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Cogeneration Equipment Market Report by Fuel (Natural Gas, Biomass, Coal, and Others), Capacity (Up to 30 MW, 31MW-60 MW, 61 MW-100 MW), Technology (Reciprocating Engine, Steam Turbine, Combined Cycle Gas Turbine, Gas Turbine, and Others), Application (Commercial, Industrial, Residential), and Region 2025-2033
Market Report I 2025-02-10 I 133 Pages I IMARC Group
The global cogeneration equipment market size reached USD 29.9 Billion in 2024. Looking forward, IMARC Group expects the market to reach USD 57.9 Billion by 2033, exhibiting a growth rate (CAGR) of 7.22% during 2025-2033.
Cogeneration or combined heat and power (CHP) equipment is used to simultaneously produce thermal and electrical energy from a single fuel source. These fuel sources can be natural gas, biomass, wood, coal, waste heat and oil. Cogeneration equipment includes gas and steam turbines, electric generators and heat recovery systems that provide power to equipment and machines such as fans, pumps, refrigerators, dehumidifiers and steamers. This equipment works more efficiently and has a smaller carbon footprint than other conventional systems. For instance, in a rice mill that requires mechanical energy for milling and heat for paddy drying, a cogeneration system can use waste products such as rice husk in place of fuel to produce the needed energy output simultaneously, thereby significantly reducing fuel consumption.
The growing energy demand across the globe is the key factor driving the market growth. The frequent occurrence of power outages and increasing power shortages have initiated the development process of systems that are a consistent, uninterrupted and sustainable source of power generation and supply. Furthermore, widespread adoption of micro-CHP systems in industrial, residential and small and medium enterprise (SME) sectors coupled with the decreasing prices of natural gas owing to its abundant availability has positively influenced the demand for this equipment. The market is also receiving a boost due to increasing emphasis by governments of both developed and emerging nations on the production of clean, renewable and efficient energy. Various technological innovations are also catalyzing the market growth. For instance, the introduction of Tri- and Quattro-power generation systems has enabled the simultaneous production of three and more forms of energy, which assists in a better and more effective way of energy conversion.
Key Market Segmentation:
IMARC Group provides an analysis of the key trends in each sub-segment of the global cogeneration equipment market report, along with forecasts at the global and regional level from 2025-2033. Our report has categorized the market based on fuel, capacity, technology and application.
Breakup by Fuel:
- Natural Gas
- Biomass
- Coal
- Others
Breakup by Capacity:
- Up to 30 MW
- 31MW -60 MW
- 61 MW- 100 MW
Breakup by Technology:
- Reciprocating Engine
- Steam Turbine
- Combined Cycle Gas Turbine
- Gas Turbine
- Others
Breakup by Application:
- Commercial
- Industrial
- Residential
Breakup by Region:
- Asia Pacific
- Europe
- North America
- Middle East and Africa
- Latin America
Competitive Landscape:
The report has also analysed the competitive landscape of the market with some of the key players being Kawasaki Heavy Industries, Ltd., Bosch Group, Innovative Steam Technologies Inc., Kohler Co., Mitsubishi Heavy Industries, Ltd., Wood PLC (Foster Wheeler AG), ANDRITZ AG, Siemens Aktiengesellschaft, 2G Energy AG, ABB Group, Aegis Energy, EDF Group, BDR Thermea Group B.V., Baxi Group, Capstone Turbine Corporation, and Rolls-Royce plc. etc.
IMARC Group's latest report provides a deep insight into the global cogeneration equipment market covering all its essential aspects. This ranges from macro overview of the market to micro details of the industry performance, recent trends, key market drivers and challenges, SWOT analysis, Porter's five forces analysis, value chain analysis, etc. This report is a must-read for entrepreneurs, investors, researchers, consultants, business strategists, and all those who have any kind of stake or are planning to foray into the global cogeneration equipment market in any manner.
Key Questions Answered in This Report
1.What was the size of the global cogeneration equipment market in 2024?
2.What is the expected growth rate of the global cogeneration equipment market during 2025-2033?
3.What are the key factors driving the global cogeneration equipment market?
4.What has been the impact of COVID-19 on the global cogeneration equipment market?
5.What is the breakup of the global cogeneration equipment market based on the fuel?
6.What is the breakup of the global cogeneration equipment market based on the capacity?
7.What is the breakup of the global cogeneration equipment market based on the technology?
8.What is the breakup of the global cogeneration equipment market based on the application?
9.What are the key regions in the global cogeneration equipment market?
10.Who are the key players/companies in the global cogeneration equipment market?
1 Preface
2 Scope and Methodology
2.1 Objectives of the Study
2.2 Stakeholders
2.3 Data Sources
2.3.1 Primary Sources
2.3.2 Secondary Sources
2.4 Market Estimation
2.4.1 Bottom-Up Approach
2.4.2 Top-Down Approach
2.5 Forecasting Methodology
3 Executive Summary
4 Introduction
4.1 Overview
4.2 Key Industry Trends
5 Global Cogeneration Equipment Market
5.1 Market Overview
5.2 Market Performance
5.3 Impact of COVID-19
5.4 Market Breakup by Fuel
5.5 Market Breakup by Capacity
5.6 Market Breakup by Technology
5.7 Market Breakup by Application
5.8 Market Breakup by Region
5.9 Market Forecast
6 Market Breakup by Fuel
6.1 Natural Gas
6.1.1 Market Trends
6.1.2 Market Forecast
6.2 Biomass
6.2.1 Market Trends
6.2.2 Market Forecast
6.3 Coal
6.3.1 Market Trends
6.3.2 Market Forecast
6.4 Others
6.4.1 Market Trends
6.4.2 Market Forecast
7 Market Breakup by Capacity
7.1 Up to 30 MW
7.1.1 Market Trends
7.1.2 Market Forecast
7.2 31MW -60 MW
7.2.1 Market Trends
7.2.2 Market Forecast
7.3 61 MW- 100 MW
7.3.1 Market Trends
7.3.2 Market Forecast
8 Market Breakup by Technology
8.1 Reciprocating Engine
8.1.1 Market Trends
8.1.2 Market Forecast
8.2 Steam Turbine
8.2.1 Market Trends
8.2.2 Market Forecast
8.3 Combined Cycle Gas Turbine
8.3.1 Market Trends
8.3.2 Market Forecast
8.4 Gas Turbine
8.4.1 Market Trends
8.4.2 Market Forecast
8.5 Others
8.5.1 Market Trends
8.5.2 Market Forecast
9 Market Breakup by Application
9.1 Commercial
9.1.1 Market Trends
9.1.2 Market Forecast
9.2 Industrial
9.2.1 Market Trends
9.2.2 Market Forecast
9.3 Residential
9.3.1 Market Trends
9.3.2 Market Forecast
10 Market Breakup by Region
10.1 Asia Pacific
10.1.1 Market Trends
10.1.2 Market Forecast
10.2 Europe
10.2.1 Market Trends
10.2.2 Market Forecast
10.3 North America
10.3.1 Market Trends
10.3.2 Market Forecast
10.4 Middle East and Africa
10.4.1 Market Trends
10.4.2 Market Forecast
10.5 Latin America
10.5.1 Market Trends
10.5.2 Market Forecast
11 SWOT Analysis
11.1 Overview
11.2 Strengths
11.3 Weaknesses
11.4 Opportunities
11.5 Threats
12 Value Chain Analysis
13 Porters Five Forces Analysis
13.1 Overview
13.2 Bargaining Power of Buyers
13.3 Bargaining Power of Suppliers
13.4 Degree of Competition
13.5 Threat of New Entrants
13.6 Threat of Substitutes
14 Price Analysis
15 Competitive Landscape
15.1 Market Structure
15.2 Key Players
15.3 Profiles of Key Players
15.3.1 Kawasaki Heavy Industries, Ltd.
15.3.2 Bosch Group
15.3.3 Innovative Steam Technologies Inc.
15.3.4 Kohler Co.
15.3.5 Mitsubishi Heavy Industries, Ltd.
15.3.6 Wood PLC (Foster Wheeler AG)
15.3.7 ANDRITZ AG
15.3.8 Siemens Aktiengesellschaft
15.3.9 2G Energy AG
15.3.10 ABB Group
15.3.11 Aegis Energy
15.3.12 EDF Group
15.3.13 BDR Thermea Group B.V.
15.3.14 Baxi Group
15.3.15 Capstone Turbine Corporation
15.3.16 Rolls-Royce plc.
Figure 1: Global: Cogeneration Equipment Market: Major Drivers and Challenges
Figure 2: Global: Cogeneration Equipment Market: Sales Value (in Billion USD), 2019-2024
Figure 3: Global: Cogeneration Equipment Market: Breakup by Fuel (in %), 2024
Figure 4: Global: Cogeneration Equipment Market: Breakup by Capacity (in %), 2024
Figure 5: Global: Cogeneration Equipment Market: Breakup by Technology (in %), 2024
Figure 6: Global: Cogeneration Equipment Market: Breakup by Application (in %), 2024
Figure 7: Global: Cogeneration Equipment Market: Breakup by Region (in %), 2024
Figure 8: Global: Cogeneration Equipment Market Forecast: Sales Value (in Billion USD), 2025-2033
Figure 9: Global: Cogeneration Equipment Industry: SWOT Analysis
Figure 10: Global: Cogeneration Equipment Industry: Value Chain Analysis
Figure 11: Global: Cogeneration Equipment Industry: Porter's Five Forces Analysis
Figure 12: Global: Cogeneration Equipment (Natural Gas) Market: Sales Value (in Million USD), 2019 & 2024
Figure 13: Global: Cogeneration Equipment (Natural Gas) Market Forecast: Sales Value (in Million USD), 2025-2033
Figure 14: Global: Cogeneration Equipment (Biomass) Market: Sales Value (in Million USD), 2019 & 2024
Figure 15: Global: Cogeneration Equipment (Biomass) Market Forecast: Sales Value (in Million USD), 2025-2033
Figure 16: Global: Cogeneration Equipment (Coal) Market: Sales Value (in Million USD), 2019 & 2024
Figure 17: Global: Cogeneration Equipment (Coal) Market Forecast: Sales Value (in Million USD), 2025-2033
Figure 18: Global: Cogeneration Equipment (Other Fuels) Market: Sales Value (in Million USD), 2019 & 2024
Figure 19: Global: Cogeneration Equipment (Other Fuels) Market Forecast: Sales Value (in Million USD), 2025-2033
Figure 20: Global: Cogeneration Equipment (Up to 30 MW) Market: Sales Value (in Million USD), 2019 & 2024
Figure 21: Global: Cogeneration Equipment (Up to 30 MW) Market Forecast: Sales Value (in Million USD), 2025-2033
Figure 22: Global: Cogeneration Equipment (31MW -60 MW) Market: Sales Value (in Million USD), 2019 & 2024
Figure 23: Global: Cogeneration Equipment (31MW -60 MW) Market Forecast: Sales Value (in Million USD), 2025-2033
Figure 24: Global: Cogeneration Equipment (61 MW- 100 MW) Market: Sales Value (in Million USD), 2019 & 2024
Figure 25: Global: Cogeneration Equipment (61 MW- 100 MW) Market Forecast: Sales Value (in Million USD), 2025-2033
Figure 26: Global: Cogeneration Equipment (Reciprocating Engine) Market: Sales Value (in Million USD), 2019 & 2024
Figure 27: Global: Cogeneration Equipment (Reciprocating Engine) Market Forecast: Sales Value (in Million USD), 2025-2033
Figure 28: Global: Cogeneration Equipment (Steam Turbine) Market: Sales Value (in Million USD), 2019 & 2024
Figure 29: Global: Cogeneration Equipment (Steam Turbine) Market Forecast: Sales Value (in Million USD), 2025-2033
Figure 30: Global: Cogeneration Equipment (Combined Cycle Gas Turbine) Market: Sales Value (in Million USD), 2019 & 2024
Figure 31: Global: Cogeneration Equipment (Combined Cycle Gas Turbine) Market Forecast: Sales Value (in Million USD), 2025-2033
Figure 32: Global: Cogeneration Equipment (Gas Turbine) Market: Sales Value (in Million USD), 2019 & 2024
Figure 33: Global: Cogeneration Equipment (Gas Turbine) Market Forecast: Sales Value (in Million USD), 2025-2033
Figure 34: Global: Cogeneration Equipment (Other Technologies) Market: Sales Value (in Million USD), 2019 & 2024
Figure 35: Global: Cogeneration Equipment (Other Technologies) Market Forecast: Sales Value (in Million USD), 2025-2033
Figure 36: Global: Cogeneration Equipment (Commercial) Market: Sales Value (in Million USD), 2019 & 2024
Figure 37: Global: Cogeneration Equipment (Commercial) Market Forecast: Sales Value (in Million USD), 2025-2033
Figure 38: Global: Cogeneration Equipment (Industrial) Market: Sales Value (in Million USD), 2019 & 2024
Figure 39: Global: Cogeneration Equipment (Industrial) Market Forecast: Sales Value (in Million USD), 2025-2033
Figure 40: Global: Cogeneration Equipment (Residential) Market: Sales Value (in Million USD), 2019 & 2024
Figure 41: Global: Cogeneration Equipment (Residential) Market Forecast: Sales Value (in Million USD), 2025-2033
Figure 42: Asia Pacific: Cogeneration Equipment Market: Sales Value (in Million USD), 2019 & 2024
Figure 43: Asia Pacific: Cogeneration Equipment Market Forecast: Sales Value (in Million USD), 2025-2033
Figure 44: Europe: Cogeneration Equipment Market: Sales Value (in Million USD), 2019 & 2024
Figure 45: Europe: Cogeneration Equipment Market Forecast: Sales Value (in Million USD), 2025-2033
Figure 46: North America: Cogeneration Equipment Market: Sales Value (in Million USD), 2019 & 2024
Figure 47: North America: Cogeneration Equipment Market Forecast: Sales Value (in Million USD), 2025-2033
Figure 48: Middle East and Africa: Cogeneration Equipment Market: Sales Value (in Million USD), 2019 & 2024
Figure 49: Middle East and Africa: Cogeneration Equipment Market Forecast: Sales Value (in Million USD), 2025-2033
Figure 50: Latin America: Cogeneration Equipment Market: Sales Value (in Million USD), 2019 & 2024
Figure 51: Latin America: Cogeneration Equipment Market Forecast: Sales Value (in Million USD), 2025-2033
Table 1: Global: Cogeneration Equipment Market: Key Industry Highlights, 2024 and 2033
Table 2: Global: Cogeneration Equipment Market Forecast: Breakup by Fuel (in Million USD), 2025-2033
Table 3: Global: Cogeneration Equipment Market Forecast: Breakup by Capacity (in Million USD), 2025-2033
Table 4: Global: Cogeneration Equipment Market Forecast: Breakup by Technology (in Million USD), 2025-2033
Table 5: Global: Cogeneration Equipment Market Forecast: Breakup by Application (in Million USD), 2025-2033
Table 6: Global: Cogeneration Equipment Market Forecast: Breakup by Region (in Million USD), 2025-2033
Table 7: Global: Cogeneration Equipment Market Structure
Table 8: Global: Cogeneration Equipment Market: Key Players
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