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Micro CHP Market Size

Report ID: GMI1476
Published Date: Jun 2022
Report Format: PDF

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Micro CHP Market Size

Micro CHP Market size exceeded USD 1 billion in 2021 and is projected to expand at over 9% CAGR from 2022 to 2030. Rising infrastructural developments owing to escalating economic development primarily across emerging nations will spur the market growth.

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A paradigm shift toward the application of sustainable and efficient heat generation units across residential & commercial establishments will drive the business trend. Moreover, rising concerns toward increasing carbon emissions along with growing focus on waste management has led to the development of enhanced & efficient capacity cogeneration units which in turn will stimulate the industry dynamics.

The COVID-19 outbreak has marginally impacted the micro combined heat and power industry, in terms of reduced workforce and limited industrial operations. However, a decrement in the number of infected cases resulted in the resumption of industrial activities. Furthermore, continuous private and public sector investments for sustainable generation resources across emerging economies will positively lead to product adoption.

Micro CHP Market Report Attributes
Report Attribute	Details
Base Year:	2021
Micro CHP Market Size in 2021:	1.0 Billion (USD)
Forecast Period:	2022 to 2030
Forecast Period 2022 to 2030 CAGR:	9%
2030 Value Projection:	2.0 Billion (USD)
Historical Data for:	2018 to 2021
No. of Pages:	410
Tables, Charts & Figures:	778
Segments covered:	Capacity, Fuel, Prime Mover, Application
Growth Drivers:	North America Stringent emission norms Reducing dependency on conventional coal fired plant Europe Growth in the renewable energy sector Increasing demand for space heating Asia Pacific Increasing industrialization and urbanization Increasing clean energy demand
Pitfalls & Challenges:	High upfront Cost

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Authors: Ankit Gupta, Riya Gupta

Frequently Asked Questions (FAQ) :

The market size of micro CHP was valued at more than USD 1 billion in 2021 and will record a CAGR of over 9% during the forecast period.

Internal combustion engine-based micro CHP industry size is projected to observe over 8% CAGR through 2030 due to the growing deployment of efficient cogeneration units across the residential and commercial spaces.

Asia Pacific micro CHP industry share will cross USD 2 billion by 2030 due to the rising investments across the public & private sectors to enhance the on-site energy systems in the region.

Axiom Energy Group, LLC, Micro Turbine Technology B.V., EC POWER A/S, YANMAR HOLDINGS Co., 2G Energy AG, Viessmann, and Vaillant Group, among others, are the major players in this market.