The rise in the demand for electricity across the globe, along with the depleting renewable sources of energy, is likely to drive the overall cogeneration equipment market in the coming few years. The global phenomenon of climate change and the initiatives by various governments to tackle the same across the globe are also likely to propel this market. Cogeneration is used in several areas such as oil and gas production facilities, residential buildings, hospitals, shopping complexes, universities, residential buildings, and small and large industries. The heat generated from cogeneration techniques is used for applications such as industrial processes, space heating and water heating.
The global cogeneration equipment market has been studied by researchers using SWOT analysis to point out the strengths, weaknesses, opportunities, and threats impacting the global cogeneration equipment market. Furthermore, it also includes Porter’s five forces analysis to highlight the threat of new entrants, the threat of substitute products or services, the bargaining power of suppliers, the bargaining power of customers, and the intensity of competitive rivalry. The researchers have also studied the historical data pertaining to the global cogeneration equipment market and compared it to the current market scenario for a comprehensive analysis. The holistic outlook of the global cogeneration equipment market opens a platform for discussion of the trajectory of the market in the coming years.
Cogeneration, also known as combined heat and power (CHP) technology, refers to a method of collectively generating the mechanical power of electricity and heat energy from the same source of energy. The global cogeneration equipment market uses gas turbines, reciprocating engines, steam turbines, electric generators, heat recovery steam generators (HRSG), and boilers. The exceptional benefits delivered by this equipment are driving the global cogeneration equipment market. Furthermore, the effectiveness of using a fuel source to generate both electricity and heat while creating minimal wastage is leading to the growth of this market.
An overview of the global cogeneration equipment market indicates that the rising price of fuel and tumultuous nature of the economy have created a desperate need for efficient power cogeneration equipment to create profitable and sustainable energy solutions. Cogeneration equipment manufacturers are looking at technological advancements to improve efficiency, equipment quality, and portability. Furthermore, remarkable product innovations and strong research and development activities are promoting the global cogeneration equipment market. However, this market faces a huge challenge of inconsistency in orders. Owing to this, manufacturers are finding it increasingly difficult to manage cost depreciation, inventory costs, salaries of workforce, and plant management.
Companies Mentioned in the Global Cogeneration Equipment Market Report are:
Some of the important players in the global cogeneration equipment market are American DG Energy Inc., Silbrico Corporation, Russelectric Inc., Gasco, Mr. Electric, Turner Crane, Almeg Controls, Allied Equipment, Allied Dry Cleaning Equipment, Shandong Lvhuan Power Equipment Co. Ltd., Shenzhen Teweite Mechanical and Electronic Equipment Co Ltd., Steiner Atlantic FT, Cidea Uno Inc., Perry Process Equipment Ltd., Ian Fu, International Process Plants, Transparent Energy Systems Pvt. Ltd., US Green Energy Ltd., and others.
Global Cogeneration Equipment Market by Geography:
- North America
- Asia Pacific
- Rest of the World
This report gives you access to decisive data such as:
- Market growth drivers
- Factors limiting market growth
- Current market trends
- Market structure
- Market projections for the coming years
Key highlights of this report
- Overview of key market forces propelling and restraining market growth
- Up-to-date analyses of market trends and technological improvements
- Pin-point analyses of market competition dynamics to offer you a competitive edge
- An analysis of strategies of major competitors
- An array of graphics and SWOT analysis of major industry segments
- Detailed analyses of industry trends
- A well-defined technological growth map with an impact-analysis
- Offers a clear understanding of the competitive landscape and key product segments