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PUBLISHER: Grand View Research | PRODUCT CODE: 1363127
PUBLISHER: Grand View Research | PRODUCT CODE: 1363127
Organic Rankine Cycle Market Size, Share & Trends Analysis Report By Application (Waste Heat Recovery, Biomass, Geothermal, Solar Thermal, Oil & Gas, Waste To Energy), By Region, And Segment Forecasts, 2023 - 2030
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PAGES: 110 Pages
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Organic Rankine Cycle Market Growth & Trends:
The global organic rankine cycle market size is expected to reach USD 1,073.24 million by 2030, according to a new report by Grand View Research, Inc.. The market is expected to expand at a CAGR of 4.1% from 2023 to 2030. The adoption of renewable energy systems in countries such as the U.S., China, Germany, and Canada is being driven by supportive regulations and the provision of financial incentives for their deployment. Incentives such as feed-in-tariff, subsidies, and tax benefits are some of the major tools utilized by countries globally to attract investments in the renewable energy sector. These factors are expected to propel the growth of the organic rankine cycle (ORC) market in the near future.
The supply chains concerning the spare parts for ORC systems were majorly affected due to the shutdown of production facilities during the COVID-19 pandemic. The manufacturing of components in the energy & power sector slowed down considerably. In addition, local and international travel restrictions, quarantine requirements, and lockdowns caused delays in the shipment of already manufactured parts to be supplied to distributors and end-users. ORC manufacturers usually have access to an adequate supply of critical parts, devices, components, and materials for emergencies. However, these companies faced bottlenecks due to the limited production of supplies in countries severely affected by COVID-19.
The geothermal segment led the market with the largest revenue share in 2022. The major reason for the dominance of this segment is the large-scale megawatt capacity of geothermal projects, as compared to other application segments such as biomass, waste heat recovery, and solar thermal. Generally, each geothermal project is of a capacity of over 10 MW, whereas ORC-based projects in other application segments are not always of capacities equivalent to 10 MW and are generally less than 1 to 2 MW.
The ORC market is highly concentrated, with major companies such as Ormat, Turboden, and Exergy accounting for more than 75% of the market share in 2022. These companies, apart from equipment supply, are also focusing on providing EPC and long-term maintenance services to enhance their market share further. This factor is expected to aid these companies in maintaining their dominance in the ORC market during the forecast period.
Organic Rankine Cycle Market Report Highlights:
- The geothermal segment held the largest market share of 60.58% in terms of application in the global ORC market in 2022. Geothermal projects are usually of higher capacity as compared to biomass and waste heat recovery projects, owing to which the ORC market share was higher for geothermal applications in 2022, aided by the deployment of large-scale geothermal projects in recent years
- As of 2022, Europe accounted for 33.51% of the revenue share in the overall market. The European region has been a front-runner in implementing favorable policies and support mechanisms for the growth of renewable energy and energy efficiency projects worldwide. This has resulted in the European region accounting for a dominant share of the global ORC market
- Various strategic initiatives have been recorded over the past few years that serve to boost the growth of the market. For instance, in May 2023, Turboden, Pietro Fiorentini, and Unareti collaborated to improve the Macconago reduction and measurement station, which is a key entry point into Milan's natural gas distribution network. This upgrade project involves the installation of approximately 4 MWe of gas expanders aimed at harnessing electricity from the natural gas load loss associated with the facility's pressure drop
Product Code: GVR-4-68038-071-2
Table of Contents
Chapter 1 Methodology & Scope
- 1.1 Market Segmentation & Scope
- 1.1.1 Market Definitions
- 1.2 Information Procurement
- 1.2.1 Purchased Database
- 1.2.2 GVR's Internal Database
- 1.2.3 Secondary Source
- 1.2.4 Third Party Perspective
- 1.2.5 Primary Research
- 1.3 Information Analysis
- 1.3.1 Data Analysis Models
- 1.4 Market Formulation and Data Visualization
- 1.5 Data Validation and Publishing
Chapter 2 Executive Summary
- 2.1 Market Snapshot
- 2.2 Segment Snapshot
- 2.3 Competitive Landscape Snapshot
Chapter 3 Organic Rankine Cycle Market: Market Variables, Trends, & Scope
- 3.1 Market Lineage Outlook
- 3.2 Industry Value Chain Analysis
- 3.3 Raw Material Trends
- 3.3.1 Major raw material analysis
- 3.3.1.1 Steel
- 3.3.1.2 Organic Fluid
- 3.3.1 Major raw material analysis
- 3.4 Technology Overview
- 3.4.1 TURBINEs
- 3.4.2 HEAT EXCHANGERS
- 3.4.3 CONDENSERs
- 3.4.4 FEED PUMPs
- 3.5 Regulatory Framework
- 3.5.1 Policies and Regulations by Countries
- 3.5.2 Standard & Compliances
- 3.5.3 Safety
- 3.6 Market Dynamics
- 3.6.1 Market Driver Impact Analysis
- 3.6.1.1 RISE IN ADOPTION OF RENEWABLE ENERGY
- 3.6.1.2 Long lifecycle coupled with low O&M costs
- 3.6.2 Market Restraint Impact Analysis
- 3.6.2.1 PRESENCE OF SUBSTITUTES
- 3.6.3 Opportunity Assessment
- 3.6.4 Industry Challenges
- 3.6.1 Market Driver Impact Analysis
- 3.7 Business Environment Analysis: Organic Rankine Cycle Market
- 3.7.1 Industry Analysis - Porter's Five Forces
- 3.7.2 PESTEL analysis
- 3.8 Project Brief
- 3.8.1 Case study-1
- 3.8.1.1 Customer brief:
- 3.8.1.2 Need:
- 3.8.1.3 Solution:
- 3.8.2 Case study-2
- 3.8.2.1 Customer brief:
- 3.8.2.2 Need:
- 3.8.2.3 Solution:
- 3.8.3 Case study-3
- 3.8.3.1 Customer brief:
- 3.8.3.2 Need:
- 3.8.3.3 Solution:
- 3.8.4 Case study-4
- 3.8.4.1 Customer brief:
- 3.8.4.2 Need:
- 3.8.4.3 Solution:
- 3.8.5 Case study-5
- 3.8.5.1 Customer brief:
- 3.8.5.2 Need:
- 3.8.5.3 Solution:
- 3.8.1 Case study-1
- 3.9 Impact of COVID-19 on Organic Rankine Cycle market
- 3.9.1 Impact of COVID-19 on Organic Rankine cycle Supply Side
- 3.9.2 Impact of COVID-19 on Organic Rankine cycle Market
- 3.9.3 Challenges
- 3.9.4 Impact Verdict - Medium
Chapter 4 Organic Rankine Cycle Market: Application Estimates & Trend Analysis
- 4.1 Application Movement Analysis & Market Share, 2022 & 2030
- 4.2 Application Movement Analysis & Market Share, 2022 & 2030
- 4.3 Organic Rankine cycle market Estimates & Forecasts, by Application (MW) (USD Million)
- 4.3.1 Waste Heat Recovery
- 4.3.1.1 Petroleum Refinery
- 4.3.1.2 Chemical
- 4.3.1.3 Glass
- 4.3.1.4 Cement
- 4.3.1.5 Metal Production and Casting
- 4.3.2 Biomass
- 4.3.3 Geothermal
- 4.3.4 Solar Thermal
- 4.3.5 Oil & Gas (Gas Pipeline Pressure Stations)
- 4.3.6 Waste to Energy
- 4.3.1 Waste Heat Recovery
Chapter 5 Organic Rankine Cycle Market: Regional Estimates & Trend Analysis
- 5.1 Organic Rankine Cycle Market: Regional Outlook
- 5.2 North America
- 5.2.1 North America organic Rankine cycle market estimates & forecasts, 2018 - 2030 (USD Million) (MW)
- 5.2.2 U.S.
- 5.2.2.1 U.S. organic Rankine cycle market estimates & forecasts, 2018 - 2030 (USD Million) (MW)
- 5.2.3 Canada
- 5.2.3.1 Canada organic Rankine cycle market estimates & forecasts, 2018 - 2030 (USD Million) (MW)
- 5.3 Europe
- 5.3.1 Europe organic Rankine cycle market estimates & forecasts, 2018 - 2030 (USD Million) (MW)
- 5.3.2 Germany
- 5.3.2.1 Germany organic Rankine cycle market estimates & forecasts, 2018 - 2030 (USD Million) (MW)
- 5.3.3 Turkey
- 5.3.3.1 Turkey organic Rankine cycle market estimates & forecasts, 2018 - 2030 (USD Million) (MW)
- 5.3.4 Italy
- 5.3.4.1 Italy organic Rankine cycle market estimates & forecasts, 2018 - 2030 (USD Million) (MW)
- 5.4 Asia Pacific
- 5.4.1 Asia Pacific organic Rankine cycle market estimates & forecasts, 2018 - 2030 (USD Million) (MW)
- 5.4.2 China
- 5.4.2.1 China organic Rankine cycle market estimates & forecasts, 2018 - 2030 (USD Million) (MW)
- 5.4.3 Japan
- 5.4.3.1 Japan organic Rankine cycle market estimates & forecasts, 2018 - 2030 (USD Million) (MW)
- 5.4.4 Thailand
- 5.4.4.1 Thailand organic Rankine cycle market estimates & forecasts, 2018 - 2030 (USD Million) (MW)
- 5.5 Central & South America
- 5.5.1 Central & South America organic Rankine cycle market estimates & forecasts, 2018 - 2030 (USD Million) (MW)
- 5.6 Middle East & Africa
- 5.6.1 Middle East & Africa organic Rankine cycle market estimates & forecasts, 2018 - 2030 (USD Million) (MW)
Chapter 6 Organic Rankine Cycle Market: Competitive Landscape
- 6.1 Recent Developments & Their Impact Analysis, by Key Market Participants
- 6.2 Company Categorization
- 6.3 Participant's Overview
- 6.3.1 Turboden S.p.A.
- 6.3.2 EXERGY INTERNATIONAL SRL
- 6.3.3 Zhejiang Kaishan Compressor Co., Ltd.
- 6.3.4 Enogia
- 6.3.5 Triogen
- 6.3.6 Calnetix Technologies, LLC
- 6.3.7 ABB Ltd
- 6.3.8 Atlas Copco AB
- 6.3.9 TAS Energy
- 6.3.10 Elvosolar a.s.
- 6.3.11 General Electric
- 6.3.12 INTEC Engineering GmbH
- 6.3.13 SUMEC Geopower AG
- 6.3.14 ORCAN ENERGY AG
- 6.4 Financial Performance
- 6.5 Product Benchmarking
- 6.6 Company Market Positioning
- 6.7 Company Heat Map Analysis
- 6.8 List of Key Distributors and Channel Partners
- 6.9 Company Market Share Analysis
- 6.10 Strategy Mapping
- 6.10.1 Expansions
- 6.10.2 Mergers & acquisitions
- 6.10.3 Collaborations
- 6.10.4 New facility/product launches
- 6.10.5 Partnerships/Joint Ventures
- 6.10.6 Research and Development
Product Code: GVR-4-68038-071-2
List of Tables
- Table 1 List of major steel-producing countries 2021 and 2022 (MT)
- Table 2 Basic properties of organic (working) fluids
- Table 3 Key Policies and Regulations by Countries
- Table 4 Standards and compliances for ORC
- Table 5 Organic Rankine cycle market estimates and forecasts, by application, 2018 - 2030 (MW)
- Table 6 Organic Rankine cycle market estimates and forecasts, by application, 2018 - 2030 (USD Million)
- Table 7 Company Heat Map Analysis
- Table 8 Top 3 Companies Market Share, 2022
- Table 9 Key companies undergoing expansions
- Table 10 Key companies involved in mergers & acquisitions
- Table 11 Key companies involved in collaborations
- Table 12 Key companies carrying out new facility/product launches
- Table 13 Key companies involved in partnerships/joint ventures
List of Figures
- Fig. 1 Organic Rankine cycle market segmentation
- Fig. 2 Information procurement
- Fig. 3 Primary research pattern
- Fig. 4 Primary research process
- Fig. 5 Primary research approaches
- Fig. 6 Market Snapshot
- Fig. 7 Segment snapshot
- Fig. 8 Competitive landscape snapshot
- Fig. 9 Heat Recovery System Market Value, 2022 (USD Million)
- Fig. 10 ORC market - Industry value chain analysis
- Fig. 11 Organic Rankine cycle market - Porter's Five Forces analysis
- Fig. 12 Organic Rankine cycle market - PESTEL analysis
- Fig. 13 Organic Rankine cycle market, by application: Key takeaways
- Fig. 14 Organic Rankine cycle market, by Application: Market share, 2022 & 2030
- Fig. 15 Organic Rankine cycle market, by Application: Market Share, 2022 & 2030
- Fig. 16 Organic Rankine cycle market estimates & forecasts, for waste heat recovery, 2018 - 2030 (MW) (USD Million)
- Fig. 17 Organic Rankine cycle market estimates & forecasts, for petroleum refinery, 2018 - 2030 (MW) (USD Million)
- Fig. 18 Organic Rankine cycle market estimates & forecasts, for chemical, 2018 - 2030 (MW) (USD Million)
- Fig. 19 Organic Rankine cycle market estimates & forecasts, for glass, 2018 - 2030 (MW) (USD Million)
- Fig. 20 Organic Rankine cycle market estimates & forecasts, for cement, 2018 - 2030 (MW) (USD Million)
- Fig. 21 Organic Rankine cycle market estimates & forecasts, for metal production and casting, 2018 - 2030 (MW) (USD Million)
- Fig. 22 Organic Rankine cycle market estimates & forecasts, for biomass, 2018 - 2030 (MW) (USD Million)
- Fig. 23 Organic Rankine cycle market estimates & forecasts, by geothermal, 2018 - 2030 (MW) (USD Million)
- Fig. 24 Organic Rankine cycle market estimates & forecasts, by solar thermal, 2018 - 2030 (MW) (USD Million)
- Fig. 25 Organic Rankine cycle market estimates & forecasts, by oil & gas (gas pipeline pressure stations), 2018 - 2030 (MW) (USD Million)
- Fig. 26 Organic Rankine cycle market estimates & forecasts, by waste to energy, 2018 - 2030 (MW) (USD Million)
- Fig. 27 Organic Rankine cycle market revenue, by region, 2022 & 2030 (USD Million)
- Fig. 28 Regional marketplace: Key takeaways
- Fig. 29 Regional marketplace: Key takeaways
- Fig. 30 North America organic Rankine cycle market estimates & forecasts, 2018 - 2030 (USD Million) (MW)
- Fig. 31 U.S. organic Rankine cycle market estimates & forecasts, 2018 - 2030 (USD Million) (MW)
- Fig. 32 Canada organic Rankine cycle market estimates & forecasts, 2018 - 2030 (USD Million) (MW)
- Fig. 33 Europe organic Rankine cycle market estimates & forecasts, 2018 - 2030 (USD Million) (MW)
- Fig. 34 Germany organic Rankine cycle market estimates & forecasts, 2018 - 2030 (USD Million) (MW)
- Fig. 35 Turkey organic Rankine cycle market estimates & forecasts, 2018 - 2030 (USD Million) (MW)
- Fig. 36 Italy organic Rankine cycle market estimates & forecasts, 2018 - 2030 (USD Million) (MW)
- Fig. 37 Asia Pacific organic Rankine cycle market estimates & forecasts, 2018 - 2030 (USD Million) (MW)
- Fig. 38 China organic Rankine cycle market estimates & forecasts, 2018 - 2030 (USD Million) (MW)
- Fig. 39 Japan organic Rankine cycle market estimates & forecasts, 2018 - 2030 (USD Million) (MW)
- Fig. 40 Thailand organic Rankine cycle market estimates & forecasts, 2018 - 2030 (USD Million) (MW)
- Fig. 41 Central & South America organic Rankine cycle market estimates & forecasts, 2018 - 2030 (USD Million) (MW)
- Fig. 42 Middle East & Africa organic Rankine cycle market estimates & forecasts, 2018 - 2030 (USD Million) (MW)
- Fig. 43 Key Company Categorization
- Fig. 44 Company Market Positioning
- Fig. 45 Company market share analysis, 2022
- Fig. 46 Strategic Framework
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