Energy and Power Heat Recovery Steam Generator Market | Page 2

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.
Market share analysis based on developments for key companies has also been included i n 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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