Cogeneration Equipment Market: Revenue Growth is Making Marketplace Explosive

Rise in environmental concerns across the world drives the growth of the global cogeneration equipment market. Also, the fact that cogeneration often reduces energy use and it is a cost-effective process that also improves security of energy supply has supplemented the market growth yet more. However, developing gas infrastructure across the world is expected to pave the way for lucrative opportunities in the industry.

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Cogeneration equipment are the equipment used in cogeneration such as air compressor, steam generator & turbine, gas generator & turbine, combustion chamber, condenser, pump and many other. All these equipment is assembled to form a cogeneration system to convert mechanical energy into two different energies named electrical and thermal. Cogeneration systems are of different types such as steam-based cogeneration, gas-based cogeneration and many others. Nowadays, growth in awareness toward reducing environmental pollution and stringent government regulations are expected to create opportunities for the cogeneration equipment.

The global cogeneration equipment market analysis covers in-depth information of the major industry participants. The key players operating and profiled in the cogeneration equipment industry report include Tecogen, Inc., Siemens, General Electric, Kawasaki heavy industries Ltd., Robert BOSCH Gmbh, Clarke Energy, Mitsubishi heavy industries Ltd., A.B. Holding S.P.A., 2G Energy AG.

The global congregation equipment market is analyzed across fuel, capacity, technology, application, and region.

Based on fuel, the natural gas segment held the major share in 2020, garnering nearly three-fifths of the global market. However, the diesel segment would cite the fastest CAGR of 9.9% during the forecast period.

On the basis of capacity, it is bifurcated into high capacity and medium capacity. On the basis of technology, it is segmented into steam turbine, gas turbine, combined steam/gas turbine-based cogeneration system and reciprocating engine. The applications covered in the study include commercial, industrial and residential. Region wise, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.

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By technology, the steam turbine segment accounted for nearly three-fifths of the total market revenue in 2020, and is anticipated to retain its dominance by 2030. The gas turbine segment, on the other hand, would grow at the fastest CAGR of 9.7% from 2021 to 2030.

Based on region, the market across Asia-Pacific contributed to the major share in 2020, holding nearly two-fifths of the global cogeneration equipment market. The same region would also register the fastest CAGR by 9.6% from 2021 to 2030. Other provinces studied in the report include North America, LAMEA, and Europe.

The global cogeneration market is analyzed and estimated in accordance with the impacts of the drivers, restraints, and opportunities. The period studied in this report is 2020-2030. The report includes the study of the market with respect to the growth prospects and restraints based on the regional analysis. The study includes Porter's five forces analysis of the industry to determine the impact of suppliers, competitors, new entrants, substitutes, and buyers on the market growth.

Key Findings Of The Study:
• On the basis of fuel, the natural gas segment emerged as the global leader around 58.7% of the global cogeneration equipment market share in 2020, and is anticipated to be the largest markets during the forecast period.
• On the basis of capacity type, the high-capacity segment emerged as the global leader by acquiring around 43.6% of the global market share in 2020, and is anticipated to be the largest markets during the forecast period.
• On the basis of technology, the steam turbine segment registered the highest market share of around 56.9% and is projected to maintain the same during the forecast period.
• On the basis of application, the commercial segment registered the highest market share of around 60.32% and is projected to maintain the same during the forecast period.
• On the basis of region, Europe registered the highest market share of around 39.89% and is projected to maintain the same during the forecast period.

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