The method of generating heat and electricity simultaneously is referred to Combined Heat and Power generation. This is done through burning various fuels such as oil, natural gases and bio fuels. The analysis in this report provides current and future trends of the CHP market. The goal of this report is to determine the advantages of using CHP method. The market trends of combined heat and power generation market have been attractive over the past few years and investments in this market can prove very fruitful.
The benefits of cogeneration methods over the conventional methods are the cost reductions in the manufacturing processes by reducing the redundant energy consumption. Energy can be saved by utilizing the waste resources; therefore, cost-cutting acts as a driving force for this market. Rising energy prices and stringent regulations act as limiting forces for the combined heat power generation market.
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Combined Heat Power Market Analysis By Technology
On the basis of technology, the combined heat power market is segmented into gas turbine, micro turbine, spark ignition reciprocating engine, steam turbine and fuel cells. There is a great potential in the market of micro CHP units due to their easy operating features, which provides numerous benefits in residential and commercial areas.
Combined Heat Power Generation Market By Product
On the basis of products, the global combined heat power generation market is segmented into large scale and micro & small scale. The large scale CHP’s are adopted by industries and medium & small CHP units are adopted by residential and commercial sectors.
Combined Heat Power Market Analysis By Fuel
Global CHP market is segmented mainly into natural gas, coal, biomass and others. Others include wood, oil, waste products. Natural gas and coal are mostly used due to their cheaper rates as compared to other fuels.
Top players in this market are Acumentrics Corporation, Ceramic Fuel Cells Limited, Ceres power holding PLC, Climate energy LLC, Cogen Microsystems, ENE Farm, Hexis Ltd, Honda Motor Co. ltd. and Whisper tech. Top strategy adopted by the companies in this market is new product launch.
Honda Motor Corporation. Ltd. and Vaillant have launched new micro combines heat power systems, which can be used in residential sector. One of the most attractive features of this CHP is that the system is environmentally friendly.
High Level Analysis
Porter’s five forces model and SWOT analysis provides a complete overview of the global combined heat power generation market. The bargaining power of the buyer is high due to the undifferentiated products. The products of manufacturers are more or less the same. The threat of substitute is high due to the presence of various other heat and power generation methods such as boilers and other systems. Due to high initial investment needed, the threat of new entrants is minimum, and also the presence of major and dominating players restrict new entry in this industry. The rivalry in the industry is the high due to numerous competitors.
The global heat power market can be segmented into technology, application and geography.
MARKET BY TECHNOLOGY
MARKET BY PRODUCT
MARKET BY FUEL
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