Press release
Heat Recovery Steam Generator Market 2021 Business Scenario – Thermax Limited, Siemens AG, Mitsubishi Hitachi Power Systems Ltd, AC BOILERS SpA
The Heat Recovery Steam Generator Market report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain. The report provides in-depth analysis of parent market trends, macro-economic indicators and governing factors along with market attractiveness as per segments. The report also maps the qualitative impact of various market factors on market segments and geographies.The global power generation is likely to witness a CAGR of more than 3% during the forecast period, 2020 - 2025.
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Top Leading Companies of Heat Recovery Steam Generator Market are Thermax Limited, Siemens AG, Mitsubishi Hitachi Power Systems Ltd, AC BOILERS SpA, Kelvion Holding GmbH, General Electric Company, Alfa Laval AB, Mersen SA, Sofinter SpA and others.
Industry News and Updates
In 2018, Sumitomo SHI FW was awarded a contract by Hyundai Engineering & Construction (HDEC) to design and supply equipment for its Daesan Biomass Power Plant in Finland. This contract also includes the installation of a heat recovery steam generator.
- The movement in Europe carbon emission targets, which aims to cut down greenhouse gases by at least 40% by 2030, compared to 1990, has increased the usage of heat recovery steam generators in the past, both in the power generation and wind energy sectors.
- In 2018, Israel Electric Corporation (IEC) awarded General Electric Company a contract to build the first of two combined cycle gas turbine (CCGT) units. The project is intended to convert part of the Orot Rabin coal-fired power plant to burn gas. This contract also includes the installation of a heat recovery steam generator provided by the General Electric Company.
Key Market Trends
Asia-Pacific to Dominate the Market
- Asia-Pacific has dominated the heat recovery steam generator market in the past and is going to dominate the market in the forecast period because of the several power projects under construction.
- Patratu Super Thermal Power Project, Jharkhand in India, started in 2018 and is expected to be completed in 2022. The project has the capacity to produce 4000 megawatts (MW) of power and is likely to use a large capacity heat recovery steam generator.
- Taiwan Power Company awarded a joint venture of Marubeni Corporation and General Electric Company in 2019, an EPC contract for the expansion of its DaTan Combined Cycle Power Plant Project for Units 8 and 9. This EPC contract also includes the installation of a heat recovery steam generator from General Electric Company. It is likely to drive the heat recovery steam generator market in the forecast period.
Regional Outlook of Heat Recovery Steam Generator Market report includes the following geographic areas such as: North America, Europe, China, Japan, Southeast Asia, India and ROW.
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What Are The Market Factors That Are Explained In The Report?
Key Strategic Developments: The study also includes the key strategic developments of the market, comprising R&D, new product launch, M&A, agreements, collaborations, partnerships, joint ventures, and regional growth of the leading competitors operating in the market on a global and regional scale.
Analytical Tools: The Heat Recovery Steam Generator Market Report includes the accurately studied and assessed data of the key industry players and their scope in the market by means of a number of analytical tools. The analytical tools such as Porter’s five forces analysis, SWOT analysis, feasibility study, and investment return analysis have been used to analyze the growth of the key players operating in the market.
Key Market Features: The report evaluated key market features, including revenue, price, capacity, capacity utilization rate, gross, production, production rate, consumption, import/export, supply/demand, cost, market share, CAGR, and gross margin. In addition, the study offers a comprehensive study of the key market dynamics and their latest trends, along with pertinent market segments and sub-segments.
Customization of the Report: This report can be customized as per your needs for additional data up to 3 companies or countries or 40 analyst hours.
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MarketInsightsReports provides syndicated market research on industry verticals including Healthcare, Information and Communication Technology (ICT), Technology and Media, Chemicals, Materials, Energy, Heavy Industry, etc. MarketInsightsReports provides global and regional market intelligence coverage, a 360-degree market view which includes statistical forecasts, competitive landscape, detailed segmentation, key trends, and strategic recommendations.
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