North America Organic Rankine Cycle Market Size & Outlook
North America organic rankine cycle market, 2018-2030 (US$M)
Related Markets
North America organic rankine cycle market highlights
- The North America organic rankine cycle market generated a revenue of USD 335.7 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.
- Waste to Energy is the most lucrative application segment registering the fastest growth during the forecast period.
- Country-wise, Canada is expected to register the highest CAGR from 2024 to 2030.
North America data book summary
| Market revenue in 2023 | USD 335.7 million |
| Market revenue in 2030 | USD 420.2 million |
| Growth rate | 3.3% (CAGR from 2023 to 2030) |
| Largest segment | Geothermal |
| Fastest growing segment | Waste to Energy |
| 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, North America region accounted for 40.9% 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 |
|---|
North 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 68.81% in 2023. Horizon Databook has segmented the North America 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.
The U.S. dominated the North American ORC market, owing to its substantial geothermal potential. Additionally, the country has consistently pursued proactive measures to promote utilizing this geothermal potential for power generation applications over an extended period.
For instance, in May 2023, Clean Energy Technologies (CETY) which specializes in the development and implementation of clean energy solutions and services, including clean energy fuels, alternative electric power, and eco-friendly green energy solutions for small and medium-sized projects across Europe, North America, and Asia Pacific, has recently revealed that its wholly-owned subsidiary, Clean Energy Technologies (H.K.) Limited (CETY HK) and its other subsidiaries have entered into a framework agreement with a mission to accelerate the construction of energy infrastructure projects in China with SCEI Distributed Energy Systems Co., Ltd.
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Horizon Databook provides a detailed overview of continent-level data and insights on the North America organic rankine cycle market , including forecasts for subscribers. This continent databook contains high-level insights into North America organic rankine cycle market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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North America organic rankine cycle market size, by country, 2018-2030 (US$M)
North America Organic Rankine Cycle Market Outlook Share, 2023 & 2030 (US$M)
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