The Key Players in Global Heat Recovery Steam Generator Market 2016-2020

Thursday 25 February 2016, Amsterdam

The report, now available on ASDReports, recognizes the following companies as the key players in the Global Heat Recovery Steam Generator Market: AC Boilers, Alstom, Babcock & Wilcox (B&W), CMI, Foster Wheeler and Nooter/Eriksen.

Other Prominent Vendors in the market are: Doosan, Hangzhou Boiler Group, Mitsubishi Heavy Industries, NEM, Siemens and Victory energy.

Commenting on the report, an analyst said: “The demand for power is increasing constantly across the world. The increasing population worldwide and growth in the global economy are expected to drive this demand. Though renewables and nuclear power contribute to energy production, a significant proportion of global energy demand will be met by fossil fuels. To sustain the growth of the global economy and meet environmental regulations, technology such as HRSG will be an absolute necessity. HRSGs enable efficient power production by utilizing exhaust gases to generate electricity, increasing the overall electricity output of the plant without any extra costs.”

According to the report, the global power market is strongly focused on issues related to climate change. The market players have recognized the profound need for sustainable development through a well-balanced energy portfolio that includes energy efficient technologies.

Further, the report states that the number of vendors in this market is increasing. As a result, the competition between well-established HRSG manufacturers and new players has risen. Niche players manufacture cost-effective but similar HRSGs to HRSG manufacturers. This lack of product differentiation curtails established players from gaining significant market shares, affecting the market growth.

The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market and vendor landscape in addition to a SWOT analysis of the key vendors.