ORC Industrial Waste Heat to Power Market Growth Outlook with Industry Review & Forecasts 2024-2032

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ORC Industrial Waste Heat to Power Market is
expected to be USD 14.1 Billion by 2032
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Industry Overview

• ORC Industrial Waste Heat to Power Market is set
  to witness massive growth through 2032, primarily
  owing to the increasing demand for clean energy
  from various industries worldwide. For instance,
  in the United States, renewable energy is the
  fastest-growing source of energy, which increased
  by 42 between 2010 and 2020. Besides, after
  adding a whopping 256 GW of power capacity,
  renewable energy also made up 29 of country's
  total electricity generation in 2020.
• In addition, key providers in the ORC industrial
  waste heat to power market are also seeking to
  gain a better foothold in the market by expanding
  their portfolio and engaging in meaningful
  acquisitions and mergers. To cite an instance, in
  September 2022, Transitional Energy and
  ElectraTherm announced entering a partnership,
  which will be focused on the conversion of heat
  waste into power, in the oil and gas industry.
  Transitional Energy claims that the collaboration
  will bring respite to energy security and also
  reduce emissions.
• Overall, the ORC industrial waste heat to power
  market is bifurcated in terms of application and
  region.

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• On the basis of application, the market is likely
  to be characterized by the cement segment, which
  will grow at more than 11 CAGR through 2032. The
  tariff on electricity is steadily rising across
  the globe, which along with the immense potential
  for heat recovery will result in the segmental
  expansion during the upcoming decade. For
  instance, the tariff cap on electricity in the
  United Kingdom had risen by 179 between January
  2022 to August 2022.
• In the regional context, the North America ORC
  industrial waste heat to power market recorded an
  installed capacity of more than 165 MW in 2022.
  The regional market expansion can be attributed
  to the increasing requirement for onsite power
  generation and a positive outlook toward the
  industrial sector. Moreover, companies operating
  in the region are engaging in strategic effort to
  gain a competitive advantage.
• For instance, in July 2022, Kanin Energy and
  Tallgrass announced collectively developing four
  waste heat to power clean energy projects. While
  three of them will be in Ohio, the remaining one
  will be in Indiana, and these power projects will
  be operational from 2024. Besides, they will
  generate around 410,000 MWh of electricity each
  year, providing a clean power supply to 38,000
  houses in the country.

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ORC Industrial Waste Heat to Power Market

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