Heat Recovery Steam Generator Market Increasing Demand with Leading key players Cleaver-Brooks, Siemens, GE, CMI Groupe, Cannon Bono Energia, Mitsubishi Hitachi Power System, Rentech, HAMON, AC BOILERS S.p.A. formerly ANSALDO CALDAIE, XIZI UNITE, Thermax

In countries such as India and China, heat recovery steam generator systems are installed for generating electricity for infrastructural and industrial development. Governments are also taking initiatives to cater to the need of the rapidly multiplying population and their increasing demand for basic necessities, in which electricity plays a major role. Such initiatives are likely to bode well for the global heat recovery steam generator market. According to Fortune Business Insights, the market for heat recovery steam generating systems is anticipated to rise exponentially on account of the growing demand for energy and power for daily consumption in all residential, industrial and commercial sectors.

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According to a report by Fortune Business Insights, the market is segmented into above 100MW, 51MW-100MW, 31MW-50MW, and 0-30MW, based on power rating. Among these, the 30MW capacity segment is currently holding a significant market share owing to their compact size and efficiency to utilize waste heat. The 30 MW capacity is used in various grid and commercial networks and small industries.

Key Companies

o Amec Foster Wheeler
o THERMAX
o Siemens
o Alstom
o Rentech
o XIZI UHC
o Mitsubishi Hitachi Power System
o XIZI UHC
o Cannon Bono Energia
o CMI Groupe
o General Electrics
o Cleaver-Brooks

The report on global heat recovery steam generator system by Fortune Business Insights is titled," Heat Recovery Steam Generator Market Size, Share and Global Trend By Design (Horizontal Drum, Vertical Drum), By Application (Cogeneration, Combined Cycle), By Power rating (Up to 30MW, 31MW-50MW, 51WM-100MW, Above 100MW), By End-user (Power Generation, Refinery, Chemical, Paper & Pulp, Commercial, Utility) and Geography Forecast Till 2026". The report focuses on growth drivers and restraints, trends and opportunities and competitive landscape of the market. All information provided in the report are gathered from both primary and secondary resources.

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Key Market Driver - Growth in industrial activities due to increase in demand for energy
Key Market Restraint - High capital investment
Demand for Efficient Steam Generators to Boost Growth

Commonly known as waste heat boilers, heat recovery steam generators convert water into steam in three sections namely - evaporator, economizer, and super heater. They link the steam turbines and gas turbines thermodynamically and thus get optimum performance in a combined cycle power plant. The increasing demand for most efficient combined cycles for reducing the rate of fuel and accelerating extensive cycling operations, is ultimately boosting the global heat recovery steam generators market growth.

Surge in Combined Cycle Power Plants to Produce Electricity Catapults North America to the Fore
Geographically, the market is dominated by North America, wherein the U.S. showcases the highest rate of heat recovery steam generator market revenue generation. This is owing to the rise in number of combined cycle power plants that uses both steam and gas turbines for producing electricity and distributing it for all residential, commercial and industrial purposes.
The global heat recovery steam generators market witnesses the presence of many players making the competition fierce. They are adopting various strategies to gain a competitive edge and stand out in the crowd. These strategies include company collaborations for mass production, co-development of power households, merger and acquisitions, and others. For instance, the companies Javno Podjetje Energetika, and Metka SA recently signed a EUR118 million deal in April 2019 for the construction, procurement, and engineering of new combined heat and power plant in Ljubljana.

Key Industry Developments

o In Apr 2019, MHPS secured a contract to supply equipment like a gas turbine, steam turbine, generator, and heat recovery steam generator for 1026.3MW natural gas power plant GTCC power plant for the UAE's Emirates of Sharjah.
o In Apr 2019, METKA SA has signed a deal of worth EUR118 million with JAVNO PODJETJE ENERGETIKA, Ljubljana for engineering, procurement, and construction of new combined heat and power plant in Ljubljana. The scope of this project to supply, installation and commissioning of two gas turbine, two heat recovery steam generator with the necessary equipment required for construction.
o In Mar 2019, GE Power and Bangladesh's independent power producer summit have agreed to co-develop a combined cycle gas power plant called Meghnaghat II near Dhaka to generate electricity to power households, businesses, and industries across the country. The scope of this project is to supply 9HA.01 gas turbine, heat recovery steam generator, steam turbine generator, condenser and associated system for power plant.

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Segmentation

1. By Design
o Horizontal Drum
o Vertical Drum
2. By Application
o Cogeneration
o Combined Cycle
3. By Power rating
o Up to 30MW
o 31MW-50MW
o 51WM-100MW
o Above 100MW
4. By End-user
o Power Generation
o Refinery
o Chemical
o Paper & Pulp
o Commercial
o Utility
o Others
5. By Geography
o North America (USA and Canada)
o Europe (UK, Germany, France, Italy, Spain, Russia and Rest of Europe)
o Asia Pacific (Japan, China, India, Australia, Southeast Asia and Rest of Asia Pacific)
o Latin America (Brazil, Mexico, and Rest of Latin America)
o Middle East & Africa (South Africa, GCC, and Rest of the Middle East & Africa)

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Major Table of Content for Heat Recovery Steam Generator Market:

1. Introduction
2. Executive Summary
3. Market Dynamics
4. Key Insights
5. Global Heat Recovery Steam Generator Market Analysis, Insights and Forecast, 2026
6. North America Heat Recovery Steam Generator Market Analysis, Insights and Forecast, 2026
7. Europe Heat Recovery Steam Generator Market Analysis, Insights and Forecast, 2026
8. Asia Pacific Heat Recovery Steam Generator Market Analysis, Insights and Forecast, 2026
9. The Middle East and Africa Heat Recovery Steam Generator Market Analysis, Insights and Forecast, 2026
10. Latin America Heat Recovery Steam Generator Market Analysis, Insights and Forecast, 2026
11. Competitive Landscape
12. Company Profile
13. Conclusion
Complete TOC Available Here....

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An Overview of the Impact of COVID-19 on this Market:

The emergence of COVID-19 has brought the world to a standstill. We understand that this health crisis has brought an unprecedented impact on businesses across industries. However, this too shall pass. Rising support from governments and several companies can help in the fight against this highly contagious disease. There are some industries that are struggling and some are thriving. Overall, almost every sector is anticipated to be impacted by the pandemic.
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