Heat Recovery Steam Generator Market Top Trends, Future Analysis & Forecast 2022-2030

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Heat Recovery Steam Generator Market is expected
to be USD 2 Billion by 2030
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Industry Overview

• The global heat recovery steam generator market
  is expected to record commendable proceeds over
  the forecast period with the surging growth of
  the industrial sector.
• Heat exchangers are increasingly adopted across
  industry sectors with the growing need for
  heating and cooling applications. The power
  generation sector, for instance, primarily
  implements heat exchangers for sub-cooling,
  condensing, pre-heating, and heat extraction,
  which could bolster product demand over the
  stipulated timeframe.
• The heat recovery steam generator market is
  segmented in terms of design, rated power, mode
  of operation, application, and region.
• In terms of design, the horizontal segment will
  account for a substantial share of the heat
  recovery steam generator industry due to its
  effective design characteristics. Horizontal heat
  exchangers are ideal for operations using a
  single-phase fluid on the shell side.
• Furthermore, the horizontal design prevents any
  leakage flows from the exchangers and offers a
  higher heat transfer rate. Benefits such as these
  will increase product adoption over the
  forthcoming years.

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• With respect to rated power, the 100 - 200 MW
  rated segment will register appreciable revenue
  over the forecasted timeframe. These HRSG systems
  are mainly used across the chemical industry,
  food processing plants, and pulp paper
  industry.
• Waste heat recovery systems rated 100 - 200 MW
  can absorb the moisture and heat in a room to be
  reused without straining the energy source that
  generally offers water and air for the
  paper-making process. The growing demand for
  paper pulp products will thus fuel HRSG
  adoption.
• With respect to the mode of operation, the
  combined cycle segment will record commendable
  growth due to stricter emission reduction goals.
  With growing environmental concerns, governments
  are integrating sustainable solutions for heating
  and cooling.
• According to the European Heat Pump Association,
  close to 15 million European households had heat
  pumps in 2020. With ongoing efforts to limit
  fossil fuels for heating cooling, the adoption
  of eco-friendly products such as CC power
  generating systems is expected to rise
  considerably, influencing HRSG market dynamics.

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Heat Recovery Steam Generator Market

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