Press release
Combined Heat and Power (CHP) Installation Systems - Global Industry Analysis 2024
BDR Thermea Group B.V. held the largest share in the global CHP installation market in 2014, as per TMR analysis. Some of the most prominent enterprises operating in the market include 2G Energy AG, Siemens AG, Edina Ltd., Wärtsilä Corporation, ENER-G Holdings Plc (ENER-G), Clarke Energy Ltd., and others. The top eight companies hold 53% of the global combined heat and power installation market.
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The demand for CHP systems mainly arises for industrial applications, followed by commercial and residential applications. As the industrial segment accounts for the largest share in the market, it holds lesser scope for growth compared to the residential and commercial application segments. As per TMR, the U.S., Japan, and Germany are at the fore of adopting CHP systems for commercial and residential applications.
Strong Existing CHP Networks Facilitate CHP Installations Globally
CHP systems sales worldwide are riding on the strong existing CHP network. Furthermore, the increasing awareness regarding the benefits of CHP systems will boost their installations across emerging economies of Asia Pacific. Since the last few years, these countries have been exhibiting high demand for energy-efficient technologies. Developing countries therefore offer attractive opportunities for the vendors operating in the market.
TMR forecasts the value chain of the global CHP installation market to remain highly complicated during the forecast period from 2014 to 2024. “The implementation of stringent emission control norms worldwide has compelled leading enterprises to adopt forward integration. Such strategies could have an adverse impact on the market’s growth trajectory,” said a TMR analyst. “Combined with this, the high cost incurred on installing CHP systems is also inhibiting the large-scale proliferation of CHP installations,” he added. Nevertheless, increasing scope in the residential and commercial sector is expected to boost the prospects for the market in the near future.
Large-scale CHPs to Lose Market Share to Micro & Small CHPs in the Forecast Period
By type, large-scale CHPs hold a dominant share of 85.69% in the global CHP installation market, followed by micro- and small scale CHPs in 2014. However, they are expected to lose a significant part of their market share to the latter in the near future. The rising usage of micro- and small-scale CHPs across residential and commercial sector will enable the segment to report the fastest CAGR during the forecast period. However, the increasing CHP installation in India and China will keep the demand for large-scale CHPs high in the forthcoming years.
Easy Availability of Natural Gas Boosts Prospects for CHP Installations in Europe
Regionally, Europe emerged as the largest market for CHP installations in 2014. The region accounted for a share of 67.96% in the overall market in 2014. The easy availability of natural gas in Russia, has significantly contributed to the increased demand for CHP installations in Europe. Other countries in Europe exhibiting increasing demand for CHP installations include Germany, Poland, Belgium, Italy, and the Netherlands.
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Leading companies operating in the market are also looking to explore untapped opportunities in the Asia Pacific market.
Driven by the increased demand across emerging economies, the global combined heat and power installation market is poised to surge at 4.38% CAGR. TMR pegs the market’s valuation at US$524.89 bn in 2014. By the end of 2024, the market is expected to reach US$812.80 bn.
This review is based on the findings of a TMR report, titled “Combined Heat and Power (CHP) Installation Market - Global Industry Analysis, Size, Share, Growth Trends, and Forecast 2016 – 2024.”
The report segments the global combined heat and power installation market at:
CHP Installation Market: By CHP Type
Large-scale CHP
Micro & Small-scale CHP
CHP Installation Market: By CHP Application
Residential
Commercial
Industrial
CHP Installation Market: By CHP Technology
Combined Cycle
Steam Turbine
Combustion/Gas Turbine
Reciprocation Engine
Others (Microturbine, Fuel Cell, and Waste Heat Recovery)
CHP Installation Market: By Fuel
Natural Gas
Coal
Biomass
Others (Wood, Waste Heat, and Oil)
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Transparency Market Research (TMR) is a global market intelligence company providing business information reports and services. The company’s exclusive blend of quantitative forecasting and trend analysis provides forward-looking insight for thousands of decision makers. TMR’s experienced team of analysts, researchers, and consultants use proprietary data sources and various tools and techniques to gather and analyze information.
TMR’s data repository is continuously updated and revised by a team of research experts so that it always reflects the latest trends and information. With extensive research and analysis capabilities, Transparency Market Research employs rigorous primary and secondary research techniques to develop distinctive data sets and research material for business reports.
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