Global Cogeneration Equipment Market Accounted for Rapid Growth Due to Growth in Electricity Demand during 2017- 2025

Globally, ever-increasing energy needs along with depletion of fossil fuels is necessitating the adoption of alternate techniques for energy generation such as cogeneration. Cogeneration is used across a host of areas such as shopping complexes, residential buildings, oil and gas production facilities, hospitals, universities, and small and large industries. Market Research Hub (MRH) has freshly broadcasted a new report, to its wide repository which is titled as “Cogeneration Equipment Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2017- 2025”.  This study offers a holistic outlook on the market covering market trends, factors along with industry growth prospects from 2012 to 2017, and forecast to 2022. The report also highlights opportunities in the cogeneration equipment market at the global and regional level.

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Geographical Expansion

The regional outlook offered in the report offers analysis and insights on the markets in North America, Europe, Latin America, Asia Pacific, and Middle East & Africa (MEA). In these regions, the research highlights current and forecast demand for cogeneration equipment. As per the study findings, the market is continuing to grow due to increase in electricity demand and heat demand from the countries like China, the US and the UK, while some of the emergings in this market are Brazil, Mexico, Malaysia, Indonesia, and South Africa. Overall, research projects the global cogeneration equipment market to rise at a CAGR of 4.8% between 2017 and 2025, for the market to become worth US$33,543 mn by the end of 2025 from US$22,175 mn in 2016.

Market Dynamics

In the present time, the ever-increasing demand for electricity is a major factor fueling the market growth of cogeneration equipment. It involves generating electricity and heat simultaneously from a single fuel source such as natural gas and biomass. Cogeneration systems provide efficiency from 77% to 81% as compared to 46% efficiency of conventional systems and also can reduce carbon emissions by up to 29% over conventional systems.

The increasing number of renewable energy projects and abundant availability of natural gas in some parts of the world are also stoking growth of cogeneration equipment market.

Apart from this, increasing fuel prices and unpredictable economic conditions across the world have created the pressing need for efficient power generation techniques to create sustainable and profitable energy solutions.

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Further, some of the major dynamics has been analyzed on the basis of market segmentation into capacity, fuel, technology, application. Depending on capacity, the segments into which the global cogeneration equipment market is divided are up to 30 MW, 31MW- 60 MW, and 61MW-100 MW.  On the basis of technology, the global cogeneration equipment market has been segmented into a steam turbine, combined cycle gas turbine, gas turbine, reciprocating engine, and others.

At last, the report concludes with the profiling of prominent players operating in the cogeneration equipment market. These players include Rolls Royce Plc., BDR Thermea, Siemens AG, Innovate Steam Technologies, 2G Energy, Mitsubishi’s heavy industries Ltd., Foster wheeler AG, Aegis Energy Services, Inc., Clarke Energy, Innovate steam technologies, ANDRITZ Energy & Environment GmbH, ABB, Kawasaki Heavy Industries Ltd. and others.

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This release was published on openPR.