Global Heat Recovery Steam Generator Market was valued US$ Bn. in 2019 and the total revenue is expected to grow at 4.23% through 2019 to 2027, reaching nearly US$ xx Bn.

Global Heat Recovery Steam Generator Market

To know about the Research Methodology :- Request Free Sample Report

The report covers an in-depth analysis of COVID 19 pandemic impact on Global Heat Recovery Steam Generator Market by region and on the key players’ revenue affected till July 2020 and expected short term and long-term impact on the market.

Heat Recovery Steam Generator (HRSG) is energy recovery heat exchanger which improves heat from a hot gas stream like combustion turbine or other waste gas stream. Heat recovery steam generates steam that can be used in a process or is used to drive the steam turbine. They aid in changing water into superheated steam in four different segments such as economizer, evaporator, and water preheater & super heater.

The scope of the MMR report includes a detailed study of global and regional markets for heat recovery steam generator with the reasons given for variations in the growth of the energy and power industry in certain regions. The upsurge in the utilization of cogeneration technology with rising investment in generation capacity growth is likely to stimulate the growth of the recovery steam generator market, such as, as per the U.S. Energy Information Administration, the contribution of coal in overall U.S. energy consumption had dropped by 4% in 2018 as compared to 2017. Additionally, the growing industrial sector with a shifting trend towards non-conventional energy use is expected to positively influence the heat recovery steam generator market growth.

The installation of a heat recovery steam generator needs huge maintenance and investment of the product involves huge costs is expected to hinder the demand for HRSG in the economies in the forecast period. Also, the labour is not skilled enough to operate a heat recovery steam generator which may further hamper the growth of the market.

By power rating, the below 100 MW segment was valued US$ xx Mn. in 2019 and is expected to reach US$ xx Mn. by 2027 at a CAGR of 33% over the forecast period. This is attributed to the growing use of co-generating units to resist energy and heat ingestion through small industries, sequestered and commercial grid networks. The MMR report will provide an accurate analysis of the contribution of the various segments to the growth of the heat recovery steam generator market.

As per the IEA (International Energy Agency), the power utility segment in which HRSG are widely used is likely to witness a CAGR of 3% in the forecast period. This, in turn, is projected to boost the demand for HRSGs in future.

By region, Asia Pacific is expected to continue to hold the largest xx% share in heat recovery steam generator market thanks to increased installments of greenfield projects of novel co-generation and combined power and heat plants by private and public initiatives with an expected growth above the global CAGR.
Global Heat Recovery Steam Generator Market, by Region-wise Share (in %)

Global Heat Recovery Steam Generator Market1

Companies such as Siemens AG, GE, Mitsubishi, Baker and others are involved in adopting sustainable strategies to gain competitive edges such as new product launch, product up-gradation and collaborative agreements.

The objective of the report is to present a comprehensive analysis of the Global Heat Recovery Steam Generator Market including all the stakeholders of the industry. The past and current status of the industry with forecasted market size and trends are presented in the report with the analysis of complicated data in simple language. The report covers all the aspects of the industry with a dedicated study of key players that includes market leaders, followers and new entrants. PORTER, SVOR, PESTEL analysis with the potential impact of micro-economic factors of the market has been presented in the report. External as well as internal factors that are supposed to affect the business positively or negatively have been analyzed, which will give a clear futuristic view of the industry to the decision-makers.
The report also helps in understanding Global Heat Recovery Steam Generator Market dynamics, structure by analyzing the market segments and projects the Global Heat Recovery Steam Generator Market size. Clear representation of competitive analysis of key players by Application, price, financial position, Product portfolio, growth strategies, and regional presence in the Global Heat Recovery Steam Generator Market make the report investor’s guide.