Turkey Organic Rankine Cycle Market Size & Outlook

The organic rankine cycle market in Turkey is expected to reach a projected revenue of US$ 199.4 million by 2030. A compound annual growth rate of 3.5% is expected of Turkey organic rankine cycle market from 2024 to 2030.
Revenue, 2023 (US$M)
$156.7
Forecast, 2030 (US$M)
$199.4
CAGR, 2024 - 2030
3.5%
Report Coverage
Turkey

Turkey organic rankine cycle market highlights

  • The Turkey organic rankine cycle market generated a revenue of USD 156.7 million in 2023 and is expected to reach USD 199.4 million by 2030.
  • The Turkey market is expected to grow at a CAGR of 3.5% from 2024 to 2030.
  • In terms of segment, geothermal was the largest revenue generating application in 2023.
  • Oil & Gas (Gas pipeline pressure stations) is the most lucrative application segment registering the fastest growth during the forecast period.


Organic rankine cycle market data book summary

Market revenue in 2023USD 156.7 million
Market revenue in 2030USD 199.4 million
Growth rate3.5% (CAGR from 2023 to 2030)
Largest segmentGeothermal
Fastest growing segmentOil & Gas (Gas pipeline pressure stations)
Historical data2018 - 2022
Base year2023
Forecast period2024 - 2030
Quantitative unitsRevenue in USD million
Market segmentationWaste Heat Recovery, Biomass, Geothermal, Oil & Gas (Gas pipeline pressure stations), Waste to Energy
Key market players worldwideMitsubishi 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, Turkey accounted for 19.1% 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 Europe, Turkey organic rankine cycle market is projected to lead the regional market in terms of revenue in 2030.
  • Turkey is the fastest growing regional market in Europe and is projected to reach USD 199.4 million by 2030.

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Organic Rankine Cycle Market Companies

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Turkey 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 79.77% in 2023. Horizon Databook has segmented the Turkey organic rankine cycle market based on waste heat recovery, biomass, geothermal, oil & gas (gas pipeline pressure stations), waste to energy covering the revenue growth of each sub-segment from 2018 to 2030.


Turkey was the leading country in the ORC market in the European region in the past and is expected to continue its dominance further in the future. The abundant geothermal potential within the nation stands as the driving factor for the growth of the ORC market in the country.

For instance, the Turkey Waste Heat Potential Evaluation Project, which was carried out in the country in collaboration with the World Bank as a part of the Turkish National Energy Efficiency Action Plan under the Ministry of Energy and Natural Resources, concluded in July 2022.

Recovering this waste heat is expected to result in annual savings of USD 650 million and a carbon emission reduction equivalent to 10 metric tons per year that is comparable to the emissions from about 4 million vehicles annually.

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Horizon Databook provides a detailed overview of country-level data and insights on the Turkey organic rankine cycle market , including forecasts for subscribers. This country databook contains high-level insights into Turkey organic rankine cycle market from 2018 to 2030, including revenue numbers, major trends, and company profiles.

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Turkey organic rankine cycle market size, by application, 2018-2030 (US$M)

Turkey Organic Rankine Cycle Market Outlook Share, 2023 & 2030 (US$M)

Turkey organic rankine cycle market size, by application, 2018-2030 (US$M)

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