Flexible CHP Systems will Play a Significant Role in Grid Stabilization and Resilience

Flexible CHP Systems will Play a Significant Role in Grid Stabilization and Resilience

Decentralization will become More Autonomous and Resilient to Grid Outages Amidst the Need to Create Cleaner Energy Onsite, where CHP will Play an Important Role in the New and Evolving Grid

RELEASE DATE
16-Apr-2021
REGION
Global
Research Code: MFCA-01-00-00-00
SKU: EG02141-GL-MT_25324

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Description

The global combined heat and power (CHP) market is poised to grow at a moderate CAGR of 4.8% from 2020 to 2030. The industrial and utility segment is expected to account for the major share of CHP installations throughout the forecast period. From a technology standpoint, gas-based CHP will continue to dominate the market.

Favorable legislation will continue to propel market growth. A number of government initiatives will drive energy generation from clean sources; political willingness will also be an important growth driver throughout the forecast period. As governments prioritize climate change, cogeneration supported by distributed and onsite power generation has come to the forefront as one of the solutions proposed to achieve energy efficiency. Key factors for cogeneration adoption are energy efficiency requisites, energy conservation efforts, favorable government initiatives, rising energy prices, the drive toward carbon neutrality, greater primary energy savings, grid ability to complement variable renewables, and resilience. Other trends expected to play a major role in the CHP market of the future are fuel diversification, including hydrogen and renewable fuel-based systems to transition to net-zero-carbon systems and greater installation of high-efficiency systems (replacing traditional systems).

As future grids will become more autonomous, advanced digital services will enable reduced maintenance costs and downtime amidst improved revenue opportunities for stakeholders across the value chain. OEMs will look to stay ahead of the competition through the use of AI and Big Data to track and predict grid conditions and support smart/optimized systems with CHP and DERs. The as-a-service business approach that includes the build, own, and operate model for guaranteed performance and energy savings will also proliferate the market, especially in the commercial and industrial segments. Based on end-user preference, technical know-how, and financial ability, as-a-service models will help the end customer leverage all the direct benefits of CHP and on-site power production to mitigate price, downtime, and operational risks.

North America and Europe are primarily led by supportive regulatory frameworks and incentives and higher spark-spread destinations. In Asia-Pacific, the gap between the demand and the supply of power/electricity has created a need for CHP. Japan, China, and South Korea have become attractive destinations for market expansion. Microgrid market growth is also expected to spur demand for CHP in hybrid installations that comprise additional DERs, including renewable energy resources and storage devices, wherein CHP will play a critical role in terms of providing a reliable and stable source of power to offer resilient power for proximate facilities with critical loads.

Key Issues Addressed

What is the impact of the top three strategic imperatives on the global CHP market?

What are the key growth drivers and restraints?

What is the revenue and the annual installed capacity for the total market and the regions, the prime mover technologies, and the applications under study?

What does the competitive environment look like? Which companies are the key market participants?

What are the key growth opportunities that market participants can leverage?

Author: Neha Tatikota

Table of Contents

Why Is It Increasingly Difficult to Grow?

Growth Opportunity Analysis, CHP Market

Key Findings, CHP Market

The Strategic Imperative 8™

The Impact of the Top Three Strategic Imperatives on the Global CHP Market

Growth Opportunities Fuel the Growth Pipeline Engine™

The Cogeneration Principle

Future Dimensions of the CHP Market—Outlook for the New CHP Era

CHP Market—Scope of Analysis

Market Segmentation by Prime Mover

Key Competitors in the CHP Market

Key Growth Metrics for the CHP Market

Distribution Channel Analysis for the CHP Market

Growth Drivers for the CHP Market

Growth Restraints for the CHP Market

Forecast Assumptions, CHP Market

Revenue and Annual Installed Capacity Forecast, CHP Market

Revenue Forecast by Region, CHP Market

Annual Installed Capacity Forecast by Region, CHP Market

Annual Installed Capacity Forecast by Prime Mover, CHP Market

Annual Installed Capacity Forecast by Application, CHP Market

Revenue and Annual Installed Capacity Forecast Analysis, CHP Market

Revenue Forecast Analysis by Region, CHP Market

Revenue Forecast Analysis by Region, CHP Market (continued)

Competitive Environment, CHP Market

Market Share of Gas Engines, CHP Market

Market Share of Gas Turbines, CHP Market

Market Share of Steam Turbines, CHP Market

Market Share Analysis, CHP Market

Key Growth Metrics for the CHP Market, North America

Revenue and Annual Installed Capacity Forecast, CHP Market, North America

Annual Installed Capacity Forecast by Prime Mover, CHP Market, North America

Annual Installed Capacity Forecast by Application, CHP Market, North America

Revenue and Annual Installed Capacity Forecast Analysis, CHP Market, North America

Revenue and Annual Installed Capacity Forecast Analysis, CHP Market, North America (continued)

Revenue and Annual Installed Capacity Forecast Analysis, CHP Market, North America (continued)

Revenue and Annual Installed Capacity Forecast Analysis, CHP Market, North America (continued)

Revenue and Annual Installed Capacity Forecast Analysis, CHP Market, North America (continued)

Key Growth Metrics for the CHP Market, Europe

Revenue and Annual Installed Capacity Forecast, CHP Market, Europe

Annual Installed Capacity Forecast by Prime Mover, CHP Market, Europe

Annual Installed Capacity Forecast by Application, CHP Market, Europe

Revenue and Annual Installed Capacity Forecast Analysis, CHP Market, Europe

Revenue and Annual Installed Capacity Forecast Analysis, CHP Market, Europe (continued)

Revenue and Annual Installed Capacity Forecast Analysis, CHP Market, Europe (continued)

Revenue and Annual Installed Capacity Forecast Analysis, CHP Market, Europe (continued)

Revenue and Annual Installed Capacity Forecast Analysis, CHP Market, Europe (continued)

Key Growth Metrics for the CHP Market, Asia-Pacific

Revenue and Annual Installed Capacity Forecast, CHP Market, Asia-Pacific

Annual Installed Capacity Forecast by Prime Mover, CHP Market, Asia-Pacific

Annual Installed Capacity Forecast by Application, CHP Market, Asia-Pacific

Revenue and Annual Installed Capacity Forecast Analysis, CHP Market, Asia-Pacific

Revenue and Annual Installed Capacity Forecast Analysis, CHP Market, Asia-Pacific (continued)

Key Growth Metrics for the CHP Market, The Middle East And Africa

Revenue and Annual Installed Capacity Forecast, CHP Market, The Middle East And Africa

Annual Installed Capacity Forecast by Prime Mover, CHP Market, The Middle East And Africa

Annual Installed Capacity Forecast by Application, CHP Market, The Middle East And Africa

Revenue and Annual Installed Capacity Forecast Analysis, CHP Market, The Middle East And Africa

Revenue and Annual Installed Capacity Forecast Analysis, CHP Market, The Middle East And Africa (continued)

Key Growth Metrics for the CHP Market, South America

Revenue and Annual Installed Capacity Forecast, CHP Market, South America

Annual Installed Capacity Forecast by Prime Mover, CHP Market, South America

Annual Installed Capacity Forecast by Application, CHP Market, South America

Revenue and Annual Installed Capacity Forecast Analysis, CHP Market, South America

Revenue and Annual Installed Capacity Forecast Analysis, CHP Market, South America (continued)

Growth Opportunity 1—Flexible Business Models and Solutions-as-a-Service to Enable Actionable Intelligence

Growth Opportunity 1—Flexible Business Models and Solutions-as-a-Service to Enable Actionable Intelligence (continued)

Growth Opportunity 2—Microgeneration Growth will Render Macro Possibilities for CHP Installations

Growth Opportunity 2—Microgeneration Growth will Render Macro Possibilities for CHP Installations (continued)

Growth Opportunity 3—VPPs and Ability to Access Additional Grid Revenue

Growth Opportunity 3—VPPs and Ability to Access Additional Grid Revenue (continued)

Growth Opportunity 4—Widespread Servicing Network

Growth Opportunity 4—Widespread Servicing Network (continued)

Your Next Steps

Why Frost, Why Now?

List of Exhibits

List of Exhibits (continued)

List of Exhibits (continued)

Legal Disclaimer

Related Research
The global combined heat and power (CHP) market is poised to grow at a moderate CAGR of 4.8% from 2020 to 2030. The industrial and utility segment is expected to account for the major share of CHP installations throughout the forecast period. From a technology standpoint, gas-based CHP will continue to dominate the market. Favorable legislation will continue to propel market growth. A number of government initiatives will drive energy generation from clean sources; political willingness will also be an important growth driver throughout the forecast period. As governments prioritize climate change, cogeneration supported by distributed and onsite power generation has come to the forefront as one of the solutions proposed to achieve energy efficiency. Key factors for cogeneration adoption are energy efficiency requisites, energy conservation efforts, favorable government initiatives, rising energy prices, the drive toward carbon neutrality, greater primary energy savings, grid ability to complement variable renewables, and resilience. Other trends expected to play a major role in the CHP market of the future are fuel diversification, including hydrogen and renewable fuel-based systems to transition to net-zero-carbon systems and greater installation of high-efficiency systems (replacing traditional systems). As future grids will become more autonomous, advanced digital services will enable reduced maintenance costs and downtime amidst improved revenue opportunities for stakeholders across the value chain. OEMs will look to stay ahead of the competition through the use of AI and Big Data to track and predict grid conditions and support smart/optimized systems with CHP and DERs. The as-a-service business approach that includes the build, own, and operate model for guaranteed performance and energy savings will also proliferate the market, especially in the commercial and industrial segments. Based on end-user preference, technical know-how, and financial ability, as-a-service models will help the end customer leverage all the direct benefits of CHP and on-site power production to mitigate price, downtime, and operational risks. North America and Europe are primarily led by supportive regulatory frameworks and incentives and higher spark-spread destinations. In Asia-Pacific, the gap between the demand and the supply of power/electricity has created a need for CHP. Japan, China, and South Korea have become attractive destinations for market expansion. Microgrid market growth is also expected to spur demand for CHP in hybrid installations that comprise additional DERs, including renewable energy resources and storage devices, wherein CHP will play a critical role in terms of providing a reliable and stable source of power to offer resilient power for proximate facilities with critical loads.--BEGIN PROMO--

Key Issues Addressed

What is the impact of the top three strategic imperatives on the global CHP market?

What are the key growth drivers and restraints?

What is the revenue and the annual installed capacity for the total market and the regions, the prime mover technologies, and the applications under study?

What does the competitive environment look like? Which companies are the key market participants?

What are the key growth opportunities that market participants can leverage?

Author: Neha Tatikota

More Information
No Index No
Podcast No
Author Neha Tatikota
Industries Energy
WIP Number MFCA-01-00-00-00
Is Prebook No
GPS Codes 9B00-A4,9851