Heat Recovery Steam Generator for Gas Turbines Market Report – Research, Industry Analysis Reports and Market Demands

Global Heat Recovery Steam Generator for Gas Turbines Market 2026 by Manufacturers, Regions, Type and Application, Forecast to 2032

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Table of Content

1 Market Overview

1.1 Product Overview and Scope
1.2 Market Estimation Caveats and Base Year
1.3 Market Analysis by Type
- 1.3.1 Overview: Global Heat Recovery Steam Generator for Gas Turbines Consumption Value by Type: 2021 Versus 2025 Versus 2032
- 1.3.2 Less Than 50 MW
- 1.3.3 50 MW-100 MW
1.4 Market Analysis by Steam Pressure Level
- 1.4.1 Overview: Global Heat Recovery Steam Generator for Gas Turbines Consumption Value by Steam Pressure Level: 2021 Versus 2025 Versus 2032
- 1.4.2 Single Pressure
- 1.4.3 Dual Pressure
- 1.4.4 Triple Pressure
- 1.4.5 Others
1.5 Market Analysis by Application
- 1.5.1 Overview: Global Heat Recovery Steam Generator for Gas Turbines Consumption Value by Application: 2021 Versus 2025 Versus 2032
- 1.5.2 Power Generation
- 1.5.3 Industrial
- 1.5.4 Chemical Industry
- 1.5.5 Others
1.6 Global Heat Recovery Steam Generator for Gas Turbines Market Size & Forecast
- 1.6.1 Global Heat Recovery Steam Generator for Gas Turbines Consumption Value (2021 & 2025 & 2032)
- 1.6.2 Global Heat Recovery Steam Generator for Gas Turbines Sales Quantity (2021-2032)
- 1.6.3 Global Heat Recovery Steam Generator for Gas Turbines Average Price (2021-2032)

2 Manufacturers Profiles

3 Competitive Environment: Heat Recovery Steam Generator for Gas Turbines by Manufacturer

3.1 Global Heat Recovery Steam Generator for Gas Turbines Sales Quantity by Manufacturer (2021-2026)
3.2 Global Heat Recovery Steam Generator for Gas Turbines Revenue by Manufacturer (2021-2026)
3.3 Global Heat Recovery Steam Generator for Gas Turbines Average Price by Manufacturer (2021-2026)
3.4 Market Share Analysis (2025)
- 3.4.1 Producer Shipments of Heat Recovery Steam Generator for Gas Turbines by Manufacturer Revenue ($MM) and Market Share (%): 2025
- 3.4.2 Top 3 Heat Recovery Steam Generator for Gas Turbines Manufacturer Market Share in 2025
- 3.4.3 Top 6 Heat Recovery Steam Generator for Gas Turbines Manufacturer Market Share in 2025
3.5 Heat Recovery Steam Generator for Gas Turbines Market: Overall Company Footprint Analysis
- 3.5.1 Heat Recovery Steam Generator for Gas Turbines Market: Region Footprint
- 3.5.2 Heat Recovery Steam Generator for Gas Turbines Market: Company Product Type Footprint
- 3.5.3 Heat Recovery Steam Generator for Gas Turbines Market: Company Product Application Footprint
3.6 New Market Entrants and Barriers to Market Entry
3.7 Mergers, Acquisition, Agreements, and Collaborations

4 Consumption Analysis by Region

4.1 Global Heat Recovery Steam Generator for Gas Turbines Market Size by Region
- 4.1.1 Global Heat Recovery Steam Generator for Gas Turbines Sales Quantity by Region (2021-2032)
- 4.1.2 Global Heat Recovery Steam Generator for Gas Turbines Consumption Value by Region (2021-2032)
- 4.1.3 Global Heat Recovery Steam Generator for Gas Turbines Average Price by Region (2021-2032)
4.2 North America Heat Recovery Steam Generator for Gas Turbines Consumption Value (2021-2032)
4.3 Europe Heat Recovery Steam Generator for Gas Turbines Consumption Value (2021-2032)
4.4 Asia-Pacific Heat Recovery Steam Generator for Gas Turbines Consumption Value (2021-2032)
4.5 South America Heat Recovery Steam Generator for Gas Turbines Consumption Value (2021-2032)
4.6 Middle East & Africa Heat Recovery Steam Generator for Gas Turbines Consumption Value (2021-2032)

5 Market Segment by Type

5.1 Global Heat Recovery Steam Generator for Gas Turbines Sales Quantity by Type (2021-2032)
5.2 Global Heat Recovery Steam Generator for Gas Turbines Consumption Value by Type (2021-2032)
5.3 Global Heat Recovery Steam Generator for Gas Turbines Average Price by Type (2021-2032)

6 Market Segment by Application

6.1 Global Heat Recovery Steam Generator for Gas Turbines Sales Quantity by Application (2021-2032)
6.2 Global Heat Recovery Steam Generator for Gas Turbines Consumption Value by Application (2021-2032)
6.3 Global Heat Recovery Steam Generator for Gas Turbines Average Price by Application (2021-2032)

7 North America

7.1 North America Heat Recovery Steam Generator for Gas Turbines Sales Quantity by Type (2021-2032)
7.2 North America Heat Recovery Steam Generator for Gas Turbines Sales Quantity by Application (2021-2032)
7.3 North America Heat Recovery Steam Generator for Gas Turbines Market Size by Country
- 7.3.1 North America Heat Recovery Steam Generator for Gas Turbines Sales Quantity by Country (2021-2032)
- 7.3.2 North America Heat Recovery Steam Generator for Gas Turbines Consumption Value by Country (2021-2032)
- 7.3.3 United States Market Size and Forecast (2021-2032)
- 7.3.4 Canada Market Size and Forecast (2021-2032)
- 7.3.5 Mexico Market Size and Forecast (2021-2032)

8 Europe

8.1 Europe Heat Recovery Steam Generator for Gas Turbines Sales Quantity by Type (2021-2032)
8.2 Europe Heat Recovery Steam Generator for Gas Turbines Sales Quantity by Application (2021-2032)
8.3 Europe Heat Recovery Steam Generator for Gas Turbines Market Size by Country
- 8.3.1 Europe Heat Recovery Steam Generator for Gas Turbines Sales Quantity by Country (2021-2032)
- 8.3.2 Europe Heat Recovery Steam Generator for Gas Turbines Consumption Value by Country (2021-2032)
- 8.3.3 Germany Market Size and Forecast (2021-2032)
- 8.3.4 France Market Size and Forecast (2021-2032)
- 8.3.5 United Kingdom Market Size and Forecast (2021-2032)
- 8.3.6 Russia Market Size and Forecast (2021-2032)
- 8.3.7 Italy Market Size and Forecast (2021-2032)

9 Asia-Pacific

9.1 Asia-Pacific Heat Recovery Steam Generator for Gas Turbines Sales Quantity by Type (2021-2032)
9.2 Asia-Pacific Heat Recovery Steam Generator for Gas Turbines Sales Quantity by Application (2021-2032)
9.3 Asia-Pacific Heat Recovery Steam Generator for Gas Turbines Market Size by Region
- 9.3.1 Asia-Pacific Heat Recovery Steam Generator for Gas Turbines Sales Quantity by Region (2021-2032)
- 9.3.2 Asia-Pacific Heat Recovery Steam Generator for Gas Turbines Consumption Value by Region (2021-2032)
- 9.3.3 China Market Size and Forecast (2021-2032)
- 9.3.4 Japan Market Size and Forecast (2021-2032)
- 9.3.5 South Korea Market Size and Forecast (2021-2032)
- 9.3.6 India Market Size and Forecast (2021-2032)
- 9.3.7 Southeast Asia Market Size and Forecast (2021-2032)
- 9.3.8 Australia Market Size and Forecast (2021-2032)

10 South America

10.1 South America Heat Recovery Steam Generator for Gas Turbines Sales Quantity by Type (2021-2032)
10.2 South America Heat Recovery Steam Generator for Gas Turbines Sales Quantity by Application (2021-2032)
10.3 South America Heat Recovery Steam Generator for Gas Turbines Market Size by Country
- 10.3.1 South America Heat Recovery Steam Generator for Gas Turbines Sales Quantity by Country (2021-2032)
- 10.3.2 South America Heat Recovery Steam Generator for Gas Turbines Consumption Value by Country (2021-2032)
- 10.3.3 Brazil Market Size and Forecast (2021-2032)
- 10.3.4 Argentina Market Size and Forecast (2021-2032)

11 Middle East & Africa

11.1 Middle East & Africa Heat Recovery Steam Generator for Gas Turbines Sales Quantity by Type (2021-2032)
11.2 Middle East & Africa Heat Recovery Steam Generator for Gas Turbines Sales Quantity by Application (2021-2032)
11.3 Middle East & Africa Heat Recovery Steam Generator for Gas Turbines Market Size by Country
- 11.3.1 Middle East & Africa Heat Recovery Steam Generator for Gas Turbines Sales Quantity by Country (2021-2032)
- 11.3.2 Middle East & Africa Heat Recovery Steam Generator for Gas Turbines Consumption Value by Country (2021-2032)
- 11.3.3 Turkey Market Size and Forecast (2021-2032)
- 11.3.4 Egypt Market Size and Forecast (2021-2032)
- 11.3.5 Saudi Arabia Market Size and Forecast (2021-2032)
- 11.3.6 South Africa Market Size and Forecast (2021-2032)

12 Market Dynamics

12.1 Heat Recovery Steam Generator for Gas Turbines Market Drivers
12.2 Heat Recovery Steam Generator for Gas Turbines Market Restraints
12.3 Heat Recovery Steam Generator for Gas Turbines Trends Analysis
12.4 Porters Five Forces Analysis
- 12.4.1 Threat of New Entrants
- 12.4.2 Bargaining Power of Suppliers
- 12.4.3 Bargaining Power of Buyers
- 12.4.4 Threat of Substitutes
- 12.4.5 Competitive Rivalry

13 Raw Material and Industry Chain

13.1 Raw Material of Heat Recovery Steam Generator for Gas Turbines and Key Manufacturers
13.2 Manufacturing Costs Percentage of Heat Recovery Steam Generator for Gas Turbines
13.3 Heat Recovery Steam Generator for Gas Turbines Production Process
13.4 Industry Value Chain Analysis

14 Shipments by Distribution Channel

14.1 Sales Channel
- 14.1.1 Direct to End-User
- 14.1.2 Distributors
14.2 Heat Recovery Steam Generator for Gas Turbines Typical Distributors
14.3 Heat Recovery Steam Generator for Gas Turbines Typical Customers

15 Research Findings and Conclusion

16 Appendix

16.1 Methodology
16.2 Research Process and Data Source

Description

According to our (Global Info Research) latest study, the global Heat Recovery Steam Generator for Gas Turbines market size was valued at US$ 597 million in 2025 and is forecast to a readjusted size of US$ 732 million by 2032 with a CAGR of 3.0% during review period.
In 2024, global production of waste heat boilers (HRSGs) for gas turbines reached 2,109 units, with an average selling price of US$250,000 per unit.
HRSGs are heat exchangers that utilize heat from gas turbine exhaust to generate steam. By recovering the heat energy from high-temperature exhaust gas and converting it into steam, they improve the overall efficiency of the combined heat and power system and reduce fuel consumption and emissions.
The HRSG industry chain comprises upstream raw materials such as steel, steel pipes, steel plates, round steel, flat steel, and forgings; midstream is HRSG manufacturing; and downstream encompasses HRSGs and a wide range of industrial sectors, including metallurgy, papermaking, chemicals, and building materials machinery.
In the current market environment, gas turbine waste heat generators (HRSGs) are gaining increasing strategic importance. HRSGs effectively recover waste heat generated by gas turbines during power generation and convert it into usable thermal energy. This process not only improves overall energy efficiency but also provides additional support for data center cooling needs.
The market outlook for waste heat generators (HRSGs) in gas turbine applications is promising. With the increasing emphasis on energy efficiency and sustainability, HRSGs play a vital role in optimizing power generation. These devices recover waste heat from gas turbine exhaust, delivering significant economic and environmental benefits. The global shift toward clean energy and the demand for more efficient power generation methods further enhance the market potential for HRSGs. Furthermore, the growing demand for industrial steam across various industries is creating opportunities for HRSGs in applications such as combined heat and power (CHP) and district heating. Overall, driven by the pursuit of greater energy efficiency and sustainability, the HRSG market outlook is promising.
This report is a detailed and comprehensive analysis for global Heat Recovery Steam Generator for Gas Turbines market. Both quantitative and qualitative analyses are presented by manufacturers, by region & country, by Type and by Application. As the market is constantly changing, this report explores the competition, supply and demand trends, as well as key factors that contribute to its changing demands across many markets. Company profiles and product examples of selected competitors, along with market share estimates of some of the selected leaders for the year 2025, are provided.
Key Features:
Global Heat Recovery Steam Generator for Gas Turbines market size and forecasts, in consumption value ($ Million), sales quantity (Units), and average selling prices (K US$/Unit), 2021-2032
Global Heat Recovery Steam Generator for Gas Turbines market size and forecasts by region and country, in consumption value ($ Million), sales quantity (Units), and average selling prices (K US$/Unit), 2021-2032
Global Heat Recovery Steam Generator for Gas Turbines market size and forecasts, by Type and by Application, in consumption value ($ Million), sales quantity (Units), and average selling prices (K US$/Unit), 2021-2032
Global Heat Recovery Steam Generator for Gas Turbines market shares of main players, shipments in revenue ($ Million), sales quantity (Units), and ASP (K US$/Unit), 2021-2026
The Primary Objectives in This Report Are:
To determine the size of the total market opportunity of global and key countries
To assess the growth potential for Heat Recovery Steam Generator for Gas Turbines
To forecast future growth in each product and end-use market
To assess competitive factors affecting the marketplace
This report profiles key players in the global Heat Recovery Steam Generator for Gas Turbines market based on the following parameters - company overview, sales quantity, revenue, price, gross margin, product portfolio, geographical presence, and key developments. Key companies covered as a part of this study include BHI, Thermax, Nooter Eriksen, CMI Energy, Clyde Bergemann, GE, Siemens, VOGT Power, STF, Babcock & Wilcox, etc.
This report also provides key insights about market drivers, restraints, opportunities, new product launches or approvals.
Market Segmentation
Heat Recovery Steam Generator for Gas Turbines market is split by Type and by Application. For the period 2021-2032, the growth among segments provides accurate calculations and forecasts for consumption value by Type, and by Application in terms of volume and value. This analysis can help you expand your business by targeting qualified niche markets.
Market segment by Type
Less Than 50 MW
50 MW-100 MW
Market segment by Steam Pressure Level
Single Pressure
Dual Pressure
Triple Pressure
Others
Market segment by Application
Power Generation
Industrial
Chemical Industry
Others
Major players covered
BHI
Thermax
Nooter Eriksen
CMI Energy
Clyde Bergemann
GE
Siemens
VOGT Power
STF
Babcock & Wilcox
Mitsubishi
Bharat Heavy Electricals
Wuxi Huaguang Environment&Energy
Xizi Clean Energy Equipment Manufacturing
HANGZHOU BOLIER GROUP INDUSTRIAL BOLIER
ZHENG GUO
SHANGHAI ELECTRIC
TAISHAN GROUP
DEVOTION EQUIPMENT
DONGFANG BOILER
SFGL
Market segment by region, regional analysis covers
North America (United States, Canada, and Mexico)
Europe (Germany, France, United Kingdom, Russia, Italy, and Rest of Europe)
Asia-Pacific (China, Japan, Korea, India, Southeast Asia, and Australia)
South America (Brazil, Argentina, Colombia, and Rest of South America)
Middle East & Africa (Saudi Arabia, UAE, Egypt, South Africa, and Rest of Middle East & Africa)
The content of the study subjects, includes a total of 15 chapters:
Chapter 1, to describe Heat Recovery Steam Generator for Gas Turbines product scope, market overview, market estimation caveats and base year.
Chapter 2, to profile the top manufacturers of Heat Recovery Steam Generator for Gas Turbines, with price, sales quantity, revenue, and global market share of Heat Recovery Steam Generator for Gas Turbines from 2021 to 2026.
Chapter 3, the Heat Recovery Steam Generator for Gas Turbines competitive situation, sales quantity, revenue, and global market share of top manufacturers are analyzed emphatically by landscape contrast.
Chapter 4, the Heat Recovery Steam Generator for Gas Turbines breakdown data are shown at the regional level, to show the sales quantity, consumption value, and growth by regions, from 2021 to 2032.
Chapter 5 and 6, to segment the sales by Type and by Application, with sales market share and growth rate by Type, by Application, from 2021 to 2032.
Chapter 7, 8, 9, 10 and 11, to break the sales data at the country level, with sales quantity, consumption value, and market share for key countries in the world, from 2021 to 2026.and Heat Recovery Steam Generator for Gas Turbines market forecast, by regions, by Type, and by Application, with sales and revenue, from 2027 to 2032.
Chapter 12, market dynamics, drivers, restraints, trends, and Porters Five Forces analysis.
Chapter 13, the key raw materials and key suppliers, and industry chain of Heat Recovery Steam Generator for Gas Turbines.
Chapter 14 and 15, to describe Heat Recovery Steam Generator for Gas Turbines sales channel, distributors, customers, research findings and conclusion.

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