Increasing
trend of carbon credit by reducing carbon emissions, expanding chemical and petrochemical
industries, and growing demand for decentralized power generation to fuel global
combined heat & power system market through 2024
According to a report published by
TechSci Research on “Global Combined Heat and Power
System Market By Capacity, By Prime Mover, By End Use, By
Region, Competition, Forecast & Opportunities, 2024”, global combined heat and power system
market is projected to grow at a decent pace during the forecast period. The
growth of the market is majorly attributable to the growing demand for
decentralized power, increasing demand for cogeneration from the industrial
sector and stringent regulations for carbon emissions in many countries.
Moreover, various initiatives aimed at the promotion of biogas and non-bagasse
cogeneration systems by the governments of countries like India is further
bolstering the growth of the combined heat and power system market.
Browse market data Tables and Figures
spread through 110 Pages and an in-depth TOC on " Global Combined Heat and Power System Market"
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By capacity, the global combined heat and power system market is categorized into below 5 MW, 5.1 MW – 10 MW, 10.1 MW – 150 MW, 150.1 MW – 300 MW and Above 300 MW. Among the capacities, above 300 MW category is predicted to be the largest due to rise of natural gas fired power plants in Asia-Pacific and North America. As most of the coal-fired plants are being phased out, these plants are being replaced with natural gas fired power plants for power generation.
By region, the global combined heat and
power system market is categorized into Asia-Pacific, Europe, North America,
South America and Middle East & Africa. Among the regions, Europe is anticipated
to witness a healthy growth rate throughout the forecast period. Factors like increasing
stringent environment emission norms, carbon saving targets, and focus on
shifting away from power generation from coal have increased the uptake of CHP
projects across Europe.
“Globally, the combined heat and power system market is predicted to witness decent growth over the course of next five years. The growth of the market is mainly due to the improved energy efficiency, reduced managing cost and low carbon dioxide emission from combined heat and power system. The market trends of combined heat and power generation system have been attractive over the past few years and investments in this market can prove very fruitful.” said, Mr. Karan Chechi Research Director with TechSci Research, a research based global management consulting firm.
“Global Combined Heat and Power System Market By
Capacity, By Prime Mover, By End Use, By Region, Competition, Forecast &
Opportunities, 2024”
has evaluated the future growth potential of the global combined heat and power
system market and provides statistics and information on market size, structure
and future market growth. The report intends to provide cutting-edge market
intelligence and help decision makers take sound investment decisions. Besides,
the report also identifies and analyzes the emerging trends along with
essential drivers, challenges and opportunities in global combined heat and
power system market.
About
TechSci Research
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market research firm publishing premium market research reports. Serving 700 global
clients with more than 600 premium market research studies, TechSci Research is
serving clients across 11 different industrial verticals. TechSci Research
specializes in research-based consulting assignments in high growth and
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more than 100 fulltime Analysts and Consultants employing innovative research
solutions and tracking global and country specific high growth markets helps
TechSci clients to lead rather than follow market trends.
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