Combined Heat and Power (CHP) Market 2020 Global Industry Trends, Statistics, Size, Share, Growth Factors, Emerging Technologies, Regional Analysis, Competitive Landscape Forecast to 2027

 Overview

 

The Combined Heat and Power (CHP) Market is anticipated to grow rapidly growing at a CAGR of 6.94% during the forecast period 2017 to 2023. The global combined heat and power (CHP) market is driven by increasing deployment of combined heat and power (CHP) technologies and positive indications from governments. These factors have helped shape the combined heat and power (CHP) market and are expected to boost the growth. Companies in the combined heat and power (CHP) market could also face challenges such as need for both hot water and electricity at production sites. The details covered in the combined heat and power (CHP) market report cover all the aspects of the industry. Analysts studying the combined heat and power (CHP) market have also shared growth projections in the report and have suggested combined heat and power (CHP) market players to plan business strategies accordingly.

 

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Market Segmentation

 

The global combined heat and power (CHP) market has been segmented based on fuel, technology, application, and type. On the basis of fuel, the market for combined heat and power (CHP) is segmented based on natural gas, coal, biomass and others. Additionally, the market on the basis of technology, is segmented into combined cycle, steam turbine, gas turbine and others. The global market for combined heat and power (CHP) is also covered based on the application segment which is further split into large scale and small scale. On the basis of type, the market for combined heat and power (CHP) is segmented based on residential, commercial and industrial. 

 

Factors like growing awareness about CHP as well as need for energy efficiency support the combined heat and power (CHP) market growth. The performance of the combined heat and power (CHP) market has also been studied for the past and current years. Additionally, the combined heat and power (CHP) market report provides analysis of these segments. The combined heat and power (CHP) market segmental analysis provided in the report offers major details about the combined heat and power (CHP) market based on the data and forecasts till 2023.

 

Combined Heat and Power Market - Geographical Analysis

Europe dominates the global combined heat and power market. The largest market share attributes to the easy availability of natural gas in the region, making CHP installation relatively easier and more cost-effective. Besides, government initiatives to control the rising clean and efficient energy systems concerns and substantial demand for heating solutions from residential and commercial setups drive market growth.

The European Union has implemented a country-level Energy Efficiency Directive to promote CHP projects and facilitate the demand response, and simplifying grid connection procedures for CHP installations. The European CHP market is projected to retain its dominance throughout the assessment period. 

Asia Pacific stands second in the global combined heat and power market. The market growth is driven by the increasing demand and sales of CHP systems. Additionally, vast productions and widening adoption of CHP technology in residential, commercial, and industrial applications boost the regional market growth. The APAC CHP market is expected to create a substantial revenue pocket during the review period. 

Combined Heat and Power Market   - Competitive Analysis 

Highly competitive, the CHP market appears fragmented due to the presence of many well-established players. To gain a larger competitive share, these players incorporate strategic approaches such as mergers & acquisitions, collaboration, expansion, and product/technology launch. 

They make substantial investments to drive R&D activities and expansion plans. The market is projected to witness relentless innovations and new products, eventually intensifying competition among manufacturers.

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Major Players: 

Players leading the global CHP market include Caterpillar Inc.(US), MAN Diesel & Turbo SE (Germany), Mitsubishi Heavy Industries Ltd.(Japan), Cummins(US), General Electric (US), Bosch Thermotechnology Ltd.(UK), ENER-G Rudox (US), ABB Limited (Switzerland ), and Veolia (France ), among others. 

Industry/ Innovation/Related News: 

Mar 04, 2021 ---- United Safety and Survivability Corporation (the US), a leading provider of next-generation safety solutions, announced a partnership with Core States Group to help grow electric charging stations in mass transit. The partnership would bring Core States' zero-emission vehicle infrastructures to United Safety's customer base, providing transit authorities with easier access and implementation of electric charging stations across North America.

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