Micro Combined Heat & Power - Global Market Outlook (2017-2023)
According to Stratistics MRC, the Global Micro Combined Heat & Power Market is accounted for $2.61 billion in 2016 and is expected to reach $7.10 billion by 2023 growing at a CAGR of 15.3% during the forecast period. Factors such as reduction in carbon footprint and favourable government policies are fueling the market growth. However, huge cost and infrastructural hurdles are hampering the market growth. Low cost of natural gas across the globe is a major challenge in the market.
By type, Fuel Cell-Based segment dominated the global market with largest share owing to the focus on renewable power generation and reduction in carbon emissions. By geography, Asia-Pacific is anticipated to account for the largest market share owing to the rapid technological advancements in micro CHP Systems in Japan which comprises to half of the global market share.
Some of the key players in Micro Combined Heat & Power market include Whisper Tech Limited, Honda Power, Vaillant Group, Viessmann Group, Ceres Power Holdings PLC, Solid Power, Ener-G Cogen International, Qnergy, BDR Thermea Group, Dantherm Power, Yanmar Holdings Co. Ltd., Aisin Group and Topsoe Fuel Cell
Regions Covered: • North America US Canada Mexico • Europe Germany France Italy UK Spain Rest of Europe • Asia Pacific Japan China India Australia New Zealand Rest of APAC • Rest of the World Middle East Brazil Argentina South Africa Egypt
What our report offers: - Market share assessments for the regional and country level segments - Market share analysis of the top industry players - Strategic recommendations for the new entrants - Market forecasts for a minimum of 7 years of all the mentioned segments, sub segments and the regional markets - Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations) - Strategic recommendations in key business segments based on the market estimations - Competitive landscaping mapping the key common trends - Company profiling with detailed strategies, financials, and recent developments - Supply chain trends mapping the latest technological advancements