250 Pages Combined Heat and Power (CHP) Systems Market Survey by Fact MR, A Leading Business and Competitive Intelligence Provider
The global COVID-19 pandemic has turned several industries upside down by causing disruptions in their daily operations and limiting the supply of raw materials, hampering production and growth.
The report offers actionable and valuable market insights of Combined Heat and Power (CHP) Systems. The latest report by Fact.MR provides details on the present scenario of the market across various regions along with the historic data and forecast of the market. The report also includes information on the sales and demand of Combined Heat and Power (CHP) Systems Market across various industries and regions.
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The global combined heat and power systems (CHP) market will likely expand 1.5x until 2031, bucking initial scepticism about how the market would perform during a global pandemic. Total sales of combined heat and power systems is estimated to reach US$ 26 Bn by 2031.
As per Fact.MR, demand for CHP abounds in the industrial sector and is the segment with the greatest potential for growth. Advocates for energy efficiency have set a goal of increasing CHP capacity to 20% by 2031.
The market study done by Fact.MR gives exclusive information about how the market will grow. The study identifies crucial trends that are determining the growth of Combined Heat and Power (CHP) Systems market. This newly published report sheds light on vital dynamics, such as the drivers, restraints, and opportunities for key market players as well as emerging players associated with the production and supply. The latest report by Fact.MR provides detailed Market Analysis of Combined Heat and Power (CHP) Systems
This newly published and insightful report sheds light on Market Insights of Combined Heat and Power (CHP) Systems, key dynamics, their impact on the overall value chain from suppliers to end-users and Growth of Combined Heat and Power (CHP) Systems Market.
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Key Segments Covered
- CHP Systems Up to 30 MW
- CHP Systems 30 MW to 60 MW
- CHP Systems Above 60 MW
- Natural Gas powered CHP Systems
- Coal powered CHP Systems
- Biomass powered CHP Systems
- Other Renewable Resources powered CHP Systems
- Gas Turbines powered CHP Systems
- Steam Turbines powered CHP Systems
- Gas Engines powered CHP Systems
- Fuel Cells powered CHP Systems
- Industrial CHP Systems
- Residential CHP Systems
- Commercial CHP Systems
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Prominent players are embracing innovative approaches such as ground-breaking marketing tactics, technological advancements, mergers, and acquisitions.
- In March 2021, The European Marine Energy Centre (EMEC) collaborated with Highlands and Islands Airports Limited (HIAL) to decarbonise heat and power at Kirkwall Airport through green hydrogen technology.
- 2G Energy was selected to deliver a CHP plant which generates heat and electricity of 100% hydrogen – The first one in the UK.
- In July 2021, Capstone Green Energy signed a 10-year service contract on 1.2 MWs of micro-turbines installed in the fourth-tallest building in New York City. The skyscraper’s 1.2 MW energy efficiency plant consists of two Capstone C600S microturbines with Capstone’s Integrated Heat Recovery Modules.
Key Takeaways from CHP Systems Market Study
- Under the impact of COVID-19, the global combined heat and power systems market is expected to create an absolute $ opportunity of more than US$ 8 Bn, and is expected to expand at a value CAGR of around 4% during the forecast period.
- By product, 30 MW to 60 MW CHP systems will account for 59% of the overall demand pie in 2020, and are foreseen to surpass a market valuation of US$ 14 Bn by the end of 2030.
- By prime mower, gas turbines are projected to progress at a value CAGR of around 4%, and are expected to be valued 1.8X more than steam turbines by the end of 2030.
- By fuel type, natural gas is projected to account for 62% of the total sales in 2020, and is anticipated to create an absolute $ opportunity of more than US$ 5 Bn during the forecast period.
- The CHP systems market in Europe is projected to be valued 1.5X more than North America. However, East Asia is estimated to account for a major chunk of demand by the end of the forecast period.
- By application, the industrial segment is projected to surpass a market valuation of US$ 13 Bn by the end of 2030, and is anticipated to expand at a value CAGR of around 3% over the forecast period.
“The downtrend witnessed in end-use industries amid the COVID-19 pandemic is anticipated to decelerate the demand for CHP systems in the near future. However, the long-term outlook for the CHP systems market remains positive across the world, owing to the need for reduction in carbon emissions and improved power generation in industries,” says a Fact.MR analyst.
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More Valuable Insights on Combined Heat and Power (CHP) Systems Market
Fact.MR, in its new report, offers an unbiased Market Analysis of Combined Heat and Power (CHP) Systems, Sales and Demand of Combined Heat and Power (CHP) Systems, analyzing forecast statistics through 2019 and beyond. The study reveals growth projections on the basis of various criteria.
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