Over the next five years the Commercial Combined Heat and Power (CHP) System market will register a 7.6% CAGR in terms of revenue, the global market size will reach USD 2.4 billion by 2027.
Commercial Combined Heat and Power (CHP) System Market Overview
The Commercial Combined Heat and Power (CHP) System reduces the cost of electricity and heat production by increasing the thermal efficiency of the system. The Commercial Combined Heat and Power (CHP) Systems are used in industrial, commercial and residential applications. The key technologies used in Commercial Combined Heat and Power (CHP) Systems are also covered at length. Based on application, the industrial sector has the most installed CHP capacity, accounting for 1/3 of revenue share and having the most expansion potential. Demand for Commercial Combined Heat and Power (CHP) Systems has increased in recent years as the need for energy-efficient equipment in end-use sectors has grown. In comparison to a traditional power plant, which runs at around 44% efficiency, a CHP facility typically performs at 79 percent efficiency, resulting in lower operating costs.
Manufacturers are incorporating AI and IoT into CHP plants to reduce energy waste in the power sector, which is expected to increase demand in the future years. According to the International Finance Corporation (IFC), AI has the potential to reduce energy waste, lower costs, and make renewable energy sources more accessible in power grids around the world.CHP systems, according to the EPA, have the technological and cost-effectiveness potential to be a viable alternative for power supplies in residential, commercial, municipal, institutional, and manufacturing buildings.
Industry News:
17 June 2020: Siemens Energy is building another highly efficient combined cycle power plant for the specialty chemical company Evonik at its largest industrial location in Marl, North Rhine-Westphalia, Germany. Consisting of one SGT-800 gas turbine, one SST-400 steam turbine, and two generators, the plant will produce power and heat with 90 megawatts of electrical capacity and 220 megawatts of thermal capacity. It will go into operation in 2022 replacing a backup gas power plant.
2021-11-08: ABB to help decarbonize district heat supply near UNESCO World Heritage area in Denmark.ABB will supply integrated electrical infrastructure for seawater heat pump to deliver green heat to over 100,000 inhabitants of Danish port city of Esbjerg ABB’s technology will secure reliable renewable power supply, heat production and distribution for the plant
Who are the Major Players in Commercial Combined Heat and Power (CHP) System Market?
The Commercial Combined Heat and Power (CHP) System Market is growing at a very fast pace and has seen the focus of many local and regional vendors offering precise application products for multiple end users. The three dependencies for the status of major companies in the market are: company profile, profitable gross margin, the prices they charge. These are the main players in this market includes Siemens, BOSCH THERMOTECHNIK, GE, E.ON, ABB, 2G Energy, BDR Thermea Group, Caterpillar, Centrica, CAPSTONE TURBINE CORP., DOOSAN FUEL CELL AMERICA, Edina, Ameresco, Exelon, E3 NV and others.
What are the major Applications, Types and Regions for Commercial Combined Heat and Power (CHP) System Market?
Commercial Combined Heat and Power (CHP) System Market is segmented based on the type, applications, companies and regions.
By Type, it is segmented into
- Large Scale CHP
- Small Scale CHP
- Micro Scale CHP
By Applications it is segmented into
- Office Buildings
- Service Sector
Commercial Combined Heat and Power (CHP) System Market Regional Analysis
North America has dominated the commercial combined heat and power market and is expected to continue its dominance in the coming years as well. A reliable and resilient grid is critical to the economic growth and energy security of countries like the United States. As the country’s grid interconnects a growing number of renewable energy sources, such as wind and solar, the intermittent nature of power generation from these sources is creating challenges for power system operations. Electric utilities and other system operators are facing an increasing and immediate need for additional power to keep the electric grid stable and secure.
- North America
- Europe
- Germany
- France
- UK
- Italy
- Spain
- Rest of Europe
- Asia-Pacific
- China
- Japan
- India
- Australia
- South Korea
- Rest of Asia-Pacific
- Rest of the World
- Middle East & Africa
- Latin America
The Commercial Combined Heat and Power (CHP) System Market describes the factors driving the global growth opportunities in upcoming years and highlights market channels. In addition, the report analyzes market size and share, trends, by geographic region, end-use type and segment. It focuses extensively on revealing a detailed regional analysis. The Global Commercial Combined Heat and Power (CHP) System Market report also conducted a PESTEL analysis of the industry to study the main influencing factors and entry barriers of the industry.
What is our Commercial Combined Heat and Power (CHP) System Market report scope?
Report Attributes
|
Report Details
|
Forecast Period 2022 to 2027CAGR
|
CAGR of 7.6% during the review period (2022 to 2027).
|
By Type
|
- Large Scale CHP
- Small Scale CHP
- Micro Scale CHP
|
By Application
|
- Office Buildings
- Service Sector
|
By Companies
|
Siemens, BOSCH THERMOTECHNIK, GE, E.ON, ABB, 2G Energy, BDR Thermea Group, Caterpillar, Centrica, CAPSTONE TURBINE CORP., DOOSAN FUEL CELL AMERICA, Edina, Ameresco, Exelon, E3 NV
|
Regions Covered
|
- North America
- Europe
- Asia-Pacific
- Rest of the World
|
Countries Covered
|
- US
- Canada
- Germany
- France
- UK
- Italy
- Spain
- Rest of Europe
- China
- Japan
- India
- Australia
- South Korea
- Rest of Asia-Pacific
- Middle East & Africa
- Latin America
|
Base Year
|
2022
|
Historical Year
|
2017 to 2021
|
Forecast Year
|
2022 to 2027
|
Number of Pages
|
164
|
Customization Available
|
Yes, the report can be customized as per your needs
|
Key Takeaways from this Commercial Combined Heat and Power (CHP) System Report
- Evaluate Commercial Combined Heat and Power (CHP) System market potential through analyzing growth rates (CAGR %), Volume (Units) and Value ($M) data given at country level - for product types, end use applications and by different industry verticals.
- Understand the different dynamics influencing the market - growth driving factors, specific challenges and hidden opportunities.
- Get in-depth insights on your competitor performance – revenue, shares, business strategies, financial benchmarking, product benchmarking, SWOT analysis and more.
- Analyze the sales and distribution channels across geographies to enhance top-line revenues.
- Understand the demanding supply chain with a deep dive on the value augmentation at each, in order to optimize value and bring efficiencies in your processes.
- Get a quick outlook on the Commercial Combined Heat and Power (CHP) System market entropy - M&A's, deals, partnerships, product launches of all key players for the past 4 years.
- Evaluate the import-export statistics, supply-demand and competitive landscape for more than top 20 countries globally for the market.
All our reports are custom made to your company needs to a certain extent, we do provide 5 free consulting hours along with purchase of each report, and this will allow you to request any additional data to customize the report as your needs.
Frequently Asked Questions
What is the study period of this market?
The Commercial Combined Heat and Power (CHP) System Market is studied from 2017 - 2027.
What is the growth rate of Commercial Combined Heat and Power (CHP) System Market?
The Commercial Combined Heat and Power (CHP) System Market is growing at a CAGR of 7.6% over the next 5 years.
Who are the key players in Commercial Combined Heat and Power (CHP) System Market?
Siemens, BOSCH THERMOTECHNIK, GE, E.ON, ABB, 2G Energy, BDR Thermea Group, Caterpillar, Centrica, CAPSTONE TURBINE CORP., DOOSAN FUEL CELL AMERICA, Edina, Ameresco, Exelon, E3 NV
What region does this Commercial Combined Heat and Power (CHP) System Market report covers?
North America (the United States, Canada, and Mexico)
Europe (Germany, France, UK, Russia, and Italy)
Asia-Pacific (China, Japan, Korea, India, and Southeast Asia)
South America (Brazil, Argentina, Colombia, etc.)
The Middle East and Africa (Saudi Arabia, UAE, Egypt, Nigeria, and South Africa)
What are the significant types of Commercial Combined Heat and Power (CHP) System Market?
Large Scale CHP, Small Scale CHP, Micro Scale CHP
What are the major end-use applications of Commercial Combined Heat and Power (CHP) System Market?
Office Buildings, Service Sector
SECONDARY RESEARCH
Secondary Research Information is collected from a number of publicly available as well as paid databases. Public sources involve publications by different associations and governments, annual reports and statements of companies, white papers and research publications by recognized industry experts and renowned academia etc. Paid data sources include third party authentic industry databases.
PRIMARY RESEARCH
Once data collection is done through secondary research, primary interviews are conducted with different stakeholders across the value chain like manufacturers, distributors, ingredient/input suppliers, end customers and other key opinion leaders of the industry. Primary research is used both to validate the data points obtained from secondary research and to fill in the data gaps after secondary research.
MARKET ENGINEERING
The market engineering phase involves analyzing the data collected, market breakdown and forecasting. Macroeconomic indicators and bottom-up and top-down approaches are used to arrive at a complete set of data points that give way to valuable qualitative and quantitative insights. Each data point is verified by the process of data triangulation to validate the numbers and arrive at close estimates.
EXPERT VALIDATION
The market engineered data is verified and validated by a number of experts, both in-house and external.
REPORT WRITING/ PRESENTATION
After the data is curated by the mentioned highly sophisticated process, the analysts begin to write the report. Garnering insights from data and forecasts, insights are drawn to visualize the entire ecosystem in a single report.
