Global Combined Heat and Power Market (CHP) – Industry Analysis and Forecast (2019-2027)

Based on technology, gas turbine Combined Heat and Power held the highest market share driven by high energy efficiency coupled with low fuel consumption. Replacement of existing coal-fired power stations with modern gas-fired systems to reduce carbon footprint will positively influence the industry landscape. In 2017, two coal-fired units of Appalachian Power's Clinch River Power Plant in the U.S. were converted to natural gas.
On the basis of end-user, industrial combined heat and power market size is set to exceed USD 22 billion by 2026. Growing development of small-scale industrial sector coupled with high electricity demand will positively influence the business growth. The rise in demand for reliable and cost-effective technologies along with measures towards carbon footprints will propel the commercial CHP market.

Leave a Reply

Your email address will not be published. Required fields are marked *