The Global Heat Recovery Steam Generator Market was valued over 1.5 billion in 2017 and is expected to witness an annual growth rate of over 7%by 2025. The increasing adoption of cogeneration technology along with the growing investment towards generation capacity expansion will spark the market growth. In addition, as per U.S. Energy Information Administration, the offering of coal in the total U.S. energy consumption in 2018 declined by 4% compared to 2017. Moreover, the rapid expansion of industrial sector with shifting trend against non-conventional energy adoption will positively influence the industry growth.

Global Heat Recovery Steam Generator Market Size, Share Analysis, By Region 2017

This global market study report analysis offers in-depth insights, revenue details, and other vital information regarding the global heat recovery steam generator market, and the various trends, drivers, restraints, opportunities, and threats in the target market till 2025. The report offers insightful and detailed information regarding the various key players operating in the market, their financials, supply chain trends, technological innovations, key developments, apart from future strategies, acquisitions & mergers, and market footprint. The global heat recovery steam generator market report has been segmented on the basis of type, application, and region. It includes the estimation of the market size, in terms of value, with respect to 4 main geographies, namely, North America, Europe, APAC, and RoW.   

Segment Analysis

By Design Analysis: The horizontal drum segment of global heat recovery steam generator market will witness growth on the segment for their ease of compatibility and lower capital expenditure. This system contains horizontal exhaust gas fans with heat exchanger tube bundlers formed vertically. However, continuous technological advancement along with vigorous growth in combined cycle plants will boost the industry. 

The swift development of commercial sector and industries including food processing, textile plants, chemical processing plants, and refines will boost the vertical heat recovery steam generator industry.

By Rated Power: 0 MW – 30 MW capacity heat recovery steam generator industry will outperform the  growth on account of ongoing expansion of cogenerating units to sustain energy & heat consumption across small industrial, commercial and isolated grid networks. Also, usual advancements with respect to the development of effectively combined plants to resist low heat requirements across various formations will increase the product demand.

The continuing implementation of distributed technologies across statics energy generation application will boost the >200 MV heat recovery steam generator market growth.

By Mode of Operation: The cogeneration segment of heat recovery steam generator industry is expected to rise at a higher rate of CAGR by 2025. This technology is widely used with cogeneration applications in the U.S and European countries due to the increasing influence of gas-fired technology. Also, high reliability, low emissions, and high-grade heat available are some of the major factors impacting the industry growth.

Combined cycle plants will witness growth due to its effective design, easy configuration and high efficiency in comparison with other substitute. This plant generates electricity and heat energy in one cycle enabling more efficient energy management. . Also increasing efforts toward limiting carbon emissions connected with shift toward energy efficient power generating technologies will drive the global market growth.

By Application Analysis: The increasing development of thermal power generating stations with shifting trend toward the adoption of sustainable energy resources will boost the market. The addition of stringent regulatory benchmark concludes in an improvement in utilization of combined cycle plants, will boost the product utilization.

Increasing improvement across the O&G industry post-oil price decline, primarily across the Middle East & Asia Pacific will bounce the demand for HSRG systems. Also, the perceiving refinery and petrochemical plant expansion projects due to increased demands for hydrocarbon products will boost the heat recovery steam generator market growth.

Regional Analysis

The global heat recovery steam generator market is divided into regions that are North America - U.S, Canada, Other; Asia-Pacific -India, Japan, China, Australia, Other; Europe - UK, Russia, France, Brazil, Other; Middle East and Africa. Every region analysis details in sense of growth, revenue, volume, challenges, and opportunities with the regional and global key players. North America, U.S. market dominates the global heat recovery steam generator market. Increasing focus towards combined cycle power plant capacity added along with the increasing needs to replace by developing coal-fired power plants to ease the emission have substantially extend the installation of HRSGs. Federal and state incentives & policies, lower energy operating costs, CHP-friendly regulations and utility support are some of the crucial factors which will boost  the industry growth.

Further thermal capacity additives and growing industrial sector with specific viewpoint towards combined cycle energy adoption will stimulate the China’s heat recovery steam generator market growth. Growing investments towards modernization of framework by investing across distributed energy sources along with advanced combined cycle plants will stimulate the industry growth.

Global Heat Recovery Steam Generator Market Study Objective

1. To forecast the market size of heat recovery steam generator market, along with describing and defining the market, in terms of volume and revenue as well as market opportunities for stakeholders, in order to provide a competitive landscape for global market players.

2. Market analysis and forecast of heat recovery steam generator market on the basis of region, substrate and application or end-use industry. To profile major market players, and to analyze their market shares and essential competencies comprehensively.

3. To analyze and elaborate significant factors that will have major impact on the growth of heat recovery steam generator market, such as drivers, restraints, challenges and opportunities.

4. Regional analysis of heat recovery steam generator market, to induce market size of five global major regions, which include, Europe, North America, South America, Middle East & Africa and Asia Pacific.

5. Strategic analysis of micromarkets, in terms of individual prospects, opportunities, growth trends and their involvement in overall market.

6. To provide detailed analysis of competitive and strategic developments in the heat recovery steam generator market like new product launch, partnership & agreement, investment & expansion, and company merger & acquisitions.

Key Players

The major key marketers of global heat recovery steam generator markets are Kawasaki, B&W, Larsen & Turbo, BHEL, Cleaver-Brooks, Clayton, John Cockerill, Mitsubishi, GE, Siemens, AC Boilers, Rentech, Eminent industry players operating across the heat recovery steam generator market includes John Wood, Thermax, Kelvion, Hamon

Global Heat Recovery Steam Generator Market Study Report Offer You!

The global market study report gives an idea about market size, share, stock, equity, investment and total price analysis. Also, the report provides comprehensively industry insights with all major factors such as market credit, allocation, demand, distribution, market scope, key players, end user & applications, provisions, livestock, commodities and industry economics analysis, future growth & forecast. The global market report includes all depth data like pre-market emphasis, market survey, market investment, industry advice, portfolio, finance, access, trade, market exploration, industry review and market predication & projection to develop effective strategies for optimizing their market position.