What's Driving the Combined Heat and Power Market Growth? Veolia, Siemens, ABB, GE Power, Cummins Inc., Kawasaki Heavy Industries, Caterpillar Inc

Combined Heat and Power Market size exceeded USD 32 billion in 2019 and is anticipated to grow at a rate of over 7% up to 2026.Many of the CHP market players have been attempting to replace their coal powered CHP plants with biomass fueled CHP plants, subject to the rising awareness to maintain green environment, corporate social responsibility, and the growing trend toward the use of renewable energy. For instance, the coal-fueled combined power and heat factory of Dong Energy based in Denmark is believed to transform into a biomass-fueled CHP plant by 2023.

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Leading Key Players in Combined Heat and Power Market are: Kawasaki Heavy Industries, MAN Diesel & Turbo SE, Wartsila, Caterpillar, Yanmar, Veolia, Siemens, ABB, GE, Bosch Thermotechnology, Cummins, Inc., Edina, MWM, Aegis Energy Services, Inc., ENER-G Rudox, Fuel Cell Energy Inc., Viessmann Werke GmbH Co., Mitsubishi Hitachi Power Systems Ltd., The Durr Group, Centrax Gas Turbines, BDR Thermea Group

The Valmet Corporation, a Finnish energy company, is expected to provide Dong Energy with the required equipment for transforming its district heating plant into a bio-based plant. The Finnish firm is also expected to deliver the latter with BFB (bubbling fluidized bed) technology for its 140 MW biomass fueled boiler factory. The one and eight-month steam & district heating agreement signed between Valmet and Dong will help the latter curtail its coal-fired CHP plant operations by 2023, which would undoubtedly provide an impetus to the growth of CHP market.

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Growth Drivers of Combined Heat and Power Market:
o North America
o Reducing dependency on conventional coal fired plant
o Stringent emission norms
o Europe
o Growing adoption of biomass power plants
o Increase demand for district heating
o Asia Pacific
o Increasing industrialization and urbanization
o Increasing clean energy demand

Alongside the growing number of developments witnessed across the Asian countries, it is more likely that the combined heat and power (CHP) industry will also experience substantial growth across European and American belts. The rising government focus for replacing coal powered factories with clean fuel power generation plants with an aim to curb the release of greenhouse gases into the atmosphere will provide an impetus to the growth of combined heat and power (CHP) industry across the U.S. As per the reports from reliable sources, nearly 94 coal-powered plants were shut down in 2015 with the intention of contributing toward the maintenance of a green & clean environment. On that note, it is prudent to state that the U.S. CHP industry will produce 800 MW of combined heat and power by 2024.
With extensive usage of district heating systems across the commercial and residential sectors, Germany combined heat and power industry will experience remarkable expansion in the future. The regional industry in fact, is forecast to generate more than 3 GW of combined heat and power by 2024.

A slew of companies outlining the competitive hierarchy of CHP market such as MAN Diesel & Turbo SE, General Electric Corporation, FuelCell Energy Corporation, Wartsila, Siemens, ABB, and Aegis Energy, it is observed, have indeed made notable contributions toward the overall CHP market share. Taking into consideration the new developments and breakthroughs observed across CHP industry, it no longer remains a supposition that combined heat and power industry will carve out a profitable growth path ahead, with a revenue estimation of USD 45 billion by 2024.

Table Of Content
Chapter 1 Methodology & Scope
1.1 Methodology
1.2 Market Definitions
1.3 Market definition and forecast parameters
1.4 Data Sources
1.4.1 Primary
1.4.2 Secondary
1.4.2.1 Paid sources
1.4.2.2 Public sources
Chapter 2 Executive Summary
2.1 CHP industry 3600 synopsis, 2016 - 2026
2.1.1 Business trends
2.1.2 Fuel trends
2.1.3 End use trends
2.1.4 Capacity trends
2.1.5 Technology trends
2.1.6 Regional trends

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