Growing energy requirements and rapid urbanization and industrialization are expected to drive the demand for the UAE cogeneration equipment market over the forecast period, 2023-2027.
According to TechSci Research report, “UAE Cogeneration Equipment Market By Fuel Type (Natural Gas, Biogas, Coal, Diesel and Others), By Capacity (Up to 30MW, 31MW to 50MW, Above 50MW), By Technology (Steam Turbine, Gas Turbine, Combined Cycle Gas Turbine and Reciprocating Engine), By Application (Commercial, Industrial and Residential), By Region, Competition Forecast & Opportunities, 2027”, the UAE cogeneration equipment market is expected to witness robust growth in the forecast period, 2023-2027. Cogeneration is also known as combined heat and power and utilizes energy in two different forms simultaneously and combines thermal energy and mechanical energy in a cost-effective and environment-friendly way. The equipment used in the cogeneration system, including compressor, motor, pump, air compressor, gas turbine, the combustion chamber, is known as cogeneration equipment. The growth of the market is attributed to the factors such as increasing electricity demand and the growing applications of renewable energy. Also, the applications of cogeneration equipment in several end-user industries such as paper, oil and refining, cement, paper, and food industries support the UAE cogeneration equipment market growth in the coming years.
However, the high initial cost and regulatory framework may restrain the UAE cogeneration equipment market growth in the forecast period.
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The UAE cogeneration equipment market is segmented into fuel type, capacity, technology, application, regional distribution, and competitive landscape.
Based on fuel type, the market is divided into natural gas, biogas, coal, diesel, and others. The natural gas segment dominates the market and is expected to maintain its dominance over the forecast period, 2023-2027. They are eco-friendly fuels and provide effective mileage. Using natural gas is highly convenient as it can be fed into the system, which eliminates the hassle of refilling and does not require any space to store. Natural gas is easily transportable by constructing proper structures and is able to consistent and reliable supply to the desired location.
Based on capacity, the market is divided into up to 30MW, 31MW to 50MW, and above 50MW. Above 50MW is expected to capture the highest market share over the next five years due to its heavy usage in the pulp and paper mills, cement industry, and other end-user industries.
Based on technology, the market is divided into the steam turbine, gas turbine, combined cycle gas turbine, and reciprocating engine. The steam turbine is expected to hold the largest market share over the forecast period owing to the increase in the use of steam engines in power generation industries.
Based on application, the market is divided into commercial, industrial, and residential. The industrial segment is expected to account for a substantial market share in the upcoming years. The segment growth is attributed to a rise in demand for power generation across various end-user industries, including cement, paper and pulp, and power plants, among others. Cogeneration equipment plays a vital role in controlling industrial energy costs through the effective integration of power generation into planned energy supply systems. A large number of industries utilize the cogeneration system for low-cost electrical energy and process heat and also offer environmental benefits.
Major market players operating in the UAE cogeneration equipment market are:
- Tecogen, Inc.
- Siemens
- General Electric
- Kawasaki heavy industries Ltd
- Robert BOSCH Gmbh
- Clarke Energy
- Mitsubishi heavy industries Ltd
- A.B. HOLDING S.P.A.
- 2G Energy AG
- Sundrop Fuels Inc.
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“UAE is among the world’s ten largest oil producers, and the government is undertaking several efforts to achieve a green economy. The government is taking steps to boost the economic growth of the country and is supporting the adoption of energy-efficient systems in the industrial, commercial, and residential sectors. Cogeneration equipment is beneficial as it is highly reliable and energy-efficient and contributes relatively less to power pollution than traditional devices. Also, the growing demand from the decentralized power plants and the shift toward sustainable power sources are expected to propel the UAE cogeneration equipment market growth till 2027” said Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm.
“UAE Cogeneration Equipment Market By Fuel Type (Natural Gas, Biogas, Coal, Diesel and Others), By Capacity (Up to 30MW, 31MW to 50MW, Above 50MW), By Technology (Steam Turbine, Gas Turbine, Combined Cycle Gas Turbine and Reciprocating Engine), By Application (Commercial, Industrial and Residential), By Region, Competition Forecast & Opportunities, 2027”, has evaluated the future growth potential of UAE cogeneration equipment market and provides statistics & information on market size, structure and future market growth. The report intends to provide cutting-edge market intelligence and help decision makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges, and opportunities in UAE cogeneration equipment market.
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