Cogeneration Equipment Market Size, Share, Industry Analysis, Trends, Report 2023-2028

The latest report published by IMARC Group, titled "Cogeneration Equipment Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028", offers a comprehensive analysis of the industry, which comprises insights on cogeneration equipment market. The report also includes competitor and regional analysis, and contemporary advancements in the global market.

The global cogeneration equipment market size reached US$ 25.6 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 41.6 Billion by 2028, exhibiting a growth rate (CAGR) of 8.71% during 2023-2028.

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Cogeneration equipment, also known as Combined Heat and Power (CHP) systems, is a technology that simultaneously generates electricity and useful thermal energy (such as steam or hot water) from a single energy source, typically natural gas, biomass, or waste heat from industrial processes. These systems are manufactured using a combination of specialized components including gas turbines, steam turbines, reciprocating engines, and heat exchangers. The importance of cogeneration equipment lies in its ability to maximize energy efficiency by utilizing otherwise wasted heat, resulting in reduced greenhouse gas emissions and energy costs. It offers a sustainable solution for various industries, reducing their carbon footprint while improving energy resilience.

Market Trends:

The global market is primarily driven by the growing emphasis on sustainability and environmental responsibility across industries. Additionally, the increasing concern over energy security has led to a heightened interest in cogeneration equipment which is propelling the market growth. Moreover, with the rising frequency and severity of climate-related events, such as storms and wildfires, cogeneration equipment provides a reliable energy source that can withstand such challenges and is impelling market growth. Furthermore, continual advancements in cogeneration technology, including improved system controls, enhanced component efficiency, and better integration with renewable energy sources, are driving increased adoption. In line with this, rapid expansion provides opportunities for businesses to tap into new markets and diversify their energy strategies on a global scale is influencing the growth of this market.

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Competitive Landscape:

The competitive landscape of the market has been studied in the report with the detailed profiles of the key players operating in the market.

• Kawasaki Heavy Industries, Ltd.
• Bosch Group
• Innovative Steam Technologies Inc.
• Kohler Co.
• Mitsubishi Heavy Industries, Ltd.
• Wood PLC (Foster Wheeler AG)
• ANDRITZ AG
• Siemens Aktiengesellschaft
• 2G Energy AG
• ABB Group
• Aegis Energy
• EDF Group
• BDR Thermea Group B.V.
• Baxi Group
• Capstone Turbine Corporation
• Rolls-Royce plc

Cogeneration Equipment Market Segmentation:

Our report has categorized the market based on region, fuel, capacity, technology and application.

Breakup by Fuel:

• Natural Gas
• Biomass
• Coal
• Others

Breakup by Capacity:

• Up to 30 MW
• 31MW -60 MW
• 61 MW- 100 MW

Breakup by Technology:

• Reciprocating Engine
• Steam Turbine
• Combined Cycle Gas Turbine
• Gas Turbine
• Others

Breakup by Application:

• Commercial
• Industrial
• Residential

Breakup by Region:

• North America (United States, Canada)
• Europe (Germany, France, United Kingdom, Italy, Spain, Others)
• Asia Pacific (China, Japan, India, Australia, Indonesia, Korea, Others)
• Latin America (Brazil, Mexico, Others)
• Middle East and Africa (United Arab Emirates, Saudi Arabia, Qatar, Iraq, Other)

Key highlights of the report:
• Market Performance (2017-2022)
• Market Outlook (2023-2028)
• Porter's Five Forces Analysis
• Market Drivers and Success Factors
• SWOT Analysis
• Value Chain
• Comprehensive Mapping of the Competitive Landscape

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This release was published on openPR.