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Forestry Equipment Tires Market– Overview On Demanding Applications 2028

The global market for commercial combined heat and power (CHP) systems should reach $26.1 billion by 2022 from $20.2 billion in 2017 at a compound annual growth rate (CAGR) of 5.2%, from 2017 to 2022.

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Report Scope:

The CHP system reduces the cost of electricity and heat production by increasing the thermal efficiency of the system. The CHP systems are used in industrial, commercial and residential applications. The report segments the market on the basis of end-use sector, fuel type, technology and equipment. The key technologies used in CHP systems are also covered at length. The report focuses on energy conservation technologies as well.

All major markets are further segmented on geography basis. The major geography covered in the report are North America, Europe, Asia-Pacific (APAC) and the Rest of World (RoW). Furthermore, a country specific breakdown of the CHP system market is also included in the report. Values were estimated on the basis of cumulative CHP installed capacity, annual CHP installed capacity, various application markets, average cost of technology and revenue generated from the sale of various equipment and services. The study covers the global commercial CHP market irrespective of the included countries. Countries were included mainly on the basis of total revenue generated. Major countries included in the report are the U.S., Canada, Germany, the U.K., Spain, Italy, France, China, Japan and India.

Estimated values used are based on manufacturers’ total revenues and forecasted revenue values are in constant U.S. dollars, unadjusted for inflation. Unit volumes of energy production as well as revenue generated from the sale of CHP systems and services were tracked in order to estimate the market. A large number of manufacturers as well as end users are profiled in the report for a better understanding of the market.

This report on the commercial CHP market provides a market overview, assesses application markets, provides an end user analysis, and evaluates the CHP market by technology, fuel type and geographical region. The major companies are profiled, and includes a detailed introduction, product portfolios and recent developments for each.

Report Includes:

– An overview of the global commercial combined heat and power (CHP) market
– Analyses of global market trends, with data from 2016, estimates for 2017, and projections of compound annual growth rates (CAGRs) through 2022
– Breakdown of the market by application, technology, fuel, equipment, and geography
– Detailed analysis pertaining to the market’s dynamics, including growth driving factors, restraints, challenges, and opportunities
– Information regarding market strategies, product launches, and mergers and acquisitions
– Profiles of major players in the industry

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Summary

The commercial combined heat and power (CHP) market is increasing modestly with an expected compound annual growth rate (CAGR) of 5.2% from 2017 through 2022. The market is segmented on the basis of end-use sector, fuel, technology and region. The major factors driving the CHP market across the globe include the demand for energy conservation, cohesive government policies, high efficiency and technological advancement. High initial cost may affect the market growth, however, rising environmental concern, rising demand for energy and favorable government policies are expected to boost the market in the near future. Cost effectiveness and capability to increase overall operational
efficiency are major motivators of the commercial CHP market.

It is estimated that around two-thirds of the energy used to generate electricity is wasted in the form of heat discharged to the atmosphere and there is considerable energy loss in the distribution of electricity to the end users. On the other hand, CHP has the potential to provide efficiencies of around 60% to 80% compared with 40% to 50% for conventional technologies. As a result, there is imminent demand for CHP technologies across the globe. The on-site electricity generation effectively captures the wasted heat to provide useful thermal energy such as steam or hot water that can be used for space heating, cooling, industrial processes and domestic hot water.

CHP is widely adopted by major hospitals, schools, university campuses, hotels, nursing homes, office buildings and apartment complexes to save on energy costs, increase energy reliability and cut carbon emissions. In 2012, commercial buildings and institutional applicants represented 13% of CHP systems in the U.S. In 2016, the U.S. government set a target to produce 40 gigawatts (GW) of new, cost-effective CHP by 2020, which is estimated to provide manufacturers and companies savings of $10 billion each year in energy costs. Capital investment in plants and facilities is expected to rise in the near future. Additionally, the CHP market will enable the reduction of carbon pollution by 150 million metric tons
(Mt), which is estimated to be the emissions of more than 25 million cars. It has ecofriendly attributes and may reduce carbon emissions by an estimated 25% to 30% as compared with conventional systems.

The end-use application sector will grow at a modest rate of 5.2% during the forecast period with a major contribution from industrial and commercial sectors. The commercial and district energy end-user sector is expected to grow at the highest CAGR of 6.6% during the forecast period. District energy refers to the combination of electricity, steam, heating, or cooling at a central plant and with a distribution of energy to a network of nearby buildings. This encourages managers of individual buildings to get connected to the network in order to avoid the need to install and maintain their own boilers, furnaces, chillers, or air conditioners, thus saving on capital and maintenance costs.

The CHP systems are available for all type of the fuels and applications. CHP application and fueling are greatly depend on the country and the energy producer. North America and China uses coal in industrial applications while France uses gas as its main fuel for CHP. In Russia, a higher share of electricity generation is with CHP. Other major countries are also adopting CHP for electricity generation to reduce carbon emissions. The CHP systems are preferred by consumers in all the geographies as the consumers pay less energy costs with increased energy efficiency from this system. American companies and manufacturers could potentially save around $10 billion by 2020 with the use of CHP systems.

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By oliver