Global Micro Combined Heat and Power (Micro-CHP) Market 2019-2023 | Evolving Opportunities With 2G Energy AG and Ballard Power Systems | Technavio
LONDON--(BUSINESS WIRE)--Nov 22, 2019--
Technavio has been monitoring the global micro combined heat and power (micro-CHP) market and the market is poised to grow by 17.4 GW during 2019-2023 at a CAGR of over 23% during the forecast period. Request Free Sample Pages
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Technavio has announced its latest market research report titled global micro combined heat and power market 2019-2023. (Graphic: Business Wire)
Read the 112-page research report with TOC on “Micro Combined Heat and Power (micro-CHP) Market Analysis Report by Technology (Fuel cells and Engines), by Geography (APAC and ROW), and Segment Forecasts, 2019 - 2023.”
The market is driven by the economic and environmental benefits of micro-CHP. In addition, the growing need for clean energy fuel is anticipated to further boost the demand for the micro-CHP market.
Micro-CHP systems are extensively being used in private dwellings, public infrastructure, and commercial buildings as they can attain an overall efficiency of 90%. These systems generate power close to the point of consumption by supporting the grid integration of various renewable energy sources and balancing them. In addition, they ease grid congestion, eliminate the need for new transmission and distribution (T&D) infrastructure, and avoid T&D losses. Thus, the economic and environmental benefits of using micro-CHP systems are expected to drive market growth during the forecast period.
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Major Five Micro Combined Heat and Power (micro-CHP) Market Companies:
2G Energy AG
2G Energy AG is headquartered in Germany and operates the business under various segments such as CHP systems/after sales and Service. The company offers micro-CHP units for heat and electricity generation.
Ballard Power Systems
Ballard Power Systems is headquartered in Canada and offers products through the business unit, Fuel cell products and services. The company offers micro-CHP systems, which employ fuel cell products.
Honda Motor Co., Ltd.
Honda Motor Co., Ltd. is headquartered in Japan and operates under various business segments, namely Motorcycle business, Automobile business, Financial services business, and Power product and Other businesses. The company offers micro-CHP units which provide electrical power for a variety of home applications.
Panasonic Corporation is headquartered in Japan and offers products through the following business segments: Appliances, Eco solutions, Connected solutions, Automotive and industrial systems, and Other. The company offers fuel cell micro-CHP units.
Yanmar Holdings Co., Ltd.
Yanmar Holdings Co., Ltd. is headquartered in Japan and offers light-weight, compact and small micro-CHP systems for supplying hot water and power to buildings.
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Micro Combined Heat and Power (micro-CHP) Technology Outlook (Revenue, USD Million, 2019 - 2023)
Micro Combined Heat and Power (micro-CHP) Regional Outlook (Revenue, USD Million, 2019 - 2023)
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PUB: 11/22/2019 06:00 PM/DISC: 11/22/2019 06:00 PM