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Global Cogeneration Equipment Market Expected to Grow at 4.8% CAGR through 2025
MRRSE
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The global cogeneration equipment market is likely to witness steady growth during the assessment period on account of greater push towards boosting renewable sources of energy. Climate change and global warming have become issues of international prominence, and governments around the world are taking concrete steps to address these issues. It is highly likely that due to these initiatives, the global cogeneration equipment market will witness steady growth over the forecast period.
The detailed report has divided the global market into various segments and sub-segments to provide 360 degree view of the market to its readers. These segments are capacity, fuel, technology, application and region. By capacity segment, the global market is further sub-segmented as upto 30 MW, 31MW -60 MW and 61 MW- 100 MW. The fuel segment is bifurcated into biomass, natural gas, coal and others. Technology wise, the global market is categorized as gas turbine, steam turbine, reciprocating engine, combined cycle gas turbine and others. The application segment is divided into industrial, residential and commercial. The last segment of region divides the global market into key regions which are North America, Latin America, Europe, Asia Pacific, Middle East and Africa.
Among the various types of fuel used in cogeneration equipment, natural gas remains the most prominent, and currently accounts for over half of the revenue share of the market. By application, industrial segment is the most dominant, accounting for nearly 60% revenue share of the market. By region, Asia Pacific is one of the largest markets globally, and accounts for over 40% revenue share of the market. Europe is the second-largest market and efforts by European Union to boost renewable sources of energy in the region are likely to provide an impetus to market growth.
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The report also details the business and product strategies of some of the leading companies operating in this market. These include are ABB Group, Aegis Energy Services, Inc., Siemens AG, Mitsubishi Heavy Industries Ltd., ANDRITZ Energy & Environment GmbH, Clarke Energy, Foster Wheeler AG, Kawasaki Heavy Industries Ltd., 2G Energy Inc., BDR Thermea, Baxi Group, Rolls Royce Plc., Bosh Thermotechnology Limited, Capstone Turbine Corporation and Innovative Steam Technologies.
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