Heat Recovery Steam Generator Market is set for lucrative growth during 2021-2031 | Size, Share, Demand and Opportunities Analysis

Global Heat Recovery Steam Generator report from Global Insight Services is the single authoritative source of intelligence on Heat Recovery Steam Generator market. The report will provide you with analysis of impact of latest market disruptions such as Russia-Ukraine war and Covid-19 on the market. Report provides qualitative analysis of the market using various frameworks such as Porters' and PESTLE analysis. Report includes in-depth segmentation and market size data by categories, product types, applications, and geographies. Report also includes comprehensive analysis of key issues, trends and drivers, restraints and challenges, competitive landscape, as well as recent events such as M&A activities in the market.

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A Heat Recovery Steam Generator (HRSG) is an energy recovery heat exchanger that recovers heat from a hot gas stream and uses it to preheat cold water or steam. The hot gas stream can be from a combustion turbine, industrial furnace, or other waste heat source.

Key Trends
There are a few key trends in heat recovery steam generator technology:

1. Increased Efficiency: One trend is towards increasing the overall efficiency of heat recovery steam generators. This can be done through a variety of means, such as improving the heat transfer process, using higher quality materials, and increasing the operating temperature and pressure.

2. Improved Maintenance: Another trend is towards improved maintenance procedures and protocols. This includes things like developing predictive maintenance models, using more advanced diagnostic tools, and increasing the frequency and quality of inspections.

3. Enhanced Safety: A third trend is towards enhanced safety features. This might include things like pressure relief valves, improved fire detection and suppression systems, and better training for operators.

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Market Segments
The Heat Recovery Steam Generator Market is segmented based on power rating, industry vertical, application, and region. Based on power rating, the market is bifurcated into up to 30 mW and above 30 mW. Based on industry vertical, the market is categorized into chemical, refineries, paper and pulp, utilities, and others. Based on application, the market is bifurcated into combined cycle and CHP. Region-wise, the market is segmented into North America, Europe, Asia-Pacific, and the Rest of the World.

Key Players
The Heat Recovery Steam Generator Market report includes players such as Thermax Ltd., Alstom SA, Sofinter S.P.A., Foster Wheeler AG, Technology Transfer Services, Mitsubishi Heavy Industries, CMI Group, Bharat Heavy Electricals Ltd., AE&E Australia Pvt. Ltd. and Doosan Heavy Industries & Construction Co. Ltd.

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Key Drivers
The key drivers of Heat Recovery Steam Generator market are the ever-increasing demand for power, the need for more efficient power generation, and the rise in the price of fossil fuels.

The ever-increasing demand for power is being driven by the global population growth and the rise in living standards. This is resulting in an increase in the demand for electricity. In order to meet this demand, power plants need to be more efficient.

The need for more efficient power generation is being driven by the rise in the price of fossil fuels. Coal, natural gas, and oil are the major sources of fuel for power plants. The price of these fuels has been rising in recent years, which has made power generation more expensive.

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This release was published on openPR.