Thailand Organic Rankine Cycle Market Size & Outlook
Thailand organic rankine cycle market, 2018-2030 (US$M)
Related Markets
Thailand organic rankine cycle market highlights
- The Thailand organic rankine cycle market generated a revenue of USD 8.7 million in 2023 and is expected to reach USD 14.1 million by 2030.
- The Thailand market is expected to grow at a CAGR of 7.1% from 2024 to 2030.
- In terms of segment, waste heat recovery was the largest revenue generating application in 2023.
- Biomass 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 8.7 million |
| Market revenue in 2030 | USD 14.1 million |
| Growth rate | 7.1% (CAGR from 2023 to 2030) |
| Largest segment | Waste heat recovery |
| Fastest growing segment | Biomass |
| Historical data | 2018 - 2022 |
| Base year | 2023 |
| Forecast period | 2024 - 2030 |
| Quantitative units | Revenue in USD million |
| Market segmentation | Waste Heat Recovery, Biomass |
| 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, Thailand accounted for 1.1% 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 |
|---|
Thailand 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 94.25% in 2023. Horizon Databook has segmented the Thailand organic rankine cycle market based on waste heat recovery, biomass covering the revenue growth of each sub-segment from 2018 to 2030.
The waste heat recovery segment dominates the ORC market in Thailand due to the installation of largescale projects in the recent past. For instance, in July 2023, Thailand-based Siam Cement Group (SCG) and U.S.-based Rondo Energy collaborated on a project to increase the production capacity of a heat battery storage unit at an SCG plant to 90 GWh per year, located in Thailand.
Upon completion, the facility is expected to surpass any existing heat battery-supported manufacturing facility in the world in terms of production capacity. This facility is projected to achieve carbon savings of up to 12 million tons per year.
Their objectives include highlighting the environmental benefits of waste heat recovery and the generation of eco-friendly power at AGC's Float Glass Plant in Samut Prakan, Thailand. Their plans are focused on consolidating their sustainability strategy, implementing tangible metrics, and presenting an integrated framework to expedite the reduction of carbon emissions.
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Horizon Databook provides a detailed overview of country-level data and insights on the Thailand organic rankine cycle market , including forecasts for subscribers. This country databook contains high-level insights into Thailand organic rankine cycle market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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Thailand organic rankine cycle market size, by application, 2018-2030 (US$M)
Thailand Organic Rankine Cycle Market Outlook Share, 2023 & 2030 (US$M)
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