The global combined
heat and power (CHP) installation market is expected to
reach USD 10.31 billion, according to a new report by Grand View Research, Inc.
Shift in preference towards replacing conventional energy systems on account of
operational cost and uninterrupted utility supply is expected to drive market
growth. Increasing energy demand from industrial applications, such as
chemical, refining, pharmaceuticals, paper, pulp, cement, and sugar, is also
expected have a positive influence on market growth. Increasing demand for
space heating and lighting applications in offices, retail malls, hospitals,
and universities has also prompted CHP installation for commercial
applications. Initial high installation cost coupled with longer payback
periods is expected to pose challenges to industry participants.
Natural gas based
fuel systems dominated the overall market and accounted for over 65% of the
total volume in 2014. Recent decline in natural gas prices on account of
discovery of unconventional natural gas reserves is expected to drive this
segment over the forecast period. Coal-based systems are expected to witness
moderate growth rates with an estimated CAGR of 2.6% from 2015 to 2022.
Access Research Report of Combined Heat &
Power Installation Market @:
Further
key findings from the report suggest:
· Global CHP installation was 411.6 GW in
2014 and is expected to grow at a CAGR of 3.8% from 2015 to 2022
· Combined cycle was the most dominant
technology and accounted for over 50% of total installations in 2014. These
systems are widely used for industrial applications. Reciprocating engines are
expected to witness significant growth rates with an estimated CAGR of 7.6%
from 2015 to 2022.
· Large-scale system was the leading product
segment and accounted for over 80% of installations. Small and micro-scale
product-based systems are expected to witness higher growth rates of 8.2% from
2015 to 2022 owing to increasing scope in residential and commercial
applications.
· Industrial application dominated the
overall market with installation share estimated at 84.4% in 2014. Residential
sector is expected to witness higher growth rates of 4.2% from 2015 to 2022
owing to growing energy due to population expansion.
· Europe emerged as the leading regional
market and accounted for over 45% of global industry in 2014. Asia Pacific is
anticipated to witness significant growth rate of 4.9% from 2015 to 2022.
Presence of key manufacturing industries in China, India, Japan, and South
Korea is expected to drive the regional market.
· Moderately consolidated market consists of
manufactures and domestic resellers and distributors. Key industry participants
include Mitsubishi Power Systems Americas Inc., Siemens Energy, General
Electric Energy, and E.ON Group. Other prominent players include ClearEdge
Power, Elite Energy Systems LLC, Aegis Energy Services Inc., BDR Thermea Group,
Dantherm Power, Ener-G Group, Caterpillar, Alstom, and Infinia Corporation.
Browse more reports of this category by
Grand View Research at: www.grandviewresearch.com/industry/power-generation-and-storage
Grand View
Research has segmented the CHP installation market on the basis of product,
fuel, technology, application, and region.
Combined
Heat & Power (CHP) Installation Product Outlook (Volume, GW; Revenue, USD
Billion, 2012 - 2022)
·
Large scale
·
Small & Micro-scale
Combined
Heat & Power (CHP) Installation Fuel Outlook (Volume, GW; Revenue, USD
Billion, 2012 - 2022)
·
Natural gas
·
Coal
·
Biomass
·
Others
Combined
Heat & Power (CHP) Installation Technology Outlook (Volume, GW; Revenue,
USD Billion, 2012 - 2022)
·
Combined cycle
·
Steam turbine
·
Combustion/gas turbine
·
Reciprocating engine
·
Others
Combined
Heat & Power (CHP) Installation Application Outlook (Volume, GW; Revenue, USD
Billion, 2012 - 2022)
·
Residential
·
Commercial
·
Industrial
Combined
Heat & Power (CHP) Installation Regional Outlook (Volume GW; Revenue, USD
Billion, 2012 - 2022)
·
North America
o
U.S.
o
Canada
o
Mexico
·
Europe
o
Russia
o
Germany
o
France
o
UK
o
Italy
o
Spain
o
Netherlands
o
Poland
o
Others
·
Asia Pacific
o
China
o
India
o
Japan
o
Korea
o
Taiwan
·
RoW
Access Press Release of
Combined Heat & Power Installation Market @: www.grandviewresearch.com/press-release/global-combined-heat-power-installation-market
About Grand View Research
Grand View Research, Inc. is a
U.S. based market research and consulting company, registered in the State of
California and headquartered in San Francisco. The company provides
syndicated research reports, customized research reports, and consulting
services. To help clients make informed business decisions, we offer market
intelligence studies ensuring relevant and fact-based research across a range
of industries, from technology to chemicals, materials and healthcare.
For More Information: www.grandviewresearch.com
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