The global combined
heat and power (CHP) installation market is expected to reach USD
10.31 billion, according to a new report by Grand View Research, Inc. Shift in
preference towards replacing conventional energy systems on account of
operational cost and uninterrupted utility supply is expected to drive market growth.
Increasing energy demand from industrial applications, such as chemical,
refining, pharmaceuticals, paper, pulp, cement, and sugar, is also expected
have a positive influence on market growth. Increasing demand for space heating
and lighting applications in offices, retail malls, hospitals, and universities
has also prompted CHP installation for commercial applications. Initial high
installation cost coupled with longer payback periods is expected to pose
challenges to industry participants.
Natural gas based fuel systems dominated the overall
market and accounted for over 65% of the total volume in 2014. Recent decline
in natural gas prices on account of discovery of unconventional natural gas
reserves is expected to drive this segment over the forecast period. Coal-based
systems are expected to witness moderate growth rates with an estimated CAGR of
2.6% from 2015 to 2022.
Browse full research report on Combined Heat And Power Installation Market: https://www.grandviewresearch.com/industry-analysis/combined-heat-power-installation-market
Further
key findings from the report suggest:
- Global CHP installation was 411.6 GW in 2014 and is expected to
grow at a CAGR of 3.8% from 2015 to 2022
- Combined cycle was the most dominant technology and accounted for
over 50% of total installations in 2014. These systems are widely used for
industrial applications. Reciprocating engines are expected to witness
significant growth rates with an estimated CAGR of 7.6% from 2015 to 2022.
- Large-scale system was the leading product segment and accounted
for over 80% of installations. Small and micro-scale product-based systems
are expected to witness higher growth rates of 8.2% from 2015 to 2022
owing to increasing scope in residential and commercial applications.
- Industrial application dominated the overall market with
installation share estimated at 84.4% in 2014. Residential sector is
expected to witness higher growth rates of 4.2% from 2015 to 2022 owing to
growing energy due to population expansion.
- Europe emerged as the leading regional market and accounted for
over 45% of global industry in 2014. Asia Pacific is anticipated to
witness significant growth rate of 4.9% from 2015 to 2022. Presence of key
manufacturing industries in China, India, Japan, and South Korea is
expected to drive the regional market.
- Moderately consolidated market consists of manufactures and
domestic resellers and distributors. Key industry participants include
Mitsubishi Power Systems Americas Inc., Siemens Energy, General Electric
Energy, and E.ON Group. Other prominent players include ClearEdge Power,
Elite Energy Systems LLC, Aegis Energy Services Inc., BDR Thermea Group,
Dantherm Power, Ener-G Group, Caterpillar, Alstom, and Infinia
Corporation.
Browse more reports of this category
by Grand View Research: https://www.grandviewresearch.com/industry/power-generation-and-storage
Grand
View Research has segmented the CHP installation market on the basis of
product, fuel, technology, application, and region.
Combined
Heat & Power (CHP) Installation Product Outlook (Volume, GW; Revenue, USD
Billion, 2012 - 2022)
- Large scale
- Small &
Micro-scale
Combined
Heat & Power (CHP) Installation Fuel Outlook (Volume, GW; Revenue, USD
Billion, 2012 - 2022)
- Natural gas
- Coal
- Biomass
- Others
Combined
Heat & Power (CHP) Installation Technology Outlook (Volume, GW; Revenue,
USD Billion, 2012 - 2022)
- Combined
cycle
- Steam turbine
- Combustion/gas
turbine
- Reciprocating
engine
- Others
Combined
Heat & Power (CHP) Installation Application Outlook (Volume, GW; Revenue, USD
Billion, 2012 - 2022)
- Residential
- Commercial
- Industrial
Combined
Heat & Power (CHP) Installation Regional Outlook (Volume GW; Revenue, USD
Billion, 2012 - 2022)
- North America
- U.S.
- Canada
- Mexico
- Europe
- Russia
- Germany
- France
- UK
- Italy
- Spain
- Netherlands
- Poland
- Others
- Asia Pacific
- China
- India
- Japan
- Korea
- Taiwan
- RoW
About Grand View
Research
Grand View Research, Inc. is a U.S. based market
research and consulting company, registered in the State of California and
headquartered in San Francisco. The company provides syndicated research
reports, customized research reports, and consulting services. To help clients
make informed business decisions, we offer market intelligence studies ensuring
relevant and fact-based research across a range of industries, from technology
to chemicals, materials and healthcare.
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