Global Heat Recovery Steam Generator (HRSG) Market Growth 2025-2031

Global Heat Recovery Steam Generator (HRSG) Market Growth 2025-2031

The global Heat Recovery Steam Generator (HRSG) market size is predicted to grow from US$ 2035 million in 2025 to US$ 2330 million in 2031; it is expected to grow at a CAGR of 2.3% from 2025 to 2031.

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).

Global Heat Recovery Steam Generator (HRSG) key players include Nooter Eriksen, BHI, CMI Energy, Doosan E&C, etc. Global top four manufacturers hold a share over 30%.

North America is the largest market, with a share about 25%, followed by China, and Europe, both have a share about 45 percent.

In terms of product, 100MW-300MW is the largest segment, with a share over 55%. And in terms of application, the largest application is Power Station, followed by Industrial Production.

LP Information, Inc. (LPI) ' newest research report, the “Heat Recovery Steam Generator (HRSG) Industry Forecast” looks at past sales and reviews total world Heat Recovery Steam Generator (HRSG) sales in 2024, providing a comprehensive analysis by region and market sector of projected Heat Recovery Steam Generator (HRSG) sales for 2025 through 2031. With Heat Recovery Steam Generator (HRSG) sales broken down by region, market sector and sub-sector, this report provides a detailed analysis in US$ millions of the world Heat Recovery Steam Generator (HRSG) industry.

This Insight Report provides a comprehensive analysis of the global Heat Recovery Steam Generator (HRSG) landscape and highlights key trends related to product segmentation, company formation, revenue, and market share, latest development, and M&A activity. This report also analyzes the strategies of leading global companies with a focus on Heat Recovery Steam Generator (HRSG) portfolios and capabilities, market entry strategies, market positions, and geographic footprints, to better understand these firms’ unique position in an accelerating global Heat Recovery Steam Generator (HRSG) market.

This Insight Report evaluates the key market trends, drivers, and affecting factors shaping the global outlook for Heat Recovery Steam Generator (HRSG) and breaks down the forecast by Type, by Application, geography, and market size to highlight emerging pockets of opportunity. With a transparent methodology based on hundreds of bottom-up qualitative and quantitative market inputs, this study forecast offers a highly nuanced view of the current state and future trajectory in the global Heat Recovery Steam Generator (HRSG).

This report presents a comprehensive overview, market shares, and growth opportunities of Heat Recovery Steam Generator (HRSG) market by product type, application, key manufacturers and key regions and countries.

Segmentation by Type:
Below 50MW
50MW-100MW
100MW-300MW
Over 300MW

Segmentation by Application:
Power Station
Industrial Production

This report also splits the market by region:
Americas
United States
Canada
Mexico
Brazil
APAC
China
Japan
Korea
Southeast Asia
India
Australia
Europe
Germany
France
UK
Italy
Russia
Middle East & Africa
Egypt
South Africa
Israel
Turkey
GCC Countries

The below companies that are profiled have been selected based on inputs gathered from primary experts and analysing the company's coverage, product portfolio, its market penetration.
BHI
Foster Wheeler
Nooter Eriksen
CMI Energy
Alstom Power
Doosan E&C
Siemens (NEM Energy)
VOGT Power
STF
Babcock & Wilcox
Mitsubishi
Hangzhou Boiler
Bharat Heavy Electricals
Wuxi Huaguang

Key Questions Addressed in this Report

What is the 10-year outlook for the global Heat Recovery Steam Generator (HRSG) market?

What factors are driving Heat Recovery Steam Generator (HRSG) market growth, globally and by region?

Which technologies are poised for the fastest growth by market and region?

How do Heat Recovery Steam Generator (HRSG) market opportunities vary by end market size?

How does Heat Recovery Steam Generator (HRSG) break out by Type, by Application?

Please note: The report will take approximately 2 business days to prepare and deliver.