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Increasing global electricity demand & subsequent investments in power plants, and economic benefits of implementing heat recovery steam generators are driving the market worldwide.

Press Release   •   Jan 23, 2017 05:31 EST

“Heat Recovery Steam Generator Market by Rated Power (Up To 30 MW & >30 MW), by Application (Combined Cycle & CHP), by End-User (Utilities, Chemicals, Refineries, Pulp & Paper, Commercial & Others), and by Region - Global Trends & Forecast to 2020”

The heat recovery steam generator market is expected to grow from an estimated USD 740.7 Million in 2015 to USD 888.2 Million by 2020, at a CAGR of 3.7% from 2015 to 2020

“Browse 70 market data Tables and 59 Figures spread through 137 Pages and in-depth TOC on "Heat Recovery Steam Generator Market - Global Trends & Forecast to 2020


Combined Heat and Power (CHP) plants to be the dominant application segment in the global heat recovery steam generator market

Heat recovery steam generators find application mainly in CHP and CCPP. The CHP market accounted for more than 50% of the total market share in 2014. Cogeneration or CHP is highly efficient and can achieve primary energy savings by nearly 40%. Moreover, they are installed close to the end-user, which helps in reducing T&D losses. The typical recoverable temperature ranges from 90oC to 400oC, which are used for district heating or cooling and other factory processes.

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Increasing preference for >30 MW heat recovery steam generators

The report also segments the heat recovery steam generator market on the basis of its rated power, which includes up to 30 MW and >30 MW. The >30 MW power rated heat recovery steam generators have been widely accepted in the past few years, and finds application mainly in CCPP. The market for > 30 MW power rated heat recovery steam generators will be driven by the many combined cycle power plants that are planned to come up in Asia-Pacific and North America. Replacement of old coal-fired power generation capacity in the U.S. with new large capacity gas-fired power plants would give a major boost to the market. The up to 30 MW power rated heat recovery steam generator market is expected to grow at the highest CAGR during the forecast period.

Europe is the dominant market for heat recovery steam generators

Europe continues to dominate the market, as it has the highest number of CHP plants in the world, and Asia-Pacific is expected to grow at the fastest pace. Factors such as urbanization, industrialization, and fast economic growth necessitates huge requirement for electric power from various countries in the Asia-Pacific region, which demands development of new power plants, especially gas-fired ones.

To provide an in-depth understanding of the competitive landscape, the report includes profiles of some of the leading players in the heat recovery steam generator market including General Electric Company (U.S.), Siemens AG (Germany), Amec Foster Wheeler plc. (U.K.), Babcock & Wilcox Company (U.S.), and Doosan Engineering & Construction Co., Ltd. (South Korea), among others. Dominant players are trying to penetrate developing economies and are adopting various methods to grab the market share.

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Market share analysis based on developments for key companies has also been included in the report. The scope aids market participants to identify high growth markets and help managing key investment decisions. For this report, major players in the heat recovery steam generator market have been identified using various primary and secondary sources, which include press releases, annual reports of top market players, interview with key opinion leaders such as CEOs, directors, and marketing personnel. Based on this research, the market shares have been evaluated and validated.

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MarketsandMarkets is the largest market research firm worldwide in terms of annually published premium market research reports. Serving 1700 global fortune enterprises with more than 1200 premium studies in a year, M&M is catering to a multitude of clients across 8 different industrial verticals. We specialize in consulting assignments and business research across high growth markets, cutting edge technologies and newer applications. Our 850 fulltime analyst and SMEs at MarketsandMarkets are tracking global high growth markets following the "Growth Engagement Model – GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors.

M&M’s flagship competitive intelligence and market research platform, "RT" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets. The new included chapters on Methodology and Benchmarking presented with high quality analytical infographics in our reports gives complete visibility of how the numbers have been arrived and defend the accuracy of the numbers.

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About MarketsandMarkets -

MarketsandMarkets is the largest market research firm worldwide in terms of annually published premium market research reports. Serving 1700 global fortune enterprises with more than 1200 premium studies in a year, M&M is catering to a multitude of clients across 8 different industrial verticals. We specialize in consulting assignments and business research across high growth markets, cutting edge technologies and newer applications. Our 850 fulltime analyst and SMEs at MarketsandMarkets are tracking global high growth markets following the "Growth Engagement Model – GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors.

M&M’s flagship competitive intelligence and market research platform, "RT" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets. The new included chapters on Methodology and Benchmarking presented with high quality analytical infographics in our reports gives complete visibility of how the numbers have been arrived and defend the accuracy of the numbers.

We at MarketsandMarkets are inspired to help our clients grow by providing apt business insight with our huge market intelligence repository.

Contact:

Mr. Rohan

MarketsandMarkets INC.

701 Pike Street

Suite 2175, Seattle,

WA 98101, United States

1-888-600-6441

Email: sales@marketsandmarkets.com

Website: www.marketsandmarkets.com