Micro CHP Market Size, Share, Growth, Industry Analysis, Opportunities and Forecast 2018-2023

 

Micro combined heat and power (micro-CHP) is a combined technology which generates heat and electricity by using the fuel cell or through an internal combustion engine. The produced energy supports in providing power in individual homes, complexes and buildings. Heat is the main output of a micro-CHP system, with electricity generation in a ratio of about 6:1 for domestic appliances. Factors motivating the growth of this market are increasing government support & initiative for generation of renewable energy in emerging region such as Asia Pacific. This is due to its multiple energy generation specialties, heat and electricity generated simultaneously without any carbon residue. Micro CHP high price and maintenance cost may affect the growth of micro CHP market. However, continuous improvement from the global player in micro CHP devices has provided better heating boiler substitute. In addition, its uses in residential purpose towards smart energy are expected to bring new opportunity to this market

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Geographically micro CHP market is divided into North America, Europe, Asia Pacific and Rest of the World.  Asia Pacific region represents considerably the largest market for Micro CHP in terms of its uses and revenue generation. It is due to increasing R&D funding by government for generation of smart and renewable energy.  Europe and North America are expected to have a lucrative growth in this market. The increasing adoption of renewable energy and hike in electricity prices the major reasons for Micro CHP market growth. The major countries that will contribute to the market are the US, Canada, UK, Germany, Spain, France, and Italy.

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The global players in the micro CHP market include Aisin Seiki Co., Ltd., Ceres power holdings, Honda power, and MTT Micro Turbine Technology BV. The strategy adopted in these companies are continuous investments in (R&D) which made them progress over the past several years in producing various smart energy devices and micro CHP. Continuous improvement on Micro CHP sensors helps the market player to offers high-value product and services. In March 2018 Ceres power launched its SteelCell, fuel cell which enables in more than 60% of net system efficiencies with no combustion. It doubles the efficiency of conventional combustion engine technology of micro CHP without any harmful emissions.

Global Micro CHP Market- Segmentation

By technology

• Internal combustion engine
• Organic rankine cycle
• Fuel cells
• Stirling engine technology
• Gas turbines
• Combined cycle gas turbines
• Steam turbines

By type

• Engine based
• Fuel cell based

By end-user

• Residential
• Commercial

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Global Micro CHP Market– Segment by Region

North America          

• United States
• Canada

Europe

• Germany
• United Kingdom
• France
• Spain
• Italy
• Rest of Europe

Asia-Pacific   

• China
• Japan
• India
• Rest of Asia-Pacific

Rest of the World

• Middle East & Africa
• Latin America

Company Profiles

• Aegis energy services, llc
• Aisin seiki co., ltd.
• Atco group
• Bdr thermea group
• Ceres power holdings plc
• Centrica business solutions
• Contatti enerblu cogeneration
• Evo energy technologies pty ltd
• General electric company
• Honda motor co., ltd.
• Marathon engine system
• Mtt micro turbine technology bv
• Nsc usa inc.
• Origen energy ltd.
• Qnergy
• Solid power inc.
• Vaillant group
• Viessmann group
• Yankee scientific inc
• Yanmar holdings co. Ltd.

 

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