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Combined Heat and Power (CHP) Market Size
- Report ID: GMI1537
- Published Date: Mar 2022
- Report Format: PDF
Combined Heat and Power Market Size
Combined Heat and Power Market size valued at USD 23 billion in 2023 and is projected to expand at a CAGR of over 7.6% from 2024 to 2032. The technology witnessed a substantial penetration across the globe owing to ongoing efforts to reduce the reliance on coal power plants and the introduction of cleaner generation technologies to curb soaring emissions.
However, the CHP market has observed a setback in the last two years due to the ongoing coronavirus outspread, which has compelled policymakers to impose strict lockdown protocols. These protocols have hindered the operations of manufacturing industries and various commercial offices, which in turn, have affected the demand for CHP technology across the globe.
Moreover, the industry is set to bounce back in 2022 as countries across regions are easing the lockdown protocols and allowing offices & industries to resume their operations. Furthermore, ongoing vaccination drives to slow the virus spread will further complement the market growth in the coming years.
| Report Attribute | Details |
|---|---|
| Base Year: | 2023 |
| Combined Heat and Power (CHP) Market Size in 2023: | USD 23 Billion |
| Forecast Period: | 2024 to 2032 |
| Forecast Period 2024 to 2032 CAGR: | 7.6% |
| 2032 Value Projection: | USD 45.5 Billion |
| Historical Data for: | 2019 to 2023 |
| No. of Pages: | 528 |
| Tables, Charts & Figures: | 838 |
| Segments covered: | Fuel, End Use, Capacity, Technology |
| Growth Drivers: |
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| Pitfalls & Challenges: |
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Frequently Asked Questions (FAQ) :
Combined Heat and Power (CHP) Market Scope
