Combined Heat and Power Market to Hit $50 Billion by 2026, Says Global Market Insights, Inc.

SELBYVILLE, Del., Feb. 13, 2020 /PRNewswire/ -- The Global Combined Heat and Power Market is predicted to exceed USD 50 billion by 2026, as reported in the latest study by Global Market Insights, Inc. Rapid urbanization across developing nations along with ongoing investments toward smart infrastructure to minimize carbon footprint and emission of harmful gases will complement industry growth. Furthermore, favorable government norms toward CHP plants and net energy metering including tax rebates, incentives and subsidies will positively influence business outlook.

The residential segment of the combined heat and power industry segment is anticipated to witness an upsurge on account of rising energy demand, rapid urbanization and ongoing investments toward smart infrastructure. Low operating & installation cost, high reliability and improved efficiency of CHP systems are some of the key features that will further drive product demand. Moreover, ongoing captive power generation demand in line with rising R&D investments toward sustainable energy production will boost industry growth.

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Some major findings of the combined heat and power market report include:

• The combined heat and power demand are surging on account of rapid industrialization and urbanization along with increasing energy utilization across the globe.
• Rising customer inclination toward renewable fuels including natural gas and biomass coupled with increasing smart infrastructure investments will drive market growth.
• Key players operating across the combined heat and power market are General Electric, Aegis Energy, ABB, Kawasaki, Siemens, etc.
• Favorable government policies toward adoption of renewable technology coupled with stringent norms to curb rising carbon footprint will further strengthen the industry landscape.

Browse key industry insights spread across 550 pages with 804 market data tables & 38 figures & charts from the report, "Combined Heat And Power Market Outlook By Fuel (Natural Gas, Coal, Biomass), By End Use (Residential [Space Heating/Cooling, Water Heating, Cooking, Lighting], Commercial [Educational Institution, District Energy, Office Building, Government/Military], Industrial [Chemical, Petroleum Refining, Food, Paper, Primary Metals]), By Capacity (1 kW – 0.5 MW, 0.5MW - 5MW, Above 5 MW), By Technology (Combined Cycle, Steam Turbine, Gas Turbine, Reciprocating Engine), Industry Analysis Report, Price Trends, Competitive Market Share & Forecast, 2020 – 2026" in detail along with the table of contents:

https://www.gminsights.com/industry-analysis/combined-heat-and-power-CHP-market

5 MW capacity is projected to grow owing to the rapid applicability of CHP systems across commercial, industrial and residential sectors. Growing demand for decentralized power generation in line with refurbishment and revamping of existing energy-producing plants will further complement the combined heat and power market. Moreover, ongoing technological enhancements toward compact, smart and cost-effective CHP systems will boost product adoption across the globe. For instance, ENER-G introduced an innovative technology 'E-Power' in 2018, effectively optimizing CHP plants performance for providing ease in installation, low operating and maintenance cost and high performance.

Asia Pacific & Europe is anticipated to account for over 70% of combined heat and power market share in 2026. Favorable government policies toward net energy metering and increased resiliency initiatives, financial incentives, CHP-inclined environment regulations & policies are major dominant measures which will enhance the product adoption across the globe. Moreover, ongoing industrial and commercial inclination toward the adoption of natural gas & biomass fueled systems coupled with the deployment of advanced cogeneration plants, reciprocating engine & gas turbine technologies will strengthen product adoption.

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https://www.gminsights.com/industry-analysis/district-heating-market

About Global Market Insights

Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider, offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.

GMIPulse, our business analytics platform offers an online, interactive option of exploring our proprietary industry research data in an easy-to-use and dynamic manner. Clients get to explore market intelligence across 11 top-level categories and hundreds of industry segments within them, covering regional, company level and cross-sectional statistics that make our offering a stand-out for decision-makers. Contact Us:

Arun Hegde
Corporate Sales, USA
Global Market Insights, Inc.
Phone: 1-302-846-7766
Toll Free: 1-888-689-0688
Email: [email protected]

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SOURCE Global Market Insights, Inc.

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