Cogeneration, also referred to as, combined heat and power (CHP), is the consumption of energy in two different forms concurrently, generally mechanical energy and thermal energy by using fuel energy at an ideal efficiency in a cost-effective and environmentally friendly way. The equipment that is used in the cogeneration system is – a pump, motor, air-compressor, steam turbines, combustion chamber, gas turbine, etc. The primary equipment used in cogeneration is steam turbine & engines, gas turbine, blades, combustion chamber, rotor, stationary nozzle, boiler, generator, condenser, pump, and many others.
According to the research report, ‘Global Cogeneration Equipment Market Status (2015-2019) and Forecast (2020-2024) by Region, Product Type & End-Use’ affirms that American DG Energy(US), Turner Crane(US), Allied Equipment’s(US), Caterpillar(US), GE Energy(US), Mitsubishi Heavy Industries(Japan), Baxi Group(UK), Siemens AG(Germany), Rolls Royce(UK), Alstorm Power(France), Cidea Uno Inc (US), Almeg Controls(Canada), Perry Process Equipment(UK), Green Energy(US), Solar Turbines Inc (US) and many others are some of the most significant players in the global cogeneration equipment market. The report covers an in-depth company profiling of each company aforementioned based on some parameters like a complete overview of the company, production capacity, collaborative business strategy, company performance, recent technology developments, regional presence of the company, and many more. The report also mentions the sales data information and detailed price trends of each company.
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Furthermore, the global cogeneration equipment market is segmented into three segments namely, by Type (Gas Turbines, Steam Turbines, Electric Generators, Heat Recovery Steam Generators (HRSG), Boilers, and Reciprocating Engines), by Application/End-User (Paper, Food, Chemical, Oil and Refining, and many others), and by Region (Asia-Pacific, Europe, North America, Middle East & Africa, South America and the rest of the world). The report contains thorough information about every country that comes under all the aforementioned regions. It distinguishes each country by all the factors and segments individually. Some of these countries are India, China, Germany, Chile, Peru, Korea, Japan, Switzerland, the UK, Brazil, and many more.
The report further analyses the market from various other aspects such as historical and forecast market data, supply and demand, application details, and company shares of the above-named players. Since the report contains the present status and the prospect of the market, it meticulously covers all other parameters like market dynamics, various features of the market, investment opportunities, key strategies, and much more.
In the forthcoming years, the global cogeneration equipment market will continue to grow and it is expected to increase at a substantial value in terms of revenue in USD million by the end of the year 2024, at a double-digit CAGR during the review period from 2020-2024. The cogeneration system helps to attenuate climate change and reduction in environmental concerns. This increased demand for cogeneration systems. Additionally, cogeneration often consumes less energy, it is also a cost-effective process, which further leads to more demand for cogeneration systems. The above factors are the major growth drivers for the amplification of the global cogeneration equipment market during the forecast period (2020-2024). Moreover, rising gas infrastructure across the world also increased the demand for cogeneration equipment, hence more growth in the market.
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Ankur Gupta, Head Marketing & Communications