China Organic Rankine Cycle Market Size & Outlook
China organic rankine cycle market, 2018-2030 (US$M)
Related Markets
China organic rankine cycle market highlights
- The China organic rankine cycle market generated a revenue of USD 8.6 million in 2023 and is expected to reach USD 23.3 million by 2030.
- The China market is expected to grow at a CAGR of 15.3% from 2024 to 2030.
- In terms of segment, waste heat recovery was the largest revenue generating application in 2023.
- Geothermal 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 8.6 million |
| Market revenue in 2030 | USD 23.3 million |
| Growth rate | 15.3% (CAGR from 2023 to 2030) |
| Largest segment | Waste heat recovery |
| Fastest growing segment | Geothermal |
| Historical data | 2018 - 2022 |
| Base year | 2023 |
| Forecast period | 2024 - 2030 |
| Quantitative units | Revenue in USD million |
| Market segmentation | Waste Heat Recovery, Biomass, Geothermal |
| 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, China accounted for 1.0% 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 Asia Pacific, China organic rankine cycle market is projected to lead the regional market in terms of revenue in 2030.
- China is the fastest growing regional market in Asia Pacific and is projected to reach USD 23.3 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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China 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 82.56% in 2023. Horizon Databook has segmented the China organic rankine cycle market based on waste heat recovery, biomass, geothermal covering the revenue growth of each sub-segment from 2018 to 2030.
The waste heat recovery segment dominated the ORC market in China as the country is home to one of the major large-scale ORC-based waste heat recovery plants. In November 2022, EXERGY INTERNATIONAL was awarded a contract for developing a 5.8 MWe capacity waste heat recovery project in China by its affiliated corporation, Nanjing TICA Thermal Technology.
After this, a rise in the number of small-scale ORC-based waste heat recovery projects is observed in the country. These projects have been deployed by many companies operating in the country, such as "Tangshan Xiangtai Metal Products Co. Ltd.", "Jiangsu Xingda Iron and Steel Group Co. Ltd", and "Chizhou Shitai County Jin Xin Calcium Industry Co. Ltd".
These developments are expected to increase the country's adoption of ORC-based waste heat recovery projects. It will make the waste heat recovery segment dominate the ORC market in China in the forecast period.
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Horizon Databook provides a detailed overview of country-level data and insights on the China organic rankine cycle market , including forecasts for subscribers. This country databook contains high-level insights into China organic rankine cycle market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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China organic rankine cycle market size, by application, 2018-2030 (US$M)
China Organic Rankine Cycle Market Outlook Share, 2023 & 2030 (US$M)
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