The global heat recovery steam generator (HRSG) market is expected to grow at a CAGR of 4.5% during the forecast period, to reach USD 3.2 billion by 2030. The growth of the market can be attributed to the increasing demand for power generation and heating applications in emerging economies such as India and China, which are witnessing rapid economic growth.
The vertical HRSG segment is expected to dominate the global HRSG market during the forecast period, due to its higher efficiency and lower cost compared with horizontal HRSGs. The vertical segment accounted for over 50% of total revenue in 2017, owing to its high demand from power generation applications in emerging economies such as India and China.
Some Of The Growth Factors Of This Market:
- Increasing demand for power generation and increasing need for energy efficiency are the major drivers of the HRSG market.
- Increasing demand for renewable energy sources such as solar and wind power is also driving the growth of the HRSG market.
- The increasing use of natural gas in power generation is also driving the growth of this market.
- The high cost associated with installation and maintenance are restraining factors in this market.
Industry Growth Insights published a new data on “Heat Recovery Steam Generator (HRSG) Market”. The research report is titled “Heat Recovery Steam Generator (HRSG) Market research by Types (Vertical, Horizontal), By Applications (Power Generation, Heating, Desalination, Others), By Players/Companies BHI, Foster Wheeler, Nooter Eriksen, CMI Energy, Alstom Power, Doosan E&C, Siemens (NEM Energy), VOGT Power, STF, Babcock & Wilcox, Mitsubishi, Hangzhou Boiler, 703 Institute, Wuxi Huaguang”.
Scope Of The Report
Report Attributes
Report Details
Report Title
Heat Recovery Steam Generator (HRSG) Market Research Report
By Type
Vertical, Horizontal
By Application
Power Generation, Heating, Desalination, Others
By Companies
BHI, Foster Wheeler, Nooter Eriksen, CMI Energy, Alstom Power, Doosan E&C, Siemens (NEM Energy), VOGT Power, STF, Babcock & Wilcox, Mitsubishi, Hangzhou Boiler, 703 Institute, Wuxi Huaguang
Regions Covered
North America, Europe, APAC, Latin America, MEA
Base Year
2021
Historical Year
2019 to 2020 (Data from 2010 can be provided as per availability)
Forecast Year
2030
Number of Pages
230
Number of Tables & Figures
161
Customization Available
Yes, the report can be customized as per your need.
 Industry Outlook.svg)
Global Heat Recovery Steam Generator (HRSG) Market Report Segments:
The global Heat Recovery Steam Generator (HRSG) market is segmented on the basis of:
Types
Vertical, Horizontal
The product segment provides information about the market share of each product and the respective CAGR during the forecast period. It lays out information about the product pricing parameters, trends, and profits that provides in-depth insights of the market. Furthermore, it discusses latest product developments & innovation in the market.
Applications
Power Generation, Heating, Desalination, Others
The application segment fragments various applications of the product and provides information on the market share and growth rate of each application segment. It discusses the potential future applications of the products and driving and restraining factors of each application segment.
Some of the companies that are profiled in this report are:
- BHI
- Foster Wheeler
- Nooter Eriksen
- CMI Energy
- Alstom Power
- Doosan E&C
- Siemens (NEM Energy)
- VOGT Power
- STF
- Babcock & Wilcox
- Mitsubishi
- Hangzhou Boiler
- 703 Institute
- Wuxi Huaguang
 Market Overview.svg)
Highlights of The Heat Recovery Steam Generator (HRSG) Market Report:
- The market structure and projections for the coming years.
- Drivers, restraints, opportunities, and current trends of market.
- Historical data and forecast.
- Estimations for the forecast period 2030.
- Developments and trends in the market.
- By Type:
- Vertical
- Horizontal
- By Application:
- Power Generation
- Heating
- Desalination
- Others
- Market scenario by region, sub-region, and country.
- Market share of the market players, company profiles, product specifications, SWOT analysis, and competitive landscape.
- Analysis regarding upstream raw materials, downstream demand, and current market dynamics.
- Government Policies, Macro & Micro economic factors are also included in the report.
We have studied the Heat Recovery Steam Generator (HRSG) Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2030.
Regional Analysis
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- Latin America
Note: A country of choice can be added in the report at no extra cost. If more than one country needs to be added, the research quote will vary accordingly.
The geographical analysis part of the report provides information about the product sales in terms of volume and revenue in regions. It lays out potential opportunities for the new entrants, emerging players, and major players in the region. The regional analysis is done after considering the socio-economic factors and government regulations of the countries in the regions.
How you may use our products:
- Correctly Positioning New Products
- Market Entry Strategies
- Business Expansion Strategies
- Consumer Insights
- Understanding Competition Scenario
- Product & Brand Management
- Channel & Customer Management
- Identifying Appropriate Advertising Appeals
 Market Statistics.svg)
8 Reasons to Buy This Report
- Includes a Chapter on the Impact of COVID-19 Pandemic On the Market
- Report Prepared After Conducting Interviews with Industry Experts & Top Designates of the Companies in the Market
- Implemented Robust Methodology to Prepare the Report
- Includes Graphs, Statistics, Flowcharts, and Infographics to Save Time
- Industry Growth Insights Provides 24/5 Assistance Regarding the Doubts in the Report
- Provides Information About the Top-winning Strategies Implemented by Industry Players.
- In-depth Insights On the Market Drivers, Restraints, Opportunities, and Threats
- Customization of the Report Available
Frequently Asked Questions?
A Heat Recovery Steam Generator (HRSG) is a type of steam generator that recovers heat from the exhaust gases from a boiler to generate steam. This steam is then used to power various industrial processes, such as manufacturing and processing.
Some of the key players operating in the heat recovery steam generator (hrsg) market are BHI, Foster Wheeler, Nooter Eriksen, CMI Energy, Alstom Power, Doosan E&C, Siemens (NEM Energy), VOGT Power, STF, Babcock & Wilcox, Mitsubishi, Hangzhou Boiler, 703 Institute, Wuxi Huaguang.
The heat recovery steam generator (hrsg) market is expected to register a CAGR of 4.5%.
1. Executive Summary
2. Assumptions and Acronyms Used
3. Research Methodology
4. Heat Recovery Steam Generator (HRSG) Market Overview
4.1. Introduction
4.1.1. Market Taxonomy
4.1.2. Market Definition
4.2. Macro-Economic Factors
4.2.1. Industry Outlook
4.3. Heat Recovery Steam Generator (HRSG) Market Dynamics
4.3.1. Market Drivers
4.3.2. Market Restraints
4.3.3. Opportunity
4.3.4. Market Trends
4.4. Heat Recovery Steam Generator (HRSG) Market - Supply Chain
4.5. Global Heat Recovery Steam Generator (HRSG) Market Forecast
4.5.1. Heat Recovery Steam Generator (HRSG) Market Size (US$ Mn) and Y-o-Y Growth
4.5.2. Heat Recovery Steam Generator (HRSG) Market Size (000 Units) and Y-o-Y Growth
4.5.3. Heat Recovery Steam Generator (HRSG) Market Absolute $ Opportunity
5. Global Heat Recovery Steam Generator (HRSG) Market Analysis and Forecast by Type
5.1. Market Trends
5.2. Introduction
5.2.1. Basis Point Share (BPS) Analysis by Type
5.2.2. Y-o-Y Growth Projections by Type
5.3. Heat Recovery Steam Generator (HRSG) Market Size and Volume Forecast by Type
5.3.1. Vertical
5.3.2. Horizontal
5.4. Absolute $ Opportunity Assessment by Type
5.5. Market Attractiveness/Growth Potential Analysis by Type
6. Global Heat Recovery Steam Generator (HRSG) Market Analysis and Forecast by Application
6.1. Market Trends
6.2. Introduction
6.2.1. Basis Point Share (BPS) Analysis by Application
6.2.2. Y-o-Y Growth Projections by Application
6.3. Heat Recovery Steam Generator (HRSG) Market Size and Volume Forecast by Application
6.3.1. Power Generation
6.3.2. Heating
6.3.3. Desalination
6.3.4. Others
6.4. Absolute $ Opportunity Assessment by Application
6.5. Market Attractiveness/Growth Potential Analysis by Application
7. Global Heat Recovery Steam Generator (HRSG) Market Analysis and Forecast by Sales Channel
7.1. Market Trends
7.2. Introduction
7.2.1. Basis Point Share (BPS) Analysis by Sales Channel
7.2.2. Y-o-Y Growth Projections by Sales Channel
7.3. Heat Recovery Steam Generator (HRSG) Market Size and Volume Forecast by Sales Channel
7.3.1. Manufacturer/Distributor/Service Provider
7.3.2. Aftermarket
7.4. Absolute $ Opportunity Assessment by Sales Channel
7.5. Market Attractiveness/Growth Potential Analysis by Sales Channel
8. Global Heat Recovery Steam Generator (HRSG) Market Analysis and Forecast by Region
8.1. Market Trends
8.2. Introduction
8.2.1. Basis Point Share (BPS) Analysis by Region
8.2.2. Y-o-Y Growth Projections by Region
8.3. Heat Recovery Steam Generator (HRSG) Market Size and Volume Forecast by Region
8.3.1. North America
8.3.2. Latin America
8.3.3. Europe
8.3.4. Asia Pacific
8.3.5. Middle East and Africa (MEA)
8.4. Absolute $ Opportunity Assessment by Region
8.5. Market Attractiveness/Growth Potential Analysis by Region
8.6. Global Heat Recovery Steam Generator (HRSG) Demand Share Forecast, 2019-2026
9. North America Heat Recovery Steam Generator (HRSG) Market Analysis and Forecast
9.1. Introduction
9.1.1. Basis Point Share (BPS) Analysis by Country
9.1.2. Y-o-Y Growth Projections by Country
9.2. North America Heat Recovery Steam Generator (HRSG) Market Size and Volume Forecast by Country
9.2.1. U.S.
9.2.2. Canada
9.3. Absolute $ Opportunity Assessment by Country
9.4. North America Heat Recovery Steam Generator (HRSG) Market Size and Volume Forecast by Application
9.4.1. Power Generation
9.4.2. Heating
9.4.3. Desalination
9.4.4. Others
9.5. Basis Point Share (BPS) Analysis by Application
9.6. Y-o-Y Growth Projections by Application
9.7. North America Heat Recovery Steam Generator (HRSG) Market Size and Volume Forecast by Type
9.7.1. Vertical
9.7.2. Horizontal
9.8. Basis Point Share (BPS) Analysis by Type
9.9. Y-o-Y Growth Projections by Type
9.10. Market Attractiveness/Growth Potential Analysis
9.10.1. By Country
9.10.2. By Product Type
9.10.3. By Application
9.10.4. By Sales Channel
9.11. North America Heat Recovery Steam Generator (HRSG) Demand Share Forecast, 2019-2026
10. Latin America Heat Recovery Steam Generator (HRSG) Market Analysis and Forecast
10.1. Introduction
10.1.1. Basis Point Share (BPS) Analysis by Country
10.1.2. Y-o-Y Growth Projections by Country
10.1.3. Latin America Average Pricing Analysis
10.2. Latin America Heat Recovery Steam Generator (HRSG) Market Size and Volume Forecast by Country
10.2.1. Brazil
10.2.2. Mexico
10.2.3. Rest of Latin America
10.3. Absolute $ Opportunity Assessment by Country
10.4. Latin America Heat Recovery Steam Generator (HRSG) Market Size and Volume Forecast by Application
10.4.1. Power Generation
10.4.2. Heating
10.4.3. Desalination
10.4.4. Others
10.5. Basis Point Share (BPS) Analysis by Application
10.6. Y-o-Y Growth Projections by Application
10.7. Latin America Heat Recovery Steam Generator (HRSG) Market Size and Volume Forecast by Type
10.7.1. Vertical
10.7.2. Horizontal
10.8. Basis Point Share (BPS) Analysis by Type
10.9. Y-o-Y Growth Projections by Type
10.10. Market Attractiveness/Growth Potential Analysis
10.10.1. By Country
10.10.2. By Product Type
10.10.3. By Application
10.10.4. By Sales Channel
10.11. Latin America Heat Recovery Steam Generator (HRSG) Demand Share Forecast, 2019-2026
11. Europe Heat Recovery Steam Generator (HRSG) Market Analysis and Forecast
11.1. Introduction
11.1.1. Basis Point Share (BPS) Analysis by Country
11.1.2. Y-o-Y Growth Projections by Country
11.1.3. Europe Average Pricing Analysis
11.2. Europe Heat Recovery Steam Generator (HRSG) Market Size and Volume Forecast by Country
11.2.1. Germany
11.2.2. France
11.2.3. Italy
11.2.4. U.K.
11.2.5. Spain
11.2.6. Russia
11.2.7. Rest of Europe
11.3. Absolute $ Opportunity Assessment by Country
11.4. Europe Heat Recovery Steam Generator (HRSG) Market Size and Volume Forecast by Application
11.4.1. Power Generation
11.4.2. Heating
11.4.3. Desalination
11.4.4. Others
11.5. Basis Point Share (BPS) Analysis by Application
11.6. Y-o-Y Growth Projections by Application
11.7. Europe Heat Recovery Steam Generator (HRSG) Market Size and Volume Forecast by Type
11.7.1. ertical
11.7.2. Horizontal
11.8. Basis Point Share (BPS) Analysis by Type
11.9. Y-o-Y Growth Projections by Type
11.10. Market Attractiveness/Growth Potential Analysis
11.10.1. By Country
11.10.2. By Product Type
11.10.3. By Application
11.10.4. By Sales Channel
11.11. Europe Heat Recovery Steam Generator (HRSG) Demand Share, 2019-2026
12. Asia Pacific Heat Recovery Steam Generator (HRSG) Market Analysis and Forecast
12.1. Introduction
12.1.1. Basis Point Share (BPS) Analysis by Country
12.1.2. Y-o-Y Growth Projections by Country
12.1.3. Asia Pacific Average Pricing Analysis
12.2. Asia Pacific Heat Recovery Steam Generator (HRSG) Market Size and Volume Forecast by Country
12.2.1. China
12.2.2. Japan
12.2.3. South Korea
12.2.4. India
12.2.5. Australia
12.2.6. Rest of Asia Pacific (APAC)
12.3. Absolute $ Opportunity Assessment by Country
12.4. Asia Pacific Heat Recovery Steam Generator (HRSG) Market Size and Volume Forecast by Application
12.4.1. Power Generation
12.4.2. Heating
12.4.3. Desalination
12.4.4. Others
12.5. Basis Point Share (BPS) Analysis by Application
12.6. Y-o-Y Growth Projections by Application
12.7. Asia Pacific Heat Recovery Steam Generator (HRSG) Market Size and Volume Forecast by Type
12.7.1. Vertical
12.7.2. Horizontal
12.8. Basis Point Share (BPS) Analysis by Type
12.9. Y-o-Y Growth Projections by Type
12.10. Market Attractiveness/Growth Potential Analysis
12.10.1. By Country
12.10.2. By Product Type
12.10.3. By Application
12.10.4. By Sales Channel
12.11. Asia Pacific Heat Recovery Steam Generator (HRSG) Demand Share, 2019-2026
13. Middle East & Africa Heat Recovery Steam Generator (HRSG) Market Analysis and Forecast
13.1. Introduction
13.1.1. Basis Point Share (BPS) Analysis by Country
13.1.2. Y-o-Y Growth Projections by Country
13.1.3. Asia Pacific Average Pricing Analysis
13.2. Middle East & Africa Heat Recovery Steam Generator (HRSG) Market Size and Volume Forecast by Country
13.2.1. Saudi Arabia
13.2.2. South Africa
13.2.3. UAE
13.2.4. Rest of Middle East & Africa (MEA)
13.3. Absolute $ Opportunity Assessment by Country
13.4. Middle East & Africa Heat Recovery Steam Generator (HRSG) Market Size and Volume Forecast by Application
13.4.1. Power Generation
13.4.2. Heating
13.4.3. Desalination
13.4.4. Others
13.5. Basis Point Share (BPS) Analysis by Application
13.6. Y-o-Y Growth Projections by Application
13.7. Middle East & Africa Heat Recovery Steam Generator (HRSG) Market Size and Volume Forecast by Type
13.7.1. Vertical
13.7.2. Horizontal
13.8. Basis Point Share (BPS) Analysis by Type
13.9. Y-o-Y Growth Projections by Type
13.10. Market Attractiveness/Growth Potential Analysis
13.10.1. By Country
13.10.2. By Product Type
13.10.3. By Application
13.10.4. By Sales Channel
13.11. Middle East & Africa Heat Recovery Steam Generator (HRSG) Demand Share, 2019-2026
14. Competition Landscape
14.1. Global Heat Recovery Steam Generator (HRSG) Market: Market Share Analysis
14.2. Heat Recovery Steam Generator (HRSG) Distributors and Customers
14.3. Heat Recovery Steam Generator (HRSG) Market: Competitive Dashboard
14.4. Company Profiles (Details Overview, Financials, Developments, Strategy)
14.4.1. BHI
14.4.1.1. Overview
14.4.1.2. Financials
14.4.1.3. Developments
14.4.1.4. Strategic Outlook
14.4.2. Foster Wheeler
14.4.2.1. Overview
14.4.2.2. Financials
14.4.2.3. Developments
14.4.2.4. Strategic Outlook
14.4.3. Nooter Eriksen
14.4.3.1. Overview
14.4.3.2. Financials
14.4.3.3. Developments
14.4.3.4. Strategic Outlook
14.4.4. CMI Energy
14.4.4.1. Overview
14.4.4.2. Financials
14.4.4.3. Developments
14.4.4.4. Strategic Outlook
14.4.5. Alstom Power
14.4.5.1. Overview
14.4.5.2. Financials
14.4.5.3. Developments
14.4.5.4. Strategic Outlook
14.4.6. Doosan E&C
14.4.6.1. Overview
14.4.6.2. Financials
14.4.6.3. Developments
14.4.6.4. Strategic Outlook
14.4.7. Siemens (NEM Energy)
14.4.7.1. Overview
14.4.7.2. Financials
14.4.7.3. Developments
14.4.7.4. Strategic Outlook
14.4.8. VOGT Power
14.4.8.1. Overview
14.4.8.2. Financials
14.4.8.3. Developments
14.4.8.4. Strategic Outlook
14.4.9. STF
14.4.9.1. Overview
14.4.9.2. Financials
14.4.9.3. Developments
14.4.9.4. Strategic Outlook
14.4.10. Babcock & Wilcox
14.4.10.1. Overview
14.4.10.2. Financials
14.4.10.3. Developments
14.4.10.4. Strategic Outlook
14.4.11. Mitsubishi
14.4.11.1. Overview
14.4.11.2. Financials
14.4.11.3. Developments
14.4.11.4. Strategic Outlook
14.4.12. Hangzhou Boiler
14.4.12.1. Overview
14.4.12.2. Financials
14.4.12.3. Developments
14.4.12.4. Strategic Outlook
14.4.13. 703 Institute
14.4.13.1. Overview
14.4.13.2. Financials
14.4.13.3. Developments
14.4.13.4. Strategic Outlook
14.4.14. Wuxi Huaguang
14.4.14.1. Overview
14.4.14.2. Financials
14.4.14.3. Developments
14.4.14.4. Strategic Outlook
14.4.15. COMPANY 15
14.4.15.1. Overview
14.4.15.2. Financials
14.4.15.3. Developments
14.4.15.4. Strategic Outlook
14.4.16. COMPANY 16
14.4.16.1. Overview
14.4.16.2. Financials
14.4.16.3. Developments
14.4.16.4. Strategic Outlook
14.4.17. COMPANY 17
14.4.17.1. Overview
14.4.17.2. Financials
14.4.17.3. Developments
14.4.17.4. Strategic Outlook
14.4.18. COMPANY 18
14.4.18.1. Overview
14.4.18.2. Financials
14.4.18.3. Developments
14.4.18.4. Strategic Outlook
14.4.19. COMPANY 19
14.4.19.1. Overview
14.4.19.2. Financials
14.4.19.3. Developments
14.4.19.4. Strategic Outlook
14.4.20. COMPANY 20
14.4.20.1. Overview
14.4.20.2. Financials
14.4.20.3. Developments
14.4.20.4. Strategic Outlook
