Heat Recovery Steam Generators (HRSGs) for Thermal Power, 2012

Nov. 2, 2012 - PRLog -- As green well and truly becomes the new black, eco-conscious and financially prudent countries alike are looking to Heat Recovery Steam Generators (HRSG) to supplement renewable energy generation, states the latest report from power analysts Globaldata.

According to the firm’s new study*, sales of HRSGs (boilers that recover exhaust heat from gas turbines in order to generate steam for the steam turbines) are expected to grow substantially over the next eight years, with the rising demand for electricity in China acting as a key factor.

The HRSG market in China is expected to reach revenues of $186m in 2020, climbing steadily at a Compound Annual Growth Rate (CAGR) of 8.8% from this year’s expected market value of $95m.

China’s 12th Five Year Plan (FYP), spanning from 2011 to 2015, is focussed on the promotion of clean energy sources, the rapid increase of energy produced at the lowest possible cost, and the reduction of dependence on energy imports.

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Developed nations, however, are typically utilising HRSGs as part of a long term goal to meet carbon emissions targets. The stringency of new regulations on companies generating power from coal has resulted in HRSG market growth, as these are used in Combined Cycle Gas Turbine (CCGT) plants. The stringency of these rules is expected to increase, further driving the need for HRSGs in the future.

Global HRSG shipments amounted to a total of 199 units in 2011. Before the end of the decade, GlobalData predicts the average volume shipment to reach around 251 units each year by 2020.

This report gives detailed information on the drivers, restraints, revenue forecast and market share analysis for the heat hecovery steam generator market.

This report was built using data and information sourced from proprietary databases, primary and secondary research, and in-house analysis conducted by GlobalData’s team of industry experts.

GlobalData is a leading global business intelligence provider offering advanced analytics to help clients make better, more informed decisions every day. Our research and analysis is based on the expert knowledge of over 700 qualified business analysts and 25,000 interviews conducted with industry insiders every year, enabling us to offer the most relevant, reliable and actionable strategic business intelligence available for a wide range of industries.

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