Organic Rankine Cycle Market Report 2026

The organic rankine cycle market size has grown strongly in recent years. It will grow from $0.74 billion in 2025 to $0.79 billion in 2026 at a compound annual growth rate (CAGR) of 6.9%. The growth in the historic period can be attributed to increasing industrial waste heat availability, early adoption of geothermal power systems, growth in biomass power projects, rising energy efficiency regulations, availability of low-temperature heat sources.

The organic rankine cycle market size is expected to see strong growth in the next few years. It will grow to $1.03 billion in 2030 at a compound annual growth rate (CAGR) of 6.6%. The growth in the forecast period can be attributed to increasing investments in decarbonized power generation, rising adoption of distributed energy systems, expansion of industrial energy recovery solutions, growing focus on low-carbon power technologies, increasing deployment of modular orc systems. Major trends in the forecast period include increasing deployment of waste heat recovery orc systems, rising adoption of small-scale orc units, growing use of geothermal-based orc applications, expansion of biomass and solar thermal orc projects, enhanced focus on system efficiency optimization.

The increasing demand for renewable energy sources is anticipated to drive the growth of the organic rankine cycle (ORC) market in the future. Renewable energy, which is derived from natural and replenishable sources such as sunlight, wind, rain, tides, and geothermal heat, is essential for reducing greenhouse gas emissions, combating climate change, and securing a sustainable energy supply. ORC technology enhances the efficiency and viability of renewable energy systems by converting low-temperature heat from geothermal, biomass, and solar thermal sources into electricity. For example, in January 2024, the Energy Information Administration (EIA), a U.S. government agency, projected that solar power generation in the U.S. would increase by 75%, from 163 billion kWh in 2023 to 286 billion kWh by 2025. Similarly, wind power generation is expected to grow by 11%, from 430 billion kWh in 2023 to 476 billion kWh by 2025. Consequently, the rising demand for renewable energy sources is set to propel the growth of the organic rankine cycle market.

Major companies operating in the organic Rankine cycle market are concentrating on the development of advanced solutions, such as industrial waste heat recovery power generation, to improve energy efficiency and support decarbonization objectives. Industrial waste heat recovery power generation involves capturing surplus thermal energy from industrial processes and converting it into electricity using ORC technology, thereby enhancing efficiency while lowering emissions and eliminating water consumption. For instance, in October 2024, Turboden S.P.A., an Italy-based engineering company, commissioned a 13 MWe ORC power plant at Riyadh Cement Company, featuring ORC heat recovery technology applied to clinker coolers and pre-heaters from two cement kilns. This project marks the first ORC plant installed in Saudi Arabia and the largest ORC-based heat recovery power plant in the global cement sector, operating with a water-free system and an integrated air-cooled condenser, enabling low operating costs through unmanned and automated operations, supporting Saudi Arabia’s Vision 2030 decarbonization goals, and demonstrating high reliability backed by Turboden’s extensive global experience with hundreds of ORC installations worldwide.

In November 2023, Bitzer SE, a Germany-based industrial machinery manufacturer, acquired BPower A.S. for an undisclosed sum. This acquisition enhances Bitzer's offerings in organic rankine cycle (ORC) technology, enabling the company to deliver comprehensive services ranging from planning and project engineering to installation and customer support. Additionally, this move broadens Bitzer's portfolio and strengthens its commitment to providing energy-efficient solutions in response to the increasing demand for eco-friendly technologies. BPower A.S., based in the Czech Republic, specializes in ORC technology.

Major companies operating in the organic rankine cycle market are Ormat Technologies Inc, Turboden S.p.A, Exergy International Srl, TAS Energy Inc, ORCAN ENERGY AG, Triogen Limited, Elvosolar a.s., Enertime S.A, INTEC GMK GmbH, Climeon AB, Enogia S.A, Mitsubishi Heavy Industries Ltd, Siemens Energy AG, General Electric Company, IHI Corporation, Kawasaki Heavy Industries Ltd, Calnetix Technologies LLC, United Technologies ORC Solutions, Atlas Copco ORC Systems, Remeha ORC Systems, Dalkia ORC Solutions, MAN Energy Solutions ORC Systems.

North America was the largest region in the organic rankine cycle market in 2025. 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, South East Asia, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the organic rankine cycle market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Taiwan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

The organic rankine cycle market consists of revenues earned by entities by providing services such as system design, installation, maintenance, and performance optimization. The market value includes the value of related goods sold by the service provider or included within the service offering. The organic rankine cycle market also includes sales of organic rankine cycle modules, heat exchangers, turbines, condensers, pumps, and associated control systems and instrumentation. Values in this market are ‘factory gate’ values, that is, the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.

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