Global Off-grid CHP Market - Growth, Trends, and Forecast (2018 - 2023)
The global off-grid combined heat & power market is expected to witness considerable growth during the forecast period. The major factor driving the market is the supportive government CHP policies and the rise in energy efficiency targets.
Rising Environmental Concerns
Governments in different regions are promoting cogeneration technology through various long-term policies and financial incentives. Strong commitment from these governments, for the development of CHP, has led to various R&D initiatives and CHP installations, which will drive the market in the upcoming period. In North America, various policy-support measures and regulations were introduced, such as American Recovery and Reinvestment Act, Power Plant Improvement Initiative, and Clean Energy Standard Act to encourage and promote off-grid CHP technology in the region. Additionally, a number of EU Member States have introduced laws or other support mechanisms to promote new off-grid CHP. Such measures include: legal provisions prescribing a mandatory CHP oriented energy audit in the case of new installations or major reconstructions above a given capacity (e.g., 5 MW in the Czech Republic).
Traditionally, off-grid combined heat and power plants have been owned and operated by industrial and institutional owners, who enjoy the efficiency benefits of onsite CHP. However, utilities across the world are opting for off-grid CHP technology for its multiple benefits, including cost-effective generation asset, system reliability and resiliency, environmental compliance pathway, among others.
Asia-Pacific is the Most Dominating Region
Governments in the Asia-Pacific region are promoting cogeneration technology through various long-term policies and financial incentives. Strong commitment from the governments of India, China and Indonesia, for the development of off-grid CHP, has led to various R&D initiatives and CHP installations. This in turn is expected to drive market for off-grid to a great extent during the forecast period.
Key Developments in the Market
June 2017: GE Oil & Gas signed an agreement for the provision of two of its new NovaLT12 gas turbines for cogeneration applications (CHP) to two paper mills in Tuscany, Italy, owned by Lucart Group, an Italian multinational, leader in the production of monolucid papers, tissue, and airlaid products in Europe.
The major players include - BDR Thermea Group, Bosch Thermotechnology, Ceres Power Holdings PLC, GE Power and Mitsubishi Hitachi Power Systems Ltd. amongst others.
Reason to Purchase this Report
Current and future off-grid CHP market outlook in the developed and emerging markets
Analyzing various perspectives of the market with the help of Porter’s five forces analysis
The segment that is expected to dominate the market
Regions that are expected to witness fastest growth during the forecast period
Identify the latest developments, market shares and strategies employed by the major market players.
3 months analyst support along with the Market Estimate sheet (in excel).
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