Future Market InsightsModular segment to hold high market share in the global heat recovery steam generator market
The global heat recovery steam generator market is currently witnessing robust growth and is expected to reflect a noteworthy valuation by the end of the assessment year in 2027. Future Market Insights has covered a detailed analysis of heat recovery steam generators at a global level and presented numerous insights in a systematic and orderly fashion in a new research report titled “Heat Recovery Steam Generator Market: Global Industry Analysis (2012-2016) and Opportunity Assessment (2017-2027)”. This research report covers intelligence on various segments of the global market and their scenario across key regions in the globe, namely, North America, Western Europe, Eastern Europe, Latin America, Asia Pacific excluding Japan (APEJ), Japan, and Middle East and Africa (MEA). The report also covers key drivers, restraints and trends that are shaping the global heat recovery steam generator market and influencing its growth. The research also includes value and volume projections for a period of 10 years along with historical data analysis. This analytical research report can support businesses by showcasing key recommendations that can be used to gain stability in the changing dynamics of the global heat recovery steam generator market.
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Global Heat Recovery Steam Generator Market: Forecast Highlights
The global heat recovery steam generator market is expected to grow at a robust rate to register a value CAGR of 6.1% throughout the period of forecast to reach a valuation of more than US$ 1.5 Bn by the end of the assessment year from a value of US$ 836 Mn in 2017.
Global Heat Recovery Steam Generator Market: Factors Influencing Growth
Numerous factors are responsible for the growth of the global heat recovery steam generator market. Factors such as increasing demand for combined heat and power to enhance the overall process efficiency, rising demand to reduce the greenhouse gas emissions, increase in energy demand coupled with economic growth triggering the sales of heat recovery steam generators, growing demand for combined cycles with reduced delivery time and enhanced plant efficiency, proliferation in efficiency measures, increase in research and development programmes and increase in the demand for natural gas fired generating capacity are driving the growth of the global heat recovery steam generator market. However, the market is not devoid of hurdles. Aspects such as high costs associated with the maintenance of heat recovery steam generators and drainage and local tube overheating and corrosion related issues affecting plant efficiency are hindering the growth of the global heat recovery steam generator market.
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Global Heat Recovery Steam Generator Market: Segmental Outlook
The global heat recovery steam generator market is segmented on the basis of design, configuration, application, gas turbine output power and region.
By design, the modular segment is expected to dominate the global market with a high market value throughout the forecast period. C-section segment is also expected to significantly contribute to the growth of the global market.
By configuration, horizontal once-through unit segment is poised to grow at an exceptional rate to register a value CAGR of 9.2% throughout the forecast period.
By application, combined cycle segment is the largest with a high market valuation. The CHP segment reflects high growth potential as it is expected to grow at a high CAGR and is the second largest segment. The CHP segment is poised to register a value CAGR of 8.5% throughout the forecast period.
By region, Middle East and Africa (MEA) reflects high market attractiveness. The heat recovery steam generator market in MEA region is anticipated to reflect a value higher than US$ 450 Mn by the end of the year of assessment.
By gas turbine output power, 60-100 MW segment is anticipated to lead the global market during the assessment period.
Global Heat Recovery Steam Generator Market: Competition Analysis
Key players in the market are partnering with distributors, local players, and installers to provide application specific solutions and better cater to the end-user industry demand. The research report on the global heat recovery system generator market includes intelligence on key players such as Cleaver-Brooks, Siemens AG, General Electric, CMI Group,John Wood Group PLC, Cannon S.p.A., Mitsubishi Hitachi Power Systems, Ltd.,Rentech Boilers Systems Inc.,Hamon Deltak, Inc.,AC BOILERS SpA,SES Tlmače, a.s., Aalborg Engineering Slovakia s.r.o., Vogt Power International Inc.,Xizi United Holdings Limited and Thermax Global.
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