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Micro Combined Heat and Power Market Size, Share, Growth and Global Industry Analysis By Type & Application, Regional Insights and Forecast to 2024-2032

Publisher Fortune Business Insights Pvt. Ltd.
Published Nov 01, 2024
Length 293 Pages
SKU # FOB19302898

Description

Micro Combined Heat and Power Market Size, Share, Growth and Global Industry Analysis By Type & Application, Regional Insights and Forecast to 2024-2032



Growth Factors of Micro Combined Heat and Power Market

The micro combined heat and power market size was valued at USD 3.62 billion in 2021, and the market is now projected to grow from USD 3.92 billion in 2022 to USD 8.16 billion by 2029, exhibiting a CAGR of 11.0% during the forecast period of 2022-2029.

The COVID-19 outbreak reduced product production and supply since many factories were closed and there was not enough workforce. Due to these restrictions, industries faced significant losses in uptime. However, lower COVID cases led to a rise in industrial activities. Post-pandemic, multiplied investments in renewable energy and net-zero carbon emission desires are expected to enhance micro combined heat and power market growth.

Government projects and technological improvements inside the electricity zone propel the micro combined heat and power market share. This technology efficaciously produces heat and energy, enhancing fuel combustion. It is extensively implemented in sectors of residences, resorts, hospitals and factories. Countries such as Japan, Germany, South Korea and the U.K. promote micro CHP for its monetary and environmental advantages. These efforts are expected to boost market adoption.

Additionally, power-saving advancements in the region, including micro CHP structures, are key to decreasing CO2 emissions from buildings, which account for 28% of global emissions. These structures effectively offer power without transmission loss and lower prices as compared to grid energy. Yanmar’s North American CHP gadgets achieve as much as 87% fuel efficiency, substantially higher than the grid of 33%. As governments and businesses push to decrease greenhouse gas emissions, micro CHP systems are anticipated to see broader applications.

Comprehensive Analysis of Micro Combined Heat and Power Market

The micro combined heat and power market and power & energy industry is rising at an exponential rate due to its market segmentation. This market expansion effectively provides a detailed regional assessments considering the dominant supply and demand forces that impact the power & energy industry. These segmentations are methodically segregated by capacity, by prime mover, by fuel and by application. The capacity includes, Up to 2 kW, 2-10 kW, and 10-50 kW. The prime mover includes, IC Engine, Stirling Engine, Fuel Cell and Others. The fuel includes, Natural Gas, Hydrogen, Renewable Resources and Others. The application includes, Residential and Commercial.

Asia Pacific region has the largest market share for micro combined heat and power and is anticipated that it will continue to dominate the market within the forecast period. Japan dominates the market, however, emerging markets such as China and South Korea help in the market growth. These countries focus on energy efficiency by producing heat and power simultaneously, ensuring a reliable energy supply for the future.

The top players in the market play a crucial role in the power & energy industry assuring industrial prospectus growth and setting market standards. These players include, Yanmar (Japan), GE Power (U.S.), Siemens (Germany), Dalkia Aegis, EDF Group (U.S.), 2G Energy AG (Germany), Samad Power (U.K.), Vaillant Group (Germany), Viessmann (Germany), Axiom Energy Group (U.S.), Micro Turbine Technology B.V (Netherlands), Centrica Business Solutions UK & Ireland (U.K.), BDR Thermea Group (Netherlands), M-TriGen, Inc. (U.S.), EC POWER (Denmark), TEDOM a.s. (Czech Republic), Honda Motor Co., Ltd (Japan) and GreenWatt Canada (Canada). These market players provide a level-playing competitive landscape.

In January 2022, Total Energy Systems, a provider of critical energy solutions to the upper Midwest, introduced itself as a licensed distributor for Gridiron onsite power generation systems. Houston-based Gridiron has a range of products including the Power Plant H24 micro combined heat and power unit powered by renewable natural gas, natural gas or propane.

Segmentation Table

Global Micro Combined Heat and Power Market Scope

Study Period 2018-2029

Base Year 2021

Forecast Period 2022-2029

Growth Rate CAGR of 11.0% from 2022 to 2029

Historical Period 2018-2020

Unit Value (USD Billion) and Volume (MW)

Segmentation By Application, By Capacity, By Prime Mover, By Fuel, and By Region

By Application Residential

Commercial

By Capacity Up – 2 KW

2 – 10 KW

10 – 50 KW

By Prime Mover IC Engine

Stirling Engine

Fuel Cell

Others

By Fuel Natural Gas

Hydrogen

Renewable Resources

Others

By Region North America (By Application, By Capacity, By Prime Mover, By Fuel, and By Country)

U.S.

Canada

Europe (By Application, By Capacity, By Prime Mover, By Fuel, and By Country)

U.K.

Germany

France

Italy

Rest of Europe

Asia Pacific (By Application, By Capacity, By Prime Mover, By Fuel, and By Country)

China

Japan

South Korea

Rest of Asia Pacific

Rest of World (By Application, By Capacity, By Prime Mover, and By Fuel)


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Table of Contents

293 Pages
1. Introduction
1.1. Research Scope
1.2. Market Segmentation
1.3. Research Methodology
1.4. Definitions and Assumptions
2. Executive Summary
3. Market Dynamics
3.1. Market Drivers
3.2. Market Restraints
3.3. Market Opportunities
4. Key Insights
4.1. Key Emerging Trends – For Major Countries
4.2. Latest Technological Advancement
4.3. Regulatory Landscape
4.4. Porter Five Forces Analysis
5. Qualitative Analysis – Impact of COVID-19
5.1. Impact of COVID-19 on the Micro Combined Heat and Power (CHP) Market
5.2. Steps Taken by the Government to Overcome the Impact
5.3. Key Developments by the Industry Players in Response to COVID-19
5.4. Potential Opportunities and Challenges due to COVID-19 Outbreak
6. Global Micro Combined Heat and Power (CHP) Market Analysis (MW, USD Billion), Insights and Forecast, 2018-2029
6.1. Key Findings / Summary
6.2. Market Analysis, Insights and Forecast – By Capacity
6.2.1. Up to 2 kW
6.2.2. 2 – 10 kW
6.2.3. 10 – 50 kW
6.3. Market Analysis, Insights and Forecast – By Prime Mover
6.3.1. IC Engine
6.3.2. Stirling Engine
6.3.3. Fuel Cell
6.3.4. Others
6.4. Market Analysis, Insights and Forecast – By Fuel
6.4.1. Natural Gas
6.4.2. Hydrogen
6.4.3. Renewable Resources
6.4.4. Others
6.5. Market Analysis, Insights and Forecast – By Application
6.5.1. Residential
6.5.2. Commercial
6.6. Market Analysis, Insights and Forecast – By Region
6.6.1. North America
6.6.2. Europe
6.6.3. Asia Pacific
6.6.4. Rest of the World
7. North America Micro Combined Heat and Power (CHP) Market Analysis (MW, USD Billion), Insights and Forecast, 2018-2029
7.1. Key Findings / Summary
7.2. Market Analysis, Insights and Forecast – By Capacity
7.2.1. Up to 2 kW
7.2.2. 2 – 10 kW
7.2.3. 10 – 50 kW
7.3. Market Analysis, Insights and Forecast – By Prime Mover
7.3.1. IC Engine
7.3.2. Stirling Engine
7.3.3. Fuel Cell
7.3.4. Others
7.4. Market Analysis, Insights and Forecast – By Fuel
7.4.1. Natural Gas
7.4.2. Hydrogen
7.4.3. Renewable Resources
7.4.4. Others
7.5. Market Analysis, Insights and Forecast – By Application
7.5.1. Residential
7.5.2. Commercial
7.6. Market Analysis, Insights and Forecast – By Country
7.6.1. U.S. Market Analysis, Insights and Forecast – By Application
7.6.1.1. Residential
7.6.1.2. Commercial
7.6.2. Canada Market Analysis, Insights and Forecast – By Application
7.6.2.1. Residential
7.6.2.2. Commercial
8. Europe Micro Combined Heat and Power (CHP) Market Analysis (MW, USD Billion), Insights and Forecast, 2018-2029
8.1. Key Findings / Summary
8.2. Market Analysis, Insights and Forecast – By Capacity
8.2.1. Up to 2 kW
8.2.2. 2 – 10 kW
8.2.3. 10 – 50 kW
8.3. Market Analysis, Insights and Forecast – By Prime Mover
8.3.1. IC Engine
8.3.2. Stirling Engine
8.3.3. Fuel Cell
8.3.4. Others
8.4. Market Analysis, Insights and Forecast – By Fuel
8.4.1. Natural Gas
8.4.2. Hydrogen
8.4.3. Renewable Resources
8.4.4. Others
8.5. Market Analysis, Insights and Forecast – By Application
8.5.1. Residential
8.5.2. Commercial
8.6. Market Analysis, Insights and Forecast – By Country
8.6.1. UK Market Analysis, Insights and Forecast – By Application
8.6.1.1. Residential
8.6.1.2. Commercial
8.6.2. Germany Market Analysis, Insights and Forecast – By Application
8.6.2.1. Residential
8.6.2.2. Commercial
8.6.3. Italy Market Analysis, Insights and Forecast – By Application
8.6.3.1. Residential
8.6.3.2. Commercial
8.6.4. France Market Analysis, Insights and Forecast – By Application
8.6.4.1. Residential
8.6.4.2. Commercial
8.6.5. Rest of Europe Market Analysis, Insights and Forecast – By Application
8.6.5.1. Residential
8.6.5.2. Commercial
9. Asia Pacific Micro Combined Heat and Power (CHP) Market Analysis (MW, USD Billion), Insights and Forecast, 2018-2029
9.1. Key Findings / Summary
9.2. Market Analysis, Insights and Forecast – By Capacity
9.2.1. Up to 2 kW
9.2.2. 2 – 10 kW
9.2.3. 10 – 50 kW
9.3. Market Analysis, Insights and Forecast – By Prime Mover
9.3.1. IC Engine
9.3.2. Stirling Engine
9.3.3. Fuel Cell
9.3.4. Others
9.4. Market Analysis, Insights and Forecast – By Fuel
9.4.1. Natural Gas
9.4.2. Hydrogen
9.4.3. Renewable Resources
9.4.4. Others
9.5. Market Analysis, Insights and Forecast – By Application
9.5.1. Residential
9.5.2. Commercial
9.6. Market Analysis, Insights and Forecast – By Country
9.6.1. China Market Analysis, Insights and Forecast – By Application
9.6.1.1. Residential
9.6.1.2. Commercial
9.6.2. Japan Market Analysis, Insights and Forecast – By Application
9.6.2.1. Residential
9.6.2.2. Commercial
9.6.3. South Korea Market Analysis, Insights and Forecast – By Application
9.6.3.1. Residential
9.6.3.2. Commercial
9.6.4. Rest of Asia Pacific Market Analysis, Insights and Forecast – By Application
9.6.4.1. Residential
9.6.4.2. Commercial
10. Rest of the World Micro Combined Heat and Power (CHP) Market Analysis (MW, USD Billion), Insights and Forecast, 2018-2029
10.1. Key Findings / Summary
10.2. Market Analysis, Insights and Forecast – By Capacity
10.2.1. Up to 2 kW
10.2.2. 2 – 10 kW
10.2.3. 10 – 50 kW
10.3. Market Analysis, Insights and Forecast – By Prime Mover
10.3.1. IC Engine
10.3.2. Stirling Engine
10.3.3. Fuel Cell
10.3.4. Others
10.4. Market Analysis, Insights and Forecast – By Fuel
10.4.1. Natural Gas
10.4.2. Hydrogen
10.4.3. Renewable Resources
10.4.4. Others
10.5. Market Analysis, Insights and Forecast – By Application
10.5.1. Residential
10.5.2. Commercial
11. Competitive Analysis
11.1. Company Market Share Analysis, 2021
11.2. Company Profile
11.2.1. Yanmar
11.2.1.1. Business Overview
11.2.1.2. Product & Service Offering
11.2.1.3. Overall Revenue
11.2.1.4. Geographic Presence
11.2.1.5. Recent Development
11.2.2. GE Power
11.2.2.1. Business Overview
11.2.2.2. Product & Service Offering
11.2.2.3. Overall Revenue
11.2.2.4. Geographic Presence
11.2.2.5. Recent Development
11.2.3. Siemens
11.2.3.1. Business Overview
11.2.3.2. Product & Service Offering
11.2.3.3. Overall Revenue
11.2.3.4. Geographic Presence
11.2.3.5. Recent Development
11.2.4. Dalkia Aegis, EDF Group
11.2.4.1. Business Overview
11.2.4.2. Product & Service Offering
11.2.4.3. Overall Revenue
11.2.4.4. Geographic Presence
11.2.4.5. Recent Development
11.2.5. 2G Energy AG
11.2.5.1. Business Overview
11.2.5.2. Product & Service Offering
11.2.5.3. Overall Revenue
11.2.5.4. Geographic Presence
11.2.5.5. Recent Development
11.2.6. Samad Power
11.2.6.1. Business Overview
11.2.6.2. Product & Service Offering
11.2.6.3. Overall Revenue
11.2.6.4. Geographic Presence
11.2.6.5. Recent Development
11.2.7. Vaillant Group
11.2.7.1. Business Overview
11.2.7.2. Product & Service Offering
11.2.7.3. Overall Revenue
11.2.7.4. Geographic Presence
11.2.7.5. Recent Development
11.2.8. Viessmann
11.2.8.1. Business Overview
11.2.8.2. Product & Service Offering
11.2.8.3. Overall Revenue
11.2.8.4. Geographic Presence
11.2.8.5. Recent Development
11.2.9. Axiom Energy Group
11.2.9.1. Business Overview
11.2.9.2. Product & Service Offering
11.2.9.3. Overall Revenue
11.2.9.4. Geographic Presence
11.2.9.5. Recent Development
11.2.10. Micro Turbine Technology B.V.
11.2.10.1. Business Overview
11.2.10.2. Product & Service Offering
11.2.10.3. Overall Revenue
11.2.10.4. Geographic Presence
11.2.10.5. Recent Development
11.2.11. Centrica Business Solutions UK & Ireland
11.2.11.1. Business Overview
11.2.11.2. Product & Service Offering
11.2.11.3. Overall Revenue
11.2.11.4. Geographic Presence
11.2.11.5. Recent Development
11.2.12. BDR Thermea Group
11.2.12.1. Business Overview
11.2.12.2. Product & Service Offering
11.2.12.3. Overall Revenue
11.2.12.4. Geographic Presence
11.2.12.5. Recent Development
11.2.13. M-TriGen, Inc.
11.2.13.1. Business Overview
11.2.13.2. Product & Service Offering
11.2.13.3. Overall Revenue
11.2.13.4. Geographic Presence
11.2.13.5. Recent Development
11.2.14. EC POWER
11.2.14.1. Business Overview
11.2.14.2. Product & Service Offering
11.2.14.3. Overall Revenue
11.2.14.4. Geographic Presence
11.2.14.5. Recent Development
11.2.15. TEDOM a.s.
11.2.15.1. Business Overview
11.2.15.2. Product & Service Offering
11.2.15.3. Overall Revenue
11.2.15.4. Geographic Presence
11.2.15.5. Recent Development
11.2.16. Honda Motor Co., Ltd.
11.2.16.1. Business Overview
11.2.16.2. Product & Service Offering
11.2.16.3. Overall Revenue
11.2.16.4. Geographic Presence
11.2.16.5. Recent Development
11.2.17. GreenWatt Canada
11.2.17.1. Business Overview
11.2.17.2. Product & Service Offering
11.2.17.3. Overall Revenue
11.2.17.4. Geographic Presence
11.2.17.5. Recent Development

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