Asia Pacific Heat Recovery Steam Generator Market Size & Outlook
The heat recovery steam generator market in Asia Pacific is expected to reach a projected revenue of US$ 701.1 million by 2030. A compound annual growth rate of 5.4% is expected of Asia Pacific heat recovery steam generator market from 2024 to 2030.
Revenue, 2023 (US$M)
$485.2
Forecast, 2030 (US$M)
$701.1
CAGR, 2024 - 2030
5.4%
Report Coverage
Asia Pacific
Asia Pacific heat recovery steam generator market, 2018-2030 (US$M)
Asia Pacific heat recovery steam generator market highlights
- The Asia Pacific heat recovery steam generator market generated a revenue of USD 485.2 million in 2023.
- The market is expected to grow at a CAGR of 5.4% from 2024 to 2030.
- In terms of segment, horizontal drum was the largest revenue generating design in 2023.
- Horizontal Drum is the most lucrative design segment registering the fastest growth during the forecast period.
Asia Pacific data book summary
| Market revenue in 2023 | USD 485.2 million |
| Market revenue in 2030 | USD 701.1 million |
| Growth rate | 5.4% (CAGR from 2023 to 2030) |
| Largest segment | Horizontal drum |
| Fastest growing segment | Horizontal Drum |
| Historical data covered | 2018 - 2022 |
| Base year for estimation | 2023 |
| Forecast period covered | 2024 - 2030 |
| Quantitative units | Revenue in USD million |
| Market segmentation | Horizontal Drum |
| Key market players worldwide | Mitsubishi Heavy Industries Ltd, Thermax, GE Vernova Inc, Bharat Heavy Electricals, Larsen & Toubro Ltd DR, Isgec Heavy Engineering, Kawasaki Heavy Industries Ltd, Siemens, John Cockerill, Babcock & Wilcox Enterprises Inc, Alstom SA, Kelvion, Rentech Boiler Systems |
Other key industry trends
- In terms of revenue, Asia Pacific region accounted for 36.1% of the global heat recovery steam generator market in 2023.
- Globally, Asia Pacific is projected to lead the regional market in terms of revenue in 2030.
- Asia Pacific is the fastest growing regional market and is projected to reach USD 701.1 million by 2030.
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Heat Recovery Steam Generator Market Scope
Heat recovery steam generator market segmentation & scope
Mode of Operation
Cogeneration
Combined Cycle
Power
Up to 30 MW
31 to 100 MW
101 to 200 MW
201 to 300 MW
Above 300 MW
End Use
Commercial
Chemical
Refineries
Utilities
Pulp & Paper
Other
Countries
Argentina
Brazil
Denmark
Germany
France
Italy
Norway
Spain
Sweden
UK
Canada
Mexico
U.S.
Kuwait
Saudi Arabia
South Africa
UAE
Australia
China
India
Japan
South Korea
Thailand
Heat Recovery Steam Generator Market Companies
| Name | Profile | # Employees | HQ | Website |
|---|
Asia Pacific heat recovery steam generator market
Related regional statistics
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