Global Heat Recovery Steam Generator Market Projected to reach $1076.68 million by 2026, at a CAGR of 4.7% - Thermax, Ansaldo Caldaie, Alstom Power, Babcock & Wilcox

Global Heat Recovery Steam Generator Market is estimated at $709.23 million in 2017 and is projected to reach $1076.68 million by 2026, at a CAGR of 4.7%. Some of the key factors fueling the market include increase in energy efficiency measures, conversion of simple cycle power plants to CCPPS, increase in energy demand, growing awareness to reduce the exhaust gas released from gas turbine and growing need to increase the efficiency of the plant. However, problems associated with flow accelerated corrosion are restricting the market growth.

A heat recovery steam generator (HRSG) is a heat exchanger that operates at different pressure levels and utilizes exhaust gas to produce steam. The primary purpose of HRSG is to convert water into superheated steam. It provides thermodynamic link between the steam and gas turbines in order to achieve optimum performance in a combined cycle power plant. The HRSG is also used in gas power plants to minimize carbon emissions. The use of HRSG systems is also made in desalination plants where heat is used for power generation, as well as desalination process.. Also, in heat produced from thermal plants is captured by HRSG and used for district heating purpose.

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Based on Rated Power, The >30 MW segment is expected to combine combined cycle power plants that are planned to come up in Asia-Pacific and North America. Replacement of old coal-fired power generation capacity in the U.S. with new large capacity gas-fired power plants would give a major boost to the market. By geography, Europe held largest market share as European Union has also made guidelines to be followed in the countries of the region for cleaner energy. International bodies, like international energy agency has supported research project and technical assistance for HRSG and other clean energy initiatives for companies around the world. Moreover, the presence of large number of CHP plants in Europe offers huge market opportunities for replacement of ageing HRSGs.

Some of the key players in Heat Recovery Steam Generator Market are Thermax, Ansaldo Caldaie, Alstom Power, Babcock & Wilcox Co. Ltd, Amec Foster Wheeler, Mitsubishi Hitachi Power Systems Ltd, CMI Group, Siemens AG, CMI Groupe, Clayton Industries, Sofinter and Kelvion.

Rated Powers Covered:
-Up to 30 MW
->30 MW

Applications Covered:
-Waste to Energy Power Plant
-District Heating System
-Combined Cycle Power Plant
-Desalination Plant

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End User Covered:
-Pulp & Paper
-Utilities
-Commercial
-Chemicals
-Refineries
-Other End Users

Regions Covered:
-North America
o US
o Canada
o Mexico
-Europe
o Germany
o UK
o Italy
o France
o Spain
o Rest of Europe
-Asia Pacific
o Japan
o China
o India
o Australia
o New Zealand
o South Korea
o Rest of Asia Pacific
-South America
o Argentina
o Brazil
o Chile
o Rest of South America
-Middle East & Africa
o Saudi Arabia
o UAE
o Qatar
o South Africa
o Rest of Middle East & Africa

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This release was published on openPR.