Micro Combined Heat and Power Market Status (2018-2022) and Forecast Market Analysis, Regional Outlook, Segment Growth Potential, and Competitive Market Share Analysis, 2023-2030
Report Description
The global Micro Combined Heat and Power market size was valued at USD 4,209.3 million in 2022, expanding at a CAGR of 12.6% from 2023-2030 to reach 9,008.1 Million USD in 2030.
Market Dynamics
The demand for micro combined heat and power (MHCP) is growing significantly in the global market, primarily due to the growing need for efficient and competitive energy systems. Micro Combined Heat and Power (MCHP) systems play a crucial role in energy systems and microgrids. They enhance the energy efficiency, simplify the integration of renewable energy sources, minimize carbon emissions, lower operational expenses, and enhance the reliability of essential infrastructure and the electric power system. Additionally, by producing heat and power simultaneously, MCHP can decrease carbon emissions by as much as 30% compared to conventional methods that utilize boilers and power plants. As per Cogen Europe, MCHP, as a fundamental part of the entire Combined Heat and Power (CHP) system, is on track to reach carbon neutrality in Europe by 2050. A focus on cogeneration for thermal heat and power generation across all sectors will maximize energy efficiency and unify the European energy system at a low cost, contributing to the growth of this global micro-combined heat and power market.
The pandemic has induced a steep decline in the global demand for MCHP systems, especially in economies with complete lockdowns. As these are used in utilities, commercial, water & wastewater treatment, and many other essential industries, manufacturers are facing supply chain disruption in the supply of MCHP systems. However, the market has witnessed a steep decline from the residential and commercial sectors due to the decline in global energy demand. Furthermore, key global companies in the MCHP market are facing a slowdown due to COVID-19 and are unable to initiate projects and execute product developments. However, as many economies have resumed economic activities, the demand for MCHP systems is expected to gradually increase by the first and second quarters of FY2022.
Regional Insights
North America currently holds a dominant position in the Micro Combined Heat and Power market as a result of the region's rising focus on clean energy and reducing carbon emissions. The countries in the Asia-Pacific region are experiencing rapid development in terms of manufacturing output and services offered. However, this growth has also resulted in a rise in emissions, with China and India being among the largest producers of carbon dioxide in the world. A few of the key drivers for the expansion of the Micro Combined Heat and Power (MCHP) market in the Asia-Pacific region include the growing demand for lower carbon emissions and the growing need for energy efficiency.
Segment Dynamics
The Micro Combined Heat and Power market is fragmented into the Capacity, Fuel, and applications segments. Based on the type, the 2KW to 10 KW segment is anticipated to dominate the market. By application, the commercial segment type is projected to grow at the highest CAGR during the forecasted period.
Competitive Insights
The Micro Combined Heat and Power market is highly competitive in nature with the presence of local & international players. Major players in the industry engage in strategic mergers & acquisitions, partnerships, and new product launches to remain competent in the market. For example, in March 2022, Valliant Group added a new model in geotherm, a brine water heat pump, and another. Both are used in large new construction and renovation projects.
The report begins with an overview of the Industry Chain structure, and describes the industry environment, then analyses market size and forecast of Micro Combined Heat and Powers by type, region, and application. In addition, this report introduces the market competition situation among the vendors, and the company profile, market price analysis, and value chain features are covered in this report.
Company Coverage (Company Profile, Sales Revenue, Price, Gross Margin, Main Products, etc.):
- Honda Power
- Vaillant Group
- Yanmar Holdings
- Ceres Power Holdings
- AISIN Corporation
- BDR Thermea Group
- Centrica Plc
- Viessmann Group
- Dantherm Power
Capacity Coverage (Market Size & Forecast, Main Consumer Analysis, etc.):
- Upto 2 KW
- 2KW to 10 KW
- 10 KW to 50 KW
Fuel Coverage (Market Size & Forecast, Main Consumer Analysis, etc.):
- Natural Gas
- Coal
- Renewable Sources
- Oil
Application Coverage (Market Size & Forecast, Main Consumer Analysis, etc.):
- Commercial
- Residential
- Industrial
- Others
Region Coverage (Regional Consumption, Demand & Forecast by Countries, etc.):
- 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.)
Table Of Content
TABLE OF CONTENT
1. Micro Combined Heat and Power Market Overview
1.1. Product Overview and Scope of Micro-Combined Heat and Power
1.2. Global Market Growth Prospects and Revenue Estimates
1.3. Global Micro Combined Heat and Power Consumption Comparison by Capacity: 2022 VS 2030
1.3.1. Up to 2 KW
1.3.2. 2KW to 10 KW
1.3.3. 10 KW to 50 KW
1.4. Global Micro Combined Heat and Power Consumption Comparison by Fuel Type: 2022 VS 2030
1.4.1. Natural Gas
1.4.2. Coal
1.4.3. Renewable Sources
1.4.4. Oil
1.5. Global Micro Combined Heat and Power Consumption Comparison by Application: 2022 VS 2030
1.5.1. Commercial
1.5.2. Residential
1.5.3. Industrial
1.5.4. Others
1.6. Global Micro Combined Heat and Power Market Size Estimates and Forecasts by Region: 2022 VS 2030
1.6.1. North America Micro Combined Heat and Power Estimates
1.6.2. Europe Micro Combined Heat and Power Estimates
1.6.3. China Micro Combined Heat and Power Estimates
1.6.4. Japan Micro Combined Heat and Power Estimates
2. Market Competition by Manufacturers
2.1. Global Micro Combined Heat and Power Revenue Market Share by Manufacturers (2020)
2.2. Micro Combined Heat and Power Market Share by Company Design (Tier 1, Tier 2 and Tier 3)
2.3. Global Micro Combined Heat and Power Average Price by Manufacturers (2018-2022)
2.4. Manufacturers Micro Combined Heat and Power Production Sites, Area Served, Product Types
2.5. Micro Combined Heat and Power Market Competitive Situation and Trends
2.5.1. Micro Combined Heat and Power Market Concentration Rate
2.5.2. Mergers & Acquisitions, Expansion
3. Global Micro Combined Heat and Power Consumption by Region (2018-2022)
3.1. Global Micro Combined Heat and Power Consumption by Region
3.2. Global Micro Combined Heat and Power Consumption Market Share by Region
3.2.1. North America
3.2.2. North America Micro Combined Heat and Power Consumption Growth Rate (2018-2022)
3.2.3. North America Micro Combined Heat and Power Consumption, Price and Gross Margin (2018-2022)
3.2.4. North America Micro Combined Heat and Power Consumption by Country
3.2.4.1. U.S.
3.2.4.2. Canada
3.2.5. Europe
3.2.6. Europe Micro Combined Heat and Power Consumption Growth Rate (2018-2022)
3.2.7. Europe Micro Combined Heat and Power Consumption, Price and Gross Margin (2018-2022)
3.2.8. Europe Micro Combined Heat and Power Consumption by Country
3.2.8.1. Germany
3.2.8.2. U.K.
3.2.8.3. France
3.2.8.4. Italy
3.2.8.5. Spain
3.2.9. Asia Pacific
3.2.10. Asia Pacific Micro Combined Heat and Power Consumption Growth Rate (2018-2022)
3.2.11. Asia Pacific Micro Combined Heat and Power Consumption, Price and Gross Margin (2018-2022)
3.2.12. Asia Pacific Micro Combined Heat and Power Consumption by Country
3.2.12.1. China
3.2.12.2. India
3.2.12.3. Japan
3.2.12.4. Indonesia
3.2.12.5. Malaysia
3.2.12.6. Australia
3.2.12.7. South Korea
3.2.13. South America
3.2.14. South America Micro Combined Heat and Power Consumption Growth Rate (2018-2022)
3.2.15. South America Micro Combined Heat and Power Consumption, Price and Gross Margin (2018-2022)
3.2.16. South America Micro Combined Heat and Power Consumption by Country
3.2.16.1. Brazil
3.2.16.2. Mexico
3.2.16.3. Argentina
3.2.17. Middle East and Africa
3.2.18. Middle East and Africa Micro Combined Heat and Power Consumption Growth Rate (2018-2022)
3.2.19. Middle East and Africa Micro Combined Heat and Power Consumption, Price and Gross Margin (2018-2022)
3.2.20. Middle East and Africa Micro Combined Heat and Power Consumption by Country
3.2.20.1. Saudi Arabia
3.2.20.2. Kuwait
3.2.20.3. UAE
3.2.20.4. South Africa
4. Global Micro Combined Heat and Power Consumption by Capacity (2018-2022)
4.1. Global Micro Combined Heat and Power Price by Capacity (2018-2022)
4.2. Global Micro Combined Heat and Power Revenue Market Share by Capacity (2018-2022)
4.2.1. Up to 2 KW
4.2.2. 2KW to 10 KW
4.2.3. 10 KW to 50 KW
5. Global Micro Combined Heat and Power Consumption by Fuel Type (2018-2022)
5.1. Global Micro Combined Heat and Power Price by Fuel Type (2018-2022)
5.2. Global Micro Combined Heat and Power Revenue Market Share by Fuel Type (2018-2022)
5.2.1. Natural Gas
5.2.2. Coal
5.2.3. Renewable Sources
5.2.4. Oil
6. Global Micro Combined Heat and Power Consumption by Application (2018-2022)
6.1. Global Micro Combined Heat and Power Price by Application (2018-2022)
6.2. Global Micro Combined Heat and Power Revenue Market Share by Application (2018-2022)
6.2.1. Industrial
6.2.2. Commercial
6.2.3. Residential
6.2.4. Others
7. Key Companies Profiled
7.1. Honda Power
7.1.1. Honda Power Micro Combined Heat and Power Corporation Information
7.1.2. Honda Power Micro Combined Heat and Power Product Portfolio
7.1.3. Honda Power Micro Combined Heat and Power Consumption, Price and Gross Margin (2018-2022)
7.1.4. Honda Power Main Business and Markets Served
7.1.5. Honda Power Recent Developments/Updates
7.2. Vaillant Group
7.3. Yanmar Holdings
7.4. Ceres Power Holdings
7.5. AISIN Corporation
7.6. BDR Thermea Group
7.7. Centrica Plc
7.8. Viessmann Group
7.9. Dantherm Power
8. Marketing Channel, Distributors and Customers
8.1. Marketing Channel
8.2. Micro Combined Heat and Power Distributors List
8.3. Micro Combined Heat and Power Customers
9. Market Dynamics
9.1. Micro Combined Heat and Power Industry Trends
9.2. Micro Combined Heat and Power Growth Drivers
9.3. Micro Combined Heat and Power Market Challenges
9.4. Micro Combined Heat and Power Market Restraints
10. Global Micro Combined Heat and Power Consumption and Demand Forecast, by Region (2023-2030)
10.1. Global Forecasted Demand Analysis of Micro Combined Heat and Power, by Regions and Country
10.1.1. North America Forecasted Consumption of Micro Combined Heat and Power by Country
10.1.2. Europe Market Forecasted Consumption of Micro Combined Heat and Power by Country
10.1.3. Asia Pacific Market Forecasted Consumption of Micro Combined Heat and Power by Region
10.1.4. Latin America Forecasted Consumption of Micro Combined Heat and Power by Country
10.1.5. Middle East and Africa Forecasted Consumption of Micro Combined Heat and Power by Country
11. Global Micro Combined Heat and Power Consumption and Demand Forecast, by Capacity Segments (2023-2030)
11.1. Global Forecasted Consumption of Micro Combined Heat and Power by Capacity Segments (2023-2030)
11.2. Global Consumption and Price Forecast by Capacity Segments (2023-2030)
11.3. Global Forecasted Growth Rate of Micro Combined Heat and Power by Capacity Segments (2023-2030)
12. Global Micro Combined Heat and Power Consumption and Demand Forecast, by Fuel Type Segments (2023-2030)
12.1. Global Forecasted Consumption of Micro Combined Heat and Power by Fuel Type Segments (2023-2030)
12.2. Global Consumption and Price Forecast by Type Segments (2023-2030)
12.3. Global Forecasted Growth Rate of Micro Combined Heat and Power by Fuel Type Segments (2023-2030)
13. Global Micro Combined Heat and Power Consumption and Demand Forecast, by Application Segments (2023-2030)
13.1. Global Forecasted Consumption of Micro Combined Heat and Power by Application Segments (2023-2030)
13.2. Global Consumption and Price Forecast by Application Segments (2023-2030)
13.3. Global Forecasted Growth Rate of Micro Combined Heat and Power by Application Segments (2023-2030)
14. Research Finding and Conclusion
15. Methodology and Data Source
15.1. Methodology/Research Approach
15.1.1. Research Programs/Design
15.1.2. Market Size Estimation
15.1.3. Market Breakdown and Data Triangulation
15.2. Data Source
15.2.1. Secondary Sources
15.2.2. Primary Sources
15.3. Author List
15.4. Disclaimer
Research Methodology
Our research studies are primarily performed in five phases which include Secondary Research, Primary Research, Subject Matter Expert Advice, Quality Check, and Final Review. The process opted for conducting thorough research to make authentic business reports is briefly described below-
Secondary Research-
- Based on the understanding of requirements, we conducted secondary research to identify the Segment specifications, qualitative and quantitative data along with the factors responsible for the growth of the market.
- The secondary sources referred for the study include press releases, company annual reports, and research papers related to the industry.
- Various sources such as industry magazines, trade journals, government websites, and associations were also reviewed for gathering precise analysis on opportunities for business expansions in the market.
- Moreover, quantitative as well as qualitative data were also extracted from paid databases, which included Reuters, Factiva, Bloomberg, One Source, and Hoovers, which proved to be useful for in-depth technical study of the market.
Primary Research-
- The research carried out during the desk research was verified by primary interviews. Primary research was scheduled with a number of industry experts for conducting telephonic interviews, and also our team send questionnaires through their official emails.
- The secondary data collected was then verified by various industry participants which included Segment managers, marketing managers, VPs, CEOs, purchasing managers, subject matter experts.
- An interview with the mentioned participants aids invalidation of our research findings regarding the Segment.
- It helps in the provision of first-hand data on factors such as market size, growth, regional trends, market trends, and competition in the industry. This approach makes our findings precise in order to help our clients in strategic decision-making processes.
Subject Matter Advice-
- The secondary and primary research key findings were then validated by the in-house subject matter experts having extensive experience in the market research industry.
- Specific requirements of the clients were reviewed by the experts to check for completion of the market study. Experts help in channelizing the representation skills of the analyst in terms of providing data that can be easily understood by our customers.
Quality Check-
- The analysis done by the research team was further reviewed to check for data accuracy provided to suit the clients’ specific requirements.
- This revision was done in various phases to check the data authenticity and to remove negligible errors in the final compilation.
Final Review-
- After the quality check, a final review of the report was done to look after the presentation, formatting, and to recheck if all the requirements of the clients were addressed. The next phase remains dispatch of the report to the client.
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