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Organic Rankine Cycle (ORC) Market Share

Report ID: GMI5434
Published Date: Feb 2023
Report Format: PDF

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Organic Rankine Cycle Market Share

Major companies operating in the global organic rankine cycle market are

General Electric
Ormat Technologies
Mitsubishi Heavy Industries
Exergy International Srl.
Alfa Laval
Kaishan USA
Turboden S.p.a
Enorgia
Calnetix Technologies, LLC
Triogen
ABB
INTEC GMK
Atlas Copco AB
ORCHAN ENERGY AG
Enertime
Elvosolar, a.s.

are some of the key players involved in the ORC market. These firms primarily focus on enhancing ORC technology and collaborate with energy firms to stay ahead in the competitive landscape.

For instance, in February 2021, Turboden, an ORC system provider, and Siemens Energy, an energy development firm, refurbished a proficient gas station at GASCO in Dahshur, Egypt. In this project, a 28 MWe Natural Rankine Cycle framework was combined with Electrical Motor Driven Trains working in island mode to build the Dahshur station with a pressure limit of 25% with practically no extra fuel utilization. The company aims to improve the efficiency and effectiveness of the power station.

Authors: Ankit Gupta, Vinayak Shukla

Frequently Asked Questions (FAQ) :

The ORC market size crossed USD 13.5 billion in 2022 and is primed to grow at over 15% CAGR through 2032 driven by government regulations aimed at lowering GHG emissions.

The geothermal application segment is foreseen to clock more than 46.5% of the market share through 2032 owing to the significant use of ORC systems due to the growing demand for large-scale geothermal facilities.

The < 1 MWe ORC segment accounted for more than 23% of the overall market share in 2022 as they do not form any additional emissions while generating power compared to their high megawatt electrical output counterparts.

The North America market held an installed capacity of nearly 1.4 GW in 2022 as a result of national renewable energy goals combined with redundancy for the expansion of conventional electrical networks in the region.