Los Angeles, CA -- (SBWire) -- 05/02/2019 --A heat recovery steam generator or HRSG is an energy recovery heat exchanger that recovers heat from a hot gas stream. It produces steam that can be used in a process (cogeneration) or used to drive a steam turbine (combined cycle).

The global Heat Recovery Steam Generator (HRSG) market was 2230 million US$ in 2018 and is expected to 3010 million US$ by the end of 2025, growing at a CAGR of 3.8% between 2019 and 2025.

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Globally, the HRSG industry market is not that concentrated as the manufacturing technology of HRSG is relatively much more mature than some high-tech equipment. But some enterprises are still well-known for the wonderful performance of their HRSG and related services. At the same time, some countries such as South Korea, Italy and USA are remarkable in the global HRSG industry because of their market share and technology status of HRSG.

The consumption volume of HRSG is related to downstream industries and global economy. As there will always be some uncertain in the global economy in the following years, the growth rate of HRSG industry may not keep stable. But it is surely forecasted that the market of HRSG is still promising.

The product average price declined in the past few years due to the market competition, the average price will keep the trend in the few future years due to most of Chinese manufacturers will enter the industry.

The key drivers identified in heat recovery steam generator market are the growing need for energy efficient sources, allocation of government incentives for achieving better energy efficiency levels, reduction in carbon emissions, proposed investment plans in energy sector by government and major companies. However, high capital cost and limited product differentiation are the key challenges faced by manufacturers in heat recovery steam generator market.

Although the market competition of HRSG is fierce globally, there are many enterprises can obtain considerable profit form the manufacturing and marketing of HRSG and that is the reason that we believe there will also be enterprises enter this market. But it is suggested that enterprises those have plans to enter this industry have careful analysis of this market and the advantages or disadvantages of themselves.

This report studies the Heat Recovery Steam Generator (HRSG) market size (value and volume) by players, regions, product types and end industries, history data 2014-2018 and forecast data 2019-2025; This report also studies the global market competition landscape, market drivers and trends, opportunities and challenges, risks and entry barriers, sales channels, distributors and Porter's Five Forces Analysis.

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The various contributors involved in the value chain of the product include manufacturers, suppliers, distributors, intermediaries, and customers. The key manufacturers in this market include:

BHI
Foster Wheeler
Nooter Eriksen
CMI Energy
Alstom Power
Doosan E&C
Siemens (NEM Energy)
VOGT Power
STF
Babcock & Wilcox
Mitsubishi
Hangzhou Boiler
703 Institute
Wuxi Huaguang

By the product type, the market is primarily split into:

Vertical
Horizontal

By the end users/application, this report covers the following segments:

Power Generation
Heating
Desalination
Others

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