ORC Industrial Waste Heat to Power Market
ORC Industrial Waste Heat to Power Market Size, Share & Trends Analysis Report, By Product (Steam Rankine Cycle, Organic Rankine Cycle, and Kalina Cycle), By Application (Petroleum Refining, Cement Industry, Heavy Metal Production, Chemical Industry, and Others), Forecast Period (2022-2028) Update Available - Forecast 2024-2030
ORC industrial waste heat to power market is anticipated to grow at a CAGR of 5.1% during the forecast period. One of the key factors that are fueling the market is the rising government norms to decrease emissions. Converting the waste heat into power contributes to more power which ultimately reduces the fuel consumption for the required conventional power production cycle. This leads to a decrease in fuel emissions which has been supported by the government across the globe. For instance, in June 2022, The Central Pollution Control Board (CPCB) reviewed the standards of particulate matter emission for ‘baby’ industrial boilers with a capacity of fewer than 2 tonnes/hour. The emission limit has been reduced to 500 milligrams/cubic meter from 1,200 mg / NM3. In Delhi-NCR, a majority of the boilers in the industrial clusters covering Rajasthan, Haryana, and Uttar Pradesh, are baby boilers, as per a 2020 study by the Delhi-based non-profit Centre for Science and Environment (CSE).
Segmental Outlook
The global ORC industrial waste heat to power market is segmented based on the product, and application. Based on the product, the market is segmented into the steam rankine cycle, organic rankine cycle, and kalina cycle. Based on the application, the market is segmented into the petroleum refining, cement industry, heavy metal production, chemical industry, and others. The above-mentioned segments can be customized as per the requirements. Based on product, the organic rankine cycles segment is anticipated to grow significantly in the market owing to the availability of its technical and economically valuable solution, while, based on application, petroleum refining is anticipated to hold a significant share during the forecast period owing to the high demand for crude oil.
Based on product, the organic rankine cycles segment is anticipated to grow significantly in the market during the forecast period owing to its technical and economically valuable solutions available, providing higher flexibility, performance, and lower capital costs. It is highly used for creating power from low to medium temperature heat sources within a range of temperatures between 75 to 350°C. Such technology permits for exploitation of low-grade heat that would have been wasted. Several strategic initiatives were taken over the past few years by market players to further grow the market during the forecast period. For instance, in February 2020, Turboden signed an agreement for offering the Meadow Lake Tribal Council (MLTC) of Canada an 8000 kW ORC power generation system, which uses the fuel of sawmill residual woody biomass.
Regional Outlook
The global ORC industrial waste heat to power market is further segmented based on geography including North America (the US and Canada), Europe (UK, Italy, Spain, Germany, France, and Others), Asia-Pacific (India, China, Japan, South Korea, and Others), and the Rest of the World (the Middle East & Africa and Latin America). The market can be analyzed for a particular region or country level as per the requirement. Asia-Pacific region is anticipated to hold a significant share of the market owing to the rapidly rising manufacturing industries in the region, while, the North America region is anticipated to grow significantly during the forecast period owing to the rising demand for onsite power generation.
Global ORC Industrial Waste Heat to Power Market Growth, by Region 2022-2028
Asia-Pacific Holds the Major Share in the Global ORC Industrial Waste Heat to Power Market
Asia-Pacific region is anticipated to hold a significant share of the market owing to the rapidly rising manufacturing industries in the region. Most of the major multinational corporations have been planting their manufacturing facilities in the region owing to the high availability of raw materials, and a huge number of consumers, which has also increased the demand for ORC industrial waste heat to power technology. As per the International Monetary Fund (IMF), in 2020, Asia is the biggest continental economy as per both GDP Nominal and PPP around the globe. The Asian economy is comprised of 48 economies, and in 2021, it is expected to be nearly $36.8 trillion in nominal terms. Asia accounted for 39% of the global GDP. In PPP terms, its shares are near 47.5% with $68.7 trillion. Since 2010, Asia is the biggest continental economy after overtaking Europe.
Market Players Outlook
The major companies serving the global ORC industrial waste heat to power market include IHI Corp., Mitsubishi Heavy Industries, Ltd., Turboden S.p.A., Siemens AG, and General Electric Co. The market players are contributing to the market growth by the adoption of various strategies including mergers and acquisitions, collaborations, and new product launches, to stay competitive in the market. For instance, in May 2019, Siemens AG and Organic Rankine Cycle (ORC) technology company, Turboden S.p.A, a subsidiary of Mitsubishi Heavy Industries, introduced Heat ReCycle solution. The solution is a combination of a gas turbine power plant along with ORC technology for converting waste heat into electric power without involving water. The solution is a response to the market challenges that several regions across the globe have been facing.
The Report Covers
- Market value data analysis of 2021 and forecast to 2028.
- Annualized market revenues ($ million) for each market segment.
- Country-wise analysis of major geographical regions.
- Key companies operating in the global ORC industrial waste heat to the power market. Based on the availability of data, information related to new product launches, and relevant news is also available in the report.
- Analysis of business strategies by identifying the key market segments positioned for strong growth in the future.
- Analysis of market-entry and market expansion strategies.
- Competitive strategies by identifying ‘who-stands-where’ in the market.
1. Report Summary
• Current Industry Analysis and Growth Potential Outlook
1.1. Research Methods and Tools
1.2. Market Breakdown
1.2.1. By Segments
1.2.2. By Region
2. Market Overview and Insights
2.1. Scope of the Report
2.2. Analyst Insight & Current Market Trends
2.2.1. Key Findings
2.2.2. Recommendations
2.2.3. Conclusion
3. Competitive Landscape
3.1. Key Company Analysis
3.1.1. IHI Corp.
3.1.1.1. Overview
3.1.1.2. Financial Analysis
3.1.1.3. SWOT Analysis
3.1.1.4. Recent Developments
3.1.2. Turboden S.p.A.
3.1.2.1. Overview
3.1.2.2. Financial Analysis
3.1.2.3. SWOT Analysis
3.1.2.4. Recent Developments
3.1.3. Mitsubishi Heavy Industries Ltd.
3.1.3.1. Overview
3.1.3.2. Financial Analysis
3.1.3.3. SWOT Analysis
3.1.3.4. Recent Developments
3.1.4. Siemens AG
3.1.4.1. Overview
3.1.4.2. Financial Analysis
3.1.4.3. SWOT Analysis
3.1.4.4. Recent Developments
3.1.5. General Electric Co.
3.1.5.1. Overview
3.1.5.2. Financial Analysis
3.1.5.3. SWOT Analysis
3.1.5.4. Recent Developments
3.2. Key Strategy Analysis
4. Market Segmentation
4.1. Global ORC Industrial Waste Heat to Power Market by Product
4.1.1. Steam Rankine Cycle
4.1.2. Organic Rankine Cycle
4.1.3. Kalina Cycle
4.2. Global ORC Industrial Waste Heat to Power Market by Application
4.2.1. Petroleum Refining
4.2.2. Cement Industry
4.2.3. Heavy Metal Production
4.2.4. Chemical Industry
4.2.5. Others (Glass industry)
5. Regional Analysis
5.1. North America
5.1.1. US
5.1.2. Canada
5.2. Europe
5.2.1. UK
5.2.2. Germany
5.2.3. Italy
5.2.4. Spain
5.2.5. France
5.2.6. Rest of Europe
5.3. Asia-Pacific
5.3.1. China
5.3.2. India
5.3.3. Japan
5.3.4. South Korea
5.3.5. Rest of Asia-Pacific
5.4. Rest of the World
6. Company Profiles
6.1. AURA GmbH & Co. KG
6.2. Boustead International Heaters Ltd.
6.3. Climeon AB
6.4. Dürr Aktiengesellschaft
6.5. Kaishan USA
6.6. Strebl Energy Pte Ltd
6.7. TransPacific Energy, Inc.
6.8. TURBODEN S.p.A.
1. GLOBAL ORC INDUSTRIAL WASTE HEAT TO POWER MARKET RESEARCH AND ANALYSIS BY PRODUCT, 2021-2028 ($ MILLION)
2. GLOBAL STEAM RANKINE CYCLE MARKET RESEARCH AND ANALYSIS BY REGION, 2021-2028 ($ MILLION)
3. GLOBAL ORGANIC RANKINE CYCLE MARKET RESEARCH AND ANALYSIS BY REGION, 2021-2028 ($ MILLION)
4. GLOBAL KALINA CYCLE MARKET RESEARCH AND ANALYSIS BY REGION, 2021-2028 ($ MILLION)
5. GLOBAL ORC INDUSTRIAL WASTE HEAT TO POWER MARKET RESEARCH AND ANALYSIS BY APPLICATION, 2021-2028 ($ MILLION)
6. GLOBAL ORC INDUSTRIAL WASTE HEAT TO POWER FOR PETROLEUM REFINING MARKET RESEARCH AND ANALYSIS BY REGION, 2021-2028 ($ MILLION)
7. GLOBAL ORC INDUSTRIAL WASTE HEAT TO POWER FOR CEMENT INDUSTRY MARKET RESEARCH AND ANALYSIS BY REGION, 2021-2028 ($ MILLION)
8. GLOBAL ORC INDUSTRIAL WASTE HEAT TO POWER FOR HEAVY METAL PRODUCTION MARKET RESEARCH AND ANALYSIS BY REGION, 2021-2028 ($ MILLION)
9. GLOBAL ORC INDUSTRIAL WASTE HEAT TO POWER FOR CHEMICAL INDUSTRY MARKET RESEARCH AND ANALYSIS BY REGION, 2021-2028 ($ MILLION)
10. GLOBAL ORC INDUSTRIAL WASTE HEAT TO POWER FOR OTHER APPLICATIONS MARKET RESEARCH AND ANALYSIS BY REGION, 2021-2028 ($ MILLION)
11. GLOBAL ORC INDUSTRIAL WASTE HEAT TO POWER MARKET RESEARCH AND ANALYSIS BY GEOGRAPHY, 2021-2028 ($ MILLION)
12. NORTH AMERICAN ORC INDUSTRIAL WASTE HEAT TO POWER MARKET RESEARCH AND ANALYSIS BY COUNTRY, 2021-2028 ($ MILLION)
13. NORTH AMERICAN ORC INDUSTRIAL WASTE HEAT TO POWER MARKET RESEARCH AND ANALYSIS BY PRODUCT, 2021-2028 ($ MILLION)
14. NORTH AMERICAN ORC INDUSTRIAL WASTE HEAT TO POWER MARKET RESEARCH AND ANALYSIS BY APPLICATION, 2021-2028 ($ MILLION)
15. EUROPEAN ORC INDUSTRIAL WASTE HEAT TO POWER MARKET RESEARCH AND ANALYSIS BY COUNTRY, 2021-2028 ($ MILLION)
16. EUROPEAN ORC INDUSTRIAL WASTE HEAT TO POWER MARKET RESEARCH AND ANALYSIS BY PRODUCT, 2021-2028 ($ MILLION)
17. EUROPEAN ORC INDUSTRIAL WASTE HEAT TO POWER MARKET RESEARCH AND ANALYSIS BY APPLICATION, 2021-2028 ($ MILLION)
18. ASIA-PACIFIC ORC INDUSTRIAL WASTE HEAT TO POWER MARKET RESEARCH AND ANALYSIS BY COUNTRY, 2021-2028 ($ MILLION)
19. ASIA-PACIFIC ORC INDUSTRIAL WASTE HEAT TO POWER MARKET RESEARCH AND ANALYSIS BY PRODUCT, 2021-2028 ($ MILLION)
20. ASIA-PACIFIC ORC INDUSTRIAL WASTE HEAT TO POWER MARKET RESEARCH AND ANALYSIS BY APPLICATION, 2021-2028 ($ MILLION)
21. REST OF THE WORLD ORC INDUSTRIAL WASTE HEAT TO POWER MARKET RESEARCH AND ANALYSIS BY COUNTRY, 2021-2028 ($ MILLION)
22. REST OF THE WORLD ORC INDUSTRIAL WASTE HEAT TO POWER MARKET RESEARCH AND ANALYSIS BY PRODUCT, 2021-2028 ($ MILLION)
23. REST OF THE WORLD ORC INDUSTRIAL WASTE HEAT TO POWER MARKET RESEARCH AND ANALYSIS BY APPLICATION, 2021-2028 ($ MILLION)
1. GLOBAL ORC INDUSTRIAL WASTE HEAT TO POWER MARKET SHARE BY PRODUCT, 2021 VS 2028 (%)
2. GLOBAL STEAM RANKINE CYCLE MARKET SHARE BY GEOGRAPHY, 2021 VS 2028 (%)
3. GLOBAL ORGANIC RANKINE CYCLE MARKET SHARE BY GEOGRAPHY, 2021 VS 2028 (%)
4. GLOBAL KALINA CYCLE MARKET SHARE BY GEOGRAPHY, 2021 VS 2028 (%)
5. GLOBAL ORC INDUSTRIAL WASTE HEAT TO POWER MARKET SHARE BY APPLICATION, 2021 VS 2028 (%)
6. GLOBAL ORC INDUSTRIAL WASTE HEAT TO POWER FOR PETROLEUM REFINING MARKET SHARE BY GEOGRAPHY, 2021 VS 2028 (%)
7. GLOBAL ORC INDUSTRIAL WASTE HEAT TO POWER FOR CEMENT INDUSTRY MARKET SHARE BY GEOGRAPHY, 2021 VS 2028 (%)
8. GLOBAL ORC INDUSTRIAL WASTE HEAT TO POWER FOR HEAVY METAL PRODUCTION MARKET SHARE BY GEOGRAPHY, 2021 VS 2028 (%)
9. GLOBAL ORC INDUSTRIAL WASTE HEAT TO POWER FOR CHEMICAL INDUSTRY MARKET SHARE BY GEOGRAPHY, 2021 VS 2028 (%)
10. GLOBAL ORC INDUSTRIAL WASTE HEAT TO POWER FOR OTHER APPLICATIONS MARKET SHARE BY GEOGRAPHY, 2021 VS 2028 (%)
11. GLOBAL ORC INDUSTRIAL WASTE HEAT TO POWER MARKET SHARE BY GEOGRAPHY, 2021 VS 2028 (%)
12. US ORC INDUSTRIAL WASTE HEAT TO POWER MARKET SIZE, 2021-2028 ($ MILLION)
13. CANADA ORC INDUSTRIAL WASTE HEAT TO POWER MARKET SIZE, 2021-2028 ($ MILLION)
14. UK ORC INDUSTRIAL WASTE HEAT TO POWER MARKET SIZE, 2021-2028 ($ MILLION)
15. FRANCE ORC INDUSTRIAL WASTE HEAT TO POWER MARKET SIZE, 2021-2028 ($ MILLION)
16. GERMANY ORC INDUSTRIAL WASTE HEAT TO POWER MARKET SIZE, 2021-2028 ($ MILLION)
17. ITALY ORC INDUSTRIAL WASTE HEAT TO POWER MARKET SIZE, 2021-2028 ($ MILLION)
18. SPAIN ORC INDUSTRIAL WASTE HEAT TO POWER MARKET SIZE, 2021-2028 ($ MILLION)
19. REST OF EUROPE ORC INDUSTRIAL WASTE HEAT TO POWER MARKET SIZE, 2021-2028 ($ MILLION)
20. INDIA ORC INDUSTRIAL WASTE HEAT TO POWER MARKET SIZE, 2021-2028 ($ MILLION)
21. CHINA ORC INDUSTRIAL WASTE HEAT TO POWER MARKET SIZE, 2021-2028 ($ MILLION)
22. JAPAN ORC INDUSTRIAL WASTE HEAT TO POWER MARKET SIZE, 2021-2028 ($ MILLION)
23. SOUTH KOREA ORC INDUSTRIAL WASTE HEAT TO POWER MARKET SIZE, 2021-2028 ($ MILLION)
24. REST OF ASIA-PACIFIC ORC INDUSTRIAL WASTE HEAT TO POWER MARKET SIZE, 2021-2028 ($ MILLION)
25. REST OF THE WORLD ORC INDUSTRIAL WASTE HEAT TO POWER MARKET SIZE, 2021-2028 ($ MILLION)
