Selbyville, Delaware, Aug. 10, 2020 (GLOBE NEWSWIRE) --
The North America CHP Market is anticipated to surpass USD 800 million by 2026, as reported in the latest study by Global Market Insights, Inc. Ongoing project announcements coupled with rising investments toward advanced heat distribution networks to provide continuous and reliable energy supply will complement industry growth. In addition, favourable government initiatives toward installation of CHP plants along with net energy metering schemes including incentives, subsidies and tax rebates will positively stimulate the business outlook.
The industrial application will witness an upsurge owing to rising energy demand along with ongoing investments toward smart energy infrastructure. Improved efficiency and low installation cost followed by high reliability and long product life cycle of CHP units will propel the product demand. In addition, increasing captive power generation demand along with rising R&D investments by leading manufacturers toward sustainable power production will drive industry growth. Favourable government norms toward CHP-inclined environment regulations and net metering policies are dominant measures enhancing the product adoption.
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5 MW to 20 MW capacity is predicted to grow on account of growing applicability of combined heat and power systems across commercial and industrial establishments. Refurbishment & revamping of conventional power plants coupled with growing decentralized energy generation demand will further stimulate the North America CHP market statistics. In addition, ongoing technological advancement toward cost-effective, compact and smart systems will positively influence the product adoption. For instance, in 2020 Cummins announced the launch of C25G gas generator series. The product is designed to deliver higher fuel efficiency with the power density of 500kW and 580kW.
Some major findings of the North America CHP market report include:
- The North America CHP demand are surging owing to increasing energy utilization across industrial sector along with rising adoption of district heating networks.
- Growing customer inclination toward low carbon emission fuels including natural gas & biomass along with increasing smart infrastructural investments by public and private partners will propel the market outlook.
- Major players operating across the North America CHP market includes Aegis Energy, Siemens, General Electric, ABB, ENER-G Rudox, Kawasaki Heavy Industries, BDR Thermea Group, etc.
- Favorable regulatory policies toward adoption of advanced technologies in line with stringent norms to minimize increasing carbon footprint will further complement the industry landscape.
Browse key industry insights spread across 179 pages with 204 market data tables & 32 figures & charts from the report, “North America CHP Market By End Use (Commercial [Educational Institution, District Energy, Office Building, Government/Military, Utility], Industrial [Chemical, Petroleum Refining, Food, Paper, Primary Metals]), Fuel (Natural Gas, Coal, Biomass), Capacity (5 MW – 20 MW, > 20 MW), Technology (Combined Cycle, Steam Turbine, Gas Turbine , Reciprocating Engine), Industry Analysis Report, Country Outlook, Price Trends, Competitive Market Share & Forecast, 2020 – 2026” in detail along with the table of contents:
https://www.gminsights.com/industry-analysis/north-america-chp-market
Canada combined heat & power market exceeded USD 300 million in 2019. Ongoing investments toward cogeneration project to fulfill the energy demand of metal, oil & gas and chemical, industries will fuel the product demand. For instance, in 2019, Stelco and DTE Energy announced the construction of natural gas fired combined cycle CHP power plants with capacity ranging over 60 MW across the Lake Erie facility. This construction will enhance the regional energy generation capacity followed by replacement of conventional power plants. Moreover, ongoing inclination toward the deployment of natural gas fuelled systems along with installation of advanced gas turbines and cogeneration plant technologies will propel the product adoption.
The ongoing impact of corona virus across North America region specifically in the U.S. may stretch the operations to the second half of 2020. However, respective government measures to resume the operations across major industries, manufacturing facilities and infrastructure projects will complement the North America CHP market growth.
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Browse Related Reports:
Micro CHP Industry Analysis By Capacity (< 2kW, 2 ≤ 10kW, > 10 ≤ 50kW), Fuel (Natural Gas & LPG, Coal, Renewable Resources, Oil), Prime Mover (Stirling Engine, Internal Combustion Engine, Fuel Cell), Application (Residential {Space Heating/Cooling, Water Heating, Cooking, Lighting}, Commercial {Educational Institute, Office Building, Healthcare Building}), Industry Analysis Report, Regional Outlook, Competitive Market Share & Forecast, 2020 – 2026
https://www.gminsights.com/industry-analysis/micro-combined-heat-and-power-market
About Global Market Insights
Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider, offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy, and biotechnology.