Combined Heat Power Market Scope
Combined heat power is a cogeneration system which produces heat engine and power station in order to generate electricity. It is also known as CHP. In most of the combined heat, power applications, the power to heat ratio is around 0.30. Various advantages of using combined heat powder such as Increasing thermal efficiency from 45% to 85%, Reducing dependency on non-renewable fossil fuels, reducing greenhouse gas emissions by capable of 50% by requiring fewer fuel inputs, plummeting transmission and distribution losses owing to the co-location of the energy system and others. Combined heat power is receiving enormous support from various governments worldwide and numerous R&D initiatives & CHP installations are likely to propel combined heat power market demand over the forecast period.
According to AMA, the Global Combined Heat Power market is expected to see growth rate of 5.6%The market is fragmented with numerous players focusing on technique and quality of the product due to which the global combined heat powder market can witness an upsurge in the forecast period. Research Analyst at AMA estimates that Germany Manufacturers will contribute to the maximum growth of Global Combined Heat Power market throughout the predicted period.
General Electric (United States), Siemens AG (Germany),, Veolia (France),, 2G Energy (Germany),, FuelCell Energy (United States), Wartsila (Finland),, Caterpillar Energy Solutions (Germany), MAN Diesel & Turbo (Germany),, AB Holding (Italy) and Capstone (United States) are some of the key players that are part of study coverage. Additionally, the Manufacturers which are also part of the research are Clarke Energy (United Kingdom), and Mitsubishi Hitachi Power Systems, Ltd. (Japan).
Segmentation Overview
The study have segmented the market of Global Combined Heat Power market by Type (By technology, Gas Turbine, Steam Turbine, Micro CHP, Fuel Cells, Spark Ignition Reciprocating Engine, By product, Large Scale, Medium and Small Scale, By fuel, Natural Gas, Coal, Biomass and others), by Application (Industries and Residential) and Region with country level break-up.
On the basis of geography, the market of Combined Heat Power has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico).
Influencing Trend:
Technology Advancement in Combined Heat power Products
Market Growth Drivers:
Increasing Demand for Energy Efficiency in Industries, Rising Use of Natural Gas for Power Generation and Government Programs and Incentives to Promote CHP
Challenges:
Rise of Renewable Power Generation and Lack of Consumer Awareness Regarding Combined Heat powder benefits
Restraints:
High Installation and Maintenance Costs, Uncertainty in the economic situation and Volatility in Gas Prices
Opportunities:
Growth of Distributed Power Generation in North America and Asia Pacific, Emerging Technologies Such as Fuel Cell-Based Micro-CHP and Regulatory Policies and Initiatives by Government Worldwide
Market Leaders and their Expansionary Development Strategies
On February 2011, the General Electric (United States) Company had acquired Dresser Industries (United States), which manufactures combined heat and products. This acquisition will benefit in creating economies of scale which in turn generates good cost efficiency results.
On May 2018, the Siemens AG (Germany) Company had launched a new gas engine E-series with the power output of 2 MW. It includes both the SGE-100EM for the 60-Hz market and the SGE-86EM for the 50-Hz market. In addition, it helps the recovering heat typically wasted in a conventional power plant, CHP technology reduces energy costs and carbon emissions.
On September 2018, the Department of Energy (United States) had announced that it will receive up to USD 10 million towards the research and development of technologies. It allows small-to-midsize manufacturers to use combined heat and power systems in order to provide services to the electric grid
Key Target Audience
Manufacturers of Combined Heat Power Products, Suppliers of Combined Heat Power, Wholesalers, Distributors and Retailers of Combined Heat Power, Research and Development (R&D) Companies, Research Organization, Federal Agencies and Others
About Approach
The research aims to propose a patent-based approach in searching for potential technology partners as a supporting tool for enabling open innovation. The study also proposes a systematic searching process of technology partners as a
preliminary step to select the emerging and key players that are involved in implementing market estimations. While patent analysis is employed to overcome the aforementioned data- and process-related limitations, as expenses occurred in that technology allows us to estimate the market size by evolving segments as target market from the total available market.