Global Heat Recovery Steam Generator for Gas Turbines Market Growth 2026-2032
Description
The global Heat Recovery Steam Generator for Gas Turbines market size is predicted to grow from US$ 567 million in 2025 to US$ 703 million in 2032; it is expected to grow at a CAGR of 3.2% from 2026 to 2032.
In 2024, global production of waste heat boilers (HRSGs) for gas turbines reached 2,109 units, with an average selling price of US$250,000 per unit.
HRSGs are heat exchangers that utilize heat from gas turbine exhaust to generate steam. By recovering the heat energy from high-temperature exhaust gas and converting it into steam, they improve the overall efficiency of the combined heat and power system and reduce fuel consumption and emissions.
The HRSG industry chain comprises upstream raw materials such as steel, steel pipes, steel plates, round steel, flat steel, and forgings; midstream is HRSG manufacturing; and downstream encompasses HRSGs and a wide range of industrial sectors, including metallurgy, papermaking, chemicals, and building materials machinery.
In the current market environment, gas turbine waste heat generators (HRSGs) are gaining increasing strategic importance. HRSGs effectively recover waste heat generated by gas turbines during power generation and convert it into usable thermal energy. This process not only improves overall energy efficiency but also provides additional support for data center cooling needs.
The market outlook for waste heat generators (HRSGs) in gas turbine applications is promising. With the increasing emphasis on energy efficiency and sustainability, HRSGs play a vital role in optimizing power generation. These devices recover waste heat from gas turbine exhaust, delivering significant economic and environmental benefits. The global shift toward clean energy and the demand for more efficient power generation methods further enhance the market potential for HRSGs. Furthermore, the growing demand for industrial steam across various industries is creating opportunities for HRSGs in applications such as combined heat and power (CHP) and district heating. Overall, driven by the pursuit of greater energy efficiency and sustainability, the HRSG market outlook is promising.
LP Information, Inc. (LPI) ' newest research report, the “Heat Recovery Steam Generator for Gas Turbines Industry Forecast” looks at past sales and reviews total world Heat Recovery Steam Generator for Gas Turbines sales in 2025, providing a comprehensive analysis by region and market sector of projected Heat Recovery Steam Generator for Gas Turbines sales for 2026 through 2032. With Heat Recovery Steam Generator for Gas Turbines sales broken down by region, market sector and sub-sector, this report provides a detailed analysis in US$ millions of the world Heat Recovery Steam Generator for Gas Turbines industry.
This Insight Report provides a comprehensive analysis of the global Heat Recovery Steam Generator for Gas Turbines landscape and highlights key trends related to product segmentation, company formation, revenue, and market share, latest development, and M&A activity. This report also analyzes the strategies of leading global companies with a focus on Heat Recovery Steam Generator for Gas Turbines portfolios and capabilities, market entry strategies, market positions, and geographic footprints, to better understand these firms’ unique position in an accelerating global Heat Recovery Steam Generator for Gas Turbines market.
This Insight Report evaluates the key market trends, drivers, and affecting factors shaping the global outlook for Heat Recovery Steam Generator for Gas Turbines and breaks down the forecast by Type, by Application, geography, and market size to highlight emerging pockets of opportunity. With a transparent methodology based on hundreds of bottom-up qualitative and quantitative market inputs, this study forecast offers a highly nuanced view of the current state and future trajectory in the global Heat Recovery Steam Generator for Gas Turbines.
This report presents a comprehensive overview, market shares, and growth opportunities of Heat Recovery Steam Generator for Gas Turbines market by product type, application, key manufacturers and key regions and countries.
Segmentation by Type:
Less Than 50 MW
50 MW-100 MW
Segmentation by Steam Pressure Level:
Single Pressure
Dual Pressure
Triple Pressure
Others
Segmentation by Application:
Power Generation
Industrial
Chemical Industry
Others
This report also splits the market by region:
Americas
United States
Canada
Mexico
Brazil
APAC
China
Japan
Korea
Southeast Asia
India
Australia
Europe
Germany
France
UK
Italy
Russia
Middle East & Africa
Egypt
South Africa
Israel
Turkey
GCC Countries
The below companies that are profiled have been selected based on inputs gathered from primary experts and analysing the company's coverage, product portfolio, its market penetration.
BHI
Thermax
Nooter Eriksen
CMI Energy
Clyde Bergemann
GE
Siemens
VOGT Power
STF
Babcock & Wilcox
Mitsubishi
Bharat Heavy Electricals
Wuxi Huaguang Environment&Energy
Xizi Clean Energy Equipment Manufacturing
HANGZHOU BOLIER GROUP INDUSTRIAL BOLIER
ZHENG GUO
SHANGHAI ELECTRIC
TAISHAN GROUP
DEVOTION EQUIPMENT
DONGFANG BOILER
SFGL
Key Questions Addressed in this Report
What is the 10-year outlook for the global Heat Recovery Steam Generator for Gas Turbines market?
What factors are driving Heat Recovery Steam Generator for Gas Turbines market growth, globally and by region?
Which technologies are poised for the fastest growth by market and region?
How do Heat Recovery Steam Generator for Gas Turbines market opportunities vary by end market size?
How does Heat Recovery Steam Generator for Gas Turbines break out by Type, by Application?
Please note: The report will take approximately 2 business days to prepare and deliver.
In 2024, global production of waste heat boilers (HRSGs) for gas turbines reached 2,109 units, with an average selling price of US$250,000 per unit.
HRSGs are heat exchangers that utilize heat from gas turbine exhaust to generate steam. By recovering the heat energy from high-temperature exhaust gas and converting it into steam, they improve the overall efficiency of the combined heat and power system and reduce fuel consumption and emissions.
The HRSG industry chain comprises upstream raw materials such as steel, steel pipes, steel plates, round steel, flat steel, and forgings; midstream is HRSG manufacturing; and downstream encompasses HRSGs and a wide range of industrial sectors, including metallurgy, papermaking, chemicals, and building materials machinery.
In the current market environment, gas turbine waste heat generators (HRSGs) are gaining increasing strategic importance. HRSGs effectively recover waste heat generated by gas turbines during power generation and convert it into usable thermal energy. This process not only improves overall energy efficiency but also provides additional support for data center cooling needs.
The market outlook for waste heat generators (HRSGs) in gas turbine applications is promising. With the increasing emphasis on energy efficiency and sustainability, HRSGs play a vital role in optimizing power generation. These devices recover waste heat from gas turbine exhaust, delivering significant economic and environmental benefits. The global shift toward clean energy and the demand for more efficient power generation methods further enhance the market potential for HRSGs. Furthermore, the growing demand for industrial steam across various industries is creating opportunities for HRSGs in applications such as combined heat and power (CHP) and district heating. Overall, driven by the pursuit of greater energy efficiency and sustainability, the HRSG market outlook is promising.
LP Information, Inc. (LPI) ' newest research report, the “Heat Recovery Steam Generator for Gas Turbines Industry Forecast” looks at past sales and reviews total world Heat Recovery Steam Generator for Gas Turbines sales in 2025, providing a comprehensive analysis by region and market sector of projected Heat Recovery Steam Generator for Gas Turbines sales for 2026 through 2032. With Heat Recovery Steam Generator for Gas Turbines sales broken down by region, market sector and sub-sector, this report provides a detailed analysis in US$ millions of the world Heat Recovery Steam Generator for Gas Turbines industry.
This Insight Report provides a comprehensive analysis of the global Heat Recovery Steam Generator for Gas Turbines landscape and highlights key trends related to product segmentation, company formation, revenue, and market share, latest development, and M&A activity. This report also analyzes the strategies of leading global companies with a focus on Heat Recovery Steam Generator for Gas Turbines portfolios and capabilities, market entry strategies, market positions, and geographic footprints, to better understand these firms’ unique position in an accelerating global Heat Recovery Steam Generator for Gas Turbines market.
This Insight Report evaluates the key market trends, drivers, and affecting factors shaping the global outlook for Heat Recovery Steam Generator for Gas Turbines and breaks down the forecast by Type, by Application, geography, and market size to highlight emerging pockets of opportunity. With a transparent methodology based on hundreds of bottom-up qualitative and quantitative market inputs, this study forecast offers a highly nuanced view of the current state and future trajectory in the global Heat Recovery Steam Generator for Gas Turbines.
This report presents a comprehensive overview, market shares, and growth opportunities of Heat Recovery Steam Generator for Gas Turbines market by product type, application, key manufacturers and key regions and countries.
Segmentation by Type:
Less Than 50 MW
50 MW-100 MW
Segmentation by Steam Pressure Level:
Single Pressure
Dual Pressure
Triple Pressure
Others
Segmentation by Application:
Power Generation
Industrial
Chemical Industry
Others
This report also splits the market by region:
Americas
United States
Canada
Mexico
Brazil
APAC
China
Japan
Korea
Southeast Asia
India
Australia
Europe
Germany
France
UK
Italy
Russia
Middle East & Africa
Egypt
South Africa
Israel
Turkey
GCC Countries
The below companies that are profiled have been selected based on inputs gathered from primary experts and analysing the company's coverage, product portfolio, its market penetration.
BHI
Thermax
Nooter Eriksen
CMI Energy
Clyde Bergemann
GE
Siemens
VOGT Power
STF
Babcock & Wilcox
Mitsubishi
Bharat Heavy Electricals
Wuxi Huaguang Environment&Energy
Xizi Clean Energy Equipment Manufacturing
HANGZHOU BOLIER GROUP INDUSTRIAL BOLIER
ZHENG GUO
SHANGHAI ELECTRIC
TAISHAN GROUP
DEVOTION EQUIPMENT
DONGFANG BOILER
SFGL
Key Questions Addressed in this Report
What is the 10-year outlook for the global Heat Recovery Steam Generator for Gas Turbines market?
What factors are driving Heat Recovery Steam Generator for Gas Turbines market growth, globally and by region?
Which technologies are poised for the fastest growth by market and region?
How do Heat Recovery Steam Generator for Gas Turbines market opportunities vary by end market size?
How does Heat Recovery Steam Generator for Gas Turbines break out by Type, by Application?
Please note: The report will take approximately 2 business days to prepare and deliver.
Table of Contents
155 Pages
- *This is a tentative TOC and the final deliverable is subject to change.*
- 1 Scope of the Report
- 2 Executive Summary
- 3 Global by Company
- 4 World Historic Review for Heat Recovery Steam Generator for Gas Turbines by Geographic Region
- 5 Americas
- 6 APAC
- 7 Europe
- 8 Middle East & Africa
- 9 Market Drivers, Challenges and Trends
- 10 Manufacturing Cost Structure Analysis
- 11 Marketing, Distributors and Customer
- 12 World Forecast Review for Heat Recovery Steam Generator for Gas Turbines by Geographic Region
- 13 Key Players Analysis
- 14 Research Findings and Conclusion
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