Dublin, May 17, 2023 (GLOBE NEWSWIRE) — The “Heat Recovery Steam Generators: Global Strategic Business Report” report has been added to ResearchAndMarkets.com’s offering.
The global market for Heat Recovery Steam Generators estimated at US$833.6 Million in the year 2022, is projected to reach a revised size of US$1.1 Billion by 2030, growing at a CAGR of 3.5% over the analysis period 2022-2030.
Up to 30 MW, one of the segments analyzed in the report, is projected to record 4% CAGR and reach US$559 Million by the end of the analysis period.
Taking into account the ongoing post pandemic recovery, growth in the Above 30 Mw segment is readjusted to a revised 3% CAGR for the next 8-year period.
The U.S. Market is Estimated at $185.1 Million, While China is Forecast to Grow at 6.1% CAGR
The Heat Recovery Steam Generators market in the U.S. is estimated at US$185.1 Million in the year 2022. China, the world’s second largest economy, is forecast to reach a projected market size of US$238.8 Million by the year 2030 trailing a CAGR of 6.1% over the analysis period 2022 to 2030.
Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 1.7% and 1.9% respectively over the 2022-2030 period. Within Europe, Germany is forecast to grow at approximately 2.8% CAGR.
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.
|No. of Pages||491|
|Forecast Period||2022 – 2030|
|Estimated Market Value (USD) in 2022||$833.6 Million|
|Forecasted Market Value (USD) by 2030||$1100 Million|
|Compound Annual Growth Rate||3.5%|
Key Topics Covered:
II. EXECUTIVE SUMMARY
1. MARKET OVERVIEW
- Influencer Market Insights
- Heat Recovery Steam Generators – Global Key Competitors Percentage Market Share in 2022 (E)
- Heat Recovery Steam Generators: A Prelude
- Design and Functionality
- HRSG Categories
- Specialized HRSG Varieties and Functionalities
- Global Heat Recovery System Generator (HRSG) Market Set to Witness Rapid Growth
- Developed Regions Dominate, While Developing Markets to Witness Faster Growth
- Combined Heat and Power (CHP) Application Holds the Major Share, Combined Cycle Application to Witness Rapid Growth
- Utilities – The Largest End-use Market for HRSGs
- Impact of Covid-19 and a Looming Global Recession
- Competitive Market Presence – Strong/Active/Niche/Trivial for Players Worldwide in 2022 (E)
2. FOCUS ON SELECT PLAYERS
3. MARKET TRENDS & DRIVERS
- Surging Energy Consumption and Demand for Electricity to Drive the Demand for HRSGs
- Projected Global Demand for Electricity (MWh): 2015, 2020, 2025, 2030 & 2035
- Global Primary Energy Consumption (Billion toe): Growth Trajectory for the Period 1990-2040
- Global Energy Consumption (Billion toe) by Country/Region (1995, 2017 and 2040): Breakdown for USA, China, India, Russia, Brazil, EU, Middle East and Rest of World
- Rising Focus on Cogeneration Technology Drives the Demand for Heat Recovery Steam Generators
- CHP Share of Total Electricity Generation in Major Countries Worldwide
- CHP Installed Capacity (in MWe) in Major Countries Worldwide
- Heat Recovery Steam Generators Allow CCGT Plants to Achieve High Efficiency
- Emphasis on Curbing Carbon Emissions Accelerates Demand
- Price of Carbon Emission in US$ per Metric Ton of CO2-Equivalent by Select Countries: 2019
- 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
- Global Investments in Energy Efficiency (In US$ Billion) for the Years 2016 and 2018 by Region
- 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
- 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
4. GLOBAL MARKET PERSPECTIVE
III. MARKET ANALYSIS
For more information about this report visit https://www.researchandmarkets.com/r/wmzawg
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- Global Market for Heat Recovery Steam Generators