Press release
Heat Recovery Steam Generator Market Demand 2019: Industry Analysis by Top Players, Segments, Opportunities, Key Regions, Type, Technology and Forecast to 2025
Rapid industrialization and urbanization trends and rising demand for electrical power will drive heat recovery steam generator market size. Industries are now adopting energy efficient technologies such as waste heat recovery systems to lower power consumption and energy costs. This trend will propel heat recovery steam generator industry size in the years to come.
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HRSGs are widely used in combined-cycle and cogeneration plants to recover energy from exhaust gases. In cogeneration plants, HRSGs are added to generate low-pressure process steam while in combined-cycle plants they are used to generate high-temperature, high-pressure, superheated steam. In addition, HRSGs are used in chemical plants, refineries and industrial plants for generating steam for diverse applications.
Growing investments in power generation plants will propel market share during the forecast period. For instance, in 2019, South Field Energy announced the construction of a 1.18GW natural gas-fired combined-cycle power plant in Columbiana County, Ohio, with an estimated investment of $1.3billion. The plant will be equipped with two 7HA.02 GE gas turbines along with a steam turbine and heat recovery steam generator (HRSG).
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Design segment of heat recovery steam generator market is split into horizontal drum and vertical drum systems. Horizontal drum HRSG witnesses massive demand owing to its cost-efficient circulation. Continuous technological advancements and cutting-edge R&D programs will also stimulate horizontal drum-based HRSG market size.
Vertical drum HRSG is also gaining popularity as it offers a compact & flexible design and has found growing application in gas turbines. Surging energy demand from manufacturing sector and industrial development across emerging nations has positively influenced product adoption. Rapid industrialization and urbanization will help expand food processing, textiles, chemical processing, and power generation industries. Rising product demand from these sectors will drive vertical drum-based heat recovery steam generator industry share.
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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Dependency on natural gas to produce electricity will drive U.S. regional heat recovery steam generator market. According to EIA, in 2017, the industrial sector accounted for about 35% of U.S. natural gas consumption, while natural gas acted as the source for about 31% of the U.S. industrial sector’s total energy consumption. Surging power demands and investments to develop new power generation plants will fuel U.S. heat recovery steam generator market size expansion over the coming years.
Heat recovery steam generator recovers thermal energy from hot gas streams and finds long-term application in combined cycle and cogeneration power plants. Ongoing technological advancements and rising investments will augment market growth through 2025.
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Global Market Insights, Inc.
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Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.
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