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Combined Heat & Power - Global Market Trajectory & Analytics

  • ID: 4804225
  • Report
  • April 2021
  • Region: Global
  • 485 Pages
  • Global Industry Analysts, Inc
Global Combined Heat and Power Market to Reach $27.4 Billion by 2027

Amid the COVID-19 crisis, the global market for Combined Heat and Power estimated at US$21 Billion in the year 2020, is projected to reach a revised size of US$27.4 Billion by 2027, growing at a CAGR of 3.9% over the analysis period 2020-2027. Upto 10 MW, one of the segments analyzed in the report, is projected to record a 4.7% CAGR and reach US$2.9 Billion by the end of the analysis period. After an early analysis of the business implications of the pandemic and its induced economic crisis, growth in the 10-150 MW segment is readjusted to a revised 4% CAGR for the next 7-year period.

The U.S. Market is Estimated at $5.7 Billion, While China is Forecast to Grow at 6.9% CAGR

The Combined Heat and Power market in the U.S. is estimated at US$5.7 Billion in the year 2020. China, the world's second largest economy, is forecast to reach a projected market size of US$5.8 Billion by the year 2027 trailing a CAGR of 6.9% over the analysis period 2020 to 2027. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 1.2% and 2.9% respectively over the 2020-2027 period. Within Europe, Germany is forecast to grow at approximately 2% CAGR.

151-300 MW Segment to Record 3.6% CAGR

In the global 151-300 MW segment, USA, Canada, Japan, China and Europe will drive the 3.1% CAGR estimated for this segment. These regional markets accounting for a combined market size of US$4.7 Billion in the year 2020 will reach a projected size of US$5.8 Billion by the close of the analysis period. China will remain among the fastest growing in this cluster of regional markets. Led by countries such as Australia, India, and South Korea, the market in Asia-Pacific is forecast to reach US$3.9 Billion by the year 2027, while Latin America will expand at a 4.5% CAGR through the analysis period.

Select Competitors (Total 44 Featured):
  • AB Holding SpA
  • Capstone Turbine Corporation
  • Caterpillar Energy Solutions (Mwm)
  • Clarke Energy
  • FuelCell Energy, Inc.
  • General Electric Company
  • G-Energy Global Private Limited
  • MAN Energy Solutions SE
  • Mitsubishi Hitachi Power Systems Ltd.
  • Siemens AG
  • Veolia Environnement S.A.
  • Wartsila Corporation
Frequently Asked Questions about the Global Market for Combined Heat and Power

What is the estimated value of the Global Market for Combined Heat and Power?

The Global Market for Combined Heat and Power was estimated to be valued at $21.0 Billion in 2020.

What is the growth rate of the Global Market for Combined Heat and Power?

The growth rate of the Global Market for Combined Heat and Power is 3.9%, with an estimated value of $27.4 Billion by 2027.

What is the forecasted size of the Global Market for Combined Heat and Power?

The Global Market for Combined Heat and Power is estimated to be worth $27.4 Billion by 2027.
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  • Influencer Market Insights
  • Combined Heat and Power (CHP): A Prelude
  • Steady Growth Projected for CHP Market
  • Impact of Covid-19 and a Looming Global Recession
  • Rising Demand for Captive Power Generation Builds Momentum for CHP Market
  • Shifting Focus towards Sustainable Energy Creates Conducive Environment
  • Enhanced Energy Consumption in Industrial Sector Steers CHP Deployments
  • CHP Deployments Set to Increase in Commercial Buildings Vertical
  • Residential Sector: Niche Application Market
  • Natural Gas Extends Ideal Fuel for CHP Plants
  • Biomass-based Cogeneration Gains Traction
  • Small CHPs Set to Make Big Gains
  • Emphasis on Distributed Power Delivery Model in Large Urban Areas Builds Market Momentum
  • Adoption of CHP Plants Gains Traction Across End-Use Verticals and Geographies: A Review of Select Recent Announcements in the CHP Domain
  • Shaw Industries Builds CHP Plant at its South Carolina Fiber Production Facility
  • The US DoE Grants CHP R&D Funding
  • Fairbanks Morse Helps Launch of 10 MW Dual Fuel CHP Microgrid in Puerto Rico
  • University of Minnesota Replaces Century Old Heating Plant with New CHP Plant at its Twin Cities Campus
  • Edina to Deploy 3-Engine CHP Plant to Portsmouth Naval Base
  • Rolls-Royce Collaborates with Energyco to Deploy Cogeneration Plant in Kosice, Slovakia
  • New CHP Plant Deployed at the University of Göttingen


  • Total Companies Profiled: 44
Note: Product cover images may vary from those shown