Asia Pacific ORC Waste Heat to Power Market Analysis

Asia Pacific ORC Waste Heat to Power Market Analysis

The ≤ 1 MWe, market across Asia Pacific region is projected to reach over USD 2 billion by 2032. This segment benefits from the great dependability, adaptability, and efficiency of ORC systems, driving their widespread adoption in installations with smaller capacities. Moreover, manufacturers collaborate closely with end-users to tailor ORC units to their specific needs, ensuring both reliability and economic feasibility.
 

In addition, their compact size makes them suitable for installations where space is limited, allowing for flexibility in deployment across various industries and applications. Furthermore, the modular nature of small capacity ORC systems enables easy scalability, facilitating incremental expansion or customization based on evolving energy needs.
 

The > 1 - 5 MWe segment across Asia Pacific ORC Waste Heat to Power Market is projected to achieve a CAGR of over 12.5% by 2032, owing to their versatility and seamless integration into various industrial settings. This widespread adoption is significantly enhancing their penetration within a wide range of industries. Additionally, the emission-free electricity generated by ORC systems is further driving their uptake across industrial sectors, aligning with sustainability goals and environmental regulations. Moreover, these systems can employ various heat sources including geothermal, biomass, waste heat from industrial processes, and solar thermal energy. This versatility enables industries to make more efficient use of available resources, reducing waste and optimizing energy usage.
 

The ORC waste heat to power market in China is projected to exceed USD 2.5 billion by 2032. China's strategic focus on renewable energy sources, aiming to diminish coal dependency and tackle air pollution, underscores the adoption of ORC systems for power generation from geothermal, biomass, and waste heat sources, aligning with the nation's renewable energy objectives. For instance, in 2022, as per IRENA, China witnessed a substantial increase in its renewable energy capacity, reaching nearly 1.2 terawatts in 2022, reflecting a growth rate of approximately 14% compared to the previous year, which in turn is anticipated to create a favorable growth scenario for the ORC technology across China in the coming years.