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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

Format: PDF | Pages: 583 | Report ID: MRS1252


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.)

Frequently Asked Questions

The global Micro Combined Heat and Power market size was valued at USD 4,209.3 million in 2022, expanding at a CAGR 12.6% from 2023-2030 to reach 9,008.1 Million USD in 2030.
North America captured the highest revenue in 2021 and is projected to continue its dominance during the study period.
The global Micro Combined Heat and Power market is expanding at a CAGR 12.6% from 2023-2030 to reach 9,008.1 Million USD in 2030.
Asia Pacific (especially China, and India) region is projected to grow at the fastest growth rate during the study period.
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 merger & acquisition, partnership, and new product launches to remain competent in the market. For example, in March 2022, Valliant Group has added a new model in geotherm, a brine water heat pump, and aroTHERM. Both are used in large new construction and renovation projects.

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