Combined heat and power (CHP) cogeneration - good for our pockets and great for the green planet.

Supportive government regulations and policies and abundant supply of natural gas will drive the global combined heat and power (CHP) installation market at a CAGR of 11.7% from 2012 to 2018. Such systems generate heat energy and electricity at the same time. The heat released during the course of generating electricity is captured within combined heat and power systems. Thus, these systems prevent heat loss, thereby increasing the overall efficiency of the power generation process.

High demand for CHP systems can be attributed to surging energy prices and greater regulations concerning emissions and energy consumption. Carbon emissions are reduced by almost 30% in CHP systems when compared to conventional means of energy production.

Micro Combined Heat and Power Installation Segment to Grow Significantly

The global combined heat and power installation market is segmented on the basis of product, application, technology, type of fuel, and geography. Based on product type, this market is segmented into micro, small-scale, and large-scale CHP installations. While small-scale CHP systems are mostly applied in commercial and residential segments, large-scale CHP systems are mostly used in industrial applications.

Despite its marginal share in the market, the micro CHP segment is expected to grow rapidly during the forecast period. Micro, small, and large-scale CHP systems exhibit varied responses to several market applications and needs and they also provide diverse commercial benefits and incentives.

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Industrial, commercial, and residential are the main application segments in the global combined heat and power installation market. The application of CHP systems in the residential and commercial segments has been on the rise over the past couple of years.

Natural Gas to Remain Dominant Fuel Type Used in CHP Installations

On the basis of technology, the global combined heat and power installation market is categorized into reciprocating engine, gas/combustion turbine, steam turbine, combined cycle, and others. These technologies are called prime movers and mainly consume fuels such as oil, biomass, coal, and natural gas for generating electricity.

Based on fuel type, this market is classified into biomass, coal, natural gas, and others. Natural gas is the most extensively used fuel in the overall combined heat and power installation market, since it is quite economical. Apart from being economical, natural gas exhibits consistency in its quality and leaves no residue on burning. Moreover, natural gas does not have any harmful effects, in contrast to other fuels such as oil and coal.

Europe to Retain Dominance over Asia Pacific and North America in Global CHP Installation Market

Geographically, the global combined heat and power installation market is segmented into Europe, Asia Pacific, North America, and the Rest of the World. Europe leads the overall combined heat and power installation market owing to widespread application in residential, commercial, and industrial segments. The growth of the Europe market can also be attributed to high demand for CHP systems from countries such as Belgium, Italy, Russia, France, Poland, Germany, and the Netherlands. The Europe CHP market is also far from maturation and is expected to grow at a strong rate in the coming years.

The second largest regional player in the global combined heat and power installation market is Asia Pacific. High demand from emerging economies such as Japan, India, and China is a key factor that fuels the Asia Pacific combined heat and power installation market. These regions use CHP systems on a massive scale mostly in industrial applications. In Japan, micro-scale CHP systems are the dominant product category due to their widespread application in the residential segment. Canada and the U.S. are the largest subcategories in the North America combined heat and power installation market.

The prominent market players in the global combined heat and power installation market are Caterpillar, Alstom, Ener-G Group, Elite Energy Systems Llc, E.On Group, Dantherm Power, Infinia Corporation, General Electric Energy, Mitsubishi Power Systems Americas Inc., Siemens Energy, Clearedge Power, Bdr Thermea Group, and Aegis Energy Services Inc.

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