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Global Cogeneration Equipment Market Report and Forecast 2023-2028
Market Report I 2023-10-05 I 174 Pages I EMR Inc.
Global Cogeneration Equipment Market Report and Forecast 2023-2028
Market Outlook
According to the report by Expert Market Research (EMR), the global cogeneration equipment market is projected to grow at a CAGR of 6% between 2023 and 2028 to reach a value of USD 41.6 billion by 2028. Aided by the increasing focus on sustainable energy solutions and the growing need for energy efficiency in industries and residential settings, the market is expected to grow significantly by 2028.
Cogeneration, also known as Combined Heat and Power (CHP), is an energy-efficient technology that simultaneously produces electricity and useful thermal energy from a single energy source, typically natural gas, biomass, or coal. It is a flexible technology that can serve a range of sizes and applications, including residential, commercial, and industrial.
As climate goals become increasingly ambitious, nations are adopting cogeneration as a key strategy to reduce greenhouse gas emissions and optimise energy use. This factor is bolstering the cogeneration equipment market growth. CHP systems can operate at efficiencies of 80% or higher, compared to the roughly 50% efficiency of traditional separate heat and power generation, making cogeneration an attractive option for businesses and policymakers alike.
The move toward decentralised energy systems and self-sufficiency is also boosting the adoption of cogeneration equipment. Such systems are resilient, and they reduce dependency on central power stations, which is crucial during peak demand periods and emergencies.
Technological advancements, such as the integration of IoT devices for intelligent control of cogeneration systems and the development of smaller, modular units, are making CHP systems more accessible and manageable. These advancements are expected to drive future market growth.
While Europe and North America account for a significant portion of the cogeneration equipment market share, owing to early adoption and stringent energy efficiency goals, Asia Pacific is emerging as a significant market. Fast-growing economies, increasing urbanisation, and strong industrial sectors in countries like China and India are key factors contributing to this growth.
Meanwhile, the emerging markets, particularly in Asia and Africa, present significant opportunities for the cogeneration equipment market expansion. Rapid industrialisation, urbanisation, and increasing energy demand in these regions are creating a need for efficient and reliable power solutions.
Market Segmentation
The market can be divided based on fuel, capacity, technology, application, and region.
Market Breakup by Fuel
- Natural Gas
- Biomass
- Coal
- Others
Market Breakup by Capacity
- Up to 30 MW
- 31 MW-60 MW
- 61 MW-100 MW
Market Breakup by Technology
- Reciprocating Engine
- Steam Turbine
- Combined Cycle Gas Turbine
- Gas Turbine
- Others
Market Breakup by Application
- Commercial
- Industrial
- Residential
Market Breakup by Region
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East and Africa
Competitive Landscape
The EMR report looks into the market shares, plant turnarounds, capacities, investments, and mergers and acquisitions, among other major developments, of the leading companies operating in the global cogeneration equipment market. Some of the major players explored in the report by Expert Market Research are as follows:
- Kawasaki Heavy Industries Ltd.
- Bosch Terotechnology Limited
- Clarke Energy
- Mitsubishi Heavy Industries Ltd.
- Andritz Energy & Environment Gmbh
- Siemens AG
- Others
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*We at Expert Market Research always strive to provide you with the latest information. The numbers in the article are only indicative and may be different from the actual report.
1 Preface
2 Report Coverage - Key Segmentation and Scope
3 Report Description
3.1 Market Definition and Outlook
3.2 Properties and Applications
3.3 Market Analysis
3.4 Key Players
4 Key Assumptions
5 Executive Summary
5.1 Overview
5.2 Key Drivers
5.3 Key Developments
5.4 Competitive Structure
5.5 Key Industrial Trends
6 Snapshot
6.1 Global
6.2 Regional
7 Opportunities and Challenges in the Market
8 Global Cogeneration Equipment Market Analysis
8.1 Key Industry Highlights
8.2 Global Cogeneration Equipment Historical Market (2018-2022)
8.3 Global Cogeneration Equipment Market Forecast (2023-2028)
8.4 Global Cogeneration Equipment Market by Fuel
8.4.1 Natural Gas
8.4.1.1 Market Share
8.4.1.2 Historical Trend (2018-2022)
8.4.1.3 Forecast Trend (2023-2028)
8.4.2 Biomass
8.4.2.1 Market Share
8.4.2.2 Historical Trend (2018-2022)
8.4.2.3 Forecast Trend (2023-2028)
8.4.3 Coal
8.4.3.1 Market Share
8.4.3.2 Historical Trend (2018-2022)
8.4.3.3 Forecast Trend (2023-2028)
8.4.4 Others
8.5 Global Cogeneration Equipment Market by Capacity
8.5.1 Up to 30 MW
8.5.1.1 Market Share
8.5.1.2 Historical Trend (2018-2022)
8.5.1.3 Forecast Trend (2023-2028)
8.5.2 31 MW-60 MW
8.5.2.1 Market Share
8.5.2.2 Historical Trend (2018-2022)
8.5.2.3 Forecast Trend (2023-2028)
8.5.3 61 MW-100 MW
8.5.3.1 Market Share
8.5.3.2 Historical Trend (2018-2022)
8.5.3.3 Forecast Trend (2023-2028)
8.6 Global Cogeneration Equipment Market by Technology
8.6.1 Reciprocating Engine
8.6.1.1 Market Share
8.6.1.2 Historical Trend (2018-2022)
8.6.1.3 Forecast Trend (2023-2028)
8.6.2 Steam Turbine
8.6.2.1 Market Share
8.6.2.2 Historical Trend (2018-2022)
8.6.2.3 Forecast Trend (2023-2028)
8.6.3 Combined Cycle Gas Turbine
8.6.3.1 Market Share
8.6.3.2 Historical Trend (2018-2022)
8.6.3.3 Forecast Trend (2023-2028)
8.6.4 Gas Turbine
8.6.4.1 Market Share
8.6.4.2 Historical Trend (2018-2022)
8.6.4.3 Forecast Trend (2023-2028)
8.6.5 Others
8.7 Global Cogeneration Equipment Market by Application
8.7.1 Commercial
8.7.1.1 Market Share
8.7.1.2 Historical Trend (2018-2022)
8.7.1.3 Forecast Trend (2023-2028)
8.7.2 Industrial
8.7.2.1 Market Share
8.7.2.2 Historical Trend (2018-2022)
8.7.2.3 Forecast Trend (2023-2028)
8.7.3 Residential
8.7.3.1 Market Share
8.7.3.2 Historical Trend (2018-2022)
8.7.3.3 Forecast Trend (2023-2028)
8.8 Global Cogeneration Equipment Market by Region
8.8.1 North America
8.8.1.1 Market Share
8.8.1.2 Historical Trend (2018-2022)
8.8.1.3 Forecast Trend (2023-2028)
8.8.2 Europe
8.8.2.1 Market Share
8.8.2.2 Historical Trend (2018-2022)
8.8.2.3 Forecast Trend (2023-2028)
8.8.3 Asia Pacific
8.8.3.1 Market Share
8.8.3.2 Historical Trend (2018-2022)
8.8.3.3 Forecast Trend (2023-2028)
8.8.4 Latin America
8.8.4.1 Market Share
8.8.4.2 Historical Trend (2018-2022)
8.8.4.3 Forecast Trend (2023-2028)
8.8.5 Middle East and Africa
8.8.5.1 Market Share
8.8.5.2 Historical Trend (2018-2022)
8.8.5.3 Forecast Trend (2023-2028)
9 North America Cogeneration Equipment Market Analysis
9.1 United States of America
9.1.1 Market Share
9.1.2 Historical Trend (2018-2022)
9.1.3 Forecast Trend (2023-2028)
9.2 Canada
9.2.1 Market Share
9.2.2 Historical Trend (2018-2022)
9.2.3 Forecast Trend (2023-2028)
10 Europe Cogeneration Equipment Market Analysis
10.1 United Kingdom
10.1.1 Market Share
10.1.2 Historical Trend (2018-2022)
10.1.3 Forecast Trend (2023-2028)
10.2 Germany
10.2.1 Market Share
10.2.2 Historical Trend (2018-2022)
10.2.3 Forecast Trend (2023-2028)
10.3 France
10.3.1 Market Share
10.3.2 Historical Trend (2018-2022)
10.3.3 Forecast Trend (2023-2028)
10.4 Italy
10.4.1 Market Share
10.4.2 Historical Trend (2018-2022)
10.4.3 Forecast Trend (2023-2028)
10.5 Others
11 Asia Pacific Cogeneration Equipment Market Analysis
11.1 China
11.1.1 Market Share
11.1.2 Historical Trend (2018-2022)
11.1.3 Forecast Trend (2023-2028)
11.2 Japan
11.2.1 Market Share
11.2.2 Historical Trend (2018-2022)
11.2.3 Forecast Trend (2023-2028)
11.3 India
11.3.1 Market Share
11.3.2 Historical Trend (2018-2022)
11.3.3 Forecast Trend (2023-2028)
11.4 ASEAN
11.4.1 Market Share
11.4.2 Historical Trend (2018-2022)
11.4.3 Forecast Trend (2023-2028)
11.5 Australia
11.5.1 Market Share
11.5.2 Historical Trend (2018-2022)
11.5.3 Forecast Trend (2023-2028)
11.6 Others
12 Latin America Cogeneration Equipment Market Analysis
12.1 Brazil
12.1.1 Market Share
12.1.2 Historical Trend (2018-2022)
12.1.3 Forecast Trend (2023-2028)
12.2 Argentina
12.2.1 Market Share
12.2.2 Historical Trend (2018-2022)
12.2.3 Forecast Trend (2023-2028)
12.3 Mexico
12.3.1 Market Share
12.3.2 Historical Trend (2018-2022)
12.3.3 Forecast Trend (2023-2028)
12.4 Others
13 Middle East and Africa Cogeneration Equipment Market Analysis
13.1 Saudi Arabia
13.1.1 Market Share
13.1.2 Historical Trend (2018-2022)
13.1.3 Forecast Trend (2023-2028)
13.2 United Arab Emirates
13.2.1 Market Share
13.2.2 Historical Trend (2018-2022)
13.2.3 Forecast Trend (2023-2028)
13.3 Nigeria
13.3.1 Market Share
13.3.2 Historical Trend (2018-2022)
13.3.3 Forecast Trend (2023-2028)
13.4 South Africa
13.4.1 Market Share
13.4.2 Historical Trend (2018-2022)
13.4.3 Forecast Trend (2023-2028)
13.5 Others
14 Market Dynamics
14.1 SWOT Analysis
14.1.1 Strengths
14.1.2 Weaknesses
14.1.3 Opportunities
14.1.4 Threats
14.2 Porter's Five Forces Analysis
14.2.1 Supplier's Power
14.2.2 Buyer's Power
14.2.3 Threat of New Entrants
14.2.4 Degree of Rivalry
14.2.5 Threat of Substitutes
14.3 Key Indicators for Demand
14.4 Key Indicators for Price
15 Competitive Landscape
15.1 Market Structure
15.2 Company Profiles
15.2.1 Kawasaki Heavy Industries Ltd.
15.2.1.1 Company Overview
15.2.1.2 Product Portfolio
15.2.1.3 Demographic Reach and Achievements
15.2.1.4 Certifications
15.2.2 Bosch Terotechnology Limited
15.2.2.1 Company Overview
15.2.2.2 Product Portfolio
15.2.2.3 Demographic Reach and Achievements
15.2.2.4 Certifications
15.2.3 Clarke Energy
15.2.3.1 Company Overview
15.2.3.2 Product Portfolio
15.2.3.3 Demographic Reach and Achievements
15.2.3.4 Certifications
15.2.4 Mitsubishi Heavy Industries Ltd.
15.2.4.1 Company Overview
15.2.4.2 Product Portfolio
15.2.4.3 Demographic Reach and Achievements
15.2.4.4 Certifications
15.2.5 Andritz Energy & Environment Gmbh
15.2.5.1 Company Overview
15.2.5.2 Product Portfolio
15.2.5.3 Demographic Reach and Achievements
15.2.5.4 Certifications
15.2.6 Siemens AG
15.2.6.1 Company Overview
15.2.6.2 Product Portfolio
15.2.6.3 Demographic Reach and Achievements
15.2.6.4 Certifications
15.2.7 Others
16 Key Trends and Developments in the Market
List of Key Figures and Tables
1. Global Cogeneration Equipment Market: Key Industry Highlights, 2018 and 2032
2. Global Cogeneration Equipment Historical Market: Breakup by Fuel (USD Million), 2018-2022
3. Global Cogeneration Equipment Market Forecast: Breakup by Fuel (USD Million), 2023-2028
4. Global Cogeneration Equipment Historical Market: Breakup by Capacity (USD Million), 2018-2022
5. Global Cogeneration Equipment Market Forecast: Breakup by Capacity (USD Million), 2023-2028
6. Global Cogeneration Equipment Historical Market: Breakup by Technology (USD Million), 2018-2022
7. Global Cogeneration Equipment Market Forecast: Breakup by Technology (USD Million), 2023-2028
8. Global Cogeneration Equipment Historical Market: Breakup by Application (USD Million), 2018-2022
9. Global Cogeneration Equipment Market Forecast: Breakup by Application (USD Million), 2023-2028
10. Global Cogeneration Equipment Historical Market: Breakup by Region (USD Million), 2018-2022
11. Global Cogeneration Equipment Market Forecast: Breakup by Region (USD Million), 2023-2028
12. North America Cogeneration Equipment Historical Market: Breakup by Country (USD Million), 2018-2022
13. North America Cogeneration Equipment Market Forecast: Breakup by Country (USD Million), 2023-2028
14. Europe Cogeneration Equipment Historical Market: Breakup by Country (USD Million), 2018-2022
15. Europe Cogeneration Equipment Market Forecast: Breakup by Country (USD Million), 2023-2028
16. Asia Pacific Cogeneration Equipment Historical Market: Breakup by Country (USD Million), 2018-2022
17. Asia Pacific Cogeneration Equipment Market Forecast: Breakup by Country (USD Million), 2023-2028
18. Latin America Cogeneration Equipment Historical Market: Breakup by Country (USD Million), 2018-2022
19. Latin America Cogeneration Equipment Market Forecast: Breakup by Country (USD Million), 2023-2028
20. Middle East and Africa Cogeneration Equipment Historical Market: Breakup by Country (USD Million), 2018-2022
21. Middle East and Africa Cogeneration Equipment Market Forecast: Breakup by Country (USD Million), 2023-2028
22. Global Cogeneration Equipment Market Structure
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