Global Combined Heat and Power (CHP) Market Growth Opportunities

Global Combined Heat and Power (CHP) Market Growth Opportunities

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.