Organic Rankine Cycle Market Regional Analysis:
North American Market Insights
The organic rankine cycle market in North America is projected to be the largest with a share of about 40% by the end of 2035. The growth of the market can be attributed majorly to the growing expansion of sustainable electrical networks will drive the region’s market growth. The Biden-Harris Administration unveiled new programs to link households to more reliable green energy, cut power costs by connecting them to solar power. Moreover, Washington DC and 5 states will also be supporting the Community Solar Subscription Platform that will aid the solar network scalability. Furthermore, the government’s goals to deploy a large-scale clean grid will also contribute to North America’s organic rankine cycle market growth. The Biden-Harris Administration has a goal of a 100% renewable electrical grid by 2035 and net-zero carbon emissions by 2050. For achieving the government invested USD 82 million to increase the solar energy capacity.
European Market Insights
The Europe ORC market is estimated to be the second largest, registering a share of about 18% by the end of 2035. The rising installation of ORC capacity will boost Europe’s market growth. In collaboration with the energy firm E.ON, AGC's float glass facility in Seingbouse (France) will receive a new ORC unit for residual heat recovery. This heat recovery system (ORC) produced a total of 14,557 MWh. Apart from this, the European organic rankine cycle (ORC) market is further influenced by advantageous laws as well as encouragement mechanisms for the expansion of renewable energy and energy efficiency initiatives in the region.
