The North America CHP market is projected to record a substantial growth rate over the coming years due to the rising investments across the renewable infrastructure along with strict government mandates towards curbing GHG emissions. Combined heat and power or cogeneration is a technology that generates electric power and thermal energy from a single fuel source.

North America CHP market is segmented in terms of capacity, fuel, technology, end-use, and regional landscape.

Based on capacity, the North America CHP market is classified into > 20 MW and 5 MW - 20 MW. Among these, > 20 MW segment will witness growth owing to the rapidly increasing power demand across the high-end commercial sector coupled with paradigm shift toward renewable energy generation.

With respect to fuel, the North America CHP market is categorized into biomass, coal, and natural gas. Among these, coal fuel segment is slated to register tremendous gains over the coming years. Increasing energy demand along with rising decentralized electricity networks will thrust the coal-based CHP demand. Favorable government norms toward adoption of low carbon emission fuel will drive the demand for biomass fuel segment.

Based on technology, the North America CHP market is bifurcated in terms of reciprocating engine, gas turbine, steam turbine, and combined cycle. In comparison to reciprocating engines, steam turbine technology segment is anticipated to register momentous growth owing to the higher thermal efficiency, high power to weight ratio, and fewer moving parts in steam turbines.

In terms of end-use, the North America CHP market is segmented in terms of commercial and industrial. The commercial segment is further classified into utility, government/military, office building, district electricity, and educational institution. Rising smart infrastructure investments along with growing customer inclination toward cogeneration units will propel the business scenario across educational institution. The district energy segment is slated to witness remunerative growth over the coming years. Increasing demand for district heating networks across the colder regions will fuel the demand for CHP systems.

Ongoing integration of advanced technologies coupled with rising infrastructure development will fuel the product demand across office buildings. Government/military CHP market is estimated to exceed a valuation of approximately $20 million by the end of the analysis timeline. In 2019, utility CHP market was valued at over $200 million and will showcase similar growth trends in the coming years.

The industrial segment is further categorized into primary metals, paper, food, petroleum refining, and chemical. Ability of CHP systems to provide combined electrical and thermal energy will accelerate the product adoption across the chemical industry. This will in turn drive the segmental growth.

Petroleum refining segment will witness substantial growth owing to the increasing energy demand across the oil & gas sector, which is propelling the demand for cogeneration units. Food CHP market is estimated to exceed a valuation of approximately $30 million by the end of the analysis timeframe.

The paper CHP market in 2019, valued over $115 million and will continue to register similar growth trends. Primary metals segment is anticipated to witness momentous growth over the coming years. Increasing peak load demand and aging power generation equipment will shift the focus of top manufacturers toward the deployment of technologically advanced product for better energy distribution.

From a regional frame of reference, stringent government norms to curb GHG emission across the U.S along with rising investments throughout the renewable infrastructure will augment the business outlook in the region.