ORC Waste Heat to Power Market Analysis

Technology Segment Analysis

The organic Rankine cycle (ORC) systems sub-segment, which is part of the technology segment, is anticipated to garner the largest share of 48.6% in the ORC waste heat to power market by the end of 2035. The sub-segment’s upliftment is highly driven by its importance in optimizing energy efficiency by converting low-to-medium renewable sources and temperature waste into electricity. According to official statistics published by NLM in November 2024, regenerative organic Rankine cycle (R-ORC) systems are regarded to be 1.8% to 25.5% more efficient. In addition, these systems readily demonstrate an estimated 7.6% better performance, and at the same time offer an optimistic economic contribution in comparison to regular ORC. Therefore, both ORC and R-ORC systems deliberately play a key role in providing valuable guidance and ensuring sustainable energy production.

Heat Source Segment Analysis

Based on the heat source, the industrial processes segment in the organic rankine cycle (ORC) waste heat to power market is projected to hold the second-largest share during the forecast period. The segment’s growth is highly fueled by robust industries such as cement, steel, petrochemicals, glass, and chemicals, generating massive amounts of low‑grade waste heat, which is ideal for ORC systems. This segment is projected to hold the highest revenue share by 2035, driven by stringent emission regulations and the need for energy efficiency. For example, cement kilns and blast furnaces in steel plants release continuous streams of exhaust gases that can be captured and converted into electricity through ORC technology. The adoption of ORC in industrial processes is further supported by government initiatives promoting decarbonization and circular economy practices, which is positively impacting the segment’s growth.

Application Segment Analysis

By the end of the stipulated timeline, the power generation sub-segment, part of the application segment, is expected to account for the third-largest share in the ORC waste heat to power market. The sub-segment’s development is highly propelled by the ability to convert waste heat into electricity, reducing reliance on fossil fuels and lowering operational costs. This segment is expected to grow steadily through 2035, supported by rising energy demand, decarbonization goals, and government incentives for renewable integration. ORC systems are particularly valuable in distributed generation, where they provide reliable electricity from industrial exhaust streams without additional fuel consumption. For instance, ORC units installed in petrochemical plants or refineries can generate several megawatts of electricity, offsetting grid demand and improving energy security.

Our in-depth analysis of the ORC waste heat to power market includes the following segments: