July 29,2021/IndustryNewsGlobal/ The unexpected shifts in the global markets because of the sudden outbreak of the COVID-19 virus have brought many major and minor tremors to industries of all sizes including the Heat Recovery Steam Generator Market.
Heat Recovery Steam Generator Market is likely to witness an impressive CAGR of 5.3% during the forecast period. Surge in utilization towards cogeneration technology along with growing investment towards generation capacity expansion is likely to drive the market growth.
Heat Recovery Steam Generator is an energy recovery heat exchanger used to recover heat from a hot gas stream such as combustion turbine, or waste gas stream. The market is segmented by Design Type into horizontal drum and vertical drum; by rated power into 0-30 MW, >30-50 MW, >50-100 MW, >200 MW; by mode of operation into cogeneration and combined cycle; and by application type into utilities, commercial, chemicals, and refineries.
This report studies the market covering a period of 12 years of trend and forecast. The report provides detailed insights into the market dynamics to enable informed business decision making and growth strategy formulation based on the opportunities present in the market.
Based on the design type, the market is segmented as horizontal drum and vertical drum. The horizontal drum segment is projected to be the larger segment of the market during the forecast period driven by ease of compatibility and lower capital expenditure. Continuous technological development along with healthy growth in combine cycle plants will drive the market for the horizontal drum segment.
Based on the application type, the market is segmented as utilities, commercial, chemicals, refineries, pulp & paper, and others. The utilities segment is projected to remain the largest segment of the market. Development of thermal power generating station along with increased focus towards sustainable energy sources is likely to drive the market growth.
In terms of regions, Asia-Pacific is estimated to be the most lucrative market led by China, Japan, and India. Expanding industrial sector, rapid urbanization, significant economic development in the region, and increased focus towards sustainable source of energy are the major factors driving the growth of the Asia-Pacific’s market. North America and Europe are also expected to offer substantial growth opportunities during the forecast period.
Key Players:
- John Wood
- Kawasaki
- B&W
- Larsen & Turbo
- BHEL
- Cleaver-Brooks
- Clayton
- John Cockerill
- Mitsubishi
- GE
- Siemens
- AC Boilers
- Rentech
- Thermax
- Kelvion
- Hamon.
Features of the Report
This report offers high-quality insights and is the outcome of detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders and validation and triangulation with Stratview Research’s internal database and statistical tools.
The Heat Recovery Steam Generator Market analysis report discusses the following heads in great detail:
- Market structure: Overview, industry life cycle analysis, supply chain analysis
- COVID-19 Impact Assessment
- Market environment analysis: Growth drivers and constraints, Porter’s five forces analysis, SWOT analysis
- Market trend and forecast analysis
- Market segment trend and forecast
- Competitive landscape and dynamics: Market share, product portfolio, product launches, etc.
- Attractive market segments and associated growth opportunities
- Emerging trends
- Strategic growth opportunities for the existing and new players
- Key success factors