What’s Driving the Heat Recovery Steam Generator Market Trends? Top Players: Hamon, Kelvion, John Cockerill, Rentech, John Wood, Larsen & Turbo, Clayton, AC Boilers, Siemens, Thermax, GE, Kawasaki, Cleaver-Brooks, BHEL, Mitsubishi and B&W.

Global Market Insights has launched a report on Heat Recovery Steam Generator Market that elucidates an in-depth synopsis of this business vertical over the forecast period. The report is inclusive of the prominent industry drivers and provides an accurate analysis of the key growth trends and market outlook in the years to come in addition to the competitive hierarchy of this sphere.

Heat Recovery Steam Generator Market size is set to exceed USD 1.8 Billion 2025, as reported in the latest study by Global Market Insights, Inc.
Robust industrial growth coupled with upsurge in demand for energy efficiency across the manufacturing sector will foster the heat recovery steam generator market. Paradigm shift toward emission control along with stringent regulatory norms will boost the product penetration. Furthermore, shift toward sustainable energy sources and reduced operational cost will contribute toward industry growth.

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Asia Pacific heat recovery steam generator market is set to witness gains over 5% by 2025. Accelerating investments toward development of industrial base coupled with government policies and regulations to minimize carbon footprint will stimulate the industry growth. For instance, in 2018, Asia Pacific accounted for 50% of the global manufacturing value addition with increasing FDI inflows across the sector.

Introduction of favorable government policies toward development of combined cycle generating sources coupled with the growing consumer inclination toward sustainable cogeneration technologies will positively impact the heat recovery steam generator market share. Furthermore, the significant growth across chemicals, fertilizers, power generation, food & beverages, and oil & gas industries will subsequently fuel the industry growth.

Increasing investments toward the development of commercial and industrial infrastructure including commercial spaces, malls, and colleges will boost the heat recovery steam generator market. The HRSG is considered as an important component to dissipate the excess heat generated from the buildings. The rapid development of urban areas along with improvement in the standard of living will lead to the large-scale deployment of these systems therefore, augmenting the industry growth.

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Increasing demand for reliable, cost effective and energy efficient systems for electricity and heat generation across both commercial and industrial sector will drive the heat recovery steam generator market. Volatile fossil fuel prices along with increasing focus to reduce dependency are some of prominent factors enhancing the demand for energy efficient systems. Financial incentives, government subsidies and tax rebates introduced by various regulatory authorities will further complement the industry growth.

Middle East & Africa heat recovery steam generator market will onlook growth on account of growing government measures to diversify the power generation mix. In addition, resurgent economic growth coupled with upsurge in investments from various financial institutions including ADB toward development of industries will boost the industry landscape.

HRSG systems find its wide applications across commercial, refining, centralized heating, power generation and petrochemical industry. The rising importance of energy optimization across the manufacturing sector coupled with increasing infrastructure spending toward the development and refurbishment of various industries will positively impact the heat recovery steam generator market share. Rapid technological enhancements resulting in low-cost and highly efficient heat recovery solutions will further complement the industry landscape. .

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Eminent industry participants in heat recovery steam generator market includes Hamon, Kelvion, John Cockerill, Rentech, John Wood, Larsen & Turbo, Clayton, AC Boilers, Siemens, Thermax, GE, Kawasaki, Cleaver-Brooks, BHEL, Mitsubishi and B&W.

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