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Cogeneration Equipment: Global Strategic Business Report

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    Report

  • 264 Pages
  • March 2024
  • Region: Global
  • Global Industry Analysts, Inc
  • ID: 2228016

Global Cogeneration Equipment Market to Reach $114.8 Billion by 2030

The global market for Cogeneration Equipment estimated at US$63.7 Billion in the year 2022, is projected to reach a revised size of US$114.8 Billion by 2030, growing at a CAGR of 7.6% over the analysis period 2022-2030. Natural Gas / LPG, one of the segments analyzed in the report, is projected to record 9.8% CAGR and reach US$34.5 Billion by the end of the analysis period. Taking into account the ongoing post pandemic recovery, growth in the Biogas segment is readjusted to a revised 7.3% CAGR for the next 8-year period.

The U.S. Market is Estimated at $17.4 Billion, While China is Forecast to Grow at 12.7% CAGR

The Cogeneration Equipment market in the U.S. is estimated at US$17.4 Billion in the year 2022. China, the world's second largest economy, is forecast to reach a projected market size of US$28.4 Billion by the year 2030 trailing a CAGR of 12.7% over the analysis period 2022 to 2030. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 3.5% and 7.1% respectively over the 2022-2030 period. Within Europe, Germany is forecast to grow at approximately 4.6% CAGR.

Select Competitors (Total 23 Featured) -

  • 2G Energy Inc.
  • AB Holding SpA
  • ABB Limited
  • Aegis Energy Services, Inc.
  • Ameresco, Inc.
  • ANDRITZ Energy & Environment GmbH
  • Baxi SpA
  • BDR Thermea Group BV
  • Bosch Industriekessel GmbH
  • Burmeister & Wain Scandinavian Contractor A/S
  • Capstone Turbine Corporation
  • Centrica Business Solutions
  • Clarke Energy
  • GE Power
  • Kawasaki Heavy Industries, Ltd.
  • LOINTEK
  • Mitsubishi Heavy Industries Engine & Turbocharger, Ltd. (MHIET)
  • Rolls Royce Plc.
  • Siemens AG
  • Sumitomo SHI FW
  • Tecogen Inc.
  • The Viessmann Group
  • Veolia Environnement S.A.
  • YANMAR Co., Ltd.

What's New?

  • Special coverage on Russia-Ukraine war; global inflation; easing of zero-Covid policy in China and its `bumpy` reopening; supply chain disruptions, global trade tensions; and risk of recession.
  • Global competitiveness and key competitor percentage market shares
  • Market presence across multiple geographies - Strong/Active/Niche/Trivial
  • Online interactive peer-to-peer collaborative bespoke updates
  • Access to digital archives and Research Platform
  • Complimentary updates for one year

Frequently Asked Questions about the Global Market for Cogeneration Equipment

What is the estimated value of the Global Market for Cogeneration Equipment?

The Global Market for Cogeneration Equipment was estimated to be valued at $50.3 Billion in 2020.

What is the growth rate of the Global Market for Cogeneration Equipment?

The growth rate of the Global Market for Cogeneration Equipment is 7.2%, with an estimated value of $82.1 Billion by 2027.

What is the forecasted size of the Global Market for Cogeneration Equipment?

The Global Market for Cogeneration Equipment is estimated to be worth $82.1 Billion by 2027.

Who are the key companies in the Global Market for Cogeneration Equipment?

Key companies in the Global Market for Cogeneration Equipment include 2G Energy Inc., AB Holding SpA, ABB Limited, Aegis Energy Services, Inc., Ameresco, Inc., ANDRITZ Energy & Environment GmbH, Baxi SpA, BDR Thermea Group BV, Bosch Industriekessel GmbH and Burmeister & Wain Scandinavian Contractor A/S.

Table of Contents

I. METHODOLOGYII. EXECUTIVE SUMMARY
1. MARKET OVERVIEW
  • Influencer Market Insights
  • World Market Trajectories
  • Cogeneration: The Next Generation Eco-friendly and Energy-Efficient Technology for Heating and Power Needs
  • Growth Drivers in a Nutshell
  • Key Challenges & Constraints
  • Combined Heat and Power (CHP): Regional Developments Summarized
  • Recent Market Activity
  • CHP Technology Revolutionizes the Power Generation Landscape
  • Cogeneration: A Universal Power Solution…
  • ….Achieving Energy Efficiencies of More than 90%
  • Myriad Benefits & Superior Attributes over Conventional Power Generation Drive Market Adoption
  • Cogeneration System Vs Conventional Power System: A Graphical Representation
  • Global Market Outlook
  • Competitive Market Presence - Strong/Active/Niche/Trivial for Players Worldwide in 2022 (E)
  • Cogeneration Equipment - Global Key Competitors Percentage Market Share in 2022 (E)
  • Impact of Covid-19 and a Looming Global Recession
2. FOCUS ON SELECT PLAYERS
  • 2G Energy Inc. (USA)
  • AB Holding SpA (Italy)
  • ABB Limited (Switzerland)
  • Aegis Energy Services, Inc. (USA)
  • Ameresco, Inc. (USA)
  • ANDRITZ Energy & Environment GmbH (Austria)
  • BDR Thermea Group BV (The Netherlands)
  • Baxi Group Limited (UK)
  • Bosch Industriekessel GmbH (Germany)
  • Burmeister & Wain Scandinavian Contractor A/S (Denmark)
  • Capstone Turbine Corporation (USA)
  • Clarke Energy (UK)
  • Cogenra Solar, Inc. (USA)
  • Centrica Business Solutions (UK)
  • GE Power (USA)
  • Kawasaki Heavy Industries, Ltd. (Japan)
  • LOINTEK (Spain)
  • Mitsubishi Heavy Industries Engine & Turbocharger, Ltd. (MHIET) (Japan)
  • Rolls Royce Plc. (UK)
  • Siemens AG (Germany)
  • Solar Turbines Incorporated (USA)
  • Sumitomo SHI FW (Japan)
  • Takuma Co., Ltd. (Japan)
  • Tecogen Inc. (USA)
  • The Viessmann Group (Germany)
  • Veolia Environnement S.A. (France)
  • YANMAR Co., Ltd. (Japan)
3. MARKET TRENDS & DRIVERS
  • Essential Role of MicroCHP in Realizing Smart Energy Strategies Drive Healthy Market Growth
  • Benefits of MicroCHP Energy Generation for Various Residential and Commercial Application Areas
  • Japan and Germany: Leading Adopters of Micro CHP Technology Worldwide
  • Micro CHP Generation Systems Adoption Driven by Government Incentives
  • Shifting Focus of Research from Cogeneration to Small Scale CHP Systems
  • Steam Turbines Continues to be the Preferred Prime Mover Used in the Cogeneration Systems
  • Gas Turbines
  • Steam Turbines
  • Reciprocating Engines
  • Microturbines
  • Fuel Cells
  • Other Equipment
  • Surging Energy Consumption and the Resulting Increase in Power Generation Shifts Focus on Cogeneration
  • Favorable Policies and Developments Provide the Perfect Platform for Market Growth
  • Trigeneration and Quattrogeneration: The Next Big Thing in Combined Heat & Power Generation
  • Growing Prominence of Heat Energy in Total Energy Consumption Augurs Well for the Market
  • District Heating & Cooling: Enabling Superior Pollution Control and Higher Efficiencies
  • Industrial Cogeneration: The Dominant End-use Application Continue to Spearhead Growth
  • Fuel Shifts in Industrial CHP in Countries across the World Favor Market Growth
  • Underpenetrated Commercial CHP Offers Huge Growth Potential
  • Preferred Solutions for Increased Adoption of Commercial CHP Systems
  • Rising Focus on Being Grid-Independent & Self-Reliant Drives Adoption in Healthcare Facilities
  • Environmental Benefits of Combined Heat and Power (CHP) Plants Bodes Well for Market Penetration
  • Domestic Targets for Greenhouse Gas Emissions of Select Regions/Countries
  • Expanding Renewables Share in the Power Generation Mix Spurs Market Demand
  • Renewable CHP Gain Ground in Newer Application Areas Other than the Traditional Industries
  • Healthy Growth Projected for Gas Turbines Installations in CHP Plants across the World
  • Future Gas Turbines to Overcome Current Challenges and Promote Market Growth
  • Gas Engines & Gas Turbines for CHP: A Comparison
  • Increasing Installations of Microgrids Lend Traction to Market Growth
  • Increasing Installations of Microgrids Lend Traction to Market Growth
  • Adoption of Packaged CHP Systems Gain Momentum
  • CHP with Biogas: An Effective Approach to Use Distributed Energy
  • Bagasse Cogeneration: Enormous Potential in Sugar Producing Countries
  • Increasing Investments in CHP Plants in the Developing Countries Offer Significant Growth Opportunities
  • Favorable Demographic and Urbanization Trends Strengthen Market Prospects
  • Rapid Urbanization: A Mega Growth Driver for Cogeneration Equipment
  • Key Challenges Hampering Widespread Adoption of Cogeneration Technology
  • High Capital Investment
  • Connectivity to Grid
  • Lack of Interconnection Standards
  • Environment Related Issues and Unfavorable Regulations
  • Need for R&D
4. GLOBAL MARKET PERSPECTIVE
  • Table 1: World Recent Past, Current & Future Analysis for Cogeneration Equipment by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Sales in US$ Million for Years 2022 through 2030 and % CAGR
  • Table 2: World 8-Year Perspective for Cogeneration Equipment by Geographic Region - Percentage Breakdown of Value Sales for USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets for Years 2023 & 2030
  • Table 3: World Recent Past, Current & Future Analysis for Natural Gas by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Sales in US$ Million for Years 2022 through 2030 and % CAGR
  • Table 4: World 8-Year Perspective for Natural Gas by Geographic Region - Percentage Breakdown of Value Sales for USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa for Years 2023 & 2030
  • Table 5: World Recent Past, Current & Future Analysis for Non-Fossil Fuels by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Sales in US$ Million for Years 2022 through 2030 and % CAGR
  • Table 6: World 8-Year Perspective for Non-Fossil Fuels by Geographic Region - Percentage Breakdown of Value Sales for USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa for Years 2023 & 2030
  • Table 7: World Recent Past, Current & Future Analysis for Other Fuel Types by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Sales in US$ Million for Years 2022 through 2030 and % CAGR
  • Table 8: World 8-Year Perspective for Other Fuel Types by Geographic Region - Percentage Breakdown of Value Sales for USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa for Years 2023 & 2030
  • Table 9: World Recent Past, Current & Future Analysis for Natural Gas / LPG by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Sales in US$ Million for Years 2022 through 2030 and % CAGR
  • Table 10: World 8-Year Perspective for Natural Gas / LPG by Geographic Region - Percentage Breakdown of Value Sales for USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa for Years 2023 & 2030
  • Table 11: World Recent Past, Current & Future Analysis for Biogas by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Sales in US$ Million for Years 2022 through 2030 and % CAGR
  • Table 12: World 8-Year Perspective for Biogas by Geographic Region - Percentage Breakdown of Value Sales for USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa for Years 2023 & 2030
  • Table 13: World Recent Past, Current & Future Analysis for Coal by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Sales in US$ Million for Years 2022 through 2030 and % CAGR
  • Table 14: World 8-Year Perspective for Coal by Geographic Region - Percentage Breakdown of Value Sales for USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa for Years 2023 & 2030
  • Table 15: World Recent Past, Current & Future Analysis for Diesel by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Sales in US$ Million for Years 2022 through 2030 and % CAGR
  • Table 16: World 8-Year Perspective for Diesel by Geographic Region - Percentage Breakdown of Value Sales for USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa for Years 2023 & 2030
  • Table 17: World Recent Past, Current & Future Analysis for Steam Turbine by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Sales in US$ Million for Years 2022 through 2030 and % CAGR
  • Table 18: World 8-Year Perspective for Steam Turbine by Geographic Region - Percentage Breakdown of Value Sales for USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa for Years 2023 & 2030
  • Table 19: World Recent Past, Current & Future Analysis for Combined Steam by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Sales in US$ Million for Years 2022 through 2030 and % CAGR
  • Table 20: World 8-Year Perspective for Combined Steam by Geographic Region - Percentage Breakdown of Value Sales for USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa for Years 2023 & 2030
  • Table 21: World Recent Past, Current & Future Analysis for Gas Turbine by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Sales in US$ Million for Years 2022 through 2030 and % CAGR
  • Table 22: World 8-Year Perspective for Gas Turbine by Geographic Region - Percentage Breakdown of Value Sales for USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa for Years 2023 & 2030
  • Table 23: World Recent Past, Current & Future Analysis for Reciprocating Engine by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Sales in US$ Million for Years 2022 through 2030 and % CAGR
  • Table 24: World 8-Year Perspective for Reciprocating Engine by Geographic Region - Percentage Breakdown of Value Sales for USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa for Years 2023 & 2030
  • Table 25: World Recent Past, Current & Future Analysis for Commercial by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Sales in US$ Million for Years 2022 through 2030 and % CAGR
  • Table 26: World 8-Year Perspective for Commercial by Geographic Region - Percentage Breakdown of Value Sales for USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa for Years 2023 & 2030
  • Table 27: World Recent Past, Current & Future Analysis for Industrial by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Sales in US$ Million for Years 2022 through 2030 and % CAGR
  • Table 28: World 8-Year Perspective for Industrial by Geographic Region - Percentage Breakdown of Value Sales for USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa for Years 2023 & 2030
  • Table 29: World Recent Past, Current & Future Analysis for Residential by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Sales in US$ Million for Years 2022 through 2030 and % CAGR
  • Table 30: World 8-Year Perspective for Residential by Geographic Region - Percentage Breakdown of Value Sales for USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa for Years 2023 & 2030
  • Table 31: World Cogeneration Equipment Market Analysis of Annual Sales in US$ Million for Years 2014 through 2030
III. MARKET ANALYSIS
UNITED STATES
  • Cogeneration Equipment Market Presence - Strong/Active/Niche/Trivial - Key Competitors in the United States for 2023 (E)
CANADA
JAPAN
  • Cogeneration Equipment Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Japan for 2023 (E)
CHINA
  • Cogeneration Equipment Market Presence - Strong/Active/Niche/Trivial - Key Competitors in China for 2023 (E)
EUROPE
  • Cogeneration Equipment Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Europe for 2023 (E)
FRANCE
  • Cogeneration Equipment Market Presence - Strong/Active/Niche/Trivial - Key Competitors in France for 2023 (E)
GERMANY
  • Cogeneration Equipment Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Germany for 2023 (E)
ITALY
UNITED KINGDOM
  • Cogeneration Equipment Market Presence - Strong/Active/Niche/Trivial - Key Competitors in the United Kingdom for 2023 (E)
SPAINRUSSIAREST OF EUROPE
ASIA-PACIFIC
  • Cogeneration Equipment Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Asia-Pacific for 2023 (E)
AUSTRALIA
  • Cogeneration Equipment Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Australia for 2023 (E)
INDIA
  • Cogeneration Equipment Market Presence - Strong/Active/Niche/Trivial - Key Competitors in India for 2023 (E)
SOUTH KOREAREST OF ASIA-PACIFIC
LATIN AMERICA
  • Cogeneration Equipment Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Latin America for 2023 (E)
ARGENTINABRAZILMEXICOREST OF LATIN AMERICA
MIDDLE EAST
  • Cogeneration Equipment Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Middle East for 2023 (E)
IRANISRAELSAUDI ARABIAUNITED ARAB EMIRATESREST OF MIDDLE EAST
AFRICA
  • Cogeneration Equipment Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Africa for 2023 (E)
IV. COMPETITION

Companies Mentioned

A selection of companies mentioned in this report includes:

  • 2G Energy Inc.
  • AB Holding SpA
  • ABB Limited
  • Aegis Energy Services, Inc.
  • Ameresco, Inc.
  • ANDRITZ Energy & Environment GmbH
  • Baxi SpA
  • BDR Thermea Group BV
  • Bosch Industriekessel GmbH
  • Burmeister & Wain Scandinavian Contractor A/S
  • Capstone Turbine Corporation
  • Centrica Business Solutions
  • Clarke Energy
  • GE Power
  • Kawasaki Heavy Industries, Ltd.
  • LOINTEK
  • Mitsubishi Heavy Industries Engine & Turbocharger, Ltd. (MHIET)
  • Rolls Royce Plc.
  • Siemens AG
  • Sumitomo SHI FW
  • Tecogen Inc.
  • The Viessmann Group
  • Veolia Environnement S.A.
  • YANMAR Co., Ltd.