Market Research Logo

Global Heat Recovery Steam Generator 2016-2020

About Heat Recovery Steam Generator

Fossil fuels account for more than 60% of the global electricity production. Depending on the fuel and the process used, the overall electricity energy conversion ranges between 35% and 40%. This implies that 55%-60% of the energy is wasted during the process. Large quantities of this wasted energy end up as thermal energy in the exhaust gases during the combustion process.

HRSG is a heat exchanger where the heat from the exhaust gas of a gas turbine or a combustion engine is passed through a series of heat exchanger tubes to create steam for the steam turbine. HRSG can be operated at multiple pressure levels – single pressure, dual pressure and triple pressure.

Technavio’s analysts forecast the global HRSG market to grow at a CAGR of 5.37% during the period 2016-2020.

Covered in this report

The report covers the present scenario and the growth prospects of the global heat recovery steam generator market for 2016-2020. The report also presents the vendor landscape and a corresponding detailed analysis of the top six vendors operating in the market.

The market is divided into the following segments based on geography:

  • Americas
  • APAC
  • EMEA
Technavio's report, Global Heat Recovery Steam Generator Market 2016-2020, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the market landscape and its growth prospects over the coming years. The report also includes a discussion of the key vendors operating in this market.

Key vendors
  • AC Boilers
  • Alstom
  • Babcock & Wilcox (B&W)
  • CMI
  • Foster Wheeler
  • Nooter/Eriksen
Other prominent vendors
  • Doosan
  • Hangzhou Boiler Group
  • Mitsubishi Heavy Industries
  • NEM
  • Siemens
  • Victory energy
Market driver
  • Need for energy efficiency
  • For a full, detailed list, view our report
Market challenge
  • Limited product differentiation
  • For a full, detailed list, view our report
Market trend
  • Growing demand for HRSG in power production
  • For a full, detailed list, view our report
Key questions answered in this report
  • What will the market size be in 2020 and what will the growth rate be?
  • What are the key market trends?
  • What is driving this market?
  • What are the challenges to market growth?
  • Who are the key vendors in this market space?
  • What are the market opportunities and threats faced by the key vendors?
  • What are the strengths and weaknesses of the key vendors?


Press Release

Technavio Announces the Publication of its Research Report – Global Heat Recovery Steam Generator Market 2016-2020

Technavio 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 from Technavio’s team 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.

Companies Mentioned

AC Boilers, Alstom, Babcock & Wilcox (B&W), CMI, Foster Wheeler, Nooter/Eriksen, Doosan, Hangzhou Boiler Group, Mitsubishi Heavy Industries, NEM, Siemens, Victory energy.

  • Executive summary
    • Table Executive summary
    • Highlights
  • Scope of the report
    • Market overview
    • Top-vendor offerings
      • Table Product offerings
  • Market research methodology
    • Research methodology
    • Economic indicators
  • Introduction
    • Key market highlights
      • Table Key market highlights
      • Table HRSG at different pressure levels
      • Table List of HRSG applications
    • Technology overview
      • Table Major differences between HRSG and regular boiler
      • Table HRSG engineering, production, and construction (EPC) timeline
      • Table Difference between unfired HRSG and fired HRSG
  • Market landscape
    • Market overview
      • Table Market overview
    • Market size and forecast
      • Table Global HRSG market 2016-2020 ($ billions)
    • Five forces analysis
      • Table Five forces analysis
  • Market segmentation by product
    • Global HRSG market by product 2015
      • Table Global HRSG market by product 2015
    • Global HRSG market by product 2020
      • Table Global HRSG market by product 2020
    • Global HRSG market by product 2015-2020
      • Table Global HRSG market by product 2015-2020
    • Global horizontal HRSG market
      • Table Global horizontal HRSG market 2015-2020 ($ billions)
      • Table Weight comparison of components of horizontal and vertical HRSGs
    • Global vertical HRSG market
      • Table Global vertical HRSG market 2015-2020 ($ billions)
      • Table Horizontal and vertical HRSG footprint area (ft.)
      • Table Comparison of tubes in vertical and horizontal HRSG
  • Geographical segmentation
    • Global HRSG market by geography 2015
      • Table Global HRSG market by geography 2015
    • Global HRSG market by geography 2020
      • Table Global HRSG market by geography 2020
    • Global HRSG market by geography 2015-2020
      • Table Global HRSG market by geography 2015-2020
    • HRSG market in Americas 2015-2020
      • Table HRSG market in Americas 2015-2020 ($ billions)
    • HRSG market in EMEA 2015-2020
      • Table HRSG market in EMEA 2015-2020 ($ billions)
    • HRSG market in APAC 2015-2020
      • Table HRSG market in APAC 2015-2020 ($ billions)
  • Key leading countries
    • Table Natural gas plants in US 2010-2013
    • Table Top three CO2 emitter countries 2000-2014 (million tons)
  • Market drivers
    • Table Cumulative investments in energy efficiency 2014-2035 ($ trillions)
    • Table Comparison of different types of HRSGs
    • Table GHG emissions from different sectors
    • Table CO2 emission limits on new coal power plants across US, UK, and China
    • Table Share of CCGT in thermal power
    • Table Global electricity generation by fuel share 1973
    • Table Global electricity generation by fuel share 2013
    • Table US net energy generation 2010
    • Table US net energy generation 2015
  • Impact of drivers
    • Table Impact of drivers
  • Market challenges
    • Table Renewable investments 2010-2014 ($ billions)
    • Table Share of fossil fuels in global energy mix 2014 and 2035
    • Table Equipment installed cost
  • Impact of drivers and challenges
    • Table Impact of drivers and challenges
  • Market trends
  • Vendor landscape
    • Other prominent vendors
      • Table Other prominent vendors
  • Key vendor analysis
    • AC Boilers
      • Table AC Boilers: HRSG product portfolio
      • Table Key news
    • Alstom
      • Table Alstom: HRSG product portfolio
      • Table Alstom HRSG product portfolio
      • Table Key news
    • Amec Foster Wheeler
      • Table Amec Foster Wheeler: HRSG product portfolio
      • Table Key news
    • B&W
      • Table Key news
    • CMI
      • Table CMI: HRSG portfolio
      • Table Key news
    • Nooter/Eriksen
      • Table HRSG units/power 2015 (in MW)
      • Table Key news
  • Appendix
    • List of abbreviations
  • Explore Technavio

Download our eBook: How to Succeed Using Market Research

Learn how to effectively navigate the market research process to help guide your organization on the journey to success.

Download eBook

Share this report