Market
Highlights
Combined heat and power plants are typically embedded close to the end user and helps to reduce transportation and distribution losses, improving the overall performance of the electricity transmission and distribution network. It also acts as energy multiplier, helping to cut carbon emissions, increase power reliability and save money. This technology is widely available, with further opportunities for development and enhancement. Furthermore, only suitable where there is a need for both electricity and hot water on site which acts as a barrier for the growth of the market. Presence of a large number of companies offering diverse products and services related to CHP installations is fueling competition in the global CHP installation market.
Combined heat and power plants are typically embedded close to the end user and helps to reduce transportation and distribution losses, improving the overall performance of the electricity transmission and distribution network. It also acts as energy multiplier, helping to cut carbon emissions, increase power reliability and save money. This technology is widely available, with further opportunities for development and enhancement. Furthermore, only suitable where there is a need for both electricity and hot water on site which acts as a barrier for the growth of the market. Presence of a large number of companies offering diverse products and services related to CHP installations is fueling competition in the global CHP installation market.
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Overview
Combined heat and power plants are typically
embedded close to the end user and helps to reduce transportation and
distribution losses, improving the overall performance of the electricity
transmission and distribution network. It also acts as energy multiplier, helping
to cut carbon emissions, increase power reliability and save money. This
technology is widely available, with further opportunities for development and
enhancement. Furthermore, only suitable where there is a need for both
electricity and hot water on site which acts as a barrier for the growth of the
market. The combined heat and power market is expected to grow over the CAGR of
around 6.94 % during the period 2017 to 2023.
Key
Players
The key players of global combined heat and power
(CHP) market are MAN Diesel & Turbo SE (Germany), Caterpillar Inc (U.S.),
Mitsubishi heavy Industries ltd.(Japan), General Electric (U.S.),
Cummins(U.S.), Bosch Thermo Technology Ltd.( U.K),ABB Limited(Switzerland ),
ENER-G Rudox (U.S.), Veolia (France )and others.
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Region
Outlook
Europe accounts for one of the largest installed
bases of cogeneration power plants in the world and continue to dominate
the market of combined heat and power (CHP). The easy availability of
natural gas in Europe makes installation relatively easier and more
cost-effective. The region is a global leader in micro-CHP engine with
innovation and manufacturing centers in Germany, the Netherlands and the
U.K. This has been spurring the demand for CHP installations in countries such
as Belgium, Germany, Italy, and the Netherlands. Moreover, high demand for
small-scale CHPs in Japan, coupled with their increasing installation across
diverse industries, has been boosting demand for the CHP installation in the
region. The Japanese government provides subsidies for the development of
this green technology.
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