DUBLIN--(BUSINESS WIRE)--The "Global Combined Heat and Power (CHP) Market - Forecasts from 2020 to 2025" report has been added to ResearchAndMarkets.com's offering.
The combined heat and power (CHP) market is evaluated at US$12.152 billion for the year 2019 growing at a CAGR of 14.37% reaching the market size of US$27.196 billion by the year 2025.
Combined heat and power refers to an energy-efficient system that generates electricity from several types of fuels and has the ability to capture the heat that is generated and can be reused for space heating, domestic hot water, and industrial processes among others. These systems can be installed at several places such as buildings, utilities, and individual facilities, and others. Combined heat and power systems are often considered useful especially for those facilities that have the requirement of electricity and heat both.
The market for combined heat and power systems is primarily being driven by the constantly growing end-user requirements for the replacement of conventional energy systems due to considerably high operational as well as maintenance costs and also due to uninterrupted utility supply. Furthermore, the constantly growing usage of natural gas also acts as a catalyst for the combined heat and power systems market growth during the forecast period. Additionally, the growing demand for energy efficiency especially across the industrial sector has further propelled the adoption of these systems in the coming years, which in turn is playing a significant role in shaping up the market growth during the next five years. The beneficial features such as enhanced reliability, efficiency, and safety offered by these cogeneration systems have also led to an upsurge in the adoption across several countries.
Also, there are many countries in both developed and underdeveloped economies of the world that are now inclining their focus on the reduction of greenhouse gas emissions which has further led to an increased spending in renewable energy projects which in turn is anticipated to propel the business growth opportunities for the manufacturers over the course of the next five years.
According to the United States Environmental Protection Agency, approximately two-thirds of the energy that is primarily used by conventional energy systems is often wasted as discharged heat to the atmosphere. During the electricity distribution process, a significant amount of energy is also wasted in the form of heat. Thus, these systems are considered as highly beneficial as they are able to capture the heat and help in distribution losses. These systems are able to improve efficiency by almost 80% which is around 30% higher than the conventional technologies used.
Companies Mentioned
- Kawasaki Heavy Industries, Ltd.
- General Electric
- Caterpillar
- MITSUBISHI HEAVY INDUSTRIES, LTD.
- Siemens Energy
- Cummins Inc.
- Robert Bosch GmbH
- MAN Energy Solutions
- Centrica
- Wartsila
- Aegis Energy, EDF Group
- Veolia
- 2G Energy AG
Key Topics Covered:
1. Introduction
2. Research Methodology
3. Executive Summary
4. Market Dynamics
4.1. Market Drivers
4.2. Market Restraints
4.3. Porters Five Forces Analysis
4.3.1. Bargaining Power of Suppliers
4.3.2. Bargaining Power of Buyers
4.3.3. Threat of New Entrants
4.3.4. Threat of Substitutes
4.3.5. Competitive Rivalry in the Industry
4.4. Industry Value Chain Analysis
5. Combined Heat and Power (CHP) Market Analysis, by Fuel Type
5.1. Introduction
5.2. Coal
5.3. Natural Gas
5.4. Biomass
5.5. Others
6. Combined Heat and Power (CHP) Market Analysis, by Application
6.1. Introduction
6.2. Commercial
6.3. Residential
6.4. Industrial
7. Combined Heat and Power (CHP) Market Analysis, by Configuration
7.1. Introduction
7.2. Combustion Turbine
7.3. Steam Boiler
8. Combined Heat and Power (CHP) Market Analysis, by Geography
8.1. Introduction
8.2. North America
8.3. South America
8.4. Europe
8.5. Middle East and Africa
8.6. Asia Pacific
9. Competitive Environment and Analysis
9.1. Major Players and Strategy Analysis
9.2. Emerging Players and Market Lucrativeness
9.3. Mergers, Acquisitions, Agreements, and Collaborations
9.4. Vendor Competitiveness Matrix
10. Company Profiles
For more information about this report visit https://www.researchandmarkets.com/r/66svnl
