Heat Recovery Steam Generator Market Size, Industry Share and Growth Rate -2026

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.

According to a report by Fortune Business Insights, the Heat Recovery Steam Generator 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

• Amec Foster Wheeler
• THERMAX
• Siemens
• Alstom
• Rentech
• XIZI UHC
• Mitsubishi Hitachi Power System
• XIZI UHC
• Cannon Bono Energia
• CMI Groupe
• General Electrics
• 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.

Key Industry Developments

• 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.
• In Apr 2019, METKA SA has signed a deal of worth €118 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.
• 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.

Segmentation

1. By Design

• Horizontal Drum
• Vertical Drum

2. By Application

• Cogeneration
• Combined Cycle

3. By Power rating

• Up to 30MW
• 31MW-50MW
• 51WM-100MW
• Above 100MW

4. By End-user

• Power Generation
• Refinery
• Chemical
• Paper & Pulp
• Commercial
• Utility
• Others

5. By Geography

• North America (USA and Canada)
• Europe (UK, Germany, France, Italy, Spain, Russia and Rest of Europe)
• Asia Pacific (Japan, China, India, Australia, Southeast Asia and Rest of Asia Pacific)
• Latin America (Brazil, Mexico, and Rest of Latin America)
• Middle East & Africa (South Africa, GCC, and Rest of the Middle East & Africa)