MCHP (Micro Combined Heat and Power) Market 2020 Global Industry Segmented by Type, Technology, Application, Trends, Growth Factor, Key Players and Segmentation to 2023

Market Research Future (MRFR) has recently published an in-depth report on the global MCHP market after meticulous analysis of teh pertinent trends and factors that can affect the growth of the market over the forecast period of 2018-2023. MRFR's analysis has projected a CAGR of 15.5% over the forecast period. Micro-combined heat and power (MCHP) is a next generation power solution that ideally cater to the space heating or cooling demands in buildings along with providing electricity supply which can alleviate the need for grid supply. The MCHP technology is ideally suited to be applied in commercial, residential, and public buildings and have gained widespread adoption in recent years.

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Industry Highlights

Transition in energy systems has become rampant all over world. The focus is shifting towards application of new-age technologies for power generation, and power management. Moreover, the rising Co2 emission has necessitated the use of clean technologies. The growing consumption of emerging is prompting authorities to seed solutions that sustainable in the long run. This has created significant market opportunities for decentralized energy systems. Combined Heat and Power (CHP) technology has gained significant momentum in recent years and is touted as a future-ready solution by its proponents.

Energy systems across the globe is experiencing a transition and power generation sources are increasingly becoming decentralized. Decentralization helps to keep teh market competitive as well as fulfill the energy demands effectively. Combined Heat and power (CHP) technology is capable of generating electricity and thermal heat, simultaneously, from the same source. The technology is gaining widespread adoption as it offers energy efficeinecy as muxch as upto 80%. Micro-combined heat and power (MCHP) is particularly designed for meeting the nergyv demands of small buildings. The government in multiple countries are supporting teh case for MCHP which has generated massive demand within teh market.

Competition Tracking

Vaillant Group (Germany), Ceres Power Holdings PLC (U.K), Aisin Group (Japan), Centrica plc (U.K), Viessmann Group (Germany), Nucusa Energy (U.S.), Solid Power (U.S.), Honda Power (Japan), Dantherm Power (Denmark), Yanmar Holdings Co. Ltd. (Japan), Mondragon Corporation (Spain), BDR Thermea Group (U.K) and Qnergy (U.S.) are among the leading companies operating in the global MCHP market.

Global MCHP (Micro Combined Heat and Power) Market: Segmental Analysis

MRFR's report includes a detailed segmental analysis of the market based on application, technology, type and region.

On the basis of application, the market has been bifurcated into commercial and residential. The commercial segment holds the dominant position and the trend in likely to continue beyond 2019. Increased government support in driving the adoption of MCHP in commercial verticals. By technology, the market has been segmented into PEMFC, stirling engine, internal combustion engine, SOFC and rankine cycle engine. Of these, the SOFC segment and the Stirling engine segment is expected to exhibit a relatively higher growth during the assessment period. This is mainly owing to higher efficiency of SOFC MCHP and Stirling engine MCHP. These technologies are environmentally friendly, which is also driving their popularity. By type, the market has been segmented into fuel-cell based and engine based. The fuel-cell based segment is likely to retain its dominant position over the forecast period. Over the years, the fuel cell technology has undergone several phases of evolution making it far more efficient than any other conventional power generation system.

Regional Analysis

Regio-wise, teh MCHP market has been segmented into North America, Rest-of-the-World (RoW), Europe, and Asia Pacific (APAC).

Europe is one of teh significant revenue pockets for MCHP. The growth of the Europe market can be attributed to the region's focus towards clean and energy efficient systems. The European countries experience frigid weather conditions due to which heating of residential and commercial buildings are desirable throughout the year, thereby generating high demand for MCHP systems. The governments in the region are advocating teh installation of MCHP systems which further aid teh growth of the market. The implementation of Energy Efficiency Directive at country level has also supported the growth of the MCHP market in Europe.

The APAC is likely to be teh fastest growing market for MCHP over the forecast period. Augmenting demand for power generation from teh developing countries of the region combined with Japanese companies increasing market activity is auguring teh growth of the market. Japan is the most significant contributor to the MCHP market.

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