Global Combined Heat & Power Market Size, Share, Growth, Trends, and Forecast (2024 - 2031)
Global Combined Heat & Power Market Scope: Historical Data (2021 – 2022), Base Year (2023), Forecast Period (2024 – 2031)
Market Segmentation: By End-user Sector (Commercial, Residential, and Industrial and Utility), Type (Gas Turbine, Steam Turbine, and Other Types), Fuel Type (Natural Gas, Renewables, and Other Fuel Types), and Region (North America, Europe, Asia Pacific, Latin America, Middle East, and Africa)
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.