Industrial PC Market : During the assessment period, the global Industrial PC Market is expected to register a robust CAGR of 6%, from US$ 5 Bn in 2021 to US$ 9.4 Bn in 2032 Stacker Crane Market : From 2022 to 2032, the Stacker Cranes Market is expected to grow at a CAGR of 7%, from an estimated USD 976 million in 2021 to USD 2022.48 million in 2032 The agreement is intended to maintain reliable energy access in Mindanao.īiocomposites Market : During the assessment period, the global biocomposites market is expected to increase at a robust CAGR of 16%, from US$ 25 Bn in 2021 to US$ 128 Bn in 2032 In August 2021, Mitsubishi Power’s Philippines unit secured a three-year term service agreement to maintain boilers of the Davao coal plant of Aboitiz Power Corp.have signed a memorandum of understanding to develop a hydrogen-based, including a 100-200 MW pilot electrolyzer facility for the clean energy industry. In August 2021, Siemens Energy and state-owned Egyptian Electricity Holding Co.Leading players, as a part of their growth strategies, are focusing on strategic collaborations, mergers, and acquisitions to expand their global footprint and improve their product portfolios. Top 5 players in the market include General Electric, Siemens AG, CMI Group, John Wood Group plc, and Mitsubishi Hitachi Power Systems Ltd., accounting for 75.5% of the total market share. Japan and South Korea will collectively account for 5% of the total market share.įor More Information or Query or Customization LandscapeĬleaver-Brooks, Siemens AG, General Electric, CMI Group, John Wood Group PLC, Cannon S.p.A., Mitsubishi Hitachi Power Systems, Ltd., Rentech Boilers Systems Inc., Hamon Deltak, Inc., AC BOILERS SpA, SES Tlmače, a.s., and Xizi United Holdings Limited are some players operating in the heat recovery steam generator market profiled by FMI.India will emerge as a lucrative market, owing to government-backed initiatives promoting renewable energy production.Demand for heat recovery steam generators will continue rising in China, due to rising adoption of combined cycle plants.will continue leading the European heat recovery steam generator market, expanding at a 4.6% CAGR. The North American market is poised to grow at a 4.4% CAGR. is anticipated to witness high demand for heat recovery steam generators, owing to increasing energy production and need for sustainable methods. Combined heat and power plants will dominate the application segment.Based on output power, 0-60 MW segment is poised to experience high demand.In terms of configuration, horizontal drums will account for maximum sales.Fully assembled heat recovery steam generators will remain the most preferred type of design.“Increasing investments in the power generation sector to improve efficiency, coupled with inorganic growth strategies adopted by OEMs for better market reach will continue augmenting growth in the forthcoming years,” says the FMI analyst. Stringent regulations regarding carbon emissions in the European Union, coupled with increasing adoption of renewable energy sources will enhance growth prospects through 2031. is anticipated to lead the European heat recovery generator market.
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Get | Download per FMI’s regional analysis, the U.K. In addition, government initiatives in counties such as the U.S., the U.K., India, and China regarding the promotion of renewable energy will spur demand for heat recovery steam generators in the forthcoming years.įurther, sophisticated customization and innovative product solutions offered by OEM’s and heat recovery steam generator players will continue providing tailwinds to sales. With the U.S., the U.K., Germany, and Japan emerging as key producers, the market is poised to grow at a 5.7% CAGR through 2031. As per ESOMAR-certified consulting firm Future Market Insights (FMI), the global heat recovery steam generator market is anticipated to reach US 1.1 Bn in 2021.