Cogeneration or combined heat and power systems are used to instantaneously produce both electricity and heat energy from a single fuel source like natural gas, biomass, wood, coal, waste heat, or oil. Globally rising electricity demand coupled with rising applications in renewable energy is anticipated to drive the cogeneration equipment market globally during the forecast period. An increase in energy prices is likely to remain a major driving factor for cogeneration equipment market growth. Additionally, government initiatives for energy conservation and the need to address climatic changes have led to the acceptance of cogeneration, thus benefitting the cogeneration equipment market.
MARKET DYNAMICS
Rise in renewable energy projects over the coming years in developing regions is likely to drive the cogeneration equipment market during the forecast period. Decreasing price, plentiful availability of natural gas, and aging infrastructure are likely to drive the cogeneration equipment market in the near future. Rising application scope of cogeneration systems in end-use industries like paper, food, chemical, oil and refining industry owing to growing electricity demand is likely to increase the cogeneration equipment market demand over the forecast period. High initial investment requirements along with trouble in proper utility connection, are some of the major restraints for this cogeneration equipment market. Cost and space restraints in major regions along with stringent environmental regulations are anticipated to drive demand of the cogeneration equipment market over the coming years.
MARKET SCOPE
The "Global Cogeneration Equipment Market Analysis to 2028" is a specialized and in-depth study of cogeneration equipment with a special focus on the global market trend analysis. The report aims to provide an overview of cogeneration equipment with detailed market segmentation by type, capacity, fuel, and application. The global cogeneration equipment market is expected to witness high growth during the forecast period. The report provides key statistics on the cogeneration equipment market and offers key trends and opportunities in the equipment market.
MARKET SEGMENTATION
The cogeneration equipment market is segmented on the basis of type, capacity, fuel, and application. On the basis of type, market is segmented as steam turbine, gas turbine, combined cycle gas turbine, reciprocating engine. On the basis of capacity, market is segmented up to 30 MW, 31-60 MW, and 61-100 MW. On the basis of fuel, market is segmented as biomass, coal, and natural gas. On the basis of application, market is segmented as industrial, residential, and commercial.
REGIONAL FRAMEWORK
The report provides a detailed overview of the industry including both qualitative and quantitative information. It provides overview and forecast of the global cogeneration equipment market based on various segments. It also provides market size and forecast estimates from year 2020 to 2028 with respect to five major regions, namely; North America, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA) and South America. The global cogeneration equipment market by each region is later sub-segmented by respective countries and segments.
The report analyzes factors affecting Cogeneration Equipment market from both demand and supply side and further evaluates market dynamics effecting the market during the forecast period i.e., drivers, restraints, opportunities, and future trend. The report also provides exhaustive PEST analysis for all five regions namely; North America, Europe, APAC, MEA and South America after evaluating political, economic, social and technological effecting the cogeneration equipment market in these regions.
MARKET PLAYERS
The reports cover key developments in the cogeneration equipment market as organic and inorganic growth strategies. Various companies are focusing on organic growth strategies such as product launches, product approvals and others such as patents and events. Inorganic growth strategies activities witnessed in the market were acquisitions, and partnership & collaborations. These activities have paved way for expansion of business and customer base of market players. The market players from cogeneration equipment market are anticipated to lucrative growth opportunities in the future with the rising demand for cogeneration equipment in the global market. Below mentioned is the list of few companies engaged in the cogeneration equipment market.
The report also includes the profiles of cogeneration equipment market companies along with their SWOT analysis and market strategies. In addition, the report focuses on leading industry players with information such as company profiles, components and services offered, financial information of last 3 years, key development in past five years.
- Allied Equipments Inc
- Alstorm Power
- American DG Energy Inc
- Baxi Group
- Caterpillar Inc
- GE Energy
- Mitsubishi Heavy Industries Ltd
- Rolls Royce PLC
- Siemens AG
- Turner Crane
The Insight Partner's dedicated research and analysis team consist of experienced professionals with advanced statistical expertise and offer various customization options in the existing study.