The global market for Cogeneration Equipment was estimated at US$68.3 Billion in 2024 and is projected to reach US$114.8 Billion by 2030, growing at a CAGR of 9.0% from 2024 to 2030. This comprehensive report provides an in-depth analysis of market trends, drivers, and forecasts, helping you make informed business decisions. The report includes the most recent global tariff developments and how they impact the Cogeneration Equipment market.
Technological advancements are driving significant improvements in cogeneration equipment. Innovations in gas turbines, reciprocating engines, and fuel cell technologies have increased the efficiency and flexibility of CHP systems. Modern cogeneration systems can operate on various fuels, including natural gas, biomass, biogas, and waste heat, making them adaptable to different energy sources and environmental conditions. Additionally, the integration of digital control systems and IoT-enabled monitoring has enhanced the operational efficiency, reliability, and maintenance of CHP plants. These technological enhancements are making cogeneration systems more viable and attractive for a wider range of applications, from small-scale residential units to large industrial complexes.
The growth in the cogeneration equipment market is driven by several factors. Rising energy costs and the need for more efficient energy utilization are primary drivers, as businesses and industries seek to reduce operational expenses and enhance sustainability. Government incentives and regulatory frameworks promoting energy efficiency and renewable energy sources are also propelling market growth. The increasing adoption of distributed energy generation and the growing awareness of environmental impacts are further boosting the demand for CHP systems. Moreover, the advancement in fuel-flexible and low-emission technologies, along with the expansion of urbanization and industrialization in emerging economies, is expanding the market`s reach. These factors, combined with the continuous push towards reducing carbon footprints and achieving energy independence, are expected to sustain the robust growth of the cogeneration equipment market in the coming years.
Cogeneration Equipment - Key Trends and Drivers
Cogeneration equipment, also known as combined heat and power (CHP) systems, are used to simultaneously generate electricity and useful thermal energy from a single fuel source. These systems are highly efficient, capturing heat that would otherwise be wasted in traditional power generation processes and using it for heating, cooling, or industrial processes. Cogeneration is particularly advantageous in industries with high energy demands, such as manufacturing, chemical production, and large commercial buildings. By integrating electricity and heat production, these systems reduce energy costs, lower greenhouse gas emissions, and enhance energy security and reliability.Technological advancements are driving significant improvements in cogeneration equipment. Innovations in gas turbines, reciprocating engines, and fuel cell technologies have increased the efficiency and flexibility of CHP systems. Modern cogeneration systems can operate on various fuels, including natural gas, biomass, biogas, and waste heat, making them adaptable to different energy sources and environmental conditions. Additionally, the integration of digital control systems and IoT-enabled monitoring has enhanced the operational efficiency, reliability, and maintenance of CHP plants. These technological enhancements are making cogeneration systems more viable and attractive for a wider range of applications, from small-scale residential units to large industrial complexes.
The growth in the cogeneration equipment market is driven by several factors. Rising energy costs and the need for more efficient energy utilization are primary drivers, as businesses and industries seek to reduce operational expenses and enhance sustainability. Government incentives and regulatory frameworks promoting energy efficiency and renewable energy sources are also propelling market growth. The increasing adoption of distributed energy generation and the growing awareness of environmental impacts are further boosting the demand for CHP systems. Moreover, the advancement in fuel-flexible and low-emission technologies, along with the expansion of urbanization and industrialization in emerging economies, is expanding the market`s reach. These factors, combined with the continuous push towards reducing carbon footprints and achieving energy independence, are expected to sustain the robust growth of the cogeneration equipment market in the coming years.
Scope of Study:
The report analyzes the Cogeneration Equipment market in terms of units by the following Segments, and Geographic Regions/Countries:- Segments: Fuel Type (Natural Gas / LPG, Biogas, Coal, Diesel, Other Fuel Types); Technology (Steam Turbine, Combined Steam, Gas Turbine, Reciprocating Engine); Application (Commercial, Industrial, Residential)
- Geographic Regions/Countries: World; United States; Canada; Japan; China; Europe (France; Germany; Italy; United Kingdom; Spain; Russia; and Rest of Europe); Asia-Pacific (Australia; India; South Korea; and Rest of Asia-Pacific); Latin America (Argentina; Brazil; Mexico; and Rest of Latin America); Middle East (Iran; Israel; Saudi Arabia; United Arab Emirates; and Rest of Middle East); and Africa.
Key Insights:
- Market Growth: Understand the significant growth trajectory of the Natural Gas segment, which is expected to reach US$34.3 Billion by 2030 with a CAGR of a 9.7%. The Natural Gas / LPG segment is also set to grow at 9.1% CAGR over the analysis period.
- Regional Analysis: Gain insights into the U.S. market, estimated at $17.6 Billion in 2024, and China, forecasted to grow at an impressive 12.8% CAGR to reach $28.4 Billion by 2030. Discover growth trends in other key regions, including Japan, Canada, Germany, and the Asia-Pacific.
Why You Should Buy This Report:
- Detailed Market Analysis: Access a thorough analysis of the Global Cogeneration Equipment Market, covering all major geographic regions and market segments.
- Competitive Insights: Get an overview of the competitive landscape, including the market presence of major players across different geographies.
- Future Trends and Drivers: Understand the key trends and drivers shaping the future of the Global Cogeneration Equipment Market.
- Actionable Insights: Benefit from actionable insights that can help you identify new revenue opportunities and make strategic business decisions.
Key Questions Answered:
- How is the Global Cogeneration Equipment Market expected to evolve by 2030?
- What are the main drivers and restraints affecting the market?
- Which market segments will grow the most over the forecast period?
- How will market shares for different regions and segments change by 2030?
- Who are the leading players in the market, and what are their prospects?
Report Features:
- Comprehensive Market Data: Independent analysis of annual sales and market forecasts in US$ Million from 2024 to 2030.
- In-Depth Regional Analysis: Detailed insights into key markets, including the U.S., China, Japan, Canada, Europe, Asia-Pacific, Latin America, Middle East, and Africa.
- Company Profiles: Coverage of players such as 2G Energy Inc., AB Holding SpA, ABB Limited, Aegis Energy Services, Inc., Ameresco, Inc. and more.
- Complimentary Updates: Receive free report updates for one year to keep you informed of the latest market developments.
Some of the 23 companies featured in this Cogeneration Equipment market report 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
- 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.
This edition integrates the latest global trade and economic shifts as of June 2025 into comprehensive market analysis. Key updates include:
- Tariff and Trade Impact: Insights into global tariff negotiations across 180+ countries, with analysis of supply chain turbulence, sourcing disruptions, and geographic realignment. Special focus on 2025 as a pivotal year for trade tensions, including updated perspectives on the Trump-era tariffs.
- Adjusted Forecasts and Analytics: Revised global and regional market forecasts through 2030, incorporating tariff effects, economic uncertainty, and structural changes in globalization. Includes segmentation by product, technology, type, material, distribution channel, application, and end-use, with historical analysis since 2015.
- Strategic Market Dynamics: Evaluation of revised market prospects, regional outlooks, and key economic indicators such as population and urbanization trends.
- Innovation & Technology Trends: Latest developments in product and process innovation, emerging technologies, and key industry drivers shaping the competitive landscape.
- Competitive Intelligence: Updated global market share estimates for 2025, competitive positioning of major players (Strong/Active/Niche/Trivial), and refined focus on leading global brands and core players.
- Expert Insight & Commentary: Strategic analysis from economists, trade experts, and domain specialists to contextualize market shifts and identify emerging opportunities.
- Complimentary Update: Buyers receive a free July 2025 update with finalized tariff impacts, new trade agreement effects, revised projections, and expanded country-level coverage.
Table of Contents
I. METHODOLOGYII. EXECUTIVE SUMMARY2. FOCUS ON SELECT PLAYERSIV. COMPETITION
1. MARKET OVERVIEW
3. MARKET TRENDS & DRIVERS
4. GLOBAL MARKET PERSPECTIVE
III. MARKET ANALYSIS
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
| Report Attribute | Details |
|---|---|
| No. of Pages | 264 |
| Published | July 2025 |
| Forecast Period | 2024 - 2030 |
| Estimated Market Value ( USD | $ 68.3 Billion |
| Forecasted Market Value ( USD | $ 114.8 Billion |
| Compound Annual Growth Rate | 9.0% |
| Regions Covered | Global |
