Global Organic Rankine Cycle (ORC) Waste Heat to Power Market is expected to grow positively through 2032 owing to the strong product demand within the manufacturing industry.

Some of the important energy-intensive industries (EIIs) with significant potential for waste heat recovery include cement, pulp and paper, fertilizers and petrochemicals, steel and iron production, as well as textiles. Government expenditure on infrastructure investment and favorable regulations in developing markets have fueled the expansion of EIIs.

Manufacturers have been concentrating on hefty investments to improve production capacity given the expanding need for the organic rankine cycle (ORC) in the waste heat recovery, geothermal, biomass, and oil & gas, and solar thermal sectors.

Leading companies in the market are investing in infrastructural development in emerging nations to grow their presence globally. For instance, in February 2021, Turboden and Siemens Energy updated a high-performance gas station at GASCO in Dahshour, Egypt. The 28 MWe Natural Rankine Cycle plan was paired with Electrical Motor Driven Trains operating in island mode to construct the Dahshour station, which has a pressure limitation of 25% and requires almost no extra energy.

The ORC waste heat to power market has been divided in terms of power output and region.

Based on power output, the ? 1 MWe segment held more than 26% market share in 2022. The lack of additional emissions from the electricity provided by ORC systems is further boosting their acceptance in geothermal, biomass, solar thermal, and O&G sectors.

Meanwhile, the > 1 - 5 MWe segment is slated to expand substantially through the forecast period. These systems are used in many industries, including oil and gas, waste to energy, and waste heat to power, among many others, owing to their ease of deployment in industrial sites.

From the regional perspective, the Europe ORC waste heat to power industry is anticipated to grow at over 16% CAGR between 2023 to 2032. The adoption of various standards for energy efficiency and attempts to reduce the GHG emissions from the major economic sectors are expected to lead to a significant increase in the regional ORC waste heat to power market valuation. According to a report by the World Economic Forum, the European Commission has committed to reducing the GHG emissions from the EU to 50% by 2030, producing ’net-zero’ emissions by 2050.