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Organic Rankine Cycle Market Size, Share & Trends Analysis Report By Application (Waste Heat Recovery, Biomass, Geothermal, Solar Thermal, Oil & Gas), By Region, And Segment Forecasts, 2024 - 2030- Product Image
Organic Rankine Cycle Market Size, Share & Trends Analysis Report By Application (Waste Heat Recovery, Biomass, Geothermal, Solar Thermal, Oil & Gas), By Region, And Segment Forecasts, 2024 - 2030- Product Image
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Organic Rankine Cycle Market Size, Share & Trends Analysis Report By Application (Waste Heat Recovery, Biomass, Geothermal, Solar Thermal, Oil & Gas), By Region, And Segment Forecasts, 2024 - 2030

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    Report

  • 152 Pages
  • April 2024
  • Region: Global
  • Grand View Research
  • ID: 5457642
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Organic Rankine Cycle Market Growth & Trends

The global organic rankine cycle market size is expected to reach USD 1.01 billion by 2030. The market is expected to expand at a CAGR of 1.0% from 2024 to 2030. The adoption of renewable energy systems in countries such as the U.S., China, Germany, and Canada is being driven by supportive regulations and the provision of financial incentives for their deployment. Incentives such as feed-in-tariff, subsidies, and tax benefits are some of the major tools utilized by countries globally to attract investments in the renewable energy sector. These factors are expected to propel the growth of the organic rankine cycle (ORC) market in the near future.

The supply chains concerning the spare parts for ORC systems were majorly affected due to the shutdown of production facilities during the COVID-19 pandemic. The manufacturing of components in the energy & power sector slowed down considerably. In addition, local and international travel restrictions, quarantine requirements, and lockdowns caused delays in the shipment of already manufactured parts to be supplied to distributors and end-users. ORC manufacturers usually have access to an adequate supply of critical parts, devices, components, and materials for emergencies. However, these companies faced bottlenecks due to the limited production of supplies in countries severely affected by COVID-19.

The geothermal segment led the market with the largest revenue share in 2022. The major reason for the dominance of this segment is the large-scale megawatt capacity of geothermal projects, as compared to other application segments such as biomass, waste heat recovery, and solar thermal. Generally, each geothermal project is of a capacity of over 10 MW, whereas ORC-based projects in other application segments are not always of capacities equivalent to 10 MW and are generally less than 1 to 2 MW.

The ORC market is highly concentrated, with major companies such as Ormat, Turboden, and Exergy accounting for more than 75% of the market share in 2022. These companies, apart from equipment supply, are also focusing on providing EPC and long-term maintenance services to enhance their market share further. This factor is expected to aid these companies in maintaining their dominance in the ORC market during the forecast period.

Organic Rankine Cycle Market Report Highlights

  • The geothermal segment held the largest market share of 60.80% in terms of application in the global ORC market in 2023. Geothermal projects are usually of higher capacity as compared to biomass and waste heat recovery projects, owing to which the ORC market share was higher for geothermal applications in 2023, aided by the deployment of large-scale geothermal projects in recent years
  • As of 2023, Europe accounted for 33.51% of the revenue share in the overall market. The European region has been a front-runner in implementing favorable policies and support mechanisms for the growth of renewable energy and energy efficiency projects worldwide. This has resulted in the European region accounting for a dominant share of the global ORC market
  • Various strategic initiatives have been recorded over the past few years that serve to boost the growth of the market. For instance, in May 2023, Turboden, Pietro Fiorentini, and Unareti collaborated to improve the Macconago reduction and measurement station, which is a key entry point into Milan's natural gas distribution network. This upgrade project involves the installation of approximately 4 MWe of gas expanders aimed at harnessing electricity from the natural gas load loss associated with the facility’s pressure drop

Table of Contents

Chapter 1 Organic Rankine Cycle Market : Methodology & Scope
1.1 Market Segmentation & Scope
1.1.1 Market Definitions
1.2 Information Procurement
1.2.1 Purchased Database
1.2.2 Internal Database
1.2.3 Secondary Source
1.2.4 Third Party Perspective
1.2.5 Primary Research
1.3 Information Analysis
1.3.1 Data Analysis Models
1.4 Market Formulation and Data Visualization
1.5 Data Validation and Publishing
Chapter 2 Organic Rankine Cycle Market : Executive Summary
2.1 Market Snapshot
2.2 Segment Snapshot
2.3 Competitive Landscape Snapshot
Chapter 3 Organic Rankine Cycle Market: Variables, Trends, & Scope
3.1 Market Lineage Outlook
3.2 Industry Value Chain Analysis
3.3 Raw Material Trends
3.3.1 Major raw material analysis
3.3.1.1 Steel
3.3.1.2 Organic Fluid
3.4 Technology Overview
3.4.1 Turbines
3.4.2 Heat Exchangers
3.4.3 Condensers
3.4.4 FEED PUMPs
3.5 Regulatory Framework
3.5.1 Policies and Regulations by Countries
3.5.2 Standard & Compliances
3.5.3 Safety
3.6 Market Dynamics
3.6.1 Market Driver Impact Analysis
3.6.1.1 Rise In Adoption Of Reneweble Energy
3.6.1.2 Long lifecycle coupled with low O&M costs
3.6.2 Market Restraint Impact Analysis
3.6.2.1 Presence Of Substitutes
3.6.3 Opportunity Assessment
3.6.4 Industry Challenges
3.7 Business Environment Analysis: Organic Rankine Cycle Market
3.7.1 Industry Analysis - Porter's Five Forces
3.7.2 PESTEL analysis
3.8 Project Brief
3.8.1 Case study - 1
3.8.1.1 Customer brief:
3.8.1.2 Need:
3.8.1.3 Solution:
3.8.2 Case study - 2
3.8.2.1 Customer brief:
3.8.2.2 Need:
3.8.2.3 Solution:
3.8.3 Case study - 3
3.8.3.1 Customer brief:
3.8.3.2 Need:
3.8.3.3 Solution:
3.8.4 Case study - 4
3.8.4.1 Customer brief:
3.8.4.2 Need:
3.8.4.3 Solution:
3.8.5 Case study - 5
3.8.5.1 Customer brief:
3.8.5.2 Need:
3.8.5.3 Solution:
3.9 Impact of COVID-19 on Organic Rankine Cycle market
3.9.1 Impact of COVID-19 on Organic Rankine cycle Supply Side
3.9.2 Impact of COVID-19 on Organic Rankine cycle Market
3.9.3 Challenges
3.9.4 Impact Verdict - Medium
Chapter 4. Organic Rankine Cycle: Application Outlook Estimates & Forecasts
4.1. Organic Rankine Cycle: Application Movement Analysis, 2023 & 2030
4.2. Waste Heat Recovery
4.2.1. Market estimates and forecast, 2018 - 2030 (MW) (USD Million)
4.3. Biomass
4.3.1. Market estimates and forecast, 2018 - 2030 (MW) (USD Million)
4.4. Geothermal
4.4.1. Market estimates and forecast, 2018 - 2030 (MW) (USD Million)
4.5. Solar Thermal
4.5.1. Market estimates and forecast, 2018 - 2030 (MW) (USD Million)
4.6. Oil & Gas (Gas Pipeline Pressure Stations)
4.6.1. Market estimates and forecast, 2018 - 2030 (MW) (USD Million)
4.7. Waste to Energy
4.7.1. Market estimates and forecast, 2018 - 2030 (MW) (USD Million)
Chapter 5. Organic Rankine Cycle: Regional Outlook Estimates & Forecasts
5.1. Regional Snapshot
5.2. Organic Rankine Cycle: Regional Movement Analysis, 2023 & 2030
5.3. North America
5.3.1. Market estimates and forecast, by Application, 2018 - 2030 (MW) (USD Million)
5.3.2. U.S.
5.3.2.1. Market estimates and forecast, by Application, 2018 - 2030 (MW) (USD Million)
5.3.3. Canada
5.3.3.1. Market estimates and forecast, by Application, 2018 - 2030 (MW) (USD Million)
5.4. Europe
5.4.1. Market estimates and forecast, by Application, 2018 - 2030 (MW) (USD Million)
5.4.2. Germany
5.4.2.1. Market estimates and forecast, by Application, 2018 - 2030 (MW) (USD Million)
5.4.3. Turkey
5.4.3.1. Market estimates and forecast, by Application, 2018 - 2030 (MW) (USD Million)
5.4.4. Italy
5.4.4.1. Market estimates and forecast, by Application, 2018 - 2030 (MW) (USD Million)
5.5. Asia Pacific
5.5.1. Market estimates and forecast, by Application, 2018 - 2030 (MW) (USD Million)
5.5.2. China
5.5.2.1. Market estimates and forecast, by Application, 2018 - 2030 (MW) (USD Million)
5.5.3. Japan
5.5.3.1. Market estimates and forecast, by Application, 2018 - 2030 (MW) (USD Million)
5.5.4. Thailand
5.5.4.1. Market estimates and forecast, by Application, 2018 - 2030 (MW) (USD Million)
5.6. Central & South America
5.6.1.1. Market estimates and forecast, by Application, 2018 - 2030 (MW) (USD Million)
5.7. Middle East & Africa
5.7.1.1. Market estimates and forecast, by Application, 2018 - 2030 (MW) (USD Million)
Chapter 6. Competitive Landscape
6.1. Recent Developments & Impact Analysis, By Key Market Participants
6.2. Company Categorization
6.3. Company Ranking
6.4. Heat Map Analysis
6.5. Company Market Share Analysis, 2023
6.6. Strategy Mapping
6.7. Company Profiles/Listing
6.7.1. Turboden S.p.A.
6.7.1.1. Company Overview
6.7.1.2. Financial Performance
6.7.1.3. Product Benchmarking
6.7.2. EXERGY INTERNATIONAL SRL
6.7.2.1. Company Overview
6.7.2.2. Financial Performance
6.7.2.3. Product Benchmarking
6.7.3. Zhejiang Kaishan Compressor Co., Ltd.
6.7.3.1. Company Overview
6.7.3.2. Financial Performance
6.7.3.3. Product Benchmarking
6.7.4. Enogia
6.7.4.1. Company Overview
6.7.4.2. Financial Performance
6.7.4.3. Product Benchmarking
6.7.5. Triogen
6.7.5.1. Company Overview
6.7.5.2. Financial Performance
6.7.5.3. Product Benchmarking
6.7.6. Calnetix Technologies, LLC.
6.7.6.1. Company Overview
6.7.6.2. Financial Performance
6.7.6.3. Product Benchmarking
6.7.7. ABB Ltd.
6.7.7.1. Company Overview
6.7.7.2. Financial Performance
6.7.7.3. Product Benchmarking
6.7.8. Atlas Copco AB
6.7.8.1. Company Overview
6.7.8.2. Financial Performance
6.7.8.3. Product Benchmarking
6.7.9. TAS
6.7.9.1. Company Overview
6.7.9.2. Financial Performance
6.7.9.3. Product Benchmarking
6.7.10. Elvosolar a.s.
6.7.10.1. Company Overview
6.7.10.2. Financial Performance
6.7.10.3. Product Benchmarking
6.7.11. General Electric
6.7.11.1. Company Overview
6.7.11.2. Financial Performance
6.7.11.3. Product Benchmarking
6.7.12. SUMEC Geopower AG
6.7.12.1. Company Overview
6.7.12.2. Financial Performance
6.7.12.3. Product Benchmarking
6.7.13. ORCAN ENERGY AG
6.7.13.1. Company Overview
6.7.13.2. Financial Performance
6.7.13.3. Product Benchmarking
List of Tables
Table 1. Organic Rankine Cycle estimates and forecasts, 2018 - 2030 (MW) (USD Million)
Table 2. Organic Rankine Cycle estimates and forecasts by Application, 2018 - 2030 (MW) (USD Million)
Table 3. Organic Rankine Cycle estimates and forecasts by Waste Heat Recovery, 2018 - 2030 (MW) (USD Million)
Table 4. Organic Rankine Cycle estimates and forecasts in Biomass, 2018 - 2030 (MW) (USD Million)
Table 5. Organic Rankine Cycle estimates and forecasts in Geothermal, 2018 - 2030 (MW) (USD Million)
Table 6. Organic Rankine Cycle estimates and forecasts in Solar Thermal, 2018 - 2030 (MW) (USD Million)
Table 7. Organic Rankine Cycle estimates and forecasts in Oil & Gas (Gas pipeline pressure stations), 2018 - 2030 (MW) (USD Million)
Table 8. Organic Rankine Cycle estimates and forecasts in Waste to Energy, 2018 - 2030 (MW) (USD Million)
Table 9. North America Organic Rankine Cycle estimates and forecasts, 2018 - 2030 (MW) (USD Million)
Table 10. North America Organic Rankine Cycle estimates and forecasts, by application, 2018 - 2030 (MW) (USD Million)
Table 11. U.S. Organic Rankine Cycle estimates and forecasts, 2018 - 2030 (MW) (USD Million)
Table 12. U.S. Organic Rankine Cycle estimates and forecasts, by Application, 2018 - 2030 (MW) (USD Million)
Table 13. Canada Organic Rankine Cycle estimates and forecasts, 2018 - 2030 (MW) (USD Million)
Table 14. Canada Organic Rankine Cycle estimates and forecasts, by Application, 2018 - 2030 (MW) (USD Million)
Table 15. Europe Organic Rankine Cycle estimates and forecasts, 2018 - 2030 (MW) (USD Million)
Table 16. Europe Organic Rankine Cycle estimates and forecasts, by application, 2018 - 2030 (MW) (USD Million)
Table 17. Germany Organic Rankine Cycle estimates and forecasts, 2018 - 2030 (MW) (USD Million)
Table 18. Germany Organic Rankine Cycle estimates and forecasts, 2018 - 2030 (MW) (USD Million)
Table 19. Germany Organic Rankine Cycle estimates and forecasts, by Application, 2018 - 2030 (MW) (USD Million)
Table 20. Turkey Organic Rankine Cycle estimates and forecasts, 2018 - 2030 (MW) (USD Million)
Table 21. Turkey Organic Rankine Cycle estimates and forecasts, by Application, 2018 - 2030 (MW) (USD Million)
Table 22. Italy Organic Rankine Cycle estimates and forecasts, 2018 - 2030 (MW) (USD Million)
Table 23. Italy Organic Rankine Cycle estimates and forecasts, by Application, 2018 - 2030 (MW) (USD Million)
Table 24. Asia Pacific Organic Rankine Cycle estimates and forecasts, 2018 - 2030 (MW) (USD Million)
Table 25. Asia Pacific Organic Rankine Cycle estimates and forecasts, by application, 2018 - 2030 (MW) (USD Million)
Table 26. China Organic Rankine Cycle estimates and forecasts, 2018 - 2030 (MW) (USD Million)
Table 27. China Organic Rankine Cycle estimates and forecasts, by application, 2018 - 2030 (MW) (USD Million)
Table 28. Japan Organic Rankine Cycle estimates and forecasts, 2018 - 2030 (MW) (USD Million)
Table 29. Japan Organic Rankine Cycle estimates and forecasts, by Application, 2018 - 2030 (MW) (USD Million)
Table 30. Thailand Organic Rankine Cycle estimates and forecasts, 2018 - 2030 (MW) (USD Million)
Table 31. Thailand Organic Rankine Cycle estimates and forecasts, by Application, 2018 - 2030 (MW) (USD Million)
Table 32. Central & South America Organic Rankine Cycle estimates and forecasts, 2018 - 2030 (MW) (USD Million)
Table 33. Central & South America Organic Rankine Cycle estimates and forecasts, by application, 2018 - 2030 (MW) (USD Million)
Table 34. Middle East & Africa Organic Rankine Cycle estimates and forecasts, 2018 - 2030 (MW) (USD Million)
Table 35. Middle East & Africa Organic Rankine Cycle estimates and forecasts, by application, 2018 - 2030 (MW) (USD Million)
List of Figures
Fig. 1 Market segmentation
Fig. 2 Information procurement
Fig. 3 Data Analysis Models
Fig. 4 Market Formulation and Validation
Fig. 5 Market snapshot
Fig. 6 Segmental outlook- application
Fig. 7 Competitive outlook
Fig. 8 Organic Rankine Cycle, 2018-2030 (MW) (USD Million)
Fig. 9 Value chain analysis
Fig. 10 Market dynamics
Fig. 11 Porter’s Analysis
Fig. 12 PESTEL Analysis
Fig. 13 Organic Rankine Cycle, by application: Key takeaways
Fig. 14 Organic Rankine Cycle, by application: Market share, 2023 & 2030
Fig. 15 Organic Rankine cycle market estimates & forecasts, by waste heat recovery, 2018 - 2030 (MW) (USD Million)
Fig. 16 Organic Rankine cycle market estimates & forecasts, by biomass, 2018 - 2030 (MW) (USD Million)
Fig. 17 Organic Rankine cycle market estimates & forecasts, by geothermal, 2018 - 2030 (MW) (USD Million)
Fig. 18 Organic Rankine cycle market estimates & forecasts, by solar thermal, 2018 - 2030 (MW) (USD Million)
Fig. 19 Organic Rankine cycle market estimates & forecasts, by oil & gas (gas pipeline pressure stations), 2018 - 2030 (MW) (USD Million)
Fig. 20 Organic Rankine cycle market estimates & forecasts, by waste to energy, 2018 - 2030 (MW) (USD Million)
Fig. 21 Organic Rankine Cycle, by region: Key takeaways
Fig. 22 Organic Rankine Cycle, by region: Market share, 2023 & 2030
Fig. 23 North America organic rankine cycle market estimates & forecasts, 2018 - 2030 (MW) (USD Million)
Fig. 24 U.S. organic rankine cycle market estimates & forecasts, 2018 - 2030 (MW) (USD Million)
Fig. 25 Canada organic rankine cycle market estimates & forecasts, 2018 - 2030 (MW) (USD Million)
Fig. 26 Europe organic rankine cycle market estimates & forecasts, 2018 - 2030 (MW) (USD Million)
Fig. 27 Germany organic rankine cycle market estimates & forecasts, 2018 - 2030 (MW) (USD Million)
Fig. 28 Turkey organic rankine cycle market estimates & forecasts, 2018 - 2030 (MW) (USD Million)
Fig. 29 Italy organic rankine cycle market estimates & forecasts, 2018 - 2030 (MW) (USD Million)
Fig. 30 Asia Pacific organic rankine cycle market estimates & forecasts, 2018 - 2030 (MW) (USD Million)
Fig. 31 China organic rankine cycle market estimates & forecasts, 2018 - 2030 (MW) (USD Million)
Fig. 32 Japan organic rankine cycle market estimates & forecasts, 2018 - 2030 (MW) (USD Million)
Fig. 33 Thailand organic rankine cycle market estimates & forecasts, 2018 - 2030 (MW) (USD Million)
Fig. 34 Central & South America organic rankine cycle market estimates & forecasts, 2018 - 2030 (MW) (USD Million)
Fig. 35 Middle East & Africa organic rankine cycle market estimates & forecasts, 2018 - 2030 (MW) (USD Million)
Fig. 36 Key Company Categorization
Fig. 37 Company Market Positioning
Fig. 38 Company market share analysis, 2023
Fig. 39 Strategic Framework

Companies Mentioned

  • Turboden S.p.A.
  • EXERGY INTERNATIONAL SRL
  • Zhejiang Kaishan Compressor Co., Ltd.
  • Enogia
  • Triogen
  • Calnetix Technologies, LLC.
  • ABB Ltd.
  • Atlas Copco AB
  • TAS
  • Elvosolar a.s.
  • General Electric
  • SUMEC Geopower AG
  • ORCAN ENERGY AG

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