Cogeneration Equipment - Global Market Outlook (2017-2026)
According to Stratistics MRC, the Global Cogeneration Equipment Market is expected to grow at a CAGR of 5.4% during the forecast period. Some of the key factors influencing the market growth growing demand for energy efficiency in the industries and rising use of natural gas for power generation. However, high installation and maintenance cost is restraining the market growth. Some of the factors such as expansion of distributed power generation in North America and Asia Pacific are creating opportunities for the market growth in the future.
Cogeneration equipment is use to concurrently produce both heat energy and electricity from a single fuel source such as natural gas, biomass, wood, coal, waste heat, or oil. It can operate at levels as high as 77% to 81% as compared to around 46% efficiency of conventional systems and they can decrease carbon emissions by up to 29% as compared to conventional systems.
By technology, the steam turbine segment has witnessed the significant growth during the forecast period due to simple design and cost-effectiveness and mainly preferred technology for industrial purposes particularly among paper and pulp sectors. By Geography, Asia Pacific region holds the largest market share during the forecast period owing to growing CHP systems demand from industrial sector in emerging countries.
Some of the key players in this market include Rolls Royce Plc, Kawasaki Heavy Industries Ltd, Mitsubishi Heavy Industries Ltd., Innovative Steam Technologies, ANDRITZ Energy & Environment GmbH, Bosh Thermotechnology Limited, Foster Wheeler AG, Siemens AG, Clarke Energy, Aegis Energy Services, Inc., 2G Energy Inc., BDR Thermea, Capstone Turbine Corporation, ABB Group and Baxi Group.
• Steam Turbine
• Gas Turbine
• Reciprocating Engine
• Combined Cycle Gas Turbine
• Electric Generators
• Heat Recovery Steam Generators (HRSG)
• Boilers and Reciprocating Engines
• Other Technologies
• Upto 30 MW
• 31MW -60 MW
• 61 MW- 100 MW
• Natural Gas
• Non-Fossil Fuels
• Other Fuels
- North America
- Rest of Europe
- Asia Pacific
- New Zealand
- South Korea
- Rest of Asia Pacific
- South America
- Rest of South America
- Middle East & Africa
- Saudi Arabia
- South Africa
- Rest of Middle East & Africa
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