A recent report published by Infinium Global Research on micro combined heat and power market provides 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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