Heat Recovery Steam Generator Market Strategies, Top Players, Growth Opportunities, Analysis and Forecast by 2031

Historic Data: 2021-2023 | Base Year: 2024 | Forecast Period: 2025-2031

Coverage: Heat Recovery Steam Generator Market covers analysis by Rated Power (0-60 MW, 60-100 MW, Above 100 MW); Application (Co-generation, Combined Cycle); End-User (Energy and Utilities, Chemical Refineries, Paper and Pulp, Commercial, Others) , and Geography (North America, Europe, Asia Pacific, and South and Central America)

Report Date : Nov 2025
Report Code : TIPRE00006587

Category : Energy and Power
Status : Upcoming

Available Report Formats :
No. of Pages : 150

Also Available in :

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Page Updated: Jul 2025

Analysis Strategic Insights Market Drivers Regional Insights Report Scope Recent Developments FAQs

The Heat Recovery Steam Generator Market is expected to register a CAGR of XX% from 2025 to 2031, with a market size expanding from US$ XX Million in 2024 to US$ XX Million by 2031.

The report is categorized by Rated Power (0-60 MW, 60-100 MW, Above 100 MW) and further analyzes the market based on Application (Co-generation, Combined Cycle). It also examines the market by End-User (Energy and Utilities, Chemical Refineries, Paper and Pulp, Commercial).A comprehensive breakdown is provided at global, regional, and country levels for each of these key segments.

The report includes market size and forecasts across all segments, presenting values in USD. It also delivers key statistics on the current market status of leading players, along with insights into prevailing market trends and emerging opportunities.

Purpose of the Report

The report Heat Recovery Steam Generator Market by The Insight Partners aims to describe the present landscape and future growth, top driving factors, challenges, and opportunities. This will provide insights to various business stakeholders, such as:

Technology Providers/Manufacturers: To understand the evolving market dynamics and know the potential growth opportunities, enabling them to make informed strategic decisions.
Investors: To conduct a comprehensive trend analysis regarding the market growth rate, market financial projections, and opportunities that exist across the value chain.
Regulatory bodies: To regulate policies and police activities in the market with the aim of minimizing abuse, preserving investor trust and confidence, and upholding the integrity and stability of the market.

Heat Recovery Steam Generator Market Segmentation

Rated Power

0-60 MW
60-100 MW
Above 100 MW

Application

Co-generation
Combined Cycle

End-User

Energy and Utilities
Chemical Refineries
Paper and Pulp
Commercial

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Heat Recovery Steam Generator Market: Strategic Insights

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This FREE sample will include data analysis, ranging from market trends to estimates and forecasts.

Heat Recovery Steam Generator Market Growth Drivers

Unlocking Efficiency: Innovative Designs in Heat Recovery Steam Generators
Sustainable Energy: Driving Demand for Eco-Friendly Solutions
Technological Advancements: Boosting Performance and Reliability in HRSGs

Heat Recovery Steam Generator Market Future Trends

Heat Recovery Steam Generators: Pioneering Sustainable Energy Solutions
Innovative Designs Boost Efficiency in Heat Recovery Systems
Smart Technology Integration Revolutionizes Steam Generation Processes

Heat Recovery Steam Generator Market Opportunities

Unlocking Efficiency: Heat Recovery Steam Generators for Industry
Sustainable Energy Solutions: Transforming Waste Heat into Power
Innovative Designs: Next-Gen Heat Recovery Steam Generators for Renewables

Heat Recovery Steam Generator Market Regional Insights

The regional trends and factors influencing the Heat Recovery Steam Generator Market throughout the forecast period have been thoroughly explained by the analysts at The Insight Partners. This section also discusses Heat Recovery Steam Generator Market segments and geography across North America, Europe, Asia Pacific, Middle East and Africa, and South and Central America.

Heat Recovery Steam Generator Market Report Scope

Report Attribute	Details
Market size in 2024	US$ XX Million
Market Size by 2031	US$ XX Million
Global CAGR (2025 - 2031)	XX%
Historical Data	2021-2023
Forecast period	2025-2031
Segments Covered	By Rated Power 0-60 MW 60-100 MW Above 100 MW By Application Co-generation Combined Cycle By End-User Energy and Utilities Chemical Refineries Paper and Pulp Commercial
Regions and Countries Covered	North America US Canada Mexico Europe UK Germany France Russia Italy Rest of Europe Asia-Pacific China India Japan Australia Rest of Asia-Pacific South and Central America Brazil Argentina Rest of South and Central America Middle East and Africa South Africa Saudi Arabia UAE Rest of Middle East and Africa
Market leaders and key company profiles	AC Boilers SpA Cleaver-Brooks, Inc. General Electric John Wood Group PLC Kawasaki Heavy Industries Ltd. Larsen and Toubro Limited Mitsubishi Electric Coporation Rentech, Inc. Siemens AG

Heat Recovery Steam Generator Market Players Density: Understanding Its Impact on Business Dynamics

The Heat Recovery Steam Generator Market is growing rapidly, driven by increasing end-user demand due to factors such as evolving consumer preferences, technological advancements, and greater awareness of the product's benefits. As demand rises, businesses are expanding their offerings, innovating to meet consumer needs, and capitalizing on emerging trends, which further fuels market growth.

heat-recovery-steam-generator-market-cagr

Get the Heat Recovery Steam Generator Market top key players overview

Key Selling Points

Comprehensive Coverage: The report comprehensively covers the analysis of products, services, types, and end users of the Heat Recovery Steam Generator Market, providing a holistic landscape.
Expert Analysis: The report is compiled based on the in-depth understanding of industry experts and analysts.
Up-to-date Information: The report assures business relevance due to its coverage of recent information and data trends.
Customization Options: This report can be customized to cater to specific client requirements and suit the business strategies aptly.

The research report on the Heat Recovery Steam Generator Market can, therefore, help spearhead the trail of decoding and understanding the industry scenario and growth prospects. Although there can be a few valid concerns, the overall benefits of this report tend to outweigh the disadvantages.

Research Manager

Nivedita Upadhyay

Manager,
Market Research & Consulting

Nivedita is an accomplished research professional with over 9 years of experience in Market Research and Business Consulting. Currently serving as a Project Manager in the ICT domain at The Insight Partners, she brings deep expertise in managing and executing Syndicated, Custom, Subscription-based, and Consulting research assignments across diverse technology sectors.

With a proven track record of delivering data-driven analysis and actionable insights, Nivedita has been a key contributor to several critical projects. Her work involves end-to-end project execution—right from understanding client objectives, analyzing market trends, to deriving strategic recommendations. She has collaborated extensively with leading ICT companies, helping them identify market opportunities and navigate industry shifts.

Nivedita holds an MBA in Management from IMS, Dehradun. Prior to joining The Insight Partners, she gained valuable experience at MarketsandMarkets and Future Market Insights in Pune, where she held various research roles and built a strong foundation in industry analysis and client engagement.

What are the Heat Recovery Steam Generator Market report deliverables?

Historical Analysis (2 Years), Base Year, Forecast (7 Years) with CAGR
PEST and SWOT Analysis
Market Size Value / Volume - Global, Regional, Country
Industry and Competitive Landscape
Excel Dataset

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