Market Overview

The Global Combined Heat & Power Market was valued at USD 28,602.5 million in 2023 and is expected to reach USD 49,884.0 million by 2031 while growing at a CAGR of 7.2% during the forecast period (2024-2031).

*Note: Graph is shown for illustrative purposes only; complete datasets will be provided in the full report

Market Dynamics

This section of the report will analyze various driving and restraining factors that are expected to have a significant impact on the global combined heat & power market growth. Combined Heat and Power (CHP), or cogeneration, efficiently generates both electric power and useful thermal energy from a single source. Unlike conventional power plants with efficiencies below 50%, CHP systems maximize energy use by capturing and utilizing waste heat from electricity generation.

Increasing demand for Energy Efficiency and Cost Savings, as well as Energy Security and Reliability, propels the growth of the combined heat and power (CHP) market. Nevertheless, obstacles like High Initial Capital Costs and Technical and Operational Challenges may impede market expansion.

Furthermore, the global combined heat & power industry will be analyzed through various tools including PESTLE analysis, and Porter’s analysis.

Segmentation – By End-user Sector Analysis

The Global Combined Heat & Power Market is segmented among Commercial, Residential, and Industrial and Utility, based on End-user Sector. In 2023, Industrial and Utility accounted for the majority of the market share*.

*Note: Graph is shown for illustrative purposes only; complete datasets will be provided in the full report

Segmentation – By Type Analysis

The Global Combined Heat & Power Market is segmented among Gas Turbine, Steam Turbine, and Other Types, based on Type. In 2023, Other Types accounted for the majority of the market share*.

*Note: Graph is shown for illustrative purposes only; complete datasets will be provided in the full report

Global Combined Heat & Power Market: Regional Analysis

Based on region, the market is divided into six regions including North America, Europe, Asia Pacific, Latin America, Middle East, and Africa. In 2023, Europe dominated the market with the highest market share, while Asia Pacific is expected to grow with the highest CAGR during the forecast period (2024 – 2031). 

 *Note: Graph is shown for illustrative purposes only; complete datasets will be provided in the full report

Competitive Landscape

Some of the key players operating in the market are MAN Diesel & Turbo SE, Centrica PLC, Caterpillar Inc., Mitsubishi Electric Corporation, General Electric Company, Kawasaki Heavy Industries Ltd, Bosch Thermotechnology GmbH, Viessmann Werke Group GmbH & Co. KG, FuelCell Energy Inc., Seimens Energy AG, and Wartsila Oyj Abp.

Table of Contents:

1. Research Methodology and Market Scope

• Research Methodology

• Market Scope

2. Executive Summary

3. Global Combined Heat & Power Market Dynamics

• Drivers

• Restraints

• Opportunity

4. Global Combined Heat & Power Industry Analysis

• PEST Analysis

• Porter's Five Force Analysis

• Recent Deals Analysis

5. Global Combined Heat & Power Market Segmentation, By End-user Sector

• Global Combined Heat & Power Market Share Analysis, By End-user Sector

• Global Combined Heat & Power Market Growth Analysis, By End-user Sector

• Global Combined Heat & Power Market Trends, By End-user Sector

o Commercial

o Residential

o Industrial and Utility

6. Global Combined Heat & Power Market Segmentation, By Type

• Global Combined Heat & Power Market Share Analysis, By Type

• Global Combined Heat & Power Market Growth Analysis, By Type

• Global Combined Heat & Power Market Trends, By Type

o Gas Turbine

o Steam Turbine

o Other Types

7. Global Combined Heat & Power Market Segmentation, By Fuel Type

• Global Combined Heat & Power Market Share Analysis, By Fuel Type

• Global Combined Heat & Power Market Growth Analysis, By Fuel Type

• Global Combined Heat & Power Market Trends, By Fuel Type

o Natural Gas

o Renewables

o Other Fuel Types

8. Global Combined Heat & Power Market Segmentation, By Region

• Global Combined Heat & Power Market Share Analysis, By Region

• Global Combined Heat & Power Market Growth Analysis, By Region

• Global Combined Heat & Power Market Trends, By Region

o North America

o Europe

o Asia Pacific

o Latin America

o Middle East

o Africa

9. Competitive Landscape

• MAN Diesel & Turbo SE.*

o Company Overview

o Financial Performance

o Key Development/Strategies

o SWOT Analysis

• Centrica PLC

• Caterpillar Inc.

• Mitsubishi Electric Corporation

• General Electric Company

• Kawasaki Heavy Industries Ltd

• Bosch Thermotechnology GmbH

• Viessmann Werke Group GmbH & Co. KG

• FuelCell Energy Inc.

• Siemens Energy AG

• Wartsila Oyj Abp

 *Similar analysis will be provided for each company listed above.