Global Combined Heat and Power (CHP) Market Overview:
Combined Heat and Power (CHP) is an energy technology that has been utilized for more than 100 years at a variety of facility types, providing advantages in terms of reliability and resilience as well as the economy and the environment. Facilities with year-round concordant power and thermal loads are best suited for CHP because it generates both electricity and thermal energy. As of December 2020, CHP is installed at more than 4,700 facilities nationwide, generating over 81 gigawatts, or almost 8% of the country's total power capacity. Every state in the US as well as Washington, D.C., Puerto Rico, and the US Virgin Islands have CHP systems. Asia Pacific has the largest share in this market due to rapid industrialization, urbanization, and economic growth in the region, leading to the installation of new CHP systems in various emerging economies.
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- Rising Need for CHP Research and Development Program
- Development of Flexible CHP Systems
- Government Programs and Incentives to Promote CHP
- Integration of CHP directly into district energy systems
- Rising Demand for Backup Power
- High Installation and Maintenance Costs of CHP Systems
- Lack of Interest in the Development of CHP Systems Caused By the Presence of Competing Technologies
- CHP Eco-Friendly Environmental Regulations
- Growth in Deployment of Micro-CHP Systems
- Upgrading or Replacing Outdated Power Generation Machinery
- Growth in Distributed Power Generation Creating Huge Opportunity for Gas Turbine-Based CHP Market
- Damage to prime movers due to impurities in biogas fuelled CHP
- Challenges posed by utilities for the sale of excess electricity by CHP plants
- Stability issues related to the decentralization of energy generation
The Combined Heat and Power market is a fragmented market due to the presence of various players. The players are focusing on R&D activities to develop CHP systems. These will enhance their market presence. The companies are also planning strategic activities like partnerships, mergers, and acquisitions which will help them to sustain in the market and maintain their competitive edge.
Some of the key players profiled in the report are General Electric (United States), Siemens Energy (Germany), Veolia (France), Wärtsilä (Finland), 2g Energy (Germany), Man Energy Solutions (India), Mitsubishi Heavy Industries (Japan), Clarke Energy (United Kingdom), Caterpillar (United States), Ab Holding (Latvia), Fuelcell Energy (United States), Capstone Green Energy (United States), E.ON (Germany), Cummins (United States), Bosch (Germany), Centrica (United Kingdom), Tecogen (United States), BDR Thermea Group (Netherlands), Viessmann Werke (United Kingdom) and Dalkia Aegis EDF Group (United States). Additionally, following companies can also be profiled that are part of our coverage like ClearCell Power (United States), H3-Combined Heat and Power (Canada), Enexor Bioenergy (United States), Renewable Energy Solutions Environmental Technology (RESET) (Italy) and HELEC Limited (United Kingdom). Analyst at AMA Research see Asia Pacific Manufacturers to retain maximum share of Global Combined Heat and Power (CHP) market by 2027. Considering Market by , the sub-segment i.e. will boost the Combined Heat and Power (CHP) market.
Latest Market Insights:
In January 2020, Veolia signed a 15-year contract with Total Fitness to install CHP units across 17 health and fitness facilities in the north of England and Wales. Veolia will assist Total Fitness in achieving a 32% reduction in gas consumption and a 22% increase in electrical efficiency.
In February 2021, Siemens signed an agreement with the Guangdong Energy Group to provide F-class gas turbine island equipment for the Zhaoqing Dinghu Combined Heat and Power (CHP) generation project in Dinghu District, Zhaoqing City, Guangdong Province (China). The CHP plant is rated at 2×460MW and includes two SGT5-4000F gas turbines, two steam turbines, four generators, two SPPA-T3000 control systems, and related auxiliary equipment.
What Can be Explored with the Combined Heat and Power (CHP) Market Study
Gain Market Understanding
Identify Growth Opportunities
Analyze and Measure the Global Combined Heat and Power (CHP) Market by Identifying Investment across various Industry Verticals
Understand the Trends that will drive Future Changes in Combined Heat and Power (CHP)
Understand the Competitive Scenario
- Track Right Markets
- Identify the Right Verticals
The top-down and bottom-up approaches are used to estimate and validate the size of the Global Combined Heat and Power (CHP) market.
In order to reach an exhaustive list of functional and relevant players various industry classification standards are closely followed such as NAICS, ICB, SIC to penetrate deep in important geographies by players and a thorough validation test is conducted to reach most relevant players for survey in Combined Heat and Power (CHP) market.
In order to make priority list sorting is done based on revenue generated based on latest reporting with the help of paid databases such as Factiva, Bloomberg etc.
Finally the questionnaire is set and specifically designed to address all the necessities for primary data collection after getting prior appointment by targeting key target audience that includes Federal, Regulatory Bodies, Commercial buildings, Research and Development Institutes and Others.
This helps us to gather the data related to players revenue, operating cycle and expense, profit along with product or service growth etc.
Almost 70-80% of data is collected through primary medium and further validation is done through various secondary sources that includes Regulators, World Bank, Association, Company Website, SEC filings, OTC BB, USPTO, EPO, Annual reports, press releases etc.