Organic Rankine Cycle Market

Organic Rankine Cycle Market Size and Share:

The global organic rankine cycle market size was valued at USD 486.12 Million in 2024. Looking forward, IMARC Group estimates the market to reach USD 635.60 Million by 2033, exhibiting a CAGR of 3.02% from 2025-2033. North America currently dominates the market, holding a market share of 48% in 2024. The market is driven by rising demand for sustainable and efficient energy solutions, increasing focus on waste heat recovery, and supportive government policies promoting renewable energy adoption. Growing industrialization and stricter emission regulations are pushing industries to adopt ORC technology for reducing carbon footprints. Additionally, advancements in ORC systems, declining costs of renewable technologies, and the rising need for decentralized power generation further accelerate organic rankine cycle market share thus making it a key solution for clean energy and improved energy efficiency.

One of the major drivers of the organic rankine cycle market is the growing need for waste heat recovery across energy-intensive industries such as cement, steel, chemical, and manufacturing. Globally, industrial waste heat is estimated at 7,000–8,000 TWh per year, representing a vast pool of untapped energy that can be effectively converted into electricity through ORC technology. This process not only improves energy efficiency but also reduces overall operational costs, supporting industries under pressure to minimize wastage and enhance sustainability. With rising awareness of resource optimization and the economic benefits of waste heat utilization, ORC systems are witnessing strong worldwide adoption.

The U.S. contributes a substantial percentage to the ORC market of 83%, owing to its robust industrial sector, strong energy infrastructure, and emphasis on green power generation. The nation boasts enormous potential for geothermal and biomass resources and hence is a leading adopter of ORC systems. Further, stringent environmental policies and regulations favoring carbon reduction are compelling industries to implement waste heat recovery applications. As the demand for decentralized power increases along with energy efficiency, ORC technology is being increasingly adopted in manufacturing, oil & gas, and power industries. Ongoing investments in research and innovation continue to drive U.S. organic rankine cycle market growth further.

Organic Rankine Cycle Market Trends:

Growing Focus on Waste Heat Recovery

One of the primary drivers of the ORC market is increasing focus on waste heat recovery across energy-intensive sectors like oil & gas, cement, steel, and chemicals. Such industries produce huge quantities of waste heat, which ends up getting dissipated into the atmosphere, resulting in inefficiencies. ORC technology enables the use of this low- to medium-temperature waste heat to generate electricity, enhancing total energy efficiency and reducing fuel consumption. As growing pressure to cut operational expenses and increase sustainability is being experienced, industries are turning to ORC systems to maximize energy efficiency. Moreover, the combination of ORC with combined heat and power (CHP) systems increases productivity as well as green benefits. This emerging realization of the economic and environmental benefits of energy recovery is playing a crucial role in ORC uptake, particularly as industries across the globe encounter tighter regulations on emissions and energy use.

Rising Demand for Decentralized and Reliable Power Generation

Another significant organic rankine cycle market trend is the rising demand for decentralized, reliable, and clean power solutions. In 2023, off-grid renewable energy systems were serving 155 million people globally in remote and last-mile communities through mini-grids and standalone systems, highlighting the growing importance of distributed generation. ORC systems play a vital role in this transition by generating electricity from local renewable resources such as geothermal and biomass, reducing dependence on fossil fuels and centralized power plants. This decentralized model not only strengthens energy security but also minimizes transmission losses. As industries and commercial facilities seek greater independence from unstable grids, ORC technology provides a dependable option for on-site power generation. Coupled with rapid urbanization and rising electricity demand, this shift toward localized, sustainable power is significantly accelerating ORC market growth worldwide.

Supportive Government Policies and Renewable Energy Push

Clean energy and efficiency policies by the government contribute significantly to supporting the organic rankine cycle market demand. Governments across the world are enacting policy, regulation, subsidy, and tax incentives to inspire industries to utilize renewable technology and curb greenhouse gas emissions. ORC technology is well suited to this, as it allows for the power generation from renewable energy resources like geothermal, biomass, and solar thermal, as well as industrial waste heat. International efforts such as the Paris Agreement and carbon neutrality goals are also driving industries and utilities towards more sustainable options. Governments are additionally investing in research and development initiatives for improving ORC technologies to make them more cost-efficient and effective. These enabling policies not only cut costs of adoption but also make a positive environment for innovation, resulting in sustained growth of the ORC market in multiple applications and geographic locations.

Organic Rankine Cycle Industry Segmentation:

IMARC Group provides an analysis of the key trends in each segment of the global organic rankine cycle market, along with forecast at the global, regional, and country levels from 2025-2033. The market has been categorized based on type and application.

Analysis by Type:

• 500KW
• 1MW
• 5MW
• 10MW
• 15MW
• 30MW
• Others

500kW units account for the 40% of the market share in the ORC market because they are versatile, affordable, and applicable to a broad scope of applications. Mid-capacity units are best suited for geothermal plants of small to medium size, biomass power generation, and waste heat recovery from industry, where more powerful units would be uneconomic. Smaller units are easier to install, operate, and maintain, making them suitable for decentralized power and on-site power generation. Moreover, they find a balance between cost-effectiveness and efficiency, making it possible for commercial sites and industries to reduce emissions while saving energy. As the demand for flexible and renewable solutions continues to increase, the 500kW capacity segment remains the most popular in the ORC market.

Analysis by Application:

• Waste Heat Recovery
  • Petroleum Refinery
  • Chemical
  • Glass
  • Cement
• Biomass
• Geothermal
• Solar Thermal
• Oil and Gas (Gas Pipeline Pressure Stations)
• Waste to Energy

Geothermal accounts for 20% of ORC market shares due to its potential to deliver stable, base-load renewable electricity with limited environmental effect. ORC technology is specifically best for low- and medium-grade geothermal resources that are widespread in most parts of the world. Geothermal power supplies flat output compared to solar or wind, hence extremely reliable for on-demand electricity production. Increasing worldwide initiatives to diversify energy sources and lower carbon emissions further intensify geothermal adoption. Government-friendly incentives, improved drilling techniques, and decreasing costs of geothermal projects are also contributing to investment in this segment. All these in combination make geothermal the top application sector for ORC technology in the world's energy shift.

Regional Analysis:

• North America
  • United States
  • Canada
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Australia
  • Indonesia
  • Others
• Europe
  • Germany
  • France
  • United Kingdom
  • Italy
  • Spain
  • Russia
  • Others
• Latin America
  • Brazil
  • Mexico
  • Others
• Middle East and Africa

North America is the leading region in the ORC market with a market share of 48% owing to its strong focus on renewable energy adoption, advanced industrial base, and supportive regulatory framework. The region has significant potential for geothermal, biomass, and waste heat recovery applications, which align well with ORC technology. Strict emission reduction policies and incentives for clean energy projects further accelerate deployment. Additionally, the presence of large-scale industries generating considerable waste heat creates opportunities for energy-efficient solutions. Continuous investments in research, technological innovation, and infrastructure development also contribute to regional dominance. With growing emphasis on sustainability and energy security, North America remains at the forefront of ORC adoption across diverse applications.

Key Regional Takeaways:

United States Organic Rankine Cycle Market Analysis

The United States ORC market is experiencing robust growth, driven by increasing deployment of waste heat recovery systems across the manufacturing, oil and gas, and power generation sectors. The rising focus on decarbonization and improving energy efficiency is accelerating the integration of ORC systems in industrial operations. Notably, the U.S. Energy Information Administration (EIA) highlights that in its Low Zero-Carbon Technology Cost case, electricity-generating technologies with zero emissions could experience cost reductions of up to 40% compared to the Reference case by 2050. This scenario reflects growing economies of scale and technological improvements that will likely benefit ORC systems as well. The emergence of modular ORC units suited for decentralized energy generation is widening the scope of applications. Furthermore, the growing deployment of combined heat and power (CHP) systems in district heating networks supports ORC technology as a sustainable alternative. Advanced R&D investments in high-performance working fluids and compact designs are contributing to improved conversion efficiencies. As regulatory frameworks continue to prioritize energy recovery from thermal processes, the U.S. ORC market is poised for consistent expansion, supported by innovation in system integration and increasing energy intensity of key industries.

Europe Organic Rankine Cycle Market Analysis

The Europe organic Rankine cycle (ORC) market is advancing steadily due to the region’s commitment to achieving climate neutrality and expanding its renewable energy portfolio. According to the International Energy Agency (IEA), clean energy investment in the European Union is projected to reach nearly USD 390 Million in 2025, underscoring the EU’s strengthened dedication to sustainable power solutions. This influx of capital is accelerating the adoption of ORC systems, particularly in biomass and geothermal applications. The integration of ORC technology into district energy schemes is gaining momentum as local governments seek sustainable heating and power alternatives. The demand is further supported by retrofitting initiatives in older industrial facilities looking to maximize energy recovery. As the circular economy concept gains traction, the focus on energy recovery from residual heat and industrial byproducts is strengthening. In addition, the region’s emphasis on lifecycle energy optimization is promoting the use of ORC systems in waste-to-energy operations.

Asia Pacific Organic Rankine Cycle Market Analysis

In the Asia Pacific region, the organic Rankine cycle (ORC) market is gaining pace amid increasing electrification demands and rising environmental consciousness. Rapid industrialization, especially in emerging economies, is contributing to higher energy consumption, creating a favorable setting for ORC adoption to improve overall energy efficiency. Also, growing shift towards clean energy is further driving the market. As reported, 34% of Asia’s electricity was generated from clean sources in 2024, reflecting an accelerating shift toward low-emission energy systems, creating greater alignment for ORC integration with geothermal and biomass solutions. The growing prevalence of distributed energy systems and the need for reliable off-grid solutions are prompting interest in ORC installations. Rising investments in low-temperature renewable sources are also supporting market growth. Additionally, the region is witnessing increased deployment of ORC units in rural electrification projects and industrial parks seeking low-carbon energy systems. The market is benefiting from government-led initiatives that support sustainable infrastructure development and cleaner production technologies.

Latin America Organic Rankine Cycle Market Analysis

The Latin America organic Rankine cycle (ORC) market is expanding steadily, driven by a growing emphasis on improving energy self-sufficiency and reducing dependence on conventional fuels. ORC technology is gaining traction, particularly in agricultural and industrial sectors, where thermal waste is abundant. According to a recent report, Brazilian agrifoodtech funding reached USD 76.8 Million in Q1 2025, marking a 32% quarter-over-quarter and 85% year-over-year increase, positioning Brazil to capture 55% of all Latin American agtech funding in 2024. This surge in sustainable innovation across agribusiness ecosystems further boosts demand for decentralized energy systems such as ORC units. Regional efforts to enhance rural electrification and the interest in integrating small-scale renewable energy projects are further boosting ORC uptake. Technological adaptability and scalability of ORC systems make them well-suited for decentralized energy solutions across remote and underserved regions. The favorable alignment of ORC technology with local energy transition strategies is creating new opportunities in both public and private sectors.

Middle East and Africa Organic Rankine Cycle Market Analysis

The ORC market in the Middle East and Africa is witnessing gradual growth, driven by the rising demand for sustainable energy recovery in high-temperature industrial environments. Increased focus on harnessing thermal resources from desalination and refining activities is creating unique deployment opportunities for ORC technology. As reported, refining crude intake saw a 12% monthly increase in March 2025, surpassing the 10-year average for the same period by 23%. This economic momentum supports greater ORC integration, especially in energy-intensive processes. Additionally, interest in hybrid renewable systems, particularly in off-grid or grid-constrained locations, is facilitating ORC adoption. As environmental policies evolve to promote clean energy solutions, ORC is gaining attention for its ability to convert waste heat into usable power without water-intensive cooling.

Competitive Landscape:

The market dynamics in the ORC industry are dominated by a combination of veteran companies and upstart innovators competing to maximize efficiency, minimize costs, and broaden application space. Firms are placing greater emphasis on technology developments like modular ORC units, better working fluids, and digital monitoring tools in order to stay competitive. Strategic alliances, mergers, and collaborations are typical, since companies seek to establish a stronger presence in the global market and penetrate new markets. Competition is further fueled by having the capacity to serve different industries such as geothermal, biomass, industrial waste heat, and oil & gas. Sustainability trends as well as strict emission regulations are also compelling market players to develop greener solutions. With increasing investment in R&D and government support, the market continues to be vibrant, driving innovation and boosting competition among players.

The report provides a comprehensive analysis of the competitive landscape in the organic rankine cycle market with detailed profiles of all major companies, including:

• Access Energy LLC (Calnetix Inc.)
• Againity AB
• Elvosolar a.s.
• Enogia
• Exergy International Srl (Nanjing TICA ENERGY Technology Co., Ltd.)
• Kaishan Compressor USA
• Orcan Energy AG
• Siemens Energy AG
• Triogen
• Turboden S.p.A.

Latest News and Developments:

• September 2025: Baker Hughes, a global energy technology company, announced that it has received an award from Fervo Energy Company, a leader in advanced geothermal energy solutions, for geothermal equipment supply and design for five Organic Rankine Cycle (ORC) power plants in Fervo’s Cape Station power generation project near Milford, Utah. The Cape Phase II ORC plants, once operational, are projected to generate 300 megawatts of stable, clean, and affordable electricity, enough to power approximately 180,000 homes.
• September 2025: Researchers at Rice University developed a system that turns waste heat from data centers into clean power. By using solar thermal-boosted Organic Rankine Cycle (ORC) technology, they efficiently convert low-temperature waste heat into electricity, offering an economically viable solution to reduce energy loss in data centers.
• September 2025: Severn Wye Biochar won £600k in ‘Redress’ funding to trial the production of cheap, carbon-negative electricity using two highly efficient Organic Rankine Cycle (ORC) generators. The trial, at their Warrington plant, aims to provide low-cost, clean electricity to social homes and businesses, marking a first in both the UK and EU. The process uses pyrolysis, producing electricity that is carbon negative due to the way biochar is made.

Organic Rankine Cycle Market Report Scope:

Key Benefits for Stakeholders:

• IMARC’s report offers a comprehensive quantitative analysis of various market segments, historical and current market trends, market forecasts, and dynamics of the organic rankine cycle market from 2019-2033.
• The research study provides the latest information on the market drivers, challenges, and opportunities in the global organic rankine cycle market.
• The study maps the leading, as well as the fastest-growing, regional markets. It further enables stakeholders to identify the key country-level markets within each region.
• Porter's five forces analysis assist stakeholders in assessing the impact of new entrants, competitive rivalry, supplier power, buyer power, and the threat of substitution. It helps stakeholders to analyze the level of competition within the organic rankine cycle industry and its attractiveness.
• Competitive landscape allows stakeholders to understand their competitive environment and provides an insight into the current positions of key players in the market.