![]() ![]() The combined cycle sub-segment registered the highest revenue in 2021. ![]() Technology: Combined Cycle Sub-Segment to be Most Profitable In addition, the government’s micro-CHP fuel cell effort can generate up to 10 MW of power without burning fuel which is expected to augment the growth of the market sub-segment during the forecast period. This is mainly because up to 10 MW energy systems offer reduced energy costs compared to other traditional systems. The up to 10 MW sub-segment held the greatest market share in 2021. Moreover, the increasing government focus on adopting cleaner fuels in their energy mix is expected to fortify the growth of the market sub-segment over the estimated period.Ĭapacity: Up to 10 MW Sub-Segment to be Most Beneficial This is mainly because natural gas is a useful fuel for CHP systems owing to its greater availability and lower carbon emissions. The natural gas sub-segment is predicted to have the fastest growth during the analysis timeframe. The report has divided the market into segments based on fuel type, capacity, technology, application, and region.įuel Type: Natural Gas Sub-Segment to be Most Productive Segments of the Combined Heat Power Market However, the increased installation and maintenance costs of combined heat power may hamper the growth of the market throughout the forecast period.ĭownload a Comprehensive PDF Sample of Combined Heat Power Market Moreover, the increasing trend of distributed power generation due to their better efficiency and stable generation capacity is expected to create massive growth opportunities over the estimated period. Īs per our analysts, the rising industrialization and urbanization throughout the world have increased the electricity demand which is expected to bolster the growth of the global combined heat power market throughout the analysis timeframe. New York, USA, (GLOBE NEWSWIRE) - According to a report published by Research Dive, the global combined heat power market is predicted to generate a revenue of $48,399.1 million and rise at a CAGR of 7.2% over the estimated timeframe from 2022 to 2031.
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