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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 Application, 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 Application 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.

SCOPE OF STUDY:

The report analyzes the Organic Rankine Cycle market in terms of units by the following Segments, and Geographic Regions/Countries:

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.

Select Competitors (Total 48 Featured) -

• 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 OF CONTENTS

I. METHODOLOGY

II. EXECUTIVE SUMMARY

• 1. MARKET OVERVIEW
  • An Introduction to Organic Rankine Cycle (ORC)
  • ORC Technology: Primary Applications
  • Global Energy Mix: 1990 Vs 2020 Vs 2030
  • Global Renewable Energy Breakdown by Type: 2010 Vs 2030
  • Global Market Prospects & Outlook
  • Clean Energy Generation Bonanza Portends Radical Gains for Global ORC Market
  • ORC Waste Heat to Power Market Enjoys Real Moment with Adoption of Clean Energy Generation Technologies
  • Researchers Bet on Innovative ORC Technology to Exploit Industrial Waste Heat
  • Analysis by Application
  • World Organic Rankine Cycle Market by Application (2024 & 2030): Percentage Breakdown of Revenues for Geothermal, Waste Heat Recovery, and Other Applications
  • Regional Analysis
  • World Organic Rankine Cycle Market (2024 & 2030): Percentage Breakdown of Revenues for Developed and Developing Regions
  • World Organic Rankine Cycle Market - Geographic Regions Ranked by Value CAGR for 2023-2030: USA, Asia-Pacific, Rest of World, Europe, and Canada
  • Competitive Scenario
  • Organic Rankine Cycle - Global Key Competitors Percentage Market Share in 2024 (E)
  • Competitive Market Presence - Strong/Active/Niche/Trivial for Players Worldwide in 2024 (E)
  • Recent Market Activity
  • Select Global Brands
• 2. FOCUS ON SELECT PLAYERS
• 3. MARKET TRENDS & DRIVERS
  • Industrial Applications of ORC
  • Rising Demand for Single-Stage and Cascaded ORC Systems
  • Commercial Use of Organic ORC Systems for Small and Large Scale Thermal Conversion
  • Steam Rankine Cycle Systems for Nuclear Plants and Coal-fired Power Plants
  • Recycling Waste Heat with ORC for Self-consumption of Plant
  • Novel ORC Couples Subcritical and Supercritical Heat Absorption Procedures
  • Optimized Regenerative ORC Enhance Performance of Internal Combustion Engines
  • ORC Technology Helps Recover Potentially Huge Amount of Waste Heat
  • The Role of ORC in Decarbonization Goals
  • Domestic GHG Emission Reduction Targets of Select Regions/Countries
  • World Carbon Footprint Management Market by Vertical (2024 & 2030): Percentage Breakdown of Revenues for Energy & Utilities, Manufacturing, Transportation & Logistics, Residential & Commercial Buildings, and IT & Telecom
  • ORC System Seeks Role in Waste Heat Recovery Technologies
  • Global Waste Generation, by Region (in millions of tonnes/year): 2016, 2030, 2050
  • Percentage of Municipal Solid Waste Burned with Energy Recovery in Select Countries
  • Novel Opportunities in Waste to Energy Sector
  • Uptrend in Geothermal Power Sector Augurs Well
  • Impact of Geothermal Stations on the Environment
  • Patent Activity in Geothermal Energy Sector
  • Expanding Biomass Sector Offers Opportunities
  • Biomass CHP as a Percentage of Total CHP Generation in Select Countries
  • Issues Linked to ORC and Possible Solutions
• 4. GLOBAL MARKET PERSPECTIVE
  • TABLE 1: World Organic Rankine Cycle Market Analysis of Annual Sales in US$ Thousand for Years 2022 through 2030
  • TABLE 2: World Recent Past, Current & Future Analysis for Organic Rankine Cycle by Geographic Region - USA, Canada, Europe, Asia-Pacific and Rest of World Markets - Independent Analysis of Annual Revenues in US$ Thousand for Years 2024 through 2030 and % CAGR
  • TABLE 3: World 6-Year Perspective for Organic Rankine Cycle by Geographic Region - Percentage Breakdown of Value Revenues for USA, Canada, Europe, Asia-Pacific and Rest of World Markets for Years 2025 & 2030
  • TABLE 4: World Recent Past, Current & Future Analysis for Geothermal by Geographic Region - USA, Canada, Europe, Asia-Pacific and Rest of World Markets - Independent Analysis of Annual Revenues in US$ Thousand for Years 2024 through 2030 and % CAGR
  • TABLE 5: World 6-Year Perspective for Geothermal by Geographic Region - Percentage Breakdown of Value Revenues for USA, Canada, Europe, Asia-Pacific and Rest of World for Years 2025 & 2030
  • TABLE 6: World Recent Past, Current & Future Analysis for Waste Heat Recovery by Geographic Region - USA, Canada, Europe, Asia-Pacific and Rest of World Markets - Independent Analysis of Annual Revenues in US$ Thousand for Years 2024 through 2030 and % CAGR
  • TABLE 7: World 6-Year Perspective for Waste Heat Recovery by Geographic Region - Percentage Breakdown of Value Revenues for USA, Canada, Europe, Asia-Pacific and Rest of World for Years 2025 & 2030
  • TABLE 8: World Recent Past, Current & Future Analysis for Other Applications by Geographic Region - USA, Canada, Europe, Asia-Pacific and Rest of World Markets - Independent Analysis of Annual Revenues in US$ Thousand for Years 2024 through 2030 and % CAGR
  • TABLE 9: World 6-Year Perspective for Other Applications by Geographic Region - Percentage Breakdown of Value Revenues for USA, Canada, Europe, Asia-Pacific and Rest of World for Years 2025 & 2030

III. MARKET ANALYSIS

• UNITED STATES
  • Organic Rankine Cycle Market Presence - Strong/Active/Niche/Trivial - Key Competitors in the United States for 2025 (E)
  • TABLE 10: USA Recent Past, Current & Future Analysis for Organic Rankine Cycle by Application - Geothermal, Waste Heat Recovery and Other Applications - Independent Analysis of Annual Revenues in US$ Thousand for the Years 2024 through 2030 and % CAGR
  • TABLE 11: USA 6-Year Perspective for Organic Rankine Cycle by Application - Percentage Breakdown of Value Revenues for Geothermal, Waste Heat Recovery and Other Applications for the Years 2025 & 2030
• CANADA
  • TABLE 12: Canada Recent Past, Current & Future Analysis for Organic Rankine Cycle by Application - Geothermal, Waste Heat Recovery and Other Applications - Independent Analysis of Annual Revenues in US$ Thousand for the Years 2024 through 2030 and % CAGR
  • TABLE 13: Canada 6-Year Perspective for Organic Rankine Cycle by Application - Percentage Breakdown of Value Revenues for Geothermal, Waste Heat Recovery and Other Applications for the Years 2025 & 2030
• EUROPE
  • Organic Rankine Cycle Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Europe for 2025 (E)
  • TABLE 14: Europe Recent Past, Current & Future Analysis for Organic Rankine Cycle by Geographic Region - Germany, Italy, Turkey and Rest of Europe Markets - Independent Analysis of Annual Revenues in US$ Thousand for Years 2024 through 2030 and % CAGR
  • TABLE 15: Europe 6-Year Perspective for Organic Rankine Cycle by Geographic Region - Percentage Breakdown of Value Revenues for Germany, Italy, Turkey and Rest of Europe Markets for Years 2025 & 2030
  • TABLE 16: Europe Recent Past, Current & Future Analysis for Organic Rankine Cycle by Application - Geothermal, Waste Heat Recovery and Other Applications - Independent Analysis of Annual Revenues in US$ Thousand for the Years 2024 through 2030 and % CAGR
  • TABLE 17: Europe 6-Year Perspective for Organic Rankine Cycle by Application - Percentage Breakdown of Value Revenues for Geothermal, Waste Heat Recovery and Other Applications for the Years 2025 & 2030
• GERMANY
  • TABLE 18: Germany Recent Past, Current & Future Analysis for Organic Rankine Cycle by Application - Geothermal, Waste Heat Recovery and Other Applications - Independent Analysis of Annual Revenues in US$ Thousand for the Years 2024 through 2030 and % CAGR
  • TABLE 19: Germany 6-Year Perspective for Organic Rankine Cycle by Application - Percentage Breakdown of Value Revenues for Geothermal, Waste Heat Recovery and Other Applications for the Years 2025 & 2030
• ITALY
  • TABLE 20: Italy Recent Past, Current & Future Analysis for Organic Rankine Cycle by Application - Geothermal, Waste Heat Recovery and Other Applications - Independent Analysis of Annual Revenues in US$ Thousand for the Years 2024 through 2030 and % CAGR
  • TABLE 21: Italy 6-Year Perspective for Organic Rankine Cycle by Application - Percentage Breakdown of Value Revenues for Geothermal, Waste Heat Recovery and Other Applications for the Years 2025 & 2030
• TURKEY
  • TABLE 22: Turkey Recent Past, Current & Future Analysis for Organic Rankine Cycle by Application - Geothermal, Waste Heat Recovery and Other Applications - Independent Analysis of Annual Revenues in US$ Thousand for the Years 2024 through 2030 and % CAGR
  • TABLE 23: Turkey 6-Year Perspective for Organic Rankine Cycle by Application - Percentage Breakdown of Value Revenues for Geothermal, Waste Heat Recovery and Other Applications for the Years 2025 & 2030
• REST OF EUROPE
  • TABLE 24: Rest of Europe Recent Past, Current & Future Analysis for Organic Rankine Cycle by Application - Geothermal, Waste Heat Recovery and Other Applications - Independent Analysis of Annual Revenues in US$ Thousand for the Years 2024 through 2030 and % CAGR
  • TABLE 25: Rest of Europe 6-Year Perspective for Organic Rankine Cycle by Application - Percentage Breakdown of Value Revenues for Geothermal, Waste Heat Recovery and Other Applications for the Years 2025 & 2030
• ASIA-PACIFIC
  • Organic Rankine Cycle Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Asia-Pacific for 2025 (E)
  • TABLE 26: Asia-Pacific Recent Past, Current & Future Analysis for Organic Rankine Cycle by Application - Geothermal, Waste Heat Recovery and Other Applications - Independent Analysis of Annual Revenues in US$ Thousand for the Years 2024 through 2030 and % CAGR
  • TABLE 27: Asia-Pacific 6-Year Perspective for Organic Rankine Cycle by Application - Percentage Breakdown of Value Revenues for Geothermal, Waste Heat Recovery and Other Applications for the Years 2025 & 2030
• REST OF WORLD
  • TABLE 28: Rest of World Recent Past, Current & Future Analysis for Organic Rankine Cycle by Application - Geothermal, Waste Heat Recovery and Other Applications - Independent Analysis of Annual Revenues in US$ Thousand for the Years 2024 through 2030 and % CAGR
  • TABLE 29: Rest of World 6-Year Perspective for Organic Rankine Cycle by Application - Percentage Breakdown of Value Revenues for Geothermal, Waste Heat Recovery and Other Applications for the Years 2025 & 2030

IV. COMPETITION