Latin America Organic Rankine Cycle Market Size & Outlook
Latin America organic rankine cycle market, 2018-2030 (US$M)
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Latin America organic rankine cycle market highlights
- The Latin America organic rankine cycle market generated a revenue of USD 9.7 million in 2023.
- The market is expected to grow at a CAGR of 3.9% from 2024 to 2030.
- In terms of segment, geothermal was the largest revenue generating application in 2023.
- Geothermal is the most lucrative application segment registering the fastest growth during the forecast period.
Latin America data book summary
| Market revenue in 2023 | USD 9.7 million |
| Market revenue in 2030 | USD 12.7 million |
| Growth rate | 3.9% (CAGR from 2023 to 2030) |
| Largest segment | Geothermal |
| Fastest growing segment | Geothermal |
| 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 |
| 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, Latin America region accounted for 1.2% 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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Latin America 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 72.16% in 2023. Horizon Databook has segmented the Latin America organic rankine cycle market based on waste heat recovery, biomass, geothermal covering the revenue growth of each sub-segment from 2018 to 2030.
The ORC market in the Central & South American region is dominated by countries such as Chile, Honduras, and Nicaragua, as only these countries have operational large-scale ORC-based power plants.
The geothermal application segment dominates the ORC market in the region. In October 2021, Dutch Transmark Renewables, in association with its Icelandic partners GEG and North Tech Energy, launched the modular development of the Adobera geothermal project in Southern Chile.
The initial development plan outlines a phased strategy for the power plant, designed to have an initial power generation capacity of up to 3 MW and projected to become operational by 2023.
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Horizon Databook provides a detailed overview of continent-level data and insights on the Latin America organic rankine cycle market , including forecasts for subscribers. This continent databook contains high-level insights into Latin America organic rankine cycle market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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Latin America Organic Rankine Cycle Market Outlook Share, 2023 & 2030 (US$M)
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