Geothermal ORC Market Share

North American Market Forecast

North American geothermal ORC market is poised to hold a share of 35% during the foreseen period. The use of geothermal energy for power generation is becoming more and more popular.  For instance, the United States has the largest number of operating geothermal power plants in the world (3,692 MW) as of 2021, and development has been expanding at a pace of 3% annually. Due to their efficiency in exploiting low-temperature geothermal resources, ORC systems are becoming a preferred choice. More attention is being paid to renewable energy sources such as geothermal, which is driving the adoption of ORC systems, as sustainability gains momentum. The efficiency and reliability of the ORC is enhanced by continued advances in its technology. The ability of ORC systems to adapt to different geothermal conditions has been enhanced by the evolution of materials and system designs, which have improved their feasibility and applicability.

European Market Statistics

Geothermal ORC market in Europe is projected to hold a share of 28% by the end of 2036. The major growth drivers for the market in this region are measures taken by the European Union to generate electricity from waste and increasing public awareness of waste heat recovery schemes. In addition, the German waste heat recovery industry accounted for the largest share of the European region and the United Kingdom's waste heat recovery industry has been the fastest growing in Europe.