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    Combined Heat And Power Market Report

    Combined Heat And Power Market Report
    Report code - SR2015 Delivery - 2 Weeks
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    Combined Heat and Power Market Size, Share, Trend, Forecast, Competitive Analysis, and Gro See more...

    Market Insights

    The process of generating both, heat and electricity, at the same time is known as combined heat and power (CHP) generation. Different fuels, such as natural gas, biofuels, and oil, are used in the process. CHP is a system that recovers lost energy by using waste heat. It provides heat to the power plant or the buildings connected to the power plant via a steam pipe network.

    Ongoing investments to reduce the reliance on conventional coal-fired power plants, rising demand for clean energy, increasing urbanization and industrialization, and growing adoption of biomass power are expected to drive the market growth. Overall, the combined heat and power market is estimated to grow at a promising CAGR of 8.5% during the forecast period.

    Combined Heat and Power Market – Snapshot

    Growth

    8.5% for the next five years

    Major Fuel Type

    Natural gas

    Major Capacity Type

    1kW-0.5MW

    Technology Type

    Steam Turbine

    Region with the highest demand

    North America

    Key Players

    2G Energy AG, Caterpillar Inc., General Electric, Kawasaki Heavy Industries, Ltd., MAN Energy Solutions SE, Siemens AG, Veolia Environment S.A., VIESSMANN Manufacturing Company Inc., Wärtsilä, and Yanmar Co., Ltd.

     

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    Segments' Analysis

    Based on the fuel type, the market is segmented as natural gas, coal, biomass, and others. Natural gas is expected to account for the major share of the market due to its high efficiency, low price, increased production across the globe, and significantly low carbon emissions.

    Based on the end-use type, the market is segmented as residential, commercial, and industrial. The commercial segment is estimated to be the leading end-use type during the forecast period. Ongoing fund inflows by respective governments for the development of various commercial facilities, including offices, educational institutions, hospitals, and others, are expected to boost the growth of the commercial end-use segment. Furthermore, growing investments in green buildings, owing to strict building emission norms are likely to drive the growth in the commercial segment over the coming years.

    Based on the capacity type, the market is bifurcated into 1kW-0.5MW, 0.5MW-5MW, and above 5MW. The 1kW-0.5MW capacity range is expected to grow rapidly in the market due to the ongoing expansion of the residential and commercial sectors, as well as benefits such as high energy efficiency and low operational costs.

    Based on the technology type, the market is segmented as combined cycle, steam turbine, gas turbine, reciprocating engine, and others. Steam turbine is estimated to witness significant growth in the market in the coming years. Steam turbines are one of the most versatile and oldest technologies used in the generation of heat and electricity. The technology is expected to grow significantly in the coming years due to its high reliability, smooth operations, and extremely long operational life when compared to other alternatives.

    In terms of regions, North America is estimated to be the leading region in the market during the forecast period. Governments across the region are supporting the region's market growth by establishing strict carbon emission targets, as a result of which countries are reducing their reliance on coal-powered power plants and introducing cleaner fuels into their energy mix. Furthermore, rising demand for clean energy is expected to drive the market growth in the coming years.

    Key Players

    The following are some of the key players in the combined heat and power market:

    • 2G Energy AG
    • Caterpillar Inc.
    • General Electric
    • Kawasaki Heavy Industries, Ltd.
    • MAN Energy Solutions SE
    • Siemens AG
    • Veolia Environment S.A.
    • VIESSMANN Manufacturing Company Inc.
    • Wärtsilä
    • Yanmar Co., Ltd.

    Research Methodology

    This strategic assessment report, from Stratview Research, provides a comprehensive analysis that reflects today’s combined heat and power market realities and future market possibilities for the forecast period of 2022 to 2027. The report segments and analyzes the market in the most detailed manner in order to provide a panoramic view of the market. The vital data/information provided in the report can play a crucial role for the market participants as well as investors in the identification of the low-hanging fruits available in the market as well as to formulate the growth strategies to expedite their growth process.

    This report offers high-quality insights and is the outcome of a detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders, and validation and triangulation with Stratview Research’s internal database and statistical tools. More than 1,000 authenticated secondary sources, such as company annual reports, fact books, press releases, journals, investor presentations, white papers, patents, and articles, have been leveraged to gather the data. We conducted more than 15 detailed primary interviews with the market players across the value chain in all four regions and industry experts to obtain both qualitative and quantitative insights.

    Report Features

    This report provides market intelligence in the most comprehensive way. The report structure has been kept such that it offers maximum business value. It provides critical insights into the market dynamics and will enable strategic decision making for the existing market players as well as those willing to enter the market. The following are the key features of the report:

    • Market structure: Overview, industry life cycle analysis, supply chain analysis.
    • Market environment analysis: Growth drivers and constraints, Porter’s five forces analysis, SWOT analysis.
    • Market trend and forecast analysis.
    • Market segment trend and forecast.
    • Competitive landscape and dynamics: Market share, Product portfolio, New Product Launches, etc.
    • Attractive market segments and associated growth opportunities.
    • Emerging trends.
    • Strategic growth opportunities for the existing and new players.
    • Key success factors.

    The combined heat and power market is segmented into the following categories:

    Combined Heat and Power Market, by Fuel Type

    • Natural Gas (Regional Analysis: North America, Europe, Asia-Pacific, and Rest of the World)
    • Coal (Regional Analysis: North America, Europe, Asia-Pacific, and Rest of the World)
    • Biomass (Regional Analysis: North America, Europe, Asia-Pacific, and Rest of the World)
    • Others (Regional Analysis: North America, Europe, Asia-Pacific, and Rest of the World)

    Combined Heat and Power Market, by End-Use Type

    • Residential
      • (Regional Analysis: North America, Europe, Asia-Pacific, and Rest of the World)
      • (Type Analysis: Space Heating/Cooling, Water Heating, Cooking, and Lighting and Others)
    • Commercial
      • (Regional Analysis: North America, Europe, Asia-Pacific, and Rest of the World)
      • (Type Analysis: Educational Institution, District Energy, Office Building, Government/Military, and Others)
    • Industrial
      • (Regional Analysis: North America, Europe, Asia-Pacific, and Rest of the World)
      • (Type Analysis: Chemical, Petroleum Refining, Food, Paper, Primary Metals, and Others)

    Combined Heat and Power Market, by Capacity Type

    • 1kW-0.5MW (Regional Analysis: North America, Europe, Asia-Pacific, and Rest of the World)
    • 0.5MW-5MW (Regional Analysis: North America, Europe, Asia-Pacific, and Rest of the World)
    • Above 5MW (Regional Analysis: North America, Europe, Asia-Pacific, and Rest of the World)

    Combined Heat and Power Market, by Technology Type

    • Combined Cycle (Regional Analysis: North America, Europe, Asia-Pacific, and Rest of the World)
    • Steam Turbine (Regional Analysis: North America, Europe, Asia-Pacific, and Rest of the World)
    • Gas Turbine (Regional Analysis: North America, Europe, Asia-Pacific, and Rest of the World)
    • Reciprocating Engine (Regional Analysis: North America, Europe, Asia-Pacific, and Rest of the World)
    • Others (Regional Analysis: North America, Europe, Asia-Pacific, and Rest of the World)

    Combined Heat and Power Market, by Region

    • North America (Country Analysis: The USA, Canada, and Mexico)
    • Europe (Country Analysis: Germany, France, The UK, Russia, Italy, and Rest of Europe)
    • Asia-Pacific (Country Analysis: China, Japan, India, South Korea, and Rest of Asia-Pacific)
    • Rest of the World (Country Analysis: Brazil, Argentina, and Others)

    Report Customization Options

    With this detailed report, Stratview Research offers one of the following free customization options to our respectable clients:

    Company Profiling

    • Detailed profiling of additional market players (up to three players)
    • SWOT analysis of key players (up to three players)

    Competitive Benchmarking

    • Benchmarking of key players on the following parameters: Product portfolio, geographical reach, regional presence, and strategic alliances

    Custom Research: Stratview research offers custom research services across the sectors. In case of any custom research requirement related to market assessment, competitive benchmarking, sourcing and procurement, target screening, and others, please send your inquiry to sales@Stratviewresearch.com.

    Frequently Asked Questions (FAQs)

    The combined heat and power market is estimated to grow at a healthy CAGR of 8.5% over the next five years. Ongoing investments to reduce the reliance on conventional coal-fired power plants, rising demand for clean energy, increasing urbanization and industrialization, and growing adoption of biomass power are expected to drive the market growth during the forecast period.

    2G Energy AG, Caterpillar Inc., General Electric, Kawasaki Heavy Industries, Ltd., MAN Energy Solutions SE, Siemens AG, Veolia Environment S.A., VIESSMANN Manufacturing Company Inc., Wrtsil, and Yanmar Co., Ltd. are some of the key players in the market.

    North America is estimated to be the leading region in the combined heat and power market in the coming years on account of stringent government norms to curb carbon emission, rising demand for clean energy, and declining reliance on coal power plants.

    Natural gas is estimated to register high growth rate in the market in the coming years on account of its high efficiency, low price, increased production across the globe, and significantly low carbon emissions.

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