Combined heat and power (CHP) generation is also known as cogeneration. It is an integrated process of generating electricity and thermal power in usable form. It reduces carbon emission by nearly 30% compared to conventional generation by a power station and a boiler.
CHP generation process can be applied to fossil as well as renewable fuels. It provides a cost-effective clean power generation process. CHP are classified based on technology into Stirling engine, internal combustion engine, organic Rankine cycle and proton exchange membrane fuel cell (PEMFC). Natural gas is most commonly used in CHP generations in a majority of the countries.
The most emerging markets for CHP generation are Japan, Germany, and South Korea. These countries have a wide range of fiscal incentives to end-users, a large manufacturing base, and clear policies. After the incident at the Fukushima Daiichi nuclear power plant of Japan, there is a shift in the usage of CHPs. China witnessed a significant growth in the last five years but currently its growth is sluggish compared to Germany and Japan. Germany has a strong feed in tariff policy which is bolstering the German CHP market.
The primary reasons for the development of this market are the government policies that are supportive to the development of CHP systems and decreased greenhouse gases emission which makes it environmentally more feasible. In addition to this, the lowered electrical expense coupled with higher efficiency of combustion makes it an ideal choice of the rapidly urbanizing market.
CHP units have a high cost factor which acts as the major inhibitor for the market. The high cost often offsets the advantage that the system provides. The infrastructural setup is another hurdle which most countries have not been able to overcome. The biggest opportunity for the CHP system market lies in its uses as a replacement to the boiler.
The boiler market is very large and with the advantages CHS system offers over the conventional boiler, the replacement of the boiler with CHS is an obvious choice.
Some of the key participants in the CHP market are SenerTec, Honda, Ene-Farm, Cogen Microsystems, and Dantherm Power.
This research report analyzes this market depending on its market segments, major geographies, and current market trends. Geographies analyzed under this research report include
- North America
- Asia Pacific
- Rest of the World
This report provides comprehensive analysis of
- Market growth drivers
- Factors limiting market growth
- Current market trends
- Market structure
- Market projections for upcoming years
This report is a complete study of current trends in the market, industry growth drivers, and restraints. It provides market projections for the coming years. It includes analysis of recent developments in technology, Porter’s five force model analysis and detailed profiles of top industry players. The report also includes a review of micro and macro factors essential for the existing market players and new entrants along with detailed value chain analysis.
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