Combined Heat and Power System for Data Center in U.S. to Accumulate US$ 277.3 Mn by 2024

As per Persistence Market Research (PMR’s) latest report, the US market for combined heat and power (CHP) system for data center is set to witness a CAGR of over 3% over 2024. In terms of revenue, California, Washington, New York, Massachusetts and Texas will account for the major of shares in the country. The U.S CHP system for data center market is expected to surpass US$ 277 Million by the end of 2024. The market is expected to witness a passive Y-o-Y growth throughout the assessment period, ranging between 3.8% and 4%.

“Growing adoption of colocation facilities and increasing demand for green data centers are anticipated to create scope of business in the US market”. – Persistence Market Research

The PMR report identifies key factors driving the overall growth of the market during the 2017 and 2024. This include,

Government Support and Consumer Preference Boosting Market Growth

Primarily driven by increasing preference for CHP systems over conventional power generation systems, moreover, the market in the country will gain higher traction owing to encouraging government policies.

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Increasing CHP tax incentives and shrinking prices of natural gas will support market growth

Reduced natural gas prices and recovering economy is expected to fuel the demand for CHP system for data center in the U.S. market. Further, tax reliefs and incentives provisioned by the federal government over CHP systems is positively influencing the market growth.

Facilities with Larger Capacity will Account for over 50% Revenue Share of the Market

Facilities with more than 20,000 sq. ft. of work space will continue to hold the largest value share of the market in the US over the forecast period. By the end of 2026, the segment is expected to gain nearly 30 BPS, reaching a market valuation of US$ 150 Million. Whereas, the 100-999 sq. ft. size segment is estimated to cross US$ 45 Million during the same period.

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Based on end-use, Institutional Segment is expected to remain the Dominant

The institutional and commercial data centers are expected to be the two major segment collectively accounting for 90% share of the market in terms of value. By the end of 2024, the institutional data centers segment will independently register for more than 35% revenue share, while, commercial data centers segment is likely to hold the second spot in the market.

CHP for Data Center finds maximum Application in University laboratories and ISPs

On the basis of application, university laboratories are expected to account for over 35 % revenue share of the market by 2024 end. The internet service providers are expected to emerge as the second largest end use segment, accounting for over 25% during the forecast period. Whereas, server farms and colos are anticipated to maintain modest growth over 2024.

The US CHP System for Data Center Boosted by Higher New System Installations

By installation type, newly installed systems are identified as the predominant segment, projected to capture more than 80% share over 2024. On the other, the retrofitting segment will witness a sluggish growth owing to system associated complication and higher costs.

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Competitive Landscape
Caterpillar Inc. and General Electric Company will continue to be the topmost revenue generators amongst key market players. Dresser-Rand Group, Inc and Veolia Energy North America, LLC, will also represent for healthy revenue shares in the market. Advanced CHP product development and strategic acquisitions are currently the focus point for most of the players.

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This release was published on openPR.