Micro Heat and Power (CHP) Market to Hit USD

Pune, India, February 10, 2022 (GLOBE NEWSWIRE) — The Global Micro Heat and Power (CHP) Market the size should reach $9.39 billion by 2028 and displays a CAGR of 13.5% during the forecast period. The exponentially increasing energy demand in developing economies is expected to be a key driver for market growth. Fortune Business InsightsMT presented this information in its report titled “Micro Heat and Power (CHP) Market, 2021-2028”. The market size stood at USD 3.41 billion in 2020 and USD 3.87 billion in 2021.
Additionally, increasing investment in new clean energy initiatives and growing trend towards low-carbon power generation to control greenhouse gas emissions are expected to fuel the market growth significantly. .

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Companies in Micro Heat and Power (CHP) Market

  • Yanmar (Japan)
  • GE Power (USA)
  • Siemens (Germany)
  • Dalkia Aegis, EDF Group (United States)
  • 2G Energy AG (Germany)
  • Samad Power (UK)
  • Vaillant Group (Germany)
  • Viessman (Germany)
  • Axiom Energy Group (USA)
  • Micro Turbine Technology BV (Netherlands)
  • Centrica Business Solutions UK and Ireland (UK)
  • BDR Thermea Group (Netherlands)
  • M-TriGen, Inc. (USA)
  • EC POWER (Denmark)
  • TEDOM as (Czech Republic)
  • Honda Motor Co., Ltd. (Japan)
  • GreenWatt Canada (Canada)

Report scope and segmentation

Report cover Details
Forecast period 2021 to 2028
Forecast Period 2021 to 2028 CAGR 13.5%
2028 value projection $9.39 billion
base year 2020
Market size in 2021 $3.87 billion
Historical data for 2017 to 2019
Number of pages 240
Segments Covered Application, Capacity, Main Engine, Fuel, Region
Growth engines Rising Energy Demand in Developing Countries to Fuel Market Growth
Asia-Pacific will hold the lion’s share
Key players are emphasizing new products to amplify their revenue

Impact of COVID-19-

The COVID-19 pandemic will usher in unprecedented challenges leading to limited market growth
The market suffered a moderate impact from the coronavirus pandemic. Job losses due to frequent company layoffs have led to budget shortfalls for customers, which has had a negative impact on market growth. However, financial benefit plans and clean energy initiatives introduced by several governments have helped the market suffer limited impact from the pandemic. It has also created job opportunities and helped the market grow.

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Segments-

Application, Capacity, Main Engine, Fuel, and Region are studied for the Market

Based on application, the market is divided into commercial and residential. Based on capacity, the market is divided into 10-50 kW, 2-10 kW and up to 2 kW. Based on primary engine, the market is fragmented into fuel cell, Stirling engine, internal combustion engine and others. On the basis of fuel, the market is segmented into renewable resources, hydrogen, natural gas and others. Geographically, the market is categorized into Europe, Asia-Pacific, North America, and Rest of the World.

Report cover-

  • It provides a comprehensive market assessment.
  • It assimilates the main drivers and constraints of the market.
  • It profiles the rankings of major market players accordingly.
  • It includes key market developments and information on various market segments.
  • It assesses the impact of the COVID-19 pandemic on the market.

Drivers and Constraints-

Rising Energy Demand in Developing Countries to Fuel Market Growth

The demand for electricity and heat is constantly increasing due to increasing urbanization and the expansion of several industries. The systems used offer competitive energy to achieve the savings objectives. This is expected to drive the growth of the micro combined heat and power (CHP) market.
The growing emphasis on producing low-carbon offerings to meet the energy transition of major players is expected to drive the market growth. Moreover, the growing concentration of companies on various inorganic and organic expansion plans to amplify the potential of the product is likely to fuel the growth of the market.
Finally, growing energy demand in developing countries owing to the expansion of several industries and rampant urbanization is expected to fuel the growth of the market. However, high capital cost requirements may hamper market growth.

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Regional outlook-

Asia-Pacific will hold the lion’s share

Asia-Pacific is expected to dominate the micro combined heat and power (CHP) market share. Rising investment in the installation of micro combined heat and power (CHP) solutions in Japan is expected to be the key driver for market growth in the region.
North America is expected to experience substantial growth in the coming years. Increasing emphasis by governments on improving energy efficiency is expected to drive the growth of the region’s market.
Europe is expected to experience considerable growth in the global market. Growing efforts in France, Italy, UK and Germany to improve the environment and deploy clean energy sources are expected to boost the market growth of the region.

Competitive Landscape-

Key players are emphasizing new products to amplify their revenue

The market includes many key players that offer products at multiple scales. Major players are emphasizing new product launches to amplify their market positions. They also emphasize acquisitions, mergers, collaborations and other similar strategies to strengthen their presence in the market. For example, in June 2021, 2G Energy AG acquired HJS Motoren GmbH to increase revenue by synergizing the two companies’ workforces.

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Contents

  • introduction
    • Search scope
    • Market segmentation
    • Research Methodology
    • Definitions and assumptions
  • Summary
  • Market dynamics
    • Market factors
    • Market constraints
    • Market opportunities
  • key ideas
    • Main emerging trends – for main countries
    • Latest technological advancement
    • Main developments: merger, acquisition, partnership, etc.
    • Regulatory landscape
    • Porter’s Five Forces Analysis
  • Qualitative Analysis – Impact of COVID-19
    • Impact of COVID-19 on the Micro Heat and Power (CHP) Market
    • Measures taken by the government to overcome the impact
    • Key developments from industry players in response to COVID-19
    • Potential Opportunities and Challenges Due to the COVID-19 Outbreak
  • Global Combined Micro Heat and Power (CHP) Market Analysis (MW, USD Billion), Outlook and Forecast, 2017-2028
    • Main results/summary
    • Market Analysis, Outlook and Forecast – By Application
    • Market Analysis, Outlook & Forecast – By Capacity
      • Up to 2kW
      • 2 – 10kW
      • 10 – 50kW
    • Market Analysis, Outlook and Forecast – By Prime Mover
      • IC engine
      • Stirling engine
      • Fuel cell
      • Others
    • Market Analysis, Outlook and Forecast – By Fuel
      • Natural gas
      • Hydrogen
      • Renewable resources
      • Others
    • Market Analysis, Outlook and Forecast – By Region
      • North America
      • Europe
      • Asia Pacific
      • Rest of the world
  • North America Micro Heat and Power (CHP) Market Analysis (MW, USD Billion), Outlook and Forecast, 2017-2028
    • Main results/summary
    • Market Analysis, Outlook and Forecast – By Application
    • Market Analysis, Outlook & Forecast – By Capacity
      • Up to 2kW
      • 2 – 10kW
      • 10 – 50kW
    • Market Analysis, Outlook and Forecast – By Prime Mover
      • IC engine
      • Stirling engine
      • Fuel cell
      • Others
    • Market Analysis, Outlook and Forecast – By Fuel
      • Natural gas
      • Hydrogen
      • Renewable resources
      • Others
    • Market Analysis, Outlook and Forecast – by Country
      • US Market Analysis, Outlook and Forecast – By Application
      • Canada Market Analysis, Outlook and Forecast – By Application

TOC Continued…

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