Global Combined Heat and Power (CHP) Market Was Valued at US$19.1 Bn in 2020 and is Anticipated to be Worth US$26.9 Bn in 2026

LONDON, Dec. 13, 2021 (GLOBE NEWSWIRE) -- The global combined heat and power (CHP) market is slated to witness a rise as nations remain focussed on creating greener energy solutions. According to Fairfield Market Research, the global CHP market is expected to be worth US$26.9 Bn in 2026 as compared to US$19.1 Bn in 2020. The market is poised to register a CAGR of 6.2% between the forecast years of 2021 and 2026 as the conventional energy solutions are being eclipsed by newer ones. CHP systems produce energy using wasted thermal energy that can be used for uninterrupted power supply. This premise has given the market a brand new opportunity as emission control becomes a hot topic for countries across the globe.

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Focus to Reduce Emissions to Boost Global Combined Heat and Power Market
The global demand for combined heat and power is expected to soar in the coming five years as policymakers focus on offering subsidies for use of congregation equipment. The spotlight on CHP systems comes as the world grapples to solve the energy problem. CHP systems offer to save energy that is usually wasted in thermal power processes, which is then collected in congregation plants and used for heating and cooling purposes in the urban landscape. Thus, in many ways, they reduce emissions. Furthermore, as CHP systems use biomass or natural gas as fuel, they are being lauded as greener solutions for a better tomorrow.

Natural Gas-fuelled CHP to Lead the Market
According to the report, the global CHP market will be dominated by the natural gas segment. Natural gas is widely used across commercial and residential CHP solutions as it is affordable and has a lower environmental impact in comparison to coal. The demand for natural gas in CHP is expected to soar in the coming years as it is easily available and offers better flexibility, which provides higher chances of increased capacity for plants. Additionally, the preference for natural gas has been growing in countries such as Russia, China, and the U.S. As CHP installations increase in these countries, usage of natural gas will remain on the rise. Thus, higher affordability, improved efficiency, and low emissions will be the primary drivers promoting the use of natural gas in CHP.

Europe to Show Dominance in Global CHP Market
Typically, the cold weather in Europe is expected to be the leading factor for growing installations of CHP plants across the region. Countries such as Finland and UK are expected to drive the installation of congregation equipment, which can be used for thermal and electrical purposes. Furthermore, tax incentives offered by governments of Germany and Denmark for congregation equipment will give the regional CHP market the much-needed impetus.

The report indicates that the North America CHP market will also flourish in the coming years as achieving grid stability gains importance. Investments in smart and microgrids to enhance energy distribution will bode well for the regional market during the forecast period.

Some of the key players operating in the global combined heat and power market are Tecogen Inc., Siemens AG, Veolia, GE, ABB Group, Cummins Inc., GE, MAN Energy Solutions SE, Capstone Green Energy Corporation, Clarke Energy, Wartsila, and Generac Power Systems, Inc.

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REPORT SCOPE & SEGMENTATION:

Detailed Table of Content

1. Executive Summary

1.1. Global Combined Heat & Power (CHP) Market Snapshot

1.2. Future Projections

1.3. Key Market Trends

1.4. Analyst Recommendations

2. Market Overview

2.1. Market Definitions and Segmentations

2.2. Market Dynamics

2.3. Value Chain Analysis

2.4. Porter’s Five Forces Analysis and PEST Analysis

2.5. COVID-19 Impact

3. Price Trends Analysis and Future Projects, 2018 - 2026

3.1. Key Highlights

3.2. by Fuel/by Technology

3.3. By Region

4. Global Combined Heat & Power (CHP) Market Outlook, 2018 - 2026

4.1. Global Combined Heat & Power (CHP) Market Outlook, by Fuel, Capacity (GW) and Value (US$ Mn), 2018 - 2026

4.2. Global Combined Heat & Power (CHP) Market Outlook, by Technology, Capacity (GW) and Value (US$ Mn), 2018 - 2026

4.3. Global Combined Heat & Power (CHP) Market Outlook, by Region, Capacity (GW) and Value (US$ Mn), 2018 - 2026

5. North America Combined Heat & Power (CHP) Market Outlook, 2018 - 2026

5.1. North America Combined Heat & Power (CHP) Market Outlook, by Fuel, Capacity (GW) and Value (US$ Mn), 2018 - 2026

5.2. North America Combined Heat & Power (CHP) Market Outlook, by Technology, Capacity (GW) and Value (US$ Mn), 2018 - 2026

5.3. North America Combined Heat & Power (CHP) Market Outlook, by Country, Capacity (GW) and Value (US$ Mn), 2018 - 2026

TOC Continued..!!!

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