The Infinium Global Research analyzes the Combined Heat Power Market over the period of 2019 to 2025. This report also provides detailed qualitative and quantitative analyses of the market dynamics, market size and future trends in global combined heat power market. It will help a lot of decision makers to develop strategies and find new opportunities in the global markets of combined heat power. The report covers market changing aspects including drivers, restraints, opportunities, and trends expected to encouragement the expansion of the combined heat power market during the period. The global combined heat power market is projected to grow at a CAGR of 5.2% over the forecast period of 2019-2025.
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Rising use of natural gas for power generation and adoption of renewable technologies for maintaining clean energy supply primary growth factors of the combined heat power (CHP) market. CHP is utilized in various industrial facilities and commercial buildings with equivalent power and thermal loads. The demand for CHP is increasing due to lower energy operating costs, CHP-friendly environmental regulations, and resiliency initiatives. However, the high initial investment cost hampers market growth. Growing application scope in residential and commercial sectors is estimated to provide opportunities for industry participant’s growth over the forecast period.
Segments in the Combined Heat Power Market
The global combined heat power market is segmented on the basis of product, technology, fuel, and application. On the basis of the product, the market is segmented into large scale and small & micro scale. The large-scale segment holds a large market share owing to major application in industrial and commercial sectors. Based on technology, the sub-markets include gas turbine, steam turbine, micro CHP, fuel cells, and spark ignition reciprocating engine. Based on fuel, the market is segmented into natural gas, coal, biomass, and other fuels. Natural gas and coal segments hold a large market share due to their cheaper rates as compared to other fuels. By application, the market is categorized into industries and residential. The industries segment holds a large market share owing to the wide use of CHP in industries such as petrochemicals and pharmaceuticals.
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Europe Holds the Largest Market Share of the Global Combined Heat Power Market
Among the regions, Europe holds the largest market share of the global combined heat power market followed by Asia-Pacific. The stringent environmental regulation to control pollution levels is driving the growth of the market in the Europe region. The government in some of the APAC countries are supporting CHP installations through policies and R&D initiatives that drive the market growth in this region.
Key Players of the Combined Heat Power Industry
Some of the industry participants of the global combined heat power market are Aegis Energy Services Inc., Bosch Thermotechnology Ltd, Caterpillar Inc., ENER-G Rudox, FuelCell Energy Inc., General Electric Company, Kawasaki Heavy Industries Ltd, MAN Diesel & Turbo (MAN SE), Mitsubishi Heavy Industries Ltd, and Siemens AG among the others.
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Reasons to Buy this Report:
- Comprehensive analysis of global as well as regional markets of the Combined Heat Power.
- Complete coverage of all the product type and applications segments to analyze the trends, developments, and forecast of market size up to 2025.
- Comprehensive analysis of the companies operating in this market. The company profile includes analysis of product portfolio, revenue, SWOT analysis and the latest developments of the company.
- Infinium Global Research- Growth Matrix presents an analysis of the product segments and geographies that market players should focus to invest, consolidate, expand and/or diversify.