Stratistics MRC에 따르면 세계의 유기 랭킨 사이클 시장은 2025년에 182억 달러, 예측 기간 동안 CAGR 8.87%로 성장하고 2032년에는 330억 달러에 이를 전망입니다.
유기 랭킨 사이클(ORC)은 끓는점이 낮은 유기 작동 유체를 사용하여 저온의 열원을 전력으로 변환하는 열역학적 프로세스입니다. 에너지를 회수할 수 있습니다. 기화하고 팽창기나 터빈으로 팽창하여 발전한 후 유체는 응축하여 재순환합니다.
폐열 회수 수요 증가
에너지 효율은 ORC 시스템에 의해 향상되어 산업 활동에서 발생하는 저품위의 폐열을 사용 가능한 전기로 효과적으로 변환합니다. 탄소 배출을 장려하는 환경 규제에 의해서도 추진되고 있습니다. 바이오매스나 지열 등, 다양한 열원을 이용할 수 있기 때문에 이 기술의 응용 범위는 한층 더 넓어지고 있습니다.
높은 초기 설비 투자
중소기업의 경우 ORC 시스템의 도입은 높은 구매 및 설치 비용으로 인해 어려움을 겪고 있습니다. 투자자는 투자 회수 기간의 길이에 매력을 느끼지 않습니다. 또한, 특히 서포트가 간편한 지역에서는 고액의 초기 투자도 보급을 방해하고 있습니다.
소형 모듈식 ORC 시스템 개발
모듈식, 컴팩트한 유기 랭킨 사이클(ORC) 시스템이 개발됨으로써, 그 적응성이 높아지고, 다양한 용도나 소규모 발전에 적합한 것이 되었습니다. 컴팩트한 디자인은 제한된 장소에 통합할 수 있도록 함으로써 폐열 회수 및 재생 에너지와 같은 분야에서 활용도를 높입니다.
대체 기술과의 경쟁
특정 용도에서는 증기 랭킨 사이클, 카리나 사이클 및 기타 열 회수 시스템과 같은 기술이 뛰어난 성능을 발휘하는 경우가 많습니다. 일부 대체 기술에 비해 크기 때문에 채택은 더욱 제약됩니다. 또한 기존 기술이 시장에서 존재감이 크고 신뢰성의 실적도 있기 때문에 고객은 전환에 소극적입니다.
COVID-19의 영향
COVID-19의 대유행은 전 세계 산업 활동 중단과 프로젝트 지연으로 유기 랭킨 사이클(ORC) 시장을 일시적으로 혼란시켰습니다. 지속 가능한 에너지 회복과 친환경 기술에 대한 정부의 경기 부양책에 대한 관심이 높아지면서 팬데믹 이후 시장 회복이 가속화되었습니다. 폐열 회수와 재생 가능 에너지 발전 솔루션 수요가 강화되어 발전, 제조, 석유 및 가스의 각 분야에서 ORC 시스템의 기술 혁신과 도입이 촉진되었습니다.
예측 기간 동안 냉매 부문이 최대가 될 전망
냉매 부문은 낮은 품질의 열원에서 열 회수를 촉진하는 효율적인 작동 유체를 제공함으로써 예측 기간 동안 가장 큰 시장 점유율을 차지할 것으로 예측됩니다. 규제에도 적합하며 지속 가능한 에너지 솔루션에서의 ORC 채택을 뒷받침하고 있습니다. 또한 냉매 배합의 진보는 시스템의 부식이 감소하고 장비의 수명이 늘어나기 때문에 운영 비용이 줄어듭니다.
예측기간 동안 식음료 분야가 가장 높은 CAGR이 예상
예측기간 동안 식음료분야는 조리, 저온살균, 냉장 등의 공정에서 폐열회수를 이용함으로써 가장 높은 성장률을 보일 것으로 예측됩니다. 에너지 절약 기술에 대한 수요가 증가함에 따라 ORC 채택을 뒷받침하고 있습니다. 또한 탄소 발자국을 줄이는 규제 압력은이 부서에 ORC 솔루션을 도입하도록 촉구하고 있습니다.
예측 기간 동안 아시아태평양은 산업 성장과 에너지 수요 증가로 최대 시장 점유율을 차지할 것으로 예측됩니다. 제조업과 중공업의 급증은 ORC 시스템 전개에 방대한 기회를 제공하고 있으며, 그린 기술을 추진하는 정부의 대처와 인프라 지출 증가가 시장 도입을 가속화하고 있으며, 이 지역을 ORC의 혁신과 도입의 중요한 거점으로 자리잡고 있습니다.
예측 기간 동안 재생 가능 에너지와 폐열 회수 솔루션 수요로 인해 북미가 가장 높은 CAGR을 나타낼 것으로 예측됩니다. 우리는 정부의 지원 정책과 청정 에너지 인프라에 대한 투자가 시장 성장을 더욱 강화하고 있습니다.
According to Stratistics MRC, the Global Organic Rankine Cycle Market is accounted for $18.20 billion in 2025 and is expected to reach $33.00 billion by 2032 growing at a CAGR of 8.87% during the forecast period. The Organic Rankine Cycle (ORC) is a thermodynamic process that uses an organic working fluid with a low boiling point to transform low-temperature heat sources into electrical power. In contrast to conventional Rankine cycles, which rely on water, ORC uses hydrocarbons or refrigerants, enabling effective energy recovery from biomass, geothermal, or waste heat. After vaporising and expanding through an expander or turbine to generate electricity, the fluid condenses and recirculates. The capacity of ORC systems to stably capture low-grade heat enhances overall energy efficiency in industrial and power generating applications.
Rising demand for waste heat recovery
Energy efficiency is increased via ORC systems, which effectively transform low-grade waste heat from industrial operations into useable electricity. Businesses are compelled to use ORC technology for economic power generation due to rising industrialisation and energy expenses. Adoption of ORC is also aided by environmental restrictions that encourage lower carbon emissions. The technology's application is further expanded by its capacity to use a variety of heat sources, such as biomass and geothermal. All things considered, the ORC market is expanding due to the increased focus on renewable and sustainable energy sources.
High initial capital investment
Small and medium-sized businesses find it challenging to deploy ORC systems due to their high cost of purchase and installation. Due to this financial barrier, many potential consumers postpone or refrain from investing, which inhibits market growth. Furthermore, investors looking for rapid profits find the lengthy payback period less appealing. Widespread adoption is also hampered by high upfront expenditures, particularly in areas with little support. As a result, even if ORC technology has efficiency advantages, its market penetration is limited by its initial capital required.
Development of compact and modular ORC systems
The creation of modular and compact Organic Rankine Cycle (ORC) systems has increased their adaptability, making them appropriate for a range of uses and smaller-scale power production. Their modular design lowers total costs by facilitating simpler maintenance, scalability, and installation. Compact designs increase their utilisation in sectors like waste heat recovery and renewable energy by allowing integration into constrained places. These developments also increase system dependability and efficiency, which draws in more end users. All things considered, the development of small and modular ORC systems drives market uptake and global expansion.
Competition from alternative technologies
In certain applications, technologies such steam Rankine cycles, Kalina cycles, and other heat recovery systems frequently offer superior performance. Furthermore, investments are drawn away from ORC by developments in solar thermal, waste heat recovery, and electric power production technologies. Adoption is further constrained by ORC systems' greater initial capital cost and complexity in comparison to some alternatives. Customers are also reluctant to convert because existing technologies have a larger market presence and a track record of dependability. All things considered, these obstacles impede the expansion and broader application of ORC technology in the energy industry.
Covid-19 Impact
The Covid-19 pandemic temporarily disrupted the Organic Rankine Cycle (ORC) market due to halted industrial activities and delayed projects worldwide. Supply chain interruptions and reduced investments slowed market growth in 2020. However, increasing focus on sustainable energy recovery and government stimulus for green technologies accelerated market recovery post-pandemic. The demand for waste heat recovery and renewable energy solutions strengthened, driving innovation and adoption of ORC systems across power generation, manufacturing, and oil & gas sectors. Overall, Covid-19 caused short-term setbacks but boosted long-term growth prospects.
The refrigerants segment is expected to be the largest during the forecast period
The refrigerants segment is expected to account for the largest market share during the forecast period by offering efficient working fluids that enhance heat recovery from low-grade thermal sources. These refrigerants have favorable thermodynamic properties like low boiling points, which improve the cycle's energy conversion efficiency. Environmentally friendly refrigerants also align with global regulations, boosting ORC adoption in sustainable energy solutions. Moreover, advances in refrigerant formulations reduce system corrosion and increase equipment lifespan, lowering operational costs. Together, these factors propel the growth and technological advancement of the ORC market.
The food & beverage segment is expected to have the highest CAGR during the forecast period
Over the forecast period, the food & beverage segment is predicted to witness the highest growth rate by utilizing waste heat recovery from processes such as cooking, pasteurization, and refrigeration. This sector generates significant low-grade heat, which ORC systems efficiently convert into usable power, enhancing energy efficiency. Increasing demand for sustainable and energy-saving technologies in food processing plants boosts ORC adoption. Additionally, regulatory pressure to reduce carbon footprints encourages this sector to implement ORC solutions. Overall, the food & beverages industry's energy needs and sustainability goals propel the growth of the ORC market.
During the forecast period, the Asia Pacific region is expected to hold the largest market share by industrial growth and rising energy demand. Countries like China, Japan, and India are investing heavily in sustainable power generation and waste heat recovery to reduce carbon emissions. The surge in manufacturing and heavy industries offers vast opportunities for ORC system deployment. Additionally, government initiatives promoting green technologies and increased infrastructure spending are accelerating market adoption, positioning the region as a key hub for ORC innovation and implementation.
Over the forecast period, the North America region is anticipated to exhibit the highest CAGR, owing to demand for renewable energy and waste heat recovery solutions. Key industries such as oil & gas, manufacturing, and geothermal power plants are adopting ORC technology to enhance energy efficiency. Supportive government policies and investments in clean energy infrastructure further boost market growth. Additionally, the presence of leading ORC technology providers and ongoing R&D activities contribute to expanding the market across the region.
Key players in the market
Some of the key players profiled in the Organic Rankine Cycle Market include Mitsubishi Heavy Industries, Ormat Technologies Inc., Exergy International Srl, Enogia S.A.S., ORCAN Energy AG, Kaishan USA, Triogen Limited, Climeon AB, ElectraTherm, Inc., Baker Hughes Company, Atlas Copco AB, Alfa Laval AB, Siemens Energy AG, General Electric Company, Kawasaki Heavy Industries Ltd., IHI Corporation and Dyckerhoff.
In October 2024, Mitsubishi Heavy Industries signed an agreement with Empower, the world's largest district cooling services provider, to supply advanced chillers with a total capacity of up to 100,000 Refrigeration Tons (RT). This collaboration aims to enhance energy efficiency and support sustainable cooling solutions in Dubai's district cooling projects, including Deira Waterfront Development, Jumeirah Village, and Al Sufouh.
In October 2023, Ormat acquired geothermal and solar assets from Enel Green Power North America for USD 271 million. This acquisition includes two operational geothermal plants and a hybrid facility combining solar PV, geothermal, and solar thermal plants.
In February 2023, MHI and MHI Marine Machinery and Equipment Co., Ltd. developed a 100kW class cryogenic ORC power generation system utilizing a hermetically sealed, oilless turbine. Demonstration tests using liquid nitrogen as a cryogenic energy source confirmed stable operation, paving the way for efficient LNG and hydrogen cryogenic power generation.