ORC Waste Heat to Power Market is growing due to rising energy efficiency needs, stricter emissions rules, and focus on sustainable power from industrial waste heat worldwide.

According to the TechSci Research report titled “ORC Waste Heat to Power Market – Global Industry Size, Share, Trends, Competition Forecast & Opportunities, 2030F,” the global Organic Rankine Cycle (ORC) Waste Heat to Power Market was valued at USD 24.81 billion in 2024 and is projected to reach USD 51.21 billion by 2030, growing at a CAGR of 12.67% during the forecast period. The market's impressive growth trajectory is fueled by the increasing global emphasis on energy efficiency, sustainability, and low-emission technologies across industrial sectors.

Rising Demand for Sustainable Power Generation

A key factor driving the ORC Waste Heat to Power Market is the growing need for energy-efficient and environmentally sustainable power solutions. As industries and governments worldwide face mounting pressure to cut carbon emissions and reduce energy consumption, waste heat recovery has emerged as a crucial strategy. The ORC system effectively converts low- to medium-temperature waste heat—commonly released in industrial processes—into usable electrical power, helping companies optimize energy utilization without additional fuel input or emissions.

Industries such as manufacturing, steel production, cement, oil & gas, and chemical processing generate vast amounts of waste heat. Historically, much of this thermal energy has gone unused, representing a missed opportunity for improving operational efficiency. ORC technology enables industries to recover this latent energy, enhancing overall productivity and significantly lowering greenhouse gas emissions.

Economic Incentives and Regulatory Support

Rising global energy prices and increasingly stringent environmental regulations are pushing industries to adopt more energy-responsible practices. ORC systems offer a cost-effective way to reduce energy costs while simultaneously lowering environmental impact. These systems support companies in achieving both regulatory compliance and sustainability goals, creating long-term economic value.

Governments across major economies are supporting the adoption of waste heat recovery systems through incentives such as tax credits, subsidies, and grant programs. These policies further accelerate market growth by reducing the initial capital investment needed for ORC deployment. In addition, the global shift toward renewable energy sources has increased the demand for technologies that can complement wind, solar, and geothermal energy generation. ORC systems fill this gap by capturing and converting residual thermal energy from various processes into additional power, enhancing the reliability of renewable power solutions.

Technological Advancements Fueling Market Penetration

Technological innovation is playing a pivotal role in enhancing the performance and applicability of ORC systems. Advancements in working fluids, heat exchangers, and system design have led to the development of more compact, efficient, and reliable ORC units. Modular designs allow for easier integration into existing industrial infrastructures, while improvements in component materials have enhanced corrosion resistance and durability, ensuring longer equipment lifespans.

Furthermore, the ability of ORC systems to operate efficiently at lower temperatures compared to conventional steam Rankine cycles broadens their applicability across sectors where traditional systems are not feasible. This versatility allows ORC technology to penetrate new markets and support sustainable energy generation in a variety of settings, from remote industrial sites to urban processing plants.

Steam Rankine Cycle Segment Leads Market by Product

Among the product segments, the Steam Rankine Cycle (SRC) held the largest market share in 2024. The dominance of this segment can be attributed to its maturity, efficiency, and adaptability across a broad range of applications. The SRC is widely recognized for its technological reliability and ability to generate electricity from waste heat in processes involving power generation, chemical manufacturing, and metal production.

The SRC’s established infrastructure, coupled with advancements in steam turbine design, improved heat exchange mechanisms, and advanced control systems, has reinforced its position in the market. Industries favor SRC systems for their scalability and seamless integration into existing production lines. Moreover, the rising cost of fossil fuels and electricity has enhanced the economic feasibility of SRC-based heat recovery, offering companies a pathway to both environmental responsibility and cost savings.

Regulatory pressures and financial incentives further support the segment’s growth. As countries implement policies to cap carbon emissions, SRC technology provides a viable means for industrial operators to comply with environmental standards while maintaining operational efficiency.

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Asia Pacific Emerges as a Rapidly Growing Market

Regionally, the Asia Pacific market is witnessing the fastest growth in the ORC Waste Heat to Power sector. Rapid industrialization, growing energy demand, and heightened environmental awareness are driving the adoption of waste heat recovery technologies in countries such as China, India, and Japan.

Governments in the region are actively encouraging clean energy technologies through favorable policies, tax incentives, and subsidies. These supportive measures are enabling industries to invest in ORC systems that enhance energy efficiency and reduce operational costs. In addition, Asia Pacific’s strong manufacturing base—especially in sectors like cement, steel, and petrochemicals—offers a vast landscape for ORC system deployment.

The increasing collaboration between industrial manufacturers and renewable energy developers is also catalyzing the growth of geothermal power generation projects using ORC technology. Countries in Southeast Asia, in particular, are becoming key markets for ORC-based geothermal applications, driven by abundant geothermal resources and government-backed green energy initiatives.

Outlook and Future Opportunities

The ORC Waste Heat to Power Market is poised for significant expansion over the next several years. The convergence of energy efficiency mandates, climate change policies, and technological innovations is expected to sustain long-term demand for ORC systems globally. Moreover, the trend toward digitalization and Industry 4.0 is enhancing ORC system performance through smart monitoring, predictive maintenance, and data-driven optimization.

As more industries shift toward circular economy models that emphasize resource recovery and waste reduction, ORC technology will continue to play a central role in enabling sustainable industrial growth. The market outlook remains highly positive, with expanding applications, increased regulatory support, and growing awareness about the benefits of waste heat recovery.

Major companies operating in the Global ORC Waste Heat to Power Market are:

Ormat Technologies, Inc.
Mitsubishi Heavy Industries Group
General Electric Company
Exergy S.p.A.
ElectraTherm, Inc.
Tennessee Valley Authority (TVA)
Siemens AG
Enogia SAS
Sundyne, LLC
Kalex Valves Pvt. Ltd.

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“The Global ORC Waste Heat to Power Market is expected to rise in the upcoming years and register a significant CAGR during the forecast period. The ORC Waste Heat to Power market is poised for robust growth, propelled by escalating industrial mandates for energy efficiency and increasingly stringent environmental regulations on a global scale. The accelerating shift towards renewable energy sources and the imperative to lower carbon footprints drive widespread adoption of waste heat recovery solutions. Key industries, including manufacturing, oil & gas, and automotive, present expanding application opportunities. Continuous technological advancements enhancing ORC system performance and cost-efficiency further strengthen market potential.

Moreover, supportive government policies and increased funding for sustainable energy initiatives are creating conducive conditions for accelerated market penetration, particularly within emerging economies prioritizing green energy transitions. Therefore, the Market of ORC Waste Heat to Power is expected to boost in the upcoming years.,” said Mr. Karan Chechi, Research Director of TechSci Research, a research-based management consulting firm.

“ORC Waste Heat to Power Market - Global Industry Size, Share, Trends, Opportunity, and Forecast, Segmented, By Size (Small, Medium), By Application (Petroleum Refining, Cement Industry, Heavy Metal Production, Chemical Industry), By Product (Steam Rankine Cycle, Organic Rankine Cycle, Kalina Cycle), By Capacity (Less Than 1000 KW, 1001-4000 KW), By Region, By Competition, 2020-2030F”, has evaluated the future growth potential of Global ORC Waste Heat to Power Market and provides statistics & information on the Market size, structure, and future Market growth. The report intends to provide cutting-edge Market intelligence and help decision-makers make sound investment decisions., The report also identifies and analyzes the emerging trends along with essential drivers, challenges, and opportunities in the Global ORC Waste Heat to Power Market.

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