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A recent report published by Infinium Global Research on organic rankine cycle market provides in-depth analysis of segments and sub-segments in the global as well as regional organic rankine cycle market. The study also highlights the impact of drivers, restraints, and macro indicators on the global and regional organic rankine cycle market over the short term as well as long term. The report is a comprehensive presentation of trends, forecast and dollar values of global organic rankine cycle market. The global organic rankine cycle market was valued at over USD 440 million in 2022 and is expected to reach nearly USD 640 million in 2030, with a CAGR of nearly 5% during the forecast period 2023-2030.
Organic Rankine Cycle (ORC) is referred to as a steam cycle in which traditional steam is replaced by hydrocarbons. It utilizes clean energy resources or renewable resources such as solar irradiation, waste heat from industrial processes, geothermal fluid, ocean thermal gradient, and heat from biomass combustion. Organic Rankine Cycle (ORC) system is primarily a closed thermodynamic cycle utilized for power production from low to medium-high temperature heat sources that are ranging from 80 to 400°C and for small-medium applications at any temperature level. ORC is an alternative for clean power generation and brings new opportunities for industries.
Organic Rankine Cycle (ORC) technology is an ideal choice for biomass plants due to its high efficiency, ability, and availability to follow load dependent on fuel supply. Thus, the rising adoption of ORC by biomass plants is driving the growth of the market. Geothermal resources are one of earth’s core renewable sources found at a depth of 6500 Km. Power generation from geothermal brines is the crucial application of all organic rankine cycle installed capacity worldwide. The market expansion is poised to be favored by continuously increasing energy demand coupled with rising awareness of industrial sectors regarding energy efficiency. However, due to significant investments, a very low number of geothermal plants are available. Although organic rankine cycle adoption is growing in different industry verticals, provides lucrative opportunities for market growth.
The Organic Rankine Cycle (ORC) is segmented into North America, Europe, Asia Pacific, and the rest of the world. Europe region has emerged as one of the major regions for the ORC market due to the deployment of large-scale geothermal projects. Additionally, North America is expected to exhibit strong demand for ORC installation during the projected period, due to the growing focus of industry on the development of renewable energy infrastructure. Financial support for clean energy projects and a progressive regulatory environment are expected to aid in renewable energy infrastructure which further support to the growth of the market.
The report on global organic rankine cycle market covers segments such as application. On the basis of application, the sub-markets include biomass, geothermal, waste heat recovery, solar thermal, and others.
The report provides profiles of the companies in the market such as Turboden S.p.A., Enogia SAS, ABB, Exergy International Srl, Triogen, Ormat Technologies Inc., Atlas Copco AB, ORC, General Electric, and Corycos Group.
The report provides deep insights into demand forecasts, market trends, and micro and macro indicators. In addition, this report provides insights into the factors that are driving and restraining the growth in this market. Moreover, The IGR-Growth Matrix analysis given in the report brings an insight into the investment areas that existing or new market players can consider. The report provides insights into the market using analytical tools such as Porter's five forces analysis and DRO analysis of the organic rankine cycle market. Moreover, the study highlights current market trends and provides forecasts from 2023-2030. We also have highlighted future trends in the market that will affect the demand during the forecast period. Moreover, the competitive analysis given in each regional market brings an insight into the market share of the leading players.
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