"Actionable Insights to Fuel Your Growth"
Cogeneration plays an important role in controlling industrial and commercial energy cost through effective integration of power generation option into a planned energy supply system. As a more and more industrial and commercial establishment, developers, and utilities search for low-cost electrical energy and process heat, cogeneration not only use exhaust heat for heating water or space heating but also offers environmental benefits.
The high consumption of conventional energy sources such as coal, hydrocarbon cause rise in GHG emission that intensify the need for the energy-efficient system to mitigate environmental degradation. Thus, cogeneration is important to optimize the performance of a power plant. Enormous industrial development and expansion of existing facilities lead to high process heat demand for continuous operation provide ideal opportunities for cogeneration. The significant changes in fuel cost, replacement of aging steam generation plant, and power sales opportunities are anticipating the growth of the cogeneration equipment market.
The cogeneration equipment market is classified into fuel, technology, capacity, and application. Cogeneration equipment can use a number of fuel source such as coal, biomass, renewables, etc. The CHP plant which operated on biomass and renewables are widely adopted by European countries. The steam turbine produces a high grade of steam that utilized in industrial plants whereas the reciprocating engine is well suited to fulfill many decentralized energy supply needs. Gas turbine and combined cycle gas turbine are most utilized in both large scale or centralized application, as well as decentralized CHP, need.
To gain extensive insights into the market, Request for Customization
Every major power companies are adopting energy-efficient technology to reduce the production cost of the power and by the implementation of cogeneration both electricity and heat can be produced which expected to anticipate the growth of the cogeneration equipment market growth. Development of industrial facilities and expansion of commercial and educational institutions such as universities, hospitals, and shopping mall that requires power, heat or cooling that drives the global cogeneration equipment market.
The technologies used to recover exhaust heat for enhancing production capacity is quite expensive that increase the installation cost of the system which restrains the growth of the cogeneration equipment. CHP system is suitable only where there is a consistent requirement of heating or hot water and the system is not sustainable unless used with renewable fuel which is obstructing the growth of the cogeneration equipment.
The leading cogeneration equipment manufacturers are Rolls Royce Plc., Kawasaki Heavy Industries Ltd., Mitsubishi Heavy Industries Ltd., Andritz, Siemens, Mitsubishi Hitachi Power Systems, Clarke Energy, Aegis Energy, EDF Group, 2G-Energy, BDR Thermea Group, Capstone Turbine Corporation, and ABB Ltd.
· Natural Gas
· Steam Turbine
· Gas Turbine
· Reciprocating Engine
· Combined Cycle Gas Turbine
· Up to 30MW
· 31MW to 50MW
· Above 50MW
· North America (the USA and Canada)
· Europe (UK, Germany, France, Italy, Spain, Russia and Rest of Europe)
· Asia Pacific (Japan, China, India, Australia, Southeast Asia and Rest of Asia Pacific)
· Latin America (Brazil, Mexico and Rest of Latin America)
· Middle East & Africa (South Africa, GCC and Rest of the Middle East & Africa)
The global cogeneration equipment market is segmented into North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa. The extreme weather condition increased the demand for space heating and the development of micro CHP that leverage the demand for cogeneration equipment. Massive demand for power and electricity owing technological growth and expansion of commercial spaces boost the demand for HVAC that augment the growth of the cogeneration equipment market in North America. Europe is strictly implementing environment protection policies and adopting energy-saving techniques to increase the efficiency of the power plant that drives the cogeneration equipment market growth. The Asia Pacific possesses the massive potential growth owing to extensive population growth and high consumption of energy. Rapid urbanization and industrial growth not only sharpened the demand for electricity but also generating a negative impact on the environment. To mitigate the rising environmental degradation, government and private entities are investing in green energy that uplifts the growth of cogeneration equipment market.
“We are happy with the professionalism of your in-house research team as well as the quality of your research reports. Looking forward to work together on similar projects”- One of the Leading Food Companies in Germany
“We appreciate the teamwork and efficiency for such an exhaustive and comprehensive report. The data offered to us was exactly what we were looking for. Thank you!”- Intuitive Surgical
“I recommend Fortune Business Insights for their honesty and flexibility. Not only that they were very responsive and dealt with all my questions very quickly but they also responded honestly and flexibly to the detailed requests from us in preparing the research report. We value them as a research company worthy of building long-term relationships.”- Major Food Company in Japan
“Well done Fortune Business Insights! The report covered all the points and was very detailed. Looking forward to work together in the future”- Ziering Medical
“It has been a delightful experience working with you guys. Thank you Fortune Business Insights for your efforts and prompt response”- Major Manufacturer of Precision Machine Parts in India
“I had a great experience working with Fortune Business Insights. The report was very accurate and as per my requirements. Very satisfied with the overall report as it has helped me to build strategies for my business”- Hewlett-Packard
“This is regarding the recent report I bought from Fortune Business insights. Remarkable job and great efforts by your research team. I would also like to thank the back end team for offering a continuous support and stitching together a report that is so comprehensive and exhaustive”- Global Management Consulting Firm
“Please pass on our sincere thanks to the whole team at Fortune Business Insights. This is a very good piece of work and will be very helpful to us going forward. We know where we will be getting business intelligence from in the future.”- UK-based Start-up in the Medical Devices Sector
“Thank you for sending the market report and data. It looks quite comprehensive and the data is exactly what I was looking for. I appreciate the timeliness and responsiveness of you and your team.”- One of the Largest Companies in the Defence Industry