Global ORC Waste Heat to Power Market

Global ORC Waste Heat to Power Market Size, Share, Growth Analysis, By Model(Steady-state and Dynamic), By Application(Petroleum Refining, Cement Industry), By Products(Steam Rankine Cycle, Organic Rankine Cycle), By Power Output(≤ 1 MWe, > 1 - 5 MWe) - Industry Forecast 2024-2031

Report ID: SQMIG25AH2014 | Region: Global | Published Date: February, 2024
Pages: 157 | Tables: 121 | Figures: 73

Global ORC Waste Heat to Power Market Dynamics

Drivers

Rise in the Reduction of Usage of Primary Energy in Industrial Operations

  • Waste heat to power stands out as a highly viable renewable energy source for electricity generation. This method is recognized for its exceptional efficiency in power production, primarily achieved by curbing the consumption of energy and fuels within industrial processes. By harnessing waste heat, it is possible to produce emission-free electricity, which can be seamlessly integrated into regular industrial operations or supplied to the grid for broader distribution.

Restraints

Increasing Access to Innovative Alternative Technologies

  • The emergence of diverse technologies such as SRC and Kalina has indeed cast a shadow on the ORC technology, potentially hindering its growth within the waste heat to power industry due to their enhanced efficiency and reduced costs. However, the distinctive factor lies in the fluid composition: the Kalina cycle employs a blend of ammonia and water as its working fluid, whereas ORC relies on pure organic fluids.
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FAQs

Global ORC Waste Heat to Power Market size was valued at USD 5 billion in 2022 and is poised to grow from USD 5.78 billion in 2023 to USD 18.29 billion by 2031, growing at a CAGR of 15.5% in the forecast period (2024- 2031).

The competitive environment of the global ORC waste heat to power market is dynamic and characterized by the presence of a mix of well-established brands, emerging players, and niche producers. Innovation is a key competitive factor. To understand the competitive rivalry, we are comparing the revenue, expenses, resources, product portfolio, region coverage, market share, key initiatives, product launches, and any news related to the market. 'General Electric', 'Mitsubishi Heavy Industries, Ltd.', 'Exergy International Srl', 'Turboden S.p.A', 'Calnetix Technologies, LLC', 'Kaishan USA', 'ENOGIA', 'ABB', 'Atlas Copco North America LLC.', 'ELVOSOLAR a.s.', 'INTEC GMK GmbH', 'KAISHAN GROUP CO., LTD.', 'Orcan Energy AG', 'Ormat Technologies Inc.', 'SUMEC GeoPower AG', 'Triogen NL'

Waste heat to power stands out as a highly viable renewable energy source for electricity generation. This method is recognized for its exceptional efficiency in power production, primarily achieved by curbing the consumption of energy and fuels within industrial processes. By harnessing waste heat, it is possible to produce emission-free electricity, which can be seamlessly integrated into regular industrial operations or supplied to the grid for broader distribution.

The world's electricity generation remains heavily reliant on fossil fuel resources, including coal, natural gas, and oil. This dependence is evident through the proliferation of fossil-fired power generation plants worldwide, marking a notable global trend. Nevertheless, these power plants inherently generate waste heat as part of their operation, and the release of such heat into the environment is a prevailing concern.

North America ORC waste heat to power market is poised for significant expansion in the forecast period, primarily driven by the increasing need for onsite power generation and a favorable perspective on industrial sector growth. The region is experiencing a notable influx of investments directed at the advancement of diverse clean energy systems, such as geothermal, biomass, and various solar-powered technologies.

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