ORC Industrial Waste Heat to Power Market Size

ORC Industrial Waste Heat to Power Market Size

ORC Industrial Waste Heat to Power Market size valued at USD 3.5 billion in 2022 and is projected to expand at over 12.5% CAGR from 2023 to 2032.

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The growing concerns associated with climate change, carbon footprint, and environmental pollution will have a significant impact on the industry dynamics. In the last decade, several governments worldwide have introduced very stringent government regulations and norms pertaining to the effects of fossil fuel consumption on the environment. For instance, in December 2022, the European Commission rolled out new environmental regulations aimed at making chemical and textile plants greener. These regulations were also introduced to enable effective management and treatment of gas across textile and chemical facilities.

Need for hefty capital investments to restrain industry growth

Lack of grid infrastructure and the optimum need for high initial investments for the development of ORC-based waste heat for powering plants could hamper the adoption of these systems. The ongoing strides in the field of ORC technology are adding to the costs of these systems. This scenario will hamper the product adoption across underdeveloped and developing regions with lack of capital backbone and slow economic growth. However, the surging demand for clean electricity is compelling massive public and private investments to curb emissions, further helping industry players to overcome current roadblocks.