Heat Recovery Steam Generator Market - Top Companies and Manufacturers

Companies Dominating the Heat Recovery Steam Generator Landscape

Major corporations are making large investments in the integration of cutting-edge technologies for monitoring and optimizing. Investor interest and support have grown in original equipment manufacturing experience, monitoring, and pressure analysis in an HRSG. The need for heat recovery steam generators is also being driven by combined cycle plants' efforts in the development of a clean energy source.

John Wood Group PLC
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Larsen & Toubro Limited
General Electric
Cleaver-Brooks
Siemens Energy
Babcock & Wilcox Enterprises Inc.
Clayton Industries
John Cockerill
Sofinter S.p. A
Bharat Heavy Electricals Limited

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Heat Recovery Steam Generator Market Size & Share | Growth Forecasts 2037

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Larsen & Toubro's Heavy Engineering business has launched the first Steam Generator (SG) for the indigenously manufactured 10 X 700 MWe PHWR Fleet Programme, 12 months ahead of schedule. With this, L&T has surpassed its previous milestone in Singapore manufacturing. SG is a heat exchanger that uses heat from a nuclear reactor core to turn water into steam.
Technip Energies, the head of a consortium alongside GE Vernova and construction partner Balfour Beatty, has received a Letter of Intent from BP on behalf of NZT Power Limited for the implementation phase of the Net Zero Teesside Power project in the United Kingdom. It will be powered by an advanced GE Vernova 9HA.02 gas turbine, a steam turbine, a generator, and a Heat Recovery Steam Generator (HRSG), all of which will be integrated with a cutting-edge carbon capture plant based on Technip Energies' Canopy by T. ENTM solution and Shell CANSOLV® CO2 capture technology.

Frequently Asked Questions (FAQ)

In the year 2025, the industry size of heat recovery steam generator is assessed at USD 1.42 billion.

The heat recovery steam generator market size was over USD 1.37 billion in 2024 and is projected to reach USD 2.4 billion by 2037, witnessing around 4.4% CAGR during the forecast period i.e., between 2025-2037. Increased incorporation of combined cycle power plants will drive the market growth.

North America industry is expected to hold largest revenue share of 35% by 2037, influenced by growing initiatives by government for the installation of renewable energy equipment in the region.

The major players in the market are John Wood Group PLC, Larsen & Toubro Limited, General Electric, Cleaver-Brooks, Siemens Energy, Babcock & Wilcox Enterprises Inc., Clayton Industries, John Cockerill, Sofinter S.p.A, Bharat Heavy Electricals Limited, and others.

Heat Recovery Steam Generator Market - Top Companies and Manufacturers

Companies Dominating the Heat Recovery Steam Generator Landscape

Browse Key Market Insights with Data Illustration:

In the News

Frequently Asked Questions (FAQ)

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