Organic Rankine Cycle Global Strategic Industry Report 2024: Market to Reach $1.3 Billion by 2030 - Clean Energy Generation Bonanza Portends Radical Gains

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Global Organic Rankine Cycle Market to Reach $1.3 Billion by 2030

The global market for Organic Rankine Cycle estimated at US$352.2 Million in the year 2023, is projected to reach a revised size of US$1.3 Billion by 2030, growing at a CAGR of 17.6% over the analysis period 2023-2030.

The global Organic Rankine Cycle (ORC) market is set for radical gains, driven by the surge in clean energy generation technologies. The ORC waste heat to power market is experiencing significant growth due to the adoption of these technologies, with researchers focusing on innovative ORC solutions to harness industrial waste heat. The market analysis by application and the revenue breakdown for developed and developing regions for 2024 and 2030 highlight the diverse potential of ORC technology.

Geothermal application segment is expected to record 17.9% CAGR and reach US$1.1 Billion by the end of the analysis period. Growth in the Waste Heat Recovery application segment is estimated at 15.9% CAGR for the next 8-year period.

The competitive scenario includes key global competitors' percentage market share in 2023 and the presence of strong, active, niche, and trivial players worldwide. Recent market activities and notable global brands are also discussed.

Key market trends and drivers include the increasing industrial applications of ORC, the rising demand for single-stage and cascaded ORC systems, and the commercial use of ORC systems for both small and large-scale thermal conversions. Additionally, ORC technology is being applied in steam Rankine cycle systems for nuclear and coal-fired power plants and for recycling waste heat for plant self-consumption.

Novel ORC technologies that couple subcritical and supercritical heat absorption procedures and optimized regenerative ORC systems are enhancing the performance of internal combustion engines. Overall, ORC technology is recognized for its ability to recover substantial amounts of waste heat, further bolstering its market potential.

Key Attributes:

Report AttributeDetails
No. of Pages194
Forecast Period2023 - 2030
Estimated Market Value (USD) in 2023$352.2 Million
Forecasted Market Value (USD) by 2030$1300 Million
Compound Annual Growth Rate17.6%
Regions CoveredGlobal


  • An Introduction to Organic Rankine Cycle (ORC)
  • ORC Technology: Primary Applications
  • 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 (2024 & 2030): Percentage Breakdown of Revenues for Developed and Developing Regions
  • Competitive Scenario
  • Organic Rankine Cycle - Global Key Competitors Percentage Market Share in 2023 (E)
  • Competitive Market Presence - Strong/Active/Niche/Trivial for Players Worldwide in 2023 (E)
  • Recent Market Activity
  • Select Global Brands


  • 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


  • 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

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Organic Rankine Cycle Market

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