Global Cogeneration Equipment Market:
Industry Analysis and forecast 2026: By
Technology, Capacity, Fuels, Application
Global Cogeneration Equipment Market was valued US$ XX Bn in 2018 and is
expected to reach US$ XX Bn by 2026, at CAGR of 4.8% during forecast
period of 2019 to 2026.
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Global Cogeneration Equipment Market Drivers and
Cogeneration or Combined heat and power (CHP) system is refer to
simultaneously generate electrical and thermal energy from a single fuel source.
These fuel sources can be natural gas, biomass, wood, coal, waste heat and oil.
Cogeneration equipment contains steam and gas turbines, heat recovery systems
and electric generators that provide power to equipment and machines like fans,
pumps, refrigerators, steamers and dehumidifiers. This equipment workings
more efficiently and has a smaller carbon emissions by up to XX% than other
The increasing electricity demand combined with growing application in
renewable energy is expected to impel the cogeneration equipment market
growth during the forecast period. Growing renewable energy plants in
emerging regions of Asia Pacific and Latin America is estimated to drive
demand in the near future. Natural gas is one of the most extensively used fuel
in combined heat and power (CHP) systems. It is available in abundant quantity,
mostly in Russia, the U.S., Canada, Qatar and Iran. Reducing price and
abundant availability of natural gas, helpful government policies along with
aging infrastructure are expected to drive CHP equipment demand over the
However, High initial investment requirement is hampering the market growth
at the global level. These systems are beneficial, but due to their complex
technological requirements, its high initial investment than the conventional
systems and many small & medium-sized organizations and institutions find it
difficult to afford them.