Global Heat Recovery Steam Generator for Gas Turbines Market Strategic Research Report

Scope of the Report

The global Heat Recovery Steam Generator for Gas Turbines market size is predicted to grow from US$ 567 million in 2025 to US$ 703 million in 2032; it is expected to grow at a CAGR of 3.2% from 2026 to 2032.

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.

Key Questions Addressed in this Report

What is the 10-year outlook for the global Heat Recovery Steam Generator for Gas Turbines market?

What factors are driving Heat Recovery Steam Generator for Gas Turbines market growth, globally and by region?

Which technologies are poised for the fastest growth by market and region?

How do Heat Recovery Steam Generator for Gas Turbines market opportunities vary by end market size?

How does Heat Recovery Steam Generator for Gas Turbines break out by Type, by Application?

This report presents a comprehensive overview of the global Heat Recovery Steam Generator for Gas Turbines market, covering market size and forecast, segmentation by product type and application, competitive landscape, leading players and regional and country-level outlook.

Segment by Type

• Less Than 50 MW
• 50 MW-100 MW

Segment by Steam Pressure Level

• Single Pressure
• Dual Pressure
• Triple Pressure
• Others

Segment by Application

• Power Generation
• Industrial
• Chemical Industry
• Others

Who Can Use This Report?

This report is written for decision-makers who need a clear, data-backed view of the global Heat Recovery Steam Generator for Gas Turbines market:

• Manufacturers, suppliers and solution providers benchmarking their position and planning product, capacity and go-to-market strategy
• Distributors, channel partners and end users in Power Generation, Industrial, Chemical Industry evaluating demand and sourcing options
• Investors, financial analysts and consultants assessing growth opportunities, competitive dynamics and M&A potential
• Government agencies, industry associations and research institutions tracking industry developments and policy impact