(MENAFN- GetNews) Global Combined Heat and Power (CHP) Market Information Report By Fuel (Natural Gas, Coal, Biomass and Others), By Technology, (Combined Cycle, Steam Turbine, Gas Turbine and Others), By Type (Large Scale and Small Scale), By Application (Residential, Commercial and Industrial) and By Regions - Global Forecast to 2023.
The combined heat and power market is expected to grow over the CAGR of around 6.94 % during the period 2017 to 2023. Combined heat and power plants are typically embedded close to the end user and helps to reduce transportation and distribution losses, improving the overall performance of the electricity transmission and distribution network. It also acts as energy multiplier, helping to cut carbon emissions, increase power reliability and save money. This technology is widely available, with further opportunities for development and enhancement. Furthermore, only suitable where there is a need for both electricity and hot water on site which acts as a barrier for the growth of the market.
Combined heat and power plants are typically embedded close to the end user and helps to reduce transportation and distribution losses, improving the overall performance of the electricity transmission and distribution network. It also acts as energy multiplier, helping to cut carbon emissions, increase power reliability and save money. This technology is widely available, with further opportunities for development and enhancement. Furthermore, only suitable where there is a need for both electricity and hot water on site which acts as a barrier for the growth of the market. Presence of a large number of companies offering diverse products and services related to CHP installations is fueling competition in the global CHP installation market.
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Industry Leaders
The key players of global combined heat and power (CHP) market are MAN Diesel & Turbo SE (Germany), Caterpillar Inc.(U.S.), Mitsubishi heavy Industries ltd.(Japan), General Electric (U.S.), Cummins(U.S.), Bosch Thermotechnology Ltd.( U.K),ABB Limited(Switzerland ), ENER-G Rudox (U.S.), Veolia (France )and others.
Industry Segmentation
The global combined heat and power (CHP) market are segmented on the basis of fuel, technology, type, end user and region.
ByFuel
- Natural Gas
- Coal
- Biomass
- Others
ByTechnology
- Combined Cycle
- Steam Turbine
- Gas Turbine
- Others
By Type
By End User
- Residential
- Commercial
- Industrial
By Regions
- North America
- Asia Pacific
- Europe
- Rest of the World
Regional Analysis
Europe accounts for one of the largest installed bases of cogeneration power plants in the world and continue to dominate the market of combined heat and power (CHP). The easy availability of natural gas in Europe makes installation relatively easier and more cost-effective.
The region is a global leader 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. Moreover, high demand for small-scale CHPs in Japan, coupled with their increasing installation across diverse industries, has been boosting demand for the CHP installation in the region.
The Japanese government provides subsidies for the development of this green technology. The demand for small scale CHP systems for residential as well as commercial purposes has led to the region's dominance in the market. Increasing installation of CHP systems in developing nations such as India, South Korea and China will keep the demand for large-scale CHP systems high during the forecast period.
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