Home > Energy & Power > Electrical Equipment > Organic Rankine Cycle (ORC) > Geothermal ORC Market

Geothermal ORC Market Trends

Report ID: GMI7465
Published Date: Nov 2023
Report Format: PDF

Download Free Sample

Geothermal ORC Market Trends

Geothermal ORC Market Size, 2021 - 2032 (USD Billion)

In recent years, there's been a noticeable industry shift towards utilizing dependable medium and low-temperature heat sources like biomass, geothermal energy, and solar power for generating power. Organic Rankine Cycle (ORC) systems are widely used to produce electricity by capturing heat from biomass combustion and geothermal sources. This increased adoption of renewable energy sources, supported by favorable legislation, is expected to encourage broader use of ORC systems. Stricter emission regulations targeting CO2 reduction, along with the rising deployment of biomass and geothermal power units, will further boost the industry's potential.

Authors: Ankit Gupta, Vinayak Shukla

Frequently Asked Questions (FAQ) :

The market valuation of geothermal ORC was worth USD 6.4 billion in 2022 and is estimated to expand at 13.5% CAGR from 2023 to 2032, attributed to the continuing governmental efforts to cut CO2 emissions and the increased funding for implementing several technologies.

Geothermal ORC market from the > 10 MWe segment power output segment generated more than USD 85.2 million in 2022 and is projected to witness high demand through 2032, due to their efficiency and cost-effectiveness in converting thermal energy into mechanical or electrical power.

North America geothermal ORC industry accounted for more than over 30.6% of the revenue share in 2022 and is estimated to exhibit robust growth through 2032, driven by the rising interest in leveraging geothermal energy for power generation.

General Electric, Mitsubishi Heavy Industries, Ltd., Exergy International Srl, Turboden S.p.A, Calnetix Technologies, LLC, ENOGIA, Triogen, ABB, Atlas Copco AB, INTEC GMK, ORCAN ENERGY AG, and Ormat Technologies.