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Global CHP (Combined heat and power) Installation Market: Snapshot

Cogeneration or combined heat and power (CHP) is the use of a heat engine or power station to generate electricity and heat at the same time. Conventional power plant produces electricity by a fairly inefficient process. Fossil fuels such as oil, coal, and natural gas are burned in a giant furnace to release heat energy. The heat is used to boil water and produce steam. The steam drives a turbine, which, in turn, drives the generator. The generator produces electricity.

According to a report by Transparency Market Research (TMR), the opportunities in the global CHP installation market are expected to climb from US$836.6 bn in 2018 to US$1,198.8 bn by end of 2027, growing at a CAGR of 4.05% from 2019-2027. The total CHP installed capacity is expected to reach 1,000 GWH by 2027.

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Growing Environmental Concern followed by Utilization of Renewable Energy Sources to Benefit Market

Increase in environmental concerns is compelling various countries to generate power using renewable sources of energy such as wind, wave, and tidal. New generations of turbines and reciprocating engines are the result of an intensive collaborative research between governments and manufacturers that use advanced materials and computer-aided design techniques. This has significantly increased equipment efficiency and reliability, while reducing costs and pollutant emissions for the installation of CHP. Various governments have implemented policies and programs to promote the usage of cogeneration. Governments are also providing subsidies. Additionally, recovery in the European economy, rapid urbanization in countries such as India and China, rise in disposable income, and increase in government efforts to provide social housing are projected to drive the residential buildings sector. This, in turn, is likely to boost the CHP installation market.

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North America and Asia Pacific to be the Emerging Market for CHP Installation

In terms of region, the global CHP Installation market can be divided into North America, Europe, Asia Pacific, Middle East & Africa, and Rest of World. Europe is a mature region of the market. The market in Europe is anticipated to expand substantially during the forecast period. Asia Pacific and North America are emerging regions of the market. The CHP installation market in these regions is estimated to expand significantly during the forecast period.

Key Players in the Global CHP (Combined heat and power) Installation Market

Leading players dominate the market. Key players operating in the CHP installation market include

  • Siemens AG
  • General Electric Company
  • Cummins Inc.
  • Generac Holdings
  • Capstone Turbine Corporation

 2G Energy Services, and Wärtsilä Corporation. Market players have been profiled in terms of attributes such as company overview, financial overview, business strategies, and recent developments.

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Global CHP (Combined heat and power) Installation Market: Recent Developments

  • On March 2020, the newly installed combined heat and power (CHP) plant at Toplana Zenica, is expected to start operations in 2021. This will eliminate the use of coal for district heating and utilize waste gases from the ArcelorMittal Zenica steel plant. The CHP plant will have a power output of 14.45 MW and a heat capacity of 112.5 MW.
  • On February 2020, Eastlink Centre, Canada announced the installation plans for the CHP unit before the Council. The recommendation was for Council to amend the 2020/2021 capital plan to include US$ 1.8 Mn for the installation of the CHP unit.

CHP (Combined heat and power) Installation Market – Scope of the Report

Transparency Market Research’s recent report on the global CHP (combined heat and power) installation market, with the help of a comprehensive outlook, provides readers with an assessment of the global market landscape. This study on the global CHP (combined heat and power) installation market analyzes the market scenario for the period from 2018 to 2027, wherein 2018 is the base year. This report enables readers to make important decisions with regard to their business, with the help of a wealth of information enclosed in the study.

This TMR study on the global CHP (combined heat and power) installation market also provides data on developments made by important players and stakeholders operating in the market, along with competition analysis. The report also provides an understanding of strengths, weaknesses, threats, and opportunities, along with market trends and restraints in the competition landscape section.

This study also discusses the underlying trends and the impact of various factors on the global CHP (combined heat and power) installation market along with their influence on evolution of the market

This study also offers Porter’s five forces analysis, value chain analysis, and regulatory scenario of the global CHP (combined heat and power) installation market, in order to elaborate crucial growth strategies of and opportunities for players operating in the market

Key Questions Answered in Global CHP (Combined heat and power) Installation Market Report

  • How much value does the global CHP (combined heat and power) installation market is expected to reach by the end of the forecast period?
  • Which region currently account for the maximum share of the global CHP (combined heat and power) installation market?
  • What are the key factors expected to drive the global CHP (combined heat and power) installation market?
  • Which region is likely to be a lucrative market for CHP (combined heat and power) installation during the forecast period?
  • What are the essential strategies adopted by key players operating in the global CHP (combined heat and power) installation market to expand their geographical presence?
  • What are major advancements in the global CHP (combined heat and power) installation market?

This report answers these questions about the global CHP (combined heat and power) installation market, aiding major stakeholders and key players in making the right decisions and strategizing for growth of their business

Global CHP (Combined heat and power) Installation Market: Research Methodology

This TMR report on the global CHP (combined heat and power) installation market is based on a complete and comprehensive evaluation of the market, backed by secondary and primary sources. The competition scenario of the global CHP (combined heat and power) installation market is supported by an assessment of different factors that influence the market on a minute and granular level. By thoroughly analyzing the historical data and the current trends, researchers of the global CHP (combined heat and power) installation market arrived at predictions and estimations, and calculated the market forecast.

This report uses an analytical triangulation method to estimate the numbers of the global CHP (combined heat and power) installation market, by using both bottom-up and top-down approaches

This detailed assessment of the global CHP (combined heat and power) installation market, along with an overview of the market, is provided based on a careful examination of avenues related to the market. Analysts’ conclusions on how the global CHP (combined heat and power) installation market is set to expand are based on carefully vetted primary and secondary sources.

Global CHP (Combined heat and power) Installation Market: Segmentation

This report on the global CHP (combined heat and power) installation market provides segmentation of the market based on equipment fuel, prime mover, application, and region and country

Fuel

  • Biomass
  • Coal
  • Natural Gas

Prime Mover

  • Steam Turbine
  • Combined Cycle
  • Gas Turbine
  • Reciprocating Engine
  • Others (Stirling Engine, Organic Rankine Cycle)

Application

  • Commercial & Residential
  • Industrial

Region

  • North America
  • Europe
  • Asia Pacific
  • Middle East & Africa
  • Latin America

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Combined Heat And Power