Global Combined Heat and Power (CHP) Market Growth Opportunities

Global Combined Heat and Power (CHP) Market Growth Opportunities

The Need to Decarbonize the Grid and Obtain Sufficient Thermal Energy Drive CHP Solutions

RELEASE DATE
28-Nov-2022
REGION
Global
Deliverable Type
Market Research
Research Code: MGM5-01-00-00-00
SKU: EG02287-GL-MT_27169
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Global Combined Heat and Power (CHP) Market Growth Opportunities
Published on: 28-Nov-2022 | SKU: EG02287-GL-MT_27169

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As governments prioritize climate change mitigation, the cogeneration of heat and power emerges as an essential enabling factor for energy efficiency. Factors driving cogeneration adoption are energy efficiency requisites, energy conservation efforts, rising energy prices, the demand for clean energy generation, and grid resilience and ability to complement variable renewables. Political willingness, favorable government initiatives, and the move toward carbon neutrality also encourage adoption. However, geopolitical chaos, such as the Russo-Ukrainian War, disrupts and limits gas supplies, causing a slowdown in gas-led CHP installations.

Trends expected to play a significant role in the combined heat and power (CHP) market are fuel diversification, including hydrogen and renewable fuel-based systems, to transition to net-zero-carbon systems; hybridization; and greater installation of high-efficiency systems to replace traditional systems.

In this report, Frost & Sullivan analyzes the CHP market by:
• Region: North America, Europe, Asia-Pacific (APAC, including China), South America, and the Middle East and Africa (MEA)
• Prime mover: Gas engine, gas turbine [including combined cycle gas turbines (CCGT)], others (including steam turbine and fuel cells)
• Application: Residential, commercial and institutional (C&I), industrial and utility
• Annual installed base (by prime mover, region, and application) and revenue (by region)

The study period is 2020–2030 and the forecast period is 2022–2030, with 2022 as the base year. Other information includes growth drivers and restraints and the market share of prominent participants in gas engines, gas turbines, and steam turbines. Frost & Sullivan provides an in-depth look into the CHP market to enable stakeholders to capitalize on opportunities over the next eight years.

Author: Neha Tatikota

Why is it Increasingly Difficult to Grow?

The Strategic Imperative 8™

The Impact of the Top 3 Strategic Imperatives on the Global CHP Market

Growth Opportunities Fuel the Growth Pipeline Engine™

Growth Opportunity Analysis

Findings

The Cogeneration Principle

The CHP Market’s Future Dimensions—Outlook for the New CHP Era

Scope of Analysis

Segmentation by Prime Mover

Competitors

Growth Metrics

Distribution Channel Analysis

Growth Drivers

Growth Restraints

Growth Restraints (continued)

Forecast Assumptions

Revenue and Annual Installed Capacity Forecast

Revenue Forecast by Region

Annual Installed Capacity Forecast by Region

Annual Installed Capacity Forecast by Prime Mover

Annual Installed Capacity Forecast by Application

Revenue and Annual Installed Capacity Forecast Analysis

Revenue and Annual Installed Capacity Forecast Analysis (continued)

Revenue Forecast Analysis by Region

Revenue Forecast Analysis by Region (continued)

Competitive Environment

Market Share of Gas Engines

Market Share of Gas Turbines

Market Share of Steam Turbines

Market Share Analysis

Growth Metrics

Revenue and Annual Installed Capacity Forecast

Annual Installed Capacity Forecast by Prime Mover

Annual Installed Capacity Forecast by Application

Revenue and Annual Installed Capacity Forecast Analysis

Revenue and Annual Installed Capacity Forecast Analysis (continued)

Revenue and Annual Installed Capacity Forecast Analysis (continued)

Revenue and Annual Installed Capacity Forecast Analysis (continued)

Revenue and Annual Installed Capacity Forecast Analysis (continued)

Growth Metrics

Revenue and Annual Installed Capacity Forecast

Annual Installed Capacity Forecast by Prime Mover

Annual Installed Capacity Forecast by Application

Revenue and Annual Installed Capacity Forecast Analysis

Revenue and Annual Installed Capacity Forecast Analysis (continued)

Revenue and Annual Installed Capacity Forecast Analysis (continued)

Revenue and Annual Installed Capacity Forecast Analysis (continued)

Growth Metrics

Revenue and Annual Installed Capacity Forecast

Annual Installed Capacity Forecast by Prime Mover

Annual Installed Capacity Forecast by Application

Revenue and Annual Installed Capacity Forecast Analysis

Revenue and Annual Installed Capacity Forecast Analysis (continued)

Growth Metrics

Revenue and Annual Installed Capacity Forecast

Annual Installed Capacity Forecast by Prime Mover

Annual Installed Capacity Forecast by Application

Revenue and Annual Installed Capacity Forecast Analysis

Revenue and Annual Installed Capacity Forecast Analysis (continued)

Growth Metrics

Revenue and Annual Installed Capacity Forecast

Annual Installed Capacity Forecast by Prime Mover

Annual Installed Capacity Forecast by Application

Revenue and Annual Installed Capacity Forecast Analysis

Revenue and Annual Installed Capacity Forecast Analysis (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: Virtual Power Plants (VPPs) and Ability to Access Additional Grid Revenue

Growth Opportunity 3: Virtual Power Plants (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)

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As governments prioritize climate change mitigation, the cogeneration of heat and power emerges as an essential enabling factor for energy efficiency. Factors driving cogeneration adoption are energy efficiency requisites, energy conservation efforts, rising energy prices, the demand for clean energy generation, and grid resilience and ability to complement variable renewables. Political willingness, favorable government initiatives, and the move toward carbon neutrality also encourage adoption. However, geopolitical chaos, such as the Russo-Ukrainian War, disrupts and limits gas supplies, causing a slowdown in gas-led CHP installations. Trends expected to play a significant role in the combined heat and power (CHP) market are fuel diversification, including hydrogen and renewable fuel-based systems, to transition to net-zero-carbon systems; hybridization; and greater installation of high-efficiency systems to replace traditional systems. In this report, Frost & Sullivan analyzes the CHP market by: • Region: North America, Europe, Asia-Pacific (APAC, including China), South America, and the Middle East and Africa (MEA) • Prime mover: Gas engine, gas turbine [including combined cycle gas turbines (CCGT)], others (including steam turbine and fuel cells) • Application: Residential, commercial and institutional (C&I), industrial and utility • Annual installed base (by prime mover, region, and application) and revenue (by region) The study period is 2020–2030 and the forecast period is 2022–2030, with 2022 as the base year. Other information includes growth drivers and restraints and the market share of prominent participants in gas engines, gas turbines, and steam turbines. Frost & Sullivan provides an in-depth look into the CHP market to enable stakeholders to capitalize on opportunities over the next eight years. Author: Neha Tatikota
More Information
Deliverable Type Market Research
Author Neha Tatikota
Industries Energy
No Index No
Is Prebook No
Podcast No
WIP Number MGM5-01-00-00-00