Organic Rankine Cycle (ORC) Waste Heat to Power Market is Likely to Upsurge at a CAGR of 8.6% by 2029, Size, Share, Trends, Demand, Growth Opportunities and Competitors Analysis
MONTREAL, Feb. 16, 2023 /PRNewswire/ -- Data Bridge Market Research has recently published a Report, titled, "Organic Rankine Cycle (ORC) Waste Heat to Power Market" The report offers an extensive analysis of key growth strategies, drivers, opportunities, key segment, Porter's Five Forces analysis, and competitive landscape. The top-notch Organic Rankine Cycle (ORC) Waste Heat to Power market research report provides estimations about the growth rate and the market value based on market dynamics and growth-inducing factors. While preparing this market analysis report, a few of the attributes that have been adopted include the highest level of spirit, practical solutions, committed research and analysis, innovation, integrated approaches, and the most up-to-date technology. The report offers a wide-ranging statistical analysis of the market's continuous developments, capacity, production, production value, cost/profit, supply/demand, and import/export. The winning Organic Rankine Cycle (ORC) Waste Heat to Power market report also assesses the growth rate and the market value based on market dynamics and growth-inducing factors.
Data Bridge Market Research analyses that the global organic rankine cycle (ORC) waste heat to power market is expected to reach the value of USD 3,637,069.31 Thousand by 2029, at a CAGR of 8.6% during the forecast period. The organic rankine cycle (ORC) waste heat to power market report also comprehensively covers pricing analysis, patent analysis, and technological advancements.
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Organic rankine cycle (ORC) systems are used for power production from low to medium-temperature heat sources at 80 to 350 °C and for small-medium applications at any temperature. This technology allows for the exploitation of low-grade heat that otherwise would be wasted. The working principle of an organic rankine cycle power plant is similar to the most widely used process for power generation, the clausius-rankine cycle.
The main difference is using organic substances instead of water (steam) as a working fluid. The organic working fluid has a lower boiling point and a higher vapor pressure than water and is, therefore, able to use low-temperature heat sources to produce electricity. The organic fluid is chosen to best fit the heat source according to their differing thermodynamic properties, thus obtaining higher efficiencies of both cycle and expander.
The role of organic rankine cycle (ORC) waste heat to power convert the thermal heat of liquids or gases to produce carbon-neutral power efficiently. Heat is generated from geothermal sources or industrial or commercial waste heat. The organic rankine cycle (ORC) waste heat to power help companies to produce more electricity to meet the increasing demand. The rising adoption of organic rankine cycle (ORC) technology reduces fuel used for power generation, and various large-scale companies use these technologies to generate power from waste heat recovery.
Recent Development
- In September 2020, BorgWarner Inc. entered into a partnership with Plug and Play. The main objective behind this strategic partnership was to enhance inventive ideas in the automotive and tech sector to boost the sector's capabilities to new heights. Through this company expanded its automotive and tech sector market.
- In December 2018, Corycos Group partnered with Clean Energy Technologies, Inc. The partnership aimed to develop an innovative organic rankine cycle (ORC) heat recovery generator for the biogas industry. Through this partnership, both companies strengthen their market and regional presence.
Some of the major players operating in the Organic Rankine Cycle (ORC) Waste Heat to Power market are:
- MITSUBISHI HEAVY INDUSTRIES, LTD
- Kaishan USA
- Strebl Energy Pte Ltd
- ORCAN ENERGY AG
- ALFA LAVAL
- Fujian Snowman Co., Ltd
- Ormat, Rank
- TMEIC
- Triogen
- ABB
- Siemens Energy (Siemens AG)
- Dürr Group
- ElectraTherm Inc. (BITZER Group)
- Enerbasque, Enertime
- Enogia
- EXERGY
- CLIMEON
- INTEC Engineering GmbH
- Zuccato Energia srl
- Opel Energy Systems Pvt. Ltd
- Corycos Group
- CTMI - Steam Turbines
- BorgWarner Inc
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Opportunities:
- Rapid industrialization and climate change concerns
Industrialization is a process of adopting an economy based on manufacturing. This step involves many changes that help the society's economy grow and prosper. Industrialization does not seem to have a sudden change, but it takes a gradual change that happens over a period. Thus, indirectly there will be a large number of fossil fuels, which in turn generate the climate.
The cause of climate change has been a serious issue that has been changing with the rapid increase in industrialization. However, industrialization is the route to economic development, but climate change is one of the major concerns that must be controlled. This will lead to adopting sustainable and efficient technologies in the industrial process, including the WHP system. The adoption of such technologies with the increase in industrialization along with the climate change concerns will help to protect the environment.
The report provides insights on the following pointers:
Market Penetration: Comprehensive information on the product portfolios of the top players in the Organic Rankine Cycle (ORC) Waste Heat to Power market
Product Development/Innovation: Detailed insights on upcoming technologies, R&D activities, and product launches in the market
Competitive Assessment: In-depth assessment of the market strategies, and geographic and business segments of the leading players in the market
Market Development: Comprehensive information about emerging markets.This report analyzes the market for various segments across geographies
Market Diversification: Exhaustive information about new products, untapped geographies, recent developments, and investments in the Organic Rankine Cycle (ORC) Waste Heat to Power Market
Market Drivers: Organic Rankine Cycle (ORC) Waste Heat to Power Market
- Upsurge in the reduction of usage of primary energy in industrial operations
Waste heat to power is one of the adoptable renewable sources to generate electricity. This technique is found to be the most efficient resource to generate power as it helps to reduce the usage of energy or fuels for industrial processes, and the waste heat generated is used to generate emission-free electricity, which is further used in the normal industrial process or sold to the grid for distribution.
The waste heat generated is considered a by-product in most industries, such as steel paper manufacturing, refineries, chemical, and general manufacturing, as the waste heat is produced in industrial operations. Thus, the energy or the cost involved in running the main industrial operation will also generate waste heat that can be dumped into the environment.
- Increased focus on improving the power plant efficiency
The world's electricity generation is majorly dependent on the fossil fuel resources such as coal, natural gas, and oil. The number of installed fossil-fired power generation plants has increased globally, and the development of such power plants is trending across the globe. However, waste heat is discharged in a power plant and can be dumped in the environment. How recovering the waste heat is the main approach to improve thermal efficiencies further and reduce greenhouse gas emissions for fossil-fired power plants.
Moreover, it is found that adopting technologies to recover waste heat is gaining importance to improve power plant efficiency. Thus, a waste heat ORC system is applied based on a closed loop thermodynamic cycle for generating electricity and thermal power, which is suitable for plant operations. This system has been found to support various power plant functions such as economizer, heat pump, rotary heat exchanger, regenerator, and many others. This will support the functioning of the power plant and improves its efficiency.
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Key Industry Segmentation: Organic Rankine Cycle (ORC) Waste Heat to Power Market
By Size
- Small
- Medium
- Large
By Capacity
- Less Than 1000 kW
- 1001-4000 kW
- 4001-7000 kW
- More than 7000 kW
By Model
- Steady-State
- Dynamic
By Application
- ICE or Gas Turbine
- Waste to Energy
- Metal Production
- Cement and Lime Industry
- Glass Industry
- Petroleum Refining
- Chemical Industry
- Landfill ICE
- Others
Regional Analysis/Insights: Organic Rankine Cycle (ORC) Waste Heat to Power Market
The countries covered in the organic rankine cycle (ORC) waste heat to power market report are the U.S., Canada, and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Poland, Denmark, Finland, Sweden, Norway, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Taiwan, New Zealand, Vietnam, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, South Africa, Egypt, Israel, Qatar, Kuwait, Bahrain, Oman, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America
North America dominates the organic rankine cycle (ORC) waste heat to power market owing to the rise in the importance of generating power from waste heat recovery. The U.S. is a dominating country as it is home to many giant market players in the organic rankine cycle (ORC) waste heat to the power market. Germany dominates in the Europe region owing to an upsurge in the reduction of usage of primary energy in industrial operations. China dominates in Asia-Pacific due to government incentives to promote green energy changes.
The country section of the report also provides individual market-impacting factors and changes in market regulation that impact the current and future trends of the market. Data points like downstream and upstream value chain analysis, technical trends, and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, the impact of domestic tariffs, and trade routes are considered while providing forecast analysis of the country data.
Table of Contents:
- Introduction
- Market Segmentation
- Executive Summary
- Premium Insights
- Global Organic Rankine Cycle (ORC) Waste Heat to Power Market: Regulations
- Market Overview
- Global Organic Rankine Cycle (ORC) Waste Heat to Power Market, By Size
- Global Organic Rankine Cycle (ORC) Waste Heat to Power Market, By Capacity
- Global Organic Rankine Cycle (ORC) Waste Heat to Power Market, By Model
- Global Organic Rankine Cycle (ORC) Waste Heat to Power Market, By Application
- Global Organic Rankine Cycle (ORC) Waste Heat to Power Market, By Region
- Global Organic Rankine Cycle (ORC) Waste Heat to Power Market: Company Landscape
- SWOT Analyses
- Company Profile
- Questionnaires
- Related Reports
To Check the Complete Table of contents, click here @ https://www.databridgemarketresearch.com/toc/?dbmr=global-organic-rankine-cycle-orc-waste-heat-to-power-market
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Europe Organic Rankine Cycle (ORC) Waste Heat to Power Market, By Size (Small, Medium, Large), Capacity (Less Than 1000 kW, 1001-4000 kW, 4001-7000 kW, More than 7000 kW), Model (Steady-State, Dynamic), Application (ICE or Gas Turbine, Waste to Energy, Metal Production, Cement and Lime Industry, Glass Industry, Petroleum Refining, Chemical Industry, Landfill ICE, Others), – Industry Trends and Forecast to 2029 https://www.databridgemarketresearch.com/reports/europe-organic-rankine-cycle-orc-waste-heat-to-power-market
Middle East and Africa Organic Rankine Cycle (ORC) Waste Heat to Power Market, By Size (Small, Medium, Large), Capacity (Less Than 1000 kW, 1001-4000 kW, 4001-7000 kW, More than 7000 kW), Model (Steady-State, Dynamic), Application (ICE or Gas Turbine, Waste to Energy, Metal Production, Cement and Lime Industry, Glass Industry, Petroleum Refining, Chemical Industry, Landfill ICE, Others) – Industry Trends and Forecast to 2029 https://www.databridgemarketresearch.com/reports/middle-east-and-africa-organic-rankine-cycle-orc-waste-heat-to-power-market
Asia-Pacific Organic Rankine Cycle (ORC) Waste Heat to Power Market, By Size (Small, Medium, Large), Capacity (Less Than 1000 kW, 1001-4000 kW, 4001-7000 kW, More than 7000 kW), Model (Steady-State, Dynamic), Application (ICE or Gas Turbine, Waste to Energy, Metal Production, Cement and Lime Industry, Glass Industry, Petroleum Refining, Chemical Industry, Landfill ICE, Others), – Industry Trends and Forecast to 2029 https://www.databridgemarketresearch.com/reports/asia-pacific-organic-rankine-cycle-orc-waste-heat-to-power-market
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