According to Stratistics MRC, the Global Combined Heat & Power Market is accounted for $639.65 billion in 2017 and expected to grow at a CAGR of 5.0% to reach $996.38 billion by 2026. Growing command for energy efficiency in industries, governments programs & incentives for promotion and increase in the usage of natural gas to generate power are some of the factors driving the market growth. On the other hand, the high maintenance & installation costs incurred are hampering the market.
Combined heat and power (CHP) is an efficient and clean method in generating electric power and useful thermal energy from a single fuel source. It depicts a series of reliable and cost-effective technologies which makes a significant contribution for meeting global heat and electricity demand. It is a clean energy solution that directly addresses a number of national priorities, including improving U.S. competitiveness by reducing energy operating costs, greenhouse gas emissions and increasing energy efficiency.
By type, Micro combined heat power generation is one of the version of CHP methods in generation of heat and electricity simultaneously. The benefits of micro CHP systems include the easy and efficient product of heat and electricity. Moreover electricity can be generated as the byproduct of heat generation. Requirement for low carbon emission technologies and use of waste resources are boosting the micro combined heat and power market. Adoption of micro CHP systems is increasing with growing fuel poverty, reduced carbon emissions, climatic changes and energy security.
By end user, Industrial sector is growing predominantly. The combined heat & power systems are widely used in industries such as petrochemicals and pharmaceuticals. Industrial CHP systems generate electricity and also capture heat that is otherwise treated as waste. Industrial systems also have benefited by having this system setup of generating thermal energy which can be used as utility for heating or it can be converted to electricity. This thermal energy can also be converted to cooling when it is connected to an adsorption chiller and thus taking advantage of low-cost fuels.
Based on geography, Europe has the easy availability of natural gas and makes installation relatively easier & more cost-effective. This region is one of the global leaders in micro-CHP engine with innovation and manufacturing centers in Germany, the Netherlands and the U.K. This has been spurring the demand for CHP installations in countries such as Belgium, Germany, Italy, and the Netherlands.
Some of the key players in the Combined Heat & Power Market include ABB Ltd, Aegis Energy Services Inc., Bosch Thermotechnology Ltd, Caterpillar Inc., ENER-G Rudox, FuelCell Energy Inc., General Electric Company, Kawasaki Heavy Industries Ltd, MAN Diesel & Turbo (MAN SE), Mitsubishi Heavy Industries Ltd, Siemens AG, Viessmann Werke GmbH & Co. KG, Wartsila Oyj Abp and Fuelcell Energy.
- Micro and Small-scale
- Natural Gas
- Other Fuels
- Steam Turbine
- Reciprocating Engine
- Gas Turbine
- Combined Cycle
- Other Technologies
- Above 300 MW
- 151–300 MW
- 10–150 MW
- Up to 10 MW
End Users Covered:
- Utilities, District Heating and Cooling
- North America
- ·Rest of Europe
- Asia Pacific
- ·New Zealand
- ·South Korea
- ·Rest of Asia Pacific
- South America
- ·Rest of South America
- Middle East & Africa
- ·Saudi Arabia
- ·South Africa
- ·Rest of Middle East & Africa
What our report offers:
- Market share assessments for the regional and country level segments
- Market share analysis of the top industry players
- Strategic recommendations for the new entrants
- Market forecasts for a minimum of 9 years of all the mentioned segments, sub segments and the regional markets
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements