Report ID: UCMIG10F2010
Report ID:
UCMIG10F2010 |
Region:
Global |
Published Date: Upcoming |
Pages:
165
| Tables: 55 | Figures: 60
The global organic rankine cycle market was worth USD 415.1 million in 2021 and is predicted to grow at a compound annual growth rate (CAGR) of 3.3% from 2022 to 2030. The growing popularity of renewable energy, the long life cycle of the Organic Rankine Cycle (ORC), and relatively low operation and maintenance cost are some of the primary factors contributing to its expansion. However, ORC technology faces competition from other similar technologies such as the Steam Rankine Cycle (SRC), which is also utilized in geothermal, biomass, waste heat recovery, and solar thermal applications. This is expected to hinder the growth of the ORC market during the forecast period.
This report is being written to illustrate the market opportunity by region and by segments, indicating opportunity areas for the vendors to tap upon. To estimate the opportunity, it was very important to understand the current market scenario and the way it will grow in future.
Production and consumption patterns are being carefully compared to forecast the market. Other factors considered to forecast the market are the growth of the adjacent market, revenue growth of the key market vendors, scenario-based analysis, and market segment growth.
The market size was determined by estimating the market through a top-down and bottom-up approach, which was further validated with industry interviews. Considering the nature of the market we derived the Oil & Gas Storage & Transportation by segment aggregation, the contribution of the Oil & Gas Storage & Transportation in Energy Fuel and vendor share.
To determine the growth of the market factors such as drivers, trends, restraints, and opportunities were identified, and the impact of these factors was analyzed to determine the market growth. To understand the market growth in detail, we have analyzed the year-on-year growth of the market. Also, historic growth rates were compared to determine growth patterns.
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Report ID: UCMIG10F2010