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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

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 (Partial List)

A selection of companies mentioned in this report includes, but is not limited to:

  • 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.

Table Information