熱回収型蒸気発生器市場レポート：設計、定格出力、用途、エンドユーザー、地域別、2024-2032

熱回収型蒸気発生器の世界市場規模は2023年に13億米ドルに達しました。今後、IMARC Groupは、市場は2032年までに18億米ドルに達し、2024年から2032年の間に3.95%の成長率（CAGR）を示すと予測しています。同市場は、産業プロセスが環境に与える有害な影響に対する意識の高まり、産業設備におけるエネルギー需要の増加、二酸化炭素排出量を削減するためのエネルギー源の多様化などにより、着実な成長を遂げています。

熱回収型蒸気発生器市場の分析：

市場の成長と規模：熱回収型蒸気発生器（HRSG）市場は、エネルギー効率と持続可能な発電に対する需要の増加により、安定した成長を遂げています。

主な市場促進要因：主な市場促進要因：発電や産業プロセスにおける二酸化炭素排出量の削減や運転効率の向上が重要視されています。

技術の進歩：HRSGの設計と材料における技術革新は、より効率的で柔軟性の高い、環境に優しいシステムの実現につながっています。起動時間の短縮や変動する電力需要への対応能力などの進歩により、HRSGは様々な分野でより魅力的なものとなっています。

産業用途：HRSGはユーティリティ、化学、製油所、パルプ・製紙など様々な産業で使用されています。廃熱を回収して追加発電や産業利用に利用できるため、これらの分野でのエネルギー効率向上に役立っています。

主な市場動向：動向には、コンバインドサイクルやコージェネレーションプラントの採用増加や、既存プラントのHRSG改造への注目が含まれます。また、特定の産業ニーズに合わせてカスタマイズされたHRSGソリューションの需要も高まっています。

地域別動向：北米が市場を独占しており、これは産業設備におけるエネルギー需要の増加に支えられています。しかし、アジア太平洋地域は、二酸化炭素排出量の削減に対する意識の高まりと関心の高まりから、急成長市場として浮上しています。

競合情勢：市場競争は激しく、主要企業は技術革新、戦略的提携、合併・買収（M&A）に取り組んでいます。これらの企業は、市場の多様なニーズに対応するため、製品ポートフォリオの拡充と世界なプレゼンス強化に注力しています。

課題と機会：課題には、継続的な技術革新の必要性と、環境規制の変化への適応が含まれます。しかし、より持続可能なエネルギー慣行への転換の機会がこれらの課題を克服すると予測されます。

熱回収型蒸気発生器市場の動向：

エネルギー効率への関心の高まり

急速に進化する業界情勢において、エネルギー効率は重要な関心事となっています。エネルギー消費を削減し、環境への影響を最小限に抑える必要性は、さまざまな分野の企業にとって最優先事項となっています。このような持続可能性への関心の高まりが、熱回収型蒸気発生器（HRSG）システムのようなエネルギー効率の高いソリューションへの需要を喚起しています。HRSGシステムは、工業プロセスや発電時に発生する廃熱を回収して再利用するように設計されています。企業が二酸化炭素排出量の削減と運用コストの削減に努める中、HRSGシステムは魅力的なソリューションを提供します。エネルギーの節約に役立つだけでなく、厳しい排出規制にも対応できます。HRSGシステムは、燃料消費と運転経費の節約につながります。この費用対効果により、HRSGシステムはオペレーションの最適化を目指す企業にとって魅力的な選択肢となり、同時に環境保護にも貢献します。さらに、産業プロセスが環境に与える有害な影響に対する意識の高まりが、市場の成長を支えています。

コンバインドサイクル発電所での採用増加

よりクリーンなエネルギー源への世界の移行と電力需要の増大により、複合サイクル発電所の採用が増加しています。これらの先進的な設備は、ガスタービンと蒸気タービンの両方を利用することで効率的に発電します。HRSGユニットは、ガスタービンの排気から廃熱を回収して蒸気に変換し、蒸気タービンを駆動して追加発電を行うことで、このような発電所で極めて重要な役割を果たしています。この統合されたアプローチは、コンバインドサイクル発電所における発電の全体的な効率を大幅に高める。世界各国の政府がよりクリーンな代替エネルギーへの移行を奨励する中、HRSGシステムを搭載した複合火力発電所の魅力はますます高まっています。HRSG技術は、温室効果ガスの排出を削減し、信頼性の高い発電を提供するという目標に完全に合致しています。その結果、HRSGの需要は、よりクリーンな発電との密接な関連性から増加しています。持続可能なエネルギーソリューションを採用する国が増え、HRSGシステムの需要が高まるにつれ、この動向は続くと予想されます。

産業の拡大とインフラ整備

経済成長と都市化が進むにつれ、信頼性の高い発電ソリューションへの需要が高まっています。HRSGシステムは従来の発電所だけでなく、石油・ガス、化学、製造業など様々な産業で応用されています。これらの分野では、HRSGユニットは蒸気発生とエネルギー回収に使用されています。産業は様々なプロセスで蒸気を必要としますが、HRSGシステムは廃熱を利用することで効率的に蒸気を供給します。これにより、エネルギーコストの削減だけでなく、より持続可能で環境に優しい操業が実現します。産業施設やインフラプロジェクトの継続的な拡大は、HRSGシステムの重要性を強調しています。HRSGは、企業が厳しい環境規制を遵守しながら、効率的にエネルギー需要を満たすことを可能にします。さらに、HRSG技術は汎用性が高いため、幅広い産業用途に適応できます。

目次

第1章 序文

第2章 調査範囲と調査手法

• 調査目的
• 利害関係者
• データソース
  • 一次情報
  • 二次情報
• 市場推定
  • ボトムアップアプローチ
  • トップダウンアプローチ
• 調査手法

第3章 エグゼクティブサマリー

第4章 イントロダクション

• 概要
• 主要産業動向

第5章 熱回収型蒸気発生器の世界市場

• 市場概要
• 市場実績
• COVID-19の影響
• 市場予測

第6章 市場内訳：設計別

• 横型ドラム
  • 市場動向
  • 市場展望
• 縦型ドラム
  • 市場動向
  • 市場予測

第7章 市場内訳：定格出力別

• 30 MW
  • 市場動向
  • 市場予測
• 31 MW-100 MW
  • 市場動向
  • 市場予測
• 100MW
  • 市場動向
  • 市場予測

第8章 市場内訳：用途別

• コージェネレーション
  • 市場動向
  • 市場予測
• コンバインドサイクル
  • 市場動向
  • 市場予測

第9章 市場内訳：エンドユーザー別

• ユーティリティ
  • 市場動向
  • 市場予測
• 化学
  • 市場動向
  • 市場予測
• 製油所
  • 市場動向
  • 市場予測
• パルプ・製紙
  • 市場動向
  • 市場予測
• その他
  • 市場動向
  • 市場予測

第10章 市場内訳：地域別

• 北米
  • 米国
    • 市場動向
    • 市場予測
  • カナダ
    • 市場動向
    • 市場予測
• アジア太平洋
  • 中国
    • 市場動向
    • 市場予測
  • 日本
    • 市場動向
    • 市場予測
  • インド
    • 市場動向
    • 市場予測
  • 韓国
    • 市場動向
    • 市場予測
  • オーストラリア
    • 市場動向
    • 市場予測
  • インドネシア
    • 市場動向
    • 市場予測
  • その他
    • 市場動向
    • 市場予測
• 欧州
  • ドイツ
    • 市場動向
    • 市場予測
  • フランス
    • 市場動向
    • 市場予測
  • 英国
    • 市場動向
    • 市場予測
  • イタリア
    • 市場動向
    • 市場予測
  • スペイン
    • 市場動向
    • 市場予測
  • ロシア
    • 市場動向
    • 市場予測
  • その他
    • 市場動向
    • 市場予測
• ラテンアメリカ
  • ブラジル
    • 市場動向
    • 市場予測
  • メキシコ
    • 市場動向
    • 市場予測
  • その他
    • 市場動向
    • 市場予測
• 中東・アフリカ地域
  • 市場動向
  • 市場内訳：国別
  • 市場予測

第11章 促進要因、抑制要因、機会

• 市場概要
• 促進要因
• 抑制要因
• 機会

第12章 バリューチェーン分析

第13章 ポーターのファイブフォース分析

• 概要
• 買い手の交渉力
• 供給企業の交渉力
• 競合の程度
• 新規参入業者の脅威
• 代替品の脅威

第14章 価格分析

第15章 競合情勢

• 市場構造
• 主要企業
• 主要企業のプロファイル
  • AC Boilers S.P.A（Sofinter S.p.A.）
  • Babcock & Wilcox Enterprises Inc.
  • Cleaver-Brooks Inc.
  • Clayton Industries Inc.
  • General Electric Company
  • John Cockerill
  • Kawasaki Heavy Industries Ltd.
  • Mitsubishi Heavy Industries Ltd.
  • Nooter/Eriksen Inc.（CIC Group Inc.）
  • NEM Energy B.V.
  • Rentech Boilers Systems Inc.
  • Thermax Limited

List of Figures

• Figure 1: Global: Heat Recovery Steam Generator Market: Major Drivers and Challenges
• Figure 2: Global: Heat Recovery Steam Generator Market: Sales Value (in Billion US$), 2018-2023
• Figure 3: Global: Heat Recovery Steam Generator Market Forecast: Sales Value (in Billion US$), 2024-2032
• Figure 4: Global: Heat Recovery Steam Generator Market: Breakup by Design (in %), 2023
• Figure 5: Global: Heat Recovery Steam Generator Market: Breakup by Power Rating (in %), 2023
• Figure 6: Global: Heat Recovery Steam Generator Market: Breakup by Application (in %), 2023
• Figure 7: Global: Heat Recovery Steam Generator Market: Breakup by End User (in %), 2023
• Figure 8: Global: Heat Recovery Steam Generator Market: Breakup by Region (in %), 2023
• Figure 9: Global: Heat Recovery Steam Generator (Horizontal Drum) Market: Sales Value (in Million US$), 2018 & 2023
• Figure 10: Global: Heat Recovery Steam Generator (Horizontal Drum) Market Forecast: Sales Value (in Million US$), 2024-2032
• Figure 11: Global: Heat Recovery Steam Generator (Vertical Drum) Market: Sales Value (in Million US$), 2018 & 2023
• Figure 12: Global: Heat Recovery Steam Generator (Vertical Drum) Market Forecast: Sales Value (in Million US$), 2024-2032
• Figure 13: Global: Heat Recovery Steam Generator (30 MW) Market: Sales Value (in Million US$), 2018 & 2023
• Figure 14: Global: Heat Recovery Steam Generator (30 MW) Market Forecast: Sales Value (in Million US$), 2024-2032
• Figure 15: Global: Heat Recovery Steam Generator (31 MW - 100 MW) Market: Sales Value (in Million US$), 2018 & 2023
• Figure 16: Global: Heat Recovery Steam Generator (31 MW - 100 MW) Market Forecast: Sales Value (in Million US$), 2024-2032
• Figure 17: Global: Heat Recovery Steam Generator (100 MW) Market: Sales Value (in Million US$), 2018 & 2023
• Figure 18: Global: Heat Recovery Steam Generator (100 MW) Market Forecast: Sales Value (in Million US$), 2024-2032
• Figure 19: Global: Heat Recovery Steam Generator (Cogeneration) Market: Sales Value (in Million US$), 2018 & 2023
• Figure 20: Global: Heat Recovery Steam Generator (Cogeneration) Market Forecast: Sales Value (in Million US$), 2024-2032
• Figure 21: Global: Heat Recovery Steam Generator (Combined Cycle) Market: Sales Value (in Million US$), 2018 & 2023
• Figure 22: Global: Heat Recovery Steam Generator (Combined Cycle) Market Forecast: Sales Value (in Million US$), 2024-2032
• Figure 23: Global: Heat Recovery Steam Generator (Utility) Market: Sales Value (in Million US$), 2018 & 2023
• Figure 24: Global: Heat Recovery Steam Generator (Utility) Market Forecast: Sales Value (in Million US$), 2024-2032
• Figure 25: Global: Heat Recovery Steam Generator (Chemicals) Market: Sales Value (in Million US$), 2018 & 2023
• Figure 26: Global: Heat Recovery Steam Generator (Chemicals) Market Forecast: Sales Value (in Million US$), 2024-2032
• Figure 27: Global: Heat Recovery Steam Generator (Refineries) Market: Sales Value (in Million US$), 2018 & 2023
• Figure 28: Global: Heat Recovery Steam Generator (Refineries) Market Forecast: Sales Value (in Million US$), 2024-2032
• Figure 29: Global: Heat Recovery Steam Generator (Pulp and Paper) Market: Sales Value (in Million US$), 2018 & 2023
• Figure 30: Global: Heat Recovery Steam Generator (Pulp and Paper) Market Forecast: Sales Value (in Million US$), 2024-2032
• Figure 31: Global: Heat Recovery Steam Generator (Other End Users) Market: Sales Value (in Million US$), 2018 & 2023
• Figure 32: Global: Heat Recovery Steam Generator (Other End Users) Market Forecast: Sales Value (in Million US$), 2024-2032
• Figure 33: North America: Heat Recovery Steam Generator Market: Sales Value (in Million US$), 2018 & 2023
• Figure 34: North America: Heat Recovery Steam Generator Market Forecast: Sales Value (in Million US$), 2024-2032
• Figure 35: United States: Heat Recovery Steam Generator Market: Sales Value (in Million US$), 2018 & 2023
• Figure 36: United States: Heat Recovery Steam Generator Market Forecast: Sales Value (in Million US$), 2024-2032
• Figure 37: Canada: Heat Recovery Steam Generator Market: Sales Value (in Million US$), 2018 & 2023
• Figure 38: Canada: Heat Recovery Steam Generator Market Forecast: Sales Value (in Million US$), 2024-2032
• Figure 39: Asia-Pacific: Heat Recovery Steam Generator Market: Sales Value (in Million US$), 2018 & 2023
• Figure 40: Asia-Pacific: Heat Recovery Steam Generator Market Forecast: Sales Value (in Million US$), 2024-2032
• Figure 41: China: Heat Recovery Steam Generator Market: Sales Value (in Million US$), 2018 & 2023
• Figure 42: China: Heat Recovery Steam Generator Market Forecast: Sales Value (in Million US$), 2024-2032
• Figure 43: Japan: Heat Recovery Steam Generator Market: Sales Value (in Million US$), 2018 & 2023
• Figure 44: Japan: Heat Recovery Steam Generator Market Forecast: Sales Value (in Million US$), 2024-2032
• Figure 45: India: Heat Recovery Steam Generator Market: Sales Value (in Million US$), 2018 & 2023
• Figure 46: India: Heat Recovery Steam Generator Market Forecast: Sales Value (in Million US$), 2024-2032
• Figure 47: South Korea: Heat Recovery Steam Generator Market: Sales Value (in Million US$), 2018 & 2023
• Figure 48: South Korea: Heat Recovery Steam Generator Market Forecast: Sales Value (in Million US$), 2024-2032
• Figure 49: Australia: Heat Recovery Steam Generator Market: Sales Value (in Million US$), 2018 & 2023
• Figure 50: Australia: Heat Recovery Steam Generator Market Forecast: Sales Value (in Million US$), 2024-2032
• Figure 51: Indonesia: Heat Recovery Steam Generator Market: Sales Value (in Million US$), 2018 & 2023
• Figure 52: Indonesia: Heat Recovery Steam Generator Market Forecast: Sales Value (in Million US$), 2024-2032
• Figure 53: Others: Heat Recovery Steam Generator Market: Sales Value (in Million US$), 2018 & 2023
• Figure 54: Others: Heat Recovery Steam Generator Market Forecast: Sales Value (in Million US$), 2024-2032
• Figure 55: Europe: Heat Recovery Steam Generator Market: Sales Value (in Million US$), 2018 & 2023
• Figure 56: Europe: Heat Recovery Steam Generator Market Forecast: Sales Value (in Million US$), 2024-2032
• Figure 57: Germany: Heat Recovery Steam Generator Market: Sales Value (in Million US$), 2018 & 2023
• Figure 58: Germany: Heat Recovery Steam Generator Market Forecast: Sales Value (in Million US$), 2024-2032
• Figure 59: France: Heat Recovery Steam Generator Market: Sales Value (in Million US$), 2018 & 2023
• Figure 60: France: Heat Recovery Steam Generator Market Forecast: Sales Value (in Million US$), 2024-2032
• Figure 61: United Kingdom: Heat Recovery Steam Generator Market: Sales Value (in Million US$), 2018 & 2023
• Figure 62: United Kingdom: Heat Recovery Steam Generator Market Forecast: Sales Value (in Million US$), 2024-2032
• Figure 63: Italy: Heat Recovery Steam Generator Market: Sales Value (in Million US$), 2018 & 2023
• Figure 64: Italy: Heat Recovery Steam Generator Market Forecast: Sales Value (in Million US$), 2024-2032
• Figure 65: Spain: Heat Recovery Steam Generator Market: Sales Value (in Million US$), 2018 & 2023
• Figure 66: Spain: Heat Recovery Steam Generator Market Forecast: Sales Value (in Million US$), 2024-2032
• Figure 67: Russia: Heat Recovery Steam Generator Market: Sales Value (in Million US$), 2018 & 2023
• Figure 68: Russia: Heat Recovery Steam Generator Market Forecast: Sales Value (in Million US$), 2024-2032
• Figure 69: Others: Heat Recovery Steam Generator Market: Sales Value (in Million US$), 2018 & 2023
• Figure 70: Others: Heat Recovery Steam Generator Market Forecast: Sales Value (in Million US$), 2024-2032
• Figure 71: Latin America: Heat Recovery Steam Generator Market: Sales Value (in Million US$), 2018 & 2023
• Figure 72: Latin America: Heat Recovery Steam Generator Market Forecast: Sales Value (in Million US$), 2024-2032
• Figure 73: Brazil: Heat Recovery Steam Generator Market: Sales Value (in Million US$), 2018 & 2023
• Figure 74: Brazil: Heat Recovery Steam Generator Market Forecast: Sales Value (in Million US$), 2024-2032
• Figure 75: Mexico: Heat Recovery Steam Generator Market: Sales Value (in Million US$), 2018 & 2023
• Figure 76: Mexico: Heat Recovery Steam Generator Market Forecast: Sales Value (in Million US$), 2024-2032
• Figure 77: Others: Heat Recovery Steam Generator Market: Sales Value (in Million US$), 2018 & 2023
• Figure 78: Others: Heat Recovery Steam Generator Market Forecast: Sales Value (in Million US$), 2024-2032
• Figure 79: Middle East and Africa: Heat Recovery Steam Generator Market: Sales Value (in Million US$), 2018 & 2023
• Figure 80: Middle East and Africa: Heat Recovery Steam Generator Market: Breakup by Country (in %), 2023
• Figure 81: Middle East and Africa: Heat Recovery Steam Generator Market Forecast: Sales Value (in Million US$), 2024-2032
• Figure 82: Global: Heat Recovery Steam Generator Industry: Drivers, Restraints, and Opportunities
• Figure 83: Global: Heat Recovery Steam Generator Industry: Value Chain Analysis
• Figure 84: Global: Heat Recovery Steam Generator Industry: Porter's Five Forces Analysis

List of Tables

• Table 1: Global: Heat Recovery Steam Generator Market: Key Industry Highlights, 2023 & 2032
• Table 2: Global: Heat Recovery Steam Generator Market Forecast: Breakup by Design (in Million US$), 2024-2032
• Table 3: Global: Heat Recovery Steam Generator Market Forecast: Breakup by Power Rating (in Million US$), 2024-2032
• Table 4: Global: Heat Recovery Steam Generator Market Forecast: Breakup by Application (in Million US$), 2024-2032
• Table 5: Global: Heat Recovery Steam Generator Market Forecast: Breakup by End User (in Million US$), 2024-2032
• Table 6: Global: Heat Recovery Steam Generator Market Forecast: Breakup by Region (in Million US$), 2024-2032
• Table 7: Global: Heat Recovery Steam Generator Market: Competitive Structure
• Table 8: Global: Heat Recovery Steam Generator Market: Key Players

The global heat recovery steam generator market size reached US$ 1.3 Billion in 2023. Looking forward, IMARC Group expects the market to reach US$ 1.8 Billion by 2032, exhibiting a growth rate (CAGR) of 3.95% during 2024-2032. The market is experiencing steady growth driven by the heightened awareness about the harmful impacts of industrial processes on the environment, rising energy demands in the industrial setups, and increasing diversification of energy sources to reduce carbon footprint.

Heat Recovery Steam Generator Market Analysis:

Market Growth and Size: The heat recovery steam generator (HRSG) market is experiencing stable growth, on account of the increasing demand for energy efficiency and sustainable power generation.

Major Market Drivers: Key drivers include the growing emphasis on reducing carbon emissions and enhancing operational efficiency in power generation and industrial processes.

Technological Advancements: Innovation in HRSG design and materials is leading to more efficient, flexible, and environment-friendly systems. Advancements, such as quicker start-up times and the ability to handle fluctuating power demands, are making HRSGs more appealing across various sectors.

Industry Applications: HRSGs find applications in diverse industries, including utility, chemicals, refineries, and pulp and paper. Their ability to recover waste heat for additional power generation or industrial use makes them valuable in enhancing energy efficiency across these sectors.

Key Market Trends: Trends include the increasing adoption of combined cycle and cogeneration plants and a focus on retrofitting existing plants with HRSGs. The demand for customized HRSG solutions tailored to specific industry needs is also rising.

Geographical Trends: North America dominates the market, supported by increasing energy demands in industrial setups. However, Asia Pacific is emerging as a fast-growing market on account of the increasing awareness and rising focus on reducing carbon footprint.

Competitive Landscape: The market is competitive, with key players engaged in technological innovation, strategic partnerships, and mergers and acquisitions (M&As). These companies are focusing on expanding their product portfolios and enhancing their global presence to meet the diverse needs of the market.

Challenges and Opportunities: Challenges include the need for continuous technological innovation and adaptation to changing environmental regulations. Nonetheless, opportunities for transitioning to more sustainable energy practices are projected to overcome these challenges.

Heat Recovery Steam Generator Market Trends:

Growing energy efficiency concerns

In the rapidly evolving industrial landscape, energy efficiency stands as a critical concern. The need to reduce energy consumption and minimize environmental impact is becoming a top priority for businesses across various sectors. This heightened focus on sustainability is catalyzing the demand for energy-efficient solutions like heat recovery steam generator (HRSG) systems. HRSG systems are designed to capture and reuse waste heat generated during industrial processes or power generation. As companies strive to reduce their carbon footprint and cut operational costs, HRSG systems provide an attractive solution. They not only help in conserving energy but also enable businesses to meet stringent emission regulations. HRSG systems can lead to savings in fuel consumption and operating expenses. This cost-effectiveness makes them an appealing choice for companies seeking to optimize their operations while simultaneously contributing to a greener environment. Moreover, the rising awareness about the harmful impacts of industrial processes on the environment is supporting the market growth.

Increasing adoption in combined cycle power plants

The global transition towards cleaner energy sources and the growing demand for electricity is increasing the adoption of combined cycle power plants. These advanced facilities generate electricity efficiently by utilizing both gas and steam turbines. HRSG units play a pivotal role in such power plants by capturing the waste heat from the gas turbine exhaust and converting it into steam, which drives a steam turbine for additional power generation. This integrated approach significantly boosts the overall efficiency of electricity generation in combined cycle power plants. With governments worldwide encouraging the transition to cleaner energy alternatives, combined cycle plants equipped with HRSG systems are becoming increasingly attractive. HRSG technology aligns perfectly with the goals of reducing greenhouse gas emissions and providing reliable power generation. As a result, the demand for HRSG is increasing due to its close association with cleaner power production. This trend is expected to continue as more countries embrace sustainable energy solutions, thereby driving the demand for HRSG systems.

Industrial expansion and infrastructure development

As economies grow and urbanization continues, the demand for reliable power generation solutions is escalating. HRSG systems are finding applications not only in traditional power plants but also in various industries, such as oil and gas, chemicals, and manufacturing. In these sectors, HRSG units are used for steam generation and energy recovery. Industries require steam for various processes, and HRSG systems efficiently provide it by harnessing waste heat. This not only reduces energy costs but also ensures a more sustainable and eco-friendly operation. The ongoing expansion of industrial facilities and infrastructure projects underscores the significance of HRSG systems. They enable businesses to meet their energy needs efficiently while adhering to stringent environmental regulations. Moreover, the versatility of HRSG technology makes it adaptable to a wide range of industrial applications.

Heat Recovery Steam Generator Industry Segmentation:

IMARC Group provides an analysis of the key trends in each segment of the market, along with forecasts at the global, regional, and country levels for 2024-2032. Our report has categorized the market based on design, power rating, application, and end user.

Breakup by Design:

Horizontal Drum

Vertical Drum

Horizontal drum accounts for the majority of the market share

The report has provided a detailed breakup and analysis of the market based on the design. This includes horizontal drum and vertical drum. According to the report, horizontal drum represented the largest segment.

The horizontal drum segment dominates the market, largely due to its widespread application in large power plants and industrial settings. This design typically features horizontal steam and water drums with vertically positioned heat exchange tubes. The horizontal configuration allows for a larger steam and water storage capacity, providing a more stable response to load changes and making it well-suited for high-capacity operations. Horizontal drum HRSGs are preferred in situations where space is not a major constraint, as they require a larger footprint compared to vertical drum units. Their design is often considered more accessible for maintenance and inspection, leading to lower operational downtime.

Vertical drum HRSGs, are characterized by their vertical steam and water drums with horizontally placed heat exchange tubes. This design is more compact, making it ideal for applications where space is limited, such as in marine and offshore environments or in modular power generation systems. Vertical drum HRSGs are generally considered to have a lower capital cost and can be more suitable for applications with lower power generation requirements. They are also beneficial in situations requiring quick start-up times, as their design can facilitate faster steam production.

Breakup by Power Rating:

30 MW

31 MW - 100 MW

100 MW

100 MW holds the largest share in the industry

A detailed breakup and analysis of the market based on the power rating have also been provided in the report. This includes 30 MW, 31 MW - 100 MW, and 100 MW. According to the report, 100 MW accounted for the largest market share.

The segment of HRSGs with a power rating above 100 MW is the largest, primarily driven by their extensive use in large-scale power generation and heavy industrial applications. These HRSGs are integral to major combined cycle power plants and large cogeneration projects, where high power output and maximum efficiency are paramount. The large capacity of these HRSGs makes them ideal for pairing with high-output gas turbines, thereby significantly enhancing the overall efficiency of power plants. They are key in meeting the growing energy demands of urban centers and industrial hubs, providing a substantial amount of electricity while maintaining environmental standards.

HRSGs with a power rating of up to 30 MW are typically utilized in small-scale industrial applications, district heating, and some renewable energy projects. This segment caters to clients who require compact and efficient energy solutions for relatively lower power demands. These HRSGs are commonly found in industries where space is at a premium, and the energy requirements are not exceedingly high, such as in small manufacturing units, commercial buildings, or small power plants. The versatility and adaptability of these HRSGs to a variety of heat sources make them a popular choice for localized or specialized applications.

The 31 MW to 100 MW power rating segment of the HRSG market addresses the needs of medium-scale power generation facilities. This segment includes HRSGs used in combined heat and power (CHP) plants, medium-sized industrial facilities, and some renewable energy setups. These HRSGs strike a balance between power output and flexibility, making them suitable for a broad range of applications, including those needing moderate levels of steam and electricity.

Breakup by Application:

Cogeneration

Combined Cycle

Combined cycle represents the leading market segment

The report has provided a detailed breakup and analysis of the market based on the application. This includes cogeneration and combined cycle. According to the report, combined cycle represented the largest segment.

The combined cycle application segment is the largest in the HRSG market, primarily due to the widespread adoption of combined cycle gas turbine (CCGT) power plants globally. In these systems, HRSGs play a pivotal role by harnessing the waste heat from gas turbines to produce steam, which then drives a steam turbine to generate additional electricity. This process significantly enhances the overall efficiency of the power plant, often exceeding 60%, by making effective use of the fuel input. The demand for combined cycle plants is driven by their high efficiency, lower environmental impact compared to conventional fossil fuel plants, and their ability to provide flexible power generation that can quickly respond to fluctuations in electricity demand.

The cogeneration, or combined heat and power (CHP) systems, are designed to produce both electricity and thermal energy (steam or hot water) from a single fuel source. HRSGs in these systems capture the heat typically lost in power generation and use it for industrial processes, heating, or cooling. This application is particularly popular in industries with substantial heat and power requirements, such as chemical plants, paper mills, and district heating systems in urban areas. The efficiency of cogeneration systems can reach up to 80-90%, making them highly energy-efficient and cost-effective solutions.

Breakup by End User:

Utility

Chemicals

Refineries

Pulp and Paper

Others

Utility represents the leading market segment

The report has provided a detailed breakup and analysis of the market based on the end user. This includes utility, chemicals, refineries, pulp and paper, and others. According to the report, utility represented the largest segment.

The utility segment leads the HRSG market, largely due to the significant role these generators play in large-scale power generation plants, especially in combined cycle and cogeneration systems. Utilities deploy HRSGs to enhance the efficiency of power generation by recovering waste heat from gas turbines and converting it into additional electrical power. This not only maximizes the output from fuel but also reduces carbon emissions, aligning with global environmental sustainability goals. The demand in this segment is driven by the growing global energy consumption, the shift towards more efficient and cleaner power generation methods, and the need for modernizing aging power infrastructure.

In the chemicals industry, HRSGs are employed to utilize waste heat from various chemical processes for power generation and process heating. This segment values HRSGs for their ability to significantly improve energy efficiency and reduce operational costs. The chemical industry, characterized by energy-intensive processes, benefits from the integration of HRSGs by minimizing fuel consumption and lowering greenhouse gas emissions.

HRSGs in the refinery sector are essential for recovering waste heat from refining processes and converting it into steam or electricity, which can be used within the refinery. This application is crucial for enhancing overall energy efficiency and reducing the carbon footprint of refining operations. Refineries are among the most energy-intensive industrial facilities, and the implementation of HRSG technology helps in optimizing energy use and reducing operational costs.

The pulp and paper industry utilizes these HSRGs for generating power and process steam from waste heat sources within the manufacturing process. This industry is traditionally energy-intensive, and the adoption of HRSGs allows for significant improvements in energy efficiency and cost reduction. By recovering waste heat for in-house power and steam generation, pulp and paper plants can reduce their reliance on external energy sources, thereby decreasing operational costs and environmental impact.

Breakup by Region:

North America

United States

Canada

Asia Pacific

China

Japan

India

South Korea

Australia

Indonesia

Others

Europe

Germany

France

United Kingdom

Italy

Spain

Russia

Others

Latin America

Brazil

Mexico

Others

Middle East and Africa

North America leads the market, accounting for the largest heat recovery steam generator market share

The market research report has also provided a comprehensive analysis of all the major regional markets, which include North America (the United States and Canada); Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, and others); Europe (Germany, France, the United Kingdom, Italy, Spain, Russia, and others); Latin America (Brazil, Mexico, and others); and the Middle East and Africa. According to the report, North America accounted for the largest market share.

The North America heat recovery steam generator market is driven by the modernization of aging power plants and the shift towards more efficient, cleaner power generation technologies. Additionally, stringent environmental regulations in North America encourage the adoption of HRSGs to reduce greenhouse gas emissions.

Asia Pacific maintains a strong presence driven by the growing focus on expanding power generation capacities, especially through combined cycle and cogeneration plants, to meet the growing electricity needs of the urbanizing population.

Europe stands as another key region in the market on account of the increasing emphasis on renewable energy and sustainability.

Latin America exhibits growing potential in the heat recovery steam generator market, fueled by the need to improve energy efficiency and reduce the cost of power generation in the region.

The Middle East and Africa region is experiencing growth on account of the increasing focus on gas-fired combined cycle plants.

Leading Key Players in the Heat Recovery Steam Generator Industry:

Key players in the heat recovery steam generator (HRSG) market are actively engaged in various strategic activities to strengthen their market position. These companies are focusing on technological innovation to enhance the efficiency, flexibility, and environmental compatibility of their HRSG systems. Many are investing in research and development (R&D) to introduce advanced materials and designs that enable quicker start-up times and greater adaptability to fluctuating power demands. There is also a trend of strategic partnerships and collaborations with power generation companies and industries to expand their market reach and offer customized solutions. Additionally, these players are increasingly involved in mergers and acquisitions (M&As) to consolidate their market presence and enhance their product portfolios, aiming to cater to the diverse needs of a global customer base. This strategic focus not only drives competition within the market but also accelerates the adoption of HRSG technologies in various sectors, aligning with global energy efficiency and sustainability goals.

The market research report has provided a comprehensive analysis of the competitive landscape. Detailed profiles of all major companies have also been provided. Some of the key players in the market include:

AC Boilers S.P.A (Sofinter S.p.A.)

Babcock & Wilcox Enterprises Inc.

Cleaver-Brooks Inc.

Clayton Industries Inc.

General Electric Company

John Cockerill

Kawasaki Heavy Industries Ltd.

Mitsubishi Heavy Industries Ltd.

Nooter/Eriksen Inc. (CIC Group Inc.)

NEM Energy B.V.

Rentech Boilers Systems Inc.

Thermax Limited

(Please note that this is only a partial list of the key players, and the complete list is provided in the report.)

Latest News:

June 2023: General Electric Company announced the completion of the safe transport and delivery of one of the world's largest HRSG Supermodules from South Korea to Japan, which are for three GE Heat Recovery Steam Generators (HRSG) that will be installed at Goi Thermal Power Station located in Chiba Prefecture east of Tokyo.

September 2023: John Cockerill was awarded by Mitsubishi Takasago a new order for the design and supply of a heat recovery steam generator (HRSG) for the new combined cycle power plant of Banyan in Singapore.

Key Questions Answered in This Report:

• How has the global heat recovery steam generator market performed so far, and how will it perform in the coming years?
• What are the drivers, restraints, and opportunities in the global heat recovery steam generator market?
• What is the impact of each driver, restraint, and opportunity on the global heat recovery steam generator market?
• What are the key regional markets?
• Which countries represent the most attractive heat recovery steam generator market?
• What is the breakup of the market based on the design?
• Which is the most attractive design in the heat recovery steam generator market?
• What is the breakup of the market based on the power rating?
• Which is the most attractive power rating in the heat recovery steam generator market?
• What is the breakup of the market based on the application?
• Which is the most attractive application in the heat recovery steam generator market?
• What is the breakup of the market based on the end user?
• Which is the most attractive end user in the heat recovery steam generator market
• What is the competitive structure of the market?
• Who are the key players/companies in the global heat recovery steam generator market?

Table of Contents

1 Preface

2 Scope and Methodology

• 2.1 Objectives of the Study
• 2.2 Stakeholders
• 2.3 Data Sources
  • 2.3.1 Primary Sources
  • 2.3.2 Secondary Sources
• 2.4 Market Estimation
  • 2.4.1 Bottom-Up Approach
  • 2.4.2 Top-Down Approach
• 2.5 Forecasting Methodology

3 Executive Summary

4 Introduction

• 4.1 Overview
• 4.2 Key Industry Trends

5 Global Heat Recovery Steam Generator Market

• 5.1 Market Overview
• 5.2 Market Performance
• 5.3 Impact of COVID-19
• 5.4 Market Forecast

6 Market Breakup by Design

• 6.1 Horizontal Drum
  • 6.1.1 Market Trends
  • 6.1.2 Market Forecast
• 6.2 Vertical Drum
  • 6.2.1 Market Trends
  • 6.2.2 Market Forecast

7 Market Breakup by Power Rating

• 7.1 30 MW
  • 7.1.1 Market Trends
  • 7.1.2 Market Forecast
• 7.2 31 MW - 100 MW
  • 7.2.1 Market Trends
  • 7.2.2 Market Forecast
• 7.3 100 MW
  • 7.3.1 Market Trends
  • 7.3.2 Market Forecast

8 Market Breakup by Application

• 8.1 Cogeneration
  • 8.1.1 Market Trends
  • 8.1.2 Market Forecast
• 8.2 Combined Cycle
  • 8.2.1 Market Trends
  • 8.2.2 Market Forecast

9 Market Breakup by End User

• 9.1 Utility
  • 9.1.1 Market Trends
  • 9.1.2 Market Forecast
• 9.2 Chemicals
  • 9.2.1 Market Trends
  • 9.2.2 Market Forecast
• 9.3 Refineries
  • 9.3.1 Market Trends
  • 9.3.2 Market Forecast
• 9.4 Pulp and Paper
  • 9.4.1 Market Trends
  • 9.4.2 Market Forecast
• 9.5 Others
  • 9.5.1 Market Trends
  • 9.5.2 Market Forecast

10 Market Breakup by Region

• 10.1 North America
  • 10.1.1 United States
    • 10.1.1.1 Market Trends
    • 10.1.1.2 Market Forecast
  • 10.1.2 Canada
    • 10.1.2.1 Market Trends
    • 10.1.2.2 Market Forecast
• 10.2 Asia-Pacific
  • 10.2.1 China
    • 10.2.1.1 Market Trends
    • 10.2.1.2 Market Forecast
  • 10.2.2 Japan
    • 10.2.2.1 Market Trends
    • 10.2.2.2 Market Forecast
  • 10.2.3 India
    • 10.2.3.1 Market Trends
    • 10.2.3.2 Market Forecast
  • 10.2.4 South Korea
    • 10.2.4.1 Market Trends
    • 10.2.4.2 Market Forecast
  • 10.2.5 Australia
    • 10.2.5.1 Market Trends
    • 10.2.5.2 Market Forecast
  • 10.2.6 Indonesia
    • 10.2.6.1 Market Trends
    • 10.2.6.2 Market Forecast
  • 10.2.7 Others
    • 10.2.7.1 Market Trends
    • 10.2.7.2 Market Forecast
• 10.3 Europe
  • 10.3.1 Germany
    • 10.3.1.1 Market Trends
    • 10.3.1.2 Market Forecast
  • 10.3.2 France
    • 10.3.2.1 Market Trends
    • 10.3.2.2 Market Forecast
  • 10.3.3 United Kingdom
    • 10.3.3.1 Market Trends
    • 10.3.3.2 Market Forecast
  • 10.3.4 Italy
    • 10.3.4.1 Market Trends
    • 10.3.4.2 Market Forecast
  • 10.3.5 Spain
    • 10.3.5.1 Market Trends
    • 10.3.5.2 Market Forecast
  • 10.3.6 Russia
    • 10.3.6.1 Market Trends
    • 10.3.6.2 Market Forecast
  • 10.3.7 Others
    • 10.3.7.1 Market Trends
    • 10.3.7.2 Market Forecast
• 10.4 Latin America
  • 10.4.1 Brazil
    • 10.4.1.1 Market Trends
    • 10.4.1.2 Market Forecast
  • 10.4.2 Mexico
    • 10.4.2.1 Market Trends
    • 10.4.2.2 Market Forecast
  • 10.4.3 Others
    • 10.4.3.1 Market Trends
    • 10.4.3.2 Market Forecast
• 10.5 Middle East and Africa
  • 10.5.1 Market Trends
  • 10.5.2 Market Breakup by Country
  • 10.5.3 Market Forecast

11 Drivers, Restraints, and Opportunities

• 11.1 Overview
• 11.2 Drivers
• 11.3 Restraints
• 11.4 Opportunities

12 Value Chain Analysis

13 Porters Five Forces Analysis

• 13.1 Overview
• 13.2 Bargaining Power of Buyers
• 13.3 Bargaining Power of Suppliers
• 13.4 Degree of Competition
• 13.5 Threat of New Entrants
• 13.6 Threat of Substitutes

14 Price Analysis

15 Competitive Landscape

• 15.1 Market Structure
• 15.2 Key Players
• 15.3 Profiles of Key Players
  • 15.3.1 AC Boilers S.P.A (Sofinter S.p.A.)
    • 15.3.1.1 Company Overview
    • 15.3.1.2 Product Portfolio
  • 15.3.2 Babcock & Wilcox Enterprises Inc.
    • 15.3.2.1 Company Overview
    • 15.3.2.2 Product Portfolio
    • 15.3.2.3 Financials
  • 15.3.3 Cleaver-Brooks Inc.
    • 15.3.3.1 Company Overview
    • 15.3.3.2 Product Portfolio
  • 15.3.4 Clayton Industries Inc.
    • 15.3.4.1 Company Overview
    • 15.3.4.2 Product Portfolio
  • 15.3.5 General Electric Company
    • 15.3.5.1 Company Overview
    • 15.3.5.2 Product Portfolio
    • 15.3.5.3 Financials
    • 15.3.5.4 SWOT Analysis
  • 15.3.6 John Cockerill
    • 15.3.6.1 Company Overview
    • 15.3.6.2 Product Portfolio
  • 15.3.7 Kawasaki Heavy Industries Ltd.
    • 15.3.7.1 Company Overview
    • 15.3.7.2 Product Portfolio
    • 15.3.7.3 Financials
    • 15.3.7.4 SWOT Analysis
  • 15.3.8 Mitsubishi Heavy Industries Ltd.
    • 15.3.8.1 Company Overview
    • 15.3.8.2 Product Portfolio
    • 15.3.8.3 Financials
    • 15.3.8.4 SWOT Analysis
  • 15.3.9 Nooter/Eriksen Inc. (CIC Group Inc.)
    • 15.3.9.1 Company Overview
    • 15.3.9.2 Product Portfolio
  • 15.3.10 NEM Energy B.V.
    • 15.3.10.1 Company Overview
    • 15.3.10.2 Product Portfolio
  • 15.3.11 Rentech Boilers Systems Inc.
    • 15.3.11.1 Company Overview
    • 15.3.11.2 Product Portfolio
  • 15.3.12 Thermax Limited
    • 15.3.12.1 Company Overview
    • 15.3.12.2 Product Portfolio

Kindly note that this only represents a partial list of companies, and the complete list has been provided in the report.