North America Organic Rankine Cycle (ORC) Market Analysis

North America Organic Rankine Cycle (ORC) Market Analysis

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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.