Growing Adoption Of Biomass Power Fuels Expansion In The Combined Heat And Power Market: Strategic Insights Driving Combined Heat And Power Market Momentum in 2025

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How Large Will the Combined Heat And Power Market Size By 2025?
The expansion of the combined heat and power market has been substantial in the past few years. Its growth is projected to rise from $29.17 billion in 2024 to $30.65 billion in 2025, registering a compound annual growth rate (CAGR) of 5.1%. This growth during the past period can be credited to a number of factors including the goals for energy efficiency, industrial cogeneration, environmental regulations and the rise in combined cooling, heating, and power (CCHP) applications. Additionally, the development of district heating and cooling projects, the recovery of waste heat, the decentralization of energy creation, and a greater understanding of the benefits of CHP have also contributed.

How Big Is the Combined Heat And Power Market Size Expected to Grow by 2029?
The market size of combined heat and power is on track for robust expansion in the coming years, with projections predicting it could reach up to $40.58 billion by 2029, with a compound annual growth rate (CAGR) of 7.3%. The anticipated growth during this forecast period is credited to shifts toward low-carbon energy systems, the integration of smart grids, resilience planning for crucial infrastructure, urbanization, district energy networks, as well as biogas and biomass CHP projects, and micro-CHP support in domestic environments. Some of the noteworthy trends during this period are energy-as-a-service (EaaS) models, consolidation and alliance of markets, remote tracking and management, technological progress, grid resilience and reliability, cooperation between utilities and CHP suppliers, along with advancements in fuel cell CHP systems.

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Which Key Market Drivers Powering Combined Heat And Power Market Expansion and Growth?
The surge in the utilization of biomass power is a key factor propelling the growth of the combined heat and power market. Energy generated from living or previously living organisms, like plants, is what refers to as biomass power. This energy can be harnessed by burning these organisms to generate heat or transformed into electricity. The combined heat and power (CHP) systems leverage biomass in generating energy through the process of biomass gasification. This process is critical not only in the operation of micro-CHPs but also in the creation of hydrogen energy systems by integrating biomass gasification to utilize biomass feedstock in the production of fuel cells. For example, the U.S. Energy Information Administration (EIA) projected in April 2024 that renewables are set to represent 24% of U.S. electricity generation, with an anticipated increase to 25% by 2025. In this renewable energy landscape, biomass is slated to provide around 2.27% to the renewable electricity generation in 2024. As such, the expanding utilization of biomass power is predicted to drive the advancement of the combined heat and power market in the upcoming years.

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Which Fast-Growing Trends Are Poised to Disrupt the Combined Heat And Power Market?
Leading firms in the combined heat and power industry, such as Bloom Energy, are developing breakthrough technologies like the Bloom Energy Server to boost their market profitability. The Bloom Energy Server is an advanced fuel cell energy generation system launched in February 2023 by U.S.-based renewable energy firm, Bloom Energy. This innovative system can generate electric power adjusted to different energy needs while maintaining a small modular footprint. Exceptionally, the Bloom Energy Server affords clean, reliable, and fairly priced energy solutions by dispensing constant, dependable on-site power. Thanks to its flexibility and scaleability, this system can be utilized across various locations and industries. Interestingly, the system is fuel-flexible, capable of creating energy from natural gas, mixed hydrogen, biogas, and hydrogen. The system operates on Solid Oxide technology and functions at high temperatures.

What Are the Emerging Segments in the Combined Heat And Power Market?
The combined heat and powermarket 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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Who Are the Global Leaders in the Combined Heat And Power Market?
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

Which are the Top Profitable Regional Markets for the Combined Heat And Power Industry?
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.

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