Selbyville, Delaware, April 28, 2020 (GLOBE NEWSWIRE) --
The North America micro CHP market is anticipated to cross USD 8 million by 2026, according to a new research report by Global Market Insights, Inc. Rising demand for captive energy generation along with growing inclination toward smart renewable infrastructure across the region will drive the business outlook.
Natural gas & LPG based North America micro CHP industry is projected to witness growth owing to its applicability across residential and commercial establishments. Favourable government norms and subsidies toward the adoption of micro-CHP plants coupled with ongoing deployment of natural gas fired cogeneration technology will positively sway the market growth. For instance, The U.S. government launched a modified self-generation incentive program in 2019 to increase consumption of renewable fuels including natural gas & biofuel by 50% across fuel blend ratio.
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Fuel cell based North America micro CHP market is anticipated to exceed USD 0.40 Million by 2026. Enhanced reliability and energy efficiency as well as better product lifecycle are some major factors which will complement the product portfolio. For instance, in 2018, BDR Thermea Group launched InnoGen micro CHP system based on Proton Exchange Membrane (PEM) technology, improving the range of micro CHP plants to curb the rising demand of district power systems. Moreover, ongoing technological enhancement to minimize operational and maintenance cost along with enhance product efficiency and flexibility will positively stimulate the product deployment.
Some key finding of North America micro CHP market report includes:
- Micro CHP systems demand is surging across power generation plants owing to high reliability and energy efficiency.
- Increasing investments toward advanced renewable technologies as well as smart infrastructure will propel the industry growth.
- Key players operating across the North America micro CHP industry are 2G Energy AG, General Electric, BDR Thermea and ENER-G Rudox.
- Favorable regulatory norms toward adoption of carbon free micro cogeneration systems will positively influence the product deployment.
- Ongoing technological enhancements across micro CHP prime mover to improve operational performance and minimize installation and maintenance cost will drive the product penetration.
Browse key industry insights spread across 140 pages with 182 market data tables & 30 figures & charts from the report, “North America Micro CHP Market By Capacity (< 2 kW, 2 ≤ 10 kW, > 10 ≤ 50 kW), By Fuel (Natural Gas & LPG, Coal, Renewable Resources, Coal), By Prime Mover (Stirling Engine, Internal Combustion Engine, Fuel Cell), By Application (Residential {Space Heating/Cooling, Water Heating, Cooking, Lighting}, Commercial) Industry Analysis Report, Regional Outlook, Competitive Market Share & Forecast, 2020 – 2026” in detail along with the table of contents:
https://www.gminsights.com/industry-analysis/north-america-micro-chp-market
Canada micro CHP market is anticipated to grow on account of increasing government inclination toward CHP programs to promote the deployment of commercial and residential natural gas micro cogeneration systems. In addition, refurbishment & replacement of fossil fuel based combined heat and power units along with growing customer inclination toward cleaner fuel-based regeneration systems will propel the business scenario. Moreover, ongoing technological advancements to reduce the product cost coupled with improved workability under extreme conditions will further embellish the product adoption.
Increasing demand for decentralized power generation along with adoption of district energy distribution networks will propel the industry outlook. For instance, in 2019 BDR Thermea Group launched hydrogen power-driven boiler utilizing solar and wind power to ignite hydrogen fuel, minimizing GHG emission to 100% extent. In addition, growing applicability of micro CHP units across commercial infrastructure including business buildings and complexes will strengthen the >10 ≤ 50 kW North America micro CHP market.
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Browse Related Reports:
Micro Combined Heat & Power Market By Capacity (< 2kW, 2 ≤ 10kW, > 10 ≤ 50kW), By Fuel (Natural Gas & LPG, Coal, Renewable Resources, Coal), By Prime Mover (Stirling Engine, Internal Combustion Engine, Fuel Cell), By 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.