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Heat Recovery Steam Generators - Global Market Trajectory & Analytics

  • ID: 4805578
  • Report
  • May 2021
  • Region: Global
  • 491 pages
  • Global Industry Analysts, Inc

FEATURED COMPANIES

  • Clayton Industries
  • Cleaver-Brooks, Inc.
  • General Electric Company
  • Greens Power Limited
  • John Cockerill Group
  • John Wood Group plc

Global Heat Recovery Steam Generators Market to Reach US$1.1 Billion by the Year 2027


Amid the COVID-19 crisis, the global market for Heat Recovery Steam Generators estimated at US$853.5 Million in the year 2020, is projected to reach a revised size of US$1.1 Billion by 2027, growing at a CAGR of 3.7% over the period 2020-2027.Upto 30 MW, one of the segments analyzed in the report, is projected to grow at a 4.2% CAGR to reach US$542 Million by the end of the analysis period. After an early analysis of the business implications of the pandemic and its induced economic crisis, growth in the Above 30 MW segment is readjusted to a revised 3.2% CAGR for the next 7-year period. This segment currently accounts for a 52.4% share of the global Heat Recovery Steam Generators market.

The U.S. Accounts for Over 27% of Global Market Size in 2020, While China is Forecast to Grow at a 6% CAGR for the Period of 2020-2027


The Heat Recovery Steam Generators market in the U.S. is estimated at US$230.8 Million in the year 2020. The country currently accounts for a 27.04% share in the global market. China, the world second largest economy, is forecast to reach an estimated market size of US$220.4 Million in the year 2027 trailing a CAGR of 6% through 2027. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 2.2% and 2.9% respectively over the 2020-2027 period. Within Europe, Germany is forecast to grow at approximately 2.7% CAGR while Rest of European market (as defined in the study) will reach US$220.4 Million by the year 2027.

Select Competitors (Total 34 Featured) -

  • Babcock & Wilcox Enterprises, Inc.
  • Clayton Industries
  • Cleaver-Brooks, Inc.
  • General Electric Company
  • Greens Power Limited
  • John Wood Group plc
  • Larsen & toubro limited
  • Mitsubishi Hitachi Power Systems, Ltd.
  • John Cockerill Group
  • Nooter/Eriksen, Inc.
  • RENTECH Boiler Systems, Inc.
  • Siemens AG
  • Thermax Limited
  • Kawasaki Heavy Industries, Ltd.
Note: Product cover images may vary from those shown

FEATURED COMPANIES

  • Clayton Industries
  • Cleaver-Brooks, Inc.
  • General Electric Company
  • Greens Power Limited
  • John Cockerill Group
  • John Wood Group plc
I. METHODOLOGY

II. EXECUTIVE SUMMARY
  • Influencer Market Insights
  • Heat Recovery Steam Generators: A Prelude
  • Design and Functionality
  • HRSG Categories
  • Specialized HRSG Varieties and Functionalities
  • Global Heat Recovery System Generator (HRSG) Market Set to Witness Rapid Growth
  • Developed Regions Dominate, While Developing Markets to Witness Faster Growth
  • Combined Heat and Power (CHP) Application Holds the Major Share, Combined Cycle Application to Witness Rapid Growth
  • Utilities - The Largest End-use Market for HRSGs
  • Impact of Covid-19 and a Looming Global Recession
  • Recent Market Activity
  • Surging Energy Consumption and Demand for Electricity to Drive the Demand for HRSGs
  • Projected Global Demand for Electricity (MWh): 2015, 2020, 2025, 2030 & 2035
  • Global Primary Energy Consumption (Billion toe): Growth Trajectory for the Period 1990-2040
  • Global Energy Consumption (Billion toe) by Country/Region (1995, 2017 and 2040): Breakdown for USA, China, India, Russia, Brazil, EU, Middle East and Rest of World
  • Rising Focus on Cogeneration Technology Drives the Demand for Heat Recovery Steam Generators
  • Exhibit 1: CHP Share of Total Electricity Generation in Major Countries Worldwide
  • Exhibit 2: CHP Installed Capacity (in MWe) in Major Countries Worldwide
  • Heat Recovery Steam Generators Allow CCGT Plants to Achieve High Efficiency
  • Emphasis on Curbing Carbon Emissions Accelerates Demand
  • Exhibit 3: Price of Carbon Emission in US$ per Metric Ton of CO2-Equivalent by Select Countries: 2019
  • Exhibit 4: Percentage Share of Carbon Dioxide Emissions Worldwide by Price: 2019
  • Growing Focus on Renewable Energy: A Strong Growth Driver
  • Domestic Targets for Greenhouse Gas Emissions of Select Regions/Countries
  • Global Investments (US$ Billion) in Renewable Energy by Source: 2018
  • Focus on Energy Efficiency Drives up the Demand for HRSG
  • Exhibit 5: Global Investments in Energy Efficiency (In US$ Billion) for the Years 2016 and 2018 by Region
  • Exhibit 6: Global Investments in Energy Efficiency (In US$ Billion) for the Years 2016 and 2018 by Industry
  • Healthy Outlook for the World Chemical Industry Extends a Fillip to HRSG Market
  • Exhibit 7: World Chemical Industry (In US$ Billion) for the Years 2018 & 2020
  • Innovative HRSG Designs and Upgrades Improve Performance and Efficiency
  • Recent Developments in the HRSG Space
III. MARKET ANALYSIS

IV. COMPETITION
  • Total Companies Profiled: 34
Note: Product cover images may vary from those shown

A selection of companies mentioned in this report includes:

  • Babcock & Wilcox Enterprises, Inc.
  • Clayton Industries
  • Cleaver-Brooks, Inc.
  • General Electric Company
  • Greens Power Limited
  • John Wood Group plc
  • Larsen & toubro limited
  • Mitsubishi Hitachi Power Systems, Ltd.
  • John Cockerill Group
  • Nooter/Eriksen, Inc.
  • RENTECH Boiler Systems, Inc.
  • Siemens AG
  • Thermax Limited
  • Kawasaki Heavy Industries, Ltd.
Note: Product cover images may vary from those shown
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