Europe Combined Heat and Power (CHP) Market

Europe Combined Heat and Power (CHP) Market by Applications (Industrial and Utility, Residential, and Commercial), Fuel Types (Coal, Natural Gas, Biomass, Renewable, and Others) and Geographies (United Kingdom, Germany, Netherlands, and the Rest of Europe) - Industry Analysis, Growth, Share, Size, Trends, and Forecast 2021 – 2028

  • Report ID: ICT-SE-1128
  • Author: Growth Market Reports
  • Rating: 4.7
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  • No. Of Pages: 179
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Europe combined heat and power market size is anticipated to register a significant CAGR of more than 3.9% during the forecast period, 2021–2028. The growth of the market is attributed to the rising energy consumption, falling energy costs, the incorporation of renewable power, and the reduction of CO2 emissions.

Europe Combined Heat and Power (CHP) Market Key Takeaways

Combined heat and power generation is the process of producing both electricity and heat at the same time. This is accomplished by burning a variety of fuels, including natural gas, oil, and biofuels. The advantages of cogeneration over traditional techniques are cost savings in production processes due to reduced superfluous energy consumption. CHP is a power-efficient system that generates electricity and absorbs waste heat to produce useable thermal energy, such as steam or hot water, for space heating, home hot water, cooling, and industrial processes.

CHP can be installed at a single company or building, or as part of a district power or utility system. CHP is most commonly seen in buildings that require both electrical and thermal energy.

Market Trends, Drivers, Restraints, and Opportunities

  • Growing use of natural gas for electricity production and the rising need for fuel efficiency throughout industries is anticipated to push the market expansion in the coming years.
  • Several government efforts and programs supporting cogeneration are key factors boosting the market growth during the forecast period.
  • Grid connectivity, which requires considerable initial capital, and maintenance cost for the CHP business in the region is estimated to restrict the market growth.
  • Increasing energy prices and strict rules possess as main challenges that can impede the market expansion in the coming years.
  • Increasing investment in the establishment of small-scale manufacturing systems in the region is expected to offer lucrative opportunities for the service providers.
  • New technologies including fuel cell-based micro CHP are projected to create significant opportunities for the market players.

Scope of the Report

The report on Europe combined heat and power market includes an assessment of the market, trends, segments, and regional markets. Overview and dynamics have also been included in the report.

Attributes

Details

Report Title

Combined Heat and Power Market - Europe Industry Analysis, Growth, Share, Size, Trends, and Forecast

Base Year

2020

Historic Data

2018–2019

Forecast Period

2021–2028

Segmentation

Applications (Industrial and Utilities, Residentials, and Commercials), and Fuel Types (Coal, Natural Gas, Biomass, Renewables, and Others)

Geographies

United Kingdom, Germany, Netherlands, and the Rest of Europe

Report Coverage

Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, and Trends, and Revenue Forecast

Key Players Covered in the Report

Siemens AG; Mitsubishi Hitachi Power Systems Europe, Ltd.; General Electric Company; Engie SA; and Energy AG


Europe Combined Heat and Power Market Segment Insights

Industrial and utility segment is projected to represent a major market share
Based on applications, Europe combined heat and power market is segmented into industrial and utilities, residentials, and commercials. The industrial and utility segment is expected to account for a key share of the market in the coming years due to Electricity and heat are provided to sectors such as pulp and paper, aluminum, chemicals, ceramics, glass, textiles, food and beverage, and steel makers by Europe's CHP industry. Owing to CHP can offer all of a hospital's power generation effectively and endlessly during grid outages, it is a preferable energy resource for hospitals. Even if it is only for a short time, losing power at a hospital can cause key life support systems to fail. When the power goes out, people's lives can be endangered.

Europe Combined Heat and Power (CHP) Market By Applications

Biomass segment is expected to grow at a rapid pace
On the basis of fuel types, the market is divided into coal, natural gas, biomass, renewables, and others. The biomass segment is expected to constitute a key share of the market during the forecast period owing to the biomass market has increased substantially. Because the CO2 produced by biomass combustion is already collected by the plants being combusted, it is a carbon-free activity. For facilities with a steady demand for both electricity and heat, biomass combined heat and power can be a very beneficial technology, especially if the facility is off the mains gas grid and biomass fuel is easily accessible. Small and medium-sized CHP facilities typically use biomass that is readily available in the area. Large CHP facilities and coal/biomass co-firing power plants need biomass from all around the world, as well as imported forestry and wood waste.

Biomass includes sustainable and environmentally beneficial biofuels made from animal fats and vegetable oils. Biomass is mostly utilized as a fuel for small-scale CHP systems and is expected to increase rapidly since it helps to reduce environmental pollution gases and meet specific targets for using renewable energy sources.

Germany is expected to dominate the market
On the basis of geographies, Europe combined heat and power market is categorized as United Kingdom, Germany, Netherlands, and the Rest of Europe. Germany is anticipated to expand at a healthy CAGR during the forecast period. The geographic market growth can be attributed to micro-CHP units for separate residences that have become available in Germany and across Europe in recent years. As a result, the increasing effort in Europe to promote CHP is projected to propel the demand for CHP in the coming years. Germany improved its support plan by adding assured premiums, which encouraged large-scale district heating network expenditures. Smaller retail enterprises with adequate heat loads followed major industries in chemicals and refining.

1. Executive Summary
2. Assumptions and Acronyms Used
3. Research Methodology
4. Combined Heat and Power (CHP) Market Overview
  4.1. Introduction
     4.1.1. Market Taxonomy
     4.1.2. Market Definition
  4.2. Macro-Economic Factors
     4.2.1. Industry Outlook
  4.3. Combined Heat and Power (CHP) Market Dynamics
     4.3.1. Market Drivers
     4.3.2. Market Restraints
     4.3.3. Opportunity
     4.3.4. Market Trends
  4.4. Combined Heat and Power (CHP) Market - Supply Chain
  4.5. Global Combined Heat and Power (CHP) Market Forecast
     4.5.1. Combined Heat and Power (CHP) Market Size (US$ Mn) and Y-o-Y Growth
     4.5.2. Combined Heat and Power (CHP) Market Size (000’ Units) and Y-o-Y Growth
     4.5.3. Combined Heat and Power (CHP) Market Absolute $ Opportunity
5. Global Combined Heat and Power (CHP) Market Analysis and Forecast by Applications
  5.1. Market Trends
  5.2. Introduction
     5.2.1. Basis Point Share (BPS) Analysis by Applications
     5.2.2. Y-o-Y Growth Projections by Applications
  5.3. Combined Heat and Power (CHP) Market Size and Volume Forecast by Applications
     5.3.1. Industrial and Utilities Residentials Commercials
  5.4. Absolute $ Opportunity Assessment by Applications
  5.5. Market Attractiveness/Growth Potential Analysis by Applications
6. Global Combined Heat and Power (CHP) Market Analysis and Forecast by Region
  6.1. Market Trends
  6.2. Introduction
     6.2.1. Basis Point Share (BPS) Analysis by Region
     6.2.2. Y-o-Y Growth Projections by Region
  6.3. Combined Heat and Power (CHP) Market Size and Volume Forecast by Region
     6.3.1. North America
     6.3.2. Latin America
     6.3.3. Europe
     6.3.4. Asia Pacific
     6.3.5. Middle East and Africa (MEA)
  6.4. Absolute $ Opportunity Assessment by Region
  6.5. Market Attractiveness/Growth Potential Analysis by Region
  6.6. Global Combined Heat and Power (CHP) Demand Share Forecast, 2019-2026
7. North America Combined Heat and Power (CHP) Market Analysis and Forecast
  7.1. Introduction
     7.1.1. Basis Point Share (BPS) Analysis by Country
     7.1.2. Y-o-Y Growth Projections by Country
  7.2. North America Combined Heat and Power (CHP) Market Size and Volume Forecast by Country
     7.2.1. U.S.
     7.2.2. Canada
  7.3. Absolute $ Opportunity Assessment by Country
  7.4. North America Combined Heat and Power (CHP) Market Size and Volume Forecast by Applications
     7.4.1. Industrial and Utilities Residentials Commercials
  7.5. Basis Point Share (BPS) Analysis by Applications
  7.6. Y-o-Y Growth Projections by Applications
  7.7. Market Attractiveness/Growth Potential Analysis
     7.7.1. By Country
     7.7.2. By Product Type
     7.7.3. By Application
  7.8. North America Combined Heat and Power (CHP) Demand Share Forecast, 2019-2026
8. Latin America Combined Heat and Power (CHP) Market Analysis and Forecast
  8.1. Introduction
     8.1.1. Basis Point Share (BPS) Analysis by Country
     8.1.2. Y-o-Y Growth Projections by Country
     8.1.3. Latin America Average Pricing Analysis
  8.2. Latin America Combined Heat and Power (CHP) Market Size and Volume Forecast by Country
      8.2.1. Brazil
      8.2.2. Mexico
      8.2.3. Rest of Latin America
   8.3. Absolute $ Opportunity Assessment by Country
  8.4. Latin America Combined Heat and Power (CHP) Market Size and Volume Forecast by Applications
     8.4.1. Industrial and Utilities Residentials Commercials
  8.5. Basis Point Share (BPS) Analysis by Applications
  8.6. Y-o-Y Growth Projections by Applications
  8.7. Market Attractiveness/Growth Potential Analysis
     8.7.1. By Country
     8.7.2. By Product Type
     8.7.3. By Application
  8.8. Latin America Combined Heat and Power (CHP) Demand Share Forecast, 2019-2026
9. Europe Combined Heat and Power (CHP) Market Analysis and Forecast
  9.1. Introduction
     9.1.1. Basis Point Share (BPS) Analysis by Country
     9.1.2. Y-o-Y Growth Projections by Country
     9.1.3. Europe Average Pricing Analysis
  9.2. Europe Combined Heat and Power (CHP) Market Size and Volume Forecast by Country
     9.2.1. Germany
     9.2.2. France
     9.2.3. Italy
     9.2.4. U.K.
     9.2.5. Spain
     9.2.6. Russia
     9.2.7. Rest of Europe
  9.3. Absolute $ Opportunity Assessment by Country
  9.4. Europe Combined Heat and Power (CHP) Market Size and Volume Forecast by Applications
     9.4.1. Industrial and Utilities Residentials Commercials
  9.5. Basis Point Share (BPS) Analysis by Applications
  9.6. Y-o-Y Growth Projections by Applications
  9.7. Market Attractiveness/Growth Potential Analysis
     9.7.1. By Country
     9.7.2. By Product Type
     9.7.3. By Application
  9.8. Europe Combined Heat and Power (CHP) Demand Share Forecast, 2019-2026
10. Asia Pacific Combined Heat and Power (CHP) Market Analysis and Forecast
  10.1. Introduction
     10.1.1. Basis Point Share (BPS) Analysis by Country
     10.1.2. Y-o-Y Growth Projections by Country
     10.1.3. Asia Pacific Average Pricing Analysis
  10.2. Asia Pacific Combined Heat and Power (CHP) Market Size and Volume Forecast by Country
     10.2.1. China
     10.2.2. Japan
     10.2.3. South Korea
     10.2.4. India
     10.2.5. Australia
     10.2.6. Rest of Asia Pacific (APAC)
  10.3. Absolute $ Opportunity Assessment by Country
  10.4. Asia Pacific Combined Heat and Power (CHP) Market Size and Volume Forecast by Applications
     10.4.1. Industrial and Utilities Residentials Commercials
  10.5. Basis Point Share (BPS) Analysis by Applications
  10.6. Y-o-Y Growth Projections by Applications
  10.7. Market Attractiveness/Growth Potential Analysis
     10.7.1. By Country
     10.7.2. By Product Type
     10.7.3. By Application
  10.8. Asia Pacific Combined Heat and Power (CHP) Demand Share Forecast, 2019-2026
11. Middle East & Africa Combined Heat and Power (CHP) Market Analysis and Forecast
  11.1. Introduction
     11.1.1. Basis Point Share (BPS) Analysis by Country
     11.1.2. Y-o-Y Growth Projections by Country
     11.1.3. Middle East & Africa Average Pricing Analysis
  11.2. Middle East & Africa Combined Heat and Power (CHP) Market Size and Volume Forecast by Country
     11.2.1. Saudi Arabia
     11.2.2. South Africa
     11.2.3. UAE
     11.2.4. Rest of Middle East & Africa (MEA)
  11.3. Absolute $ Opportunity Assessment by Country
  11.4. Middle East & Africa Combined Heat and Power (CHP) Market Size and Volume Forecast by Applications
     11.4.1. Industrial and Utilities Residentials Commercials
  11.5. Basis Point Share (BPS) Analysis by Applications
  11.6. Y-o-Y Growth Projections by Applications
  11.7. Market Attractiveness/Growth Potential Analysis
     11.7.1. By Country
     11.7.2. By Product Type
     11.7.3. By Application
  11.8. Middle East & Africa Combined Heat and Power (CHP) Demand Share Forecast, 2019-2026
12. Competition Landscape
  12.1. Global Combined Heat and Power (CHP) Market: Market Share Analysis
  12.2. Combined Heat and Power (CHP) Distributors and Customers
  12.3. Combined Heat and Power (CHP) Market: Competitive Dashboard
  12.4. Company Profiles (Details: Overview, Financials, Developments, Strategy)
     12.4.1. Siemens AG Mitsubishi Hitachi Power Systems Europe, Ltd. General Electric Company Engie SA  
Segments Covered in the Report
Europe combined heat and power market has been segmented based on

Applications
  • Industrial and Utilities
  • Residentials
  • Commercials
Fuel Types
  • Coal
  • Natural Gas
  • Biomass
  • Renewables
  • Others
Geographies
  • United Kingdom
  • Germany
  • Netherlands
  • the Rest of Europe
Key Players
  • Siemens AG
  • Mitsubishi Hitachi Power Systems Europe, Ltd.
  • General Electric Company
  • Engie SA
  • Energy AG

Key players competing in Europe combined heat and power market are Siemens AG; Mitsubishi Hitachi Power Systems Europe, Ltd.; General Electric Company; Engie SA; and Energy AG. Some of these players are adopting several business strategies such as acquisitions, mergers, collaborations, partnerships, capacity expansion, and product launches to increase their market shares.

Europe Combined Heat and Power (CHP) Market By Key Players

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