According to a research report titled ‘ORC Industrial Waste Heat to Power Market Size By Application (Oil & Gas, Cement, Glass, Steel & Metals, Others) Industry Analysis Report, Regional Outlook, Covid-19 Impact Analysis, Application Potential, Competitive Market Share & Forecast 2021 – 2027’, available with Market Study Report, ORC industrial waste heat to power market is touted to grow at a remarkable rate over the forecast period 2021-2027.
 

ORC industrial waste heat to power industry is primarily driven by stringent government norms for emission reduction, mounting demand for clean energy, and increasing focus towards enhancing energy efficiency of manufacturing plants.
 

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As cited by the report, the U.K. Government launched Industrial Heat Recovery Support (IHRS) program in 2018 to promote investments in heat recovery technologies. The initiative aimed to help firms in identifying and capitalizing on opportunities to reuse waste heat, which could help organizations in cutting emissions and reducing fuel costs.
 

For the record, most production plants routinely discharge waste heat into the environment which results in reduced energy efficiency of industrial processes. Organic Rankine Cycle (ORC) technology allows the utilization of high, medium, and low-temperature heat sources, thus providing compatibility and high flexibility to enable effective waste heat recovery.
 

Elaborating on the negatives, high initial investment costs are likely to impede market expansion in the upcoming years.
 

Based on application type, ORC industrial waste heat to power market is arrayed into oil & gas, steel & metal, cement, glass, and others. Among these, glass segment is slated to grow at a remarkable CAGR in the upcoming years, triggered by increasing government support, rising focus towards reutilizing industrial waste heat, and high energy demands of glass production processes with resultant waste heat generation.
 

Considering the geographical landscape, the key contributors to overall market revenue are North America (Canada, the United States), Europe (Turkey, Italy, Russia, Germany), Asia Pacific (Thailand, Brunei, China), and rest of the world.
 

Analysts cite that Middle East and Latin America regions are projected to be significant contributors to industry valuation, due to stringent emission control regulations imposed by governments for energy intensive industries in the region.
 

Major players profiled in the ORC industrial waste heat to power market report are TransPacific Energy Inc., Strebl Energy Pte Ltd., Aura GmbH & Co. KG, Turboden S.p.A., Kaishan Compressor USA LLC, Boustead International Heaters Ltd. (BIHL), Climeon AB, Dürr Systems AG, Exergy S.p.A., Ormat Technologies Inc., General Electric Company, Siemens AG, and IHI Corp.