An analysis of Heat Recovery Steam Generator market has been provided in the latest report introduced by Global Market Insights that primarily focuses on the market trends, demand spectrum, and future prospects of this industry over the forecast period. Furthermore, the report provides a detailed statistical overview in terms of trends outlining the geographical opportunities and contributions by prominent industry share contenders.
Heat recovery steam generator market across Asia Pacific is predicted to grow over 5% by 2025. Increasing investments toward expansion of industrial sector along with government regulations and policies to reduce carbon footprint will drive the market share. For reference, in 2018, 50% of the overall manufacturing value addition was accounted in Asia Pacific with growing foreign direct investment inflow across the sector.
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Increasing consumer interest toward energy efficient cogeneration technologies along with the growing utilization of CHP plants on account of favorable government mandates will foster the heat recovery steam generator market growth. Furthermore, substantial growth across fertilizers, chemical, power generation, oil & gas industries and food & beverages will augment the industry outlook.
Rising infrastructure spending toward the expansion of industrial and commercial infrastructure including malls, colleges and commercial spaces will propel the heat recovery steam generator market. These generators are considered as the critical component to discharge the excess heat produced from the buildings. The enhancement in standard of living coupled with ongoing expansion of urban areas will lead to the deployment of these systems on a large-scale therefore, boosting the industry growth.
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Eminent industry players in heat recovery steam generator market comprises of John Cockerill, John Wood, Thermax, BHEL, Rentech, Siemens, Larsen & Turbo, Cleaver-Brooks, Clayton, GE, Mitsubishi, B&W, Kelvion, AC Boilers, Hamon and Kawasaki.
Market by Growth drivers,
- America & Europe
- Increasing utilization of cogeneration technology
- Focus toward combined cycle generation
- Asia Pacific, Middle East & Africa
- Growing investment toward generating capacity expansion
- Robust industrial sector growth
- Latin America
- Positive outlook toward non-conventional energy utilization
Growing demand for cost effective and energy efficient systems for heat and electricity generation across both industrial and commercial sector will stimulate the heat recovery steam generator market. Rising focus to lower dependency coupled with fluctuating fossil fuel prices are some of the underline factors increasing the deployment of energy efficient systems. Government subsidies, tax rebates and financial incentives introduced by respective regulatory authorities will complement the industry outlook.
Partial Table of Contents (ToC) of the report:
Chapter 4 Heat Recovery Steam Generator Market, By Design
4.1 Heat recovery steam generator market share by design, 2018 & 2025
4.2 Horizontal drum
4.2.1 Global market from horizontal drum, 2014 – 2025
4.2.2 Global market from horizontal drum, by region, 2014 – 2025
4.3 Vertical drum
4.3.1 Global market from vertical drum, 2014 – 2025
4.3.2 Global market from vertical drum, by region, 2014 – 2025
Chapter 5 Heat Recovery Steam Generator Market, By Rated Power
5.1 Heat recovery steam generator market share by rated power, 2018 & 2025
5.2 0 – 30 MW
5.2.1 Global market from 0 – 30 MW, 2014 – 2025
5.2.2 Global market from 0 – 30 MW, by region, 2014 – 2025
5.3 >30 – 50 MW
5.3.1 Global market from >30 – 50 MW, 2014 – 2025
5.3.2 Global market from >30 – 50 MW, by region, 2014 – 2025
5.4 >50 – 100 MW
5.4.1 Global market from >50 – 100 MW, 2014 – 2025
5.4.2 Global market from >50 – 100 MW, by region, 2014 – 2025
5.5 >100 – 200 MW
5.5.1 Global market from >100 – 200 MW, 2014 – 2025
5.5.2 Global market from >100 – 200 MW, by region, 2014 – 2025
5.6 >200 MW
5.6.1 Global market from >200 MW, 2014 – 2025
5.6.2 Global market from >200 MW, by region, 2014 – 2025
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Prevailing petrochemical plant and refinery expansion plans on account of rising demand for hydrocarbon products will boost the MEA heat recovery steam generator market. In addition, increasing economic growth along with rising investments from several financial institutions toward the expansion of industries will propel the industry landscape.
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