Combined Heat & Power Installation Market

Combined Heat & Power Installation Market Revenue Drivers, Growth Opportunities, Value Chain Analysis and Forecast Research Report, 2027

“The global combined heat and power (CHP) installation market size was accounted for USD 9.4 billion in 2019.

The market is projected to witness a 3.1% CAGR over the forecast duration, 2020 to 2027.”

The global combined heat and power installation market research report provides complete insights on industry scope, trends, regional estimates, key application, competitive landscape and financial performance of prominent players. It also offers ready data-driven answers to several industry-level questions. This study enables numerous opportunities for the market players to invest in research and development.

Market Overview: The global combined heat and power installation market size is likely to account for USD 12.0 billion by 2027, as predicted by Million Insights. It is estimated to expand with 3.1% CAGR from 2020 to 2027. The growing focus in replacing traditional form of energy with a new, efficient and cleaner form of energy is projected to augment the market growth. In addition, rising demand for energy from the industrial sector is estimated to drive market growth.

Impact of COVID-19: The outbreak of novel coronavirus has adversely affected the global combined heat and power installation market growth. The pandemic outbreak has led to the closure of several industries such as chemical, food & beverage, pulp, paper, manufacturing, and others. These industries are the major end-users of largescale combined heat and power installation systems. The closure of these industries has adversely affected the demand for power consumption. In addition, key players in the market reduced their expenditure on research and development owing to lack of demand, thereby, considerably affecting the market growth.

Key Companies & Market Share Insights: CHP installation market is characterized by its moderately consolidated nature. Key players are focusing on building Recent Developments to introduce innovative products in the market. The introduction of new

products helps companies in gaining a competitive edge over others. Technical advancements, partnerships, and increasing research & development activities are further anticipated to bolster the market growth. For example, GE signed an agreement with GreenTech installation of CHP in the Russian food and beverage, chemical and glass industries. Major players operating in the market are Centrica, Cummins Inc., General Electric, Caterpillar, Wartsila, E.ON SE, Clarke Energy, Tecogen Inc., and Siemens among others.

Request free sample to get a complete analysis of the market players @ https://www.millioninsights.com/industry-reports/global-combined-heat-power-installationmarket/request-sample Further key findings from the report suggest:    

The large-scale category held 7.5 billion by value in 2019.

Asia Pacific is estimated to grow considerably in the market with Japan is projected to hold maximum share in the region.

Natural gas category held more than 65.0% share in the CHP installation market owing to the increasing focus on the use of cleaner fuel.

North America is expected to register moderate growth over the forecast duration, 2020 to 2027.

Type Outlook:  

Large Scale Small Scale

Fuel Outlook:   

Natural Gas Coal Biomass

In 2019, natural gas fuel type held more than 65% of share in the market and the segment is likely to continue its domination over the forecast duration. Natural gases not only provide cleaner energy but they are readily available as well. On the other hand, coal-based system owing to its high calorific value and cost-effectiveness continue to be relevant and expected to register 2.3% CAGR over the forecast duration.

Technology Outlook:    

Combined Cycle Steam Turbine Combustion/Gas Turbine Reciprocating Engine

Regional Outlook: Europe was the largest shareholders in the market in 2019. The region alone held over half of the share in the market. Stringent regulatory guidelines imposed by government bodies is the primary factor attributing to regional growth. On the other hand, Asia Pacific held more than 27% share in the market and the region is predicted to register a CAGR of 4.3% over the next seven years.

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