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Heat Recovery - Current Pulse of the Market
Frost & Sullivan, Dec 2008
This Frost & Sullivan research service titled Heat Recovery - Current Pulse of the Market provides a detailed examination of market structure, market forecasts, and trends. In this research, Frost & Sullivan's expert analysts thoroughly examine the following technologies: heat recovery steam generators and waste heat boilers.
Market Overview
The North American Market for Heat Recovery Experiences Continual Growth Stepped Up by High Demand
The North American market for heat recovery is on the growth curve over the past five years, as several manufacturers experience increased demand due to the high cost of conventional electricity and natural gas, demand for higher efficiencies, and state and federal incentives and rebates. Despite hindrances such as permitting delays and increased steel prices, the industry continues to rely on its strong market fundamentals to offset these challenges. 'Spiraling electricity costs have led to a rise in demand for technology that could enhance the efficiency of fuel conversion, such as economizers, heat recovery steam generators (HRSGs) for additional generation, and other alternative forms of energy re-use such as waste heat boilers,' says the analyst of this research. 'Compared to other centralized power options such as nuclear and coal, combined cycle gasification turbines plants have the least construction time of eighteen months, without equipment delays, and easier permitting procedures.' All market segments are anticipated to grow steadily, with some segments poised to expand more strongly than the others. The HRSG market segment will be outstanding in comparison to other segments in the heat recovery market, as combined cycle power plants will represent a big portion of the additional installed capacity in the next two to three years.
'Although pollution control measures are a key driver for heat recovery equipment demand, environmental requirements and site permitting are amplifying costs and delaying project initiation,' says the analyst. 'Furthermore, inconsistent regulations across states are complicating the permitting process.' High equipment cost in the last two years due to soaring raw materials prices, especially carbon and stainless steel, is also posing a challenge to sustained market expansion. Manufactures and equipment suppliers face major challenges such as the perennial rise in steel prices and the adverse impact that this could have in the coming years on new power generation investment.
Nevertheless, positive trends such as emissions legislation and incentives are projected to have a greater impact on the market in the short term. Furthermore, the current administration is almost certain to take a tougher stance on emissions than the previous administration, thereby stepping up the demand for waste heat re-use technologies.
Market Sectors
Expert Frost & Sullivan analysts thoroughly examine the following market sectors in this research:
- Industrial
- Electricity companies
- Power producers
- Commercial
- Technologies
The following technologies are covered in this research:
- Heat recovery steam generator
- Waste heat boiler
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