Combined Heat and Power Market is Forecasted to Reach US$ 38.91 Billion in 2028, Says Stratview Research

The global Combined Heat and Power market is projected to witness a growth rate of 5.7% annually from 2023 to 2028, with an anticipated size of US$ 38.91 billion by 2028, according to an analysis by Stratview Research.

Stratview Research, a global market research firm has launched a report on the global Combined Heat and Power market which provides a comprehensive outlook of the global and regional market, industry forecast, current & emerging trends, segment analysis, competitive landscape, & more.

Click here to get a free sample of the report:
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Report Highlights:
Market Size in 2028: US$ 38.91 billion
Growth (CAGR): 5.7% during 2023-2028
Forecast Period: 2023-2028
Trend Period: 2017-2021
Base Year: 2022
Number of Segments Covered: 5
Number of Tables & Graphs: 100+

Segment Insights on the Combined Heat and Power Market:

The global Combined Heat and Power market is segmented based on Fuel type, End-Use type, Capacity type, Technology type, and Region.

Based on fuel type - The market is segmented as natural gas, coal, biomass, and others. Natural gas is expected to account for the major share of the market due to its high efficiency, low price, increased production across the globe, and significantly low carbon emissions.

Based on technology type - The market is segmented as a combined cycle, steam turbine, gas turbine, reciprocating engine, and others. The steam turbine is estimated to witness significant growth in the market in the coming years. Steam turbines are one of the most versatile and oldest technologies used in the generation of heat and electricity. The technology is expected to grow significantly in the coming years due to its high reliability, smooth operations, and extremely long operational life when compared to other alternatives.

To know the most attractive segments, visit:
https://www.stratviewresearch.com/2899/combined-heat-and-power-market.html

Which Region Shows the Most Promising Growth Forecast and Opportunity?

North America is estimated to be the leading region in the market during the forecast period. Governments across the region are supporting the region's market growth by establishing strict carbon emission targets, as a result of which countries are reducing their reliance on coal-powered power plants and introducing cleaner fuels into their energy mix. Furthermore, rising demand for clean energy is expected to drive market growth in the coming years.

Combined Heat and Power Market Drivers:
Some of the key drivers listed in the report are given below.
• Ongoing investments to reduce the reliance on conventional coal-fired power plants.
• Rising demand for clean energy.
• Increasing urbanization and industrialization.
• Growing adoption of biomass power.

Top Companies in the Combined Heat and Power Market:
Stratview Research has identified the following companies as the top market players.
• 2G Energy AG
• Caterpillar Inc.
• General Electric
• Kawasaki Heavy Industries, Ltd.
• MAN Energy Solutions SE
• Siemens AG
• Veolia Environment S.A.
• VIESSMANN Manufacturing Company Inc.
• Wärtsila
• Yanmar Co., Ltd.
Note: The above list does not necessarily include all the top players in the market.

What Unique Insights Does This Report Offer?

This report provides comprehensive insights into the Combined Heat and Power Market, answering critical questions like:

• How big is the sales opportunity?
• Which regions offer the best sales opportunities?
• Which are the most attractive market segments?
• Which are the top players and their market positioning?
• How complex is the business environment?
• What are the factors affecting the market?

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Stratview Research is a global market research firm that highly specializes in aerospace & defense, chemicals, and a few other industries.

It launches a limited number of reports annually on the above-mentioned specializations. Thorough analysis and accurate forecasts in this report enable the readers to take convincing business decisions.

Stratview Research has been helping companies meet their global and regional growth objectives by offering customized research services. These include market assessment, due diligence, opportunity screening, voice of customer analysis, market entry strategies, and more.

This release was published on openPR.