Combined Heat and Power Market by Capacity (<10 MW, 10-150 MW, 151-300 MW, >300 MW), Prime Mover (Gas Turbine, Steam Turbine, Reciprocating Engine, Fuel Cell, Microturbine, and Others (Stirling Engine System and Combined Cycle)), Fuel(Coal, Natural Gas, Biogas/Biomass, Nuclear, Diesel, and Others (Biodiesel and Geothermal)), End User(Residential, Commercial, Industrial, Utilities), and Region - Global Forecast to 2026
[282 Pages Report] The global Combined Heat and Power (CHP) market is expected to grow from an estimated USD 26.6 billion in 2021 to USD 35.2 billion by 2026, at a CAGR of 5.8% during the forecast period. Software segment is dominating the component type, followed by hardware segment, in the CHP market.
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Impact of COVID-19 on CHP Market
COVID-19 has slowed the growth of the combined heat and power market, as countries were forced to implement lockdowns during the first half of 2020. Strict guidelines were issued by governments and local authorities, and all non-essential operations were halted. This adversely affected the CHP market owing to the suspension of activities of end-users.
In addition, production and supply chain delays were also witnessed during the second quarter which poised a challenge to the CHP market, since CHP systems were still not operating at their full capacity.
CHP Market Dynamics
Driver: Government programs and incentives to promote CHP
Government programs and incentives, particularly in OECD countries such as the US, UK, Germany, Japan, and others, are expected to drive the growth of the combined heat and power market. In 2012, the US passed a new policy for the promotion of CHP for energy efficiency; the then-President of the US signed an executive order for energy efficiency in industries. The order set a target for CHP to hold a 20% share of the total power generation in the US by 2020, up from 8% in 2012. The US federal government and several state governments have doled out incentives and tax rebates for CHP installations. The order directs the US departments of energy, commerce, and agriculture and the Environmental Protection Agency (EPA) to coordinate actions for providing commercial and technical assistance to states for promoting investments in industrial energy efficiency. In February 2018, the US Congress passed a bill to extend a 10% tax incentive for industries implementing CHP in their facilities to promote energy efficiency.
In Europe, countries such as Germany and the UK have taken measures for promoting CHP. Germany is the largest CHP market in Europe, and the market for CHP is mainly driven by government policies and initiatives. Germany implemented its cogeneration policy in 2001, focusing mainly on biomass and natural gas-based on-site CHP plants. In 2016, the country implemented an amendment to the German Cogeneration Act (KWK-G). The amendment defines a volume target of 120 TWh of power generation by CHP plants in Germany by 2025. This would correspond to ~25% share of the total generation in the country. The act grants tax incentives for CHP installations, especially for biomass-based CHP systems, with tax rebates depending on the size of installation.
Restraints: Increased installation and maintenance costs of CHP systems
One of the biggest drawbacks of installing a CHP plant is the high initial capital cost required for installation. In addition to the power generation equipment such as prime mover, generator systems, and others, CHP plants also require additional equipment such as heat exchangers, absorption chillers, boilers, and other equipment. The cost of a conventional CHP plant can be almost 240% more than that of the cost of a power generation plant of the same capacity and prime mover, making it a major restraint for the combined heat and power market. Maintenance costs of CHP systems are also high due to the complex assembly of the system, which includes different components such as prime mover, heat recovery system, and heat and steam pipes. Regular maintenance of all the components is needed to achieve high efficiency of the CHP, which raises the overall maintenance costs.
Challenges: Damage to prime movers due to impurities in biogas fueled CHP plans
One of the major challenges in CHP plants is understanding the significance of gas pretreatment and developing a strategy for it. Biogas-fueled CHP systems have prime movers, such as a gas turbine, a micro gas turbine, a reciprocating engine, or a Stirling engine, and operate by oxidizing methane in a combustion chamber. This generates thermal energy and drives a piston or turbine, and the resulting shaft work is converted to electricity in a generator. Methane is oxidized electrochemically by fuel cells when they operate, and in most cases, methane is the primary fuel in each prime mover. Biogas also has nitrogen (N2) and carbon dioxide (CO2), which generally do not damage the prime mover. However, they dilute the fuel and reduce the performance. Trace impurities such as hydrogen sulfide (H2S), carbon monoxide (CO), and ammonia (NH3) have more adverse effects on the prime mover. Sulfur dioxide (SO2) and sulfuric acid (H2SO4) are formed by the oxidation of H2S, resulting in corrosion and breakdown of the prime mover. In the combustion chamber, siloxanes can be oxidized to form silicon dioxide (SiO2, solid phase), which causes a detrimental effect on the turbine and piston. Even though the prime mover can handle a small amount of these impurities, a higher concentration of impurities reduces the life of CHP to just a few years.
Opportunities: Increased trend of distributed power generation creating huge opportunity for gas turbine-based CHP market
Distributed generation is defined as creating power close to or at the point of its use. Electricity was previously delivered through small power plants with low-voltage DC-based power distribution. Distributed generation can be used for electric supply and mechanical work (providing torque to move objects). Distributed generation systems are defined as stationary or mobile systems with less than 100 MW in capacity. Distributed generation differs from centralized power generation, where much higher capacity generation takes place far away from the point of use, with the plants always stationary. Gas turbines are a vital part of the current suite of distributed power generation technologies, which also include reciprocating engines, solar panels, wind turbines, and fuel cells. The higher efficiency of gas turbines and reliable generation capacity give them an edge over other distributed generation technologies for providing backup power capacity and onsite generation needs. Hence, the rise of distributed power generation represents a major opportunity for the gas turbines market.
Market Trend
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By capacity, the 10-150 MW segment is the largest contributor in the CHP Market in 2020.
The 10–150 MW segment accounted for the largest share of 37.5% of the combined heat and power market in 2020. This segment consists of larger CHP plants mainly with reciprocating engines such as gas and diesel engines as prime movers, particularly used by industrial, commercial, and utilities end users. The demand for diesel power engines in this segment comes from utility-scale diesel power plants, large industrial plants, captive generation, and independent power producers (IPPs).
By prime mover, the gas turbine segment is the largest contributor in the CHP Market in 2020.
The gas turbine segment accounted for the largest share of 32.9% in 2020. A gas turbine is a type of internal combustion (IC) engine where inlet air is compressed and sprayed with fuel. The mixture is thereafter ignited in a combustion chamber and allowed to flow at high temperature and pressure through the turbine. The gaseous mixture passes through the turbine nozzles, which further channelize the kinetic energy of the hot air flow onto the blades. The turbine blades, which are mounted on a rotor, rotate with the impact of the high-velocity air. The rotary motion is used to turn a shaft, which performs tasks such as driving an electric generator. Gas turbines are used for power generation and in the mechanical drives used by oil & gas and other industries.
By fuel, the natural gas segment is the largest contributor in the CHP market in 2020.
The natural gas segment accounted for the largest market share of 53.4% in 2020. Natural gas is mostly used in gas engines for electricity generation, as it burns cleaner and has low carbon emissions compared with other types of fuels. It also emits low levels of nitrogen oxide, sulfur dioxide, and particulate matter. The consumption of natural gas has led to rising concerns over global warming.
By end user, the industrial segment is the largest contributor in the CHP market in 2020.
The industrial segment accounted for the largest share of 41.6% of the global combined heat and power market in 2020. The sector is also the largest consumer of delivered energy; according to BP Energy Outlook, the sector consumes around 50% of the world’s total delivered energy every year. In industrial sectors such as chemicals, oil & gas, pharmaceuticals, and food & beverages, energy is used for a variety of applications, including steam and cogeneration, heating and air conditioning for buildings, and process heating. Countries such as China and India are going through rapid industrialization and have introduced several policies to support industrial growth, including initiatives to ensure adequate power supply. According to the National Bureau of Statistics, China’s fixed-asset investments in 2019 were up by 3.1% in the manufacturing sector, and investments in high-tech manufacturing and services grew by 17.3% in the same year. Industries prefer using heat to produce electricity instead of letting it go waste.
Asia Pacific is expected to account for the largest market size during the forecast period.
Asia Pacific accounted for a 55.7% share of the combined heat and power market in 2020. The countries covered in the region are China, Japan, South Korea, India, Australia, and the Rest of Asia Pacific. The market is expected to grow due to rapid industrialization, urbanization, and economic growth in the region, leading to the installation of new CHP systems in various emerging economies.
The CHP market is expected to grow in countries such as China and India due to infrastructural expansions, ongoing power generation projects, and technological innovations. Investments in large new gas-fired cogeneration plants and large coal-fired plants, along with rising demand for electricity, are expected to drive the growth of the Asia Pacific CHP market over the next five years.
The region is the largest energy consumer globally, with China and India leading the growth in power generation and consumption. CHP has tremendous potential in Asia Pacific, mainly due to the rapid economic growth in China and the transition from coal-based generation to gas-fired power generation.
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|
Report Metric |
Details |
|
Market Size available for years |
2019–2026 |
|
Base year considered |
2020 |
|
Forecast period |
2021–2026 |
|
Forecast units |
Value (USD) |
|
Segments covered |
By Capacity, Prime Mover, Fuel, End User |
|
Geographies covered |
Asia Pacific, North America, Europe, Middle East & Africa, and South America |
|
Companies covered |
GE (US), Siemens Energy (Germany), Veolia (France), Wärtsilä (Finland), 2G Energy (Germany), Mitsubishi Heavy Industries (Japan), Caterpillar (US), E.ON (Germany), Viessmann Werke (UK), Tecogen (US), BDR Thermea Group (Netherlands), Dalkia Aegis EDF Group (US), Bosch (Germany), FuelCell Energy (US), Cummins (US), Centrica (UK), Man Energy Solutions (Germany), Caterpillar (US), Capstone Green Energy (US), ClearCell Power (US), RESET(Italy), HELEC Limited (UK), AB Holding (Italy), Enexor Bioenergy (US), and H3-Combined Heat and Power (Canada). |
This research report categorizes the combined heat and power market based by capacity, prime mover, fuel, end user, and region.
Based on capacity, the CHP Market has been segmented as follows:
- Up to 10 MW
- 10-150 MW
- 151-300 MW
- Above 300 MW
Based on Prime Mover, the CHP Market has been segmented as follows:
- Gas Turbine
- Steam Turbine
- Reciprocating Engine
- Fuel Cell
- Microturbine
- Others (stirling engine and combined cyle power plants)
Based on Fuel, the CHP Market has been segmented as follows:
- Coal
- Natural Gas
- Biogas/biomass
- Nuclear
- Diesel
- Others (Biodiesel and geothermal)
Based on the region, the CHP Market has been segmented as follows:
- North America
- Asia Pacific
- South America
- Europe
- Middle East & Africa
Recent Developments
- In February 2021, Siemens signed an agreement with the Guangdong Energy Group to provide F-class gas turbine island equipment for the Zhaoqing Dinghu Combined Heat and Power (CHP) generation project in Dinghu District, Zhaoqing City, Guangdong Province (China). The CHP plant is rated at 2×460MW and includes two SGT5-4000F gas turbines, two steam turbines, four generators, two SPPA-T3000 control systems and related auxiliary equipment.
- In February 2021, Wärtsilä secured a contract from Kraftwerke Mainz-Wiesbaden to deliver a 100 MW CHP plant, which would feed the excess heat generated during power generation into the Mainz district heating network, providing around 40,000 modern single-family homes.
- In August 2020, 2G Energy expanded its aura series with two engines, namely, aura 408 and aura 412. Aura 408 has an electrical output of 280 kW. Aura 412 has an electrical output of 420 kW. These engines can be efficient up to 94% with a thermal efficiency of around 56% and emit very low nitrogen oxide.
- In January 2020, Veolia signed a 15-year contract with Total Fitness to install CHP units across 17 health and fitness facilities in the north of England and Wales. Veolia will assist Total Fitness in achieving a 32% reduction in gas consumption and a 22% increase in electrical efficiency.
- in April 2018, GE signed an agreement with GreenTech to supply 21 Jenbacher gas engines for CHP generation in Russian food & beverage, glass, agriculture, and chemical processes industries. With a total capacity of 26 MW, the engines were delivered by the end of 2018.
Frequently Asked Questions (FAQ):
What is the current size of the CHP market?
The current market size of global CHP market is estimated to be USD 26.6 billion in 2021.
What is the major drivers for CHP market?
The Wastewater treatment facilities (WWTFs) use a high amount of energy; as per the American Council for an Energy-Efficient Economy, these facilities account for 4% of the energy used in the US. The facilities require significant quantities of energy to operate large water pumps, large air blowers and mixers, solids-handling equipment, a wide range of motors, solids volume reduction and disposal equipment, and for other support activities. CHPs at WWTFs offer several benefits, such as savings in energy costs; federal, state, local, and utility incentives; energy/sustainability plans and emissions reductions; enhanced reliability; facility upgrades; increased biogas production; and green publicity/positive public relations.
WWTFs use the savings generated from CHPs to invest in other infrastructure upgrades needed at the facility. Some become more conscious of the energy they use, and some use CHPs to hedge against possible energy price increases. For example, the 120 kW microturbine CHP system at the Albert Lea Wastewater Treatment Plant (US) generates approximately USD 100,000 in annual energy savings, and using the CHP made the facility more conscious of its energy use, leading to several other energy¬ efficiency improvements, which resulted in further cost savings. Many WWTFs receive government grants or payments for the green attributes of the power generated using biogas. These facilities can also sell the excess power to the grid through power purchase agreements (PPA), which has enhanced CHP project economics at such sites. For instance, in May 2018, the Fairfield Water Pollution Control Authority (US) received USD 880,000 from the Connecticut Clean Energy Fund, which was 66.6% of the total CHP system cost.
For several WWTF’s, installing a CHP system acts as a driver to meet state/local/facility sustainability plans because of the CHP’s ability to replace grid¬based electricity with clean, renewably fueled electricity. Also, for many WWTF’s, installing a CHP system enables them to operate independently from the grid in case of outages. The Rock River Reclamation Plant (US) initially installed a 2 MW reciprocating engine CHP system in mid¬2004; in 2010, the facility expanded the CHP system to include three reciprocating engines with a total capacity of 3.075 MW to operate independently from the grid.
Some WWTFs include additional waste streams, which boosts their biogas production. In such cases, installing a CHP system capitalizes on the increased fuel availability and benefits the facility. For instance, in November 2020, the Des Moines Metro Wastewater Reclamation Facility (US) started upgrading its anaerobic digesters to handle additional hauled wastes. This would enable the facility to efficiently use the increased amount of biogas. Installing CHPs in WWTFs enhances biosolids management. Treating biosolids in anaerobic digesters reduces biosolid mass, decreases the burden associated with drying biosolids on-site, and helps produce biogas that can be used to generate power and heat on-site. This was incorporated in the Theresa Street Wastewater Treatment Facility (US), where raw sludge was kept out of landfills through better biosolids management by installing anaerobic digesters on-site. These digesters allowed the facility to generate clean power and heat with the resulting biogas.
Which is the fastest-growing region during the forecasted period in CHP market?
Asia Pacific is the fastest-growing region during the forecasted period. The region is the most populated region in the world and is expected to become the largest CHP deploying region globally. It comprises many developing countries and requires more increased efficiency of electrcity. Thus, increasing awareness for carbon reduction is likely to drive the growth of market.
Which is the fastest-growing segment, by fuel during the forecasted period in CHP market?
The natural gas segment, by fuel is the fastest-growing segment during the forecasted period. The natural gas segment accounted for the largest market share of 53.4% in 2020. Natural gas is mostly used in gas engines for electricity generation, as it burns cleaner and has low carbon emissions compared with other types of fuels. It also emits low levels of nitrogen oxide, sulfur dioxide, and particulate matter. The consumption of natural gas has led to rising concerns over global warming.
Gas engines with a power output of 5–20 MW mostly use natural gas as a fuel. Utilities are the largest end users of natural gas-based CHP systems. The major applications of natural gas engines are industrial and commercial cogeneration. The US, Russia, the UK, France, Germany, and Canada are strengthening their natural gas distribution networks, which is expected to create a demand for natural gas-based CHP systems. Gas engine technologies can be connected to the existing gas pipeline systems to avoid diesel fuel supply issues during natural calamities. Many gas distribution companies are providing natural gas capsules for remote location facilities where gas distribution networks cannot reach.. .
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TABLE OF CONTENTS
1 INTRODUCTION (Page No. - 31)
1.1 STUDY OBJECTIVES
1.2 DEFINITION
1.3 INCLUSIONS AND EXCLUSIONS
1.3.1 COMBINED HEAT AND POWER MARKET, BY END USER
1.3.2 COMBINED HEAT AND POWER MARKET, BY CAPACITY
1.3.3 COMBINED HEAT AND POWER MARKET, BY PRIME MOVER
1.3.4 COMBINED HEAT AND POWER MARKET, BY FUEL
1.4 MARKET SCOPE
1.4.1 COMBINED HEAT AND POWER MARKET: SEGMENTATION
1.4.2 GEOGRAPHIC SCOPE
1.4.3 YEARS CONSIDERED
1.5 CURRENCY
1.6 LIMITATIONS
1.7 STAKEHOLDERS
1.8 SUMMARY OF CHANGES
2 RESEARCH METHODOLOGY (Page No. - 37)
2.1 RESEARCH DATA
FIGURE 1 COMBINED HEAT AND POWER MARKET: RESEARCH DESIGN
2.2 MARKET BREAKDOWN AND DATA TRIANGULATION
FIGURE 2 DATA TRIANGULATION METHODOLOGY
2.2.1 SECONDARY DATA
2.2.1.1 Key data from secondary sources
2.2.2 PRIMARY DATA
2.2.2.1 Key data from primary sources
2.2.2.2 Breakdown of primaries
FIGURE 3 BREAKDOWN OF PRIMARIES
2.3 IMPACT OF COVID-19
2.4 MARKET SIZE ESTIMATION
2.4.1 BOTTOM-UP APPROACH
FIGURE 4 MARKET SIZE ESTIMATION METHODOLOGY: BOTTOM-UP APPROACH
2.4.2 TOP-DOWN APPROACH
FIGURE 5 MARKET SIZE ESTIMATION METHODOLOGY: TOP-DOWN APPROACH
2.4.3 DEMAND-SIDE ANALYSIS
FIGURE 6 MAIN METRICS CONSIDERED WHILE ANALYZING AND ASSESSING DEMAND FOR CHP
2.4.3.1 Demand-side calculation
2.4.3.2 Assumptions for demand-side analysis
2.4.4 SUPPLY-SIDE ANALYSIS
FIGURE 7 MAIN METRICS CONSIDERED IN ASSESSING SUPPLY FOR CHP MARKET
FIGURE 8 COMBINED HEAT AND POWER MARKET: SUPPLY-SIDE ANALYSIS
2.4.4.1 Supply-side calculation
2.4.4.2 Assumptions for supply side
2.4.5 FORECAST
3 EXECUTIVE SUMMARY (Page No. - 47)
TABLE 1 SNAPSHOT OF CHP MARKET
FIGURE 9 10–150 MW SEGMENT TO ACCOUNT FOR LARGEST SHARE OF CHP MARKET, BY CAPACITY, FROM 2021-2026
FIGURE 10 RECIPROCATING ENGINE TO ACCOUNT FOR LARGEST SHARE OF CHP MARKET, BY PRIME MOVER, FROM 2021-2026
FIGURE 11 NATURAL GAS TO LEAD CHP MARKET, BY FUEL, FROM 2021-2026
FIGURE 12 INDUSTRIAL SEGMENT TO DOMINATE CHP MARKET, BY END USER, FROM 2021-2026
FIGURE 13 ASIA PACIFIC ACCOUNTED FOR LARGEST SHARE OF CHP MARKET IN 2020
4 PREMIUM INSIGHTS (Page No. - 52)
4.1 ATTRACTIVE OPPORTUNITIES IN CHP MARKET
FIGURE 14 INCREASING URBANIZATION, POPULATION, AND NEED TO REDUCE CARBON EMISSIONS WOULD PROPEL MARKET GROWTH DURING 2021–2026
4.2 CHP MARKET IN ASIA PACIFIC, BY FUEL AND COUNTRY
FIGURE 15 CHINA HELD LARGEST SHARE OF ASIA PACIFIC CHP MARKET IN 2020
4.3 CHP MARKET, BY CAPACITY
FIGURE 16 10–150 MW CAPACITY SEGMENT HELD LARGEST SHARE OF GLOBAL CHP MARKET IN 2020
4.4 CHP MARKET, BY PRIME MOVER
FIGURE 17 RECIPROCATING ENGINE CAPTURED LARGEST MARKET SHARE IN 2020
4.5 CHP MARKET, BY FUEL
FIGURE 18 NATURAL GAS ACCOUNTED FOR LARGEST SHARE OF CHP MARKET IN 2020
4.6 CHP MARKET, BY END USER
FIGURE 19 INDUSTRIAL SEGMENT HELD LARGEST SHARE OF CHP MARKET IN 2020
4.7 CHP MARKET, BY REGION
FIGURE 20 ASIA PACIFIC TO RECORD HIGHEST CAGR IN CHP MARKET DURING FORECAST PERIOD
5 MARKET OVERVIEW (Page No. - 56)
5.1 INTRODUCTION
5.2 COVID-19 HEALTH ASSESSMENT
FIGURE 21 COVID-19 GLOBAL PROPAGATION
FIGURE 22 COVID-19 PROPAGATION IN SELECTED COUNTRIES
5.3 ROAD TO RECOVERY
FIGURE 23 RECOVERY ROAD FOR 2020 AND 2021
5.4 COVID-19 ECONOMIC ASSESSMENT
FIGURE 24 REVISED GDP FOR SELECTED G20 COUNTRIES IN 2020
5.5 MARKET DYNAMICS
FIGURE 25 COMBINED HEAT AND POWER MARKET: DRIVERS, RESTRAINTS, OPPORTUNITIES, AND CHALLENGES
5.5.1 DRIVERS
5.5.1.1 Government programs and incentives to promote CHP
5.5.1.2 Rise in use of natural gas for power generation
FIGURE 26 POWER GENERATION FROM NATURAL GAS, 2019 & 2020
FIGURE 27 GLOBAL NATURAL GAS CONSUMPTION
5.5.1.3 Significant benefits of CHP systems in wastewater treatment facilities
TABLE 2 WASTEWATER TREATMENT FACILITIES WITH CHP SYSTEMS IN US
5.5.2 RESTRAINTS
5.5.2.1 Increased installation and maintenance costs of CHP systems
5.5.2.2 Existence of competing technologies resulting in lack of interest in development of CHP systems
5.5.2.3 Rising concerns over stable natural gas supply for CHP systems
5.5.3 OPPORTUNITIES
5.5.3.1 Rise in deployment of micro-CHP systems
FIGURE 28 FUEL CELL MICRO-CHP INSTALLATIONS IN JAPAN, 2009–2017
5.5.3.2 Replacement/upgrade of aged power generation equipment
5.5.3.3 Increased trend of distributed power generation creating huge opportunity for gas turbine-based CHP market
5.5.4 CHALLENGES
5.5.4.1 Damage to prime movers due to impurities in biogas fueled CHP plans
TABLE 3 CHP PRIME MOVER TOLERANCE TO BIOGAS CONTAMINANTS
5.5.4.2 Challenges posed by utilities for sale of excess electricity by CHP plants
5.5.4.3 Stability issues related to decentralization of energy generation
5.6 TRENDS AND DISRUPTIONS IMPACTING CUSTOMERS
5.6.1 REVENUE SHIFT AND NEW REVENUE POCKETS FOR CHP COMPANIES
FIGURE 29 REVENUE SHIFT FOR COMBINED HEAT AND POWER MARKET
5.7 MARKET MAP
FIGURE 30 COMBINED HEAT AND POWER MARKET MAP
5.8 PRICING ANALYSIS
TABLE 4 COMPARISON OF INSTALLATION COST OF COMBINED HEAT AND POWER (CHP) SYSTEMS, BY PRIME MOVER
5.9 SUPPLY CHAIN ANALYSIS
FIGURE 31 COMBINED HEAT AND POWER MARKET: SUPPLY CHAIN ANALYSIS
5.9.1 RAW MATERIAL PROVIDERS/SUPPLIERS
5.9.2 CHP EQUIPMENT MANUFACTURERS
5.9.3 CHP SERVICES/SOLUTIONS PROVIDERS AND PROJECT DEVELOPERS
5.9.4 CHP OPERATORS/END USERS
5.10 TECHNOLOGY ANALYSIS
5.10.1 DIFFERENT TECHNOLOGIES INCORPORATED IN CHP PLANTS
5.11 CODES AND REGULATIONS
TABLE 5 COMBINED HEAT AND POWER MARKET: CODES AND REGULATIONS
5.12 INNOVATIONS AND PATENT REGISTRATIONS
TABLE 6 COMBINED HEAT AND POWER MARKET: INNOVATIONS AND PATENT REGISTRATIONS, MARCH 2016–AUGUST 2021
5.13 PORTER’S FIVE FORCES ANALYSIS
FIGURE 32 PORTER’S FIVE FORCES ANALYSIS FOR COMBINED HEAT AND POWER MARKET
TABLE 7 IMPACT OF EACH FORCE ON COMBINED HEAT AND POWER MARKET
5.13.1 THREAT OF SUBSTITUTES
5.13.2 BARGAINING POWER OF SUPPLIERS
5.13.3 BARGAINING POWER OF BUYERS
5.13.4 THREAT OF NEW ENTRANTS
5.13.5 INTENSITY OF COMPETITIVE RIVALRY
5.14 CASE STUDIES
5.14.1 TO REDUCE CARBON EMISSIONS FROM CHP PLANT AND ENABLE FURTHER GROWTH IN SODIUM BICARBONATE PRODUCTION
5.14.2 NEED TO REDUCE OVERALL CARBON FOOTPRINT TO MEET CARBON REDUCTION TARGET OF NHS
5.14.3 CENTRICA BUSINESS SOLUTIONS HELPED REDUCE ENERGY COSTS BY INSTALLING CHP UNITS
5.14.4 SOUTHEND HOSPITAL REAPS FINANCIAL BENEFITS OF COMBINED HEAT AND POWER SYSTEM SINCE ITS COMMISSIONING IN 2017
6 CHP MARKET, BY CAPACITY (Page No. - 80)
6.1 INTRODUCTION
FIGURE 33 CHP MARKET, BY CAPACITY, 2020 (%)
TABLE 8 CHP MARKET, BY CAPACITY, 2019–2026 (USD MILLION)
6.2 UP TO 10 MW
6.2.1 INCREASED INVESTMENTS IN RESIDENTIAL AND COMMERCIAL PROJECTS TO DRIVE GROWTH OF THIS SEGMENT
TABLE 9 CHP MARKET FOR UP TO 10 MW CAPACITY, BY REGION, 2019–2026 (USD MILLION)
6.3 10-150 MW
6.3.1 LARGE DEMAND FOR CHP INSTALLATIONS FOR 10–150 MW CAPACITY FROM INDUSTRIAL SECTOR
TABLE 10 CHP MARKET FOR 10–150 MW CAPACITY, BY REGION, 2019–2026 (USD MILLION)
6.4 151–300 MW
6.4.1 MARKET
TABLE 11 CHP MARKET FOR 151–300 MW CAPACITY, BY REGION, 2019–2026 (USD MILLION)
6.5 ABOVE 300 MW
6.5.1 RISING FOCUS OF UTILITIES ON COST-EFFICIENT AND CLEANER POWERING FUELS IS LIKELY TO CREATE DEMAND FOR CHPS FROM UTILITIES
TABLE 12 CHP MARKET FOR CAPACITY ABOVE 300 MW, BY REGION, 2019–2026 (USD MILLION)
7 CHP MARKET, BY PRIME MOVER (Page No. - 85)
7.1 INTRODUCTION
FIGURE 34 CHP MARKET, BY PRIME MOVER, 2020 (%)
TABLE 13 CHP MARKET, BY PRIME MOVER, 2019–2026 (USD MILLION)
7.2 GAS TURBINE
7.2.1 HIGH-TEMPERATURE HEAT GENERATED FROM TURBINES CAN BE USED FOR GENERATION OF HIGH-PRESSURE STEAM
TABLE 14 CHP MARKET FOR GAS TURBINE , BY REGION, 2019–2026 (USD MILLION)
7.3 STEAM TURBINE
7.3.1 FLEXIBILITY OF STEAM TURBINES HAS INCREASED THEIR USE IN CHP INDUSTRY
TABLE 15 CHP MARKET FOR STEAM TURBINE, BY REGION, 2019–2026 (USD MILLION)
7.4 RECIPROCATING ENGINE
7.4.1 HIGH EFFICIENCY AND RELIABILITY IS LEADING TO INCREASING USE OF RECIPROCATING ENGINES IN CHP PLANTS
TABLE 16 CHP MARKET FOR RECIPROCATING ENGINE, BY REGION, 2019–2026 (USD MILLION)
7.5 FUEL CELL
7.5.1 RISING DEMAND FOR CLEANER POWER GENERATION IS DRIVING CHP MARKET FOR FUEL CELL
TABLE 17 CHP MARKET FOR FUEL CELL, BY REGION, 2019–2026 (USD MILLION)
7.6 MICROTURBINE
7.6.1 LOW CARBON EMISSIONS OF MICROTURBINES DRIVE THIS SEGMENT IN CHP MARKET
TABLE 18 CHP MARKET FOR MICROTURBINE, BY REGION, 2019–2026 (USD MILLION)
7.7 OTHERS (STIRLING ENGINES AND COMBINED CYCLE)
7.7.1 COMBINED CYCLE POWER PLANTS PRODUCE 50% MORE ELECTRICITY COMPARED WITH TRADITIONAL SIMPLE-CYCLE PLANTS
TABLE 19 CHP MARKET FOR OTHERS, BY REGION, 2019–2026 (USD MILLION)
8 CHP MARKET, BY FUEL (Page No. - 92)
8.1 INTRODUCTION
FIGURE 35 CHP MARKET, BY FUEL, 2020 (%)
TABLE 20 CHP MARKET, BY FUEL, 2019–2026 (USD MILLION)
8.2 COAL
8.2.1 WIDESPREAD USE OF COAL FOR ELECTRICITY GENERATION DRIVES GROWTH OF THIS SEGMENT
TABLE 21 COAL-BASED CHP MARKET, BY REGION, 2019–2026 (USD MILLION)
8.3 NATURAL GAS
8.3.1 INCREASING NEED FOR CLEAN-BURNING FUELS DRIVES GROWTH OF NATURAL GAS-BASED CHP PLANTS
TABLE 22 NATURAL GAS-BASED CHP MARKET, BY REGION, 2019–2026 (USD MILLION)
8.4 BIOGAS/BIOMASS
8.4.1 RISING CO2 EMISSIONS CONCERNS ARE LEADING COMPANIES TO SWITCH FROM NONRENEWABE FUELS TO BIOGAS-/BIOMASS
TABLE 23 BIOGAS/BIOMASS-BASED CHP MARKET, BY REGION, 2019–2026 (USD MILLION)
8.5 NUCLEAR
8.5.1 ENVIRONMENTAL BENEFITS OFFERED BY NUCLEAR SYSTEMS ARE DRIVING CHP MARKET
TABLE 24 NUCLEAR-BASED CHP MARKET, BY REGION, 2019–2026 (USD MILLION)
8.6 DIESEL
8.6.1 DEMAND FOR BACKUP POWER TO DRIVE GROWTH OF DIESEL-BASED CHP PLANTS
TABLE 25 DIESEL-BASED CHP MARKET, BY REGION, 2019–2026 (USD MILLION)
8.7 OTHERS
8.7.1 INCREASING AWARENESS FOR REDUCING HARMFUL EMISSIONS IS DRIVING THIS SEGMENT
TABLE 26 OTHER FUEL-BASED CHP MARKET, BY REGION, 2019–2026 (USD MILLION)
9 CHP MARKET, BY END USER (Page No. - 99)
9.1 INTRODUCTION
FIGURE 36 CHP MARKET, BY END USER, 2020 (%)
TABLE 27 CHP MARKET, BY END USER, 2019–2026 (USD MILLION)
9.2 RESIDENTIAL
9.2.1 GROWING NEED TO REDUCE CARBON EMISSIONS AND DEPENDENCE ON CENTRALIZED POWER GENERATION DRIVES MARKET GROWTH IN RESIDENTIAL SEGMENT
TABLE 28 CHP MARKET FOR RESIDENTIAL, BY REGION, 2019–2026 (USD MILLION)
9.3 COMMERCIAL
9.3.1 INCREASING NEED FOR SYSTEMS OFFERING ENVIRONMENT-FRIENDLY BENEFITS TO MEET HUGE ENERGY REQUIREMENTS IS DRIVING MARKET GROWTH IN THIS SEGMENT
TABLE 29 CHP MARKET FOR COMMERCIAL, BY REGION, 2019–2026 (USD MILLION)
9.4 INDUSTRIAL
9.4.1 GROWING DEMAND FOR RELIABLE POWER SUPPLY IS DRIVING CHP MARKET FOR INDUSTRIAL SECTOR
TABLE 30 CHP MARKET FOR INDUSTRIAL, BY REGION, 2019–2026 (USD MILLION)
9.5 UTILITIES
9.5.1 RISING FOCUS OF UTILITIES ON COST-EFFICIENT AND CLEANER POWERING FUELS IS LIKELY TO CREATE DEMAND FOR CHP SYSTEMS
TABLE 31 CHP MARKET FOR UTILITIES, BY REGION, 2019–2026 (USD MILLION)
10 GEOGRAPHIC ANALYSIS (Page No. - 105)
10.1 INTRODUCTION
FIGURE 37 CHP MARKET IN ASIA PACIFIC TO GROW AT HIGHEST CAGR FROM 2021 TO 2026
FIGURE 38 CHP MARKET SHARE FOR EACH REGION, 2020 (%)
TABLE 32 CHP MARKET, BY REGION, 2019–2026 (USD MILLION)
10.2 ASIA PACIFIC
FIGURE 39 ASIA PACIFIC: SNAPSHOT OF CHP MARKET, 2020
10.2.1 BY CAPACITY
TABLE 33 CHP MARKET IN ASIA PACIFIC, BY CAPACITY, 2019–2026 (USD MILLION)
10.2.2 BY PRIME MOVER
TABLE 34 CHP MARKET IN ASIA PACIFIC, BY PRIME MOVER, 2019–2026 (USD MILLION)
10.2.3 BY FUEL
TABLE 35 CHP MARKET IN ASIA PACIFIC, BY FUEL, 2019–2026 (USD MILLION)
10.2.4 BY END USER
TABLE 36 CHP MARKET IN ASIA PACIFIC, BY END USER, 2019–2026 (USD MILLION)
10.2.5 BY COUNTRY
TABLE 37 CHP MARKET IN ASIA PACIFIC, BY COUNTRY, 2019–2026 (USD MILLION)
10.2.5.1 China
10.2.5.1.1 Rapid industrialization and infrastructural development are leading to increasing demand for electricity
10.2.5.1.2 By capacity
TABLE 38 CHP MARKET IN CHINA, BY CAPACITY, 2019–2026 (USD MILLION)
10.2.5.1.3 By prime mover
TABLE 39 CHP MARKET IN CHINA, BY PRIME MOVER, 2019–2026 (USD MILLION)
10.2.5.1.4 By fuel
TABLE 40 CHP MARKET IN CHINA, BY FUEL, 2019–2026 (USD MILLION)
10.2.5.1.5 By end user
TABLE 41 CHP MARKET IN CHINA, BY END USER, 2019–2026 (USD MILLION)
10.2.5.2 Japan
10.2.5.2.1 Plans to promote distributed power generation by residential and commercial end users are driving CHP market in Japan
10.2.5.2.2 By capacity
TABLE 42 CHP MARKET IN JAPAN, BY CAPACITY , 2019–2026 (USD MILLION)
10.2.5.2.3 By prime mover
TABLE 43 CHP MARKET IN JAPAN, BY PRIME MOVER, 2019–2026 (USD MILLION)
10.2.5.2.4 By fuel
TABLE 44 CHP MARKET IN JAPAN, BY FUEL, 2019–2026 (USD MILLION)
10.2.5.2.5 By end user
TABLE 45 CHP MARKET IN JAPAN, BY END USER, 2019–2026 (USD MILLION)
10.2.5.3 South Korea
10.2.5.3.1 Goal of reducing greenhouse emissions has led to increase in installation of CHP plants
10.2.5.3.2 By capacity
TABLE 46 CHP MARKET IN SOUTH KOREA, BY CAPACITY, 2019–2026 (USD MILLION)
10.2.5.3.3 By prime mover
TABLE 47 CHP MARKET IN SOUTH KOREA, BY PRIME MOVER, 2019–2026 (USD MILLION)
10.2.5.3.4 By fuel
TABLE 48 CHP MARKET IN SOUTH KOREA, BY FUEL, 2019–2026 (USD MILLION)
10.2.5.3.5 By end user
TABLE 49 CHP MARKET IN SOUTH KOREA, BY END USER, 2019–2026 (USD MILLION)
10.2.5.4 Australia
10.2.5.4.1 Government initiatives to provide incentives for installing clean and energy-efficient technologies are driving Australian CHP market
10.2.5.4.2 By capacity
TABLE 50 CHP MARKET IN AUSTRALIA, BY CAPACITY, 2019–2026 (USD MILLION)
10.2.5.4.3 By prime mover
TABLE 51 CHP MARKET IN AUSTRALIA, BY PRIME MOVER, 2019–2026 (USD MILLION)
10.2.5.4.4 By fuel
TABLE 52 CHP MARKET IN AUSTRALIA, BY FUEL, 2019–2026 (USD MILLION)
10.2.5.4.5 By end user
TABLE 53 CHP MARKET IN AUSTRALIA, BY END USER, 2019–2026 (USD MILLION)
10.2.5.5 India
10.2.5.5.1 Increased demand for electricity from industrial and commercial segments to drive market
10.2.5.5.2 By capacity
TABLE 54 CHP MARKET IN INDIA, BY CAPACITY, 2019–2026 (USD MILLION)
10.2.5.5.3 By prime mover
TABLE 55 CHP MARKET IN INDIA, BY PRIME MOVER, 2019–2026 (USD MILLION)
10.2.5.5.4 By fuel
TABLE 56 CHP MARKET IN INDIA, BY FUEL, 2019–2026 (USD MILLION)
10.2.5.5.5 By end user
TABLE 57 CHP MARKET IN INDIA, BY END USER, 2019–2026 (USD MILLION)
10.2.5.6 Rest of ASIA PACIFIC
10.2.5.6.1 By capacity
TABLE 58 CHP MARKET IN REST OF ASIA PACIFIC, BY CAPACITY, 2019–2026 (USD MILLION)
10.2.5.6.2 By prime mover
TABLE 59 CHP MARKET IN REST OF ASIA PACIFIC, BY PRIME MOVER, 2019–2026 (USD MILLION)
10.2.5.6.3 By fuel
TABLE 60 CHP MARKET IN REST OF ASIA PACIFIC, BY FUEL, 2019–2026 (USD MILLION)
10.2.5.6.4 By end user
TABLE 61 CHP MARKET IN REST OF ASIA PACIFIC, BY END USER, 2019–2026 (USD MILLION)
10.3 EUROPE
FIGURE 40 EUROPE: SNAPSHOT OF CHP MARKET, 2020
10.3.1 BY CAPACITY
TABLE 62 CHP MARKET IN EUROPE, BY CAPACITY, 2019–2026 (USD MILLION)
10.3.2 BY PRIME MOVER
TABLE 63 CHP MARKET IN EUROPE, BY PRIME MOVER, 2019–2026 (USD MILLION)
10.3.3 BY FUEL
TABLE 64 CHP MARKET IN EUROPE, BY FUEL, 2019–2026 (USD MILLION)
10.3.4 BY END USER
TABLE 65 CHP MARKET IN EUROPE, BY END USER, 2019–2026 (USD MILLION)
10.3.5 BY COUNTRY
TABLE 66 CHP MARKET IN EUROPE, BY COUNTRY, 2019–2026 (USD MILLION)
10.3.5.1 Germany
10.3.5.1.1 Huge manufacturing sector and its increasing demand for electricity has led to increase in CHP installations
10.3.5.1.2 By capacity
TABLE 67 CHP MARKET IN GERMANY, BY CAPACITY, 2019–2026 (USD MILLION)
10.3.5.1.3 By prime mover
TABLE 68 CHP MARKET IN GERMANY, BY PRIME MOVER, 2019–2026 (USD MILLION)
10.3.5.1.4 By fuel
TABLE 69 CHP MARKET IN GERMANY, BY FUEL, 2019–2026 (USD MILLION)
10.3.5.1.5 By end user
TABLE 70 CHP MARKET IN GERMANY, BY END USER, 2019–2026 (USD MILLION)
10.3.5.2 UK
10.3.5.2.1 Increasing need for efficient power generation is expected to drive UK’s CHP market
10.3.5.2.2 By capacity
TABLE 71 CHP MARKET IN UK, BY CAPACITY, 2019–2026 (USD MILLION)
10.3.5.2.3 By prime mover
TABLE 72 CHP MARKET IN UK, BY PRIME MOVER, 2019–2026 (USD MILLION)
10.3.5.2.4 By fuel
TABLE 73 CHP MARKET IN UK, BY FUEL, 2019–2026 (USD MILLION)
10.3.5.2.5 By end user
TABLE 74 CHP MARKET IN UK, BY END USER, 2019–2026 (USD MILLION)
10.3.5.3 Russia
10.3.5.3.1 Large planned investments for increasing power generation capacity is leading to rise in CHP installations
10.3.5.3.2 By capacity
TABLE 75 CHP MARKET IN RUSSIA, BY CAPACITY, 2019–2026 (USD MILLION)
10.3.5.3.3 By prime mover
TABLE 76 CHP MARKET IN RUSSIA, BY PRIME MOVER, 2019–2026 (USD MILLION)
10.3.5.3.4 By fuel
TABLE 77 CHP MARKET IN RUSSIA, BY FUEL, 2019–2026 (USD MILLION)
10.3.5.3.5 By end user
TABLE 78 CHP MARKET IN RUSSIA, BY END USER, 2019–2026 (USD MILLION)
10.3.5.4 France
10.3.5.4.1 Increased foreign direct investments in manufacturing sector are driving growth
10.3.5.4.2 By capacity
TABLE 79 CHP MARKET IN FRANCE, BY CAPACITY, 2019–2026 (USD MILLION)
10.3.5.4.3 By prime mover
TABLE 80 CHP MARKET IN FRANCE, BY PRIME MOVER, 2019–2026 (USD MILLION)
10.3.5.4.4 By fuel
TABLE 81 CHP MARKET IN FRANCE, BY FUEL, 2019–2026 (USD MILLION)
10.3.5.4.5 By end user
TABLE 82 CHP MARKET IN FRANCE, BY END USER, 2019–2026 (USD MILLION)
10.3.5.5 Italy
10.3.5.5.1 Rising demand for higher overall energy efficiency is likely to drive CHP market
10.3.5.5.2 By capacity
TABLE 83 CHP MARKET IN ITALY, BY CAPACITY, 2019–2026 (USD MILLION)
10.3.5.5.3 By prime mover
TABLE 84 CHP MARKET IN ITALY, BY PRIME MOVER, 2019–2026 (USD MILLION)
10.3.5.5.4 By fuel
TABLE 85 CHP MARKET IN ITALY, BY FUEL, 2019–2026 (USD MILLION)
10.3.5.5.5 By end user
TABLE 86 CHP MARKET IN ITALY, BY END USER, 2019–2026 (USD MILLION)
10.3.5.6 Rest of Europe
10.3.5.6.1 By capacity
TABLE 87 CHP MARKET IN REST OF EUROPE, BY CAPACITY, 2019–2026 (USD MILLION)
10.3.5.6.2 By prime mover
TABLE 88 CHP MARKET IN REST OF EUROPE, BY PRIME MOVER, 2019–2026 (USD MILLION)
10.3.5.6.3 By fuel
TABLE 89 CHP MARKET IN REST OF EUROPE, BY FUEL, 2019–2026 (USD MILLION)
10.3.5.6.4 By end user
TABLE 90 CHP MARKET IN REST OF EUROPE, BY END USER, 2019–2026 (USD MILLION)
10.4 NORTH AMERICA
10.4.1 BY CAPACITY
TABLE 91 CHP MARKET IN NORTH AMERICA, BY CAPACITY, 2019–2026 (USD MILLION)
10.4.2 BY PRIME MOVER
TABLE 92 CHP MARKET IN NORTH AMERICA, BY PRIME MOVER, 2019–2026 (USD MILLION)
10.4.3 BY FUEL
TABLE 93 CHP MARKET IN NORTH AMERICA, BY FUEL, 2019–2026 (USD MILLION)
10.4.4 BY END USER
TABLE 94 CHP MARKET IN NORTH AMERICA, BY END USER, 2019–2026 (USD MILLION)
10.4.5 BY COUNTRY
TABLE 95 CHP MARKET IN NORTH AMERICA, BY COUNTRY, 2019–2026 (USD MILLION)
10.4.5.1 US
10.4.5.1.1 Programs to promote CHP are driving its market in US
10.4.5.1.2 By capacity
TABLE 96 CHP MARKET IN US, BY CAPACITY, 2019–2026 (USD MILLION)
10.4.5.1.3 By prime mover
TABLE 97 CHP MARKET IN US, BY PRIME MOVER, 2019–2026 (USD MILLION)
10.4.5.1.4 By fuel
TABLE 98 CHP MARKET IN US, BY FUEL, 2019–2026 (USD MILLION)
10.4.5.1.5 By end user
TABLE 99 CHP MARKET IN US, BY END USER, 2019–2026 (USD MILLION)
10.4.5.2 Canada
10.4.5.2.1 Power requirements of highly scattered population leading to increasing installations of CHP plants
10.4.5.2.2 By capacity
TABLE 100 CHP MARKET IN CANADA, BY CAPACITY, 2019–2026 (USD MILLION)
10.4.5.2.3 By prime mover
TABLE 101 CHP MARKET IN CANADA, BY PRIME MOVER, 2019–2026 (USD MILLION)
10.4.5.2.4 By fuel
TABLE 102 CHP MARKET IN CANADA, BY FUEL, 2019–2026 (USD MILLION)
10.4.5.2.5 By end user
TABLE 103 CHP MARKET IN CANADA, BY END USER, 2019–2026 (USD MILLION)
10.4.5.3 Mexico
10.4.5.3.1 Governmental push for cleaner electricity production is driving CHP market
10.4.5.3.2 By capacity
TABLE 104 CHP MARKET IN MEXICO, BY CAPACITY, 2019–2026 (USD MILLION)
10.4.5.3.3 By prime mover
TABLE 105 CHP MARKET IN MEXICO, BY PRIME MOVER, 2019–2026 (USD MILLION)
10.4.5.3.4 By fuel
TABLE 106 CHP MARKET IN MEXICO, BY FUEL, 2019–2026 (USD MILLION)
10.4.5.3.5 By end user
TABLE 107 CHP MARKET IN MEXICO, BY END USER, 2019–2026 (USD MILLION)
10.5 MIDDLE EAST & AFRICA (MEA)
10.5.1 BY CAPACITY
TABLE 108 CHP MARKET IN MEA, BY CAPACITY, 2019–2026 (USD MILLION)
10.5.2 BY PRIME MOVER
TABLE 109 CHP MARKET IN MEA, BY PRIME MOVER, 2019–2026 (USD MILLION)
10.5.3 BY FUEL
TABLE 110 CHP MARKET IN MEA, BY FUEL, 2019–2026 (USD MILLION)
10.5.4 BY END USER
TABLE 111 CHP MARKET IN MEA, BY END USER, 2019–2026 (USD MILLION)
10.5.5 BY COUNTRY
TABLE 112 CHP MARKET IN MEA, BY COUNTRY, 2019–2026 (USD MILLION)
10.5.5.1 Saudi Arabia
10.5.5.1.1 Emerging trend of clean power is likely to drive CHP market in Saudi Arabia
10.5.5.1.2 By capacity
TABLE 113 CHP MARKET IN SAUDI ARABIA, BY CAPACITY, 2019–2026 (USD MILLION)
10.5.5.1.3 By prime mover
TABLE 114 CHP MARKET IN SAUDI ARABIA, BY PRIME MOVER, 2019–2026 (USD MILLION)
10.5.5.1.4 By fuel
TABLE 115 CHP MARKET IN SAUDI ARABIA, BY FUEL, 2019–2026 (USD MILLION)
10.5.5.1.5 By end user
TABLE 116 CHP MARKET IN SAUDI ARABIA, BY END USER, 2019–2026 (USD MILLION)
10.5.5.2 UAE
10.5.5.2.1 Increasing share of renewables in UAE’s electricity generation mix is likely to drive its CHP market
10.5.5.2.2 By capacity
TABLE 117 CHP MARKET IN UAE, BY CAPACITY , 2019–2026 (USD MILLION)
10.5.5.2.3 By prime mover
TABLE 118 CHP MARKET IN UAE, BY PRIME MOVER, 2019–2026 (USD MILLION)
10.5.5.2.4 By fuel
TABLE 119 CHP MARKET IN UAE, BY FUEL, 2019–2026 (USD MILLION)
10.5.5.2.5 By end user
TABLE 120 CHP MARKET IN UAE, BY END USER, 2019–2026 (USD MILLION)
10.5.5.3 Turkey
10.5.5.3.1 Requirement of sustainable economic growth and energy security drives CHP market
10.5.5.3.2 By capacity
TABLE 121 CHP MARKET IN TURKEY, BY CAPACITY, 2019–2026 (USD MILLION)
10.5.5.3.3 By prime mover
TABLE 122 CHP MARKET IN TURKEY, BY PRIME MOVER, 2019–2026 (USD MILLION)
10.5.5.3.4 By fuel
TABLE 123 CHP MARKET IN TURKEY, BY FUEL, 2019–2026 (USD MILLION)
10.5.5.3.5 By end user
TABLE 124 CHP MARKET IN TURKEY, BY END USER, 2019–2026 (USD MILLION)
10.5.5.4 Nigeria
10.5.5.4.1 CHP is used to fulfill domestic demand for electricity
10.5.5.4.2 By capacity
TABLE 125 CHP MARKET IN NIGERIA, BY CAPACITY, 2019–2026 (USD MILLION)
10.5.5.4.3 By prime mover
TABLE 126 CHP MARKET IN NIGERIA, BY PRIME MOVER, 2019–2026 (USD MILLION)
10.5.5.4.4 By fuel
TABLE 127 CHP MARKET IN NIGERIA, BY FUEL, 2019–2026 (USD MILLION)
10.5.5.4.5 By end user
TABLE 128 CHP MARKET IN NIGERIA, BY END USER, 2019–2026 (USD MILLION)
10.5.5.5 South Africa
10.5.5.5.1 Demand for reliable power supply and plans to limit carbon emissions have increased domestic demand for CHP
10.5.5.5.2 By capacity
TABLE 129 CHP MARKET IN SOUTH AFRICA, BY CAPACITY, 2019–2026 (USD MILLION)
10.5.5.5.3 By prime mover
TABLE 130 CHP MARKET IN SOUTH AFRICA, BY PRIME MOVER, 2019–2026 (USD MILLION)
10.5.5.5.4 By fuel
TABLE 131 CHP MARKET IN SOUTH AFRICA, BY FUEL, 2019–2026 (USD MILLION)
10.5.5.5.5 By end user
TABLE 132 CHP MARKET IN SOUTH AFRICA, BY END USER, 2019–2026 (USD MILLION)
10.5.5.6 Algeria
10.5.5.6.1 Demand to reduce CO2 emissions and add renewables to energy mix to drive market
10.5.5.6.2 By capacity
TABLE 133 CHP MARKET IN ALGERIA, BY CAPACITY, 2019–2026 (USD MILLION)
10.5.5.6.3 By prime mover
TABLE 134 CHP MARKET IN ALGERIA, BY PRIME MOVER, 2019–2026 (USD MILLION)
10.5.5.6.4 By fuel
TABLE 135 CHP MARKET IN ALGERIA, BY FUEL, 2019–2026 (USD MILLION)
10.5.5.6.5 By end user
TABLE 136 CHP MARKET IN ALGERIA, BY END USER, 2019–2026 (USD MILLION)
10.5.5.7 Rest of Middle East & Africa (MEA)
10.5.5.7.1 By capacity
TABLE 137 CHP MARKET IN REST OF MEA, BY CAPACITY, 2019–2026 (USD MILLION)
10.5.5.7.2 By prime mover
TABLE 138 CHP MARKET IN REST OF MEA, BY PRIME MOVER, 2019–2026 (USD MILLION)
10.5.5.7.3 By fuel
TABLE 139 CHP MARKET IN REST OF MEA, BY FUEL, 2019–2026 (USD MILLION)
10.5.5.7.4 By end user
TABLE 140 CHP MARKET IN REST OF MEA, BY END USER, 2019–2026 (USD MILLION)
10.6 SOUTH AMERICA
10.6.1 BY CAPACITY
TABLE 141 CHP MARKET IN SOUTH AMERICA, BY CAPACITY, 2019–2026 (USD MILLION)
10.6.2 BY PRIME MOVER
TABLE 142 CHP MARKET IN SOUTH AMERICA, BY PRIME MOVER, 2019–2026 (USD MILLION)
10.6.3 BY FUEL
TABLE 143 CHP MARKET IN SOUTH AMERICA, BY FUEL, 2019–2026 (USD MILLION)
10.6.4 BY END USER
TABLE 144 CHP MARKET IN SOUTH AMERICA, BY END USER, 2019–2026 (USD MILLION)
10.6.5 BY COUNTRY
TABLE 145 CHP MARKET IN SOUTH AMERICA, BY COUNTRY, 2019–2026 (USD MILLION)
10.6.5.1 Brazil
10.6.5.1.1 Growing power demand from industrial sector is likely to drive Brazilian CHP market
10.6.5.1.2 By capacity
TABLE 146 CHP MARKET IN BRAZIL, BY CAPACITY, 2019–2026 (USD MILLION)
10.6.5.1.3 By prime mover
TABLE 147 CHP MARKET IN BRAZIL, BY PRIME MOVER, 2019–2026 (USD MILLION)
10.6.5.1.4 By fuel
TABLE 148 CHP MARKET IN BRAZIL, BY FUEL, 2019–2026 (USD MILLION)
10.6.5.1.5 By end user
TABLE 149 CHP MARKET IN BRAZIL, BY END USER, 2019–2026 (USD MILLION)
10.6.5.2 Argentina
10.6.5.2.1 Increased power demand and unreliable power supply to drive market
10.6.5.2.2 By capacity
TABLE 150 CHP MARKET IN ARGENTINA, BY CAPACITY , 2019–2026 (USD MILLION)
10.6.5.2.3 By prime mover
TABLE 151 CHP MARKET IN ARGENTINA, BY PRIME MOVER, 2019–2026 (USD MILLION)
10.6.5.2.4 By fuel
TABLE 152 CHP MARKET IN ARGENTINA, BY FUEL, 2019–2026 (USD MILLION)
10.6.5.2.5 By end user
TABLE 153 CHP MARKET IN ARGENTINA, BY END USER, 2019–2026 (USD MILLION)
10.6.5.3 Rest of South America
10.6.5.3.1 By Capacity
TABLE 154 CHP MARKET IN REST OF SOUTH AMERICA, BY CAPACITY , 2019–2026 (USD MILLION)
10.6.5.3.2 By prime mover
TABLE 155 CHP MARKET IN REST OF SOUTH AMERICA, BY PRIME MOVER, 2019–2026 (USD MILLION)
10.6.5.3.3 By fuel
TABLE 156 CHP MARKET IN REST OF SOUTH AMERICA, BY FUEL, 2019–2026 (USD MILLION)
10.6.5.3.4 By end user
TABLE 157 CHP MARKET IN REST OF SOUTH AMERICA, BY END USER, 2019–2026 (USD MILLION)
11 COMPETITIVE LANDSCAPE (Page No. - 173)
11.1 KEY PLAYER STRATEGIES
TABLE 158 OVERVIEW OF TOP PLAYERS, JANUARY 2017– MARCH 2021
11.2 MARKET SHARE ANALYSIS OF TOP FIVE PLAYERS
TABLE 159 CHP MARKET: DEGREE OF COMPETITION
FIGURE 41 CHP MARKET SHARE ANALYSIS, 2020
11.3 REVENUE ANALYSIS OF TOP FIVE MARKET PLAYERS
FIGURE 42 FIVE-YEAR REVENUE ANALYSIS OF TOP FIVE PLAYERS
11.4 COMPANY EVALUATION QUADRANT
11.4.1 STAR
11.4.2 PERVASIVE
11.4.3 EMERGING LEADER
11.4.4 PARTICIPANT
FIGURE 43 COMPANY EVALUATION QUADRANT: CHP MARKET, 2020
TABLE 160 COMPANY PRODUCT FOOTPRINT
TABLE 161 BY CAPACITY FOOTPRINT
TABLE 162 BY PRIME MOVER FOOTPRINT
TABLE 163 BY END USER FOOTPRINT
TABLE 164 BY REGION FOOTPRINT
11.5 COMPETITIVE SCENARIO
TABLE 165 CHP MARKET: PRODUCT LAUNCHES, JANUARY 2017–SEPTEMBER 2021
TABLE 166 CHP MARKET: DEALS, JANUARY 2017–DECEMBER 2020
TABLE 167 CHP MARKET: OTHER DEVELOPMENTS, JULY 2017–SEPTEMBER 2021
12 COMPANY PROFILES (Page No. - 189)
12.1 KEY PLAYERS
(Business and financial overview, Products/Services/Solutions offered, Recent Developments, MNM view)*
12.1.1 GENERAL ELECTRIC
TABLE 168 GENERAL ELECTRIC: BUSINESS OVERVIEW
TABLE 169 GENERAL ELECTRIC: PRODUCTS/SERVICES/SOLUTIONS OFFERED
TABLE 170 GENERAL ELECTRIC: PRODUCT LAUNCHES AND DEVELOPMENTS
TABLE 171 GENERAL ELECTRIC: DEALS
TABLE 172 GENERAL ELECTRIC: OTHERS
12.1.2 SIEMENS ENERGY
TABLE 173 SIEMENS ENERGY: BUSINESS OVERVIEW
TABLE 174 SIEMENS ENERGY: PRODUCTS/SERVICES/SOLUTIONS OFFERED
TABLE 175 SIEMENS ENERGY: DEALS
TABLE 176 SIEMENS ENERGY: OTHERS
12.1.3 VEOLIA
TABLE 177 VEOLIA: BUSINESS OVERVIEW
TABLE 178 VEOLIA: PRODUCTS/SERVICES/SOLUTIONS OFFERED
TABLE 179 VEOLIA: DEALS
TABLE 180 VEOLIA: OTHERS
12.1.4 WÄRTSILÄ
TABLE 181 WÄRTSILÄ: BUSINESS OVERVIEW
FIGURE 47 WÄRTSILÄ: COMPANY SNAPSHOT
TABLE 182 WÄRTSILÄ: PRODUCTS/SERVICES/SOLUTIONS OFFERED
TABLE 183 WÄRTSILÄ: DEALS
TABLE 184 WÄRTSILÄ: OTHERS
12.1.5 2G ENERGY
TABLE 185 2G ENERGY: BUSINESS OVERVIEW
FIGURE 48 2G ENERGY: COMPANY SNAPSHOT
TABLE 186 2G ENERGY: PRODUCTS/SERVICES/SOLUTIONS OFFERED
TABLE 187 2G ENERGY: PRODUCT LAUNCHES AND DEVELOPMENTS
TABLE 188 2G ENERGY: DEALS
TABLE 189 2G ENERGY: OTHERS
12.1.6 MAN ENERGY SOLUTIONS
TABLE 190 MAN ENERGY SOLUTIONS: BUSINESS OVERVIEW
FIGURE 49 MAN ENERGY SOLUTIONS: COMPANY SNAPSHOT
TABLE 191 MAN ENERGY SOLUTIONS: PRODUCTS/SERVICES/SOLUTIONS OFFERED
TABLE 192 MAN ENERGY SOLUTIONS: OTHERS
12.1.7 MITSUBISHI HEAVY INDUSTRIES
TABLE 193 MITSUBISHI HEAVY INDUSTRIES: BUSINESS OVERVIEW
FIGURE 50 MITSUBISHI HEAVY INDUSTRIES: COMPANY SNAPSHOT
TABLE 194 MITSUBISHI HEAVY INDUSTRIES: PRODUCTS/SERVICES/SOLUTIONS OFFERED
TABLE 195 MITSUBISHI HEAVY INDUSTRIES: DEALS
TABLE 196 MITSUBISHI HEAVY INDUSTRIES: OTHERS
12.1.8 CLARKE ENERGY
TABLE 197 CLARKE E ENERGY: BUSINESS OVERVIEW
TABLE 198 CLARKE ENERGY: PRODUCTS/SERVICES/SOLUTIONS OFFERED
TABLE 199 CLARKE ENERGY: PRODUCT LAUNCHES AND DEVELOPMENTS
TABLE 200 CLARKE ENERGY: OTHERS
12.1.9 CATERPILLAR
TABLE 201 CATERPILLAR: BUSINESS OVERVIEW
FIGURE 51 CATERPILLAR: COMPANY SNAPSHOT
TABLE 202 CATERPILLAR: PRODUCTS/SERVICES/SOLUTIONS OFFERED
TABLE 203 CATERPILLAR: PRODUCT LAUNCHES AND DEVELOPMENTS
TABLE 204 CATERPILLAR: OTHERS
12.1.10 AB HOLDING
TABLE 205 AB HOLDING: BUSINESS OVERVIEW
TABLE 206 AB HOLDING: PRODUCTS/SERVICES/SOLUTIONS OFFERED
TABLE 207 AB HOLDING: OTHERS
12.1.11 FUELCELL ENERGY
TABLE 208 FUELCELL ENERGY: BUSINESS OVERVIEW
FIGURE 52 FUELCELL ENERGY: COMPANY SNAPSHOT
TABLE 209 FUELCELL ENEGRY: PRODUCTS/SERVICES/SOLUTIONS OFFERED
TABLE 210 FUELCELL ENERGY: PRODUCT LAUNCHES AND DEVELOPMENTS
TABLE 211 FUEL CELL ENERGY: OTHERS
12.1.12 CAPSTONE GREEN ENERGY
TABLE 212 CAPSTONE GREEN ENERGY: BUSINESS OVERVIEW
FIGURE 53 CAPSTONE GREEN ENERGY: COMPANY SNAPSHOT
TABLE 213 CAPSTONE GREEN ENERGY: PRODUCTS/SERVICES/SOLUTIONS OFFERED
TABLE 214 CAPSTONE GREEN ENERGY: PRODUCT LAUNCHES AND DEVELOPMENTS
TABLE 215 CAPSTONE GREEN ENERGY: DEALS
TABLE 216 CAPSTONE GREEN ENERGY: OTHERS
12.1.13 E.ON
TABLE 217 E.ON: BUSINESS OVERVIEW
TABLE 218 E.ON: PRODUCTS/SERVICES/SOLUTIONS OFFERED
TABLE 219 E.ON: PRODUCT LAUNCHES AND DEVELOPMENTS
TABLE 220 E.ON: DEALS
TABLE 221 E.ON: OTHERS
12.1.14 CUMMINS
TABLE 222 CUMMINS: BUSINESS OVERVIEW
TABLE 223 CUMMINS: PRODUCTS/SERVICES/SOLUTIONS OFFERED
TABLE 224 CUMMINS: PRODUCT LAUNCHES AND DEVELOPMENTS
TABLE 225 CUMMINS: DEALS
TABLE 226 CUMMINS: OTHERS
12.1.15 BOSCH
TABLE 227 BOSCH: BUSINESS OVERVIEW
TABLE 228 BOSCH: PRODUCTS/SERVICES/SOLUTIONS OFFERED
TABLE 229 BOSCH: DEALS
TABLE 230 BOSCH: OTHERS
12.1.16 CENTRICA
12.1.17 TECOGEN
12.1.18 BDR THERMEA GROUP
12.1.19 VIESSMANN WERKE
12.1.20 DALKIA AEGIS, EDF GROUP
12.2 OTHER PLAYERS
12.2.1 CLEARCELL POWER
12.2.2 H3 COMBINED HEAT AND POWER
12.2.3 ENEXOR BIOENERGY
12.2.4 RENEWABLE ENERGY SOLUTIONS ENVIRONMENTAL TECHNOLOGY (RESET)
12.2.5 HELEC LIMITED
*Details on Business and financial overview, Products/Services/Solutions offered, Recent Developments, MNM view might not be captured in case of unlisted companies.
13 APPENDIX (Page No. - 273)
13.1 INSIGHTS OF INDUSTRY EXPERTS
13.2 DISCUSSION GUIDE
13.3 KNOWLEDGE STORE: MARKETSANDMARKETS’ SUBSCRIPTION PORTAL
13.4 AVAILABLE CUSTOMIZATIONS
13.5 RELATED REPORTS
13.6 AUTHOR DETAILS
This study involved major activities in estimating the current size of the Combined Heat and Power (CHP) market. Exhaustive secondary research was done to collect information on the market, peer market, and parent market. The next step was to validate these findings, assumptions, and market sizing with industry experts across the value chain through primary research. Country-wise analysis were used to estimate the total market size. After that, the market breakdown and data triangulation were done to estimate the market size of the segments and sub-segments.
Secondary Research
This research study involved the use of extensive secondary sources, directories, and databases, such as Hoover’s, Bloomberg BusinessWeek, Factiva, and OneSource, to identify and collect information useful for a technical, market-oriented, and commercial study of the global CHP market. The other secondary sources included press releases & investor presentations of companies, white papers, certified publications, articles by recognized authors, manufacturer associations, trade directories, and databases.
Primary Research
The CHP market comprises several stakeholders, such as product manufacturers, service providers, distributors, and end-users in the supply chain. The demand-side of this market is characterized by residential, commercial, utilities and industrial end-users. Moreover, the demand is also driven by the rising demand of increased efficiency of electricity. The supply side is characterized by rising demand for contracts from the industrial, commercial, utilities, and residential sector, and mergers & acquisitions among big players. Various primary sources from both the supply and demand sides of the market were interviewed to obtain qualitative and quantitative information. The breakdown of primary respondents is given below:
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Market Size Estimation
Market Size Estimation Methodology: Top-Down Appoach
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Market Size Estimation Methodology: Bottom-Up Approach
Data Triangulation
After arriving at the overall market size—using the market size estimation processes as explained above—the market was split into several segments and subsegments. To complete the overall market engineering process and arrive at the exact statistics of each market segment and subsegment, data triangulation, and market breakdown procedures were employed, wherever applicable. The data was triangulated by studying various factors and trends from both the demand and supply sides in the CHP market ecosystem.
Report Objectives
- To define, describe, and forecast the size of the combined heat and power market by component, application, communication technology, and region, in terms of value
- To estimate and forecast the global combined heat and power market for various segments with respect to 5 main regions, namely, North America, Europe, Asia Pacific (APAC), South America, and the Middle East & Africa, in terms of value
- To provide detailed information regarding the drivers, restraints, opportunities, and industry-specific challenges that influence the market growth
- To provide a detailed overview of the combined heat and power value chain, along with industry trends, use cases, security standards, and Porter’s five forces
- To strategically analyze micromarkets1 with respect to individual growth trends, prospects, and contribution to the total market
- To analyze the opportunities in the market for stakeholders by identifying high-growth segments and detail the competitive landscape for market players
- To strategically profile key players and comprehensively analyze their market rankings and core competencies2
- To analyze competitive developments, such as joint ventures, mergers and acquisitions, contracts, and agreements, and new product launches, in the combined heat and power market
- To benchmark players within the market using the proprietary competitive leadership mapping framework, which analyzes market players on various parameters within the broad categories of business strategy excellence and strength of product portfolio
- This report covers the combined heat and power market size in terms of value.
Available Customization
With the given market data, MarketsandMarkets offers customizations based on the company’s specific needs. The following customization options are available for the report:
Product Analysis
- Product Matrix, which provides a detailed comparison of the product portfolio of each company
Company Information
- Detailed analyses and profiling of additional market players (up to 5)
Get in-depth analysis of the COVID-19 impact on the Combined Heat and Power Market
Benchmarking the rapid strategy shifts of the Top 100 companies in the Combined Heat and Power Market
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- Triangulate with your Own Data
- Get Data as per your Format and Definition
- Gain a Deeper Dive on a Specific Application, Geography, Customer or Competitor
- Any level of Personalization
- What are the Known and Unknown Adjacencies Impacting the Combined Heat and Power Market
- What will your New Revenue Sources be?
- Who will be your Top Customer; what will make them switch?
- Defend your Market Share or Win Competitors
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Growth opportunities and latent adjacency in Combined Heat and Power Market