Organic Rankine Cycle (ORC) Waste Heat To Power Global Market Report 2025

The organic rankine cycle (ORC) waste heat to power market size has grown rapidly in recent years. It will grow from $3.16 billion in 2024 to $3.64 billion in 2025 at a compound annual growth rate (CAGR) of 15.3%. The growth during the historic period can be attributed to the rising demand for decentralized power generation, increased availability of waste heat from heavy industries, a stronger emphasis on sustainable manufacturing practices, the growing need to reduce operational energy costs, and escalating fuel prices.

The organic rankine cycle (ORC) waste heat to power market size is expected to see rapid growth in the next few years. It will grow to $6.37 billion in 2029 at a compound annual growth rate (CAGR) of 15%. The growth expected in the forecast period is driven by increasing demand for clean energy solutions, higher investments in industrial waste heat recovery, a greater focus on carbon neutrality targets, wider adoption of advanced manufacturing processes, and stricter government regulations encouraging energy efficiency. Key trends in the forecast period include advancements in low-temperature ORC technology, development of advanced modular ORC system designs, innovations in working fluids for improved efficiency, integration of ORC with solar thermal and geothermal energy plants, and progress in digital monitoring and control systems.

The increasing adoption of renewable energy sources is expected to drive the growth of the organic Rankine cycle (ORC) waste heat to power market in the coming years. Renewable energy sources, such as sunlight, wind, and geothermal heat, are naturally replenished and provide sustainable, clean power without harming the environment. The rise in renewable energy use is mainly due to the global demand for clean and sustainable alternatives to fossil fuels to address climate change. ORC waste heat to power technology supports renewable energy by efficiently converting low-grade heat from industrial or geothermal processes into electricity, thereby enhancing energy recovery and sustainability. For example, in February 2025, the World Resources Institute, a US-based non-profit, reported that solar energy set a new record in 2024 by adding approximately 39.6 gigawatts (GW) of capacity, surpassing the 27.4 GW installed in 2023. Thus, the growing adoption of renewable energy sources is fueling the growth of the ORC waste heat to power market.

Leading companies in the organic Rankine cycle (ORC) waste heat to power market are developing innovative solutions like marine-optimized ORC systems, designed to efficiently recover low-temperature waste heat, reduce emissions, and help ships comply with environmental regulations while lowering operational costs. Marine-optimized ORC systems refer to organic Rankine cycle technology adapted for marine environments, converting onboard waste heat into clean electricity to improve energy efficiency and reduce emissions on vessels. For instance, in April 2022, Climeon AB, a Sweden-based clean energy company, launched the Climeon Heat Power 300 Marine system to convert waste heat into clean electricity using ORC technology. This advanced waste heat recovery system features a modular, compact design for easy integration into new builds and retrofits of cruise ships. It operates efficiently across a broad range of temperatures and engine loads, maximizing power generation from low-temperature heat sources that were previously underutilized. The HeatPower 300 also includes enhanced automation and remote monitoring capabilities, allowing real-time performance optimization and reducing the need for manual oversight.

In September 2022, Transitional Energy, a US-based geothermal technology company, partnered with ElectraTherm to implement ORC technology for converting geothermal heat into electricity. Through this partnership, Transitional Energy aims to expand the use of ORC systems to capture waste heat from oil and gas operations, generating clean electricity and lowering carbon emissions in the energy sector. ElectraTherm Inc., based in the US, specializes in low-temperature waste heat recovery solutions utilizing organic Rankine cycle (ORC) technology.

Major players in the organic rankine cycle (orc) waste heat to power market are General Electric Power, Siemens Energy AG, Mitsubishi Heavy Industries Ltd., Baker Hughes Company, Atlas Copco AB, GEA Group AG, Alfa Laval AB, Dürr Cyplan GmbH, Ormat Technologies Inc., Exergy S.p.A, GMK Energy Co. Ltd., Turboden S.p.A, ElectraTherm Inc., Calnetix Technologies LLC, Orcan Energy AG, Enogia Société Anonyme, Infinity Turbine LLC, Triogen B.V., Enertime S.A., Zuccato Energia S.r.l., and Kaishan ORC Energy Equipment Co. Ltd.

North America was the largest region in the organic rankine cycle (ORC) waste heat to power market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in organic rankine cycle (ORC) waste heat to power report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.

The countries covered in the organic rankine cycle (ORC) waste heat to power market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

Organic rankine cycle (ORC) waste heat to power refers to a technology that captures low- to medium-temperature waste heat and converts it into electricity using an organic working fluid. It improves energy efficiency in industrial and renewable energy applications by utilizing heat that would otherwise be lost.

The primary models in the organic rankine cycle (ORC) waste heat to power are steady-state and dynamic. A steady-state model represents system operation under constant conditions, where variables such as temperature, pressure, and flow remain unchanged over time. The various technologies include organic rankine cycle (ORC), Kalina cycle, steam rankine cycle, and combined heat and power (CHP) systems with multiple power output capacities that are categorized as ≤1 megawatt electrical (MWe), >1-5 MWe, >5-10 MWe, and >10 MWe. The different applications involved are internal combustion engines (ICEs) or gas turbines, waste-to-energy facilities, metal production, the cement and lime industry, the glass industry, petroleum refining, the chemical sector, and landfill ICE, and they are used by several end-use industries such as manufacturing and industrial sectors, energy generation and utilities, chemical and petrochemical industries, food and beverage production, and automotive industry.

The organic rankine cycle (ORC) waste heat to power market research report is one of a series of new reports that provides organic rankine cycle (ORC) waste heat to power market statistics, including the organic rankine cycle (ORC) waste heat to power industry global market size, regional shares, competitors with the organic rankine cycle (ORC) waste heat to power market share, detailed organic rankine cycle (ORC) waste heat to power market segments, market trends, and opportunities, and any further data you may need to thrive in the organic rankine cycle (ORC) waste heat to power industry. This organic rankine cycle (ORC) waste heat to power market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.

The organic rankine cycle (ORC) waste heat to power market consists of revenues earned by entities by providing services such as system design and engineering, equipment manufacturing, 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 (ORC) waste heat to power market also includes sales of pumps and feed systems, condensers, generators, skid-mounted ORC modules, bypass and safety systems, and retrofit kits. 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 and 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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