Press release
Micro Combined Heat & Power (Micro CHP) Market 2022: Growing Demand Analysis by Companies Strategy, Developments, Market Position, Opportunities, and New Product Launches
The Micro Combined Heat & Power (Micro CHP) Market report is a valuable source of insightful data for business strategists. It provides the industry overview with growth analysis and historical & futuristic cost, revenue, demand, and supply data (as applicable). The research analysts provide an elaborate description of the value chain and its distributor analysis. This Market study provides comprehensive data that enhances the understanding, scope, and application of this report. The market report additionally gives a to-the-point evaluation of the techniques and plans of action that are being executed by the players and companies to contribute to the Micro Combined Heat & Power (Micro CHP) market growth.The Global Micro Combined Heat & Power (Micro CHP) Market Size is Projected to Reach at a CAGR of 15% during 2022-2027.
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Market Overview
Biogas-based micro CHP systems are expected to witness significant growth during the forecast period.
The Office of Fossil Energy, under the US Department of Energy, has announced nearly USD 30 million in federal funding for cost-shared research and development projects for small-scale solid oxide fuel cell (SOFC) systems and hybrid energy systems. The funding seeks to develop advanced technologies for the SOFC hybrid system using solid oxide electrolyze cell technologies. Such steps to develop fuel cell technology is likely to be adopted in the fuel cell micro CHP systems and would create an opportunity for the market to grow in the near future.
Asia-Pacific is likely to dominate the market during the forecast period, with the majority of the demand coming from Japan and China.
Top Leading Companies:
Honda Power, BDR Thermea, Viessmann, Yanmar Holdings, Vaillant, Ener-G Cogen International, Ceres Power Holdings, Qnergy, Topsoe Fuel Cell, Whisper Tech, Dantherm Power, Solid Power, Aisin
Recent Developments
In April 2020, Magnex and Elcogen signed LOI commercial agreement for SOFC commercialization. Magnex Co. Ltd is developing a 250 W SOFC portable system, 1 kW SOFC cell stack, and 1-5 kW SOFC combined heat and power generation (CHP) system, which is fueled by bio-gas or ethanol. The company is targeting Japanese and Korean markets with the help of Elcogen’s low operating temperature technology, thus, allowing the use of low-cost materials and cost-efficient system design.
Micro Combined Heat & Power (Micro CHP) Market Segmentation by Type:
≤2 kW
2-10kW
10-50kW
>50kW
Micro Combined Heat & Power (Micro CHP) Market Segmentation by Application:
Residential
Commercial
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Asia-Pacific to Dominate the Market
Asia-Pacific is the largest market for micro CHP in the world and is expected to continue to maintain this dominance during the forecast period as well. The region’s micro-CHP market is mainly dominated by Japan and a few emerging countries, such as China and South Korea.
In Japan, in recent years, fuel cell-based micro-CHP has become a widely preferred form of heat and electricity generation in residential and commercial segments, such as hotels, public facilities, hospitals, Institutions, to incur power savings and for reliable energy supply. The sales of micro-CHP by the Ene-Farm program began in 2009 in the country, much ahead of the rest of the world.
Regional Micro Combined Heat & Power (Micro CHP) Market (Regional Output, Demand & Forecast by Countries)
North America (United States, Canada, Mexico)
South America (Brazil, Argentina, Ecuador, Chile)
Asia Pacific (China, Japan, India, Korea)
Europe (Germany, UK, France, Italy)
Middle East Africa (Egypt, Turkey, Saudi Arabia, Iran) And additional.
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Highlights of the Micro Combined Heat & Power (Micro CHP) Market Report:
Detailed overview of Micro Combined Heat & Power (Micro CHP) Market
Changing the Micro Combined Heat & Power (Micro CHP) market dynamics of the industry
In-depth market segmentation by Type, Application, etc.
Historical, current and projected Micro Combined Heat & Power (Micro CHP) market size in terms of volume and value
Recent industry trends and developments
Competitive landscape of Micro Combined Heat & Power (Micro CHP) Market
Strategies of key players and product offerings
Potential and niche segments/regions exhibiting promising growth.
The research includes historic data from 2016 to 2022 and forecasts until 2027 which makes the report an invaluable resource for industry executives, marketing, sales, and product managers, consultants, analysts, and stakeholders looking for key industry data in readily accessible documents with clearly presented tables and graphs.
Finally, the Micro Combined Heat & Power (Micro CHP) Market report is the believable source for gaining the market research that will exponentially accelerate your business. The report gives the principle locale, economic situations with the item value, benefit, limit, generation, supply, request, and market development rate and figure, and so on. Micro Combined Heat & Power (Micro CHP) industry report additionally Presents a new task SWOT examination, speculation attainability investigation, and venture return investigation.
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– Free country Level analysis for any 5 countries of your choice.
– Free Competitive analysis of any 5 key market players.
– Free 40 analyst hours to cover any other data point.
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