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市場調查報告書
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1941329

餘熱回收蒸汽產生器市場報告：按設計、功率輸出、應用、最終用戶和地區分類（2026-2034 年）

Heat Recovery Steam Generator Market Report by Design, Power Rating, Application, End User, and Region 2026-2034
出版日期: | 出版商: IMARC | 英文 147 Pages | 商品交期: 2-3個工作天內

價格

2025年，全球餘熱回收蒸汽產生器市場規模達14億美元。展望未來，IMARC Group預測，到2034年，該市場規模將達到19億美元，2026年至2034年的複合年成長率（CAGR）為3.63%。市場穩步成長的原因包括：人們對工業過程對環境的有害影響的認知不斷提高、工業設施能源需求不斷成長以及為減少碳足跡而日益多元化的能源來源結構。

餘熱回收蒸汽產生器市場趨勢：

人們對能源效率的興趣日益濃厚

在快速發展的工業格局中，能源效率已成為關鍵問題。降低能耗和減少環境影響正成為各行各業企業的首要任務。這種對永續發展的永續性重視推動了對節能解決方案的需求，例如餘熱回收蒸汽產生器（HRSG）系統。 HRSG系統旨在回收和再利用工業生產和發電過程中產生的廢熱。隨著企業致力於減少碳足跡和降低營運成本，HRSG系統提供了極具吸引力的解決方案。它們不僅有助於節能，還能幫助企業滿足嚴格的排放法規。 HRSG系統可降低燃料消耗和營運成本。這種成本效益使HRSG系統成為那些希望最佳化營運並同時為環境保護做出貢獻的企業的理想選擇。此外，人們對工業生產過程對環境的有害影響的認知不斷提高，也促進了市場成長。

聯合循環發電廠的推廣應用日益廣泛

全球向清潔能源來源轉型以及日益成長的電力需求正在推動聯合循環發電廠的普及。這些先進的設施同時利用燃氣渦輪機和蒸氣渦輪高效發電。餘熱回收蒸汽發生器（HRSG）在其中發揮關鍵作用，它回收燃氣渦輪機排氣中的廢熱並將其轉化為蒸氣，驅動蒸氣渦輪發電。這種整合式方法顯著提高了聯合循環發電廠的整體發電效率。隨著世界各國政府大力推動清潔能源轉型，配備HRSG系統的聯合循環發電廠正變得越來越有吸引力。 HRSG技術與減少溫室氣體排放和提供可靠電力供應的目標完美契合。因此，由於HRSG與綠能生產密切相關，其需求正在不斷成長。隨著越來越多的國家採用永續能源解決方案，預計這一趨勢將持續下去，並進一步推動對HRSG系統的需求。

工業擴張和基礎設施發展

經濟成長和都市化推動了對可靠發電解決方案的需求。餘熱鍋爐（HRSG）系統不僅應用於傳統發電廠，也廣泛應用於石油天然氣、化學和製造業等多個工業領域。在這些領域，HRSG機組用於蒸氣生產和蒸氣能源回收。 HRSG系統利用廢熱有效率地為各種工業流程提供蒸氣。這不僅降低了能源成本，還有助於實現更永續、更環保的營運。工業設施和基礎設施計劃的持續擴張凸顯了HRSG系統的重要性，使企業能夠在滿足能源需求的同時，有效遵守嚴格的環境法規。此外，HRSG技術的通用性使其能夠適應廣泛的工業應用。

目錄

第1章：序言

第2章：調查範圍與調查方法

  • 調查目標
  • 相關利益者
  • 數據來源
    • 主要訊息
    • 二手資訊
  • 市場估值
    • 自下而上的方法
    • 自上而下的方法
  • 調查方法

第3章執行摘要

第4章 引言

第5章 全球餘熱回收蒸汽產生器市場

  • 市場概覽
  • 市場表現
  • 新冠疫情的影響
  • 市場預測

第6章 市場區隔：人為設計

  • 水平滾筒
  • 直立式滾筒

第7章 按產量分類的市場區隔

  • 30 MW
  • 31MW～100MW
  • 100 MW

第8章 按應用分類的市場細分

  • 汽電共生
  • 複合循環

第9章 依最終用戶分類的市場細分

  • 公共產業
  • 化學品
  • 煉油廠
  • 紙漿和造紙
  • 其他

第10章 按地區分類的市場細分

  • 北美洲
    • 美國
    • 加拿大
  • 亞太地區
    • 中國
    • 日本
    • 印度
    • 韓國
    • 澳洲
    • 印尼
    • 其他
  • 歐洲
    • 德國
    • 法國
    • 英國
    • 義大利
    • 西班牙
    • 俄羅斯
    • 其他
  • 拉丁美洲
    • 巴西
    • 墨西哥
    • 其他
  • 中東和非洲

第11章 促進因素、限制因素與機遇

第12章 價值鏈分析

第13章 波特五力分析

第14章：定價分析

第15章 競爭格局

  • 市場結構
  • 主要企業
  • 主要企業簡介
    • AC Boilers SPA（Sofinter SpA）
    • 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 BV
    • Rentech Boilers Systems Inc.
    • Thermax Limited
Product Code: SR112026A8232

The global heat recovery steam generator market size reached USD 1.4 Billion in 2025. Looking forward, IMARC Group expects the market to reach USD 1.9 Billion by 2034, exhibiting a growth rate (CAGR) of 3.63% during 2026-2034. 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:

Breakup by Design:

  • Horizontal Drum
  • Vertical Drum

Horizontal drum accounts for the majority of the market share

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

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 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 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.

Key Regional Takeaways:

Asia Pacific Heat Recovery Steam Generator Market Analysis

The Asia Pacific region is experiencing a consistent uptake of Heat Recovery Steam Generators owing to the rising industrialization and escalating energy needs in manufacturing, power generation, and industrial processing industries. Countries are focusing on optimized energy use and the combination of renewable with traditional power plants, fueling the installation of HRSG systems. The market is helped by increasing infrastructure projects, upgradation of existing power plants, and growing awareness of sustainable energy solutions. Chemicals, pulp and paper, and metallurgy industries are increasingly adopting HRSG technology to maximize energy efficiency and save operational costs. Also, government policies favorable to energy recovery efforts, environmental sustainability, and emission cuts are further strengthening the adoption drive. With improved efficiency, durability, and scalability made possible by technological developments, the Asia Pacific Heat Recovery Steam Generator market will witness extensive use in commercial and industrial facilities to make the region a primary driver of global HRSG installations.

Europe Heat Recovery Steam Generator Market Analysis

Europe is a mature market for HRSGs, propelled by high awareness of energy efficiency, decarbonization, and green industrial practice. Industrial applications, such as power generation, chemicals, and refining, are placing investments in HRSG systems for waste heat recovery, overall plant efficiency improvement, and reducing energy consumption. The country's shift towards combined heat and power (CHP) plants and interconnectedness with renewable power sources further supports the adoption of HRSG systems. Regulatory policies supporting energy optimization, emissions reduction, and integration of renewables support a healthy market growth environment. Upgrades and modernization of existing plants with newer HRSG technology are common throughout Europe, facilitating improved operational efficiency and adherence to strict environmental regulations. Europe's focus on research, development, and innovation for energy systems ensures that the Heat Recovery Steam Generator market continues to develop with innovative solutions, cementing its strategic value in industrial and power generation uses.

North America Heat Recovery Steam Generator Market Analysis

North America demonstrates strong momentum in the Heat Recovery Steam Generator market due to continuous industrial expansion and emphasis on energy-saving solutions. Power plants, oil and gas platforms, and industrial complexes are increasingly implementing HRSG systems to maximize energy recovery, minimize fuel consumption, and lower emissions. The move towards cleaner and more efficient combined cycle power generation also drives market growth. HRSG design and operation technological innovation facilitates integration with various energy systems to address sustainability objectives and efficiency of operation. Incentives and policies that foster efficient energy use and environmental responsibility enhance adoption on the continent. North America's emphasis on the refurbishment of old facilities and capital investment in industrial-scale infrastructure also facilitates large-scale deployment of HRSG solutions. The market is observing consistent growth due to a balance of energy efficiency needs, industrial drive, and improvement in heat recovery technologies.

Latin America Heat Recovery Steam Generator Market Analysis

Latin America is observing increasing demand for Heat Recovery Steam Generator technology as industries try to achieve energy maximization and curtail operational expenditure. Power generation, petrochemical, and industrial processes are increasingly using HRSG systems to achieve better efficiency and enable sustainable approaches. Demand is spurred by efforts to upgrade old infrastructure and incorporate advanced energy recovery technology. Industrial growth and increasing energy demand in the major countries are stimulating investment in waste heat-to-useful-energy conversion systems. Emphasis on fuel independence and general plant performance improvement makes HRSGs a strategic fit for Latin American industry. Cost-effective opportunities combined with technological advancements also encourage adoption. As industrial development turns to energy efficiency, Latin America is experiencing consistent increases in HRSG uptake, in conformity with regional goals of operational efficiency and long-term sustainability.

Middle East and Africa Heat Recovery Steam Generator Market Analysis

The Middle East and Africa market is increasingly embracing Heat Recovery Steam Generator technology to counter increasing energy demand as well as industrial efficiency. The oil and gas, petrochemical, and power generation industries increasingly employ HRSG systems to maximize heat recovery and increase energy efficiency. Large industrial projects and efforts to upgrade currently operating power plants drive adoption. The region's emphasis on sustainable energy practices, emissions reduction, and operational efficiency is aligned with HRSG deployment trends. Technological advancements in durability, modularity, and scalability enable HRSG systems to address a range of industrial needs. In addition, investments in development of infrastructure and energy-intensive processes provide scope for heat recovery integration. Heat Recovery Steam Generator market of Middle East and Africa is expected to witness sustained growth as industrial players focus on optimization of energy, cost-effectiveness, and sustainability by utilizing innovative HRSG technologies for improved performance.

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

Key Questions Answered in This Report

  • 1.How big is the heat recovery steam generator market?
  • 2.What is the future outlook of heat recovery steam generator market?
  • 3.What are the key factors driving the heat recovery steam generator market?
  • 4.Which region accounts for the largest heat recovery steam generator market share?
  • 5.Which are the leading 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

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 USD), 2020-2025
  • Figure 3: Global: Heat Recovery Steam Generator Market Forecast: Sales Value (in Billion USD), 2026-2034
  • Figure 4: Global: Heat Recovery Steam Generator Market: Breakup by Design (in %), 2025
  • Figure 5: Global: Heat Recovery Steam Generator Market: Breakup by Power Rating (in %), 2025
  • Figure 6: Global: Heat Recovery Steam Generator Market: Breakup by Application (in %), 2025
  • Figure 7: Global: Heat Recovery Steam Generator Market: Breakup by End User (in %), 2025
  • Figure 8: Global: Heat Recovery Steam Generator Market: Breakup by Region (in %), 2025
  • Figure 9: Global: Heat Recovery Steam Generator (Horizontal Drum) Market: Sales Value (in Million USD), 2020 & 2025
  • Figure 10: Global: Heat Recovery Steam Generator (Horizontal Drum) Market Forecast: Sales Value (in Million USD), 2026-2034
  • Figure 11: Global: Heat Recovery Steam Generator (Vertical Drum) Market: Sales Value (in Million USD), 2020 & 2025
  • Figure 12: Global: Heat Recovery Steam Generator (Vertical Drum) Market Forecast: Sales Value (in Million USD), 2026-2034
  • Figure 13: Global: Heat Recovery Steam Generator (30 MW) Market: Sales Value (in Million USD), 2020 & 2025
  • Figure 14: Global: Heat Recovery Steam Generator (30 MW) Market Forecast: Sales Value (in Million USD), 2026-2034
  • Figure 15: Global: Heat Recovery Steam Generator (31 MW - 100 MW) Market: Sales Value (in Million USD), 2020 & 2025
  • Figure 16: Global: Heat Recovery Steam Generator (31 MW - 100 MW) Market Forecast: Sales Value (in Million USD), 2026-2034
  • Figure 17: Global: Heat Recovery Steam Generator (100 MW) Market: Sales Value (in Million USD), 2020 & 2025
  • Figure 18: Global: Heat Recovery Steam Generator (100 MW) Market Forecast: Sales Value (in Million USD), 2026-2034
  • Figure 19: Global: Heat Recovery Steam Generator (Cogeneration) Market: Sales Value (in Million USD), 2020 & 2025
  • Figure 20: Global: Heat Recovery Steam Generator (Cogeneration) Market Forecast: Sales Value (in Million USD), 2026-2034
  • Figure 21: Global: Heat Recovery Steam Generator (Combined Cycle) Market: Sales Value (in Million USD), 2020 & 2025
  • Figure 22: Global: Heat Recovery Steam Generator (Combined Cycle) Market Forecast: Sales Value (in Million USD), 2026-2034
  • Figure 23: Global: Heat Recovery Steam Generator (Utility) Market: Sales Value (in Million USD), 2020 & 2025
  • Figure 24: Global: Heat Recovery Steam Generator (Utility) Market Forecast: Sales Value (in Million USD), 2026-2034
  • Figure 25: Global: Heat Recovery Steam Generator (Chemicals) Market: Sales Value (in Million USD), 2020 & 2025
  • Figure 26: Global: Heat Recovery Steam Generator (Chemicals) Market Forecast: Sales Value (in Million USD), 2026-2034
  • Figure 27: Global: Heat Recovery Steam Generator (Refineries) Market: Sales Value (in Million USD), 2020 & 2025
  • Figure 28: Global: Heat Recovery Steam Generator (Refineries) Market Forecast: Sales Value (in Million USD), 2026-2034
  • Figure 29: Global: Heat Recovery Steam Generator (Pulp and Paper) Market: Sales Value (in Million USD), 2020 & 2025
  • Figure 30: Global: Heat Recovery Steam Generator (Pulp and Paper) Market Forecast: Sales Value (in Million USD), 2026-2034
  • Figure 31: Global: Heat Recovery Steam Generator (Other End Users) Market: Sales Value (in Million USD), 2020 & 2025
  • Figure 32: Global: Heat Recovery Steam Generator (Other End Users) Market Forecast: Sales Value (in Million USD), 2026-2034
  • Figure 33: North America: Heat Recovery Steam Generator Market: Sales Value (in Million USD), 2020 & 2025
  • Figure 34: North America: Heat Recovery Steam Generator Market Forecast: Sales Value (in Million USD), 2026-2034
  • Figure 35: United States: Heat Recovery Steam Generator Market: Sales Value (in Million USD), 2020 & 2025
  • Figure 36: United States: Heat Recovery Steam Generator Market Forecast: Sales Value (in Million USD), 2026-2034
  • Figure 37: Canada: Heat Recovery Steam Generator Market: Sales Value (in Million USD), 2020 & 2025
  • Figure 38: Canada: Heat Recovery Steam Generator Market Forecast: Sales Value (in Million USD), 2026-2034
  • Figure 39: Asia-Pacific: Heat Recovery Steam Generator Market: Sales Value (in Million USD), 2020 & 2025
  • Figure 40: Asia-Pacific: Heat Recovery Steam Generator Market Forecast: Sales Value (in Million USD), 2026-2034
  • Figure 41: China: Heat Recovery Steam Generator Market: Sales Value (in Million USD), 2020 & 2025
  • Figure 42: China: Heat Recovery Steam Generator Market Forecast: Sales Value (in Million USD), 2026-2034
  • Figure 43: Japan: Heat Recovery Steam Generator Market: Sales Value (in Million USD), 2020 & 2025
  • Figure 44: Japan: Heat Recovery Steam Generator Market Forecast: Sales Value (in Million USD), 2026-2034
  • Figure 45: India: Heat Recovery Steam Generator Market: Sales Value (in Million USD), 2020 & 2025
  • Figure 46: India: Heat Recovery Steam Generator Market Forecast: Sales Value (in Million USD), 2026-2034
  • Figure 47: South Korea: Heat Recovery Steam Generator Market: Sales Value (in Million USD), 2020 & 2025
  • Figure 48: South Korea: Heat Recovery Steam Generator Market Forecast: Sales Value (in Million USD), 2026-2034
  • Figure 49: Australia: Heat Recovery Steam Generator Market: Sales Value (in Million USD), 2020 & 2025
  • Figure 50: Australia: Heat Recovery Steam Generator Market Forecast: Sales Value (in Million USD), 2026-2034
  • Figure 51: Indonesia: Heat Recovery Steam Generator Market: Sales Value (in Million USD), 2020 & 2025
  • Figure 52: Indonesia: Heat Recovery Steam Generator Market Forecast: Sales Value (in Million USD), 2026-2034
  • Figure 53: Others: Heat Recovery Steam Generator Market: Sales Value (in Million USD), 2020 & 2025
  • Figure 54: Others: Heat Recovery Steam Generator Market Forecast: Sales Value (in Million USD), 2026-2034
  • Figure 55: Europe: Heat Recovery Steam Generator Market: Sales Value (in Million USD), 2020 & 2025
  • Figure 56: Europe: Heat Recovery Steam Generator Market Forecast: Sales Value (in Million USD), 2026-2034
  • Figure 57: Germany: Heat Recovery Steam Generator Market: Sales Value (in Million USD), 2020 & 2025
  • Figure 58: Germany: Heat Recovery Steam Generator Market Forecast: Sales Value (in Million USD), 2026-2034
  • Figure 59: France: Heat Recovery Steam Generator Market: Sales Value (in Million USD), 2020 & 2025
  • Figure 60: France: Heat Recovery Steam Generator Market Forecast: Sales Value (in Million USD), 2026-2034
  • Figure 61: United Kingdom: Heat Recovery Steam Generator Market: Sales Value (in Million USD), 2020 & 2025
  • Figure 62: United Kingdom: Heat Recovery Steam Generator Market Forecast: Sales Value (in Million USD), 2026-2034
  • Figure 63: Italy: Heat Recovery Steam Generator Market: Sales Value (in Million USD), 2020 & 2025
  • Figure 64: Italy: Heat Recovery Steam Generator Market Forecast: Sales Value (in Million USD), 2026-2034
  • Figure 65: Spain: Heat Recovery Steam Generator Market: Sales Value (in Million USD), 2020 & 2025
  • Figure 66: Spain: Heat Recovery Steam Generator Market Forecast: Sales Value (in Million USD), 2026-2034
  • Figure 67: Russia: Heat Recovery Steam Generator Market: Sales Value (in Million USD), 2020 & 2025
  • Figure 68: Russia: Heat Recovery Steam Generator Market Forecast: Sales Value (in Million USD), 2026-2034
  • Figure 69: Others: Heat Recovery Steam Generator Market: Sales Value (in Million USD), 2020 & 2025
  • Figure 70: Others: Heat Recovery Steam Generator Market Forecast: Sales Value (in Million USD), 2026-2034
  • Figure 71: Latin America: Heat Recovery Steam Generator Market: Sales Value (in Million USD), 2020 & 2025
  • Figure 72: Latin America: Heat Recovery Steam Generator Market Forecast: Sales Value (in Million USD), 2026-2034
  • Figure 73: Brazil: Heat Recovery Steam Generator Market: Sales Value (in Million USD), 2020 & 2025
  • Figure 74: Brazil: Heat Recovery Steam Generator Market Forecast: Sales Value (in Million USD), 2026-2034
  • Figure 75: Mexico: Heat Recovery Steam Generator Market: Sales Value (in Million USD), 2020 & 2025
  • Figure 76: Mexico: Heat Recovery Steam Generator Market Forecast: Sales Value (in Million USD), 2026-2034
  • Figure 77: Others: Heat Recovery Steam Generator Market: Sales Value (in Million USD), 2020 & 2025
  • Figure 78: Others: Heat Recovery Steam Generator Market Forecast: Sales Value (in Million USD), 2026-2034
  • Figure 79: Middle East and Africa: Heat Recovery Steam Generator Market: Sales Value (in Million USD), 2020 & 2025
  • Figure 80: Middle East and Africa: Heat Recovery Steam Generator Market: Breakup by Country (in %), 2025
  • Figure 81: Middle East and Africa: Heat Recovery Steam Generator Market Forecast: Sales Value (in Million USD), 2026-2034
  • 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, 2025 & 2034
  • Table 2: Global: Heat Recovery Steam Generator Market Forecast: Breakup by Design (in Million USD), 2026-2034
  • Table 3: Global: Heat Recovery Steam Generator Market Forecast: Breakup by Power Rating (in Million USD), 2026-2034
  • Table 4: Global: Heat Recovery Steam Generator Market Forecast: Breakup by Application (in Million USD), 2026-2034
  • Table 5: Global: Heat Recovery Steam Generator Market Forecast: Breakup by End User (in Million USD), 2026-2034
  • Table 6: Global: Heat Recovery Steam Generator Market Forecast: Breakup by Region (in Million USD), 2026-2034
  • Table 7: Global: Heat Recovery Steam Generator Market: Competitive Structure
  • Table 8: Global: Heat Recovery Steam Generator Market: Key Players