Combined Heat and Power (CHP) Installation Market : Analysis and Information for Every Aspact of the Industry

CHP is a technology that utilizes the energy efficiently by both generating power and utilizing the produced heat for other purposes. In contrast to conventional systems, CHP systems, due to their energy utilization process, are able to save 40% of energy additionally. Furthermore, CHP systems generates the energy locally which eliminates the energy transmission and distribution via local distribution networks, further avoiding efficiency losses. End-users for whom security of power supply is a main factor in the selection of power generation equipment, CHP systems are ideal solution for them. CHP, also known as cogeneration, not only reduces energy costs but also reduces the greenhouse gas emissions. CHP systems primarily consist of generators, engines, compressors, heat exchangers, control systems, turbines, boilers, and feed water tanks.

International environmental mandates to reduce carbon footprints and greenhouse gas emissions are driving the adoption of CHP technology across the globe. The underlying objective of energy security is being achieved through the adoption of CHP in the residential, commercial, and industrial applications in various regions. Increasing awareness about the benefits of energy efficient technologies is leading the growth of CHP installations globally. Supportive policies and feed-in-tariffs (FiTs) provided by the government institutions for installing CHP systems are the major drivers for boosting the market for CHP systems. Additionally, low fuel pricing also plays a major role in growth of the CHP installation market.

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The CHP installation market has been segmented on the basis of type, application, technology, fuel, and region. In terms of technology, combined cycle-based CHP systems held about 64.43% share of the CHP installation market in 2014. Global estimates for 2014 show that industrial consumers accounted for nearly 65.89%, followed by commercial and residential consumers. This disparity is due to the higher cost savings offered by large-scale CHP plants in industrial applications. However, micro & small-scale CHP units may witness a rapid growth owing to short payback period and high energy savings.

Rising demand for energy security and emphasis on reducing energy losses due to inefficient conventional boilers are boosting the CHP installation market. Increasing awareness about the cost benefits of CHP is also responsible for the growth of the CHP installation market globally.

The CHP installation market has been segmented into four regions: North America, Europe, Asia Pacific, and Rest of World. Europe held the largest CHP installation market share in 2014. During the forecast period of 2016–2024, growth of CHP system installations is likely to shift from Europe to Asia Pacific, followed by North America and Middle East and Africa. Asia Pacific with some of the fastest growing economies may witness the highest growth in the CHP installation market. Additionally, availability of coal may further boost the CHP installation market in the region.

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Natural gas and coal being two of the most easily available fuels at low costs are widely used in CHP systems. However, due to high environmental footprint and high handling costs, utilization of coal in CHP is anticipated to decrease in regions such as Europe and North America. Technologies used in CHP systems generally include combined cycle, steam turbine, combustion/gas turbine, reciprocating engine, fuel cell, microturbine, and waste heat recovery. In 2014, combined cycle held the largest market share, followed by combustion/gas turbine and reciprocating engine.

Regulatory mandates to reduce carbon footprint in Europe is the major driver for the growth of CHP installation market in the region. Asia Pacific was ranked third in terms of CHP installation market growth in 2014. In 2014, the market in Rest of World witnessed a gradual growth, however, it is anticipated that environmental regulatory norms would boost the CHP installation market growth in these regions. In Europe, Germany, Russia, Poland, and the Netherlands are anticipated to emerge as potential markets for CHP during the forecast period.

Table of Content

1. Preface

2. Executive Summary

3.Global Combined Heat and Power (CHP) Installation Market–Industry Analysis

4. Global Combined Heat and Power (CHP) Installation Market– Type Segment, by Capacity (GW) and Revenue (US$ Bn), 2014–2024

5. Global Combined Heat and Power (CHP) Installation Market– Application Segment, by Capacity (GW) and Revenue (US$ Bn), 2014–2024


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