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Global Heat Recovery Steam Generator HRSG Market Research Report 2025(Status and Outlook)

Publisher Bosson Research
Published Aug 01, 2025
Length 159 Pages
SKU # BOSS20300841

Description

Report Overview

The Heat Recovery Steam Generator (HRSG) is a key component in combined-cycle power plants and industrial cogeneration systems, designed to recover waste heat from gas turbine or engine exhaust gases to produce steam for additional power generation or process heating. HRSGs are highly efficient, leveraging the thermodynamic principle of heat exchange to convert otherwise wasted thermal energy into usable steam, thereby improving overall plant efficiency and reducing emissions. These systems consist of multiple heat exchange sections—economizers, evaporators, and superheaters—arranged in a modular design to optimize performance across varying load conditions. HRSGs can operate under different pressure levels (single, dual, or triple-pressure configurations) depending on application requirements, and they are increasingly integrated with advanced emission control technologies to comply with stringent environmental regulations. Their adoption spans industries such as power generation, oil & gas, petrochemicals, and manufacturing, driven by the global push for energy efficiency and sustainability.

The global Heat Recovery Steam Generator HRSG market size was estimated at USD 2181.53 million in 2024 and is projected to grow at a compound annual growth rate (CAGR) of 2.22% during the forecast period.

This report provides a deep insight into the global Heat Recovery Steam Generator HRSG market covering all its essential aspects. This ranges from a macro overview of the market to micro details of the market size, competitive landscape, development trend, niche market, key market drivers and challenges, SWOT analysis, value chain analysis, etc.

The analysis helps the reader to shape the competition within the industries and strategies for the competitive environment to enhance the potential profit. Furthermore, it provides a simple framework for evaluating and accessing the position of the business organization. The report structure also focuses on the competitive landscape of the Global Heat Recovery Steam Generator HRSG Market, this report introduces in detail the market share, market performance, product situation, operation situation, etc. of the main players, which helps the readers in the industry to identify the main competitors and deeply understand the competition pattern of the market.

In a word, this report is a must-read for industry players, investors, researchers, consultants, business strategists, and all those who have any kind of stake or are planning to foray into the Heat Recovery Steam Generator HRSG market in any manner.

Global Heat Recovery Steam Generator HRSG Market: Market Segmentation Analysis

The research report includes specific segments by region (country), manufacturers, Type, and Application. Market segmentation creates subsets of a market based on product type, end-user or application, Geographic, and other factors. By understanding the market segments, the decision-maker can leverage this targeting in the product, sales, and marketing strategies. Market segments can power your product development cycles by informing how you create product offerings for different segments.

Key Company

BHI

Foster Wheeler

Nooter Eriksen

CMI Energy

Alstom Power

Doosan EandC

Siemens (NEM Energy)

VOGT Power

STF

Babcock and Wilcox

Mitsubishi

Hangzhou Boiler

Bharat Heavy Electricals

Wuxi Huaguang

Market Segmentation (by Type)

Below 50MW

50MW-100MW

100MW-300MW

Over 300MW

Market Segmentation (by Application)

Power Station

Industrial Production

Geographic Segmentation

North America (USA, Canada, Mexico)

Europe (Germany, UK, France, Russia, Italy, Rest of Europe)

Asia-Pacific (China, Japan, South Korea, India, Southeast Asia, Rest of Asia-Pacific)

South America (Brazil, Argentina, Columbia, Rest of South America)

The Middle East and Africa (Saudi Arabia, UAE, Egypt, Nigeria, South Africa, Rest of MEA)

Key Benefits of This Market Research:

Industry drivers, restraints, and opportunities covered in the study

Neutral perspective on the market performance

Recent industry trends and developments

Competitive landscape & strategies of key players

Potential & niche segments and regions exhibiting promising growth covered

Historical, current, and projected market size, in terms of value

In-depth analysis of the Heat Recovery Steam Generator HRSG Market

Overview of the regional outlook of the Heat Recovery Steam Generator HRSG Market:

Chapter Outline

Chapter 1 mainly introduces the statistical scope of the report, market division standards, and market research methods.

Chapter 2 is an executive summary of different market segments (by region, product type, application, etc), including the market size of each market segment, future development potential, and so on. It offers a high-level view of the current state of the Heat Recovery Steam Generator HRSG Market and its likely evolution in the short to mid-term, and long term.

Chapter 3 makes a detailed analysis of the market's competitive landscape of the market and provides the market share, capacity, output, price, latest development plan, merger, and acquisition information of the main manufacturers in the market.

Chapter 4 is the analysis of the whole market industrial chain, including the upstream and downstream of the industry, as well as Porter's five forces analysis.

Chapter 5 introduces the latest developments of the market, the driving factors and restrictive factors of the market, the challenges and risks faced by manufacturers in the industry, and the analysis of relevant policies in the industry.

Chapter 6 provides the analysis of various market segments according to product types, covering the market size and development potential of each market segment, to help readers find the blue ocean market in different market segments.

Chapter 7 provides the analysis of various market segments according to application, covering the market size and development potential of each market segment, to help readers find the blue ocean market in different downstream markets.

Chapter 8 provides a quantitative analysis of the market size and development potential of each region and its main countries and introduces the market development, future development prospects, market space, and capacity of each country in the world.

Chapter 9 shares the main producing countries of Heat Recovery Steam Generator HRSG, their output value, profit level, regional supply, production capacity layout, etc. from the supply side.

Chapter 10 introduces the basic situation of the main companies in the market in detail, including product sales revenue, sales volume, price, gross profit margin, market share, product introduction, recent development, etc.

Chapter 11 provides a quantitative analysis of the market size and development potential of each region in the next five years.

Chapter 12 provides a quantitative analysis of the market size and development potential of each market segment in the next five years.

Chapter 13 is the main points and conclusions of the report.

Key Reasons to Buy this Report:

Access to date statistics compiled by our researchers. These provide you with historical and forecast data, which is analyzed to tell you why your market is set to change

This enables you to anticipate market changes to remain ahead of your competitors

You will be able to copy data from the Excel spreadsheet straight into your marketing plans, business presentations, or other strategic documents

The concise analysis, clear graph, and table format will enable you to pinpoint the information you require quickly

Provision of market value data for each segment and sub-segment

Indicates the region and segment that is expected to witness the fastest growth as well as to dominate the market

Analysis by geography highlighting the consumption of the product/service in the region as well as indicating the factors that are affecting the market within each region

Competitive landscape which incorporates the market ranking of the major players, along with new service/product launches, partnerships, business expansions, and acquisitions in the past five years of companies profiled

Extensive company profiles comprising of company overview, company insights, product benchmarking, and SWOT analysis for the major market players

The current as well as the future market outlook of the industry concerning recent developments which involve growth opportunities and drivers as well as challenges and restraints of both emerging as well as developed regions

Includes in-depth analysis of the market from various perspectives through Porter’s five forces analysis

Provides insight into the market through Value Chain

Market dynamics scenario, along with growth opportunities of the market in the years to come

Table of Contents

159 Pages
1 Research Methodology And Statistical Scope
1.1 Market Definition And Statistical Scope Of Heat Recovery Steam Generator Hrsg
1.2 Key Market Segments
1.2.1 Heat Recovery Steam Generator Hrsg Segment By Type
1.2.2 Heat Recovery Steam Generator Hrsg Segment By Application
1.3 Methodology & Sources Of Information
1.3.1 Research Methodology
1.3.2 Research Process
1.3.3 Market Breakdown And Data Triangulation
1.3.4 Base Year
1.3.5 Report Assumptions & Caveats
2 Heat Recovery Steam Generator Hrsg Market Overview
2.1 Global Market Overview
2.1.1 Global Heat Recovery Steam Generator Hrsg Market Size (M Usd) Estimates And Forecasts (2020-2033)
2.1.2 Global Heat Recovery Steam Generator Hrsg Sales Estimates And Forecasts (2020-2033)
2.2 Market Segment Executive Summary
2.3 Global Market Size By Region
3 Heat Recovery Steam Generator Hrsg Market Competitive Landscape
3.1 Company Assessment Quadrant
3.2 Global Heat Recovery Steam Generator Hrsg Product Life Cycle
3.3 Global Heat Recovery Steam Generator Hrsg Sales By Manufacturers (2020-2025)
3.4 Global Heat Recovery Steam Generator Hrsg Revenue Market Share By Manufacturers (2020-2025)
3.5 Heat Recovery Steam Generator Hrsg Market Share By Company Type (Tier 1, Tier 2, And Tier 3)
3.6 Global Heat Recovery Steam Generator Hrsg Average Price By Manufacturers (2020-2025)
3.7 Manufacturers’ Manufacturing Sites, Areas Served, And Product Types
3.8 Heat Recovery Steam Generator Hrsg Market Competitive Situation And Trends
3.8.1 Heat Recovery Steam Generator Hrsg Market Concentration Rate
3.8.2 Global 5 And 10 Largest Heat Recovery Steam Generator Hrsg Players Market Share By Revenue
3.8.3 Mergers & Acquisitions, Expansion
4 Heat Recovery Steam Generator Hrsg Industry Chain Analysis
4.1 Heat Recovery Steam Generator Hrsg Industry Chain Analysis
4.2 Market Overview Of Key Raw Materials
4.3 Midstream Market Analysis
4.4 Downstream Customer Analysis
5 The Development And Dynamics Of Heat Recovery Steam Generator Hrsg Market
5.1 Key Development Trends
5.2 Driving Factors
5.3 Market Challenges
5.4 Industry News
5.4.1 New Product Developments
5.4.2 Mergers & Acquisitions
5.4.3 Expansions
5.4.4 Collaboration/Supply Contracts
5.5 Pest Analysis
5.5.1 Industry Policies Analysis
5.5.2 Economic Environment Analysis
5.5.3 Social Environment Analysis
5.5.4 Technological Environment Analysis
5.6 Global Heat Recovery Steam Generator Hrsg Market Porter's Five Forces Analysis
5.6.1 Global Trade Frictions
5.6.2 U.S. Tariff Policy – April 2025
5.6.3 Global Trade Frictions And Their Impacts To Heat Recovery Steam Generator Hrsg Market
5.7 Esg Ratings Of Leading Companies
6 Heat Recovery Steam Generator Hrsg Market Segmentation By Type
6.1 Evaluation Matrix Of Segment Market Development Potential (Type)
6.2 Global Heat Recovery Steam Generator Hrsg Sales Market Share By Type (2020-2025)
6.3 Global Heat Recovery Steam Generator Hrsg Market Size Market Share By Type (2020-2025)
6.4 Global Heat Recovery Steam Generator Hrsg Price By Type (2020-2025)
7 Heat Recovery Steam Generator Hrsg Market Segmentation By Application
7.1 Evaluation Matrix Of Segment Market Development Potential (Application)
7.2 Global Heat Recovery Steam Generator Hrsg Market Sales By Application (2020-2025)
7.3 Global Heat Recovery Steam Generator Hrsg Market Size (M Usd) By Application (2020-2025)
7.4 Global Heat Recovery Steam Generator Hrsg Sales Growth Rate By Application (2020-2025)
8 Heat Recovery Steam Generator Hrsg Market Sales By Region
8.1 Global Heat Recovery Steam Generator Hrsg Sales By Region
8.1.1 Global Heat Recovery Steam Generator Hrsg Sales By Region
8.1.2 Global Heat Recovery Steam Generator Hrsg Sales Market Share By Region
8.2 Global Heat Recovery Steam Generator Hrsg Market Size By Region
8.2.1 Global Heat Recovery Steam Generator Hrsg Market Size By Region
8.2.2 Global Heat Recovery Steam Generator Hrsg Market Size Market Share By Region
8.3 North America
8.3.1 North America Heat Recovery Steam Generator Hrsg Sales By Country
8.3.2 North America Heat Recovery Steam Generator Hrsg Market Size By Country
8.3.3 U.S. Market Overview
8.3.4 Canada Market Overview
8.3.5 Mexico Market Overview
8.4 Europe
8.4.1 Europe Heat Recovery Steam Generator Hrsg Sales By Country
8.4.2 Europe Heat Recovery Steam Generator Hrsg Market Size By Country
8.4.3 Germany Market Overview
8.4.4 France Market Overview
8.4.5 U.K. Market Overview
8.4.6 Italy Market Overview
8.4.7 Spain Market Overview
8.5 Asia Pacific
8.5.1 Asia Pacific Heat Recovery Steam Generator Hrsg Sales By Region
8.5.2 Asia Pacific Heat Recovery Steam Generator Hrsg Market Size By Region
8.5.3 China Market Overview
8.5.4 Japan Market Overview
8.5.5 South Korea Market Overview
8.5.6 India Market Overview
8.5.7 Southeast Asia Market Overview
8.6 South America
8.6.1 South America Heat Recovery Steam Generator Hrsg Sales By Country
8.6.2 South America Heat Recovery Steam Generator Hrsg Market Size By Country
8.6.3 Brazil Market Overview
8.6.4 Argentina Market Overview
8.6.5 Columbia Market Overview
8.7 Middle East And Africa
8.7.1 Middle East And Africa Heat Recovery Steam Generator Hrsg Sales By Region
8.7.2 Middle East And Africa Heat Recovery Steam Generator Hrsg Market Size By Region
8.7.3 Saudi Arabia Market Overview
8.7.4 Uae Market Overview
8.7.5 Egypt Market Overview
8.7.6 Nigeria Market Overview
8.7.7 South Africa Market Overview
9 Heat Recovery Steam Generator Hrsg Market Production By Region
9.1 Global Production Of Heat Recovery Steam Generator Hrsg By Region(2020-2025)
9.2 Global Heat Recovery Steam Generator Hrsg Revenue Market Share By Region (2020-2025)
9.3 Global Heat Recovery Steam Generator Hrsg Production, Revenue, Price And Gross Margin (2020-2025)
9.4 North America Heat Recovery Steam Generator Hrsg Production
9.4.1 North America Heat Recovery Steam Generator Hrsg Production Growth Rate (2020-2025)
9.4.2 North America Heat Recovery Steam Generator Hrsg Production, Revenue, Price And Gross Margin (2020-2025)
9.5 Europe Heat Recovery Steam Generator Hrsg Production
9.5.1 Europe Heat Recovery Steam Generator Hrsg Production Growth Rate (2020-2025)
9.5.2 Europe Heat Recovery Steam Generator Hrsg Production, Revenue, Price And Gross Margin (2020-2025)
9.6 Japan Heat Recovery Steam Generator Hrsg Production (2020-2025)
9.6.1 Japan Heat Recovery Steam Generator Hrsg Production Growth Rate (2020-2025)
9.6.2 Japan Heat Recovery Steam Generator Hrsg Production, Revenue, Price And Gross Margin (2020-2025)
9.7 China Heat Recovery Steam Generator Hrsg Production (2020-2025)
9.7.1 China Heat Recovery Steam Generator Hrsg Production Growth Rate (2020-2025)
9.7.2 China Heat Recovery Steam Generator Hrsg Production, Revenue, Price And Gross Margin (2020-2025)
10 Key Companies Profile
10.1 Bhi
10.1.1 Bhi Basic Information
10.1.2 Bhi Heat Recovery Steam Generator Hrsg Product Overview
10.1.3 Bhi Heat Recovery Steam Generator Hrsg Product Market Performance
10.1.4 Bhi Business Overview
10.1.5 Bhi Swot Analysis
10.1.6 Bhi Recent Developments
10.2 Foster Wheeler
10.2.1 Foster Wheeler Basic Information
10.2.2 Foster Wheeler Heat Recovery Steam Generator Hrsg Product Overview
10.2.3 Foster Wheeler Heat Recovery Steam Generator Hrsg Product Market Performance
10.2.4 Foster Wheeler Business Overview
10.2.5 Foster Wheeler Swot Analysis
10.2.6 Foster Wheeler Recent Developments
10.3 Nooter Eriksen
10.3.1 Nooter Eriksen Basic Information
10.3.2 Nooter Eriksen Heat Recovery Steam Generator Hrsg Product Overview
10.3.3 Nooter Eriksen Heat Recovery Steam Generator Hrsg Product Market Performance
10.3.4 Nooter Eriksen Business Overview
10.3.5 Nooter Eriksen Swot Analysis
10.3.6 Nooter Eriksen Recent Developments
10.4 Cmi Energy
10.4.1 Cmi Energy Basic Information
10.4.2 Cmi Energy Heat Recovery Steam Generator Hrsg Product Overview
10.4.3 Cmi Energy Heat Recovery Steam Generator Hrsg Product Market Performance
10.4.4 Cmi Energy Business Overview
10.4.5 Cmi Energy Recent Developments
10.5 Alstom Power
10.5.1 Alstom Power Basic Information
10.5.2 Alstom Power Heat Recovery Steam Generator Hrsg Product Overview
10.5.3 Alstom Power Heat Recovery Steam Generator Hrsg Product Market Performance
10.5.4 Alstom Power Business Overview
10.5.5 Alstom Power Recent Developments
10.6 Doosan Eandc
10.6.1 Doosan Eandc Basic Information
10.6.2 Doosan Eandc Heat Recovery Steam Generator Hrsg Product Overview
10.6.3 Doosan Eandc Heat Recovery Steam Generator Hrsg Product Market Performance
10.6.4 Doosan Eandc Business Overview
10.6.5 Doosan Eandc Recent Developments
10.7 Siemens (Nem Energy)
10.7.1 Siemens (Nem Energy) Basic Information
10.7.2 Siemens (Nem Energy) Heat Recovery Steam Generator Hrsg Product Overview
10.7.3 Siemens (Nem Energy) Heat Recovery Steam Generator Hrsg Product Market Performance
10.7.4 Siemens (Nem Energy) Business Overview
10.7.5 Siemens (Nem Energy) Recent Developments
10.8 Vogt Power
10.8.1 Vogt Power Basic Information
10.8.2 Vogt Power Heat Recovery Steam Generator Hrsg Product Overview
10.8.3 Vogt Power Heat Recovery Steam Generator Hrsg Product Market Performance
10.8.4 Vogt Power Business Overview
10.8.5 Vogt Power Recent Developments
10.9 Stf
10.9.1 Stf Basic Information
10.9.2 Stf Heat Recovery Steam Generator Hrsg Product Overview
10.9.3 Stf Heat Recovery Steam Generator Hrsg Product Market Performance
10.9.4 Stf Business Overview
10.9.5 Stf Recent Developments
10.10 Babcock And Wilcox
10.10.1 Babcock And Wilcox Basic Information
10.10.2 Babcock And Wilcox Heat Recovery Steam Generator Hrsg Product Overview
10.10.3 Babcock And Wilcox Heat Recovery Steam Generator Hrsg Product Market Performance
10.10.4 Babcock And Wilcox Business Overview
10.10.5 Babcock And Wilcox Recent Developments
10.11 Mitsubishi
10.11.1 Mitsubishi Basic Information
10.11.2 Mitsubishi Heat Recovery Steam Generator Hrsg Product Overview
10.11.3 Mitsubishi Heat Recovery Steam Generator Hrsg Product Market Performance
10.11.4 Mitsubishi Business Overview
10.11.5 Mitsubishi Recent Developments
10.12 Hangzhou Boiler
10.12.1 Hangzhou Boiler Basic Information
10.12.2 Hangzhou Boiler Heat Recovery Steam Generator Hrsg Product Overview
10.12.3 Hangzhou Boiler Heat Recovery Steam Generator Hrsg Product Market Performance
10.12.4 Hangzhou Boiler Business Overview
10.12.5 Hangzhou Boiler Recent Developments
10.13 Bharat Heavy Electricals
10.13.1 Bharat Heavy Electricals Basic Information
10.13.2 Bharat Heavy Electricals Heat Recovery Steam Generator Hrsg Product Overview
10.13.3 Bharat Heavy Electricals Heat Recovery Steam Generator Hrsg Product Market Performance
10.13.4 Bharat Heavy Electricals Business Overview
10.13.5 Bharat Heavy Electricals Recent Developments
10.14 Wuxi Huaguang
10.14.1 Wuxi Huaguang Basic Information
10.14.2 Wuxi Huaguang Heat Recovery Steam Generator Hrsg Product Overview
10.14.3 Wuxi Huaguang Heat Recovery Steam Generator Hrsg Product Market Performance
10.14.4 Wuxi Huaguang Business Overview
10.14.5 Wuxi Huaguang Recent Developments
11 Heat Recovery Steam Generator Hrsg Market Forecast By Region
11.1 Global Heat Recovery Steam Generator Hrsg Market Size Forecast
11.2 Global Heat Recovery Steam Generator Hrsg Market Forecast By Region
11.2.1 North America Market Size Forecast By Country
11.2.2 Europe Heat Recovery Steam Generator Hrsg Market Size Forecast By Country
11.2.3 Asia Pacific Heat Recovery Steam Generator Hrsg Market Size Forecast By Region
11.2.4 South America Heat Recovery Steam Generator Hrsg Market Size Forecast By Country
11.2.5 Middle East And Africa Forecasted Sales Of Heat Recovery Steam Generator Hrsg By Country
12 Forecast Market By Type And By Application (2026-2033)
12.1 Global Heat Recovery Steam Generator Hrsg Market Forecast By Type (2026-2033)
12.1.1 Global Forecasted Sales Of Heat Recovery Steam Generator Hrsg By Type (2026-2033)
12.1.2 Global Heat Recovery Steam Generator Hrsg Market Size Forecast By Type (2026-2033)
12.1.3 Global Forecasted Price Of Heat Recovery Steam Generator Hrsg By Type (2026-2033)
12.2 Global Heat Recovery Steam Generator Hrsg Market Forecast By Application (2026-2033)
12.2.1 Global Heat Recovery Steam Generator Hrsg Sales (K Units) Forecast By Application
12.2.2 Global Heat Recovery Steam Generator Hrsg Market Size (M Usd) Forecast By Application (2026-2033)
13 Conclusion And Key Findings
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