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Asia Pacific ORC Waste Heat to Power Market
Updated On

Jan 22 2025

Total Pages

130

Asia Pacific ORC Waste Heat to Power Market Future-proof Strategies: Trends, Competitor Dynamics, and Opportunities 2025-2033

Asia Pacific ORC Waste Heat to Power Market by Power Output, 2019 -2032 (MW, USD Million) (≤ 1 Mwe, > 1 - 5 Mwe, > 5 - 10 Mwe, > 10 MWe), by Asia Pacific (China, India, Japan, Australia, South Korea, Indonesia, Malaysia, Singapore, Thailand, Vietnam, Philippines, Sri Lanka) Forecast 2025-2033

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Asia Pacific ORC Waste Heat to Power Market Future-proof Strategies: Trends, Competitor Dynamics, and Opportunities 2025-2033

Key Insights

The size of the Asia Pacific ORC Waste Heat to Power Market was valued at USD 2.3 Billion in 2024 and is projected to reach USD 5.65 Billion by 2033, with an expected CAGR of 13.7% during the forecast period. This growth is spurred by the rapid industrialization and urbanization, increasing awareness about the potential of waste heat recovery, and governmental incentives for renewable energy. Technology improvements in ORC systems add to their effectiveness and usage. Major applications occur in manufacturing industries, power plants, and marine vessels where ORC plays a significant role in energy efficiency improvements and emission reductions. It includes market leaders such as ABB, Alfa Laval, and Siemens Energy that are continuously innovating and expanding this fast-changing sector.

Asia Pacific ORC Waste Heat to Power Market Research Report - Market Size, Growth & Forecast

Asia Pacific ORC Waste Heat to Power Market Concentration & Characteristics

  • Concentration: The market is expected to remain concentrated, with major players holding a significant share.
  • Innovation: Continuous investment in R&D by major players is expected to drive innovation in ORC technology.
  • Regulations: Government regulations promoting energy efficiency and renewable energy adoption are expected to impact market growth.
  • Product Substitutes: Limited viable alternatives for waste heat recovery could support market demand.
  • End User Concentration: Industrial and manufacturing sectors are expected to remain the primary end users of ORC systems.
  • M&A: Strategic acquisitions and mergers are anticipated to shape the competitive landscape.

Asia Pacific ORC Waste Heat to Power Market Trends

  • Increased Adoption of Industrial Waste Heat Recovery: Growing awareness of energy efficiency and carbon reduction initiatives is driving the adoption of ORC systems in industrial settings.
  • Technological Advancements: Ongoing R&D is leading to more efficient and cost-effective ORC systems, enhancing their viability.
  • Government Support for Renewable Energy: Government incentives and subsidies are expected to boost the adoption of ORC technology.
  • Rising Energy Costs: Fluctuating energy prices are making the economic benefits of waste heat recovery more attractive.
  • Decentralized Energy Generation: ORC systems offer decentralized energy generation solutions, increasing grid resilience and reducing transmission losses.

Asia Pacific ORC Waste Heat to Power Market Growth

Key Region or Country & Segment to Dominate the Market

  • Region: China is expected to dominate the market due to its large industrial base and growing demand for energy efficiency.
  • Segment: The subsegment with power output greater than 10 MWe is projected to witness the highest growth, driven by large-scale industrial applications.

Asia Pacific ORC Waste Heat to Power Market Product Insights Report Coverage & Deliverables

  • Market size and growth projections
  • Market segments and regional analysis
  • Competitive landscape and market share analysis
  • Industry trends and drivers
  • Key players and their strategies

Asia Pacific ORC Waste Heat to Power Market Analysis

  • Market Size and Share: The market size is estimated to reach 2.3 Billion by 2032, with China accounting for a significant share.
  • Growth Prospects: The market is expected to exhibit a CAGR of 13.7% over the forecast period, driven by increasing industrialization and government support.

Asia Pacific ORC Waste Heat to Power Market Regional Insights

  • Asia Pacific:
    • China
    • India
    • Japan
    • Australia
    • South Korea
    • Indonesia
    • Malaysia
    • Singapore
    • Thailand
    • Vietnam
    • Philippines
    • Sri Lanka

Driving Forces: What's Propelling the Asia Pacific ORC Waste Heat to Power Market

  • Growing industrialization and energy demand
  • Rising awareness of energy efficiency and carbon reduction
  • Government incentives and regulations
  • Technological advancements in ORC systems
  • Declining costs of ORC systems

Challenges and Restraints in Asia Pacific ORC Waste Heat to Power Market

  • Lack of awareness about ORC technology
  • High capital costs associated with ORC systems
  • Limited availability of skilled workforce

Emerging Trends in Asia Pacific ORC Waste Heat to Power Market

  • Integration of ORC systems with other renewable energy sources
  • Development of more efficient and compact ORC systems
  • Increasing applications in decentralized energy generation

Asia Pacific ORC Waste Heat to Power Industry News

  • September 2022: Mitsubishi Heavy Industries introduced a new binary power generation system for marine vessels.
  • November 2021: Alfa Laval showcased its remote engineering capabilities for ORC solutions.

Leading Players in the Asia Pacific ORC Waste Heat to Power Market

Asia Pacific ORC Waste Heat to Power Market Segmentation

  • 1. Power Output
    • 1.1. ≤ 1 Mwe
    • 1.2. > 1 - 5 Mwe
    • 1.3. > 5 - 10 Mwe
    • 1.4. > 10 MWe

Asia Pacific ORC Waste Heat to Power Market Segmentation By Geography

  • 1. Asia Pacific
    • 1.1. China
    • 1.2. India
    • 1.3. Japan
    • 1.4. Australia
    • 1.5. South Korea
    • 1.6. Indonesia
    • 1.7. Malaysia
    • 1.8. Singapore
    • 1.9. Thailand
    • 1.10. Vietnam
    • 1.11. Philippines
    • 1.12. Sri Lanka

Asia Pacific ORC Waste Heat to Power Market Regional Share

Asia Pacific ORC Waste Heat to Power Market REPORT HIGHLIGHTS

AspectsDetails
Study Period 2019-2033
Base Year 2024
Estimated Year 2025
Forecast Period2025-2033
Historical Period2019-2024
Growth RateCAGR of 13.7% from 2019-2033
Segmentation
    • By Power Output, 2019 -2032 (MW, USD Million)
      • ≤ 1 Mwe
      • > 1 - 5 Mwe
      • > 5 - 10 Mwe
      • > 10 MWe
  • By Geography
    • Asia Pacific
      • China
      • India
      • Japan
      • Australia
      • South Korea
      • Indonesia
      • Malaysia
      • Singapore
      • Thailand
      • Vietnam
      • Philippines
      • Sri Lanka
Table Of Content
  1. 1. Introduction
    • 1.1. Research Scope
    • 1.2. Market Segmentation
    • 1.3. Research Methodology
    • 1.4. Definitions and Assumptions
  2. 2. Executive Summary
    • 2.1. Introduction
  3. 3. Market Dynamics
    • 3.1. Introduction
      • 3.2. Market Drivers
        • 3.2.1 Robust growth in the manufacturing sector
        • 3.2.2 Stringent emission norms
        • 3.2.3 Increasing clean energy demand
      • 3.3. Market Restrains
        • 3.3.1. Availability of other alternative technologies
      • 3.4. Market Trends
        • 3.4.1. Increased Adoption of Industrial Waste Heat Recovery
  4. 4. Market Factor Analysis
    • 4.1. Porters Five Forces
    • 4.2. Supply/Value Chain
    • 4.3. PESTEL analysis
    • 4.4. Market Entropy
    • 4.5. Patent/Trademark Analysis
  5. 5. Asia Pacific ORC Waste Heat to Power Market Analysis, Insights and Forecast, 2019-2031
    • 5.1. Market Analysis, Insights and Forecast - by Power Output, 2019 -2032 (MW, USD Million)
      • 5.1.1. ≤ 1 Mwe
      • 5.1.2. > 1 - 5 Mwe
      • 5.1.3. > 5 - 10 Mwe
      • 5.1.4. > 10 MWe
    • 5.2. Market Analysis, Insights and Forecast - by Region
      • 5.2.1. Asia Pacific
  6. 6. Competitive Analysis
    • 6.1. Market Share Analysis 2024
      • 6.2. Company Profiles
        • 6.2.1 ABB
          • 6.2.1.1. Overview
          • 6.2.1.2. Products
          • 6.2.1.3. SWOT Analysis
          • 6.2.1.4. Recent Developments
          • 6.2.1.5. Financials (Based on Availability)
        • 6.2.2 ALFA LAVAL
          • 6.2.2.1. Overview
          • 6.2.2.2. Products
          • 6.2.2.3. SWOT Analysis
          • 6.2.2.4. Recent Developments
          • 6.2.2.5. Financials (Based on Availability)
        • 6.2.3 Atlas Copco AB
          • 6.2.3.1. Overview
          • 6.2.3.2. Products
          • 6.2.3.3. SWOT Analysis
          • 6.2.3.4. Recent Developments
          • 6.2.3.5. Financials (Based on Availability)
        • 6.2.4 CTMI - Steam Turbines
          • 6.2.4.1. Overview
          • 6.2.4.2. Products
          • 6.2.4.3. SWOT Analysis
          • 6.2.4.4. Recent Developments
          • 6.2.4.5. Financials (Based on Availability)
        • 6.2.5 Dürr Group
          • 6.2.5.1. Overview
          • 6.2.5.2. Products
          • 6.2.5.3. SWOT Analysis
          • 6.2.5.4. Recent Developments
          • 6.2.5.5. Financials (Based on Availability)
        • 6.2.6 Enertime
          • 6.2.6.1. Overview
          • 6.2.6.2. Products
          • 6.2.6.3. SWOT Analysis
          • 6.2.6.4. Recent Developments
          • 6.2.6.5. Financials (Based on Availability)
        • 6.2.7 ENOGIA
          • 6.2.7.1. Overview
          • 6.2.7.2. Products
          • 6.2.7.3. SWOT Analysis
          • 6.2.7.4. Recent Developments
          • 6.2.7.5. Financials (Based on Availability)
        • 6.2.8 General Electric
          • 6.2.8.1. Overview
          • 6.2.8.2. Products
          • 6.2.8.3. SWOT Analysis
          • 6.2.8.4. Recent Developments
          • 6.2.8.5. Financials (Based on Availability)
        • 6.2.9 Mitsubishi Heavy Industries Ltd.
          • 6.2.9.1. Overview
          • 6.2.9.2. Products
          • 6.2.9.3. SWOT Analysis
          • 6.2.9.4. Recent Developments
          • 6.2.9.5. Financials (Based on Availability)
        • 6.2.10 Opel Energy Systems Pvt. Ltd.
          • 6.2.10.1. Overview
          • 6.2.10.2. Products
          • 6.2.10.3. SWOT Analysis
          • 6.2.10.4. Recent Developments
          • 6.2.10.5. Financials (Based on Availability)
        • 6.2.11 ORCAN ENERGY AG
          • 6.2.11.1. Overview
          • 6.2.11.2. Products
          • 6.2.11.3. SWOT Analysis
          • 6.2.11.4. Recent Developments
          • 6.2.11.5. Financials (Based on Availability)
        • 6.2.12 Ormat Technologies
          • 6.2.12.1. Overview
          • 6.2.12.2. Products
          • 6.2.12.3. SWOT Analysis
          • 6.2.12.4. Recent Developments
          • 6.2.12.5. Financials (Based on Availability)
        • 6.2.13 Siemens Energy
          • 6.2.13.1. Overview
          • 6.2.13.2. Products
          • 6.2.13.3. SWOT Analysis
          • 6.2.13.4. Recent Developments
          • 6.2.13.5. Financials (Based on Availability)
        • 6.2.14 SRMtec
          • 6.2.14.1. Overview
          • 6.2.14.2. Products
          • 6.2.14.3. SWOT Analysis
          • 6.2.14.4. Recent Developments
          • 6.2.14.5. Financials (Based on Availability)
        • 6.2.15 TMEIC
          • 6.2.15.1. Overview
          • 6.2.15.2. Products
          • 6.2.15.3. SWOT Analysis
          • 6.2.15.4. Recent Developments
          • 6.2.15.5. Financials (Based on Availability)
        • 6.2.16 Turboden S.p.A
          • 6.2.16.1. Overview
          • 6.2.16.2. Products
          • 6.2.16.3. SWOT Analysis
          • 6.2.16.4. Recent Developments
          • 6.2.16.5. Financials (Based on Availability)
        • 6.2.17 Zhejiang Kaishan Compressor Co. Ltd.
          • 6.2.17.1. Overview
          • 6.2.17.2. Products
          • 6.2.17.3. SWOT Analysis
          • 6.2.17.4. Recent Developments
          • 6.2.17.5. Financials (Based on Availability)
List of Figures
  1. Figure 1: Asia Pacific ORC Waste Heat to Power Market Revenue Breakdown (Billion, %) by Product 2024 & 2032
  2. Figure 2: Asia Pacific ORC Waste Heat to Power Market Share (%) by Company 2024
List of Tables
  1. Table 1: Asia Pacific ORC Waste Heat to Power Market Revenue Billion Forecast, by Region 2019 & 2032
  2. Table 2: Asia Pacific ORC Waste Heat to Power Market Volume units Forecast, by Region 2019 & 2032
  3. Table 3: Asia Pacific ORC Waste Heat to Power Market Revenue Billion Forecast, by Power Output, 2019 -2032 (MW, USD Million) 2019 & 2032
  4. Table 4: Asia Pacific ORC Waste Heat to Power Market Volume units Forecast, by Power Output, 2019 -2032 (MW, USD Million) 2019 & 2032
  5. Table 5: Asia Pacific ORC Waste Heat to Power Market Revenue Billion Forecast, by Region 2019 & 2032
  6. Table 6: Asia Pacific ORC Waste Heat to Power Market Volume units Forecast, by Region 2019 & 2032
  7. Table 7: Asia Pacific ORC Waste Heat to Power Market Revenue Billion Forecast, by Power Output, 2019 -2032 (MW, USD Million) 2019 & 2032
  8. Table 8: Asia Pacific ORC Waste Heat to Power Market Volume units Forecast, by Power Output, 2019 -2032 (MW, USD Million) 2019 & 2032
  9. Table 9: Asia Pacific ORC Waste Heat to Power Market Revenue Billion Forecast, by Country 2019 & 2032
  10. Table 10: Asia Pacific ORC Waste Heat to Power Market Volume units Forecast, by Country 2019 & 2032
  11. Table 11: China Asia Pacific ORC Waste Heat to Power Market Revenue (Billion) Forecast, by Application 2019 & 2032
  12. Table 12: China Asia Pacific ORC Waste Heat to Power Market Volume (units) Forecast, by Application 2019 & 2032
  13. Table 13: India Asia Pacific ORC Waste Heat to Power Market Revenue (Billion) Forecast, by Application 2019 & 2032
  14. Table 14: India Asia Pacific ORC Waste Heat to Power Market Volume (units) Forecast, by Application 2019 & 2032
  15. Table 15: Japan Asia Pacific ORC Waste Heat to Power Market Revenue (Billion) Forecast, by Application 2019 & 2032
  16. Table 16: Japan Asia Pacific ORC Waste Heat to Power Market Volume (units) Forecast, by Application 2019 & 2032
  17. Table 17: Australia Asia Pacific ORC Waste Heat to Power Market Revenue (Billion) Forecast, by Application 2019 & 2032
  18. Table 18: Australia Asia Pacific ORC Waste Heat to Power Market Volume (units) Forecast, by Application 2019 & 2032
  19. Table 19: South Korea Asia Pacific ORC Waste Heat to Power Market Revenue (Billion) Forecast, by Application 2019 & 2032
  20. Table 20: South Korea Asia Pacific ORC Waste Heat to Power Market Volume (units) Forecast, by Application 2019 & 2032
  21. Table 21: Indonesia Asia Pacific ORC Waste Heat to Power Market Revenue (Billion) Forecast, by Application 2019 & 2032
  22. Table 22: Indonesia Asia Pacific ORC Waste Heat to Power Market Volume (units) Forecast, by Application 2019 & 2032
  23. Table 23: Malaysia Asia Pacific ORC Waste Heat to Power Market Revenue (Billion) Forecast, by Application 2019 & 2032
  24. Table 24: Malaysia Asia Pacific ORC Waste Heat to Power Market Volume (units) Forecast, by Application 2019 & 2032
  25. Table 25: Singapore Asia Pacific ORC Waste Heat to Power Market Revenue (Billion) Forecast, by Application 2019 & 2032
  26. Table 26: Singapore Asia Pacific ORC Waste Heat to Power Market Volume (units) Forecast, by Application 2019 & 2032
  27. Table 27: Thailand Asia Pacific ORC Waste Heat to Power Market Revenue (Billion) Forecast, by Application 2019 & 2032
  28. Table 28: Thailand Asia Pacific ORC Waste Heat to Power Market Volume (units) Forecast, by Application 2019 & 2032
  29. Table 29: Vietnam Asia Pacific ORC Waste Heat to Power Market Revenue (Billion) Forecast, by Application 2019 & 2032
  30. Table 30: Vietnam Asia Pacific ORC Waste Heat to Power Market Volume (units) Forecast, by Application 2019 & 2032
  31. Table 31: Philippines Asia Pacific ORC Waste Heat to Power Market Revenue (Billion) Forecast, by Application 2019 & 2032
  32. Table 32: Philippines Asia Pacific ORC Waste Heat to Power Market Volume (units) Forecast, by Application 2019 & 2032
  33. Table 33: Sri Lanka Asia Pacific ORC Waste Heat to Power Market Revenue (Billion) Forecast, by Application 2019 & 2032
  34. Table 34: Sri Lanka Asia Pacific ORC Waste Heat to Power Market Volume (units) Forecast, by Application 2019 & 2032

STEP 1 - Identification of Relevant Samples Size from Population Database

Step Chart
bar chart
method chart

STEP 2 - Approaches for Defining Global Market Size (Value, Volume* & Price*)

approach chart
Top-down and bottom-up approaches are used to validate the global market size and estimate the market size for manufactures, regional segemnts, product and application.

Note* : In applicable scenarios

STEP 3 - Data Sources

Primary Research

  • Web Analytics
  • Survey Reports
  • Research Institute
  • Latest Research Reports
  • Opinion Leaders

Secondary Research

  • Annual Reports
  • White Paper
  • Latest Press Release
  • Industry Association
  • Paid Database
  • Investor Presentations
approach chart

STEP 4 - Data Triangulation

Involves using different sources of information in order to increase the validity of a study

These sources are likely to be stakeholders in a program - participants, other researchers, program staff, other community members, and so on.

Then we put all data in single framework & apply various statistical tools to find out the dynamic on the market.

During the analysis stage, feedback from the stakeholder groups would be compared to determine areas of agreement as well as areas of divergence

Additionally after gathering mix and scattered data from wide range of sources, data is triangull- ated and correlated to come up with estimated figures which are further validated through primary mediums, or industry experts, opinion leader.

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