Europe Organic Rankine Cycle Market Size & Outlook
Europe organic rankine cycle market, 2018-2030 (US$M)
Related Markets
Europe organic rankine cycle market highlights
- The Europe organic rankine cycle market generated a revenue of USD 265.6 million in 2023.
- The market is expected to grow at a CAGR of 3.3% from 2024 to 2030.
- In terms of segment, geothermal was the largest revenue generating application in 2023.
- Solar Thermal is the most lucrative application segment registering the fastest growth during the forecast period.
- Country-wise, Turkey is expected to register the highest CAGR from 2024 to 2030.
Europe data book summary
| Market revenue in 2023 | USD 265.6 million |
| Market revenue in 2030 | USD 333.2 million |
| Growth rate | 3.3% (CAGR from 2023 to 2030) |
| Largest segment | Geothermal |
| Fastest growing segment | Solar Thermal |
| Historical data covered | 2018 - 2022 |
| Base year for estimation | 2023 |
| Forecast period covered | 2024 - 2030 |
| Quantitative units | Revenue in USD million |
| Market segmentation | Waste Heat Recovery, Biomass, Geothermal, Solar Thermal, Oil & Gas (Gas pipeline pressure stations), 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, Europe region accounted for 32.4% of the global organic rankine cycle market in 2023.
- Globally, North America is projected to lead the regional market in terms of revenue in 2030.
- Asia Pacific is the fastest growing regional market and is projected to reach USD 295.3 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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Europe 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.
Geothermal was the largest segment with a revenue share of 48.72% in 2023. Horizon Databook has segmented the Europe organic rankine cycle market based on waste heat recovery, biomass, geothermal, solar thermal, oil & gas (gas pipeline pressure stations), waste to energy covering the revenue growth of each sub-segment from 2018 to 2030.
Europe has been one of the front-runners in the world in terms of implementing favorable policies and support mechanisms to ensure the growth of renewable energy and energy-efficient projects. It has led Europe to account for a dominant share of the global ORC market.
For instance, the HEATLEAP project that is co-funded by the European Union (EU) aims to showcase the environmental and economic advantages of implementing waste heat recovery systems such as gas expanders and large heat pumps in energy-intensive industries and gas distribution networks.
The geothermal application segment is anticipated to dominate the ORC market in Europe from 2023 to 2030. It is attributed to countries such as Turkey, which have been rapidly enhancing their geothermal power installed capacities.
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Horizon Databook provides a detailed overview of continent-level data and insights on the Europe organic rankine cycle market , including forecasts for subscribers. This continent databook contains high-level insights into Europe organic rankine cycle market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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Europe organic rankine cycle market size, by country, 2018-2030 (US$M)
Europe Organic Rankine Cycle Market Outlook Share, 2023 & 2030 (US$M)
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