Global Organic Rankine Cycle Market to reach 807.67 million USD by 2027.Global Organic Rankine Cycle Market to reach 807.67 million USD by 2027.

Global Organic Rankine Cycle Market is valued approximately USD 211.5 million in 2020 and is anticipated to grow with a healthy growth rate of more than 20.3% over the forecast period 2021-2027. Organic Rankine Cycle is a technology that allows low-grade heat to be used in power production. Organic Rankine Cycle produces more vapor in comparison to water as it uses organic fluid which contains a lower boiling point. As a result, Organic Rankine Cycle technology produces a similar amount of power with comparatively less temperature and provides a long life run to equipment. These factors support the growth of the ORC market. However, ORC technology comes up against alternative technology such as the steam Rankine Cycle (SRC), which is used in similar application areas such as geothermal, biomass, and waste heat recovery. SRC technology is adaptable to a wider temperature range, including low, medium, and high temperatures, and it costs less USD/kW than ORC which impedes the growth of the market over the forecast period of 2021-2027. Also, to encourage the adoption of energy efficient methods, major governments are launching awareness and support initiatives in the form of financial incentives. As a result, the industrial sector has been tasked with identifying viable solutions to improve energy efficiency in both the current and future scenarios. As a result, the industrial sector has begun to re-use waste heat in order to improve energy efficiency, which has contributed to the increased adoption of ORC technology and is likely to increase the market growth during the forecast period.

The regional analysis of global Organic Rankine Cycle Market is considered for the key regions such as Asia Pacific, North America, Europe, Latin America and Rest of the World. Asia Pacific is the leading region across the world in terms of market share owing to the construction of two large-scale ORC-based geothermal plants, one in Indonesia and the other in New Zealand. Whereas Europe is also anticipated to exhibit highest growth rate over the forecast period 2021-2027. Factors such as executing favorable policies and supporting mechanism for the expansion of renewable energy and energy efficiency projects across the globe would create lucrative growth prospects for the Organic Rankine Cycle Market across Asia-Pacific region.

Major market player included in this report are:
Turboden (Mitsubishi Heavy Industries)
Againity
DeVeTec GmbH
Enertime
Durr
Baker Hughes (GE)
Enogia
ABB
EXERGY
Orcan Energy

The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:
By Product Type:

Biomass Boilers/Gasifiers
Waste Heat Sources
Geothermal
Solar pools

By Application:

Combined Cycle Power Plant (CCPP)
Waste Heat Recycling


By Region:
North America
U.S.
Canada
Europe
UK
Germany
France
Spain
Italy
ROE

Asia Pacific
China
India
Japan
Australia
South Korea
RoAPAC
Latin America
Brazil
Mexico
Rest of the World

Furthermore, years considered for the study are as follows:

Historical year - 2018, 2019
Base year - 2020
Forecast period - 2021 to 2027

Target Audience of the Global Organic Rankine Cycle Market in Market Study:

Key Consulting Companies & Advisors
Large, medium-sized, and small enterprises
Venture capitalists
Value-Added Resellers (VARs)
Third-party knowledge providers
Investment bankers
Investors