Europe ORC Waste Heat to Power Market Size - By Power Output (≤ 1 Mwe, > 1 - 5 Mwe, > 5 - 10 Mwe, > 10 MWe), Country Outlook & Forecast, 2024 - 2032

Europe ORC Waste Heat to Power Market Size - By Power Output (≤ 1 Mwe, > 1 - 5 Mwe, > 5 - 10 Mwe, > 10 MWe), Country Outlook & Forecast, 2024 - 2032

Europe ORC Waste Heat to Power Market size is predicted to witness 16.3% CAGR from 2024 to 2032, driven by the combination of stringent environmental regulations, rising energy costs, and increasing industrial focus on energy efficiency and sustainability. European Union policies aimed at reducing greenhouse gas emissions and promoting renewable energy sources incentive the adoption of waste heat recovery technologies. The high cost of energy is encouraging industries to find cost-effective ways to enhance energy efficiency and reduce operational expenses.

The technological advancements in ORC systems, which improve efficiency and feasibility for various industrial applications, will also influence the market growth. The increasing awareness and commitment to sustainable practices among European industries along with the availability of government grants and subsidies for clean energy projects will help in driving the market growth in the region. For instance, in March 2022, Alfa Laval unveiled the E-PowerPack system for ships, using ORC technology to convert waste heat into electrical power to lower ship fuel consumption and reduce CO2 emissions by directly harnessing waste heat for electricity generation.

The overall industry is segmented into power output and country.

Europe ORC waste heat to power industry from the more than 1-5Mwe power output segment is set to witness notable growth during 2024-2032 due to its suitability for medium to large-scale industrial applications. These solutions address the energy recovery needs of diverse industries, such as manufacturing, chemical processing, and food & beverage, which generate substantial waste heat that can be effectively converted into electricity. The ability of ORC technology to efficiently harness lower temperature waste heat streams, coupled with advancements in turbine technology and heat ex-changers, also makes it increasingly viable and cost-effective for several applications.

Italy ORC waste heat to power market is anticipated to gain momentum through 2032 attributed to the industrial landscape and regulatory environment. The strong emphasis on renewable energy and sustainability, backed by supportive government policies and incentives, is encouraging industries to adopt ORC systems for waste heat recovery. The commitment to reducing carbon emissions and achieving energy efficiency targets under EU directives is further stimulating investments in technologies in the nation to convert industrial waste heat into valuable electricity.