Growing Adoption Of Biomass Power Fuels Expansion In The Combined Heat And Power Market: A Significant Driver Propelling The Combined Heat And Power Market In 2025

The Combined Heat And Power Market Report by The Business Research Company delivers a detailed market assessment, covering size projections from 2025 to 2034. This report explores crucial market trends, major drivers and market segmentation by [key segment categories].

What Is the Combined Heat And Power Market Size and Projected Growth Rate?
The market size for the combined heat and power has seen significant growth over the recent years. The market value is projected to rise from $29.17 billion in 2024 to an increased $31.01 billion in 2025, with a compound annual growth rate (CAGR) of 6.3%. Several factors have contributed to this growth during the historic timeframe, including targets for energy efficiency, cogeneration in industries, compliance with environmental regulations, more applications of combined cooling, heating, and power (CCHP), projects related to district heating and cooling, recovery of waste heat, energy generation decentralization, as well as improved public perception of the benefits of combined heat and power.

Expectations indicate a robust expansion in the market size of combined heat and power over the next few years. The market is predicted to balloon to $41.61 billion by 2029, displaying a compound annual growth rate (CAGR) of 7.6%. The projected growth for the forecast period may be due to a shift towards low-carbon energy systems, smart grid integration, resilience planning in key infrastructure, developments in urbanization and district energy networks, and the introduction of biogas and biomass CHP projects, including support for micro-CHP in residential areas. Key trends for the forecast period cover energy-as-a-service (EaaS) models, market consolidation coupled with partnerships, remote surveillance and control, technological progression, grid robustness and reliability, collaborations between utilities and CHP providers, and forward strides in fuel cell CHP systems.

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What Are the Major Segments in the Combined Heat And Power Market?
The combined heat and power market covered in this report is segmented -

1) By Fuel: Natural Gas, Coal, Biomass, Other Fuel
2) By Technology: Combined Cycle, Steam Turbine, Gas Turbine, Reciprocating Engine, Other Technologies
3) By Capacity: Up To 10 MW, 10-150 MW, 151-300 MW, Above 300 MW
4) By End-Use: Commercial, Industrial, Residential, Utilities, Other End-Uses

Subsegments:
1) By Natural Gas: Gas Turbines, Reciprocating Engines
2) By Coal: Coal-Fired Boilers, Integrated Gasification Combined Cycle (IGCC)
3) By Biomass: Wood Chips, Agricultural Residues
4) By Other Fuel: Oil, Waste Heat Recovery

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What Are The Driving Combined Heat And Power Market Evolution?
The combined heat and power market is being propelled by the escalating usage of biomass power. Biomass power pertains to the energy harnessed from living or dead organisms such as plants, whereby energy garnered from these organisms can be incinerated to create heat or converted into electricity. Biomass is employed in combined heat and power (CHP) systems to generate energy through the process of biomass gasification and in the creation of micro-CHPs and hydrogen energy systems, integrating biomass gasification to utilize biomass feedstock to produce fuel cells. As per the U.S. Energy Information Administration (EIA), a US-centric agency that amasses and disseminates energy information, renewables are anticipated to make up 24% of U.S. electricity generation by April 2024, and surge to 25% by 2025. In this renewable energy division, biomass is set to roughly contribute 2.27% towards renewable electricity generation in 2024. Therefore, the escalating usage of biomass power is anticipated to stimulate the expansion of the combined heat and power market in the forthcoming years.

Which Firms Dominate The Combined Heat And Power Market Segments?
Major companies operating in the combined heat and power market are General Electric Company, Siemens AG, Veolia Environnement S.A., Wärtsilä Oyj Abp, 2G Energy AG, Capstone Green Energy Corporation, Caterpillar Inc., Dalkia Aegis EDF Group LLC, Bosch Industriekessel GmbH, Centrica PLC, Cummins Inc., Kawasaki Heavy Industries Ltd., The Viessmann Group, Kohler Co., Elite Energy Systems LLC, MAN Energy Solutions SE, Centrax Gas Turbines, ABB Limited, Tecogen Inc., Aegis Energy Services Inc., Curtis Engine & Equipment Co. Inc., Rolls-Royce Power Systems AG, Mitsubishi Heavy Industries Ltd., Doosan Fuel Cell America Inc., FuelCell Energy Inc., Bloom Energy Corporation, ClearEdge Power Inc., Ceres Power Holdings PLC, Ceramic Fuel Cells Limited, Ballard Power Systems Inc., Plug Power Inc., Hydrogenics Corporation, ITM Power PLC, AFC Energy plc

What Trends Are Expected to Dominate the Combined Heat And Power Market in the Next 5 Years?
In an attempt to boost their market profitability, key players in the combined heat and power market are resorting to innovative technological offerings like the Bloom Energy Server. The US-based green energy firm, Bloom Energy, in February 2023, unveiled the Bloom Energy Server, a trailblazing tool that uses a fuel cell power generation system to aptly cater to a diverse set of energy needs, in spite of its compact modular size. The Bloom Energy Server is distinguished by its provision of a stable, powerful and inexpensive energy fix, by supplying onsite power that is reliable and consistent. Given the server's flexibility and extensibility to accommodate a wide range of application energy needs, it has found utility across different locations and industries. The system's compatibility with different fuel sources such as natural gas, mixed hydrogen, biogas and hydrogen only adds to its versatility. Functioning on Solid Oxide technology, it operates at high temperatures.

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Which Is The Largest Region In The Combined Heat And Power Market?
Asia-Pacific was the largest region in the combined heat and power market in 2024. Asia-Pacific is expected to be the fastest-growing region in the global combined heat and power (CHP) market share during the forecast period. The regions covered in the combined heat and power market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

Frequently Asked Questions:
1. What Is the Market Size and Growth Rate of the Combined Heat And Power Market?
2. What is the CAGR expected in the Combined Heat And Power Market?
3. What Are the Key Innovations Transforming the Combined Heat And Power Industry?
4. Which Region Is Leading the Combined Heat And Power Market?

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