Cogeneration Equipment Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2019-2024
The global cogeneration equipment market is expected to grow at a CAGR of 4% during 2019-2024. Cogeneration or combined heat and power (CHP) equipment is used to simultaneously produce thermal and electrical energy from a single fuel source. These fuel sources can be natural gas, biomass, wood, coal, waste heat and oil. Cogeneration equipment includes gas and steam turbines, electric generators and heat recovery systems that provide power to equipment and machines such as fans, pumps, refrigerators, dehumidifiers and steamers. This equipment works more efficiently and has a smaller carbon footprint than other conventional systems. For instance, in a rice mill that requires mechanical energy for milling and heat for paddy drying, a cogeneration system can use waste products such as rice husk in place of fuel to produce the needed energy output simultaneously, thereby significantly reducing fuel consumption.
The growing energy demand across the globe is the key factor driving the market growth. The frequent occurrence of power outages and increasing power shortages have initiated the development process of systems that are a consistent, uninterrupted and sustainable source of power generation and supply. Furthermore, widespread adoption of micro-CHP systems in industrial, residential and small and medium enterprise (SME) sectors coupled with the decreasing prices of natural gas owing to its abundant availability has positively influenced the demand for this equipment. The market is also receiving a boost due to increasing emphasis by governments of both developed and emerging nations on the production of clean, renewable and efficient energy. Various technological innovations are also catalyzing the market growth. For instance, the introduction of Tri- and Quattro-power generation systems has enabled the simultaneous production of three and more forms of energy, which assists in a better and more effective way of energy conversion.
IMARC Group’s latest report provides a deep insight into the global cogeneration equipment market covering all its essential aspects. This ranges from macro overview of the market to micro details of the industry performance, recent trends, key market drivers and challenges, SWOT analysis, Porter’s five forces analysis, value chain analysis, etc. This report is a must-read for entrepreneurs, investors, researchers, consultants, business strategists, and all those who have any kind of stake or are planning to foray into the global cogeneration equipment market in any manner.
Historical, Current and Future Market Trends
Market Breakup by Fuel:
Market Breakup by Capacity:
Up to 30 MW
31MW -60 MW
61 MW- 100 MW
Market Breakup by Technology:
Combined Cycle Gas Turbine
Market Breakup by Application:
Market Breakup by Region:
Middle East and Africa
The report has also analysed the competitive landscape of the market with some of the key players being Kawasaki Heavy Industries Ltd, Bosh Thermotechnology Limited, Innovative Steam Technologies, Clarke Energy, Mitsubishi Heavy Industries Ltd., Foster Wheeler AG, ANDRITZ Energy & Environment GmbH, Siemens AG, 2G Energy Inc., ABB Group, Aegis Energy Services, Inc., BDR Thermea, Baxi Group, Capstone Turbine Corporation, Rolls Royce Pl, etc
Key Questions Answered in This Report:
How has the global cogeneration equipment market performed so far and how will it perform in the coming years?
What are the key regional markets in the global cogeneration equipment industry?
What is the breakup of the market based on the fuel?
What is the breakup of the market based on the capacity?
What is the breakup of the market based on the application?
What is the breakup of the market based on the technology?
What are the various stages in the value chain of the global cogeneration equipment industry?
What are the key driving factors and challenges in the global cogeneration equipment industry?
What is the structure of the global cogeneration equipment industry and who are the key players?
What is the degree of competition in the global cogeneration equipment industry?
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