Once Through Steam Generators (OTSGs) Market is supposed to grow with CAGR of around 4% during 2019-2026

Once Through Steam Generators (OTSGs) are a specialized type of Heat Recovery Steam Generators (HRSGs) barring for the actual process of generation of steam in their evaporator unit. It offers a high degree of flexibility as the sections are permitted to grow or contract based on the heat load expected from the gas turbine. The global OTSGs market is anticipated to grow at a CAGR of around 4% during the forecast period 2019-2026. The major driving factors in the market are growing adoption of CHP and Ccpps, rising global electricity demand and demand for enhanced energy efficiency in power plants. In addition, initiatives to reduce global greenhouse gas emissions and investments in CHP and Ccpp plants are acting as major growth opportunities for the global market.

A significant factor driving the growth of the market is the demand for enhanced energy efficiency in power plants. Energy efficiency is one of the important factors that is expected to lead to a reduction in the usage of coal and is anticipated to drive the demand for the other sources such as thermal and nuclear energy to meet the power generation capacity. Higher energy efficiencies can be achieved by producing higher outputs with the same resources and prevent any additional emissions for power generation. Furthermore, the once through steam generator has the advantages of quick steam generation, small area occupancy, high thermal efficiency, and energy saving.

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Based on segmentation, the global market is segmented into type and application. The type segment is further segmented into 0-60 MW, 60-100 MW and 100 MW & above. Application segment is segmented into Co-generation (Process Heating), Combined Cycle and Combined Heat & Power (CHP).

Based on geography, the global OTSG market is segmented into North America, Europe, Asia pacific and ROW. Europe is expected to have the largest share in the market over the period of 2019-2026. This dominance in the market is attributed due to presence of highest number of CHP plants in this region. Moreover, Asia Pacific is anticipated to be the fastest growing region during the forecast period 2019-2026. The major factors boosting the growth in the region are industrialization, urbanization and fast economic growth demands. Enormous requirements for electric power in numerous countries such as India, China and others in the Asia-Pacific demands development of novel power plants, particularly gas-fired ones which would thus, upsurge the demand for Once Through Steam Generators.

Some of the major players of the market are Nooter Eriksen (United States), Wuxi Huaguang (China), Alstom Power (France), CMI Energy(United States), Doosan E&C (South Korea), NEM Energy (Netherlands), VOGT Power(United States), Mitsubishi(Japan), Babcock & Wilcox (United States), Foster Wheeler (United Kingdom), and others.

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