Middle East & Africa Organic Rankine Cycle Market Size & Outlook
Middle East & Africa organic rankine cycle market, 2018-2030 (US$M)
Related Markets
MEA organic rankine cycle market highlights
- The MEA organic rankine cycle market generated a revenue of USD 17.3 million in 2023.
- The market is expected to grow at a CAGR of 4% from 2024 to 2030.
- In terms of segment, waste heat recovery was the largest revenue generating application in 2023.
- Solar Thermal is the most lucrative application segment registering the fastest growth during the forecast period.
MEA data book summary
| Market revenue in 2023 | USD 17.3 million |
| Market revenue in 2030 | USD 22.8 million |
| Growth rate | 4% (CAGR from 2023 to 2030) |
| Largest segment | Waste heat recovery |
| 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, 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, MEA region accounted for 2.1% 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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Middle East & Africa 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 53.76% in 2023. Horizon Databook has segmented the Middle East & Africa organic rankine cycle market based on waste heat recovery, geothermal, solar thermal, oil & gas (gas pipeline pressure stations), waste to energy covering the revenue growth of each sub-segment from 2018 to 2030.
The region's ORC market has been majorly in South Africa and Kenya. None of these countries have implemented large-scale ORC-based projects in the region since 2022. The geothermal application segment dominates the market for ORC development in the region.
All three projects have been developed and deployed by ORMAT. Waste heat recovery is an emerging application segment in the region that is expected to have high potential. Only South Africa has a large-scale operational waste heat recovery project that utilizes industrial waste heat for power generation.
As per the International Energy Agency, countries such as Kenya and Ethiopia are expected to have an installed base of 932.16 and 178.5 MW of geothermal power projects by 2025. These factors will lead to the development of the geothermal application segment for the ORC market in the region in the forecast period.
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Horizon Databook provides a detailed overview of continent-level data and insights on the Middle East & Africa organic rankine cycle market , including forecasts for subscribers. This continent databook contains high-level insights into Middle East & Africa organic rankine cycle market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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Middle East & Africa organic rankine cycle market
Middle East & Africa Organic Rankine Cycle Market Outlook Share, 2023 & 2030 (US$M)
Middle East & Africa organic rankine cycle market
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