San Francisco, 22 February 2019: The Report Combined Heat & Power (CHP) Installation Market Analysis By Product (Large Scale, Small & Micro-Scale), By Fuel (Natural Gas, Coal, Biomass), By Technology (Combined Cycle, Steam Turbine, Combustion/Gas Turbine, Reciprocating Engine), By Application (Residential, Commercial, Industrial) And Segment Forecasts To 2022
The global combined heat and power (CHP) installation market is expected to reach USD 10.31 billion, according to a new report by Grand View Research, Inc. Shift in preference towards replacing conventional energy systems on account of operational cost and uninterrupted utility supply is expected to drive market growth. Increasing energy demand from industrial applications, such as chemical, refining, pharmaceuticals, paper, pulp, cement, and sugar, is also expected have a positive influence on market growth. Increasing demand for space heating and lighting applications in offices, retail malls, hospitals, and universities has also prompted CHP installation for commercial applications. Initial high installation cost coupled with longer payback periods is expected to pose challenges to industry participants.
Natural gas based fuel systems dominated the overall market and accounted for over 65% of the total volume in 2014. Recent decline in natural gas prices on account of discovery of unconventional natural gas reserves is expected to drive this segment over the forecast period. Coal-based systems are expected to witness moderate growth rates with an estimated CAGR of 2.6% from 2015 to 2022.
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Further key findings from the report suggest:
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Grand View Research has segmented the CHP installation market on the basis of product, fuel, technology, application, and region.
Combined Heat & Power (CHP) Installation Product Outlook (Volume, GW; Revenue, USD Billion, 2012 - 2022)
Combined Heat & Power (CHP) Installation Fuel Outlook (Volume, GW; Revenue, USD Billion, 2012 - 2022)
Combined Heat & Power (CHP) Installation Technology Outlook (Volume, GW; Revenue, USD Billion, 2012 - 2022)
Combined Heat & Power (CHP) Installation Application Outlook (Volume, GW; Revenue, USD Billion, 2012 - 2022)
Combined Heat & Power (CHP) Installation Regional Outlook (Volume GW; Revenue, USD Billion, 2012 - 2022)
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About Grand View Research
Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.
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