The Business Research Company’s Combined Heat And Power Global Market Report 2023 is the most detailed report available on the market, including broad forecast periods and multiple geographies. The report covers the historic period – 2010-2021, and the forecast period – 2023-2032. The Combined Heat And Power Global Market Report 2023 evaluates combined heat and power market size, growth rate, drivers, trends, and major companies.
The report provides a global perspective by covering 60 geographies and focusing on major economies in each region – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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The global combined heat and power market size is expected to grow from $25.82 billion in 2022 to $27.73 billion in 2023 at a compound annual growth rate (CAGR) of 7.38%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The market size of the global combined heat and power industry is expected to reach $34.52 billion in 2027 at a CAGR of 5.63%.
The growing adoption of biomass power is driving the growth of the combined heat and power market. Biomass power refers to the energy generated or produced by living or once-living organisms such as plants, in which energy from these organisms can be burned to create heat or converted into electricity. Biomass is used in combined heat and power (CHP) systems to produce energy through the biomass gasification process, as well as in the development of micro-CHPs and hydrogen energy systems by combining biomass gasification to use biomass feedstock to produce fuel cells. For instance, in 2021, according to the US Energy Information Administration (EIA), a US-based federal agency for collecting, analyzing, and disseminating energy information, nearly 5 quadrillion British thermal units (Btu) and 5% of all primary energy used in the United States were provided by biomass in 2021. Additionally, in March 2021, according to the Ministry of New and Renewable Energy, an India-based government agency for new and renewable energy sources, more than 70% of the population of India relies on biomass for its energy needs and accounts for about 32% of the nation’s primary energy use. Therefore, the growing adoption of biomass power is expected to propel the growth of the combined heat and power market in the coming years.
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The combined heat and power market segments in the report are:
1) By Fuel: Natural Gas, Coal, Biomass, Other Fuel
2) By Technology: Combined Cycle, Steam Turbine, Gas Turbine, Reciprocating Engine, Other Technologies
3) By Capacity: Up To 10 MW, 10-150 MW, 151-300 MW, Above 300 MW
4) By End-Use: Commercial, Industrial, Residential, Utilities, Other End-Uses
The table of contents in TBRC’s combined heat and power market report includes:
1. Executive Summary
2. Combined Heat And Power Market Characteristics
3. Combined Heat And Power Market Trends And Strategies
4. Combined Heat And Power Market – Macro Economic Scenario
5. Combined Heat And Power Market Size And Growth
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26. Africa Combined Heat And Power Market
27. Combined Heat And Power Market Competitive Landscape And Company Profiles
28. Key Mergers And Acquisitions In The Combined Heat And Power Market
29. Combined Heat And Power Market Future Outlook and Potential Analysis
30. Appendix
Top Major Players:
- Panasonic Corp
- Samsung SDI Co Ltd.
- Contemporary Amperex Technology
- BYD Auto Co Ltd
- Clarios
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