Micro Combined Heat and Power Market | Notable players include Honda Power, Vaillant, Viessman, Ceres Power Holdings, Yanmar Holdings, BDR Thermea, Solid Power, Qnergy, Aisin, Dantherm Power and Topsoe Fuel Cell

Global Micro Combined Heat and Power Market size is set to grow substantially during the forecast timeframe. Micro combined heat and power (CHP) technology generates both heat and usable electricity. Natural gas is used as a fuel for the generation of heat and power. Micro CHP is a small heat engine that drives the generator to produce heat and electricity.

Changing energy scenario and attempts from government for sustainable utilization of existing resources will increase the business growth. Need for low carbon emission technologies will drive the micro combined heat and power market in the forecast period. Cost effective performance coupled with easy installation will boost its demand over other technologies including boilers. Adoption of micro CHP systems is increasing with growing fuel poverty, reduced carbon emissions, climatic changes and energy security. Complicated metering arrangements and network connections will hinder the growth for micro combined heat and power market. Heating segment is dominated by condensing boilers which acts as a restraining factor for the micro combined heat and power market.

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Fuel cell based, and engine based are two types of micro CHP systems. Fuel cell-based systems are most widely used owing to their preferability for continuous operation purpose. The demand for fuel cell-based systems is driven by the rising demand for zero emission energy sources. Japan holds the dominant share for fuel cell-based systems subject to the subsidies provided by Japanese government for the development of clean and green technologies.

Based on technology, global micro combined heat and power market is segmented into Stirling Engine, Rankine Cycle Engine, Internal Combustion Engine, Proton Exchange Membrane Fuel Cell (PEMFC) and Solid Oxide Fuel Cell (SOFC). Leading share is held by PEMFC subject to its avoidance of thermal cycling and low heat-to-power ratio.

Micro CHP systems can be implemented for residential and commercial applications. The demand in residential applications is mostly in the developing countries and hence will dominate the global Micro combined heat and power market. Favorable government policies and focus on reduction of greenhouse gases will increase the implementation of residential micro CHP systems.

in North AmericaIncrease in the production of natural gas in North America and hike in electricity prices will drive the micro combined heat and power market. In the U.S., demand for reliable on-site electricity supply against power outage will increase the adoption of micro CHP systems. Abundant and cheap natural gas in Canada will boost the implementation of micro CHP systems for generating heat and electricity.

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Adoption of renewable energy coupled with growing climatic concerns will augment the growth of micro combined heat and power market in European countries. Germany records low temperature throughout the year which requires the installation of micro CHP systems to provide heat and electricity at the same time with negligible carbon emissions. UK government has identified the installation micro CHP systems as a measure to mitigate carbon footprints.

Depletion of conventional source of energy and rising energy demand in developing countries of this region will boost the installation of CHP systems. Allocation of fund by governments to various micro CHP companies will drive the micro combined heat and power market in Asia-Pacific region. Energy efficiency benefits facilitated by Micro CHP systems will drive the business growth in Japan, being an import dependent nation.

What Information does this report contain?

• Historical data coverage: 2013 to 2016; Growth Projections: 2017 to 2024.

• Expert analysis: industry, governing, innovation and technological trends; factors impacting development; drawbacks, SWOT.

• 6-7-year performance forecasts: major segments covering applications, top products and geographies.

• Competitive landscape reporting: market leaders and important players, competencies and capacities of these companies in terms of production as well as sustainability and prospects.

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