ORC Waste Heat to Power Market is expected to Grow with a CAGR of 12.67% through 2030

The ORC Waste Heat to Power Market is driven by increasing energy efficiency demands, rising industrial waste heat availability, stringent environmental regulations, and growing focus on sustainable power generation and reducing carbon emissions globally.

According to TechSci Research report, “ORC Waste Heat to Power Market – Global Industry Size, Share, Trends, Competition Forecast & Opportunities, 2030F”, the ORC Waste Heat to Power Market was valued at USD 24.81 Billion in 2024 and is expected to reach USD 51.21 Billion by 2030 with a CAGR of 12.67%. The ORC (Organic Rankine Cycle) Waste Heat to Power market is primarily driven by the increasing global emphasis on energy efficiency and sustainable power generation, as industries and governments worldwide strive to reduce carbon emissions and operational costs. Waste heat recovery represents a significant opportunity for industries such as manufacturing, oil & gas, cement, and steel production, where large quantities of low- to medium-temperature waste heat are typically lost to the environment. ORC technology enables the conversion of this otherwise wasted thermal energy into usable electricity, thereby enhancing overall energy utilization efficiency without additional fuel consumption or emissions.

Rising energy prices and tightening environmental regulations further incentivize businesses to adopt ORC systems as a cost-effective solution for reducing their carbon footprint and achieving energy self-sufficiency. Additionally, the growing adoption of renewable energy sources has created an increased demand for complementary technologies like ORC that can optimize energy harvesting from alternative and waste heat sources. Technological advancements in ORC system components, such as improved working fluids, enhanced heat exchangers, and modular, compact designs, have improved system efficiency, reliability, and ease of integration with existing industrial processes, making ORC more economically viable and appealing across various sectors.

Government initiatives and subsidies aimed at promoting energy conservation and emissions reduction are also playing a crucial role in accelerating market growth. Furthermore, the flexibility of ORC technology to operate effectively at lower temperatures compared to traditional steam Rankine cycles broadens its application range, enabling deployment in sectors previously considered unsuitable for waste heat recovery. This versatility, combined with the increasing industrialization in emerging economies, creates a vast market potential as these regions seek to meet their growing energy demands sustainably. The shift towards circular economy models, focusing on resource optimization and waste minimization, also complements the adoption of ORC systems.

Browse over XX Market data Figures spread through XX Pages and an in-depth TOC on the "Global ORC Waste Heat to Power Market.” 

Based on the Product, Steam Rankine Cycle segment held the largest Market share in 2024. The Steam Rankine Cycle (SRC) segment within the ORC (Organic Rankine Cycle) Waste Heat to Power Market is propelled by several critical market drivers that collectively stimulate its growth and adoption across various industries. Primarily, the rising global emphasis on energy efficiency and sustainability significantly drives the demand for SRC technology, as industries strive to reduce their carbon footprints and operational costs by recovering and converting waste heat into usable electrical power. This is particularly relevant in sectors such as power generation, chemical processing, and manufacturing, where large amounts of low-to-medium temperature waste heat are abundant but often underutilized.

The Steam Rankine Cycle, known for its well-established technology and reliability, offers an efficient and mature solution to harness this thermal energy, thereby enhancing overall plant efficiency and reducing dependence on fossil fuels. Moreover, stringent environmental regulations and government policies aimed at curbing greenhouse gas emissions encourage industries to adopt waste heat recovery systems like SRC to comply with regulatory frameworks and avoid penalties. Financial incentives such as subsidies, tax credits, and grants for implementing clean energy technologies further incentivize investment in SRC waste heat recovery solutions. Additionally, the rising cost of electricity and fuel acts as a strong economic driver, making waste heat recovery via SRC an attractive option to reduce energy expenses and improve profitability.

Technological advancements in steam turbines, heat exchangers, and control systems also bolster the SRC segment by improving system efficiency, operational flexibility, and ease of integration with existing industrial setups. The scalability of SRC systems enables their deployment across a wide range of applications, from small-scale industries to large power plants, thereby expanding market penetration. Furthermore, growing awareness and increasing industrial electrification accelerates the adoption of SRC waste heat to power systems as companies seek to optimize energy use and achieve sustainability goals.

The industrial trend towards digitalization and Industry 4.0 also plays a role, as advanced monitoring and predictive maintenance capabilities enhance the reliability and performance of SRC installations, minimizing downtime and operational risks. Together, these factors contribute to the growing preference for the Steam Rankine Cycle in the ORC Waste Heat to Power Market, positioning it as a key technology to unlock energy recovery potential, reduce environmental impact, and support the global transition to a more sustainable and energy-efficient industrial future.

Based on region, Asia Pacific is the fastest-growing region in the Organic Rankine Cycle. This growth is driven by rapid industrialization, stringent emission regulations, and a strong push towards renewable energy adoption. Countries like China, India, and Japan are leading the charge, leveraging ORC technology to convert low- and medium-temperature waste heat into electricity, thereby enhancing energy efficiency and reducing carbon footprints . Government incentives, such as subsidies and tax breaks, further bolster the adoption of ORC systems across industries including manufacturing, oil & gas, and power generation . Collaborations between industry leaders and renewable energy specialists are also accelerating the deployment of ORC-powered geothermal power plants, particularly in Southeast Asia . Collectively, these factors position Asia Pacific as a dynamic hub for ORC Waste Heat to Power solutions.

Major companies operating in the Global ORC Waste Heat to Power Market are:

• 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.

Download Free Sample Report

Customers can also request 10% free customization in this report.

“The Global ORC Waste Heat to Power Market is expected to rise in the upcoming years and register a significant CAGR during the forecast period. The ORC Waste Heat to Power market is poised for robust growth, propelled by escalating industrial mandates for energy efficiency and increasingly stringent environmental regulations on a global scale. The accelerating shift towards renewable energy sources and the imperative to lower carbon footprints drive widespread adoption of waste heat recovery solutions. Key industries, including manufacturing, oil & gas, and automotive, present expanding application opportunities. Continuous technological advancements enhancing ORC system performance and cost-efficiency further strengthen market potential. Moreover, supportive government policies and increased funding for sustainable energy initiatives are creating conducive conditions for accelerated market penetration, particularly within emerging economies prioritizing green energy transitions. Therefore, the Market of ORC Waste Heat to Power is expected to boost in the upcoming years.,” said Mr. Karan Chechi, Research Director of TechSci Research, a research-based management consulting firm.

“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, By Competition, 2020-2030F”, has evaluated the future growth potential of Global ORC Waste Heat to Power Market and provides statistics & information on the Market size, structure, and future Market growth. The report intends to provide cutting-edge Market intelligence and help decision-makers make sound investment decisions., The report also identifies and analyzes the emerging trends along with essential drivers, challenges, and opportunities in the Global ORC Waste Heat to Power Market.

Contact

Techsci Research LLC

420 Lexington Avenue,

Suite 300, New York,

United States- 10170                   

Tel: +13322586602

Email: [email protected]

Website: www.techsciresearch.com