Combined Heat and Power Market Dynamics, Regional analysis, Key Developments and Forecast 2024

The global combined heat and power market is growing at a good rate and also expected to grow at a decent rate in the coming years, as it increases the efficiency of power generation up to 80% and is suited for industrial parks, military bases, college campuses, and others which are close to the power sources to use the cogenerated heat.

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On the basis of fuel, the combined heat and power market is categorized into natural gas, coal and biomass.

Based on capacity, the combined heat and power market is classified into >10 MW, 10-150 MW, 151-300 MW, >300MW.

On the basis of technology, the combined heat and power market is categorized into combined cycle, steam turbine, gas turbine, reciprocating engine, and others.

Based on end-user, the combined heat and power market is classified into residential, commercial and industrial users.

Increasing energy demand in commercial and industrial sector, stringent government regulation, abundant natural gas supply along with low pricing are the major factors that are driving the combined heat and power market growth.

ENER-G Rudox, AN Diesel & Turbo, General Electric, Caterpillar, Mitsubishi, Kawasaki, Bosch Thermotechnology, Viessmann Werke, FuelCell Energy, MWM, Cummins, Veolia, BDR Thermea, CENTRAX Gas Turbines, Wartsila, ABB, 2G Energy, Aegis Energy, and Siemens AG are some of the major players operating in the combined heat and power industry.

Source: VynZ Research