23-Mar-2020 | Facts and Factors
Findings from Facts and Factors report “Cogeneration Equipment Market By Technology (Steam Turbine, Gas Turbine, Combined Cycle Gas Turbine, Reciprocating engine, and Others), By Capacity (Up to 30 MW, 31MW – 60 MW, and 61 MW – 100 MW), By Fuel Type (Biomass, Coal, Natural Gas, and Others), and By Application (Industrial, Residential, and Commercial), and By Region: Global Industry Outlook, Market Size, Business Intelligence, Consumer Preferences, Statistical Surveys, Comprehensive Analysis, Historical Developments, Current Trends, and Forecasts, 2020–2026” states that the global Cogeneration Equipment market in 2019 was approximately around USD 22,168 Million. The market is expected to grow at a CAGR of over 9.5% and is anticipated to reach around USD 41,844 Million by 2026.
Cogeneration is also known as combined heat and power (CHP) systems. These systems help generate both electricity and heat from a single fuel source, including natural gas, biomass, waste heat, wood, and coal. Cogeneration systems work with almost 77–81% efficiency compared to the 46% efficiency of traditional systems. These systems help lower carbon emissions by almost 29%.
Browse the full “Cogeneration Equipment Market By Technology (Steam Turbine, Gas Turbine, Combined Cycle Gas Turbine, Reciprocating engine, and Others), By Capacity (Upto 30 MW, 31MW – 60 MW, and 61 MW – 100 MW), By Fuel Type (Biomass, Coal, Natural Gas, and Others), and By Application (Industrial, Residential, and Commercial), and By Region: Global Industry Outlook, Market Size, Business Intelligence, Consumer Preferences, Statistical Surveys, Comprehensive Analysis, Historical Developments, Current Trends, and Forecasts, 2020–2026" report at https://www.fnfresearch.com/global-cogeneration-equipment-market-by-technology-steam-turbine-871
The increasing demand for productive power generation techniques to meet up to the increasing requirement for electricity across the globe is the major factor propelling the expansion of the global Cogeneration Equipment market. Apart from this, the decrease in fossil fuels has encouraged the adoption of alternative techniques such as cogeneration. Furthermore, the stringent government regulations for energy-saving and curbing climatic changes have urged to use cogeneration equipment to generate power, thus augmenting the Cogeneration Equipment market. The numerous renewable energy projects coupled with the high availability of natural gas across the world are supplementing the development of the Cogeneration Equipment market. In addition to this, the low prices of natural gas, favorable government policies, and old infrastructure are expected to fuel the Cogeneration Equipment demand in the coming years. However, the high initial investments and requisites for sophisticated technologies are likely to have a negative impact on the cogeneration equipment market.
Market Segment Dominance:
- The industrial category is expected to hold the majority of the market share in the global Cogeneration Equipment market
The industrial category dominated the market owing to the rising demand for attaining the carbon emission targets and also to abide by the stringent government regulations to help improve the productivity in power generation. Furthermore, the high revenue generation in the long run from the industrial sector is the major reason anticipated to boost the growth of the global Cogeneration Equipment market.
- Europe is expected to exhibit the highest growth rate
Europe is expected to exhibit the highest growth rate over the forecast timeframe. The growth of the market is attributed to the high availability of natural gas in regions such as Russia and Germany. The increasing cost and space limitations in major cities coupled with stringent environmental norms are anticipated to fuel the demand for cogeneration equipment in the region.
Some of the key market players of the global Cogeneration Equipment market include Alstorm Power, American DG Energy Inc., Cidea Uno Inc., Turner Crane, Allied Equipments Inc., Mitsubishi Heavy Industries Ltd., Caterpillar Inc., Baxi Group, GE Energy, Siemens AG, Almeg Controls, Solar Turbines Inc., US Green Energy Ltd., Rolls Royce PLC., and Perry Process Equipment Ltd.
This report segments the global Cogeneration Equipment market as follows:
Global Cogeneration Equipment Market: By Capacity
- Upto 30 MW
- 31MW -60 MW
- 61 MW- 100 MW
Global Cogeneration Equipment Market: By Fuel
- Natural Gas
Global Cogeneration Equipment Market: By Technology
- Steam Turbine
- Gas Turbine
- Combined Cycle Gas Turbine
- Reciprocating engine
Global Cogeneration Equipment Market: By Application
Global Cogeneration Equipment Market: Regional Segmentation Analysis
- North America
- The UK
- Rest of Europe
- Asia Pacific
- South Korea
- Southeast Asia
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Middle East & Africa
- South Africa
- Rest of Middle East & Africa
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