzed in the report, is expected to record a 20.6% CAGR and reach US$1.4 Billion by the end of the analysis period. Growth in the Waste Heat Recovery segment is estimated at 18.3% CAGR over the analysis period.Global CP22435 Organic Rankine Cycle Market - Key Trends and Drivers Summarized
The Organic Rankine Cycle (ORC) is a thermodynamic process that converts thermal energy into mechanical power, which can then be converted into electricity. This process utilizes organic fluids with a lower boiling point than water, making it especially suited for harnessing heat from low-temperature sources such as geothermal heat, biomass combustion, industrial waste heat, and solar thermal energy. The ORC operates similarly to a traditional steam turbine, but because it can work effectively at lower temperatures and with smaller temperature differences, it provides a practical solution for capturing and utilizing residual heat that would otherwise be wasted.In industries where excess heat is a byproduct - such as manufacturing, power generation, and chemical processing - the implementation of ORC technology can significantly enhance energy efficiency. By converting this waste heat into additional power, facilities can reduce their energy costs and carbon footprints, supporting sustainability initiatives. The flexibility of the ORC also makes it an attractive option for renewable energy projects, such as geothermal and solar thermal plants, where it can boost efficiency and output without the need for additional natural resources. Furthermore, the adoption of ORC systems in these applications promotes a more stable and reliable energy supply, particularly in remote or off-grid areas, enhancing energy security and providing consistent power in regions with limited infrastructure.
The growth in the Organic Rankine Cycle market is driven by several factors. Increasing global awareness and regulatory pressures regarding environmental impact have prompted industries to adopt cleaner and more energy-efficient technologies. ORC systems, with their ability to recycle waste heat and reduce greenhouse gas emissions, are particularly well-positioned to meet these needs. Technological advancements have also played a crucial role, as improvements in ORC efficiency and the development of more robust and adaptable systems have broadened their applicability across diverse thermal conditions and industrial settings. Additionally, economic incentives such as grants, tax benefits, and favorable government policies aimed at promoting energy efficiency and renewable energy utilization have accelerated the deployment of ORC systems worldwide. Moreover, as energy prices continue to rise, the economic case for implementing ORC technology to reduce dependency on purchased power becomes even more compelling, driving further investment into this efficient and sustainable energy solution.
Report Scope
The report analyzes the Organic Rankine Cycle market, presented in terms of units. The analysis covers the key segments and geographic regions outlined below.Segments: Application (Geothermal, Waste Heat Recovery, Other Applications).
Geographic Regions/Countries: World; USA; Canada; Europe; Germany; Italy; Turkey; Rest of Europe; Asia-Pacific; Rest of World.
Key Insights:
- Market Growth: Understand the significant growth trajectory of the Geothermal segment, which is expected to reach US$1.4 Billion by 2030 with a CAGR of a 20.6%. The Waste Heat Recovery segment is also set to grow at 18.3% CAGR over the analysis period.
Why You Should Buy This Report:
- Detailed Market Analysis: Access a thorough analysis of the Global Organic Rankine Cycle Market, covering all major geographic regions and market segments.
- Competitive Insights: Get an overview of the competitive landscape, including the market presence of major players across different geographies.
- Future Trends and Drivers: Understand the key trends and drivers shaping the future of the Global Organic Rankine Cycle Market.
- Actionable Insights: Benefit from actionable insights that can help you identify new revenue opportunities and make strategic business decisions.
Key Questions Answered:
- How is the Global Organic Rankine Cycle Market expected to evolve by 2030?
- What are the main drivers and restraints affecting the market?
- Which market segments will grow the most over the forecast period?
- How will market shares for different regions and segments change by 2030?
- Who are the leading players in the market, and what are their prospects?
Report Features:
- Comprehensive Market Data: Independent analysis of annual sales and market forecasts in US$ Million from 2024 to 2030.
- In-Depth Regional Analysis: Detailed insights into key markets, including the U.S., China, Japan, Canada, Europe, Asia-Pacific, Latin America, Middle East, and Africa.
- Company Profiles: Coverage of players such as Toshiba Corporation, General Electric Company, Siemens Energy AG, Toshiba Mitsubishi Electric Industrial Systems Co., Ltd., Barber-Nichols, Inc. and more.
- Complimentary Updates: Receive free report updates for one year to keep you informed of the latest market developments.
Some of the 48 companies featured in this Organic Rankine Cycle market report include:
- Toshiba Corporation
- General Electric Company
- Siemens Energy AG
- Toshiba Mitsubishi Electric Industrial Systems Co., Ltd.
- Barber-Nichols, Inc.
- Enogia, Sas
- R&D Dynamics Corporation
- Air Squared, Inc.
- Sigma Thermal
- ElectraTherm, Inc.
- Entropea Labs Limited
- Opel Energy Systems Private Limited
- TransPacific Energy, Inc.
- Turboden SPA
- Boustead International Heaters Limited
Tariff Impact Analysis: Key Insights for 2025
Global tariff negotiations across 180+ countries are reshaping supply chains, costs, and competitiveness. This report reflects the latest developments as of April 2025 and incorporates forward-looking insights into the market outlook.The analysts continuously track trade developments worldwide, drawing insights from leading global economists and over 200 industry and policy institutions, including think tanks, trade organizations, and national economic advisory bodies. This intelligence is integrated into forecasting models to provide timely, data-driven analysis of emerging risks and opportunities.
What’s Included in This Edition:
- Tariff-adjusted market forecasts by region and segment
- Analysis of cost and supply chain implications by sourcing and trade exposure
- Strategic insights into geographic shifts
Buyers receive a free July 2025 update with:
- Finalized tariff impacts and new trade agreement effects
- Updated projections reflecting global sourcing and cost shifts
- Expanded country-specific coverage across the industry
Table of Contents
I. METHODOLOGYII. EXECUTIVE SUMMARY2. FOCUS ON SELECT PLAYERSIII. MARKET ANALYSISIV. COMPETITION
1. MARKET OVERVIEW
3. MARKET TRENDS & DRIVERS
4. GLOBAL MARKET PERSPECTIVE
UNITED STATES
CANADA
EUROPE
GERMANY
ITALY
TURKEY
REST OF EUROPE
ASIA-PACIFIC
REST OF WORLD
Companies Mentioned (Partial List)
A selection of companies mentioned in this report includes, but is not limited to:
- Toshiba Corporation
- General Electric Company
- Siemens Energy AG
- Toshiba Mitsubishi Electric Industrial Systems Co., Ltd.
- Barber-Nichols, Inc.
- Enogia, Sas
- R&D Dynamics Corporation
- Air Squared, Inc.
- Sigma Thermal
- ElectraTherm, Inc.
- Entropea Labs Limited
- Opel Energy Systems Private Limited
- TransPacific Energy, Inc.
- Turboden SPA
- Boustead International Heaters Limited
Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 194 |
| Published | May 2025 |
| Forecast Period | 2024 - 2030 |
| Estimated Market Value ( USD | $ 570 Million |
| Forecasted Market Value ( USD | $ 1700 Million |
| Compound Annual Growth Rate | 20.3% |
| Regions Covered | Global |
