LONDON--(BUSINESS WIRE)--Technavio has been monitoring the global combined heat and power (CHP) market and the market is poised to grow by 124.76 GW during 2019-2023 at a CAGR of close to 3% during the forecast period. Request Free Sample Pages
Read the 124-page research report with TOC on "Combined Heat and Power (CHP) Market Analysis Report by Fuel (Coal, Natural gas, and Others), by Geography (Americas, APAC, and EMEA), and Segment Forecasts, 2019 - 2023".
The market is driven by the economic and environmental benefits of CHP. In addition, the growing need for clean energy fuel is anticipated to further boost the growth of the combined heat and power (CHP) market.
CHP is an energy-efficient technology as it captures heat that would otherwise be wasted. It is preferred over conventional electricity generation method since it consumes a lesser amount of fuel to produce energy. In addition, CHP systems avoid transmission and distribution (T&D) losses, ease grid congestion during high demand for electricity and eliminate the need for the development of T&D infrastructure. Thus, the power-generating facilities of CHP along with significant economic and environmental benefits are expected to drive market growth during the forecast period.
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Major Five Combined Heat and Power (CHP) Market Companies:
GENERAL ELECTRIC is headquartered in the US and operates the business under various segments such as Power, Renewable Energy, Oil & Gas, Aviation, Healthcare, Transportation, Lighting, and Capital. The company offers CHP systems and designs and develops cogeneration engineering and equipment.
MAN SE is headquartered in Germany and offers products through the following business units: MAN Truck & Bus, MAN Latin America, MAN Diesel & Turbo, Renk, and Corporate Center. The company offers CHP plant and engine-based CHP to various end-users.
MITSUBISHI HEAVY INDUSTRIES, LTD.
MITSUBISHI HEAVY INDUSTRIES, LTD. is headquartered in Japan and operates under various business segments, namely Power Systems, Industry & Infrastructure, Aircraft, Defense & Space, and Others/Eliminations or Corporate. The company offers gas engine plants with enhanced power thermal efficiencies.
Siemens is headquartered in Germany and offers products through the following business segments: Power and Gas, Energy Management, Building Technologies, Mobility, Digital Factory, Process Industries and Drive, Siemens Healthineers, Siemens Gamesa Renewable Energy, and Financial Services.
Wärtsilä is headquartered in Finland and offers products through the following business segments: Services, Energy Solutions, and Marine Solutions. The company constructs CHP plants for district heating and steam generation and other applications.
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Combined Heat and Power (CHP) Fuel Outlook (Revenue, USD Million, 2019 - 2023)
- Natural gas
Combined Heat and Power (CHP) Regional Outlook (Revenue, USD Million, 2019 - 2023)
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