North America Organic Rankine Cycle (ORC) Market Size - By Power Output (≤ 1 MWe, > 1 - 5 MWe, > 5 - 10 MWe, > 10 MWe), Application (Waste Heat Recovery, Biomass, Geothermal, Solar Thermal, Oil & Gas, Waste to Energy) & Forecast, 2023 – 2032

North America Organic Rankine Cycle (ORC) Market Size

North America Organic Rankine Cycle Market size was valued at USD 3.8 billion in 2022 and is projected to grow at a CAGR of 14.8% between 2023 and 2032. In recent years, there has been a notable shift towards harnessing reliable medium and low-temperature heat sources for power generation. This includes sources like biomass, geothermal energy, and solar power. Organic Rankine Cycle (ORC) systems have emerged as a popular choice for electricity production by capturing heat generated from processes like biomass combustion and geothermal energy extraction.
 

The Organic Rankine Cycle (ORC) is a thermodynamic process that converts heat into mechanical work and, ultimately, into electricity. The increasing adoption of renewable energy sources aligns with favorable legislative conditions, which in turn promotes the widespread deployment of these ORC systems. Furthermore, various financial incentives such as subsidies, feed-in-tariffs, and tax benefits are playing a pivotal role in driving the adoption of renewable energy for electricity generation. These incentives create a conducive environment for businesses in the renewable energy sector, further enhancing the prospects of this industry.
 

Furthermore, ORC technology is gaining increasing prominence across various applications, including biomass, waste-to-heat conversion, geothermal energy, and oil & gas, primarily due to its inherent advantages in terms of long operational life. Several key factors are positively influencing the organic rankine cycle market's growth trajectory, including reduced mechanical stress, a lower number of operational stages, heightened flexibility, and enhanced turbine efficiency.
 

Organic Rankine Cycle (ORC) technology is currently in the development stage and requires numerous environmental clearances, which can be more extensive compared to Supercritical Rankine Cycle (SRC). The presence of several alternatives, including SRC and Kalina technology, which offer higher efficiency and lower costs, has cast a shadow over ORC technology.
 

Additionally, the adoption of SRC technology is more prevalent due to the availability of low-cost working fluids and its reputation for safe and secure operations when compared to ORC systems. However, regulatory bodies have been consistently introducing reforms and initiatives to reduce greenhouse gas (GHG) emissions. Combined with positive consumer trends favoring cleaner technologies, these factors are expected to reshape the organic rankine cycle market landscape.
 

COVID-19 Impact

The global economy faced a severe blow due to the unexpected outbreak of the novel coronavirus, also known as COVID-19. This virus, which was initially identified in China's Hubei province in December 2019, quickly escalated into a worldwide health crisis. According to the World Health Organization (WHO), COVID-19 has affected 140 countries, leading to extensive national and international lockdowns. As a result, major economies across North America, Europe, the Middle East, and Asia Pacific have been significantly impacted, with numerous commercial and industrial establishments and facilities experiencing ongoing disruptions.
 

The pandemic had a notable adverse effect on the overall organic rankine cycle market demand of various industries, resulting in a substantial decline in the installation of large-scale projects. However, developed economies are now actively working to counterbalance the recent impacts of COVID-19 by expediting the development of industrial infrastructure throughout their regions. The persistent demand for electricity to support sustainable industrial operations will play a pivotal role in driving the business landscape forward. Furthermore, considering the ongoing research and development efforts aimed at creating vaccines or medications to control the spread of the disease, there is a positive outlook for increased market demand in the near future.
 

North America Organic Rankine Cycle (ORC) Market Trends

Sustained economic growth and the rapid industrialization witnessed in significant nations are set to be primary drivers of the market. The implementation of stringent emissions regulations aimed at reducing CO2 emissions, coupled with the increasing deployment of biomass and geothermal units, will further enhance the industry's potential in the foreseeable future.
 

Moreover, ORC technology is gaining significant traction across a range of applications, including biomass, waste-to-heat conversion, geothermal energy, and oil & gas, primarily due to its inherent advantages in terms of long operational lifespan. Several key factors are exerting a positive influence on the North America organic rankine cycle market size, including reduced mechanical stress, a lower number of operational stages, heightened flexibility, and enhanced turbine efficiency.
 

ORC-based systems are rapidly gaining recognition, particularly in energy-intensive industries, owing to their ability to reduce carbon emissions and align with clean energy objectives. Notably, these systems find extensive application in key sectors such as geothermal, biomass, and heat recovery. The increasing investments directed towards the establishment of new industrial facilities, coupled with the growing imperative for energy optimization and management within process industries, will serve as catalysts for the increased adoption of ORC-based systems in the coming years.
 

North America Organic Rankine Cycle (ORC) Market Analysis

The North America organic rankine cycle market from > 1 - 5 MWe segment held more than USD 2 billion revenue in 2022. Organic rankine cycle (ORC) technology has traditionally been favored for lower-capacity applications. However, in recent years, it has gained significant traction in higher-capacity scenarios due to its superior energy efficiency when compared to alternative technologies. Presently, ORC systems with capacities exceeding 1-5 MWe are capturing the largest market share.
 

This preference for >1–5 MWe capacities is primarily attributed to their widespread deployment across various industries, including oil & gas, waste-to-energy, and waste heat-to-power applications. These systems can be seamlessly integrated into industrial facilities, making them increasingly popular. Furthermore, one of the key advantages of ORC systems is that the electricity they generate does not contribute to additional emissions, which serves as an additional incentive for their adoption across these industries.
 

The North America ORC market from biomass application is set to expand at a CAGR of over 15.4% through 2032. The ORC technology is widely deployed across geothermal, biomass, and waste heat applications. The increasing deployment of large scale geothermal plants is substantially surging the adoption of these systems. Biomass currently accounts for approximately 14% of the global primary energy demand. What sets biomass apart from other renewable sources like solar and wind is its immunity to fluctuating weather conditions.
 

This inherent stability positions biomass as a reliable and consistent source of clean power generation, making it a promising contributor to the global energy landscape. In numerous developing nations, there is a substantial demand for Organic Rankine Cycle (ORC) systems within biomass plants. This demand is driven by the increasing need for energy-efficient technologies that can enhance power generation while aligning with sustainability goals.
 

U.S. organic rankine cycle market accounted for 87.7% of revenue share in 2022. Industries across the U.S. were increasingly looking into ways to recover and utilize waste heat generated in their processes. ORC systems were being applied to capture and convert this waste heat into electricity, improving energy efficiency and reducing emissions. The U.S. was experiencing significant growth in renewable energy sources, including biomass, geothermal, and solar power. ORC technology was gaining attention as a means to efficiently harness energy from these sources, contributing to the growth of the ORC market.
 

Stricter environmental regulations and emissions reduction targets were encouraging the adoption of cleaner and more efficient technologies, including ORC systems. These systems produce electricity without additional emissions, making them an attractive choice. The U.S. has substantial geothermal energy resources, and ORC technology was being employed to tap into these resources more effectively. The government's support for geothermal development and the expansion of geothermal power plants were driving the adoption of ORC systems. Energy efficiency remained a top priority for many industries and institutions in the U.S. ORC systems, with their ability to convert low-grade heat into electricity, were seen as a valuable tool for improving overall energy efficiency.
 

North America Organic Rankine Cycle (ORC) Market Share

Some of the major companies operating across the North America organic rankine cycle (ORC) market are

• General Electric
• Mitsubishi Heavy Industries, Ltd.
• Turboden S.p.A
• Calnetix Technologies LLC
• Kaishan USA
• ABB
• Atlas Copco AB
• ORCAN ENERGY AG
• Enertime
• Ormat Technologies
• ALFA LAVAL
• Exergy International Srl

These companies focus on new product launch & commercialization and strategic partnerships for market expansion. Furthermore, these companies are increasingly investing in research & development activities, which enable them to introduce innovative products and garner maximum revenue in the market.
 

North America Organic Rankine Cycle (ORC) Industry News:

• In September 2022, Mitsubishi Heavy Industries developed a binary power generation system based on ORC technology. This system recovers waste heat from sulfur-free fuel-burning engines and converts it into usable energy. The lineup includes three models with a rated output ranging from 200 kW to 700 KW, which is suitable for powering various vessel types. This advanced waste heat recovery system features high thermal efficiency and is fully sealed, oil- & maintenance-free.
   
• In April 2022, Alfa Laval launched E-Powerpack, which uses Organic Rankine Cycle (ORC) technology to convert waste heat into electrical power. The advanced product is suitable for the marine sector to improve a vessel’s Carbon Intensity Indicator (CII) and Energy Efficiency Index (EEDI). It also removes a huge amount of CO2 (in tonnes) annually, significantly reducing fuel costs.
   

This North America organic rankine cycle (ORC) market research report includes an in-depth coverage of the industry with estimates & forecast in terms of volume & revenue in MW & USD Million from 2019 to 2032, for the following segments:

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Market, By Phase

• ≤ 1 MWe
• > 1 - 5 MWe
• > 5 - 10 MWe
• > 10 MWe

Market, By Application

• Waste Heat Recovery
• Biomass
• Geothermal
• Solar Thermal
• Oil & Gas
• Waste to Energy

The above information has been provided for the following countries:

• U.S.
• Canada
• Mexico