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Asia Pacific ORC Waste Heat to Power Market Trends

Report ID: GMI8972
Published Date: Apr 2024
Report Format: PDF

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Asia Pacific ORC Waste Heat to Power Market Trends

The increasing emphasis on energy efficiency and resource conservation in industries along with ongoing advancements in ORC technology, including improvements in heat exchanger efficiency, turbine design, and system optimization, has bolstered the expansion of the industry. Moreover, growing concerns about climate change and environmental sustainability drive the adoption of ORC systems.

For instance, in June 2022, ORC waste heat to power systems, alongside renewable energy specialists Geothermal Development & Investment (GDI) and EXERGY International, joined forces to promote the deployment of ORC-powered geothermal power plants across Japan. This collaboration facilitated the expansion of their operations into Southeast Asia leveraging ORC technology for waste heat recovery and various heat-related renewable energy applications.

Authors: Ankit Gupta, Vishal Saini

Frequently Asked Questions (FAQ) :

Asia Pacific ORC waste heat to power industry size was USD 2.3 billion in 2023 and is expected to register 13.7% CAGR from 2024-2032 owing to the industry’s shift toward utilizing reliable medium and low-temperature heat sources to generate power in the region.

Asia Pacific ORC waste heat to power market from the ? 1 MWe segment is expected to exceed USD 2 billion by 2032 due to great dependability, adaptability, and efficiency of ORC systems, driving their widespread adoption in installations with smaller capacities.

China ORC waste heat to power industry is expected to cross USD 2.5 billion by 2032 due to strategic focus on renewable energy sources, aiming to diminish coal dependency and tackle air pollution in the country.

Enertime, General Electric, Mitsubishi Heavy Industries, Ltd., Opel Energy Systems Pvt. Ltd, ORCAN ENERGY AG, Ormat Technologies, Siemens Energy, SRMtec, TMEIC, Turboden S.p.A, Zhejiang Kaishan Compressor Co., Ltd., are some of the major ORC waste heat to power companies in Asia Pacific.