ORC Industrial Waste Heat To Power Market by System Type (Organic Rankine Cycle (ORC) Systems, Steam Rankine Cycle (SRC) Systems), Heat Source (Waste Heat from Industrial Processes, Geothermal Heat, Biomass Combustion, Solar Thermal Energy), Capacity (Less than 1 MW, 1 MW to 5 MW, More than 5 MW), End-User Industry (Manufacturing, Oil & Gas, Chemical Industry, Power Generation, Food & Beverage, Pulp & Paper) – Global Insights & Forecast (2023 – 2030)

As per Intent Market Research, the ORC Industrial Waste Heat To Power Market was valued at USD 3.0 Billion in 2024-e and will surpass USD 6.5 Billion by 2030; growing at a CAGR of 14.1% during 2025-2030.

The ORC (Organic Rankine Cycle) industrial waste heat to power market has witnessed steady growth due to the increasing need for energy efficiency and the growing emphasis on sustainability in industrial operations. ORC systems capture low-temperature waste heat and convert it into electricity, making them a popular choice in industries aiming to reduce energy wastage and greenhouse gas emissions. As industries face rising energy costs and stringent environmental regulations, adopting waste heat recovery technologies has become a strategic priority.

Governments and regulatory bodies worldwide are promoting the adoption of waste heat recovery systems through incentives and policies aimed at reducing carbon footprints. This, coupled with advancements in ORC technology that enhance system efficiency and reduce costs, has contributed to the growing adoption of ORC systems across diverse industries. The market is expected to expand further as industries increasingly prioritize energy recovery and the transition to sustainable energy sources.

Organic Rankine Cycle Systems Are the Largest Segment Due to Efficiency and Versatility

Organic Rankine Cycle (ORC) systems dominate the market due to their superior efficiency and adaptability across a variety of heat sources. ORC systems use organic fluids with lower boiling points than water, enabling the recovery of waste heat from low-temperature sources that are typically unusable by traditional systems. These systems are particularly effective in industries like manufacturing, oil & gas, and power generation, where waste heat is abundant and energy efficiency is crucial.

The ability of ORC systems to integrate with diverse heat sources such as geothermal energy, biomass combustion, and industrial waste heat has further strengthened their appeal. Moreover, their compact design, low maintenance requirements, and ability to operate autonomously make them a preferred choice for industrial applications. As industries continue to focus on reducing operational costs and emissions, ORC systems are expected to maintain their dominance in the market.

Waste Heat from Industrial Processes is the Largest Heat Source Segment Due to Prevalence

Waste heat from industrial processes represents the largest heat source segment in the market, driven by the significant volume of heat energy that goes unused in industries such as manufacturing, chemical processing, and metal production. Industrial processes such as furnaces, kilns, and engines often produce large amounts of low-grade waste heat, which can be effectively harnessed by ORC systems to generate electricity.

This segment's dominance is supported by the global trend of industrial decarbonization, where industries are adopting waste heat recovery technologies to meet sustainability goals and comply with environmental regulations. The economic benefits of recovering waste heat—reducing energy costs and improving operational efficiency—are also key factors driving the adoption of ORC systems for this heat source. As industries continue to focus on energy optimization, this segment is expected to remain the largest contributor.

1 MW to 5 MW Capacity Segment is Fastest Growing Due to Flexibility and Demand from Mid-Sized Industries

The 1 MW to 5 MW capacity segment is the fastest-growing capacity category, driven by its suitability for mid-sized industrial operations and the increasing adoption of distributed power generation systems. ORC systems in this capacity range offer an optimal balance between cost-effectiveness and power output, making them attractive to industries such as food & beverage, chemical processing, and pulp & paper.

The scalability and flexibility of ORC systems in this range allow businesses to customize solutions to meet their specific energy needs without significant capital investment. Furthermore, advancements in modular ORC technology have made these systems easier to install and integrate into existing operations, accelerating their adoption. As mid-sized industries focus on improving energy efficiency and meeting sustainability targets, the 1 MW to 5 MW capacity segment is expected to experience rapid growth.

Liquid-Based Organic Rankine Cycle Systems Dominate Due to Operational Efficiency

Liquid-based ORC systems, which utilize liquid organic fluids for heat transfer, dominate the form segment due to their operational efficiency and compatibility with a wide range of heat sources. These systems offer higher thermal stability, improved heat transfer capabilities, and reduced operational complexities, making them the preferred choice for industrial applications. Liquid-based systems are particularly effective in high-heat applications such as waste heat recovery from furnaces and boilers, ensuring consistent and reliable power generation.

As industries prioritize efficiency and operational reliability, liquid-based ORC systems are poised to maintain their leadership in the form segment. Their ability to maximize energy recovery while minimizing system downtime further strengthens their position in the market.

North America is the Largest Region Due to Industrial Activity and Regulatory Support

North America leads the ORC industrial waste heat to power market, driven by its well-established industrial base and supportive regulatory framework. The United States, in particular, has seen significant adoption of waste heat recovery systems, supported by stringent environmental regulations and government incentives promoting energy efficiency. Industries in this region are increasingly turning to ORC systems to reduce energy costs and comply with emission reduction targets.

The high level of awareness about sustainable energy practices, coupled with the presence of key market players, has further solidified North America's position as the largest regional market. With ongoing investments in industrial energy optimization and the adoption of advanced technologies, the region is expected to maintain its dominance in the coming years.

Leading Companies and Competitive Landscape

The ORC industrial waste heat to power market is highly competitive, with key players focusing on technological advancements and strategic partnerships to strengthen their market position. Leading companies such as Turboden S.p.A., Ormat Technologies, and Enogia are at the forefront of innovation, offering customized ORC solutions for various industrial applications.

These companies are also investing in research and development to improve system efficiency and reduce costs, making ORC technology more accessible to a broader range of industries. The competitive landscape is characterized by collaborations between technology providers and industrial operators, as well as the growing presence of regional players catering to specific markets. As the demand for energy-efficient and sustainable solutions continues to rise, the competition in this market is expected to intensify.

Recent Developments:

• In December 2024, Ormat Technologies, Inc. expanded its ORC solutions to include integrated waste heat recovery systems for petrochemical plants.
• In November 2024, Siemens AG announced a new ORC-based waste heat recovery project for a large manufacturing facility in Europe.
• In October 2024, General Electric (GE) launched a new ORC waste heat recovery system tailored for chemical processing industries.
• In September 2024, Turboden S.r.l. introduced an advanced radial turbine expander for industrial-scale ORC applications.
• In August 2024, Exergy International S.r.l. signed a strategic partnership with a global food processing company to implement ORC systems for waste heat recovery.

List of Leading Companies:

• Ormat Technologies, Inc.
• Siemens AG
• General Electric Company (GE)
• MAN Energy Solutions
• Turboden S.r.l.
• Exergy International S.r.l.
• Engeco S.p.A.
• Kaishan Compressor Co., Ltd.
• Caterpillar Inc.
• ElectraTherm, Inc.
• Liebherr Group
• Abengoa S.A.
• Heat Mining Co., Ltd.
• Enel Green Power S.p.A.
• Wärtsilä Corporation

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