유기 랭킨 사이클 시장 규모, 점유율, 성장 분석, 컴포넌트별, 발전량별, 열원별, 용도별, 최종사용자 산업별, 지역별 - 산업 예측(2025-2032년)

Global Organic Rankine Cycle Market size was valued at USD 16.0 billion in 2023 and is poised to grow from USD 17.1 billion in 2024 to USD 29.17 billion by 2032, growing at a CAGR of 6.9% during the forecast period (2025-2032).

The global push for energy efficiency and sustainability is driving the adoption of organic rankine cycle technology in waste heat recovery. Industries such as manufacturing, oil & gas, and power generation produce significant amounts of low-grade heat, which is typically lost. Organic rankine cycle systems convert this waste heat into usable electricity, improving overall energy efficiency while reducing carbon emissions. As governments enforce stricter energy regulations and industries seek cost-effective solutions to lower operational expenses, the demand for organic rankine cycle -based waste heat recovery solutions grows, fueling market expansion. Stricter energy regulations and the pursuit of cost-effective operational solutions are driving the demand for ORC-based technologies, leading to significant market growth. Innovations in working fluids and high-efficiency components have further boosted ORC performance, allowing for effective operation at lower temperatures. Improved turbine designs and heat exchangers facilitate greater energy conversion efficiency, establishing ORC systems as viable and scalable sustainable energy solutions across diverse applications.

Top-down and bottom-up approaches were used to estimate and validate the size of the Global Organic Rankine Cycle market and to estimate the size of various other dependent submarkets. The research methodology used to estimate the market size includes the following details: The key players in the market were identified through secondary research, and their market shares in the respective regions were determined through primary and secondary research. This entire procedure includes the study of the annual and financial reports of the top market players and extensive interviews for key insights from industry leaders such as CEOs, VPs, directors, and marketing executives. All percentage shares split, and breakdowns were determined using secondary sources and verified through Primary sources. All possible parameters that affect the markets covered in this research study have been accounted for, viewed in extensive detail, verified through primary research, and analyzed to get the final quantitative and qualitative data.

Global Organic Rankine Cycle Market Segments Analysis

Global Organic Rankine Cycle Market is segmented by Component, Power Generation, Heat Source, Application, End User Industry and region. Based on Component, the market is segmented into Turbine, Expander, Heat Exchanger and Controls and Instrumentation. Based on Power Generation, the market is segmented into 1 MW, 1-10 MW, 10-50 MW and >50 MW. Based on Heat Source, the market is segmented into Waste Heat Recovery, Geothermal Energy, Solar Energy and Biomass Energy. Based on Application, the market is segmented into Power Generation, Cogeneration, District Heating and Industrial Process Heat. Based on End User Industry, the market is segmented into Oil and Gas, Manufacturing, Mining, Power Utilities and Others. Based on region, the market is segmented into North America, Europe, Asia Pacific, Latin America and Middle East & Africa.

Driver of the Global Organic Rankine Cycle Market

The growing emphasis on enhancing energy efficiency within industries is significantly propelling the uptake of organic rankine cycle technology. Sectors like steel, cement, and oil and gas produce substantial amounts of waste heat, which can be harnessed by organic rankine cycle systems to generate usable energy. Additionally, the push from governmental incentives and policies aimed at carbon reduction is facilitating the expanded implementation of organic rankine cycle solutions in applications focused on recovering waste heat. This trend not only supports sustainability efforts but also contributes to the overall resilience and efficiency of industrial operations.

Restraints in the Global Organic Rankine Cycle Market

The Global Organic Rankine Cycle market encounters several challenges that hinder its efficiency in converting low-grade heat into electricity, thereby restricting its application across various industries. Key obstacles include the selection of appropriate working fluids, the efficiency of heat exchangers, and the complexities involved in system integration, all of which can impede optimal performance. Additionally, the lack of ongoing research and development, along with the absence of advancements driven by artificial intelligence, poses a risk of diminishing the adoption and commercial scalability of Organic Rankine Cycle systems in the energy sector.

Market Trends of the Global Organic Rankine Cycle Market

The global Organic Rankine Cycle (ORC) market is witnessing a significant upward trend, primarily due to the rising adoption of ORC systems for waste heat recovery across various industries. Key sectors such as steel, cement, and oil & gas are increasingly implementing this technology to enhance energy efficiency and promote sustainability. The need to meet stringent environmental regulations and pursue aggressive decarbonization initiatives is propelling the integration of ORC systems, which effectively convert low-grade waste heat into valuable electricity. This growing focus on reducing carbon footprints and optimizing energy utilization is expected to drive substantial market growth in the coming years.

Table of Contents

Introduction

• Objectives of the Study
• Scope of the Report
• Definitions

Research Methodology

• Information Procurement
• Secondary & Primary Data Methods
• Market Size Estimation
• Market Assumptions & Limitations

Executive Summary

• Global Market Outlook
• Supply & Demand Trend Analysis
• Segmental Opportunity Analysis

Market Dynamics & Outlook

• Market Overview
• Market Size
• Market Dynamics
  • Drivers & Opportunities
  • Restraints & Challenges
• Porters Analysis
  • Competitive rivalry
  • Threat of substitute
  • Bargaining power of buyers
  • Threat of new entrants
  • Bargaining power of suppliers

Key Market Insights

• Key Success Factors
• Degree of Competition
• Top Investment Pockets
• Market Ecosystem
• Market Attractiveness Index, 2024
• PESTEL Analysis
• Macro-Economic Indicators
• Value Chain Analysis
• Pricing Analysis

Global Organic Rankine Cycle Market Size by Component & CAGR (2025-2032)

• Market Overview
• Turbine
• Expander
• Heat Exchanger
• Controls and Instrumentation

Global Organic Rankine Cycle Market Size by Power Generation & CAGR (2025-2032)

• Market Overview
• 1 MW
• 1-10 MW
• 10-50 MW
• >50 MW

Global Organic Rankine Cycle Market Size by Heat Source & CAGR (2025-2032)

• Market Overview
• Waste Heat Recovery
• Geothermal Energy
• Solar Energy
• Biomass Energy

Global Organic Rankine Cycle Market Size by Application & CAGR (2025-2032)

• Market Overview
• Power Generation
• Cogeneration
• District Heating
• Industrial Process Heat

Global Organic Rankine Cycle Market Size by End User Industry & CAGR (2025-2032)

• Market Overview
• Oil and Gas
• Manufacturing
• Mining
• Power Utilities
• Others

Global Organic Rankine Cycle Market Size & CAGR (2025-2032)

• North America (Component, Power Generation, Heat Source, Application, End User Industry)
  • US
  • Canada
• Europe (Component, Power Generation, Heat Source, Application, End User Industry)
  • Germany
  • Spain
  • France
  • UK
  • Italy
  • Rest of Europe
• Asia Pacific (Component, Power Generation, Heat Source, Application, End User Industry)
  • China
  • India
  • Japan
  • South Korea
  • Rest of Asia-Pacific
• Latin America (Component, Power Generation, Heat Source, Application, End User Industry)
  • Brazil
  • Rest of Latin America
• Middle East & Africa (Component, Power Generation, Heat Source, Application, End User Industry)
  • GCC Countries
  • South Africa
  • Rest of Middle East & Africa

Competitive Intelligence

• Top 5 Player Comparison
• Market Positioning of Key Players, 2024
• Strategies Adopted by Key Market Players
• Recent Developments in the Market
• Company Market Share Analysis, 2024
• Company Profiles of All Key Players
  • Company Details
  • Product Portfolio Analysis
  • Company's Segmental Share Analysis
  • Revenue Y-O-Y Comparison (2022-2024)

Key Company Profiles

• Turboden S.p.A. (Italy)
  • Company Overview
  • Business Segment Overview
  • Financial Updates
  • Key Developments
• Ormat Technologies Inc. (USA)
  • Company Overview
  • Business Segment Overview
  • Financial Updates
  • Key Developments
• Exergy International S.r.l. (Italy)
  • Company Overview
  • Business Segment Overview
  • Financial Updates
  • Key Developments
• Kaishan Group (China)
  • Company Overview
  • Business Segment Overview
  • Financial Updates
  • Key Developments
• Enertime (France)
  • Company Overview
  • Business Segment Overview
  • Financial Updates
  • Key Developments
• Calnetix Technologies (USA)
  • Company Overview
  • Business Segment Overview
  • Financial Updates
  • Key Developments
• Bosch KWK Systeme (Germany)
  • Company Overview
  • Business Segment Overview
  • Financial Updates
  • Key Developments
• Againity AB (Sweden)
  • Company Overview
  • Business Segment Overview
  • Financial Updates
  • Key Developments
• Electratherm (USA)
  • Company Overview
  • Business Segment Overview
  • Financial Updates
  • Key Developments
• INTEC GMK GmbH (Germany)
  • Company Overview
  • Business Segment Overview
  • Financial Updates
  • Key Developments
• Zuccato Energia srl (Italy)
  • Company Overview
  • Business Segment Overview
  • Financial Updates
  • Key Developments
• Infinity Turbine (USA)
  • Company Overview
  • Business Segment Overview
  • Financial Updates
  • Key Developments
• TAS Energy (USA)
  • Company Overview
  • Business Segment Overview
  • Financial Updates
  • Key Developments
• GMK Energy (South Korea)
  • Company Overview
  • Business Segment Overview
  • Financial Updates
  • Key Developments
• ABB Ltd (Switzerland/Sweden)
  • Company Overview
  • Business Segment Overview
  • Financial Updates
  • Key Developments
• Alfa Laval AB (Sweden)
  • Company Overview
  • Business Segment Overview
  • Financial Updates
  • Key Developments
• Atlas Copco AB (Sweden)
  • Company Overview
  • Business Segment Overview
  • Financial Updates
  • Key Developments
• Durr AG (Germany)
  • Company Overview
  • Business Segment Overview
  • Financial Updates
  • Key Developments
• Enogia SAS (France)
  • Company Overview
  • Business Segment Overview
  • Financial Updates
  • Key Developments
• Orcan Energy AG (Germany)
  • Company Overview
  • Business Segment Overview
  • Financial Updates
  • Key Developments

Conclusion & Recommendations