Global Micro Combined Heat and Power Market To Record Protruding Growth With US$ 9,008.1 Million By 2030

April 2023 | Report Format: Electronic (PDF)

Micro combined heat and power (MCHP) system, also known as microgeneration, generates electricity and thermal energy simultaneously from a single fuel source for individual houses, residential buildings, and some commercial offices. Such a system is installed to reduce carbon emissions and fuel costs. MCHP generally operates in applications having up to 50 kW of power capacity. MCHP systems are located at or near the end-use site. MCHP systems have applications in residential and commercial sectors.

The global micro combined heat and power (MCHP) market is predicted to grow significantly due to the increasing demand for cost-effective and energy-efficient systems, as well as a focus on reducing carbon emissions from power generation. Government support through incentives and subsidies is also expected to provide growth opportunities for the market. However, the lack of infrastructure may hinder the growth of the MCHP market.

North America is one of the leading regions in the combined heat and power market, with a rise in renewable energy development and government efforts to promote CHP for electricity generation. The commercial sector has been the dominant user of MCHP in the region for the past five years and is projected to continue during the forecast period. The US states of California and Alaska have a significant number of MCHP installations, driven by the growing need for heat and power in the region. For example, Mitsubishi Power received a contract to supply gas turbines to repower Genessee Units 1 and 2 from coal to natural gas, resulting in 64% greater efficiency. This, along with other similar initiatives, is expected to drive the growth of the MCHP market in the region.

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Micro Combined Heat and Power Market Report Highlights

• In 2020, High Power entered into a joint venture to develop and construct long-duration liquid air energy storage (LAES) projects at scale in Latin America. Under this project, High Power will provide a 50MW / 500MWh project in Chile’s Atacama region
• In March 2021, Valliant Group added a new model in geotherm, a brine water heat pump, and aroTHERM. Both are used in large new construction and renovation projects.

MICRO COMBINED HEAT AND POWER MARKET SEGMENTATION

The research report published by Market Research Strategy contains industry segments, as below-

Micro Combined Heat and Power Capacity Outlook (Revenue, USD Million, 2017 - 2030)

• Up to 2 KW
• 2KW to 10 KW
• 10 KW to 50 KW

Micro Combined Heat and Power Fuel Outlook (Revenue, USD Million, 2017 - 2030)

• Natural Gas
• Coal
• Renewable Sources
• Oil

Micro Combined Heat and Power Application Outlook (Revenue, USD Million, 2017 - 2030)

• Residential
• Industrial
• Commercial
• Others

Micro Combined Heat and Power Regional Outlook (Revenue, USD Million, 2017 - 2030)

• North America (U.S., and Canada)
• Europe (Germany, U.K., France, Italy, Spain etc.)
• Asia-Pacific (China, India, Japan, Indonesia, Malaysia, Australia, South Korea, etc.)
• South America (Brazil, Mexico, Argentina etc.)
• Middle East & Africa (Saudi Arabia, Kuwait, UAE, South Africa etc.)

 List of Key Players- Micro Combined Heat and Power Market

• Honda Power
• Vaillant Group
• Yanmar Holdings
• Ceres Power Holdings
• AISIN Corporation
• BDR Thermea Group
• Centrica Plc
• Viessmann Group
• Dantherm Power

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