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Combined Heat and Power Market Analysis

Report ID: GMI1537
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Published Date: July 2024
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Report Format: PDF

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Combined Heat and Power Market Analysis

Combined Heat and Power Market Size, By Fuel, 2022 – 2032 (USD Billion)

The CHP industry is experiencing substantial growth driven by the utilization of natural gas as a primary fuel. The natural gas-based CHP market is projected to exceed USD 16 billion by 2032. Key drivers of this growth include the increasing focus on energy efficiency, the need for cost-effective power generation, and stringent government regulations aimed at reducing carbon emissions.
 

The abundant availability and lower prices of natural gas, along with advancements in CHP technology, further contribute to market expansion. Additionally, the growing demand for reliable and resilient power supply, especially in commercial and industrial sectors, is propelling the adoption of natural gas-based CHP systems.
 

Combined Heat and Power Market Revenue Share, By End Use, 2023

The combined heat and power (CHP) market in the industrial sector is projected to achieve a compound annual growth rate (CAGR) exceeding 6% by 2032. This growth is driven by the increasing need for energy efficiency and the reduction of greenhouse gas emissions within industrial operations. Rising energy costs and the emphasis on sustainable energy solutions are prompting industries to adopt CHP systems. Government incentives and supportive policies further encourage the deployment of CHP technologies. Additionally, the reliability and continuous power supply provided by CHP systems enhance their attractiveness in industrial settings, supporting uninterrupted production processes.
 

Europe Combined Heat and Power Market, 2022 – 2032 (USD Billion)

The European combined heat and power market has seen strong growth, with forecasts indicating it will exceed USD 17.5 billion by 2032. This growth is driven by increasing energy efficiency regulations, rising demand for sustainable and decentralized energy solutions, and technological advancements. According to the European Commission, energy efficiency improvements could reduce EU energy consumption by 26% by 2030. Additionally, government incentives and policies promoting the adoption of CHP systems, along with the need to reduce greenhouse gas emissions, are further boosting the market's expansion. These factors collectively contribute to the robust development of the market in Europe.
 

The U.S. combined heat and power (CHP) industry is driven by increasing energy efficiency mandates, rising demand for resilient and decentralized energy systems, and advancements in CHP technology. Additionally, government incentives, the push for reducing greenhouse gas emissions, and the need for cost-effective energy solutions are propelling the market's growth and adoption across various industries.

Authors: Ankit Gupta, Vishal Saini
Frequently Asked Question(FAQ) :
How big is Europe combined heat & power market?
Europe market is expected to exceed USD 17.5 billion by 2032, led by increasing energy efficiency regulations, rising demand for sustainable and decentralized energy solutions, and technological advancements.
Which companies define the competitive landscape of combined heat & power industry?
What is the size of combined heat & power market?
How will industrial sector influence the demand for combined heat & power solutions?
Combined Heat and Power Market Scope

Report Content

Chapter 1   Methodology & Scope

1.1    Market definitions

1.2    Base estimates & calculations

1.3    Forecast calculation

1.4    Data sources

1.4.1    Primary

1.4.2    Secondary

1.4.2.1    Paid

1.4.2.2    Public

Chapter 2   Executive Summary

2.1    Industry 3600 synopsis, 2021 - 2032

Chapter 3   Industry Insights

3.1    Industry ecosystem analysis

3.2    Regulatory landscape

3.3    Industry impact forces

3.3.1    Growth drivers

3.3.2    Industry pitfalls & challenges

3.4    Growth potential analysis

3.5    Porter's analysis

3.5.1    Bargaining power of suppliers

3.5.2    Bargaining power of buyers

3.5.3    Threat of new entrants

3.5.4    Threat of substitutes

3.6    PESTEL analysis

Chapter 4   Competitive landscape, 2023

4.1    Strategic dashboard

4.2    Innovation & technology landscape

Chapter 5   Market Size and Forecast, By Fuel, 2021 – 2032 (MW & USD Million)

5.1    Key trends

5.2    Natural gas

5.3    Coal

5.4    Biomass

5.5    Others

Chapter 6   Market Size and Forecast, By End Use, 2021 – 2032 (MW & USD Million)

6.1    Key trends

6.2    Residential

6.2.1    Space heating/cooling

6.2.2    Water heating

6.2.3    Cooking

6.2.4    Lighting & others

6.3    Commercial

6.3.1    Educational institution

6.3.2    District energy

6.3.3    Office building

6.3.4    Government/military

6.3.5    Others

6.4    Industrial

6.4.1    Chemical

6.4.2    Petroleum refining

6.4.3    Food

6.4.4    Paper

6.4.5    Primary metals

6.4.6    Others

Chapter 7   Market Size and Forecast, By Capacity, 2021 – 2032 (MW & USD Million)

7.1    Key trends

7.2    1 kW - 0.5 MW

7.3    0.5 MW - 5 MW

7.4    Above 5 MW

Chapter 8   Market Size and Forecast, By Technology, 2021 – 2032 (MW & USD Million)

8.1    Key trends

8.2    Combined cycle

8.3    Steam turbine

8.4    Gas turbine

8.5    Reciprocating engine

8.6    Others

Chapter 9   Market Size and Forecast, By Region, 2021 – 2032 (MW & USD Million)

9.1    Key trends

9.2    North America

9.2.1    U.S.

9.2.2    Canada

9.2.3    Mexico

9.3    Europe

9.3.1    UK

9.3.2    Finland

9.3.3    Russia

9.3.4    Germany

9.3.5    Denmark

9.3.6    Sweden

9.4    Asia Pacific

9.4.1    China

9.4.2    Japan

9.4.3    South Korea

9.4.4    India

9.5    Rest of World

9.5.1    South Africa

9.5.2    Brazil

9.5.3    Saudi Arabia

Chapter 10   Company Profiles

10.1    ABB

10.2    BDR Thermea Group

10.3    Bosch Industriekessel GmbH

10.4    Caterpillar

10.5    Centrica Business Solutions

10.6    Centrax Gas Turbines

10.7    Cummins, Inc.

10.8    Daikin

10.9    Dalkia Aegis, EDF Group

10.10    Edina

10.11    FuelCell Energy, Inc.

10.12    General Electric

10.13    Kawasaki Heavy Industries, Ltd.

10.14    MAN Energy Solutions SE

10.15    Mitsubishi Power

10.16    MWM

10.17    Siemens

10.18    Veolia

10.19    Viessmann

10.20    Wartsila

10.21    Yanmar Holdings CO., Ltd.

10.22    2G Energy AG

Authors: Ankit Gupta, Vishal Saini
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Premium Report Details

Base Year: 2023

Companies covered: 22

Tables & Figures: 20

Countries covered: 16

Pages: 110

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