Summary

Organic Rankine Cycle Market Growth & Trends

The global organic rankine cycle market size is expected to reach USD 926.3 million by 2028, according to a new report by Grand View Research, Inc. The market is expected to expand at a CAGR of 20.3% from 2020 to 2028. The rise in the adoption of renewable energy in countries, such as the U.S., China, Germany, and Canada, is leading to the emergence of supportive regulations and provision of financial incentives for the deployment of renewable energy. Financial incentives such as feed-in-tariff, subsidies, and tax benefits are some of the major tools utilized by countries around the world to attract investment in the renewable energy sector. These factors are expected to propel the growth of the organic rankine cycle (ORC) market in the near future.

The supply chains of spare parts for ORC systems are majorly affected due to the shutdown of production facilities of the manufacturers. The manufacturing of most components in the energy and power sector is slowing down considerably. In addition, local and international travel restrictions, quarantine requirements, and lockdowns have caused delays in the shipment of already manufactured parts to be supplied to the distributors and end users. ORC manufacturers usually have access to an adequate supply of critical parts, devices, components, and materials for emergencies. But these companies are facing bottlenecks due to the limited production of supplies in countries severely affected by COVID-19.

The geothermal application segment led the market in 2020. This can be attributed to the large-scale megawatt capacity of these geothermal projects as compared to other application segments, such as biomass, waste heat recovery, and solar thermal. Each of the geothermal projects is usually of the capacity of more than 10 MW, whereas ORC-based projects in other application segments are not always of capacities equivalent to 10 MW and are generally less than 1 to 2 MW.

The ORC market is a concentrated market where major companies such as Ormat, Turboden, and Exergy accounted for more than 75.0% share in the market in 2020. These companies apart from equipment supply are also focusing on providing EPC and long-term maintenance services to enhance their market share further. This factor is expected to help these companies maintain their lead in the market in the forecast period.

Organic Rankine Cycle Market Report Highlights

• By application, the geothermal segment held the largest revenue share in 2020. Geothermal projects are usually of higher capacity as compared to biomass and waste heat recovery projects. The growth of the segment is also attributed to the deployment of large-scale geothermal projects in recent years

• In 2020, Europe accounted for the largest revenue share of over 45.0%. The European region has been one of the front runners in implementing favorable policies and support mechanisms for the growth of renewable energy and energy efficiency projects across the globe. This has resulted in making Europe a dominant regional market

• Various strategic initiatives were recorded over the past few years to boost the growth of the market. For instance, in February 2020, Turboden signed a contract to provide the Meadow Lake Tribal Council (MLTC), Canada with an 8000 kW ORC power generation system, which uses sawmill residual woody biomass as a fuel

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Table of Contents

Table of Contents

Chapter 1 Methodology & Scope
1.1 Organic Rankine Cycle Market Segmentation
1.2 Organic Rankine Cycle Market Definitions
1.3 Assumptions
1.4 Information Procurement
1.4.1 Purchased Database
1.4.2 GVR’s Internal Database
1.4.3 Secondary Sources
1.4.4 Third Party Perspective
1.4.5 Primary Research
1.5 Information Analysis
1.5.1 Data Analysis Models
1.6 Market Formulation and Data Visualization
1.7 Data Validation and Publishing
Chapter 2 Executive Summary
2.1 Market Outlook
2.2 Segmental Outlook
2.3 Competitive Insights
Chapter 3 Market Variables, Trends & Scope
3.1 Penetration & Growth Prospect Mapping
3.2 Industry Value Chain Analysis
3.2.1 Raw material trends
3.2.2 Major Raw material Analysis
3.2.2.1 Steel
3.2.2.2 Organic Fluid
3.2.3 Manufacturing Trends
3.2.4 Sales Channel Analysis
3.3 Technology Overview
3.3.1. Turbine
3.3.2. Heat Exchangers
3.3.3. Condenser
3.3.4. Feed Pump
3.4 Regulatory Framework
3.4.1 Policies and Regulations by Countries
3.4.2 Standard & Compliances
3.4.3 Safety
3.5 Market Dynamics
3.5.1 Market Driver Analysis
3.5.1.1 Rise in adoption of renewable energy
3.5.1.2 Longer lifecycle coupled with lower O&M cost
3.5.2 Market Restraint Analysis
3.5.2.1 Presence of substitutes
3.5.3 Opportunity Assessment
3.5.4 Industry Challenges
3.6 Business Environment Analysis: ORC Market
3.6.1 Industry Analysis - Porter’s
3.6.2 PESTEL analysis
3.7 Major Projects Brief
3.7.1 Case study-1
3.7.1.1 Customer brief:
3.7.1.2 Need:
3.7.1.3 Solution:
3.7.2 Case study-2
3.7.2.1 Customer brief:
3.7.2.2 Need:
3.7.2.3 Solution:
3.7.3 Case study-3
3.7.3.1 Customer brief:
3.7.3.2 Need:
3.7.3.3 Solution:
3.7.4 Case study-4
3.7.4.1 Customer brief:
3.7.4.2 Need:
3.7.4.3 Solution:
3.7.5 Case study-5
3.7.5.1 Customer brief:
3.7.5.2 Need:
3.7.5.3 Solution:
3.8 Impact of Corona Virus on ORC Market
3.8.1 Challenges
3.8.2 Impact Verdict - Medium
Chapter 4 Global Organic Rankine Cycle Market: Application Estimates & Trend Analysis
4.1 Global Organic Rankine Cycle Market: Application Movement Analysis, 2020 & 2028
4.2 Waste Heat Recovery
4.2.1 Global orc market estimates and forecasts in waste heat recovery, 2017 - 2028 (USD Million)
4.3 Biomass
4.3.1 Global Orc market estimates and forecasts in biomass, 2017 - 2028 (USD Million)
4.4 Geothermal
4.4.1 Global orc market estimates and forecasts in geothermal applications, 2017 - 2028 (USD Million)
4.5 Solar Thermal
Chapter 5 Global Organic Rankine Cycle Market: Regional Estimates & Trend Analysis
5.1 Global Organic Rankine Cycle Market: Regional Movement Analysis, 2020 & 2028
5.2 North America
5.2.1 North America orc market estimates and forecasts, by application 2017 - 2028 (USD Million)
5.2.2 U.S.
5.2.2.1 U.S. ORC market estimates and forecasts, by application 2017 - 2028 (USD Million)
5.2.3 Canada
5.2.3.1 Canada ORC market estimates and forecasts, by application 2017 - 2028 (USD Million)
5.3 Europe
5.3.1 Europe ORC market estimates and forecasts, by application, 2017 - 2028 (USD Million)
5.3.2 Germany
5.3.2.1 Germany ORC market estimates and forecasts, by application 2017 - 2028 (USD Million)
5.3.3 Turkey
5.3.3.1 Turkey ORC market estimates and forecasts, by application 2017 - 2028 (USD Million)
5.3.4 Italy
5.3.4.1 Italy ORC market estimates and forecasts, by application 2017 - 2028 (USD Million)
5.4 Asia Pacific
5.4.1 Asia Pacific ORC market estimates and forecasts, by application, 2017 - 2028 (USD Million)
5.4.2 China
5.4.2.1 China ORC market estimates and forecasts, by application 2017 - 2028 (USD Million)
5.4.3 Japan
5.4.3.1 Japan ORC market estimates and forecasts, by application 2017 - 2028 (USD Million)
5.4.4 Thailand
5.4.4.1 Thailand ORC market estimates and forecasts, by application 2017 - 2028 (USD Million)
5.5 Central & South America
5.5.1 Central & South America ORC market estimates and forecasts, by application, 2017 - 2028 (USD Million)
5.6 Middle East & Africa
5.6.1 Middle East & Africa ORC market estimates and forecasts, by application, 2017 - 2028 (USD Million)
Chapter 6 Competitive Landscape
6.1 Key Global Players, Recent Market Developments & Their Impact on the Industry
6.1.1 Turboden S.p.A.
6.1.2 Ormat
6.1.3 Orcan Energy AG
6.1.4 Exergy S.p.A.
6.2 Vendor Landscape
6.2.1 List of Key Distributors and Channel Partners
6.2.2 Company Market Position Analysis
Chapter 7 Company Profiles
7.1 Turboden S.p.A
7.1.1 Company Overview
7.1.2 Product Benchmarking
7.1.3 Strategic Initiatives
7.2 Exergy S.p.A.
7.2.1 Company Overview
7.2.2 Product Benchmarking
7.2.3 Strategic Initiatives
7.3 Zhejiang Kaishan Compressor Co., Ltd.
7.3.1 Company Overview
7.3.2 Product Benchmarking
7.3.3 Strategic Initiatives
7.4 Ormat
7.4.1 Company Overview
7.4.2 Product Benchmarking
7.4.3 Financial Performance
7.4.4 Strategic Initiatives
7.5 TAS
7.5.1 Company Overview
7.5.2 Product Benchmarking
7.6 Elvosolar, a.s.
7.6.1 Company Overview
7.6.2 Product Benchmarking
7.7 General Electric
7.7.1 Company Overview
7.7.2 Product Benchmarking
7.7.3 Financial Performance
7.7.4 Strategic Initiatives
7.8 INTEC GMK
7.8.1 Company Overview
7.8.2 Product Benchmarking
7.9 Enogia SAS
7.9.1 Company Overview
7.9.2 Product Benchmarking
7.9.3 Strategic Initiatives
7.10 Triogen
7.10.1 Company Overview
7.10.2 Product Benchmarking
7.10.3 Strategic Initiatives
7.11 Calnetix Technologies, LLC
7.11.1 Company Overview
7.11.2 Product Benchmarking
7.11.3 Strategic Initiatives
7.12 ABB
7.12.1 Company Overview
7.12.2 Product Benchmarking
7.12.3 Financial Performance
7.13 SUMEC GEOPOWER AG
7.13.1 Company Overview
7.13.2 Service Benchmarking
7.13.3 Strategic Initiatives
7.14 Atlas Copco AB
7.14.1 Company overview
7.14.2 Financial Performance
7.14.3 Product Benchmarking
7.15 ORCAN ENERGY AG
7.15.1 Company overview
7.15.2 Product Benchmarking
7.15.3 Strategic Initiatives