Organic Rankine Cycle Market Updates

Skyquest Technology's expert advisors continuously track and analyze the latest developments and updates related to organic rankine cycle market. Our team of analysts stay abreast of all the recent news stories shaping the industry including new product launches by major companies, strategic partnerships, M&As, Patent filings and industry and regulatory developments.

Organic Rankine Cycle Market News

in Organic Rankine Cycle Market
  • In March 2024, Turboden commissioned a 10 MW organic rankine cycle system for a biomass power plant in Finland. This project enhances Finland’s renewable energy infrastructure by converting wood waste into electricity and heat. By reducing reliance on fossil fuels, it supports the country’s carbon neutrality goals and promotes sustainable energy transition.
  • In July 2024, Ormat Technologies secured a contract to supply a 20 MW organic rankine cycle system for a geothermal project in Indonesia. This initiative utilizes Indonesia’s vast geothermal resources, delivering clean electricity to the grid. The project contributes to the country’s renewable energy expansion, supporting emissions reduction and long-term energy security goals.
  • In November 2024, Exergy introduced an advanced AI-driven organic rankine cycle system for waste heat recovery. This innovation optimizes efficiency, reliability, and energy output by leveraging real-time data analysis and predictive maintenance. By improving operational performance, this smart organic rankine cycle solution helps industries maximize energy savings and reduce their overall carbon footprint.
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Global Organic Rankine Cycle Market size was valued at USD 15.08 Billion in 2023 poised to grow from USD 16.12 Billion in 2024 to USD 27.42 Billion by 2032, growing at a CAGR of 6.87% in the forecast period (2025-2032).

The global organic rankine cycle market is highly competitive, with key players focusing on technological advancements, strategic partnerships, and market expansion. Leading companies include Turboden (Italy), Ormat Technologies (U.S.), Exergy (Italy), Kaishan Group (China), and Enertime (France). Turboden invests in AI-driven organic rankine cycle optimization, while Ormat Technologies expands its geothermal organic rankine cycle projects globally. Exergy focuses on modular organic rankine cycle solutions, enhancing flexibility in waste heat recovery applications. 'Turboden (Italy)', 'Ormat Technologies (USA)', 'Exergy (Italy)', 'Kaishan Group (China)', 'Enertime (France)', 'Calnetix Technologies (USA)', 'Bosch KWK Systeme (Germany)', 'Againity AB (Sweden)', 'Electratherm (USA)', 'INTEC GMK (Germany)', 'Zuccato Energia (Italy)', 'Infinity Turbine (USA)', 'TAS Energy (USA)', 'GMK Energy (South Korea)', 'GEFFCO (Canada)'

The increasing focus on industrial energy efficiency is driving the adoption of organic rankine cycle technology. Industries such as steel, cement, and oil & gas generate significant waste heat, which organic rankine cycle systems convert into usable power. Government incentives and carbon reduction policies further accelerate organic rankine cycle deployment in industrial waste heat recovery applications.

Rising Adoption of ORC in Waste Heat Recovery: Industries are increasingly integrating organic rankine cycle systems for waste heat recovery to improve energy efficiency and sustainability. Sectors like steel, cement, and oil & gas are leveraging organic rankine cycle technology to convert low-grade heat into power, driven by stringent environmental regulations and decarbonization initiatives.

How is Advanced Renewable Energy Adoption Fueling ORC Expansion in Europe?

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Global Organic Rankine Cycle Market
Organic Rankine Cycle Market

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