December 13, 2021 11:00 ET | Source: Fairfield Consultancy Services OPC Pvt Ltd Fairfield Consultancy Services OPC Pvt Ltd

London, December 13, 2021 (Global News Agency)-As countries continue to focus on creating greener energy solutions, the global combined heat and power (CHP) market is expected to grow. According to data from Fairfield Market Research, it is estimated that the global combined heat and power market will reach US$26.9 billion in 2026 and US$19.1 billion in 2020. The market is expected to achieve a compound annual growth rate of 6.2% during the forecast year from 2021 to 2026. Traditional energy solutions are being replaced by new solutions. The CHP system uses waste heat that can be used for uninterruptible power supplies to generate energy. As emission control has become a hot topic in countries around the world, this premise has given the market a whole new opportunity.

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Focus on reducing emissions to promote the global combined heat and power market As policy makers focus on providing subsidies for the use of assembly equipment, global demand for combined heat and power is expected to soar in the next five years. As the world strives to solve energy problems, the combined heat and power system has attracted attention. The combined heat and power system can save energy that is usually wasted in the process of thermal power generation, and then collect these energy in the assembly plant for heating and cooling purposes in the urban landscape. Therefore, they reduce emissions in many ways. In addition, because CHP systems use biomass or natural gas as fuel, they are praised as more environmentally friendly solutions that can create a better tomorrow.

Natural gas-fueled cogeneration will lead the market. According to the report, the global cogeneration market will be dominated by the natural gas sector. Compared with coal, natural gas is affordable and has less impact on the environment, so it is widely used in commercial and residential CHP solutions. It is expected that the demand for natural gas from cogeneration in the next few years will soar because of its easy availability and better flexibility, which provides greater opportunities for factories to increase production capacity. In addition, countries such as Russia, China and the United States have been growing their preference for natural gas. With the increase of cogeneration installations in these countries, the use of natural gas will continue to increase. Therefore, higher affordability, higher efficiency and lower emissions will become the main driving forces to promote the use of natural gas in cogeneration.

Europe will dominate the global combined heat and power market. Normally, the cold weather in Europe is expected to be a major factor in the growth of installations of combined heat and power plants in the region. It is expected that countries such as Finland and the United Kingdom will promote the installation of congregation equipment that can be used for heat and electricity purposes. In addition, the tax incentives provided by the German and Danish governments for congregation equipment will provide much-needed impetus to the district cogeneration market.

The report shows that as achieving grid stability becomes more and more important, the North American combined heat and power market will also flourish in the next few years. During the forecast period, investing in smart and micro grids to strengthen energy distribution will bode well for the regional market.

Some of the major players operating in the global cogeneration market are Tecogen Inc., Siemens AG, Veolia, GE, ABB Group, Cummins, GE, MAN Energy Solutions SE, Capstone Green Energy Corporation, Clarke Energy, Wartsila, And Generac Power Systems, Inc.

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1.1. Global combined heat and power (CHP) market overview

2.4. Porter's five forces analysis and PEST analysis

3. 2018-2026 price trend analysis and future projects

4. 2018-2026 Global Combined Heat and Power (CHP) Market Outlook

4.1. Global combined heat and power (CHP) market outlook, by fuel, capacity (GW) and value (millions of dollars), 2018-2026

4.2. Global combined heat and power (CHP) market outlook, by technology, capacity (GW) and value (millions of dollars), 2018-2026

4.3. Global combined heat and power (CHP) market outlook, by region, capacity (GW) and value (millions of dollars), 2018-2026

5. North American combined heat and power (CHP) market outlook, 2018-2026

5.1. North American combined heat and power (CHP) market outlook, by fuel, capacity (GW) and value (millions of dollars), 2018-2026

5.2. North American combined heat and power (CHP) market outlook, by technology, capacity (GW) and value (millions of dollars), 2018-2026

5.3. North American combined heat and power (CHP) market outlook, by country, capacity (GW) and value (millions of dollars), 2018-2026

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