The global micro CHP market is growing at a CAGR of 15.1% during the forecast period. The major factors that are augmenting the growth of the market are high heat electricity generation capacity. Furthermore, increasing concern related to the environment, rising demand for fuel cell-based systems, government support, and initiative that includes feed-in tariffs (fits) and tax incentives for the generation of renewable energy, is also acting as the major factors that are contributing significantly toward the growth of the market.
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The global micro CHP market is analyzed based on the geographical regions that are contributing significantly to the growth of the market. Based on the geography, the market is divided into North America, Europe, Asia Pacific, and the Rest of the World. North America held a considerable share in 2020 in the global micro CHP market. Some factors that are boosting the market growth in North America include increasing demand for captive generation of energy. Further, growing inclination toward smart renewable infrastructure across the region, supporting government rules and norms along with providing subsidies towards the usage of micro-CHP are some other factors boosting the growth of the market in the region. Whereas in Europe the initiative for promoting the usage of sustainable energy sources is enhancing the growth of the market in the region. For instance, the European Union evolved a cogeneration directive to promote and develop high-efficiency CHP.
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- Market Coverage
- Market number available for – 2024-2031
- Base year- 2024
- Forecast period- 2024-2031
- Segment Covered- By Source, By Product Type, By Applications
- Competitive Landscape- Archer Daniels Midland Co., Ingredion Inc., Kerry Group Plc, Cargill
- , and others
Market Segmentation
Global Micro CHP Market by Technology
- Internal Combustion Engine
- Stirling Engine Technology
- Organic Rankine Cycle
- Others
Global Micro CHP Market by Type
- Engine based
- Fuel cell based
Global Micro CHP Market by End-User
- Residential
- Commercial
Regional Analysis
- North America
- .United States
- Canada
- Europe
- UK
- Germany
- Italy
- Spain
- France
- Rest of Europe
- Asia-Pacific
- China
- India
- Japan
- South Korea
- Rest of Asia-Pacific
- Rest of the World
Company Profiles
- AISIN CORP.
- ATCO LTD.
- Axiom Energy Group, LLC
- BDR Thermea Group
- Ceres Power Holdings plc
- Centrica plc
- Dalkia Aegis
- Enerblu Cogeneration
- Evo Energy Technologies
- General Electric
- Honda Motor Co., Ltd.
- Lochinvar
- Micro Turbine Technology BV (MTT)
- NSC USA Inc.
- Origen Energy Ltd.
- Qnergy
- Solid Power
- Vaillant Group
- Viessmann Manufacturing Co. Inc.
- Veolia
- Yankee Scientific, Inc.
- Yanmar America Corp. LTD.
The Report Covers
- Market value data analysis of 2021 and forecast to 2028.
- Annualized market revenues ($ million) for each market segment.
- Country-wise analysis of major geographical regions.
- Key companies operating in the global micro CHP market. Based on the availability of data, information related to new product launches, and relevant news is also available in the report.
- Analysis of business strategies by identifying the key market segments positioned for strong growth in the future.
- Analysis of market-entry and market expansion strategies.
- Competitive strategies by identifying ‘who-stands-where’ in the market.
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