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Global Cogeneration Equipment Market: Snapshot

The global cogeneration equipment market is displaying steady growth due to the pressing need for efficient power generation techniques to meet the ever-increasing demand for electricity. Cogeneration involves generating electricity and heat simultaneously from a single fuel source such as natural gas and biomass. Cogeneration systems provide efficiency from 77% to 81% as compared to 46% efficiency of conventional systems and can reduce carbon emissions by up to 29% over conventional systems.

The depletion of fossil fuels has necessitated the adoption of alternate techniques for energy generation such as cogeneration. Furthermore, government initiatives for energy conservation and the need to address climatic changes have led to the adoption of cogeneration, thus benefitting the cogeneration equipment market.

The increasing number of renewable energy projects and abundant availability of natural gas in some parts of the world are also stoking growth of cogeneration equipment market.

On the downside, high initial investment and sophisticated technological requisites are limiting the adoption of cogeneration equipment across medium and small sized enterprises. Nevertheless, benefits of increased revenue generation in the long term as compared to conventional systems for electricity generation will bode well for the market’s growth.

A report by Transparency Market Research projects the global cogeneration equipment market to rise at a CAGR of 4.8% between 2017 and 2025, for the market to become worth US$33,543 mn by the end of 2025 from US$22,175 mn in 2016.

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Industrial Application Segment stood Dominant in Recent Past

The report studies the global cogeneration equipment market on the basis of a few parameters, viz. fuel type, application, capacity, technology, and geography. Depending on capacity, the segments into which the global cogeneration equipment market is divided are up to 30 MW, 31MW- 60 MW, and 61MW-100 MW.  On the basis of technology, the global cogeneration equipment market has been segmented into steam turbine, combine cycle gas turbine, gas turbine, reciprocating engine, and others. Vis-à-vis revenue, gas turbine segment held more than 22.5% of the market in 2016. On the basis of fuel used, the cogeneration equipment market has been segmented into biomass, coal, natural gas, and others. Of them, natural gas segment held more than 52% market share in terms of revenue in 2016.

By application, the segments into which the global cogeneration equipment market has been divided are residential, commercial, and industrial. The industrial segment represented more than 58% market share in terms of revenue in 2016.

Stringent Mandates to Curb Carbon Emissions Make Europe a Key Market

In terms of region, the cogeneration equipment market has been classified into North America, Asia Pacific, Europe, Latin America, and the Middle East and Africa. Among them, Asia Pacific led the market holding more than 42% market share in 2016; going forward, the region is anticipated to lead the market during the forecast period. Europe held the second-leading 31.0% share of the cogeneration equipment market in 2016. The growth of this regional market is mainly because of collective carbon emission targets and stringent government regulations for improved efficiency in power generation.

Powered by the U.S., North America stood as a significant market for cogeneration equipment in 2016. Stringent mandates for energy security and need for clean and cost-effective operations are anticipated to boost the uptake of cogeneration in the U.S. and Canada.

Key players in the global cogeneration equipment market include BDR Thermea, Siemens AG, Mitsubishi Heavy Industries Ltd., Clarke Energy, Innovate Steam Technologies, Foster Wheeler AG, ANDRITZ Energy & Environment GmbH, 2G Energy, ABB, Aegis Energy Services Inc., Rolls Royce Plc., Innovate Steam Technologies, and Kawasaki Heavy Industries.

Global Cogeneration Equipment Market: Overview

This report analyzes and forecasts the market for cogeneration equipment at the global and regional level. The market has been forecast based on revenue (US$ Mn) from 2017 to 2025. The study includes drivers and restraints of the global cogeneration equipment market. It also covers the impact of these drivers and restraints on demand for cogeneration equipment during the forecast period. The report also highlights opportunities in the cogeneration equipment market at the global and regional level.

The report comprises a detailed value chain analysis, which provides a comprehensive view of the global cogeneration equipment market. Porter’s Five Forces model for the cogeneration equipment market has also been included to help understand the competitive landscape in the market. The study encompasses market attractiveness analysis, wherein application areas are benchmarked based on their market size, growth rate, and general attractiveness.

The report provides the estimated market size of cogeneration equipment for 2016 and forecast for the next nine years. The global market size of cogeneration equipment has been provided in terms of revenue. Market numbers and market sizing have been estimated based on key technology, capacity, fuel, application and regional segments of cogeneration equipment market in terms of global and regional/country markets.

Global Cogeneration Equipment Market: Research Methodology

In order to compile the research report, we conducted in-depth interviews and discussions with a number of key industry participants and opinion leaders. Primary research represents the bulk of research efforts, supplemented by extensive secondary research. We reviewed key players’ product literature, annual reports, press releases, and relevant documents for competitive analysis and market understanding. Secondary research also includes a search of recent trade, technical writing, internet sources, and statistical data from government websites, trade associations, and agencies. This has proven to be the most reliable, effective, and successful approach for obtaining precise market data, capturing industry participants’ insights, and recognizing business opportunities.

Secondary research sources that are typically referred to include, but are not limited to company websites, annual reports, financial reports, broker reports, investor presentations, and SEC filings, internal and external proprietary databases, and relevant patent and regulatory databases, national government documents, statistical databases, and market reports, news articles, press releases, and webcasts specific to companies operating in the market, National government documents, statistical databases, and market reports, news articles, press releases, and webcasts specific to companies operating in the market, Factiva, etc.

Primary research involves e-mail interactions, telephonic interviews, and face-to-face interviews for each market, category, segment, and sub-segment across geographies. We conduct primary interviews on an ongoing basis with industry participants and commentators in order to validate the data and analysis. Primary interviews provide firsthand information on market size, market trends, growth trends, competitive landscape, and outlook, etc. These help validate and strengthen secondary research findings. These also help develop the analysis team’s expertise and market understanding.

Global Cogeneration Equipment Market: Market Segmentation

The study provides a decisive view of the global cogeneration equipment market by segmenting it in terms of capacity, technology, fuel, application and region. These segments have been analyzed based on present and future trends. Regional segmentation includes the current and forecast demand for cogeneration equipment in North America, Europe, Asia Pacific, Latin America, Middle East and Africa.

Global Cogeneration Equipment Market: Market Dynamics

Cogeneration in now days is one of the attractive option for developed and developing countries in order to meet their base and peak demand. The environmental concerns, stringent emission norms by the government focusing on the development of the new technologies which could reduce the toxic emissions.

The global cogeneration equipment market is witnessing a considerable demand every year. The market is continuing to grow due to increase in electricity demand and heat demand from the countries like China, the US and the UK, while some of the emerging in this market are Brazil, Mexico, Malaysia, Indonesia, and South Africa. The government of the countries are promoting cogeneration technology through long term policy and incentives for the decentralized generation. The cogeneration market face one of the hurdle of high initial investment which is high for the small scale commercial and industries installations. Considering the long term operation, the cogeneration systems are beneficial compared to conventional systems.

Global Cogeneration Equipment Market: Competitive Landscape

The study includes profiles of major companies operating in the global cogeneration equipment market. . Prominent players in the cogeneration equipment market are BDR Thermea, Siemens AG, Mitsubishi’s heavy industries Ltd., Clarke Energy, Innovate steam technologies, Foster wheeler AG, ANDRITZ Energy & Environment GmbH, 2G Energy, ABB, Aegis Energy Services, Inc., Rolls Royce Plc., Innovate Steam Technologies, Kawasaki Heavy Industries Ltd. and others

Market players have been profiled in terms of attributes such as company overview, financial overview, business strategies, recent developments, and SWOT analysis.

The Global Cogeneration equipment market has been segmented as follows:

Global Cogeneration equipment Market: By Capacity

  • Upto 30 MW
  • 31MW -60 MW
  • 61 MW- 100 MW

Global Cogeneration equipment Market: By Fuel

  • Biomass
  • Coal
  • Natural Gas
  • Others

Global Cogeneration equipment Market: By Technology

  • Steam Turbine
  • Gas Turbine
  • Combined Cycle Gas Turbine
  • Reciprocating engine
  • Others

Global Cogeneration equipment Market: By Application

  • Industrial
  • Residential
  • Commercial

Global Cogeneration equipment Market: By Region/Country/Sub-region

  • North America
    • US
    • Canada
  • Europe
    • Germany
    • UK
    • France
    • Italy
    • Spain
    • Rest of Europe
  • Asia Pacific
    • China
    • India
    • Japan
    • ASEAN
    • Rest of Asia Pacific
  • Middle East
    • GCC
    • Egypt
    • Rest of Middle East
  • Africa
    • South Africa
    • Nigeria
    • Rest of Africa
  • Latin America
    • Brazil
    • Mexico
    • Rest of Latin America