The global micro CHP market is anticipated to grow at a considerable CAGR of 15.1% during the forecast period. Growing demand for energy efficiency in the industries is considered as one of the prime factors driving the growth of the market. Micro combine and heat power (CHP) systems require less fuel for producing the energy which is acting as a supporting factor. CHP is also considered the cost-saving method that ensures the effective and efficient generation of power while ensuring the minimum emission of greenhouse gas. Additionally, in the various industry owing to momentum from multiple applications, it also supports higher energy efficiency with operating costs that is low. Moreover, the total efficiency of around 60-80% could be achieved to generate electricity and beneficial thermal energy with the support of micro CHP which is considered an important source of innovation within the industry of heating.
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Further, the key players operating in the global micro CHP market had been adopting strategies such as new launches and agreements to gain major market share. For instance, in June 2019, Ceres Power Holdings plc had done partnership with Miura Co., Ltd., to introduce a new fuel cell system that is a 4.2kW combined heat and power product (CHP) for the commercial building sector.
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- The market number available for – 2021-2028
- Base year- 2021
- Forecast period- 2022-2028
- By Technology
- By Type
- By End-User
- North America
- Rest of the World
Competitive Landscape- AISIN CORP., Centrica plc, General Electric, Honda Motor Co., Ltd, Viessmann Manufacturing Co. Inc., and Vaillant Group, among others.
Key questions addressed by the report
- What is the market growth rate?
- Which segment and region dominate the market in the base year?
- Which segment and region will project the fastest growth in the market?
- How has COVID-19 impacted the market?
oDeviation from the pre-COVID-19 forecast
oMost affected region and segment
- Who is the leader in the market?
- How players are addressing challenges to sustain growth?
- Where is the investment opportunity?
Global Micro CHP Market Report Segment
- Internal Combustion Engine
- Stirling Engine Technology
- Organic Rankine Cycle
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