Canada Organic Rankine Cycle Market Size & Outlook
Canada organic rankine cycle market, 2018-2030 (US$M)
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Canada organic rankine cycle market highlights
- The Canada organic rankine cycle market generated a revenue of USD 47.1 million in 2023 and is expected to reach USD 62.2 million by 2030.
- The Canada market is expected to grow at a CAGR of 4.1% from 2024 to 2030.
- In terms of segment, waste heat recovery was the largest revenue generating application in 2023.
- Waste to Energy is the most lucrative application segment registering the fastest growth during the forecast period.
Organic rankine cycle market data book summary
| Market revenue in 2023 | USD 47.1 million |
| Market revenue in 2030 | USD 62.2 million |
| Growth rate | 4.1% (CAGR from 2023 to 2030) |
| Largest segment | Waste heat recovery |
| Fastest growing segment | Waste to Energy |
| Historical data | 2018 - 2022 |
| Base year | 2023 |
| Forecast period | 2024 - 2030 |
| Quantitative units | Revenue in USD million |
| Market segmentation | Waste Heat Recovery, Biomass, Waste to Energy |
| Key market players worldwide | Mitsubishi Heavy Industries Ltd, Energous Corp, Trigano SA, ABB Ltd, Atlas Copco AB ADR, Tasman Resources Ltd, Thor Industries Inc |
Other key industry trends
- In terms of revenue, Canada accounted for 5.7% of the global organic rankine cycle market in 2023.
- Country-wise, U.S. is expected to lead the global market in terms of revenue in 2030.
- In North America, U.S. organic rankine cycle market is projected to lead the regional market in terms of revenue in 2030.
- Canada is the fastest growing regional market in North America and is projected to reach USD 62.2 million by 2030.
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Organic Rankine Cycle Market Scope
Organic Rankine Cycle Market Companies
| Name | Profile | # Employees | HQ | Website |
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Canada organic rankine cycle market outlook
The databook is designed to serve as a comprehensive guide to navigating this sector. The databook focuses on market statistics denoted in the form of revenue and y-o-y growth and CAGR across the globe and regions. A detailed competitive and opportunity analyses related to organic rankine cycle market will help companies and investors design strategic landscapes.
Waste heat recovery was the largest segment with a revenue share of 64.76% in 2023. Horizon Databook has segmented the Canada organic rankine cycle market based on waste heat recovery, biomass, waste to energy covering the revenue growth of each sub-segment from 2018 to 2030.
ORC market in Canada has been dominated by the biomass application segment owing to a rise in biomass energy deployment in the country. For instance, the installed biomass capacity in the country was 2,049 MW in 2020 and is anticipated to reach 2,511 MW in 2028. Currently, a geothermal project based on ORC technology is operational in the country.
In March 2023, The FutEra Power Corp, in collaboration with Razor Energy Corp., completed the construction, commissioning, and operation of their co-produced geothermal power venture in Swan Hills. This project integrates an organic Rankine cycle turbine, which harnesses geothermal heat from the production fluid with a natural gas turbine.
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Horizon Databook provides a detailed overview of country-level data and insights on the Canada organic rankine cycle market , including forecasts for subscribers. This country databook contains high-level insights into Canada organic rankine cycle market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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Canada organic rankine cycle market size, by application, 2018-2030 (US$M)
Canada Organic Rankine Cycle Market Outlook Share, 2023 & 2030 (US$M)
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