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What's driving the Micro Combined Heat and Power Market trends? VIESSMANN, General Electric, Siemens, Veolia, Vaillant, Marathon Engine System, Micro Turbine Technology, TEDOM, Samad Power

05-26-2020 12:50 PM CET | Energy & Environment

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What's driving the Micro Combined Heat and Power Market trends?

Worldwide Micro Combined Heat and Power market report studies the industry based on one or more segments covering key players, types, applications, products, technology, end-users, and regions for historical data as well as provides forecasts for next few years.

Micro combined heat and power market is earmarked to experience a substantial growth spur over the forthcoming timeframe. Micro combined heat and power is a technology that generates both heat and electricity simultaneously using the same energy source, in buildings or individual homes. The key output of micro-CHP is usually heat with generation of electricity, at a ratio of 6:1 for domestic appliances.

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The size and shape of micro-CHP systems are similar to domestic boilers and could be wall hung or floor standing just like domestic boilers. There are three main technologies of micro-CHP namely, Stirling engine micro-CHP, fuel cell CHP technology, and internal combustion engine CHP. The CHP technology could be deployed quickly with few geographic limitations. The key application areas are industrial, institutional and large commercial sectors.

Factors such as low carbon emissions, easy installation, reduced energy cost, cost-effective performance are seen to be driving the market growth. Domestic micro combined heat and power are presently powered by LPG or main gas. The technology still is considered to be a low carbon technology since it could be more efficient than just burning a fossil fuel for heat as well as by getting electricity from the national grid.

With respect to capacity, the market is classified into < 2kW, 2 ? 10kW, and > 10 ? 50kW. Among these, the growing demand for energy efficient, reliable, and continuous < 2kW power supply to provide space heating, hot water and electricity across single & multi-family has increased the product penetration of

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