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Combined Heat and Power Systems Installation Market Driven by Rising Demand for Energy Security

Article Description

Combined heat and power (CHP) is a technology that uses the power station or heat engine to generate electricity and heat at the same time. CHP systems make efficient use of fuel as they do not waste the heat generated, but put it to use. CHP systems are able to save 40% of the energy in addition to the energy saved by conventional systems, as they generate the energy locally and do not need to transmit and distribute through local networks. CHP, also known as cogeneration, reduces greenhouse gas emissions. These systems comprise control systems, generators, heat exchangers, boilers, engines, compressors, feed water tanks, and turbines. 

Industrial Application Segment Dominated CHP Systems Installation Market in 2014

The global CHP systems installations market is segmented on the basis of type, application, technology, fuel, and region. By application, the global CHP systems market is segmented into residential, commercial, and industrial. Of these, the industrial segment dominated in 2014 by accounting for a share of 66% in the global CHP systems market, followed by commercial and residential segments, in that order. By region, the market is segmented into Asia Pacific, North America, Europe, and the Rest of the World. While the Rest of the World dominated the market in 2014, in Europe, Russia, Germany, Poland, and the Netherlands are anticipated to emerge as lucrative markets for CHP systems in the future.

On the basis of type, the market is segmented into large-scale CHP and micro and small-scale CHP. Of these, the large-scale CHP systems segment represented the largest share in the market in 2014. By technology, the market is segmented into combined cycle, steam turbine, reciprocation engine, combustion/gas turbine, and others. Of these, the combined cycle held the largest share in the market in 2014. By fuel, the CHP systems installations market is segmented into natural gas, coal, biomass, and others. Of these, coal and natural gas have been widely utilized owing to their easy availability and low cost.

Rising Awareness about Benefits of Energy Efficient Technologies to Boost CHP Systems Installation Market

The global CHP systems installations market is driven by supportive policies and feed-in-tariffs by various governments. CHP systems are increasingly being adopted by end users for whom the security of power supply is of utmost importance. The rising demand for energy security and an emphasis on reducing energy losses are expected to boost the installations of CHP systems in the coming years. The use of combined heat and power systems helps in reducing greenhouse gas emissions and energy costs. A rising awareness among people about the benefits of energy efficient technologies is expected to boost the installations of combined heat and power systems and drive the market across the globe. International environmental rules mandate the reduction of carbon footprint and greenhouse gas emissions. This is further expected to boost the installations of CHP systems.

Browse Full Global Combined Heat and Power (CHP) Installation Market Report with TOC:

Major companies operating in the CHP installation market include: FuelCell Energy, Edina Ltd., ENER-G Holdings Plc, General Electric Company, Viessmann Werke GmbH & Co. KG, Mitsubishi Hitachi Power Systems, Ltd., E.ON SE, Siemens AG, Wärtsilä Corporation, Yanmar Co., Ltd., Inc., and Helen Ltd.