Europe Heat Recovery Steam Generator Market Analysis

Europe Heat Recovery Steam Generator Market Analysis

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Horizontal drum segment is anticipated to grow over USD 350 million by 2034. These units are gaining popularity owing to their ease of compatibility and lower capital expenditure. These systems feature horizontal exhaust gas fans and vertically arranged heat exchanger tube bundles, and its design promotes natural circulation of water and steam mixture through the evaporator tubes. Ongoing technological advancements and the expansion of combined cycle power plants are set to positively influence the business dynamics.
 

Europe heat recovery steam generator market from ≤ 30 MW segment is anticipated to witness a CAGR of over 4% till 2034. Growing adoption rate across small-scale generation plants and various industrial applications along with adoption of these units for process heating and commercial spaces in cold climates will complement the industry landscape. The increasing demand for micro gas turbines and the continuous deployment of cogeneration systems have enabled an encouraging business scenario for industry players.
 

Germany heat recovery steam generator market is set to grow over USD 100 million by 2034. Government regulations aimed at reducing coal-based power plants, significant increase in energy demand, ongoing expansion and development of cogeneration technologies, is complementing the business landscape. For instance, in September 2024, Germany's National Energy and Climate Plan maps out the country's strategy to meet EU 2030 energy and climate goals. This decade-long plan aims to cut emissions and boost clean energy. Despite setting high renewable targets, the NECP reveals Germany's ongoing reliance on foreign fossil fuels and a limited clean energy technology portfolio.