07 November 2019
Cogeneration Equipment Market Report 2020-2030: Forecasts by Fuel (Natural Gas, Biomass, Coal, Others), Technology (Reciprocating Engine, Steam Turbine, Gas Turbine, Others), by Region (North America, Europe, Asia Pacific, Latin America, Middle East & Africa) and analysis of leading companies operating in this industry.
Increasing global requirement for electricity combined with growing use of renewable energy is expected to fuel the market for cogeneration machinery over the next seven years. Over the next seven years, the industry is anticipated to develop at an approximately 9% CAGR. It is anticipated that rising energy rates will stay a main driver of market growth.
Cogeneration or mixed thermal and power (CHP) devices are used to produce electricity and heat energy concurrently from a single type of fuel such as natural gas, biomass, timber, carbon, landfill thermal or petroleum. CHP devices can function at concentrations of up to 77% to 81% relative to standard machines ' effectiveness of around 46% and can decrease coal pollution by up to 29% relative to standard structures.
Increasing renewable energy initiatives are anticipated to boost supply over the forecast period in emerging Asia Pacific and Latin America areas. In mixed thermal and energy (CHP) structures, natural gas is the most commonly used petrol. It is abundantly accessible, especially in Russia, the United States, Canada, Iran, and Qatar. In the close future, decreasing prices and extensive supply of natural gas are anticipated to fuel positive public strategies along with outdated infrastructure.
CHP is widely used in a broad range of apps including residential buildings, oil & gas infrastructure, tiny and big sectors, and business apps such as clinics, colleges, and shopping centers. Cogeneration technologies have apps in industrial and commercial apps as well as in larger housing apps. The energy produced by cogeneration crops is used in a broad spectrum of purposes, including manufacturing procedures, room and air cooling.
Some of the main constraints for this industry are the high original capital demand along with trouble in adequate utility contact. These solutions are useful in the lengthy run, but owing to their complicated technological needs, their original price is very large relative to standard technologies, and many tiny and medium-sized organisations and institutions discover it hard to afford them.
Sustainable energy development plans taken by countries are offering favourable policies and incentives that support the growth of the BIPV solar power market. The decreasing cost of solar PV panels and modules is also anticipated to augment market adoption over the coming years.
11 May 2021
Factors such as massive rise in production efficiencies at mature fields and surge in demand of energy are some of the major factors driving the market growth.
06 May 2021
The unpredictability and fluctuations of crude oil price in past two years and turmoil in energy markets has led countries to look for alternate energies such as recovering energy from solar, the wind, fossil fuels, biomass, and waste.
05 May 2021
In the coming decade, enhanced oil recovery strategies are set to be increasingly relevant in the international petroleum industry with increased global energy requirements, ageing oil fields and the shortage of traditional oil finds.