Micro Combined Heat & Power (Micro CHP) Market - Global Forecast to 2020 - New Report Available
Fast Market Research recommends "Micro Combined Heat & Power (Micro CHP) Market - Global Forecast to 2020" from Markets and Markets, now available
[USPRwire, Thu Feb 25 2016] Micro Combined Heat & Power (Micro CHP) Market by Type (Engine, Fuel Cell), Technology (Internal Combustion Engine, Rankine Cycle Engine, Stirling Engine, PEMFC, SOFC), Application (Residential, Commercial), & Region - Global Forecast to 2020
"Rise in autonomous heat & electricity generation boosts the market for Micro CHP"
The global Micro CHP market is expected to reach a size of USD 4.44 billion by 2020, at a CAGR of 14.2% from 2015 to 2020. Micro CHP technology enables decentralization of energy generation. With the increasing trend of independent heat & electricity generation, the demand for Micro CHP is on the rise in countries such as Germany, the U.K., the U.S. and Japan. Government supported policies, subsidies, high electricity prices, and concern over reducing carbon footprint in the Asia-Pacific, are driving the demand of micro CHP in the region. Japan is dependent on primary energy imports, energy efficiency benefits achieved by micro CHP systems are very valuable, and are driving the demand for residential micro CHP systems in the country.
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"Fuel cell-based micro CHP dominate the global market"
Fuel cell-based micro CHP held the largest market share in the global micro CHP market in 2014. It continues to hold the highest position during the forecast period, due to the focus on renewable energy generation and reduction in carbon emissions. Fuel cell-based micro CHP systems are also being developed for automotive applications and historically adopted among the majority of other micro CHP systems.
North America: The fastest growing region in the micro CHP market
In North American countries, namely the U.S. and Canada, the fast growth of micro CHP market is attributed to countries that experience long and cold winters, which require micro CHP units as a heat led product, along with electricity. Canada appears to hold great potential for as a market for micro CHPs however these activities are currently limited to the laboratory and field tests. In near future, there will be an increase in demand for residential micro CHP systems in the region due to the favorable government policies in the U.S. and focus on the reduction of greenhouse gases.
Breakdown of Primaries:
In-depth interviews have been conducted with various key industry participants, subject matter experts, C-level executives of key market players, and industry consultants among other experts to obtain and verify critical qualitative and quantitative information as well as assess future market prospects. Distribution of primary interviews is as follows:
By Company Type: Tier 1- 35%, Tier 2-45%, and Tier 3-20%
By Designation: C-Level-35%, Director Level-25%, and Others*-40%
By Region: North America-10%, Europe-35%, Asia-Pacific-55%
Note:*Others include product managers, marketing managers, and sales managers
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