Micro Combined Heat and Power Market will surpass an annual installation of 3 GW by 2024
MarketStudyReport.com Adds New Micro Combined Heat and Power Market 2018 – 2024 research report providing information and data By Capacity, By Prime Mover, By Application, Industry Analysis, Regional Outlook, Application Potential, Competitive Market Share & Forecast spreading across 291 Pages with table and figures in it.
Germany micro combined heat and power market is projected to grow owing to government initiatives to promote the adoption of green technology coupled with rising demand for heating systems from residential and commercial application. The KWKG 2016 Act was initiated in 2016 to promote the deployment of CHP plant and has set a target to generate 110 TW hours electricity by 2020.
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Micro Combined Heat and Power Market will surpass an annual installation of 3 GW by 2024. Rising awareness and measures toward deployment of renewable technologies with an aim to maintain clean energy supply along with reduction of carbon footprints is set to drive the product installation. Introduction of directives and incentives comprising subsidies, tax reduction policies and feed in tariff will positively impact the micro cogeneration systems demand.
Key micro combined heat and power market players include Yanmar, Marathon Engine Systems, Vaillant, Viessmann, BDR Thermea, ENER-G Rudox, 2G Energy AG, AISIN SEIKI, Samad Power, Siemens, General Electric, Aegis energy and Veolia.
Increasing demand for sustainable, reliable and cost-effective technology for heat & electricity generation across commercial and residential sectors will complement the global micro combined heat and power market growth. Stringent government regulations coupled with efforts to minimize electricity expenses is set to encourage the product penetration. The European Commission aims to reduce GHG emissions by around 40% by 2030, in comparison to the 1990 levels.
Stirling engine micro combined heat and power market will grow by 2024. Rising demand for the systems in residential sector owing to their functionality in low power range is set to propel the product penetration. Low gas emissions, less maintenance requirement and operational flexibility are few of the features predicted to complement the business landscape.
Renewable micro combined heat and power market contributed over 14% to the global market share in 2017. Limited land availability for incinerators and landfills coupled with rising awareness & promotion of waste management will encourage the product penetration. Introduction of government initiatives pertaining the utilization of biomass is further set to complement the industry dynamics.
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Commercial micro combined heat and power market will grow on account of introduction of norms and codes toward green infrastructure. The Government of UK introduced the renewable heat incentive program that offers monetary assistance for renewable heat generation units across.
Table of content:
Chapter 1. Methodology & Scope
Chapter 2. Executive Summary
Chapter 3. Micro Combined Heat and Power Industry Insights
Chapter 4. Micro Combined Heat and Power Market, By Capacity
Chapter 5. Micro Combined Heat and Power Market, By Fuel
Chapter 6 Micro Combined Heat & Power Market, By Prime Mover
Chapter 7 Micro Combined Heat & Power Market, By Application
Chapter 8. Micro Combined Heat and Power Market, By Region
Chapter 9. Company Profiles
Outer scope of this report Citing an example for the same, AEP is going to decommission 11 coal plants, representing nearly 6500 MW of coal-based power generating capacity, in a bid to comply with the Mercury & Air Toxics Standards set by Environmental Protection Agency. AEP is simultaneously making substantial investments in renewable sources of energy production. Thus, burgeoning measures toward the espousal of renewable technologies for nourishing clean energy and reducing carbon footprints would drive the global micro combined heat and power (CHP) market.
Introduction of favorable incentive schemes such as feed in tariff, subsidies and tax deduction policies would add considerable impetus to the micro combined heat and power market growth in the upcoming years. For instance, New Jersey Clean Program announced a USD1/W incentive for small combined heat and power systems with capacity less than 500kW and USD 0.50/W incentive for CHP systems with capacity 501 kW to 1000kW. Technological advancements in micro cogeneration systems to enhance cost-effectiveness and energy efficiency will further propel the micro combined heat and power business sphere.
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