Canada Organic Rankine Cycle Market

Canada Organic Rankine Cycle Market Insights Forecasts to 2035

• The Canada Organic Rankine Cycle Market Was Estimated at USD 47.7 Million in 2024.
• The Market Size is Growing at a CAGR of 1.39% between 2025 and 2035.
• The Canada Organic Rankine Cycle market is Anticipated to Reach USD 55.5 Million by 2035.

According to a research report published by Decision Advisior & Consulting, the Canada organic rankine cycle market is anticipated to hold USD 55.5 Million by 2035, growing at a CAGR of 1.39% from 2025 to 2035. Canada’s organic rankine cycle market offers growth opportunities from increasing renewable energy adoption, waste heat recovery in industries, rising energy efficiency initiatives, government incentives, and expanding deployment in geothermal, biomass, and solar power projects.

Market Overview

The Canada organic rankine cycle (ORC) market refers to the production and deployment of ORC systems that convert low- to medium-temperature heat sources into electricity using organic fluids. These systems are widely used for waste heat recovery in industrial processes, geothermal energy, biomass, and solar thermal applications. ORC technology provides high efficiency, environmental benefits, and cost-effective renewable energy solutions, making it increasingly attractive for both industrial and utility-scale projects. The market is driven by Canada’s focus on energy efficiency, decarbonization, and sustainable power generation. Government incentives, technological advancements in ORC components, and rising demand for clean electricity further support market expansion. The sector is poised for significant growth as industries and utilities seek reliable, low-carbon energy solutions.

Report Coverage

This research report categorizes the market for the Canada organic rankine cycle market based on various segments and regions and forecasts revenue growth and analyzes trends in each submarket. The report analyses the key growth drivers, opportunities, and challenges influencing the Canada organic rankine cycle market. Recent market developments and competitive strategies such as expansion, product launch, and development, partnership, merger, and acquisition have been included to draw the competitive landscape in the market. The report strategically identifies and profiles the key market players and analyses their core competencies in each sub-segment of the Canada organic rankine cycle market.

Driving Factors

Waste heat recovery, renewable adoption, efficiency, government incentives, emission reduction.

The Canada organic rankine cycle (ORC) market is driven by increasing demand for energy-efficient and renewable power generation solutions. Rising industrial waste heat recovery initiatives, growing geothermal and biomass energy projects, and government incentives for clean energy adoption enhance market growth. Technological advancements in ORC systems, including higher efficiency and reliability, support broader deployment. Additionally, Canada’s focus on reducing carbon emissions and meeting sustainability goals encourages industries and utilities to adopt ORC technology, creating significant growth opportunities across multiple sectors.

Restraining Factors

 High costs, technical complexity, limited expertise, competition, site feasibility challenges.

The Canada organic rankine cycle (ORC) market faces restraints due to high initial capital costs and complex installation requirements, which can limit adoption, especially for small- and medium-scale industries. Limited awareness and technical expertise in operating and maintaining ORC systems further hinder growth. Competition from conventional power generation and alternative energy storage technologies, along with site-specific feasibility challenges, can delay projects.

Opportunities

 Waste heat recovery, geothermal, biomass, solar projects, efficiency improvements, incentives.

The Canada organic rankine cycle (ORC) market presents significant opportunities through the increasing focus on industrial waste heat recovery, geothermal, biomass, and solar thermal projects. Growing government incentives for renewable energy adoption and carbon emission reduction support market expansion. Technological advancements improving ORC efficiency, reliability, and scalability enable broader deployment across industrial and utility sectors. Additionally, rising corporate sustainability initiatives and demand for decentralized, low-carbon power solutions create avenues for new projects, partnerships, and long-term growth in the Canadian ORC market.

Market Segmentation

The Canada organic rankine cycle market share is classified into type and application.

• The 1MW segment held a significant share in 2024 and is expected to grow at a significant CAGR during the forecast period.

The Canada organic rankine cycle market is segmented by type into 500KW, 1MW, 5MW, 10MW, and others. Among these, the 1MW segment held a significant share in 2024 and is expected to grow at a significant CAGR during the forecast period. This segment is favored due to its optimal balance between capital cost and power output, making it suitable for industrial waste heat recovery, small-scale geothermal, biomass, and distributed renewable energy projects. Growing demand for mid-sized, efficient, and scalable ORC systems across various applications supports its continued growth in the Canadian market.   

• The waste heat recovery segment held a significant share in 2024 and is expected to grow at a significant CAGR during the forecast period.

The Canada organic rankine cycle market is segmented by application into waste heat recovery, biomass, geothermal, solar thermal, and others. Among these, the waste heat recovery segment held a significant share in 2024 and is expected to grow at a significant CAGR during the forecast period. This is driven by increasing industrial energy efficiency initiatives, the need to reduce operational costs, and rising adoption of ORC systems to capture and convert low- to medium-temperature waste heat into electricity. Industries such as manufacturing, cement, and steel increasingly deploy ORC technology, supporting sustained growth in this segment.

Competitive Analysis:

The report offers the appropriate analysis of the key organizations/companies involved within the Canada organic rankine cycle market along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market.

List of Key Companies

• Tasman Resources Ltd
• Energous Corp
• Trigano SA
• Thor Industries Inc
• Atlas Copco AB ADR
• Mitsubishi Heavy Industries Ltd
• ABB Ltd

Key Target Audience

• Market Players
• Investors
• End-users
• Government Authorities 
• Consulting and Research Firm
• Venture capitalists
• Value-Added Resellers (VARs)

Market Segment

This study forecasts revenue at Europe, regional, and country levels from 2020 to 2035. Decision Advisior has segmented the Canada organic rankine cycle market based on the following segments:

Canada Organic Rankine Cycle Market, By Type

• 500KW
• 1MW
• 5MW
• 10MW
• Others

Canada Organic Rankine Cycle Market, By Application

• Waste Heat Recovery
• Biomass
• Geothermal
• Solar Thermal
• Others

FAQ’s

Q: What is the Canada organic rankine cycle market size?

A: Canada organic rankine cycle market size is expected to grow from USD 47.7 Million in 2024 to USD 55.5 Million by 2035, growing at a CAGR of 1.39% during the forecast period 2025-2035. 

Q: What are the key growth drivers of the market?

A: The Canada organic rankine cycle (ORC) market is driven by increasing demand for energy-efficient and renewable power generation solutions.

Q: What factors restrain the Canada organic rankine cycle market?

A: The Canada organic rankine cycle (ORC) market faces restraints due to high initial capital costs and complex installation requirements, which can limit adoption, especially for small- and medium-scale industries.

Q: How is the market segmented by type?

A: The market is segmented into type into 500KW, 1MW, 5MW, 10MW, and others.

Q: Who are the key players in the Canada organic rankine cycle market?

A: Key companies include Tasman Resources Ltd, Energous Corp, Trigano SA, Thor Industries Inc, Atlas Copco AB ADR, Mitsubishi Heavy Industries Ltd, and ABB Ltd.

Q: Who are the target audiences for this market report?

A: The report targets market players, investors, end-users, government authorities, consulting and research firms, venture capitalists, and value-added resellers (VARs).