Heat Recovery Steam Generator (HRSG) Market Revenue, Insights, Overview, Outlook, Analysis | Valuates Reports

Heat Recovery Steam Generator (HRSG) Market Size

In 2024, the global market size of Heat Recovery Steam Generator (HRSG) was estimated to be worth US$ 2080 million and is forecast to reach approximately US$ 2418 million by 2031 with a CAGR of 2.2% during the forecast period 2025-2031.

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A heat recovery steam generator or HRSG is an energy recovery heat exchanger that recovers heat from a hot gas stream. It produces steam that can be used in a process (cogeneration) or used to drive a steam turbine (combined cycle).

Global Heat Recovery Steam Generator (HRSG) key players include Nooter Eriksen, BHI, CMI Energy, Doosan E&C, etc. Global top four manufacturers hold a share over 30%.

North America is the largest market, with a share about 25%, followed by China, and Europe, both have a share about 45 percent.

In terms of product, 100MW-300MW is the largest segment, with a share over 55%. And in terms of application, the largest application is Power Station, followed by Industrial Production.

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By Type
• Below 50MW
• 50MW-100MW
• 100MW-300MW
• Over 300MW
By Application
• Power Station
• Industrial Production

Key Companies
BHI, Foster Wheeler, Nooter Eriksen, CMI Energy, Alstom Power, Doosan E&C, Siemens (NEM Energy), VOGT Power, STF, Babcock & Wilcox, Mitsubishi, Hangzhou Boiler, Bharat Heavy Electricals, Wuxi Huaguang

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This release was published on openPR.