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Europe ORC Waste Heat to Power Market by Power Output (≤ 1 MWe, > 1 - 5 MWe, > 5 - 10 MWe, > 10 MWe), by Europe (Germany, France, United Kingdom, Italy, Spain, Netherlands, Sweden, Norway, Switzerland) Forecast 2025-2033
The size of the Europe ORC Waste Heat to Power Market was valued at USD XX Billion in 2023 and is projected to reach USD XX Billion by 2032, with an expected CAGR of 16.3% during the forecast period.The Europe ORC (Organic Rankine Cycle) Waste Heat to Power Market is rapidly expanding as industries focus on energy efficiency and waste heat recovery. The ORC process involves converting waste heat into usable electricity, providing a sustainable solution for industries such as manufacturing, oil and gas, and power generation.Europe’s stringent energy efficiency regulations and ambitious climate goals are key drivers for this market. Countries like Germany, France, and Italy are leading in ORC technology adoption, supported by government incentives and funding for renewable energy projects. Additionally, the growing emphasis on reducing operational costs and carbon emissions is encouraging industries to invest in waste heat recovery systems.Technological advancements in ORC systems, including improved efficiency and the ability to operate at lower temperatures, are further propelling market growth. However, high initial investment costs and technical challenges in integrating ORC systems into existing infrastructure may act as barriers. Despite these challenges, the Europe ORC Waste Heat to Power Market is poised for robust growth, driven by increasing industrialization, energy efficiency mandates, and the need for sustainable power generation solutions.
The market is fragmented with a large number of players, including both established and emerging companies. The key players include Atlas Copco AB, ABB, Enertime, Enogia SAS, Exergy International SRL, General Electric, IHI Corporation, Intec GMK, Mitsubishi Heavy Industries, Ormat, Siemens Energy, SUEZ, Thermax Ltd., Triogen, and Turboden S.p.A. The market is characterized by innovation and ongoing technological developments. Regulations on environmental protection and carbon emissions impact the industry. End-user concentration is high with key industries being manufacturing, petrochemicals, and power generation. A level of M&A activity has been observed as larger players seek to consolidate market share and expand their product offerings.
Increasing adoption of renewable energy sources, particularly in response to climate change concerns, is a major market driver. technological advancements in ORC technology, such as improved efficiency and reduced costs, are enhancing the viability of waste heat recovery projects. Government incentives and policies that promote the use of renewable energy and reduce carbon emissions positively impact market growth. Growth in the manufacturing sector and the increasing use of waste heat recovery systems in industrial processes are also contributing to market expansion.
Key Regions:
Dominant Segments:
The market is expected to grow steadily over the forecast period. Increasing demand for renewable energy sources, technological advancements, and supportive government policies will continue to drive market expansion. The market is expected to be driven by the expansion of the manufacturing sector and the growing adoption of waste heat recovery systems in industrial processes. Key market players are focusing on innovation and product development to gain competitive advantage.
Germany, France, the United Kingdom, Italy, and Spain are expected to be the major markets in Europe. These countries have well-established manufacturing industries, a strong focus on renewable energy, and supportive government policies. The manufacturing, petrochemicals, and power generation industries are expected to be the key end-user segments for ORC waste heat to power systems.
June 2023: The UK government announced plans to integrate energy from waste (EfW) and waste incineration into the UK Emissions Trading Scheme by 2028.
July 2020: General Electric launched a Turboexpander generator as part of the ORC bundle for high-enthalpy energy recovery.
Aspects | Details |
---|---|
Study Period | 2019-2033 |
Base Year | 2024 |
Estimated Year | 2025 |
Forecast Period | 2025-2033 |
Historical Period | 2019-2024 |
Growth Rate | CAGR of 16.3% from 2019-2033 |
Segmentation |
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Note* : In applicable scenarios
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