Business Wire.- The «Combined Heat & Power (CHP) Market – Global Industry Analysis (2018 – 2020) – Growth Trends and Market Forecast (2021 – 2026)» report has been added to ResearchAndMarkets.com’s offering.
According to the publisher, the global CHP market is estimated to be worth US$26.9 Bn in 2026 from US$19.1 Bn in 2020. Analysts estimate that the market will register a CAGR of 6.2% between the forecast years of 2020 and 2026.
During these years, the market is expected to add a total of 181 GW capacity.
Companies Mentioned
- Siemens AG
- Veolia
- 2G Energy AG
- GE
- Cummins Inc.
- Tecogen Inc.
- MAN Energy Solutions SE
- Clarke Energy
- Generac Power Systems, Inc
- Capstone Green Energy Corporation
- Wartsila
Key Highlights in Global Combined Heat Power Market are:
- Currently, natural gas-fuelled CHP dominates the market. However, the overall market share of biomass-fuel based CHP systems is expected to witness higher growth in the coming years.
- Government policies and latest technologies are designed to improve efficiency and adhere to the emission control standards to offer reliable operations in long term.
- The CHP installation market is characterized by new product developments, improvements, and acquisitions of smaller players by global conglomerates.
- In terms of CHP installations, Europe is the world leader. In 2020, Europe accounted for the major share of the global market. As of now, CHP systems generate 11% of electricity in Europe and 15% of the heat for various industrial applications. As per the carbon-neutral targets, the share of electricity generation through CHP is expected to reach 20% followed by heat generation at 25% by 2030.
- The current pandemic is impacting clean energy sectors across the country, including the CHP industry. CHP market was hampered due to the unavailability of equipment/components. High dependency on Chinese equipment/components resulted in delays in procurement owing to trade restrictions with China.
Natural Gas Emerges as Popular CHP Solution in Global Market
The demand for natural-gas fuelled CHP solutions is expected to lead the market as it is an affordable form of fuel. Its lower environmental impact is also expected to drive the segment’s growth in the coming years. Its easy availability has also contributed to its growth. In many ways, natural gas is a better option than coal as it requires lower investments, is available for longer periods, and offers higher flexibility for CHP plants. The U.S., Russia, and China are predominantly using natural gas as fuel for CHP plants. As more and more countries emulate this model, chances are that natural gas will continue its dominance.
Europe Leads Cold Weather Demands Reimagined Heating Solutions
Europe is a clear leader in the global combined heat and power market as the harsh winters across UK and Finland are likely to create a surge in cogeneration equipment. During the forecast period, this equipment will also serve the electrical and thermal applications. For instance, in August 2020, the Romanian-Kazakh Energy Investment Fund and Turkey’s Calik Enerji signed a US$148 million engineering, procurement and construction contract for a cogeneration plant that will be commissioned in the first half of 2023.
Meanwhile, Asia Pacific combined heat and power market is also anticipated to make great strides as industrial activities and government support for infrastructural development gains momentum.
Key Topics Covered:
1. Executive Summary
2. Market Overview
2.1. Market Definitions and Segmentations
2.2. Market Dynamics
2.2.1. Drivers
2.2.2. Restraints
2.2.3. Market Opportunities
2.2.4. Micro and Macro Factors
2.3. Value Chain Analysis
2.4. Porter’s Five Forces Analysis and PEST Analysis
2.5. Covid-19 Impact
2.5.1. Supply Chain
2.5.2. Raw Materials Impact Analysis
2.5.3. Combined Heat & Power (CHP) Facility: Cost Structure Analysis
3. Price Trends Analysis and Future Projects, 2018 – 2026
3.1. Key Highlights
3.2. by Fuel/by Technology
3.3. By Region
4. Global Combined Heat & Power (CHP) Market Outlook, 2018 – 2026
5. North America Combined Heat & Power (CHP) Market Outlook, 2018 – 2026
6. Europe Combined Heat & Power (CHP) Market Outlook, 2018 – 2026
7. Asia Pacific Combined Heat & Power (CHP) Market Outlook, 2018 – 2026
8. Rest of the World (RoW) Combined Heat & Power (CHP) Market Outlook, 2018 – 2026
9. Competitive Landscape
9.1. Company Market Share Analysis, 2020
9.2. Strategic Collaborations
9.3. Company Profiles
10. Appendix
For more information about this report visit https://www.researchandmarkets.com/r/a59x7o