In countries such as India and China, heat recovery steam generator systems are installed for generating electricity for infrastructural and industrial development. Governments are also taking initiatives to cater to the need of the rapidly multiplying population and their increasing demand for basic necessities, in which electricity plays a major role. Such initiatives are likely to bode well for the global heat recovery steam generator market. According to Fortune Business Insights, the market for heat recovery steam generating systems is anticipated to rise exponentially on account of the growing demand for energy and power for daily consumption in all residential, industrial and commercial sectors.
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An Overview of the Impact of COVID-19 on this Market:
The emergence of COVID-19 has brought the world to a standstill. We understand that this health crisis has brought an unprecedented impact on businesses across industries. However, this too shall pass. Rising support from governments and several companies can help in the fight against this highly contagious disease. There are some industries that are struggling and some are thriving. Overall, almost every sector is anticipated to be impacted by the pandemic.
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- Amec Foster Wheeler
- XIZI UHC
- Mitsubishi Hitachi Power System
- XIZI UHC
- Cannon Bono Energia
- CMI Groupe
- General Electrics
The report on global heat recovery steam generator system by Fortune Business Insights is titled,” Heat Recovery Steam Generator Market Size, Share and Global Trend By Design (Horizontal Drum, Vertical Drum), By Application (Cogeneration, Combined Cycle), By Power rating (Up to 30MW, 31MW-50MW, 51WM-100MW, Above 100MW), By End-user (Power Generation, Refinery, Chemical, Paper & Pulp, Commercial, Utility) and Geography Forecast Till 2026”. The report focuses on growth drivers and restraints, trends and opportunities and competitive landscape of the market. All information provided in the report are gathered from both primary and secondary resources.
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Surge in Combined Cycle Power Plants to Produce Electricity Catapults North America to the Fore
Geographically, the market is dominated by North America, wherein the U.S. showcases the highest rate of heat recovery steam generator market revenue generation. This is owing to the rise in number of combined cycle power plants that uses both steam and gas turbines for producing electricity and distributing it for all residential, commercial and industrial purposes.
The global heat recovery steam generators market witnesses the presence of many players making the competition fierce. They are adopting various strategies to gain a competitive edge and stand out in the crowd. These strategies include company collaborations for mass production, co-development of power households, merger and acquisitions, and others. For instance, the companies Javno Podjetje Energetika, and Metka SA recently signed a €118 million deal in April 2019 for the construction, procurement, and engineering of new combined heat and power plant in Ljubljana.
- By Design
- Horizontal Drum
- Vertical Drum
- By Application
- Combined Cycle
- By Power rating
- Up to 30MW
- Above 100MW
- By End-user
- Power Generation
- Paper & Pulp
- By Geography
- North America (USA and Canada)
- Europe (UK, Germany, France, Italy, Spain, Russia and Rest of Europe)
- Asia Pacific (Japan, China, India, Australia, Southeast Asia and Rest of Asia Pacific)
- Latin America (Brazil, Mexico, and Rest of Latin America)
- Middle East & Africa (South Africa, GCC, and Rest of the Middle East & Africa)
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