Press Release, Globe Newswire
WELLESLEY, Mass., Nov. 29, 2017 (GLOBE NEWSWIRE) -- The rising demand for energy conservation, more favorable government policies, improved cost efficiency and technological advancement are all boosting growth in the global markets for commercial combined heat and power. In a new report, Commercial Combined Heat and Power (CHP): Global Markets to 2022, BCC Research estimates the global market will grow from $20.2 billion in 2017 to $26.1 billion in 2022, at a compound annual growth rate (CAGR) of 5.2%.
The comprehensive report quantifies quantitative and qualitative factors, discusses key trends, identifies end-use industries, and examines key drivers and restraints. The analysis also segments the market by end-use sector, fuel type, geographical region, technology type and equipment. Major companies, their product portfolios and recent developments are discussed, as well.
As the global population expands, the demand for energy continues to rise. The CHP system can help meet these demands, especially in highly populated and developing economies such as China and India. In Asia-Pacific, key drivers include the growing demand for natural sources of energy, favorable government policies and rising adoption of CHP technology in major hospitals, schools and industries. In the European region, favorable government policies on energy conservation and green energy are stimulating market growth.
Research Highlights
- Combined heat and power may provide efficiencies of about 60% to 80%, as compared with 40% to 50% for conventional technologies.
- The commercial and district energy end-user sector should grow the fastest, at a 6.6% CAGR.
- The report profiles key companies, including Aegis Energy Services Inc., Alstom, BDR Thermea Group, Clearedge Power, Caterpillar Dantherm Power, Elite Energy Systems LLC, E.ON Group, Ener-G Group, General Electric Energy, Qnergy, Mitsubishi Power Systems Americas Inc., and Siemens Energy.
“As the global demand for energy continues rising, the need to enhance energy sources grows, as well. Thus, there is the urgent need to increase the capacity of an alternative resource or technological development while producing energy. Although nonrenewable sources are available, they should be carefully utilized. The CHP market is expected to grow faster than nonrenewable source markets because it doesn’t harm the environment, and increases the capacity of the resource by utilizing waste energy,” said Mohammed Javed, BCC Research analyst and author of the report.
Editors/reporters requesting analyst interviews should contact steven.cumming@bccresearch.com.
Qualified members of the press can also request permission to access the BCC Research library.
Commercial Combined Heat and Power (CHP): Global Markets to 2022. (EGY141A)
Publish Date: Nov 2017
Data and analysis extracted from this press release must be accompanied by a statement identifying BCC Research LLC, 49 Walnut Park, Building 2, Wellesley, MA 02481, Telephone: 866-285-7215; Email: editorial@bccresearch.com as the source and publisher. Thank you.
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