Combined Heat And Power (CHP) Market (By Capacity: Up to 10 MW, 10 MW to 150 MW, 150 MW to 300 MW, Above 300 MW; By Fuel: Natural Gas, Coal, Biomass, Others; By Technology: Gas Turbine, Steam Turbine, Reciprocating Engine, Fuel Cell, Microturbine; By End Use: Residential, Commercial, Industrial) – Global Industry Analysis, Market Size, Opportunities and Forecast, 2020 - 2027

Category : Energy and Power | Delivery Format : PDF | Status: Published | Pages : 190

The global combined heat and power (CHP) market is anticipated to grow at a CAGR of around 5.6% during the forecast period 2020 to 2027 and to reach around US$ 32.8 Bn by 2027.

Market Dynamics

Rapid industrialization in developed and developing countries, increasing manufacturing process and production units in order to cater the ongoing demand for products, high government spending on development of present infrastructure related to electricity generation are some major factors expected to drive the growth of the global market. There is high cost associated to electricity generation and the government is focused on development alternate source of electricity generation. The combined heat and power (CHP) tend to be a better solution for electricity generation due to energy efficiency.

Various advantages associated to combined heat and power such as high reliability, economical and environment friendly this is another factor resulting in inclination toward adoption of combined heat and power further supporting the growth of target market. CHP reduces emission of greenhouse gases and other pollution. Natural Gas, Biogas/Biomass, etc. are some major fuel used for energy generation as during the process less fuel is burned and distribution losses are avoided.

In addition, collaborative work between public and private players is another factor expected to impact the growth of target market positively.

  • In 2018, Hong Kong & China Gas Company jointly with the hospital initiated a project for development of CHP electricity generation. The project was focused on using landfill gas from the North East New Territories (NENT) landfill as fuel in order to generate electricity as well as steam and hot water for various hospital systems and facilities. The Hong Kong & China Gas Company constructed a 19 km, 400mm diameter pipeline from NENT landfill site with a 600-metre branch pipeline to supply methane the CHP plant.

However, factors such as high initial investment and cost associated to products related to electricity generation are expected to hamper the growth of target market. In addition, inclination towards renewable power generation is expected to challenge the growth of target market.

Technological advancements by the major players, high investment for product development and introduction of cost effective products are factors responsible to create new opportunities for players over the forecast period. In addition, business development activities through strategic merger and acquisitions are expected to further support the revenue traction of target market.

  • In 2019, Clarke Energy acquired Co-Energy America a Boston-based combined heat and power (CHP) solutions provider specializing in the design, manufacture, installation and maintenance of gas engine CHP systems. This acquisition is expected to help the company in packaging and assembly capability for the US market.

Combined Heat And Power (CHP) Market Segment Analysis, 2019

The global combined heat and power (CHP) market is segmented into capacity, fuel, technology, and end use. The capacity segment is further bifurcated into Up to 10 MW, 10 MW to 150 MW, 150 MW to 300 MW, and above 300 MW. Among end use the industrial segment is expected to account for significant revenue share in the global market.

Segment Analysis by Region

The market in North America is expected to account for major revenue share owing to high government spending on development of CHP infrastructure. In addition, presence of players operating in country, coupled with innovative product offerings is expected to further support the growth of target market in this region.

Asia Pacific is expected to witness faster growth in the near future owing to rapid industrialization in developing countries. In addition, inclination towards untapped market in the emerging economies is expected to impact the target market growth positively.

Competitive Landscape

Presence of large number of players operating on regional and international level is increasing the competition. In addition, business development activities and new product offerings are factors further augmenting the market competition.

Report coverage

Market

 Global Combined Heat And Power (CHP) Market

Analysis Period

2016 – 2027

Base Year

2019

Forecast Data

2020 – 2027

Market Stratification

Capacity, Fuel, Technology, and End Use and Geography

Regional Scope

North America, Europe, Asia Pacific, Latin America, and Middle East & Africa

Report Coverage

Market Trends, Drivers, Restraints, Competitive Analysis, Player Profiling, Regulation Analysis

 

The market research study on “Combined Heat And Power (CHP) Market (Capacity: Up to 10 MW, 10 MW to 150 MW, 150 MW to 300 MW, and Above 300 MW; Fuel: Natural Gas, Coal, Biomass, and Others; Technology: Gas Turbine, Steam Turbine, Reciprocating Engine, Fuel Cell, and Microturbine; End Use: Residential, Commercial, and Industrial) – Global Industry Analysis, Market Size, Opportunities and Forecast, 2019 - 2026”, offers a detailed insights on the global combined heat and power (CHP) market entailing insights on its different market segments. Market dynamics with drivers, restraints and opportunities with their impact are provided in the report. The report provides insights on global combined heat and power (CHP) market capacity, fuel, technology, and end use and major geographic regions. The report covers basic development policies and layouts of technology development processes. Secondly, the report covers global combined heat and power (CHP) market size and segment markets by capacity, fuel, technology, and end use and geography along with the information on companies operating in the market. The combined heat and power (CHP) market analysis is provided for major regional market including North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. For each region, the market size for different segments has been covered under the scope of report. The players profiled in the report Mitsubishi Hitachi Power Systems, GE, Siemens, Veolia, Wartsila, 2G Energy, Man Diesel & Turbo, Clarke Energy, Caterpillar Energy Solutions (MWM), AB Holding, FuelCell Energy, and Capstone.

Market Segmentation

Market By Capacity

  • Up to 10 MW
  • 10 MW to 150 MW
  • 150 MW to 300 MW
  • Above 300 MW

Market By Fuel

  • Natural Gas
  • Coal
  • Biomass
  • Others

Market By Technology

  • Gas Turbine
  • Steam Turbine
  • Reciprocating Engine
  • Fuel Cell
  • Microturbine

Market By End Use

  • Residential
  • Commercial
  • Industrial

Market By Region

North America

  • US
  • Canada

Europe

  • UK
  • Germany
  • France
  • Spain
  • Rest of Europe

Asia Pacific

  • China
  • Japan
  • India
  • Australia
  • South Korea
  • Rest of Asia Pacific

Latin America

  • Brazil
  • Mexico
  • Rest if Latin America

Middle East & Africa

  • GCC
  • South Africa
  • Rest of Meddle East & Africa


Frequently Asked Questions

Rapid industrialization in developed and developing countries, increasing manufacturing process, high government spending on development of present infrastructure related to electricity generation are some major factors expected to drive the growth of the global market.

According to Acumen Research and Consulting, the global combined heat and power (CHP) market size is expected to reach around US$ 32.8 Bn by 2027.

Global combined heat and power (CHP) market is anticipated to grow at a CAGR of 5.6% during forecast period 2020 to 2027.

By end use the industrial segment is expected to account for significant revenue share in the global market.

The market in North America is expected to account for major revenue share owing to high government spending on development of CHP infrastructure.

Asia Pacific is expected to witness faster growth in the near future owing to rapid industrialization in developing countries.

The players profiled in the report Mitsubishi Hitachi Power Systems, GE, Siemens, Veolia, Wartsila, 2G Energy, Man Diesel & Turbo, Clarke Energy, Caterpillar Energy Solutions (MWM), AB Holding, FuelCell Energy, and Capstone.

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