Global On-Grid Combined Heat & Power Market Size, Share, Growth, Trends, and Forecast (2024 - 2031)
Global On-Grid Combined Heat & Power Market Scope: Historical Data (2021 – 2022), Base Year (2023), Forecast Period (2024 – 2031)
Market Segmentation: By Application (Utilities, Commercial and Industrial, and Residential), Fuel Type (Natural Gas, Coal, Oil, Biomass, and Other Fuel Types), and Region (North America, Europe, Asia Pacific, Latin America, Middle East, and Africa)
Market Overview
The Global On-Grid Combined Heat & Power Market was valued at USD 29,795.0 million in 2023 and is expected to reach USD 46,776.6 million by 2031 while growing at a CAGR of 5.8% 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 on-grid combined heat & power market growth. On-Grid Combined Heat and Power (CHP), or cogeneration, is an efficient energy generation method that produces electricity and useful heat simultaneously from a single source. It operates within a connected power grid, exporting excess electricity when on-site demand is surpassed.
Increasing energy efficiency and cost savings, along with the expansion of industrial and commercial activities, particularly in economically growing regions, propel the growth of the on-grid CHP market. Nonetheless, obstacles like high initial investment costs and system integration complexity may impede market expansion.
Furthermore, the global on-grid combined heat & power industry will be analyzed through various tools including PESTLE analysis, and Porter’s analysis.
Segmentation – By Application Analysis
The Global On-Grid Combined Heat & Power Market is segmented among Utilities, Commercial and Industrial, and Residential, based on Application. In 2023, Utilities 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 Fuel Type Analysis
The Global On-Grid Combined Heat & Power Market is segmented among Natural Gas, Coal, Oil, Biomass, and Other Fuel Types, based on Fuel Type. In 2023, Biomass 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 On-Grid 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, North America 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 General Electric Company, Kawasaki Heavy Industries Ltd, Bosch Thermotechnology GmbH, Viessmann Werke, Centrica PLC, Seimens AG, Wartsila Oyj Abp, MAN Diesel & Turbo SE, Caterpillar Inc., Mitsubishi Electric Corporation, and FuelCell Energy Inc.
Table of Contents:
1. Research Methodology and Market Scope
Research Methodology
Market Scope
2. Executive Summary
3. Global On-Grid Combined Heat & Power Market Dynamics
Drivers
Restraints
Opportunity
4. Global On-Grid Combined Heat & Power Industry Analysis
PEST Analysis
Porter's Five Force Analysis
Recent Deals Analysis
5. Global On-Grid Combined Heat & Power Market Segmentation, By Application
Global On-Grid Combined Heat & Power Market Share Analysis, By Application
Global On-Grid Combined Heat & Power Market Growth Analysis, By Application
Global On-Grid Combined Heat & Power Market Trends, By Application
o Utilities
o Commercial and Industrial
o Residential
6. Global On-Grid Combined Heat & Power Market Segmentation, By Fuel Type
Global On-Grid Combined Heat & Power Market Share Analysis, By Fuel Type
Global On-Grid Combined Heat & Power Market Growth Analysis, By Fuel Type
Global On-Grid Combined Heat & Power Market Trends, By Fuel Type
o Natural Gas
o Coal
o Oil
o Biomass
o Other Fuel Types
7. Global On-Grid Combined Heat & Power Market Segmentation, By Region
Global On-Grid Combined Heat & Power Market Share Analysis, By Region
Global On-Grid Combined Heat & Power Market Growth Analysis, By Region
Global On-Grid Combined Heat & Power Market Trends, By Region
o North America
o Europe
o Asia Pacific
o Latin America
o Middle East
o Africa
8. Competitive Landscape
General Electric Company*
o Company Overview
o Financial Performance
o Key Development/Strategies
o SWOT Analysis
Kawasaki Heavy Industries Ltd
Bosch Thermotechnology GmbH
Viessmann Werke
Centrica PLC
Siemens AG
Wartsila Oyj Abp
MAN Diesel & Turbo SE
Caterpillar Inc.
Mitsubishi Electric Corporation
FuelCell Energy Inc
*Similar analysis will be provided for each company listed above.