A recent report published by Infinium Global Research on cogeneration equipment market provides in-depth analysis of segments and sub-segments in the global as well as regional cogeneration equipment market. The study also highlights the impact of drivers, restraints, and macro indicators on the global and regional cogeneration equipment market over the short term as well as long term. The report is a comprehensive presentation of trends, forecast and dollar values of the global cogeneration equipment market. According to the report, the global cogeneration equipment market is projected to grow at a healthy CAGR over the forecast period of 2019-2025.
Cogeneration has attracted extensive attention in recent years because of its potential for increased energy efficiency, and therefore, lower energy costs. Cogeneration is a technique for producing heat and electricity in one process that can save a considerable amount of energy. It provides a wide range of technologies for application in various domains of economic activities. Cogeneration equipment is used to simultaneously produce thermal and electrical energy from a single fuel source. Cogeneration equipment contains gas and steam turbines, electric generators and heat recovery systems that deliver power to equipment and machines such as fans, pumps, refrigerators, dehumidifiers, and steamers. Cogeneration equipment works more efficiently and has a smaller carbon footprint than other conventional systems.
The increasing demand for electricity coupled with growing application in renewable energy is expected to drive the cogeneration equipment market over the forecasted period. The reduction of fossil fuels has imposed the adoption of alternative techniques for energy generation such as cogeneration. Furthermore, increasing government initiatives for energy conservation and the need to address climatic changes have directed to the acceptance of cogeneration are also driving the growth of the cogeneration equipment market. The rising number of renewable energy projects and plenty availability of natural gas in some parts of the world are also fueling the growth of cogeneration equipment market. However, high initial investment and sophisticated technological requisites hamper the growth of the market. Moreover, the expansion of distributed power generation in North America and the Asia Pacific regions are generating opportunities for the market growth in the forecasted period.
Geographically, Asia Pacific dominates the cogeneration equipment market due to rising combined heat and power (CHP) systems demand from the industrial sector in countries such as China, India, and South Korea. Rising power sector in India to meet rapidly increasing energy demand is anticipated to drive demand in the Asia Pacific region. Europe is the second largest market of cogeneration equipment market owing to wide natural gas availability in countries such as Germany and Russia. The collective carbon emission targets and stringent government regulations for improved efficiency in power generation are driving the growth of the market in Europe.
The report on global cogeneration equipment market covers segments such as fuel, capacity, technology, and applications. On the basis of fuel, the sub-markets include natural gas, biomass, coal, and other fuels. On the basis of capacity, the sub-markets include up to 30 MW, 31 MW -60 MW, and 61 MW- 100 MW. On the basis of technology, the sub-markets include reciprocating engine, steam turbine, combined cycle gas turbine, gas turbine, and other technologies. On the basis of applications, the sub-markets include commercial, industrial, and residential.
The report provides profiles of the companies in the market such as Mitsubishi Heavy Industries Ltd., Clarke Energy, BDR Thermea, Siemens AG, Innovate Steam Technologies, 2G Energy, ABB, Aegis Energy Services Inc., Foster Wheeler AG, ANDRITZ Energy & Environment GmbH, 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 cogeneration equipment 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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