Heat Recovery Steam Generator Market Forecast: USD 1.50 Billion in 2024 to USD 1.93 Billion by 2032
Heat Recovery Steam Generator Market Forecast to Reach USD 1.93 Billion by 2032, Driven by Industrial Growth and Energy Efficiency Demands Summary: The global Heat Recovery Steam Generator (HRSG) market was valued at USD 1.50 billion in 2024 and is expected to grow at a CAGR of 3.2% between 2025 and 2032, reaching nearly USD 1.93 billion by the end of the forecast period. This growth is attributed to increasing demand for sustainable energy solutions across industries such as power utilities, chemicals, manufacturing, and petrochemicals. With growing emphasis on operational efficiency and environmental responsibility, HRSG systems are becoming a cornerstone for combined cycle power plants and industrial energy recovery processes.
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