LONDON--(BUSINESS WIRE)--The global heat recovery steam generator market is expected to post a CAGR of close to 5% during the period 2018-2022, according to the latest market research report by Technavio.
A key factor driving the growth of the market is the increase in energy efficiency. Energy efficiency is one of the key factors that will lead to the reduced use of coal and will drive the demand for the other sources such as nuclear and thermal energy to meet the power generation capacity. Higher levels of efficiencies can be achieved by generating higher outputs with the same resources and without adding to more emissions for power generation.
This market research report on the global heat recovery steam generator (HRSG) market 2018-2022 also provides an analysis of the most important trends expected to impact the market outlook during the forecast period. Technavio classifies an emerging trend as a major factor that has the potential to significantly impact the market and contribute to its growth or decline.
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In this report, Technavio highlights government investments as one of the key emerging trends in the global heat recovery steam generator market:
Global heat recovery steam generator market: Government investments
Concerns such as the increase in harmful emissions and enforcement of stricter regulations for climate change mitigation have increased the focus on technologies that can produce power in a much cleaner and efficient manner.
“The extensive use of coal causes a large number of premature deaths per year and numerous causalities. The adverse effects of emissions from coal projects, such as lung cancer, stroke, and respiratory diseases, are expected to increase, thereby, driving the death toll. Globally, government bodies are investing in cleaner advanced technologies such as CCGT plants to improve the energy efficiency,” says a senior market research analyst at Technavio.
Global heat recovery steam generator market: Segmentation analysis
This market research report segments the global heat recovery steam generator market by product (horizontal HRSG and vertical HRSG) and geographical regions (APAC, EMEA, and the Americas).
The horizontal HRSG segment held the largest market share in 2017, accounting for nearly 67% of the market. This product segment is expected to dominate the global market throughout the forecast period.
APAC led the market in 2017 with a market share of nearly 36% of the market share. The market share occupied by this region is anticipated to increase by nearly 2% during 2018-2022.
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Some of the key topics covered in the report include:
- Market ecosystem
- Market characteristics
- Market segmentation analysis
- Market sizing
- Market size and forecast
Five Forces Analysis
- Regional comparison
- Key leading countries
- Vendors covered
- Vendor classification
- Market positioning of vendors
- Competitive scenario
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