Single Pressure HRSG Market Size, Share, Growth, and Industry Analysis, By Types (Vertical, Horizontal), By Applications (Power Station, Industrial Production) , and Regional Insights and Forecast to 2034

Single Pressure HRSG Market Size

The Global Single Pressure HRSG Market size was USD 8.59 Billion in 2024 and is projected to touch USD 8.6 Billion in 2025, further reaching USD 8.69 Billion by 2034. This growth reflects a CAGR of 0.11% during the forecast period [2025-2034]. With more than 42% share concentrated in Asia-Pacific, 28% in Europe, 22% in North America, and 8% in Middle East & Africa, the market demonstrates stable expansion driven by combined cycle projects and industrial adoption.

The US Single Pressure HRSG Market is showing consistent expansion with nearly 55% share attributed to modernization of thermal power plants and around 30% supported by industrial facility upgrades. Additionally, 15% of the growth comes from natural gas projects, with the region maintaining strong demand for efficient and reliable single pressure HRSG systems in both utility and industrial applications.

Key Findings

• Market Size: Global market stood at $8.59 billion in 2024, projected $8.6 billion in 2025, and $8.69 billion by 2034 with 0.11% CAGR.
• Growth Drivers: 65% driven by gas-fired power generation expansion and 48% adoption in industrial facilities ensuring energy efficiency and lower emissions.
• Trends: 42% market held by Asia-Pacific, 28% Europe focus on decarbonization, 22% North America modernization, 8% Middle East & Africa expansion.
• Key Players: Mitsubishi, Nooter Eriksen, Doosan E&C, Babcock & Wilcox, Alstom Power & more.
• Regional Insights: Asia-Pacific 42%, Europe 28%, North America 22%, Middle East & Africa 8%, together capturing 100% global market share distribution.
• Challenges: 52% operators impacted by volatile fuel prices and 44% face retrofitting limitations in existing power infrastructure worldwide.
• Industry Impact: 55% vertical system adoption, 45% horizontal demand, 68% power station applications, 32% industrial adoption shaping global operational strategies.
• Recent Developments: 40% focus on low-NOx technologies, 36% modular designs, 30% predictive maintenance integration, 28% advanced thermal transfer improvements.

Single Pressure HRSG Market continues to evolve with strong emphasis on emission reduction, efficiency optimization, and operational reliability, with adoption led by Asia-Pacific and Europe. Industrial and power generation sectors drive higher penetration rates, and leading manufacturers are investing heavily in product innovation and digital integration.

Single Pressure HRSG Market Trends

The Single Pressure HRSG Market is witnessing a steady evolution driven by efficiency upgrades and regional energy transitions. Around 42% of installed single pressure HRSG systems are concentrated in Asia Pacific, reflecting the region’s rapid adoption of gas-fired power generation. Europe accounts for nearly 28% of installations, supported by decarbonization policies and combined cycle projects. North America holds close to 22% share, emphasizing modernization of aging thermal assets. The Middle East & Africa region contributes about 8%, primarily fueled by natural gas exploration and downstream power development. More than 60% of projects in this market are integrated into combined cycle power plants, ensuring lower emissions and higher thermal efficiency, making this segment highly competitive in global energy infrastructure.

Single Pressure HRSG Market Dynamics

DRIVERS

Expansion of gas-fired power plants

Nearly 65% of global single pressure HRSG installations are linked to gas-fired power generation, with 42% of utilities emphasizing efficiency gains through HRSG integration to optimize energy use and reduce emissions.

OPPORTUNITY

Adoption in combined cycle projects

Over 58% of upcoming combined cycle power projects prefer single pressure HRSG units for simplified operations. Around 45% of mid-scale plants choose these systems to minimize capital investment and accelerate commissioning timelines.

RESTRAINTS

"Fuel price fluctuations"

Approximately 52% of operators consider volatile fuel prices a barrier to deploying single pressure HRSG systems. Nearly 34% of project delays are tied to rising input costs, directly limiting expansion plans in cost-sensitive regions.

CHALLENGE

"Retrofitting complexity"

More than 44% of existing thermal power plants encounter engineering limitations during HRSG retrofits. Around 29% of plant owners highlight technical inefficiencies, while 27% report additional costs due to integration challenges in older infrastructures.

Segmentation Analysis

The Global Single Pressure HRSG Market, valued at USD 8.59 Billion in 2024, is projected to reach USD 8.6 Billion in 2025 and USD 8.69 Billion by 2034, expanding at a CAGR of 0.11% during 2025–2034. Segmentation by type and application highlights clear growth patterns, with vertical and horizontal configurations showing distinct adoption levels, while power station and industrial production applications dominate overall demand. Each segment reflects different market dynamics, contributing specific shares and growth opportunities across global regions.

By Type

Vertical

Vertical single pressure HRSG systems are favored for compact layouts and efficiency in space-limited installations. They are commonly deployed in mid-sized power plants and industrial facilities, accounting for more than 55% of total installations worldwide due to their design flexibility and operational simplicity.

Vertical HRSGs accounted for USD 4.73 Billion in 2025, representing 55% of the overall market share, with a CAGR of 0.12% during 2025–2034, supported by rising adoption in Asia-Pacific and Europe.

Top 3 Major Dominant Countries in the Vertical Segment

• China led the Vertical segment with a market size of USD 1.18 Billion in 2025, holding a 25% share and expected to grow at a CAGR of 0.13% due to power plant expansions and clean energy initiatives.
• United States followed with USD 0.95 Billion in 2025, securing a 20% share and projected CAGR of 0.11%, driven by modernization of thermal power infrastructure.
• Germany recorded USD 0.71 Billion in 2025, holding 15% share with a CAGR of 0.10% due to efficiency-focused combined cycle plant investments.

Horizontal

Horizontal single pressure HRSGs dominate large-scale projects, particularly where high output and lower maintenance requirements are prioritized. With their robust structure, they account for nearly 45% of the market, supported by demand from large power utilities and industrial clusters in high-capacity regions.

Horizontal HRSGs accounted for USD 3.87 Billion in 2025, representing 45% of the overall market share, with a CAGR of 0.10% during 2025–2034, driven by expansion in North America and the Middle East.

Top 3 Major Dominant Countries in the Horizontal Segment

• United States led the Horizontal segment with a market size of USD 1.16 Billion in 2025, holding a 30% share and expected CAGR of 0.11% due to high adoption in utility-scale power projects.
• Saudi Arabia contributed USD 0.97 Billion in 2025, maintaining a 25% share and CAGR of 0.09%, supported by major gas-fired generation investments.
• India reached USD 0.77 Billion in 2025, capturing 20% share with a CAGR of 0.12% as industrial and grid reliability projects expand.

By Application

Power Station

Power station applications account for the largest portion of the single pressure HRSG market, representing over 68% of demand. These systems are integrated in large-scale combined cycle plants to enhance energy efficiency and reduce emissions across electricity grids worldwide.

Power Station applications held USD 5.84 Billion in 2025, representing 68% of the total market share, with a CAGR of 0.12% from 2025–2034, supported by expansion in gas-fired generation and combined cycle capacity.

Top 3 Major Dominant Countries in the Power Station Segment

• China led the Power Station segment with a market size of USD 1.52 Billion in 2025, holding a 26% share and expected CAGR of 0.13% driven by rapid grid expansion and cleaner energy initiatives.
• United States followed with USD 1.34 Billion in 2025, representing 23% share and a CAGR of 0.11%, fueled by upgrades to existing power stations.
• Japan recorded USD 0.82 Billion in 2025, holding 14% share and CAGR of 0.10% due to efficiency-focused plant modernization projects.

Industrial Production

Industrial production applications make up about 32% of the market, with HRSG systems widely adopted in oil & gas, petrochemicals, and heavy industries for combined heat and power utilization. This segment grows with emphasis on energy conservation in manufacturing sectors.

Industrial Production applications accounted for USD 2.76 Billion in 2025, representing 32% of the total market share, with a CAGR of 0.10% from 2025–2034, driven by efficiency gains in energy-intensive industries.

Top 3 Major Dominant Countries in the Industrial Production Segment

• India led the Industrial Production segment with a market size of USD 0.76 Billion in 2025, holding a 28% share and expected CAGR of 0.11% due to rising demand in petrochemical and refinery projects.
• Germany recorded USD 0.68 Billion in 2025, capturing 25% share with a CAGR of 0.10% fueled by strong industrial energy efficiency policies.
• South Korea reached USD 0.52 Billion in 2025, holding 19% share with a CAGR of 0.12% supported by industrial modernization and smart energy solutions.

Single Pressure HRSG Market Regional Outlook

The Global Single Pressure HRSG Market was valued at USD 8.59 Billion in 2024 and is projected to reach USD 8.6 Billion in 2025 and USD 8.69 Billion by 2034, reflecting a CAGR of 0.11% during the forecast period. Regional distribution shows Asia-Pacific leading with 42% share, Europe following with 28%, North America holding 22%, and Middle East & Africa accounting for 8%, together contributing to 100% of the total market share.

North America

North America’s market growth is strongly supported by modernization of aging power plants and industrial efficiency projects. The region captures 22% of the global market, with utility-scale combined cycle plants driving adoption in both the United States and Canada. Demand is further enhanced by natural gas availability and energy security policies.

North America held USD 1.89 Billion in 2025, representing 22% of the overall market. This growth is driven by grid reliability needs, efficiency upgrades, and expansion of gas-fired generation capacity.

North America - Major Dominant Countries in the Single Pressure HRSG Market

• United States led the region with USD 1.05 Billion in 2025, holding a 55% share due to modernization of thermal plants and large combined cycle projects.
• Canada followed with USD 0.56 Billion in 2025, holding a 30% share supported by clean energy investments and industrial efficiency policies.
• Mexico recorded USD 0.28 Billion in 2025, with a 15% share, driven by expansion in gas-based generation and industrial power demand.

Europe

Europe accounts for 28% of the market, led by clean energy integration and decarbonization strategies. Countries such as Germany, France, and the UK are emphasizing combined cycle plants, contributing significantly to single pressure HRSG adoption. Industrial demand also supports segment growth across the region.

Europe reached USD 2.41 Billion in 2025, representing 28% of the global market, driven by environmental regulations, modernization of existing capacity, and rising efficiency standards in power generation.

Europe - Major Dominant Countries in the Single Pressure HRSG Market

• Germany led the region with USD 0.79 Billion in 2025, holding a 33% share due to large-scale power plant modernization.
• France contributed USD 0.65 Billion in 2025, accounting for 27% share with growing investments in gas-fired energy generation.
• United Kingdom posted USD 0.52 Billion in 2025, holding 22% share as combined cycle projects expand in national grids.

Asia-Pacific

Asia-Pacific dominates the global market with a 42% share, driven by rapid industrialization and rising electricity demand. China, India, and Japan play key roles, with large-scale adoption of gas-fired combined cycle plants fueling HRSG deployments across the region. This strong demand is tied to both power and industrial applications.

Asia-Pacific accounted for USD 3.61 Billion in 2025, representing 42% of the global market, supported by infrastructure development, strong energy demand, and government-backed clean energy expansion.

Asia-Pacific - Major Dominant Countries in the Single Pressure HRSG Market

• China led the region with USD 1.45 Billion in 2025, capturing 40% share due to massive combined cycle plant installations.
• India recorded USD 1.02 Billion in 2025, accounting for 28% share as industrial and power generation capacities expand.
• Japan posted USD 0.72 Billion in 2025, holding a 20% share, driven by modernization of its thermal and industrial facilities.

Middle East & Africa

Middle East & Africa contributes 8% of the market, primarily supported by natural gas exploration and large-scale power plant developments. Countries like Saudi Arabia, UAE, and South Africa drive regional adoption, emphasizing efficient energy solutions for both industrial and power generation requirements.

Middle East & Africa held USD 0.69 Billion in 2025, representing 8% of the total market, driven by rising gas-fired power capacity and industrial development initiatives across the region.

Middle East & Africa - Major Dominant Countries in the Single Pressure HRSG Market

• Saudi Arabia led the region with USD 0.28 Billion in 2025, holding a 40% share, fueled by gas-based power investments.
• United Arab Emirates followed with USD 0.22 Billion in 2025, accounting for 32% share due to efficiency-focused industrial projects.
• South Africa posted USD 0.14 Billion in 2025, capturing 20% share, driven by modernization of its energy infrastructure.

List of Key Single Pressure HRSG Market Companies Profiled

Investment Analysis and Opportunities in Single Pressure HRSG Market

Investment activities in the Single Pressure HRSG Market are growing steadily, supported by infrastructure expansion and energy efficiency goals. Around 42% of new investments are directed toward Asia-Pacific, highlighting the rapid shift to gas-based generation. Europe captures 28% of the investment pool, with environmental mandates pushing for advanced HRSG adoption. North America accounts for 22% of investment flows, largely in modernization of existing power plants. Meanwhile, Middle East & Africa attract 8% of investment, driven by natural gas exploration and downstream projects. Over 55% of investors prioritize vertical HRSG systems for compact and efficient deployment, while nearly 45% channel funding into horizontal configurations designed for large-scale operations. Industrial applications account for 32% of global investments, showing consistent interest in energy-intensive sectors such as petrochemicals, oil & gas, and heavy industries. These trends reflect expanding opportunities for manufacturers and service providers who can deliver efficiency-focused, cost-effective solutions.

New Products Development

New product development in the Single Pressure HRSG Market emphasizes efficiency, emissions control, and compact design. Nearly 40% of companies are investing in low-NOx combustion technologies to meet stricter emission regulations. Around 36% of new product launches feature modular HRSG units, enabling faster installation and lower maintenance downtime. Digital monitoring and predictive maintenance solutions are embedded in nearly 30% of newly developed systems, ensuring better reliability and performance optimization. Manufacturers are also focusing on advanced heat recovery technology, with 28% of developments incorporating improved thermal transfer capabilities. These innovations not only improve efficiency but also align with industry’s sustainability and operational cost-saving objectives, making them increasingly attractive to power producers and industrial clients.

Recent Developments

• Mitsubishi: In 2024, Mitsubishi introduced advanced HRSG modules with improved thermal efficiency, adopted in over 20% of its new projects, aimed at lowering operational emissions significantly.
• Nooter Eriksen: Launched modular HRSG designs in 2024, which reduced installation time by nearly 25% and increased adoption in mid-scale combined cycle power plants.
• Doosan E&C: Expanded its portfolio in 2024 with compact single pressure HRSG units, capturing 15% of new industrial project demand across Asia-Pacific.
• Babcock & Wilcox: Rolled out digital twin integration in 2024, enabling predictive maintenance that cut operational downtimes by 18%, enhancing reliability for large-scale power utilities.
• CMI Energy: Introduced advanced low-emission HRSG solutions in 2024, resulting in a 22% reduction in nitrogen oxide levels across pilot plants in Europe.

Report Coverage

The report on the Single Pressure HRSG Market provides comprehensive coverage of global trends, segmentation, and opportunities. It highlights regional market contributions with Asia-Pacific leading at 42%, followed by Europe at 28%, North America at 22%, and Middle East & Africa at 8%. Segmentation analysis shows vertical systems holding 55% share, while horizontal designs capture 45%. On the application side, power stations dominate with 68% share, while industrial production contributes 32%. The report profiles 13 major companies, including Mitsubishi, Nooter Eriksen, Alstom Power, Doosan E&C, and Babcock & Wilcox. It examines drivers such as 65% growth in natural gas power adoption, opportunities with 58% combined cycle integration, and restraints tied to 52% of operators facing fuel price volatility. Challenges include 44% of plants reporting retrofitting difficulties. Investment analysis indicates 55% of funding directed toward vertical units, and new product development reveals 40% low-NOx technology adoption. The report also outlines five major developments in 2024, reflecting the industry’s commitment to efficiency and emission reduction. This coverage ensures stakeholders gain clear insights into market dynamics, competitive strategies, and growth opportunities.