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Global Combined Heat and Power (CHP) Market 2019-2023 | Evolving Opportunities with GENERAL ELECTRIC and MAN SE | Technavio

Technavio has announced its latest market research report titled global combined heat and power market 2019-2023. (Graphic: Business Wire)

LONDON--(BUSINESS WIRE)--

Technavio has been monitoring the global combined heat and power (CHP) market and the market is poised to grow by 124.76 GW during 2019-2023 at a CAGR of close to 3% during the forecast period. Request Free Sample Pages

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Read the 124-page research report with TOC on "Combined Heat and Power (CHP) Market Analysis Report by Fuel (Coal, Natural gas, and Others), by Geography (Americas, APAC, and EMEA), and Segment Forecasts, 2019 - 2023".

The market is driven by the economic and environmental benefits of CHP. In addition, the growing need for clean energy fuel is anticipated to further boost the growth of the combined heat and power (CHP) market.

CHP is an energy-efficient technology as it captures heat that would otherwise be wasted. It is preferred over conventional electricity generation method since it consumes a lesser amount of fuel to produce energy. In addition, CHP systems avoid transmission and distribution (T&D) losses, ease grid congestion during high demand for electricity and eliminate the need for the development of T&D infrastructure. Thus, the power-generating facilities of CHP along with significant economic and environmental benefits are expected to drive market growth during the forecast period.

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Major Five Combined Heat and Power (CHP) Market Companies:

GENERAL ELECTRIC

GENERAL ELECTRIC is headquartered in the US and operates the business under various segments such as Power, Renewable Energy, Oil & Gas, Aviation, Healthcare, Transportation, Lighting, and Capital. The company offers CHP systems and designs and develops cogeneration engineering and equipment.

MAN SE

MAN SE is headquartered in Germany and offers products through the following business units: MAN Truck & Bus, MAN Latin America, MAN Diesel & Turbo, Renk, and Corporate Center. The company offers CHP plant and engine-based CHP to various end-users.

MITSUBISHI HEAVY INDUSTRIES, LTD.

MITSUBISHI HEAVY INDUSTRIES, LTD. is headquartered in Japan and operates under various business segments, namely Power Systems, Industry & Infrastructure, Aircraft, Defense & Space, and Others/Eliminations or Corporate. The company offers gas engine plants with enhanced power thermal efficiencies.

Siemens

Siemens is headquartered in Germany and offers products through the following business segments: Power and Gas, Energy Management, Building Technologies, Mobility, Digital Factory, Process Industries and Drive, Siemens Healthineers, Siemens Gamesa Renewable Energy, and Financial Services.

Wärtsilä

Wärtsilä is headquartered in Finland and offers products through the following business segments: Services, Energy Solutions, and Marine Solutions. The company constructs CHP plants for district heating and steam generation and other applications.

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Combined Heat and Power (CHP) Fuel Outlook (Revenue, USD Million, 2019 - 2023)

  • Coal
  • Natural gas
  • Others

Combined Heat and Power (CHP) Regional Outlook (Revenue, USD Million, 2019 - 2023)

  • Americas
  • APAC
  • EMEA

Technavio’s sample reports are free of charge and contain multiple sections of the report, such as the market size and forecast, drivers, challenges, trends, and more. Request a free sample report

Related Reports on Utilities include:

Micro Combined Heat And Power (micro-CHP) Market – Global Micro Combined Heat And Power (micro-CHP) Market by technology (fuel cells and engines) and geography (APAC and ROW).

Natural Gas-Fired Power Generation Market – Global Natural Gas-Fired Power Generation Market by type (CCGT and OCGT) and geography (APAC, Europe, MEA, North America, and South America).

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View source version on businesswire.com: https://www.businesswire.com/news/home/20191122005387/en/