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Combined heat and power market to grow by USD 9.35 billion from 2023 to 2028, APAC accounts for 52% of market growth – Technavio


NEW YORK, Dec. 8, 2023 /PRNewswire/ — The combined heat and power market size is expected to grow by USD 9.35 billion from 2023 to 2028. In addition, the growth momentum of the market will progress at a CAGR of 6.29% during the forecast period, according to Technavio. An increase in the consumption of energy globally is notably driving the combined heat and power market. However, factors such as high cost associated with combined heat and power units may impede market growth. The market is segmented by product (natural gas, coal, and others), end-user (industrial, commercial, and residential), and geography (APAC, Europe, North America, South America, and Middle East and Africa). We provide a detailed analysis of 20 companies operating in the combined heat and power market including  ABB Ltd., Ameresco Inc., Capstone Green Energy Corp., Caterpillar Inc., Cummins Inc., FuelCell Energy Inc., General Electric Co., Helec Ltd., HoSt Holding B.V., Kawasaki Heavy Industries Ltd., Kraft Power Corp., Mitsubishi Heavy Industries Ltd., MTT bv, Robert Bosch GmbH, Rolls Royce Holdings Plc, Siemens Energy AG, Traton SE, Veolia Environnement SA, Wartsila Corp., and 2G Energy AG.


Technavio has announced its latest market research report titled Global Combined Heat and Power Market 2024-2028

The report offers an up-to-date analysis of the market, and to know the exact growth variance and the Y-O-Y growth rate, Request a Sample Report.

Combined Heat And Power Market 2024-2028: Company Analysis

  • ABB Ltd: The company offers combined heat and power products such as Agenitor.

This report provides a full list of key companies, their strategies, and latest developments. Buy Now for detailed company information

Combined Heat And Power Market 2024-2028: Segmentation

Product

The natural gas segment is estimated to witness significant growth during the forecast period. Given its clean-burning properties, energy efficiency, and availability, natural gas is one of the most common choices for combined heat and power systems. Furthermore, its environmental sustainability is a key advantage of the natural gas segment. Therefore, this segment is growing at a rapid rate and thus driving market growth over the forecast period.

Geography 

APAC accounts for 52% of market growth. The favorable government initiatives aimed at increasing the uptake of combined heat and electricity are one of the major factors that contribute to the growth of the market in the APAC region. For instance, since 2012, the feed-in tariff mechanism has been prevalent in Japan, wherein preferable tax treatments and certain subsidies are available for combined heat and power.


Learn about the contribution of each segment summarized in concise infographics and thorough descriptions. View a PDF Sample Report

Combined Heat And Power Market 2024-2028: Key Highlights

  • Historic Market Size 2018-2022
  • CAGR of the market during 2024-2028
  • Detailed information on factors that will assist combined heat and power market growth during the next five years
  • Estimation of the market size and its contribution to the parent market
  • Forecasts on upcoming trends and changes in consumer behavior
  • The growth of the combined heat and power market
  • Analysis of the competitive landscape and detailed information on companies
  • Comprehensive details of factors that will impede the growth of combined heat and power market companies

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The India – solar power market size is estimated to grow at a CAGR of 34.24% between 2022 and 2027. The market size is forecast to increase by USD 273.82 billion.

Combined Heat And Power Market Scope

Report Coverage

Details

Base year

2023

Historic period

2018-2022

Forecast period

2024-2028

Growth momentum & CAGR

Accelerate at a CAGR of 6.29%

Market Growth 2024-2028

USD 9.35 billion

Market structure

Fragmented

YoY growth 2022-2023 (%)

6.01

Regional analysis

APAC, Europe, North America, South America, and Middle East and Africa

Performing market contribution

APAC at 52%

Key countries

US, China, India, Japan, and Germany

Competitive landscape

Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks

Key companies profiled

ABB Ltd., Ameresco Inc., Capstone Green Energy Corp., Caterpillar Inc., Cummins Inc., FuelCell Energy Inc., General Electric Co., Helec Ltd., HoSt Holding B.V., Kawasaki Heavy Industries Ltd., Kraft Power Corp., Mitsubishi Heavy Industries Ltd., MTT bv, Robert Bosch GmbH, Rolls Royce Holdings Plc, Siemens Energy AG, Traton SE, Veolia Environnement SA, Wartsila Corp., and 2G Energy AG

Market dynamics

Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, Market condition analysis for the forecast period. 

Customization purview

If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.

ToC:

Executive Summary

Market Landscape

Market Sizing

Historic Market Sizes

Five Forces Analysis

Market Segmentation by Product

Market Segmentation by End-user 

Market Segmentation by Geography

Customer Landscape

Geographic Landscape

Drivers, Challenges, & Trends

Company Landscape

Company Analysis

Appendix

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provide actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

Contacts

Technavio Research

Jesse Maida

Media & Marketing Executive

US: +1 844 364 1100

UK: +44 203 893 3200

Email: media@technavio.com

Website: www.technavio.com

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