Strict Carbon Emission Laws to Drive Combined Heat and Power System Market through 2024

Increasing trend of carbon credit by reducing carbon emissions, expanding chemical and petrochemical industries, and growing demand for decentralized power generation to fuel global combined heat & power system market through 2024

According to a report published by TechSci Research on “Global Combined Heat and Power System Market By Capacity, By Prime Mover, By End Use, By Region, Competition, Forecast & Opportunities, 2024”, global combined heat and power system market is projected to grow at a decent pace during the forecast period. The growth of the market is majorly attributable to the growing demand for decentralized power, increasing demand for cogeneration from the industrial sector and stringent regulations for carbon emissions in many countries. Moreover, various initiatives aimed at the promotion of biogas and non-bagasse cogeneration systems by the governments of countries like India is further bolstering the growth of the combined heat and power system market.

By capacity, the global combined heat and power system market is categorized into below 5 MW, 5.1 MW – 10 MW, 10.1 MW – 150 MW, 150.1 MW – 300 MW and Above 300 MW. Among the capacities, above 300 MW category is predicted to be the largest due to rise of natural gas fired power plants in Asia-Pacific and North America. As most of the coal-fired plants are being phased out, these plants are being replaced with natural gas fired power plants for power generation.

By region, the global combined heat and power system market is categorized into Asia-Pacific, Europe, North America, South America and Middle East & Africa. Among the regions, Europe is anticipated to witness a healthy growth rate throughout the forecast period. Factors like increasing stringent environment emission norms, carbon saving targets, and focus on shifting away from power generation from coal have increased the uptake of CHP projects across Europe.

Browse market data Tables and Figures spread through 110 Pages and an in-depth TOC on “ Global Combined Heat and Power System Market”

https://www.techsciresearch.com/report/combined-heat-and-power-system-market/4081.html

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“Globally, the combined heat and power system market is predicted to witness decent growth over the course of next five years. The growth of the market is mainly due to the improved energy efficiency, reduced managing cost and low carbon dioxide emission from combined heat and power system. The market trends of combined heat and power generation system have been attractive over the past few years and investments in this market can prove very fruitful.” said, Mr. Karan Chechi Research Director with TechSci Research, a research based global management consulting firm.

“Global Combined Heat and Power System Market By Capacity, By Prime Mover, By End Use, By Region, Competition, Forecast & Opportunities, 2024” has evaluated the future growth potential of the global combined heat and power system market and provides statistics and information on market size, structure and future market growth. The report intends to provide cutting-edge market intelligence and help decision makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges and opportunities in global combined heat and power system market.

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