
Combined Heat and Power Market Size, Share, and Analysis, By Fuel Type (Coal, Natural Gas, Biomass, Oil and Others), By Technology (Gas Turbine, Combined Cycle, Steam Turbine, Reciprocating Engine, Fuel Cell, Microturbine, Others), By End User (Residentia
Description
Combined Heat and Power Market Size, Share, and Analysis, By Fuel Type (Coal, Natural Gas, Biomass, Oil and Others), By Technology (Gas Turbine, Combined Cycle, Steam Turbine, Reciprocating Engine, Fuel Cell, Microturbine, Others), By End User (Residential, Commercial, Industrial), By Capacity (Up to 10MW, 10-150MW, 151-300 MW, Above 300 MW) and By Region (North America, Europe, Asia-Pacific, And Rest of the World) And Regional Forecast 2024-2034
Combined Heat and Power Market Size, Share, and Analysis, By Fuel Type (Coal, Natural Gas, Biomass, Oil and Others), By Technology (Gas Turbine, Combined Cycle, Steam Turbine, Reciprocating Engine, Fuel Cell, Microturbine, Others), By End User (Residential, Commercial, Industrial), By Capacity (Up to 10MW, 10-150MW, 151-300 MW, Above 300 MW) and By Region (North America, Europe, Asia-Pacific, And Rest of the World) And Regional Forecast 2024-
2034
PRODUCT OVERVIEW
Combined Heat and Power Market is anticipated to grow at a CAGR of 6.4% in the forecast period (2024-2034), with the market size valued at USD 27.2 billion in 2023 and projected to reach USD 54 billion by 2034.
Combined Heat and Power (CHP), is a high energy generation process that directly helps in producing electricity and at the same time captures usable heat from different single fuel resources such as coal, biomass, natural gas. As compared to the traditional methods of generating power, which discard generated heat as waste, CHP helps in utilizing this heat for various applications such as heating and cooling applications, directly improving the overall efficiency and reducing any kind of emission. The market consists of industry that involves the manufacturing, installation and maintenance of various CHP systems. This market consists of a wider range of stakeholders, which includes technology providers, energy service companies and engineering firms. CHP systems are effectively used for a wider range of applications, directly ranging from large-scale industrial facilities and district heating networks to smaller-scale residential and commercial buildings. This flexibility, together with increasing concerns about energy security, climate change, and rising energy costs, has driven the adoption of CHP solutions worldwide.
MARKET HIGHLIGHTS
Combined Heat and Power Market is anticipated to reach USD 54 billion, growing at a CAGR of 6.4% during the forecast period due to demand for better energy efficiency, reduce greenhouse gas emissions, and provide reliable power supply. Combined Heat and Power (CHP) equipment are effectively used to generate heat and power at the same time more effectively and conveniently, they are available with different technological concepts such as Gas Turbine, Combined Cycle, Steam Turbine, Reciprocating Engine, Fuel Cell, Microturbine, Others, which all are working towards the same tasks. CHPs are generally fuelled and powered with the help of Coal, Natural Gas, Biomass, Oil and Others, while being available in different capacities such as Up to 10MW, 10-150MW, 151-300 MW, Above 300 MW. CHPs are used conveniently in different types of settings such as Residential, Commercial and Industrial.
Combined Heat and Power Market Segments:
- By Fuel Type
- Coal
- Natural Gas
- Biomass
- Oil
- Others
- By Component
- Gas Turbine
- Combined Cycle
- Steam Turbine
- Reciprocating Engine
- Fuel Cell
- Microturbine
- Others
- By End User
- Residential
- Commercial
- Industrial
- By Capacity
- Up to 10MW
- 10-150MW
- 151-300 MW
- Above 300 MW
Growth Drivers
Improved Focus And Demand For Energy Efficient Solutions Has Facilitated Market Growth
Rising Focus On Sustainability Is Shifting The Market Dynamics Towards Positive Trajectory
Restraint
Complex Nature Of CHP Projects Acts As A Challenging Restraint For The Market Dynamics
Key Players
- General Electric Company
- Siemens AG
- Doosan Corporation
- Caterpillar Inc.
- Wärtsilä Corporation
- Mitsubishi Hitachi Power Systems
- ABB Group
- MAN Energy Solutions
- Veolia Environment S.A.
- Cummins Inc.
- BDR Thermea Group
- Capstone Turbine Corporation
- 2G Energy AG
- Tecogen Inc.
- Yanmar Co. Ltd.
- Other Prominent Players (Company Overview, Business Strategy, Key Product Offerings, Financial Performance, Key Performance Indicators, Risk Analysis, Recent Development, Regional Presence, SWOT Analysis)
- North America Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAG.R – United States and Canada
- Latin America Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – Mexico, Argentina, Brazil and Rest of Latin America
- Europe Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – United Kingdom, France, Germany, Italy, Spain, Belgium, Hungary, Luxembourg, Netherlands, Poland, NORDIC, Russia, Turkey and Rest of Europe
- Asia Pacific Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – India, China, South Korea, Japan, Malaysia, Indonesia, New Zealand, Australia and Rest of APAC
- Middle East and Africa Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – North Africa, Israel, GCC, South Africa and Rest of MENA
- Qualitative and quantitative analysis of the market based on segmentation involving both economic as well as non-economic factors
- Provision of market value (USD Billion) data for each segment and sub-segment
- Indicates the region and segment that is expected to witness the fastest growth as well as to dominate the market
- Analysis by geography highlighting the consumption of the product/service in the region as well as indicating the factors that are affecting the market within each region
- Competitive landscape which incorporates the market ranking of the major players, along with new service/product launches, partnerships, business expansions, and acquisitions in the past five years of companies profiled
- Extensive company profiles comprising of company overview, company insights, product benchmarking, and SWOT analysis for the major market players
- The current as well as the future market outlook of the industry with respect to recent developments which involve growth opportunities and drivers as well as challenges and restraints of both emerging as well as developed regions
- Includes in-depth analysis of the market of various perspectives through Porter’s five forces analysis
- Provides insight into the market through Value Chain
- Market dynamics scenario, along with growth opportunities of the market in the years to come
- 3-month post-sales analyst support.
Table of Contents
530 Pages
- 1.Executive Summary
- 1.1. Regional Market Share
- 1.2.Business Trends
- 1.3. Combined Heat and Power Market: COVID-19 Outbreak
- 1.4. Regional Trends
- 1.5. Segmentation Snapshot
- 2. Research Methodology
- 2.1.Research Objective
- 2.2. Research Approach
- 2.3. Data Sourcing and Methodology
- 2.4.Primary Research
- 2.5.Secondary Research
- 2.5.1.Paid Sources
- 2.5.2. Public Sources
- 2.6. Market Size Estimation and Data Triangulation
- 3. Market Characteristics
- 3.1.Market Definition
- 3.2.Combined Heat and Power Market: COVID-19 Impact
- 3.3. Key Segmentations
- 3.4.Key Developments
- 3.5.Allied Industry Data
- 4.Combined Heat and Power Market – Industry Insights
- 4.1. Industry Segmentation
- 4.2.COVID-19 overview on world economy
- 4.3.Industry ecosystem Channel analysis
- 4.4.Innovation & Sustainability
- 5. Macroeconomic Indicators
- 6. Recent Developments
- 7. Market Dynamics
- 7.1.Introduction
- 7.2. Growth Drivers
- 7.3. Market Opportunities
- 7.4.Market Restraints
- 7.5. Market Trends
- 8.Risk Analysis
- 9. Market Analysis
- 9.1.Porters Five Forces
- 9.2. PEST Analysis
- 9.2.1.Political
- 9.2.2. Economic
- 9.2.3. Social
- 9.2.4. Technological
- 10.Combined Heat and Power Market
- 10.1.Overview
- 10.2. Historical Analysis (2019-2022)
- 10.2.1. Market Size, Y-o-Y Growth (%) and Market Forecast
- 11. Combined Heat and Power Market Size & Forecast 2024A-2034F
- 11.1. Overview
- 11.2.Key Findings
- 11.3.Market Segmentation
- 11.3.1.By Fuel Type
- 11.3.1.1. Coal
- 11.3.1.1.1.By Value (USD Million) 2024-2034F
- 11.3.1.1.2. Market Share (%) 2024-2034F
- 11.3.1.1.3. Y-o-Y Growth (%) 2024-2034F
- 11.3.1.2.Natural Gas
- 11.3.1.2.1. By Value (USD Million) 2024-2034F
- 11.3.1.2.2.Market Share (%) 2024-2034F
- 11.3.1.2.3.Y-o-Y Growth (%) 2024-2034
- 11.3.1.3.Biomass
- 11.3.1.3.1. By Value (USD Million) 2024-2034F
- 11.3.1.3.2.Market Share (%) 2024-2034F
- 11.3.1.3.3.Y-o-Y Growth (%) 2024-2034F
- 11.3.1.4.Oil
- 11.3.1.4.1. By Value (USD Million) 2024-2034F
- 11.3.1.4.2.Market Share (%) 2024-2034F
- 11.3.1.4.3.Y-o-Y Growth (%) 2024-2034F
- 11.3.1.5.Others
- 11.3.1.5.1. By Value (USD Million) 2024-2034F
- 11.3.1.5.2.Market Share (%) 2024-2034F
- 11.3.1.5.3.Y-o-Y Growth (%) 2024-2034F
- 11.3.2. By Technology
- 11.3.2.1.Gas Turbine
- 11.3.2.1.1. By Value (USD Million) 2024-2034F
- 11.3.2.1.2.Market Share (%) 2024-2034F
- 11.3.2.1.3.Y-o-Y Growth (%) 2024-2034F
- 11.3.2.2. Combined Cycle
- 11.3.2.2.1.By Value (USD Million) 2024-2034F
- 11.3.2.2.2. Market Share (%) 2024-2034F
- 11.3.2.2.3. Y-o-Y Growth (%) 2024-2034F
- 11.3.2.3. Steam Turbine
- 11.3.2.3.1.By Value (USD Million) 2024-2034F
- 11.3.2.3.2. Market Share (%) 2024-2034F
- 11.3.2.3.3. Y-o-Y Growth (%) 2024-2034F
- 11.3.2.4. Reciprocating Engine
- 11.3.2.4.1.By Value (USD Million) 2024-2034F
- 11.3.2.4.2. Market Share (%) 2024-2034F
- 11.3.2.4.3. Y-o-Y Growth (%) 2024-2034F
- 11.3.2.5.Fuel Cell
- 11.3.2.5.1.By Value (USD Million) 2024-2034F
- 11.3.2.5.2. Market Share (%) 2024-2034F
- 11.3.2.5.3. Y-o-Y Growth (%) 2024-2034F
- 11.3.2.6.Microturbine
- 11.3.2.6.1.By Value (USD Million) 2024-2034F
- 11.3.2.6.2. Market Share (%) 2024-2034F
- 11.3.2.6.3. Y-o-Y Growth (%) 2024-2034F
- 11.3.2.7. Others
- 11.3.2.7.1.By Value (USD Million) 2024-2034F
- 11.3.2.7.2. Market Share (%) 2024-2034F
- 11.3.2.7.3. Y-o-Y Growth (%) 2024-2034F
- 11.3.3.By End User
- 11.3.3.1.Residential
- 11.3.3.1.1. By Value (USD Million) 2024-2034F
- 11.3.3.1.2.Market Share (%) 2024-2034F
- 11.3.3.1.3.Y-o-Y Growth (%) 2024-2034F
- 11.3.3.2. Commercial
- 11.3.3.2.1.By Value (USD Million) 2024-2034F
- 11.3.3.2.2. Market Share (%) 2024-2034F
- 11.3.3.2.3. Y-o-Y Growth (%) 2024-2034F
- 11.3.3.3.Industrial
- 11.3.3.3.1.By Value (USD Million) 2024-2034F
- 11.3.3.3.2. Market Share (%) 2024-2034F
- 11.3.3.3.3. Y-o-Y Growth (%) 2024-2034F
- 11.3.4.By Capacity
- 11.3.4.1.Up to 10MW
- 11.3.4.1.1. By Value (USD Million) 2024-2034F
- 11.3.4.1.2.Market Share (%) 2024-2034F
- 11.3.4.1.3.Y-o-Y Growth (%) 2024-2034F
- 11.3.4.2. 10-150MW
- 11.3.4.2.1.By Value (USD Million) 2024-2034F
- 11.3.4.2.2. Market Share (%) 2024-2034F
- 11.3.4.2.3. Y-o-Y Growth (%) 2024-2034F
- 11.3.4.3.151-300 MW
- 11.3.4.3.1.By Value (USD Million) 2024-2034F
- 11.3.4.3.2. Market Share (%) 2024-2034F
- 11.3.4.3.3. Y-o-Y Growth (%) 2024-2034F
- 11.3.4.4.Above 300 MW
- 11.3.4.4.1.By Value (USD Million) 2024-2034F
- 11.3.4.4.2. Market Share (%) 2024-2034F
- 11.3.4.4.3. Y-o-Y Growth (%) 2024-2034F
- 12.North America Combined Heat and Power Market Size & Forecast 2024A-2034F
- 12.1.Overview
- 12.2. Key Findings
- 12.3. Market Segmentation
- 12.3.1. By Fuel Type
- 12.3.2.By Technology
- 12.3.3.By End User
- 12.3.4. By Capacity
- 12.4. Country
- 12.4.1. United States
- 12.4.2. Canada
- 13.Europe Combined Heat and Power Market Size & Forecast 2024A-2034F
- 13.1.Overview
- 13.2. Key Findings
- 13.3. Market Segmentation
- 13.3.1.By Fuel Type
- 13.3.2.By Technology
- 13.3.3.By End User
- 13.3.4. By Capacity
- 13.4.Country
- 13.4.1.Germany
- 13.4.2. United Kingdom
- 13.4.3. France
- 13.4.4. Italy
- 13.4.5. Spain
- 13.4.6. Russia
- 13.4.7. Rest of Europe (BENELUX, NORDIC, Hungary, Turkey & Poland)
- 14.Asia-Pacific Combined Heat and Power Market Size & Forecast 2024A-2034F
- 14.1. Overview
- 14.2. Key Findings
- 14.3.Market Segmentation
- 14.3.1.By Fuel Type
- 14.3.2. By Technology
- 14.3.3. By End User
- 14.3.4. By Capacity
- 14.4. Country
- 14.4.1.India
- 14.4.2. China
- 14.4.3. South Korea
- 14.4.4.Japan
- 14.4.5.Rest of APAC
- 15.Middle East and Africa Combined Heat and Power Market Size & Forecast 2024A-2034F
- 15.1.Overview
- 15.2. Key Findings
- 15.3. Market Segmentation
- 15.3.1.By Fuel Type
- 15.3.2.By Technology
- 15.3.3.By End User
- 15.3.4. By Capacity
- 15.4.Country
- 15.4.1. Israel
- 15.4.2. GCC
- 15.4.3. North Africa
- 15.4.4.South Africa
- 15.4.5. Rest of Middle East and Africa
- 16. Latin America Combined Heat and Power Market Size & Forecast 2024A-2034F
- 16.1.Overview
- 16.2. Key Findings
- 16.3. Market Segmentation
- 16.3.1. By Fuel Type
- 16.3.2.By Technology
- 16.3.3.By End User
- 16.3.4. By Capacity
- 16.4.Country
- 16.4.1. Mexico
- 16.4.2. Brazil
- 16.4.3. Rest of Latin America
- 17. Competitive Landscape
- 17.1.Company market share, 2023
- 17.2. Key player overview
- 17.3. Key stakeholders
- 18. Company Profiles
- 18.1. General Electric Company
- 18.1.1.Company Overview
- 18.1.2.Financial Overview
- 18.1.3.Key Product; Analysis
- 18.1.4.Company Assessment
- 18.1.4.1.Product Portfolio
- 18.1.4.2.Key Clients
- 18.1.4.3. Market Share
- 18.1.4.4. Recent News & Development (Last 3 Yrs.)
- 18.1.4.5. Executive Team
- 18.2.Siemens AG
- 18.3.Doosan Corporation
- 18.4.Caterpillar Inc.
- 18.5.Wärtsilä Corporation
- 18.6.Mitsubishi Hitachi Power Systems
- 18.7.ABB Group
- 18.8.MAN Energy Solutions
- 18.9.Veolia Environment S.A.
- 18.10. Cummins Inc.
- 18.11. BDR Thermea Group
- 18.12.Capstone Turbine Corporation
- 18.13.2G Energy AG
- 18.14.Tecogen Inc.
- 18.15.Yanmar Co. Ltd.
- 18.16.Other Prominent Players
- 19. Appendix
- 20.Consultant Recommendation
Pricing
Currency Rates
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