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Europe Heat Recovery Steam Generator Market Trends

Report ID: GMI5728
Published Date: Dec 2024
Report Format: PDF

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Europe Heat Recovery Steam Generator Market Trends

Europe heat recovery steam generator industry is anticipated to witness significant growth owing to focus on integrating renewable energy sources along with substitution of coal with gas in small-scale industrial applications. Rising energy requirements and substantial investments in advanced turbine systems along with energy efficiency policies have encouraged the expansion of these plants, contributing to industry growth. For instance, In November 2023, NEM received certification for H2-Readiness in power plants for its products from TÜV SÜD. The certification confirms that NEM's HRSG can handle up to 100% hydrogen fuel, aligning with hydrogen use in energy systems.

Authors: Ankit Gupta, Manish Dhiman

Frequently Asked Questions (FAQ) :

The Europe market size for heat recovery steam generator was valued at USD 427.2 million in 2024 and is expected to reach USD 674.2 million by 2034, driven by a CAGR of 4.5% from 2025 to 2034.

The horizontal drum segment is anticipated to exceed USD 350 million by 2034, driven by its ease of compatibility and lower capital expenditure.

The Germany heat recovery steam generator market is projected to surpass USD 100 million by 2034, driven by government regulations aimed at reducing coal-based power plants and the expansion of cogeneration technologies.

Major players in the industry include Babcock & Wilcox, Boustead International Heaters, CF Struthers, CIC Group, Clyde Bergemann, Clayton Industries, GE Vernova, Harris Pye, John Cockerill, John Wood Group, Kawasaki Heavy Industries, Mitsubishi Heavy Industries, NEM, Siemens Energy, Sofinter, and Thermax.