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ORC Waste Heat to Power Market - Global Industry Size, Share, Trends, Opportunity, and Forecast, Segmented, By Size (Small, Medium), By Application (Petroleum Refining, Cement Industry, Heavy Metal Production, Chemical Industry), By Product (Steam Rankine Cycle, Organic Rankine Cycle, Kalina Cycle), By Capacity (Less Than 1000 KW, 1001-4000 KW), By Region & Competition, 2020-2030F
Market Report I 2025-06-13 I 180 Pages I TechSci Research
Market Overview
The Global ORC Waste Heat to Power Market was valued at USD 24.81 billion in 2024 and is projected to reach USD 51.21 billion by 2030, growing at a CAGR of 12.67% during the forecast period. This market involves the development and deployment of Organic Rankine Cycle (ORC) systems, which transform low-to-medium temperature waste heat into electrical power using organic working fluids with low boiling points. These systems are particularly effective for capturing residual heat from industrial operations, power plants, and engines-heat that would otherwise be lost-contributing to higher energy efficiency and reduced emissions. ORC systems are widely adopted across sectors such as cement, steel, oil & gas, automotive, and renewable energy. The market includes critical components like turbines, evaporators, condensers, and heat exchangers, supported by both specialized manufacturers and engineering firms. Key factors fueling market growth include industrial expansion, stricter environmental mandates, rising energy costs, and a global push for cleaner and more efficient energy solutions. These systems are gaining prominence as industries seek to optimize resource use and align with sustainability goals.
Key Market Drivers
Increasing Demand for Energy Efficiency and Waste Heat Recovery Solutions
The growing emphasis on improving energy efficiency and sustainable operations is a major driver of the ORC waste heat to power market. A wide range of industries-including oil & gas, chemicals, manufacturing, and energy production-are under increasing pressure to cut energy use and reduce emissions. ORC technology offers an effective means to harness and convert low-grade waste heat from industrial processes into usable electricity. Unlike conventional systems, ORC units use organic fluids with lower boiling points, enabling them to recover energy from heat sources that steam-based turbines cannot efficiently utilize. As companies seek to meet regulatory requirements and reduce operational expenses, the implementation of ORC systems has become a strategic energy recovery solution across industrial facilities.
Key Market Challenges
High Initial Capital Investment and Economic Viability
The high upfront costs associated with the deployment of ORC systems present a significant challenge to broader market adoption, particularly among small and mid-sized enterprises. These systems require investment in specialized components like turbines, heat exchangers, and organic fluids, along with custom engineering for integration into existing operations. The financial burden is intensified by the complexity and cost of retrofitting existing infrastructure, leading to extended project timelines and increased implementation costs. Moreover, fluctuating energy prices and modest efficiency gains in some low-temperature applications can prolong the return on investment, limiting appeal. In many regions, the absence of consistent financial incentives or regulatory clarity further undermines the commercial viability of ORC projects, making it difficult for businesses to justify the expenditure without substantial policy support.
Key Market Trends
Increasing Adoption of Renewable and Waste Heat Recovery Technologies in Industrial Sectors Driving ORC Market Growth
A growing commitment to sustainability and emission reduction across industrial sectors is significantly propelling the adoption of ORC-based waste heat recovery technologies. Industries such as cement, steel, glass, and chemicals produce substantial quantities of low-grade waste heat that often go unused. ORC systems provide an efficient and scalable solution to convert this heat into electrical power, thereby reducing energy waste and environmental impact. Government regulations and incentives promoting renewable energy use and carbon reduction are further accelerating the integration of ORC systems into industrial operations. Their modular and flexible design enables customization for different capacities, making them suitable for a wide spectrum of facilities. Technological advances in working fluids and system configurations are also improving efficiency, reliability, and the economic feasibility of ORC installations, enhancing their attractiveness across both mature and emerging markets.
Key Market Players
- Ormat Technologies, Inc.
- Mitsubishi Heavy Industries Group
- General Electric Company
- Exergy S.p.A.
- ElectraTherm, Inc.
- Tennessee Valley Authority (TVA)
- Siemens AG
- Enogia SAS
- Sundyne, LLC
- Kalex Valves Pvt. Ltd.
Report Scope:
In this report, the Global ORC Waste Heat to Power Market has been segmented into the following categories, in addition to the industry trends which have also been detailed below:
- ORC Waste Heat to Power Market, By Size:
o Small
o Medium
- ORC Waste Heat to Power Market, By Application:
o Petroleum Refining
o Cement Industry
o Heavy Metal Production
o Chemical Industry
- ORC Waste Heat to Power Market, By Product:
o Steam Rankine Cycle
o Organic Rankine Cycle
o Kalina Cycle
- ORC Waste Heat to Power Market, By Capacity:
o Less Than 1000 KW
o 1001-4000 KW
- ORC Waste Heat to Power Market, By Region:
o North America
United States
Canada
Mexico
o Europe
France
United Kingdom
Italy
Germany
Spain
o Asia-Pacific
China
India
Japan
Australia
South Korea
o South America
Brazil
Argentina
Colombia
o Middle East & Africa
South Africa
Saudi Arabia
UAE
Kuwait
Turkey
Competitive Landscape
Company Profiles: Detailed analysis of the major companies presents in the Global ORC Waste Heat to Power Market.
Available Customizations:
Global ORC Waste Heat to Power Market report with the given Market data, TechSci Research offers customizations according to a company's specific needs. The following customization options are available for the report:
Company Information
- Detailed analysis and profiling of additional Market players (up to five).
1. Product Overview
1.1. Market Definition
1.2. Scope of the Market
1.2.1. Markets Covered
1.2.2. Years Considered for Study
1.3. Key Market Segmentations
2. Research Methodology
2.1. Objective of the Study
2.2. Baseline Methodology
2.3. Formulation of the Scope
2.4. Assumptions and Limitations
2.5. Sources of Research
2.5.1. Secondary Research
2.5.2. Primary Research
2.6. Approach for the Market Study
2.6.1. The Bottom-Up Approach
2.6.2. The Top-Down Approach
2.7. Methodology Followed for Calculation of Market Size & Market Shares
2.8. Forecasting Methodology
2.8.1. Data Triangulation & Validation
3. Executive Summary
3.1. Overview of the Market
3.2. Overview of Key Market Segmentations
3.3. Overview of Key Market Players
3.4. Overview of Key Regions/Countries
3.5. Overview of Market Drivers, Challenges, and Trends
4. Voice of Customer
5. Global ORC Waste Heat to Power Market Outlook
5.1. Market Size & Forecast
5.1.1. By Value
5.2. Market Share & Forecast
5.2.1. By Size (Small, Medium)
5.2.2. By Application (Petroleum Refining, Cement Industry, Heavy Metal Production, Chemical Industry)
5.2.3. By Product (Steam Rankine Cycle, Organic Rankine Cycle, Kalina Cycle)
5.2.4. By Capacity (Less Than 1000 KW, 1001-4000 KW)
5.2.5. By Region
5.3. By Company (2024)
5.4. Market Map
6. North America ORC Waste Heat to Power Market Outlook
6.1. Market Size & Forecast
6.1.1. By Value
6.2. Market Share & Forecast
6.2.1. By Size
6.2.2. By Application
6.2.3. By Product
6.2.4. By Capacity
6.2.5. By Country
6.3. North America: Country Analysis
6.3.1. United States ORC Waste Heat to Power Market Outlook
6.3.1.1. Market Size & Forecast
6.3.1.1.1. By Value
6.3.1.2. Market Share & Forecast
6.3.1.2.1. By Size
6.3.1.2.2. By Application
6.3.1.2.3. By Product
6.3.1.2.4. By Capacity
6.3.2. Canada ORC Waste Heat to Power Market Outlook
6.3.2.1. Market Size & Forecast
6.3.2.1.1. By Value
6.3.2.2. Market Share & Forecast
6.3.2.2.1. By Size
6.3.2.2.2. By Application
6.3.2.2.3. By Product
6.3.2.2.4. By Capacity
6.3.3. Mexico ORC Waste Heat to Power Market Outlook
6.3.3.1. Market Size & Forecast
6.3.3.1.1. By Value
6.3.3.2. Market Share & Forecast
6.3.3.2.1. By Size
6.3.3.2.2. By Application
6.3.3.2.3. By Product
6.3.3.2.4. By Capacity
7. Europe ORC Waste Heat to Power Market Outlook
7.1. Market Size & Forecast
7.1.1. By Value
7.2. Market Share & Forecast
7.2.1. By Size
7.2.2. By Application
7.2.3. By Product
7.2.4. By Capacity
7.2.5. By Country
7.3. Europe: Country Analysis
7.3.1. Germany ORC Waste Heat to Power Market Outlook
7.3.1.1. Market Size & Forecast
7.3.1.1.1. By Value
7.3.1.2. Market Share & Forecast
7.3.1.2.1. By Size
7.3.1.2.2. By Application
7.3.1.2.3. By Product
7.3.1.2.4. By Capacity
7.3.2. United Kingdom ORC Waste Heat to Power Market Outlook
7.3.2.1. Market Size & Forecast
7.3.2.1.1. By Value
7.3.2.2. Market Share & Forecast
7.3.2.2.1. By Size
7.3.2.2.2. By Application
7.3.2.2.3. By Product
7.3.2.2.4. By Capacity
7.3.3. Italy ORC Waste Heat to Power Market Outlook
7.3.3.1. Market Size & Forecast
7.3.3.1.1. By Value
7.3.3.2. Market Share & Forecast
7.3.3.2.1. By Size
7.3.3.2.2. By Application
7.3.3.2.3. By Product
7.3.3.2.4. By Capacity
7.3.4. France ORC Waste Heat to Power Market Outlook
7.3.4.1. Market Size & Forecast
7.3.4.1.1. By Value
7.3.4.2. Market Share & Forecast
7.3.4.2.1. By Size
7.3.4.2.2. By Application
7.3.4.2.3. By Product
7.3.4.2.4. By Capacity
7.3.5. Spain ORC Waste Heat to Power Market Outlook
7.3.5.1. Market Size & Forecast
7.3.5.1.1. By Value
7.3.5.2. Market Share & Forecast
7.3.5.2.1. By Size
7.3.5.2.2. By Application
7.3.5.2.3. By Product
7.3.5.2.4. By Capacity
8. Asia-Pacific ORC Waste Heat to Power Market Outlook
8.1. Market Size & Forecast
8.1.1. By Value
8.2. Market Share & Forecast
8.2.1. By Size
8.2.2. By Application
8.2.3. By Product
8.2.4. By Capacity
8.2.5. By Country
8.3. Asia-Pacific: Country Analysis
8.3.1. China ORC Waste Heat to Power Market Outlook
8.3.1.1. Market Size & Forecast
8.3.1.1.1. By Value
8.3.1.2. Market Share & Forecast
8.3.1.2.1. By Size
8.3.1.2.2. By Application
8.3.1.2.3. By Product
8.3.1.2.4. By Capacity
8.3.2. India ORC Waste Heat to Power Market Outlook
8.3.2.1. Market Size & Forecast
8.3.2.1.1. By Value
8.3.2.2. Market Share & Forecast
8.3.2.2.1. By Size
8.3.2.2.2. By Application
8.3.2.2.3. By Product
8.3.2.2.4. By Capacity
8.3.3. Japan ORC Waste Heat to Power Market Outlook
8.3.3.1. Market Size & Forecast
8.3.3.1.1. By Value
8.3.3.2. Market Share & Forecast
8.3.3.2.1. By Size
8.3.3.2.2. By Application
8.3.3.2.3. By Product
8.3.3.2.4. By Capacity
8.3.4. South Korea ORC Waste Heat to Power Market Outlook
8.3.4.1. Market Size & Forecast
8.3.4.1.1. By Value
8.3.4.2. Market Share & Forecast
8.3.4.2.1. By Size
8.3.4.2.2. By Application
8.3.4.2.3. By Product
8.3.4.2.4. By Capacity
8.3.5. Australia ORC Waste Heat to Power Market Outlook
8.3.5.1. Market Size & Forecast
8.3.5.1.1. By Value
8.3.5.2. Market Share & Forecast
8.3.5.2.1. By Size
8.3.5.2.2. By Application
8.3.5.2.3. By Product
8.3.5.2.4. By Capacity
9. South America ORC Waste Heat to Power Market Outlook
9.1. Market Size & Forecast
9.1.1. By Value
9.2. Market Share & Forecast
9.2.1. By Size
9.2.2. By Application
9.2.3. By Product
9.2.4. By Capacity
9.2.5. By Country
9.3. South America: Country Analysis
9.3.1. Brazil ORC Waste Heat to Power Market Outlook
9.3.1.1. Market Size & Forecast
9.3.1.1.1. By Value
9.3.1.2. Market Share & Forecast
9.3.1.2.1. By Size
9.3.1.2.2. By Application
9.3.1.2.3. By Product
9.3.1.2.4. By Capacity
9.3.2. Argentina ORC Waste Heat to Power Market Outlook
9.3.2.1. Market Size & Forecast
9.3.2.1.1. By Value
9.3.2.2. Market Share & Forecast
9.3.2.2.1. By Size
9.3.2.2.2. By Application
9.3.2.2.3. By Product
9.3.2.2.4. By Capacity
9.3.3. Colombia ORC Waste Heat to Power Market Outlook
9.3.3.1. Market Size & Forecast
9.3.3.1.1. By Value
9.3.3.2. Market Share & Forecast
9.3.3.2.1. By Size
9.3.3.2.2. By Application
9.3.3.2.3. By Product
9.3.3.2.4. By Capacity
10. Middle East and Africa ORC Waste Heat to Power Market Outlook
10.1. Market Size & Forecast
10.1.1. By Value
10.2. Market Share & Forecast
10.2.1. By Size
10.2.2. By Application
10.2.3. By Product
10.2.4. By Capacity
10.2.5. By Country
10.3. Middle East and Africa: Country Analysis
10.3.1. South Africa ORC Waste Heat to Power Market Outlook
10.3.1.1. Market Size & Forecast
10.3.1.1.1. By Value
10.3.1.2. Market Share & Forecast
10.3.1.2.1. By Size
10.3.1.2.2. By Application
10.3.1.2.3. By Product
10.3.1.2.4. By Capacity
10.3.2. Saudi Arabia ORC Waste Heat to Power Market Outlook
10.3.2.1. Market Size & Forecast
10.3.2.1.1. By Value
10.3.2.2. Market Share & Forecast
10.3.2.2.1. By Size
10.3.2.2.2. By Application
10.3.2.2.3. By Product
10.3.2.2.4. By Capacity
10.3.3. UAE ORC Waste Heat to Power Market Outlook
10.3.3.1. Market Size & Forecast
10.3.3.1.1. By Value
10.3.3.2. Market Share & Forecast
10.3.3.2.1. By Size
10.3.3.2.2. By Application
10.3.3.2.3. By Product
10.3.3.2.4. By Capacity
10.3.4. Kuwait ORC Waste Heat to Power Market Outlook
10.3.4.1. Market Size & Forecast
10.3.4.1.1. By Value
10.3.4.2. Market Share & Forecast
10.3.4.2.1. By Size
10.3.4.2.2. By Application
10.3.4.2.3. By Product
10.3.4.2.4. By Capacity
10.3.5. Turkey ORC Waste Heat to Power Market Outlook
10.3.5.1. Market Size & Forecast
10.3.5.1.1. By Value
10.3.5.2. Market Share & Forecast
10.3.5.2.1. By Size
10.3.5.2.2. By Application
10.3.5.2.3. By Product
10.3.5.2.4. By Capacity
11. Market Dynamics
11.1. Drivers
11.2. Challenges
12. Market Trends & Developments
12.1. Merger & Acquisition (If Any)
12.2. Product Launches (If Any)
12.3. Recent Developments
13. Company Profiles
13.1. Ormat Technologies, Inc.
13.1.1. Business Overview
13.1.2. Key Revenue and Financials
13.1.3. Recent Developments
13.1.4. Key Personnel/Key Contact Person
13.1.5. Key Product/Services Offered
13.2. Mitsubishi Heavy Industries Group
13.3. General Electric Company
13.4. Exergy S.p.A.
13.5. ElectraTherm, Inc.
13.6. Tennessee Valley Authority (TVA)
13.7. Siemens AG
13.8. Enogia SAS
13.9. Sundyne, LLC
13.10. Kalex Valves Pvt. Ltd.
14. Strategic Recommendations
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