廢熱回收蒸汽產生器市場規模、佔有率和成長分析（按設計、額定功率、運作模式、最終用戶和地區分類）－2026-2033年產業預測

預計到 2024 年，餘熱回收蒸汽產生器市場規模將達到 8.6278 億美元，到 2025 年將達到 8.9298 億美元，到 2033 年將達到 11.7588 億美元，預測期（2026-2033 年）的複合成長率為 3.5%。

由於能源成本上升、有利於環境永續性的法規結構以及技術進步帶來的資本支出減少等因素，餘熱回收蒸汽產生器市場正經歷顯著成長。這些發生器能夠最大限度地減少碳排放並生產清潔能源，因此對注重能源效率的公司越來越有吸引力。此外，能源消費量的成長以及對溫室氣體排放的擔憂，正在推動對能夠提高效率和永續性的先進能源系統的需求。汽電共生技術的應用在該市場中發揮關鍵作用，因為餘熱回收蒸汽產生器能夠顯著提高聯合循環發電廠的經濟性和運作性能。管道和管件等關鍵部件對於組裝這些發生器至關重要，並推動著市場動態。

熱回收蒸汽產生器市場促進因素

向清潔能源來源的轉型日益加速，是餘熱回收蒸汽產生器市場的主要驅動力。與傳統的火力發電相比，這些清潔能源替代方案具有更高的柔軟性、效率、可靠性和先進技術，而傳統的火力發電由於碳排放量高​​，對環境造成了負面影響，並加劇了全球暖化。可再生能源的日益普及正在加速聯合循環發電廠和熱電汽電共生系統的推廣應用。因此，全球對可再生能源計劃的投資不斷成長，吸引了大量資金，進一步刺激了對餘熱回收蒸汽產生器的需求。

廢熱回收蒸汽產生器市場的限制因素

由於該技術涉及高昂的初始投資和營運成本，餘熱回收蒸汽產生器市場的擴張面臨嚴峻挑戰。這些發生器包含複雜的熱交換系統，包括節熱器、過熱器和蒸發器，所有這些設備的安裝都需要大量資金。此外，為了最佳化從燃氣渦輪機廢氣中提取能量，需要採用高壓迴路，這進一步增加了設計的複雜性，並提高了運行要求。雖然蒸氣渦輪的功率輸出會隨著壓力的增加而增加，但相關的運行成本也會隨之增加，這可能會阻礙整個市場的成長。因此，資金壓力可能會限制這些系統在各行業的應用。

熱回收蒸汽產生器市場趨勢

由於提高能源效率和減少環境影響的迫切需求，餘熱回收蒸氣發生器（HRSG）市場呈現顯著成長趨勢。隨著全球電力需求的不斷成長，各國政府和企業都在大規模投資清潔能源技術，以應對排放的溫室氣體減排需求。 HRSG在這項轉型過程中發揮關鍵作用，它能夠最佳化聯合循環發電廠的熱效率，回收廢熱並將其轉化為可用能源。因此，隨著企業尋求永續且合規的能源解決方案，汽電共生系統的日益普及以及日益嚴格的排放法規正在推動HRSG市場的成長。

目錄

介紹

• 調查目標
• 調查範圍
• 定義

調查方法

• 資訊收集
• 二手資料和一手資料方法
• 市場規模預測
• 市場假設與限制

執行摘要

• 全球市場展望
• 供需趨勢分析
• 細分市場機會分析

市場動態與展望

• 市場規模
• 市場動態
  • 促進因素和機遇
  • 限制與挑戰
• 波特分析及其影響

關鍵市場考察

• 關鍵成功因素
• 競爭程度
• 關鍵投資機會
• 市場生態系統
• 技術進步
• 監管環境
• 價值鏈分析
• PESTEL 分析
• 市場吸引力指數
• 供應鏈分析

全球餘熱回收蒸汽產生器市場規模（按類型和複合年成長率分類）（2026-2033 年）

• 水平滾筒
• 直立式滾筒

全球餘熱回收蒸汽產生器市場規模（額定功率和複合年成長率分類）（2026-2033 年）

• 30兆瓦或以下
• 31～100 MW
• 101～200 MW
• 201～300MW
• 超過300兆瓦

全球餘熱回收蒸汽產生器市場規模（按運作模式和複合年成長率分類）（2026-2033 年）

• 汽電共生
• 熱電聯產
• 複合循環

全球餘熱回收蒸汽產生器市場規模（按最終用戶分類）及複合年成長率（2026-2033 年）

• 商業的
• 化學
• 煉油廠
• 公共產業
• 紙漿和造紙
• 其他

全球餘熱回收蒸汽產生器市場規模及複合年成長率（2026-2033）

• 北美洲
  • 美國
  • 加拿大
• 歐洲
  • 英國
  • 德國
  • 西班牙
  • 法國
  • 義大利
  • 其他歐洲地區
• 亞太地區
  • 中國
  • 印度
  • 日本
  • 韓國
  • 亞太其他地區
• 拉丁美洲
  • 巴西
  • 其他拉丁美洲地區
• 中東和非洲
  • 海灣合作理事會國家
  • 南非
  • 其他中東和非洲地區

競爭資訊

• 前五大公司對比
• 主要企業的市場定位（2025 年）
• 主要市場參與者所採取的策略
• 近期市場趨勢
• 公司市佔率分析（2025 年）
• 主要企業公司簡介
  • 公司詳情
  • 產品系列分析
  • 依業務板塊進行公司股票分析
  • 2021-2023年營收年比比較

主要企業簡介

• MITSUBISHI HEAVY INDUSTRIES, LTD.
• Thermax Limited.
• GE Vernova and/or its affiliates.
• Bharat Heavy Electricals Limited
• LARSEN & TOUBRO LIMITED.
• Isgec Heavy Engineering Ltd.
• Kawasaki Heavy Industries, Ltd.
• Siemens Heat Transfer Technology（Siemens）
• John Cockerill.
• BHI Co., Ltd.
• Alstom SA
• Rentech Boiler Systems, Inc.
• CN CO., LTD.
• Mutares SE & Co. KGaA
• Babcock & Wilcox
• CMI Group
• Doosan Heavy Industries & Construction
• Nooter/Eriksen
• Foster Wheeler AG
• Alstom Power

結論與建議

Heat Recovery Steam Generator Market size was valued at USD 862.78 Million in 2024 and is poised to grow from USD 892.98 Million in 2025 to USD 1175.88 Million by 2033, growing at a CAGR of 3.5% during the forecast period (2026-2033).

The Heat Recovery Steam Generator market is experiencing significant growth driven by factors such as escalating energy costs, favorable regulatory frameworks promoting environmental sustainability, and declining capital expenditures due to technological advancements. Their ability to minimize carbon footprints and produce clean energy is making these generators increasingly appealing to energy-conscious businesses. Additionally, the rise in energy consumption coupled with concerns over greenhouse gas emissions is fueling demand for advanced energy systems that enhance efficiency and sustainability. The adoption of cogeneration technology plays a pivotal role in this market, as heat recovery steam generators significantly improve the economic and operational performance of combined cycle power plants. Key components including pipes and tubes are essential for the assembly of these generators, driving market dynamics.

Top-down and bottom-up approaches were used to estimate and validate the size of the Heat Recovery Steam Generator market and to estimate the size of various other dependent submarkets. The research methodology used to estimate the market size includes the following details: The key players in the market were identified through secondary research, and their market shares in the respective regions were determined through primary and secondary research. This entire procedure includes the study of the annual and financial reports of the top market players and extensive interviews for key insights from industry leaders such as CEOs, VPs, directors, and marketing executives. All percentage shares split, and breakdowns were determined using secondary sources and verified through Primary sources. All possible parameters that affect the markets covered in this research study have been accounted for, viewed in extensive detail, verified through primary research, and analyzed to get the final quantitative and qualitative data.

Heat Recovery Steam Generator Market Segments Analysis

Global Heat Recovery Steam Generator Market is segmented by Design, Power Rating, Mode of Operation, End-user and region. Based on Design, the market is segmented into Horizontal Drum Units, Vertical Drum Units, Horizontal-Once-Through Units. Based on Power Rating, the market is segmented into Up to 30 MW, 31 MW - 100 MW, Above 100 MW. Based on Mode of Operation, the market is segmented into Cogeneration, Combined Heat & Power, Combined Cycle. Based on end user, the market is segmented into Utility, Chemicals, Refineries, Pulp & Paper. Based on region, the market is segmented into North America, Europe, Asia Pacific, Latin America and Middle East & and Africa.

Driver of the Heat Recovery Steam Generator Market

The increasing shift towards clean energy sources is a key driver of the Heat Recovery Steam Generator market. These clean energy alternatives offer enhanced flexibility, impressive efficiency, reliability, and advanced technology compared to traditional thermal power generation, which has been detrimental to the environment through elevated carbon emissions and contributions to global warming. As renewable energy becomes more prevalent, the adoption of combined cycle power plants and cogeneration systems for electricity production has intensified. Consequently, the growing investments in renewable energy projects attract substantial funding globally, further stimulating demand within the market for Heat Recovery Steam Generators.

Restraints in the Heat Recovery Steam Generator Market

The expansion of the Heat Recovery Steam Generator market faces significant challenges due to high initial investment and maintenance costs associated with the technology. These generators consist of complex heat exchange systems that include economizers, super-heaters, and evaporators, all of which require substantial capital for setup. Additionally, the incorporation of high-pressure circuits to optimize energy extraction from gas turbine exhaust further complicates the design and increases operational demands. As the steam turbine's output improves with higher pressure, the associated maintenance expenses also rise, potentially hindering broader market growth. Consequently, financial pressures may limit the adoption of these systems in various industries.

Market Trends of the Heat Recovery Steam Generator Market

The Heat Recovery Steam Generator (HRSG) market is witnessing a notable upward trend driven by the urgent need to enhance energy efficiency and mitigate environmental impacts. As global electricity demand escalates, the imperative to reduce greenhouse gas emissions prompts governments and industries to invest heavily in cleaner energy technologies. HRSGs play a crucial role in this shift by optimizing the thermal efficiency of combined cycle power plants, enabling the recovery of waste heat and its conversion into usable energy. Consequently, the rising adoption of cogeneration systems, coupled with stringent emissions regulations, is propelling the growth of the HRSG market as businesses seek sustainable and compliant energy solutions.

Table of Contents

Introduction

• Objectives of the Study
• Scope of the Report
• Definitions

Research Methodology

• Information Procurement
• Secondary & Primary Data Methods
• Market Size Estimation
• Market Assumptions & Limitations

Executive Summary

• Global Market Outlook
• Supply & Demand Trend Analysis
• Segmental Opportunity Analysis

Market Dynamics & Outlook

• Market Overview
• Market Size
• Market Dynamics
  • Driver & Opportunities
  • Restraints & Challenges
• Porters Analysis & Impact
  • Competitive rivalry
  • Threat of substitute
  • Bargaining power of buyers
  • Threat of new entrants
  • Bargaining power of suppliers

Key Market Insights

• Key Success Factors
• Degree of Competition
• Top Investment Pockets
• Market Ecosystem
• Technological Advancement
• Regulatory Landscape
• Value Chain Analysis
• PESTEL Analysis
• Market Attractiveness Index
• Supply Chain Analysis

Global Heat Recovery Steam Generator Market Size by Design & CAGR (2026-2033)

• Market Overview
• Horizontal Drum
• Vertical Drum

Global Heat Recovery Steam Generator Market Size by Power Rating & CAGR (2026-2033)

• Market Overview
• Up to 30 MW
• 31 to 100 MW
• 101 to 200 MW
• 201 to 300 MW
• Above 300 MW

Global Heat Recovery Steam Generator Market Size by Mode of Operation & CAGR (2026-2033)

• Market Overview
• Cogeneration
• Combined Heat & Power
• Combined Cycle

Global Heat Recovery Steam Generator Market Size by End-user & CAGR (2026-2033)

• Market Overview
• Commercial
• Chemical
• Refineries
• Utilities
• Pulp & Paper
• Other

Global Heat Recovery Steam Generator Market Size & CAGR (2026-2033)

• North America, (Design, Power Rating, Mode of Operation, End-user)
  • US
  • Canada
• Europe, (Design, Power Rating, Mode of Operation, End-user)
  • UK
  • Germany
  • Spain
  • France
  • Italy
  • Rest of Europe
• Asia-Pacific, (Design, Power Rating, Mode of Operation, End-user)
  • China
  • India
  • Japan
  • South Korea
  • Rest of Asia Pacific
• Latin America, (Design, Power Rating, Mode of Operation, End-user)
  • Brazil
  • Rest of Latin America
• Middle East & Africa, (Design, Power Rating, Mode of Operation, End-user)
  • GCC Countries
  • South Africa
  • Rest of Middle East & Africa

Competitive Intelligence

• Top 5 Player Comparison
• Market Positioning of Key Players, 2025
• Strategies Adopted by Key Market Players
• Recent Developments in the Market
• Company Market Share Analysis, 2025
• Company Profiles of All Key Players
  • Company Details
  • Product Portfolio Analysis
  • Company's Segmental Share Analysis
  • Revenue Y-O-Y Comparison (2021-2023)

Key Company Profiles

• MITSUBISHI HEAVY INDUSTRIES, LTD.
  • Company Overview
  • Business Segment Overview
  • Financial Updates
  • Key Developments
• Thermax Limited.
  • Company Overview
  • Business Segment Overview
  • Financial Updates
  • Key Developments
• GE Vernova and/or its affiliates.
  • Company Overview
  • Business Segment Overview
  • Financial Updates
  • Key Developments
• Bharat Heavy Electricals Limited
  • Company Overview
  • Business Segment Overview
  • Financial Updates
  • Key Developments
• LARSEN & TOUBRO LIMITED.
  • Company Overview
  • Business Segment Overview
  • Financial Updates
  • Key Developments
• Isgec Heavy Engineering Ltd.
  • Company Overview
  • Business Segment Overview
  • Financial Updates
  • Key Developments
• Kawasaki Heavy Industries, Ltd.
  • Company Overview
  • Business Segment Overview
  • Financial Updates
  • Key Developments
• Siemens Heat Transfer Technology (Siemens)
  • Company Overview
  • Business Segment Overview
  • Financial Updates
  • Key Developments
• John Cockerill.
  • Company Overview
  • Business Segment Overview
  • Financial Updates
  • Key Developments
• BHI Co., Ltd.
  • Company Overview
  • Business Segment Overview
  • Financial Updates
  • Key Developments
• Alstom SA
  • Company Overview
  • Business Segment Overview
  • Financial Updates
  • Key Developments
• Rentech Boiler Systems, Inc.
  • Company Overview
  • Business Segment Overview
  • Financial Updates
  • Key Developments
• CN CO., LTD.
  • Company Overview
  • Business Segment Overview
  • Financial Updates
  • Key Developments
• Mutares SE & Co. KGaA
  • Company Overview
  • Business Segment Overview
  • Financial Updates
  • Key Developments
• Babcock & Wilcox
  • Company Overview
  • Business Segment Overview
  • Financial Updates
  • Key Developments
• CMI Group
  • Company Overview
  • Business Segment Overview
  • Financial Updates
  • Key Developments
• Doosan Heavy Industries & Construction
  • Company Overview
  • Business Segment Overview
  • Financial Updates
  • Key Developments
• Nooter/Eriksen
  • Company Overview
  • Business Segment Overview
  • Financial Updates
  • Key Developments
• Foster Wheeler AG
  • Company Overview
  • Business Segment Overview
  • Financial Updates
  • Key Developments
• Alstom Power
  • Company Overview
  • Business Segment Overview
  • Financial Updates
  • Key Developments

Conclusion & Recommendation