The number of combined heat and power plant installations worldwide is anticipated to increase due to several factors, including the favorable outlook for natural gas supply and the price increased energy efficiency end to environmental regulatory pressures on power plants and industrial boilers, amongst others. In addition, on-grid combined heat and power systems operate completely automatically, generate electricity when necessary, and interface with the grid to supply the host site with both thermal energy and electricity. Stringent emission norm is driving the growth of driving the on-grid combined heat and power market growth.
MARKET SCOPE
The "Global On-Grid Combined Heat and Power Market Analysis to 2028" is a specialized and in-depth study with a special focus on the global market trend analysis. The report aims to provide an overview of the on-grid combined heat and power market with detailed market segmentation by end user, fuel type, and geography. The report provides key statistics on the market status of the leading on-grid combined heat and power market players and offers key trends and opportunities in the market.
MARKET SEGMENTATION
- Based on end user, the market is segmented into residential, commercial, geography industrial.
- Based on fuel type, the market is segmented into natural gas, coal, oil, biomass, geography others.
MARKET DYNAMICS
Drivers:
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- Increasing industrialization is driving the on-grid combined heat and power market growth.
- Increasing clean energy demand is also boosting the growth of the on-grid combined heat and power market.
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- The lack of grid infrastructure may hinder the growth of the on-grid combined heat and power market.
The report provides a detailed overview of the industry including both qualitative and quantitative information. It provides an overview and forecast of the global market based on various segments. It also provides market size and forecast estimates from the year 2019 to 2028 concerning five major regions, namely; North America, Europe, Asia-Pacific (APAC), the Middle East and Africa (MEA), and South America. The on-grid combined heat and power market by each region is later sub-segmented by respective countries and segments. The report covers the analysis and forecast of 18 countries globally along with the current trend and opportunities prevailing in the region.
The report analyzes factors affecting the market from both the demand and supply side and further evaluates market dynamics affecting the market during the forecast period i.e., drivers, restraints, opportunities, and future trends. 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 factors affecting the on-grid combined heat and power market in these regions.
IMPACT OF COVID-19 ON ON-GRID COMBINED HEAT AND POWER MARKET
COVID-19 has severely affected the growth of the on-grid combined heat and power market. The expansions in the renewable energy sector which the government planned have also got shut-down due to COVID-19. Additionally, companies had to shut down their manufacturing plants and services as lockdowns were imposed to contain the pandemic. This resulted in increased costs of raw materials due to the shortage of supplies. Thus, the pandemic has negatively impacted the on-grid combined heat and power market.
MARKET PLAYERS
The report covers key developments in the on-grid combined heat and power 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 the way for the expansion of the business and customer base of market players. The market players from the on-grid combined heat and power market are anticipated to have lucrative growth opportunities in the future with the rising demand in the global market.
The report also includes the profiles of key companies along with their SWOT analysis and market strategies in the on-grid combined heat and power market. In addition, the report focuses on leading industry players with information such as company profiles, components, and services offered, financial information of the last 3 years, the key development in the past five years.
- ABB
- Bosch Thermotechnik GmbH
- Caterpillar Inc.
- Centrica PLC
- FuelCell Energy Inc.
- General Electric Company
- Kawasaki Heavy Industries Ltd
- MAN Diesel & Turbo SE
- Mitsubishi Electric Corporation
- Seimens AG