Combined Heat And Power Market Analysis - Global Industry Size, Share, Trends and Forecast, 2018 - 2026

Category : Energy and Power | Delivery Format : PDF | Status: Forthcoming | Report ID : ARC645

Introduction

Combined heat power also referred as CHP or cogeneration, is a method of generating heat and power with the help of burning fuels such as natural gases, oil and bio fuels in a single and highly efficient process. The market for CHP has witnessed significant growth due to rising demand from various applications such as district heating, cooking, petroleum refining and paper among others. The major factors driving the growth of market include rise in demand for electrical power and increase in stringent government regulations across end-use industries, globally.

Market Dynamics

The increase in use of sustainable energy, growing demand for captive power generation as well as increase in technological investments by leading players has led to the growth of CHP market globally. The low operating costs, reducing dependency on conventional coal fired plants, increase in demand for clean energy, and stringent energy norms are expected to change the dynamics of market in near future. The major challenges include lack of grid infrastructure, and fluctuating energy prices.

Market Classification and Overview

The CHP market is bifurcated on the basis of fuel type, capacity, technology, application, end use industry, and geography. The different types of fuels used in CHP include natural gases, coal, and bio-fuels among others. Natural gas is the largest market for CHP as it caters to almost every type of application. Biomass is the fastest growing market owing to the increasing government initiatives to promote renewable heat and increase in consumer awareness towards waste management globally. In terms of technology, reciprocating engine is the fastest growing type of CHP technology used across end-use industries owing to its ability to seal gap cylinder and piston, high compression ratio, low fuel consumption, and high heat efficiency. Based on capacity, CHP systems with above 5MW capacities is the fastest growing CHP system owing to the increase in need of expansion and upgradation of existing conventional plants to boost the demand for large capacity CHP systems. Based on end-use industries, industrial sector is the largest market for CHP, while commercial is projected to be the fastest growing end-use industry for CHP. The increase in demand for reliable and cost effective technologies to decrease carbon footprint will boost the market for CHP in commercial sector.

Regional Overview

The market for CHP is segmented into regions such as North America, Europe, Asia-Pacific, Latin America, and Middle-East and Africa (MEA). North America was the major contributors to the growth of CHP market in 2015. Europe was the second biggest market followed by Asia-Pacific. The market for CHP in Asia-Pacific is further projected to witness highest growth in coming years owing to increase in demand for clean fuel energy coupled with rapid industrialization and urbanization in the region.

Report Coverage

Market

Combined Heat And Power Market

Analysis Period

2015 – 2026

Historic Data

2015 – 2016

Base Year

2017

Forecast Data

2018 – 2026

Market Stratification

Fuel type, Capacity, Technology, Application, End-Use Industry, Geography

Regional Scope

North America, Europe, Asia-Pacific, Latin America, Middle East and Africa (MEA)

Report Coverage

Market Trends, Drivers, Restraints, Porter's Five Forces Analysis, Competitive Analysis,

Player Profiling, Value Chain Analysis

Market Participants

MAN Diesel & Turbo, Caterpillar, General Electric, Mitsubishi, Kawasaki, Bosch Thermotechnology, ENER-G Rudox Inc., Viessmann Werke, Veolia, Siemens, and Cummins are the key players in the combined heat and power market. These players involved have adopted the strategies including mergers and acquisitions with local as well as established players.

Market Segmentation

Market By Fuel type

  • Natural Gas
  • Coal
  • Biomass
  • Others

Market By Capacity

  • 1kW – 0.5 MW
  • 0.5MW – 5MW
  • Above 5MW

Market By Technology

  • Combined Cycle
  • Steam Turbine
  • Gas Turbine
  • Reciprocating Engine

Market By Application

  • Space Heating/Cooling
  • Cooking
  • Primary Metals
  • Paper
  • Food
  • Petroleum Refining
  • Government/Military
  • Primary Metals
  • Education Institutions
  • Others

Market By End-use industry

  • Residential
  • Commercial
  • Industrial
  • Others

Market By Geography

  • North America
    • US
    • Canada
    • Mexico
  • Europe
    • UK
    • Germany
    • Russia
    • France
    • Rest of Europe
  • Asia-Pacific
    • China
    • Japan
    • India
    • South Korea
    • Rest of Asia-Pacific
  • Latin America
    • Brazil
    • Rest of Latin America
  • Middle East and Africa (MEA)
    • South Africa
    • Saudi Arabia
    • Rest of MEA

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