A recent report published by Infinium Global Research on micro
combined heat and power market provides an in-depth analysis of segments and
sub-segments in the global as well as regional micro combined heat and power
market. The study also highlights the impact of drivers, restraints, and macro
indicators on the global and regional micro combined heat and power market over
the short term as well as long term. The report is a comprehensive presentation
of trends, forecast and dollar values of global micro combined heat and power
market. According to the report, the global micro combined heat and power
market is projected to grow at a CAGR of 21.4% over the forecast period of
2019-2025.
The rising price of fossil fuels, the rising need for the power
supply reliability and security and the rising demand for energy-efficient
technologies are tending to favor the application of small power generation
solutions. An excellent approach to these solutions is to install micro
combined heat and power systems that can be organized to operate under normal
conditions to supply local power needs but with grid back up. Micro combined
heat and power systems are a form of cogeneration technology appropriate for
domestic and community buildings, commercial formations and industrial
facilities, as well as local heat networks. Micro combined heat and power
systems provide a systematic and complete review of the technological and
practical developments of small and micro CHP systems.
The increasing energy demand across the world is the major driving
factor of the micro CHP market. Furthermore, factors such as lower energy
operating costs, CHP-friendly environmental regulations, resiliency initiatives,
federal and state policies and incentives, utility support, and project
replicability are the other driving factors of the market. Increasing demand
for reliable technology for electricity and heat generation across residential
and commercial sectors will boost the global micro CHP market. Stringent
government regulation to control CO2 gases into the environment is estimated to
drive demand over the forecast period. However, increasing energy prices and
stringent rules imposed by the government in the production of CHP systems are
restraining the market growth. Moreover, the development of distributed power
generation in North America and the Asia-Pacific is expected to provide growth
opportunities to the market players.
Geographically, Asia-Pacific dominates the global micro CHP market
owing to the increasing demand for clean power, favorable government
regulations, and government initiatives to increase the adoption of micro-CHP
in the region. Japan holds a large market share of the global micro CHP market
due to large technological advancement.
The report on global micro combined heat and power market covers
segments such as capacity, fuel, prime movers, and applications. On the basis
of capacity, the sub-markets include <2 KW, >2<10 KW, and >10<50
KW. On the basis of fuel, the sub-markets include natural gas & LPG, coal,
renewable resources, oil, and other fuels. On the basis of prime movers, the
sub-markets include gas turbine, micro turbine, reciprocating engine, steam
turbine, and fuel cell. On the basis of applications, the sub-markets include
commercial, and residential.
The report provides profiles of the companies in the market such
as Cogen Microsystems, Climate Energy LLC, Ceres power holding PLC, BDR thermea Group, Yanmar Co., Ltd., Valliant group, 2G Energy, The Viessmann Group,
General Electric, Siemens AG, and other companies.
The report provides deep insights into the demand forecasts,
market trends, and micro and macro indicators. In addition, this report
provides insights into the factors that are driving and restraining the growth
in this market. Moreover, The IGR-Growth Matrix analysis given in the report
brings an insight into the investment areas that existing or new market players
can consider. The report provides insights into the market using analytical
tools such as Porter's five forces analysis and DRO analysis of micro combined
heat and power market. Moreover, the study highlights current market trends and
provides forecast from 2019-2025. We also have highlighted future trends in the
market that will affect the demand during the forecast period. Moreover, the
competitive analysis given in each regional market brings an insight into the
market share of the leading players.
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