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2030214

餘熱回收蒸汽產生器市場－全球產業規模、佔有率、趨勢、機會、預測：按設計、應用、產量、最終用戶、地區和競爭格局分類，2021-2031年

Heat Recovery Steam Generator Market - Global Industry Size, Share, Trends, Opportunity, and Forecast, Segmented By Design, By Application, By Power Rating, By End-user, By Region & Competition, 2021-2031F
出版日期: | 出版商: TechSci Research | 英文 185 Pages | 商品交期: 2-3個工作天內

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簡介目錄

全球餘熱回收蒸汽產生器(HRSG) 市場預計將從 2025 年的 156 萬美元成長到 2031 年的 212 萬美元，複合年成長率為 5.25%。

餘熱鍋爐（HRSG）作為熱交換器，從高溫排放（主要來自工業過程和燃氣渦輪機）中回收熱能，產生蒸氣，用於供暖、發電及其他各種應用。市場成長的驅動力來自全球對節能發電（尤其是聯合循環系統）日益成長的需求，以及工業界為降低營運成本所做的努力。此外，透過高效利用能源來減少碳排放的強制性要求不斷加強，也促進了餘熱鍋爐的應用。

市場概覽
預測期 2027-2031
市場規模：2025年 156萬美元
市場規模：2031年 212萬美元
複合年成長率：2026-2031年 5.25%
成長最快的細分市場 化學品
最大的市場 北美洲

根據 COGEN Europe 2024 年的概覽調查，可再生能源佔歐盟汽電共生電廠初級能源消耗的 25% 以上。然而，阻礙市場成長的主要障礙是實施餘熱鍋爐 (HRSG) 系統所需的高初始投資成本。這種高額資金需求往往成為工業運營商和專案開發商的障礙，可能導致新裝置的延期甚至完全停工，尤其是在經濟不穩定的地區。

市場促進因素

為提高效率而日益普及的聯合循環發電廠（CCPP）是全球餘熱回收蒸汽產生器（HRSG）市場的主要驅動力。作為CCPP的關鍵組成部分，HRSG可回收燃氣渦輪機的餘熱，產生輔助蒸氣用於發電，從而顯著提高電廠整體效率並降低燃料消耗。這項功能優勢使HRSG成為現代超高效發電的核心。因此，新建CCPP設施的強勁需求直接推動了全球HRSG訂單的激增。正如GE Vernova在2025年12月發布的投資者更新報告中所述，該公司預計截至2025年底，燃氣渦輪機訂單積壓量將達到80吉瓦，並持續到2029年，這表明該領域（高度依賴HRSG系統）將持續擴張。

同時，全球對清潔能源和脫碳專案的資金籌措不斷增加，顯著推動了餘熱鍋爐（HRSG）市場的發展。隨著各國政府和各行業加強減少溫室氣體排放並向低碳環境轉型，餘熱鍋爐在最佳化發電和工業活動中的能源回收方面發揮著至關重要的作用，從而降低整體碳足跡。這些努力通常包括維修現有設施或建造整合最新熱回收技術的高效新設施。為了凸顯對更環保的產業的巨額投資，歐盟委員會於2026年2月從其創新基金中撥款29億津貼，用於支持脫碳工作。此外，杜桑斯柯達電力公司於2026年3月宣布，累積訂單將達到約130億捷克克朗。這比去年成長超過三分之一，凸顯了包括餘熱鍋爐在內的發電設備市場的整體成長。

市場挑戰

全球餘熱回收蒸汽產生器（HRSG）市場成長面臨的主要障礙之一是安裝所需的巨額初始資本投入。這筆巨額資金直接阻礙了工業運營商和專案開發商的參與。因此，投資決策常常被推遲，甚至新系統的引入也完全受阻，尤其是在經濟脆弱、資金籌措嚴重受限的地區。

高昂的專案融資成本進一步加劇了這個問題。正如國際能源總署（IEA）在2025年發布的報告所示，開發中國家和新興市場可再生能源發電專案的資本成本至少是已開發國家的兩倍。這些飆升的資金籌措成本直接削弱了新計畫的經濟可行性和吸引力，減緩了高效能餘熱鍋爐（HRSG）系統的普及。最終，這種不成比例的財務負擔限制了市場擴張，尤其是在那些對新建發電和工業產能資金籌措至關重要的地區。

市場趨勢

標準化和模組化餘熱鍋爐（HRSG）設計的興起是產業發展的重要趨勢，它直接滿足了市場對快速部署和最大限度降低現場施工複雜性的需求。這種預先設計的系統簡化了製造和安裝流程，最終縮短了專案週期並降低了相關的人事費用。這種方法增強了擴充性和適應性，使營運商能夠更快地響應不斷變化的能源需求。作為業界對這種設計方法日益成長的支持及其在各種發電環境中公認的實用性的一個例證，領先的供應商NEM Energy Group已成功交付了數十套用於工業燃氣渦輪機的模組化HRSG系統。

另一個重要趨勢是HRSG在綠色氫氣生產的應用日益廣泛。在這一領域，廢熱回收對於提高電解的經濟性和整體效率至關重要。隨著全球脫碳進程的不斷推進，綠色氫氣工廠普遍採用熱回收機制，以最大限度地提高電解槽的能源效率，因為電解槽會產生大量熱量。這有助於降低氫氣平準化成本。國際能源總署（IEA）在2026年2月發布的一項分析表明，到2025年，全球低排放氫氣產量將接近100萬噸，這凸顯了HRSG系統在這一新興市場應用領域的規模和發展潛力。

目錄

第1章概述

第2章：調查方法

第3章執行摘要

第4章：客戶心聲

第5章：全球餘熱回收蒸汽產生器市場展望

  • 市場規模及預測
    • 按金額
  • 市佔率及預測
    • 設計變體（水平滾筒、垂直滾筒）
    • 依應用領域（汽電共生、熱電聯產）
    • 按輸出功率（30兆瓦或以下，31兆瓦至100兆瓦）
    • 依最終用戶（公共產業、化學品）分類
    • 按地區
    • 按公司（2025 年）
  • 市場地圖

第6章：北美餘熱回收蒸汽產生器市場展望

  • 市場規模及預測
  • 市佔率及預測
  • 北美洲：國別分析
    • 美國
    • 加拿大
    • 墨西哥

第7章：歐洲餘熱回收蒸汽產生器市場展望

  • 市場規模及預測
  • 市佔率及預測
  • 歐洲：國別分析
    • 德國
    • 法國
    • 英國
    • 義大利
    • 西班牙

第8章：亞太地區餘熱回收蒸汽產生器市場展望

  • 市場規模及預測
  • 市佔率及預測
  • 亞太地區：國別分析
    • 中國
    • 印度
    • 日本
    • 韓國
    • 澳洲

第9章：中東和非洲餘熱回收蒸汽產生器市場展望

  • 市場規模及預測
  • 市佔率及預測
  • 中東與非洲：國別分析
    • 沙烏地阿拉伯
    • 阿拉伯聯合大公國
    • 南非

第10章：南美洲餘熱回收蒸汽產生器市場展望

  • 市場規模及預測
  • 市佔率及預測
  • 南美洲：國別分析
    • 巴西
    • 哥倫比亞
    • 阿根廷

第11章 市場動態

  • 促進因素
  • 任務

第12章 市場趨勢與發展

  • 併購
  • 產品發布
  • 近期趨勢

第13章：全球餘熱回收蒸汽產生器市場：SWOT分析

第14章：波特五力分析

  • 產業競爭
  • 新進入者的潛力
  • 供應商的議價能力
  • 顧客權力
  • 替代品的威脅

第15章 競爭格局

  • Thermax Limited
  • Siemens AG
  • Mitsubishi Hitachi Power Systems Ltd
  • AC BOILERS SpA
  • Kelvion Holding GmbH
  • General Electric Company
  • Alfa Laval AB
  • Mersen SA
  • Sofinter SpA
  • Alstom SA

第16章 策略建議

第17章：關於研究公司及免責聲明

簡介目錄
Product Code: 2628

The Global Heat Recovery Steam Generator (HRSG) Market is expected to increase from USD 1.56 Million in 2025 to USD 2.12 Million by 2031, reflecting a 5.25% CAGR. An HRSG functions as a heat exchanger, recovering thermal energy from hot exhaust gases-mostly from industrial processes or gas turbines-to produce steam for heating, electricity, and various other uses. Market growth is propelled by the rising global need for energy-efficient power production, particularly in combined cycle systems, along with the industrial push to cut operational expenses. Furthermore, the escalating mandate to decrease carbon emissions via better energy use bolsters the implementation of HRSGs.

Market Overview
Forecast Period2027-2031
Market Size 2025USD 1.56 Million
Market Size 2031USD 2.12 Million
CAGR 2026-20315.25%
Fastest Growing SegmentChemicals
Largest MarketNorth America

Based on COGEN Europe's 2024 Snapshot Survey, renewables accounted for more than 25% of the primary energy consumed in cogeneration plants across the European Union. However, a major obstacle hindering market growth is the hefty initial capital cost necessary to install HRSG systems. This steep financial requirement often acts as a hurdle for industrial operators and project developers, which can delay or completely halt new installations, especially in areas experiencing economic instability.

Market Driver

The rising implementation of Combined Cycle Power Plants (CCPPs) aimed at improving efficiency serves as a primary catalyst for the global Heat Recovery Steam Generator market. Acting as essential elements within CCPPs, HRSGs capture waste heat from gas turbines to create supplementary steam for generating electricity, drastically improving total plant efficiency and lowering fuel usage. This functional strength positions HRSGs at the heart of contemporary, highly efficient power production. Consequently, the strong demand for new CCPP facilities leads directly to a surge in worldwide HRSG orders. As noted in GE Vernova's December 2025 investor update, the firm expects to close 2025 with an 80-gigawatt gas turbine backlog stretching to 2029, pointing to continuous expansion in a sector deeply dependent on HRSG systems.

At the same time, rising global funding for clean energy and decarbonization programs heavily drives the HRSG market. With governments and industries stepping up their campaigns to cut greenhouse gas emissions and shift to low-carbon operations, HRSGs serve a vital function by optimizing energy recovery in power generation and industrial activities, thus reducing overall carbon footprints. Such efforts frequently entail upgrading current sites or building new, highly efficient facilities integrated with modern heat recovery technologies. Emphasizing this massive financial dedication to greener industries, the European Commission distributed EUR 2.9 billion in Innovation Fund grants in February 2026 to back decarbonization efforts. Additionally, in March 2026, Doosan Skoda Power announced a 2026 backlog of roughly 13 billion CZK-a rise of more than a third from the previous year-highlighting the wider growth of the power generation equipment market, which encompasses HRSGs.

Market Challenge

A major obstacle hindering the growth of the Global Heat Recovery Steam Generator (HRSG) Market is the massive upfront capital investment necessary for installation. This steep financial requirement poses a direct hurdle for industrial operators and project developers. Consequently, it often causes postponed investment choices or completely blocks new system rollouts, especially in economically vulnerable areas where access to capital is heavily restricted.

The exorbitant expense of obtaining project funding severely compounds this issue. As reported by the International Energy Agency in 2025, capital costs for renewable power initiatives in developing economies and emerging markets were at least twice as high as those in developed nations. These soaring financing expenses directly weaken the economic feasibility and appeal of new projects, subsequently retarding the implementation of highly efficient HRSG systems. Ultimately, this uneven financial strain limits market expansion, particularly in regions where funding for fresh power generation and industrial capabilities is vital.

Market Trends

The rise of standardized and modular HRSG designs represents a major industry trend, directly meeting the market's need for rapid deployment and minimized on-site construction complications. Such pre-engineered systems streamline both manufacturing and installation, which ultimately shortens project schedules and reduces related labor costs. This method provides enhanced scalability and adaptability, allowing operators to react more swiftly to shifting energy requirements. Highlighting the growing industrial approval and real-world utility of this design approach across various power generation environments, leading supplier NEM Energy Group has successfully supplied dozens of modular HRSG systems for industrial gas turbines.

Another crucial trend involves broadening HRSG uses within green hydrogen generation, where capturing waste heat is vital for boosting the economic feasibility and total efficiency of electrolysis. With the worldwide push for decarbonization gaining momentum, green hydrogen plants are routinely incorporating heat recovery mechanisms to maximize the energy efficiency of electrolyzers, which produce significant amounts of heat. By doing so, this integration actively helps reduce the levelized cost of hydrogen. Showcasing the massive and expanding scope of this emerging market application for HRSG systems, a February 2026 analysis by the International Energy Agency (IEA) indicated that global low-emissions hydrogen output approached 1 million tons in 2025.

Key Market Players

  • Thermax Limited
  • Siemens AG
  • Mitsubishi Hitachi Power Systems Ltd
  • AC BOILERS SpA
  • Kelvion Holding GmbH
  • General Electric Company
  • Alfa Laval AB
  • Mersen SA
  • Sofinter SpA
  • Alstom SA

Report Scope

In this report, the Global Heat Recovery Steam Generator Market has been segmented into the following categories, in addition to the industry trends which have also been detailed below:

Heat Recovery Steam Generator Market, By Design

  • Horizontal Drum Units
  • Vertical Drum Units

Heat Recovery Steam Generator Market, By Application

  • Cogeneration
  • Combined Heat & Power

Heat Recovery Steam Generator Market, By Power Rating

  • Up to 30 MW
  • 31 MW - 100 MW

Heat Recovery Steam Generator Market, By End-user

  • Utility
  • Chemicals

Heat Recovery Steam Generator Market, By Region

  • North America
    • United States
    • Canada
    • Mexico
  • Europe
    • France
    • United Kingdom
    • Italy
    • Germany
    • Spain
  • Asia Pacific
    • China
    • India
    • Japan
    • Australia
    • South Korea
  • South America
    • Brazil
    • Argentina
    • Colombia
  • Middle East & Africa
    • South Africa
    • Saudi Arabia
    • UAE

Competitive Landscape

Company Profiles: Detailed analysis of the major companies present in the Global Heat Recovery Steam Generator Market.

Available Customizations:

Global Heat Recovery Steam Generator Market report with the given market data, TechSci Research offers customizations according to a company's specific needs. The following customization options are available for the report:

Company Information

  • Detailed analysis and profiling of additional market players (up to five).

Table of Contents

1. Product Overview

  • 1.1. Market Definition
  • 1.2. Scope of the Market
    • 1.2.1. Markets Covered
    • 1.2.2. Years Considered for Study
    • 1.2.3. Key Market Segmentations

2. Research Methodology

  • 2.1. Objective of the Study
  • 2.2. Baseline Methodology
  • 2.3. Key Industry Partners
  • 2.4. Major Association and Secondary Sources
  • 2.5. Forecasting Methodology
  • 2.6. Data Triangulation & Validation
  • 2.7. Assumptions and Limitations

3. Executive Summary

  • 3.1. Overview of the Market
  • 3.2. Overview of Key Market Segmentations
  • 3.3. Overview of Key Market Players
  • 3.4. Overview of Key Regions/Countries
  • 3.5. Overview of Market Drivers, Challenges, Trends

4. Voice of Customer

5. Global Heat Recovery Steam Generator Market Outlook

  • 5.1. Market Size & Forecast
    • 5.1.1. By Value
  • 5.2. Market Share & Forecast
    • 5.2.1. By Design (Horizontal Drum Units, Vertical Drum Units)
    • 5.2.2. By Application (Cogeneration, Combined Heat & Power)
    • 5.2.3. By Power Rating (Up to 30 MW, 31 MW - 100 MW)
    • 5.2.4. By End-user (Utility, Chemicals)
    • 5.2.5. By Region
    • 5.2.6. By Company (2025)
  • 5.3. Market Map

6. North America Heat Recovery Steam Generator Market Outlook

  • 6.1. Market Size & Forecast
    • 6.1.1. By Value
  • 6.2. Market Share & Forecast
    • 6.2.1. By Design
    • 6.2.2. By Application
    • 6.2.3. By Power Rating
    • 6.2.4. By End-user
    • 6.2.5. By Country
  • 6.3. North America: Country Analysis
    • 6.3.1. United States Heat Recovery Steam Generator Market Outlook
      • 6.3.1.1. Market Size & Forecast
        • 6.3.1.1.1. By Value
      • 6.3.1.2. Market Share & Forecast
        • 6.3.1.2.1. By Design
        • 6.3.1.2.2. By Application
        • 6.3.1.2.3. By Power Rating
        • 6.3.1.2.4. By End-user
    • 6.3.2. Canada Heat Recovery Steam Generator Market Outlook
      • 6.3.2.1. Market Size & Forecast
        • 6.3.2.1.1. By Value
      • 6.3.2.2. Market Share & Forecast
        • 6.3.2.2.1. By Design
        • 6.3.2.2.2. By Application
        • 6.3.2.2.3. By Power Rating
        • 6.3.2.2.4. By End-user
    • 6.3.3. Mexico Heat Recovery Steam Generator Market Outlook
      • 6.3.3.1. Market Size & Forecast
        • 6.3.3.1.1. By Value
      • 6.3.3.2. Market Share & Forecast
        • 6.3.3.2.1. By Design
        • 6.3.3.2.2. By Application
        • 6.3.3.2.3. By Power Rating
        • 6.3.3.2.4. By End-user

7. Europe Heat Recovery Steam Generator Market Outlook

  • 7.1. Market Size & Forecast
    • 7.1.1. By Value
  • 7.2. Market Share & Forecast
    • 7.2.1. By Design
    • 7.2.2. By Application
    • 7.2.3. By Power Rating
    • 7.2.4. By End-user
    • 7.2.5. By Country
  • 7.3. Europe: Country Analysis
    • 7.3.1. Germany Heat Recovery Steam Generator Market Outlook
      • 7.3.1.1. Market Size & Forecast
        • 7.3.1.1.1. By Value
      • 7.3.1.2. Market Share & Forecast
        • 7.3.1.2.1. By Design
        • 7.3.1.2.2. By Application
        • 7.3.1.2.3. By Power Rating
        • 7.3.1.2.4. By End-user
    • 7.3.2. France Heat Recovery Steam Generator Market Outlook
      • 7.3.2.1. Market Size & Forecast
        • 7.3.2.1.1. By Value
      • 7.3.2.2. Market Share & Forecast
        • 7.3.2.2.1. By Design
        • 7.3.2.2.2. By Application
        • 7.3.2.2.3. By Power Rating
        • 7.3.2.2.4. By End-user
    • 7.3.3. United Kingdom Heat Recovery Steam Generator Market Outlook
      • 7.3.3.1. Market Size & Forecast
        • 7.3.3.1.1. By Value
      • 7.3.3.2. Market Share & Forecast
        • 7.3.3.2.1. By Design
        • 7.3.3.2.2. By Application
        • 7.3.3.2.3. By Power Rating
        • 7.3.3.2.4. By End-user
    • 7.3.4. Italy Heat Recovery Steam Generator Market Outlook
      • 7.3.4.1. Market Size & Forecast
        • 7.3.4.1.1. By Value
      • 7.3.4.2. Market Share & Forecast
        • 7.3.4.2.1. By Design
        • 7.3.4.2.2. By Application
        • 7.3.4.2.3. By Power Rating
        • 7.3.4.2.4. By End-user
    • 7.3.5. Spain Heat Recovery Steam Generator Market Outlook
      • 7.3.5.1. Market Size & Forecast
        • 7.3.5.1.1. By Value
      • 7.3.5.2. Market Share & Forecast
        • 7.3.5.2.1. By Design
        • 7.3.5.2.2. By Application
        • 7.3.5.2.3. By Power Rating
        • 7.3.5.2.4. By End-user

8. Asia Pacific Heat Recovery Steam Generator Market Outlook

  • 8.1. Market Size & Forecast
    • 8.1.1. By Value
  • 8.2. Market Share & Forecast
    • 8.2.1. By Design
    • 8.2.2. By Application
    • 8.2.3. By Power Rating
    • 8.2.4. By End-user
    • 8.2.5. By Country
  • 8.3. Asia Pacific: Country Analysis
    • 8.3.1. China Heat Recovery Steam Generator Market Outlook
      • 8.3.1.1. Market Size & Forecast
        • 8.3.1.1.1. By Value
      • 8.3.1.2. Market Share & Forecast
        • 8.3.1.2.1. By Design
        • 8.3.1.2.2. By Application
        • 8.3.1.2.3. By Power Rating
        • 8.3.1.2.4. By End-user
    • 8.3.2. India Heat Recovery Steam Generator Market Outlook
      • 8.3.2.1. Market Size & Forecast
        • 8.3.2.1.1. By Value
      • 8.3.2.2. Market Share & Forecast
        • 8.3.2.2.1. By Design
        • 8.3.2.2.2. By Application
        • 8.3.2.2.3. By Power Rating
        • 8.3.2.2.4. By End-user
    • 8.3.3. Japan Heat Recovery Steam Generator Market Outlook
      • 8.3.3.1. Market Size & Forecast
        • 8.3.3.1.1. By Value
      • 8.3.3.2. Market Share & Forecast
        • 8.3.3.2.1. By Design
        • 8.3.3.2.2. By Application
        • 8.3.3.2.3. By Power Rating
        • 8.3.3.2.4. By End-user
    • 8.3.4. South Korea Heat Recovery Steam Generator Market Outlook
      • 8.3.4.1. Market Size & Forecast
        • 8.3.4.1.1. By Value
      • 8.3.4.2. Market Share & Forecast
        • 8.3.4.2.1. By Design
        • 8.3.4.2.2. By Application
        • 8.3.4.2.3. By Power Rating
        • 8.3.4.2.4. By End-user
    • 8.3.5. Australia Heat Recovery Steam Generator Market Outlook
      • 8.3.5.1. Market Size & Forecast
        • 8.3.5.1.1. By Value
      • 8.3.5.2. Market Share & Forecast
        • 8.3.5.2.1. By Design
        • 8.3.5.2.2. By Application
        • 8.3.5.2.3. By Power Rating
        • 8.3.5.2.4. By End-user

9. Middle East & Africa Heat Recovery Steam Generator Market Outlook

  • 9.1. Market Size & Forecast
    • 9.1.1. By Value
  • 9.2. Market Share & Forecast
    • 9.2.1. By Design
    • 9.2.2. By Application
    • 9.2.3. By Power Rating
    • 9.2.4. By End-user
    • 9.2.5. By Country
  • 9.3. Middle East & Africa: Country Analysis
    • 9.3.1. Saudi Arabia Heat Recovery Steam Generator Market Outlook
      • 9.3.1.1. Market Size & Forecast
        • 9.3.1.1.1. By Value
      • 9.3.1.2. Market Share & Forecast
        • 9.3.1.2.1. By Design
        • 9.3.1.2.2. By Application
        • 9.3.1.2.3. By Power Rating
        • 9.3.1.2.4. By End-user
    • 9.3.2. UAE Heat Recovery Steam Generator Market Outlook
      • 9.3.2.1. Market Size & Forecast
        • 9.3.2.1.1. By Value
      • 9.3.2.2. Market Share & Forecast
        • 9.3.2.2.1. By Design
        • 9.3.2.2.2. By Application
        • 9.3.2.2.3. By Power Rating
        • 9.3.2.2.4. By End-user
    • 9.3.3. South Africa Heat Recovery Steam Generator Market Outlook
      • 9.3.3.1. Market Size & Forecast
        • 9.3.3.1.1. By Value
      • 9.3.3.2. Market Share & Forecast
        • 9.3.3.2.1. By Design
        • 9.3.3.2.2. By Application
        • 9.3.3.2.3. By Power Rating
        • 9.3.3.2.4. By End-user

10. South America Heat Recovery Steam Generator Market Outlook

  • 10.1. Market Size & Forecast
    • 10.1.1. By Value
  • 10.2. Market Share & Forecast
    • 10.2.1. By Design
    • 10.2.2. By Application
    • 10.2.3. By Power Rating
    • 10.2.4. By End-user
    • 10.2.5. By Country
  • 10.3. South America: Country Analysis
    • 10.3.1. Brazil Heat Recovery Steam Generator Market Outlook
      • 10.3.1.1. Market Size & Forecast
        • 10.3.1.1.1. By Value
      • 10.3.1.2. Market Share & Forecast
        • 10.3.1.2.1. By Design
        • 10.3.1.2.2. By Application
        • 10.3.1.2.3. By Power Rating
        • 10.3.1.2.4. By End-user
    • 10.3.2. Colombia Heat Recovery Steam Generator Market Outlook
      • 10.3.2.1. Market Size & Forecast
        • 10.3.2.1.1. By Value
      • 10.3.2.2. Market Share & Forecast
        • 10.3.2.2.1. By Design
        • 10.3.2.2.2. By Application
        • 10.3.2.2.3. By Power Rating
        • 10.3.2.2.4. By End-user
    • 10.3.3. Argentina Heat Recovery Steam Generator Market Outlook
      • 10.3.3.1. Market Size & Forecast
        • 10.3.3.1.1. By Value
      • 10.3.3.2. Market Share & Forecast
        • 10.3.3.2.1. By Design
        • 10.3.3.2.2. By Application
        • 10.3.3.2.3. By Power Rating
        • 10.3.3.2.4. By End-user

11. Market Dynamics

  • 11.1. Drivers
  • 11.2. Challenges

12. Market Trends & Developments

  • 12.1. Merger & Acquisition (If Any)
  • 12.2. Product Launches (If Any)
  • 12.3. Recent Developments

13. Global Heat Recovery Steam Generator Market: SWOT Analysis

14. Porter's Five Forces Analysis

  • 14.1. Competition in the Industry
  • 14.2. Potential of New Entrants
  • 14.3. Power of Suppliers
  • 14.4. Power of Customers
  • 14.5. Threat of Substitute Products

15. Competitive Landscape

  • 15.1. Thermax Limited
    • 15.1.1. Business Overview
    • 15.1.2. Products & Services
    • 15.1.3. Recent Developments
    • 15.1.4. Key Personnel
    • 15.1.5. SWOT Analysis
  • 15.2. Siemens AG
  • 15.3. Mitsubishi Hitachi Power Systems Ltd
  • 15.4. AC BOILERS SpA
  • 15.5. Kelvion Holding GmbH
  • 15.6. General Electric Company
  • 15.7. Alfa Laval AB
  • 15.8. Mersen SA
  • 15.9. Sofinter SpA
  • 15.10. Alstom SA

16. Strategic Recommendations

17. About Us & Disclaimer