SAN FRANCISCO, October 12, 2015 /PRNewswire/ --
The global combined heat and power (CHP) installation
market is expected to reach USD 10.31
billion, according to a new report by Grand View Research,
Inc. Shift in preference towards replacing conventional energy
systems on account of operational cost and uninterrupted utility
supply is expected to drive market growth. Increasing energy demand
from industrial applications, such as chemical, refining,
pharmaceuticals, paper, pulp, cement, and sugar, is also expected
have a positive influence on market growth. Increasing demand for
space heating and lighting applications in offices, retail malls,
hospitals, and universities has also prompted CHP installation for
commercial applications. Initial high installation cost coupled
with longer payback periods is expected to pose challenges to
industry participants.
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Browse full research report with TOC on
"Combined Heat & Power (CHP) Installation Market
Analysis By Product (Large Scale, Small & Micro-Scale), By Fuel
(Natural Gas, Coal, Biomass), By Technology (Combined Cycle, Steam
Turbine, Combustion/Gas Turbine, Reciprocating Engine), By
Application (Residential, Commercial, Industrial) And Segment
Forecasts To 2022" at:
http://www.grandviewresearch.com/industry-analysis/combined-heat-power-installation-market
Natural gas based fuel systems dominated the overall market and
accounted for over 65% of the total volume in 2014. Recent decline
in natural gas prices on account of discovery of unconventional
natural gas reserves is expected to drive this segment over the
forecast period. Coal-based systems are expected to witness
moderate growth rates with an estimated CAGR of 2.6% from 2015 to
2022.
Further key findings from the report suggest:
- Global CHP installation was 411.6 GW in 2014 and is expected to
grow at a CAGR of 3.8% from 2015 to 2022
- Combined cycle was the most dominant technology and accounted
for over 50% of total installations in 2014. These systems are
widely used for industrial applications. Reciprocating engines are
expected to witness significant growth rates with an estimated CAGR
of 7.6% from 2015 to 2022.
- Large-scale system was the leading product segment and
accounted for over 80% of installations. Small and micro-scale
product-based systems are expected to witness higher growth rates
of 8.2% from 2015 to 2022 owing to increasing scope in residential
and commercial applications.
- Industrial application dominated the overall market with
installation share estimated at 84.4% in 2014. Residential sector
is expected to witness higher growth rates of 4.2% from 2015 to
2022 owing to growing energy due to population expansion.
- Europe emerged as the leading
regional market and accounted for over 45% of global industry in
2014. Asia Pacific is anticipated
to witness significant growth rate of 4.9% from 2015 to 2022.
Presence of key manufacturing industries in China, India,
Japan, and South Korea is expected to drive the regional
market.
- Moderately consolidated market consists of manufactures and
domestic resellers and distributors. Key industry participants
include Mitsubishi Power Systems Americas Inc., Siemens Energy,
General Electric Energy, and E.ON Group. Other prominent players
include ClearEdge Power, Elite Energy Systems LLC, Aegis Energy
Services Inc., BDR Thermea Group, Dantherm Power, Ener-G Group,
Caterpillar, Alstom, and Infinia Corporation.
Grand View Research has segmented the CHP installation market on
the basis of product, fuel, technology, application, and
region.
- Combined Heat & Power (CHP) Installation Product Outlook
(Volume, GW; Revenue, USD Billion, 2012 - 2022)
- Large scale
- Small & Micro-scale
- Combined Heat & Power (CHP) Installation Fuel Outlook
(Volume, GW; Revenue, USD Billion, 2012 - 2022)
- Natural gas
- Coal
- Biomass
- Others
- Combined Heat & Power (CHP) Installation Technology
Outlook (Volume, GW; Revenue, USD Billion, 2012 - 2022)
- Combined cycle
- Steam turbine
- Combustion/gas turbine
- Reciprocating engine
- Others
- Combined Heat & Power (CHP) Installation Application
Outlook (Volume, GW; Revenue, USD Billion, 2012 - 2022)
- Residential
- Commercial
- Industrial
- Combined Heat & Power (CHP) Installation Regional
Outlook (Volume GW; Revenue, USD Billion, 2012 - 2022)
- North America
- Europe
- Russia
- Germany
- France
- UK
- Italy
- Spain
- Netherlands
- Poland
- Others
- Asia Pacific
- China
- India
- Japan
- Korea
- Taiwan
- RoW
Browse related reports by Grand View Research:
- Incinerators Market -
http://www.grandviewresearch.com/industry-analysis/incinerators-market
- Microturbines Market -
http://www.grandviewresearch.com/industry-analysis/microturbines-market
- Alkaline Fuel Cells Market -
http://www.grandviewresearch.com/industry-analysis/alkaline-fuel-cells-market
- Energy Harvesting Market -
http://www.grandviewresearch.com/industry-analysis/energy-harvesting-market
About Grand View Research
Grand View Research, Inc. is a U.S. based market research and
consulting company, registered in the State of California and headquartered in
San Francisco. The company
provides syndicated research reports, customized research reports,
and consulting services. To help clients make informed business
decisions, we offer market intelligence studies ensuring relevant
and fact-based research across a range of industries, from
technology to chemicals, materials and healthcare.
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Grand View Research, Inc
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