Micro Combined Heat And Power Market, Regional Outlook Competitive Market Share and Forecast, 2017 – 2024

Global Micro Combined Heat And Power Market size is set to grow substantially during the forecast timeframe. Micro combined heat and power (CHP) technology generates both heat and usable electricity. Natural gas is used as a fuel for the generation of heat and power. Micro CHP is a small heat engine that drives the generator to produce heat and electricity.

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Changing energy scenario and attempts from government for sustainable utilization of existing resources will increase the business growth. Need for low carbon emission technologies will drive the micro combined heat and power market in the forecast period. Cost effective performance coupled with easy installation will boost its demand over other technologies including boilers. Adoption of micro CHP systems is increasing with growing fuel poverty, reduced carbon emissions, climatic changes and energy security. Complicated metering arrangements and network connections will hinder the growth for micro combined heat and power market. Heating segment is dominated by condensing boilers which acts as a restraining factor for the micro combined heat and power market.

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Based on technology, global micro combined heat and power market is segmented into Stirling Engine, Rankine Cycle Engine, Internal Combustion Engine, Proton Exchange Membrane Fuel Cell (PEMFC) and Solid Oxide Fuel Cell (SOFC). Leading share is held by PEMFC subject to its avoidance of thermal cycling and low heat-to-power ratio.

Micro CHP systems can be implemented for residential and commercial applications. The demand in residential applications is mostly in the developing countries and hence will dominate the global Micro combined heat and power market. Favorable government policies and focus on reduction of greenhouse gases will increase the implementation of residential micro CHP systems.

Increase in the production of natural gas in North America and hike in electricity prices will drive the micro combined heat and power market. In the U.S., demand for reliable on-site electricity supply against power outage will increase the adoption of micro CHP systems. Abundant and cheap natural gas in Canada will boost the implementation of micro CHP systems for generating heat and electricity.

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Regionally, Global Market Insights, Inc.’s Micro Combined Heat And Power Market research has the most in-depth, country focused estimates and forecasts for decision makers across the globe. An exhaustive list of company profiles for organizations active in the Micro Combined Heat And Power Market supports the regional analysis and information offering a competitive outlook on the industry. For each segment analyzed in this research, whether it is by product, application, material or end-use, a regional overview with historical data and Micro Combined Heat And Power Market forecast is provided to the reader. Such a cross-segmentation research analysis is also unique to reports by Global Market Insights, Inc.

Notable players in the micro combined heat and power market include Honda Power, Vaillant, Viessman, Ceres Power Holdings, Yanmar Holdings, BDR Thermea, Solid Power, Qnergy, Aisin, Dantherm Power and Topsoe Fuel Cell.

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