Combined Heat And Power Chp Systems Market

Combined Heat And Power Chp Systems Market

Combined Heat and Power (CHP) Systems Market Forecast, Trend, Analysis & Competition Tracking - Global Market Insights 2020 to 2030

  • XPLREP5735

  • July, 2020

  • 170 Pages

  • Industrial Automation

Quest for “Clean & Sustained Energy” to Drive the Combined Heat and Power (CHP) Systems Market

As per a report available on XploreMR, the global combined heat and power (CHP) systems market is expected to make greater strides in the years to come.

Captive power generation has been doing the rounds since the last few years. Plus, the customers are showing an increasing inclination towards sustainable energy. These factors are expected to augment the combined heat and power (CHP) systems market in the near future.

The other burning issues include GHG emissions. To counter this, the governments have been directly/indirectly investing in renewable sources of energy. For instance – The government of China, in 2017, did abandon close to 100 imminent fired power plants that had 120 GW of projected capacity.

Combined heat and power (CHP) plants, better known as cogeneration plants, do generate electricity and help in capturing of thermal energy in the integrated system. This energy could be used for space cooling & heating across residential and commercial infrastructure. This reduces distribution losses and reaches efficiency of more than 80%.

What to watch out for?

The current scenario is such that there is an ever-increasing demand for “decentralized energy generation” coupled with availability of broad capacities and designs. This factor is expected to hold the flag high for combined heat and power (CHP) systems market in the upcoming period. The adoption of these systems is likely to be influenced by lower operating costs, utmost efficiency, and competitive gas prices.

Natural gas-based combined heat and power (CHP) systems hold the largest market share and the scenario is expected to continue in the forecast period as well. This could be reasoned with demand for revamping and retrofitting of the existent power generation plants, and, not to forget – declination in prices due to growing production of hydrocarbons. The government of the UK has put its best foot forward in this regard by announcing discarding conventional power generation plants by the year 2025.

Innovations have also been paving the way for growth of combined heat and power (CHP) systems market. For example – ENER-G, in the year 2018, did come up with an innovation named “E-Power”, which helped in the optimization of performance of CHP systems, and proved to be pocket-friendly in terms of high performance and maintenance. The installation of biomass CHP plants is being asked for owing to various non-domestic renewable energy incentives along with road transport fuel certificates being introduced through government schemes.

Coming to research, the US government has its FutureGen 2.0 projects with “Climate Change Technology” platform for promoting the IGCC (Integrated Gasification Combined Cycle) technology. Moreover, the fact that stringent regulations with regards to infrastructure emission are being put into practice can’t be ruled out. Also, financial incentives with conducive net metering norms are fostering deployment of the CHP facilities all across the developed countries. For instance – the ACC (Arizona Corporation Commission), in the year 2017, did introduce energy equipment property tax exemption. Since then, incentives, grants, and rebates worth US$ 400/kW – US$ 500/kW are being provided to industrial and commercial customers all across installation of CHP systems.

Covid-19 Impact

The outbreak of Covid-19 has stalled the installation of CHP systems for the time being. Though the year 2020 will witness the same thing, the year 2021 is expected to bring in arithmetic progression on this count, as post-Covid era will also call for clean energy.

Region-Wise Segregation

North America and Europe collectively hold more than 50% of market share due to the measures taken by the governments of the US and UK (mentioned in the paragraphs above). Additionally, it needs to be noted that in 2019 the US government did announce an updated “SGIP (Self-Generation Incentive Program)” all across gas generation projects for improvising on adopting renewable fuel due to minimum 50% blend of the fuel mixture. Asia-Pacific is expected to pick up pace soon.

Competitive Landscape

The key players in the combined heat and power (CHP) systems include Bosch Thermotechnology, Fuel Cell Energy, ABB, Wartsila, Mitsubishi, General Electric, MWM, Siemens, BDR Thermea, Veolia, ENER-G Rudox, Aegis Energy, Yanmar, 2G Energy, and MAN Diesel & Turbo.

Combined Heat and Power (CHP) Systems Market - Scope of the Report

XploreMR recently published a market study on the global combined heat and power (CHP) systems market. The study provides detailed assessment on key market dynamics, including the drivers, trends, opportunities, restraints, and detailed information about the combined heat and power systems market structure. The market study presents exclusive information about how the combined heat and power systems market will grow during the forecast period of 2020-2030.

Key indicators of market growth, which include Year-on-Year (Y-o-Y) growth of the market, value chain, supply chain analysis, and Compounded Annual Growth Rate (CAGR) are explained in XploreMR’s study in a comprehensive manner. This information can help readers understand the quantitative growth prospects of the combined heat and power systems market for the forecast period.

The study is relevant for stakeholders in the combined heat and power systems market, including manufacturers, suppliers, distributors, and investors, and can help them in developing appropriate strategies to grow in the market. Stakeholders in the combined heat and power systems market, investors, industry experts, researchers, and journalists, as well as business researchers can leverage the information and data presented in the XploreMR study.

The study also includes statistics as well as facts related to the macro- as well as micro-economic factors that are impacting developments in the combined heat and power systems market. It also offers actionable insights based on future trends in the CHP systems market. Furthermore, small businesses and new entrants in the combined heat and power systems market too can make use of the information presented in this study, based on which, they can make appropriate business decisions in order to gain momentum in the market.

Key Segments of CHP Systems Market

XploreMR’s study on the combined heat and power systems market offers information divided into five key segments — product, fuel, prime mower, application, and region. This report offers comprehensive data and information about the important market dynamics and growth parameters associated with these categories.

Product

Fuel

Prime Mower

Application

Region

Up to 30 MW

Natural Gas

Gas Turbines

Industrial

North America

30 MW to 60 MW

Coal

Steam Turbines

Residential

Latin America

Above 60 MW

Biomass

Gas Engines

Commercial

Europe

 

Other Renewable Resources

Fuel Cells

 

East Asia

 

 

 

 

South Asia & Oceania

 

 

 

 

Middle East & Africa (MEA)

Key Questions Answered in XploreMR’s CHP Systems Market Report

  • Which regions will continue to remain the most profitable regional markets for players in the CHP systems market?
  • Which factors will induce a change in the demand for combined heat and power systems during the assessment period?
  • How will changing trends impact the combined heat and power systems market?
  • How can market players capture the low-hanging opportunities in the combined heat and power systems market in developed regions?
  • Which companies are leading the CHP systems market?
  • What are the winning strategies of stakeholders in the combined heat and power systems market to upscale their position in this landscape?

Combined Heat and Power Systems Market: Research Methodology

In XploreMR’s study, a unique research methodology is utilized to conduct extensive research on the growth of the combined heat and power systems market, and reach conclusions on the future growth parameters of the market. This research methodology is a combination of primary and secondary research, which helps analysts ensure the accuracy and reliability of the conclusions.

Secondary resources referred to by analysts during the preparation of the combined heat and power systems market study include statistics from governmental organizations, trade journals, white papers, and internal and external proprietary databases. Analysts have interviewed senior managers, product portfolio managers, CEOs, VPs, marketing/product managers, and market intelligence managers, who have contributed to the development of this report as a primary resource.

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Combined Heat and Power (CHP) Systems Market Forecast, Trend, Analysis & Competition Tracking - Global Market Insights 2020 to 2030
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Combined Heat And Power Chp Systems Market

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