Heat Recovery Steam Generator Market by Design (Bundle Construction, Modular Construction, Fully Assembled and C-Section Construction), Configuration (Vertical Drum Unit, Horizontal-Once Through Unit and Horizontal Drum Unit), Application (Combined Cycle, Combined Heat & Power (CHP), and Co-generation (Process Heating), Gas Turbine Output Power (0-60 MW, 60-100 MW and 100 MW & Above) - Global Industry Analysis And Forecast To 2025
Industry Outlook and Trend Analysis:
Heat Recovery Steam Generator (HRSG) is mainly used for generating superhot steam from water, while registering itself at a compound annual growth rate (CAGR) during the forecast period. Number of advantages of (HRSG) is gaining demand in various areas. Efforts are been made by environmental organization, industries and governments to increase its use in different sectors. HRSG can be used in both gas and steam turbine, in gas power plants it’s used to reduce carbon emission. HRSG systems are also used for desalination purpose. The area for use of HRSG is increasing due to advancements in Integrated Solar Combined Cycle (ISCC) power plants.
Drivers and Restrains:
Heat Recovery Steam Generator (HRSG) market is seen growing due to number of reasons like; initiatives towards reducing the greenhouse gases, strict rules & regulations for controlling climate change, rise in R&D, increased efficiency due to technical growth, rise in need of energy for economic growth, etc. But every technology comes with some hurdles, restrains of HRSG are; more cost incurred in their maintenance and management and locally used small equipment’s is causing problems (corrosion and overheating).
The Heat Recovery Steam Generator Market is segmented on the basis of design, Type, Component and Application;
Based on Type the market is divided into: Bundle Construction, Modular Construction, Fully Assembled and C-Section Construction. The segment seen to lead the market during the predicted span is Modular.
Based on Configuration the market is divided into: Vertical Drum Unit, Horizontal-Once through Unit and Horizontal Drum Unit. Out of these Horizontal-Once through Unit is seen to increase market share in predicted span.
Based on Application the market is divided into: Combined Cycle, Combined Heat & Power (CHP) and Co-generation (Process Heating). The highest market share is gained by Combined Cycle segment. CHP is considered to gain next spot after Combined Cycle in the predicted span.
Based on Gas turbine output power the market is divided into: 0-60 MW, 60-100 MW and 100 MW & Above. The leading segment seen in the forecasted period is 60-100 MW segment.
Regional Outlook and Trend Analysis:
Geographically, the Heat Recovery Steam Generator Market is segmented into Europe, North America, Asia Pacific, Latin America, Middle East and Africa. Europe region is seen leading the market during the predicted span. The Asia Pacific and North America are ranked after Europe considering market share.
The key players in the Heat Recovery Steam Generator Market are; Greens Power Limited, Siemens AG, Cleaver Brooks, AMEC Foster Wheeler PLC, Thermax Limited, CMI Group, General Electric Company, Doosan Engineering & Construction Co. Ltd., Nooter/Eriksen, Inc, Kelvion Holding Gmbh, etc.
The Heat Recovery Steam Generator Market is segmented as follows-
Vertical Drum Unit
Horizontal-Once Through Unit
Horizontal Drum Unit
Combined Heat & Power (CHP)
Co-generation (Process Heating)
By Gas Turbine Output Power:
100 MW & Above
Rest of Europe
Rest of Asia-Pacific
Rest of South America
Middle East and Africa
Rest of MEA
Some of the key questions answered by the report are:
What was the market size in 2014 and forecast from 2015 to 2025?
What will be the industry market growth from 2015 to 2025?
What are the major drivers, restraints, opportunities, challenges, and industry trends and their impact on the market forecast?
What are the major segments leading the market growth and why?
Which are the leading players in the market and what are the major strategies adopted by them to sustain the market competition?