The market is Segmented by Design Type (Horizontal Drum and Vertical Drum), by Rated Power Type (0-30 MW, >30-50 MW, >50-100 MW, and >200 MW), by Mode of Operation Type (Cogeneration and Combined Cycle), by Application Type (Utilities, Commercial, Chemicals, and Refineries), and by Region (North America, Europe, Asia-Pacific, and Rest of the World)
The market is Segmented by Design Type (Horizontal Drum and Vertical Drum), by Rated Power Type (0-30 MW, >30-50 MW, >50-100 MW, and >200 MW), by Mode of Operation Type (Cogeneration and Combined Cycle), by Application Type (Utilities, Commercial, Chemicals, and Refineries), and by Region ...
The heat recovery steam generator market is estimated to grow from USD 1.37 billion in 2022 to USD 1.83 billion by 2028 at a CAGR of 4.76% during the forecast period.
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What is a heat recovery steam generator?
A heat recovery steam generator is an energy recovery heat exchanger used to recover heat from a hot gas stream such as a combustion turbine, or waste gas stream. The market is segmented by Design Type into the horizontal drum and vertical drum; by rated power into 0-30 MW, >30-50 MW, >50-100 MW, >200 MW; by mode of operation into cogeneration and combined cycle; and by application type into utilities, commercial, chemicals, and refineries.
The surge in utilization of cogeneration technology along with growing investment towards generation capacity expansion is likely to drive the market growth.
The market is segmented as utilities, commercial, chemicals, refineries, pulp & paper, and others. The utilities segment is projected to remain the largest segment of the market. Development of thermal power generating station along with increased focus towards sustainable energy sources is likely to drive the market growth.
By Design Type
The market is segmented into horizontal drums and vertical drums. The vertical drum design is projected to be the larger segmentwith a CAGR of nearly 5.8% of the market during the forecast period driven by ease of compatibility and lower capital expenditure. Continuous technological development along with healthy growth in combined cycle plants will drive the market for the horizontal drum segment.
By Region
Asia-Pacific is estimated to be the most lucrative market with a CAGR of more than 5.4% during the forecast period. The expanding industrial sector, rapid urbanization, significant economic development in the region, and increased focus on sustainable sources of energy are the major factors driving the growth of the Asia-Pacific market. North America and Europe are also expected to offer substantial growth opportunities during the forecast period.
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Segmentation
This report studies the market covering a period of 12 years of trend and forecast. The report provides detailed insights into the market dynamics to enable informed business decision making and growth strategy formulation based on the opportunities present in the market.
The market is segmented into the following categories.
By Design Type:
Horizontal Drum
Vertical Drum
By Rated Power Type:
0-30 MW
>30-50 MW
>50-100 MW
>100-200 MW
>200 MW
By Mode of Operation Type:
Cogeneration
Combined Cycle
By Application Type:
Utilities
Chemical
Refineries
Pulp & Paper
Others
By Region:
North America
Europe
Asia-Pacific
Rest of the World
Report Feature
This report provides market intelligence in the most comprehensive way. The report structure has been kept such that it offers maximum business value. It provides critical insights into the market dynamics and will enable strategic decision-making for the existing market players as well as those willing to enter the market.
What Deliverables Will You Get in this Report?
Key questions this report answers
Relevant contents in the report
How big is the sales opportunity?
In-depth analysis of the Heat Recovery Steam Generator Market
How lucrative is the future?
The market forecast and trend data and emerging trends
Which regions offer the best sales opportunities?
Global, regional, and country-level historical data and forecasts
Which are the most attractive market segments?
Market Segment Analysis and Forecast
What are the top players and their market positioning?
Porter’s five forces analysis, PEST analysis, Life cycle analysis
What are the factors affecting the market?
Drivers & challenges
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10% free customization
Research Methodology
This report offers high-quality insights and is the outcome of a detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders, and validation and triangulation with Stratview Research’s internal database and statistical tools.
More than 1,000 authenticated secondary sources, such as company annual reports, fact books, press releases, journals, investor presentations, white papers, patents, and articles have been leveraged to gather the data.
We conducted more than 10 detailed primary interviews with the market players across the value chain in all four regions and with industry experts to obtain both qualitative and quantitative insights.
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Company Profiling
Detailed profiling of additional market players (up to 3 players)
SWOT analysis of key players (up to 3 players)
Market Segmentation
Current market segmentation by any one of the design types by rated power type.
Competitive Benchmarking
Benchmarking of key players on the following parameters: Product portfolio, geographical reach, regional presence, and strategic alliances
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A heat recovery steam generator is an energy recovery heat exchanger used to recover heat from a hot gas stream such as a combustion turbine, or waste gas stream. The market is segmented by Design Type into the horizontal drum and vertical drum; by rated power into 0-30 MW, >30-50 MW, >50-100 MW, >200 MW; by mode of operation into cogeneration and combined cycle; and by application type into utilities, commercial, chemicals, and refineries.
The surge in utilization towards cogeneration technology along with growing investment towards generation capacity expansion is the factor driving the growth of the market.
John Wood, Kawasaki, B&W, Larsen & Turbo, BHEL, Cleaver-Brooks, Clayton, John Cockerill, Mitsubishi, GE, Siemens, AC Boilers, Rentech, Thermax, Kelvion, and Hamon are among the key players in the market.
