The report studies the market covering a period of 12 years of trend and forecast. The report provides detailed insights into the market dynamics to enable informed business decision making and growth strategy formulation based on the opportunities present in the market.
Heat Recovery Steam Generator Market is likely to witness an impressive CAGR of 5.3% during the forecast period. Surge in utilization towards cogeneration technology along with growing investment towards generation capacity expansion is likely to drive the market growth.
By Design Type
Based on the design type, the market is segmented as horizontal drum and vertical drum. The horizontal drum segment is projected to be the larger segment of the market during the forecast period driven by ease of compatibility and lower capital expenditure. Continuous technological development along with healthy growth in combine cycle plants will drive the market for the horizontal drum segment.
By Application Type
Based on the application type, the market is segmented as utilities, commercial, chemicals, refineries, pulp & paper, and others. The utilities segment is projected to remain the largest segment of the market. Development of thermal power generating station along with increased focus towards sustainable energy sources is likely to drive the market growth.
In terms of regions, Asia-Pacific is estimated to be the most lucrative market led by China, Japan, and India. Expanding industrial sector, rapid urbanization, significant economic development in the region, and increased focus towards sustainable source of energy are the major factors driving the growth of the Asia-Pacific’s market. North America and Europe are also expected to offer substantial growth opportunities during the forecast period.
Features of the Report
This report offers high-quality insights and is the outcome of detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders and validation and triangulation with Stratview Research’s internal database and statistical tools.
About Stratview Research
Stratview Research is a trusted brand globally, providing high quality research and strategic insights that help companies worldwide in effective decision making. It is a global market intelligence firm providing a wide range of services including syndicated market reports, custom research, and sourcing intelligence across industries, such as Advanced Materials, Aerospace & Defense, Automotive & Mass Transportation, Consumer Goods, Construction & Equipment, Electronics and Semiconductors, Energy & Utility, Healthcare & Life Sciences, and Oil & Gas.
Contact: Stratview Research
E-mail: [email protected]