Micro CHP Market size to exceed $13bn by 2024

Micro CHP Market size will surpass USD 13 Billion by 2024, as reported in the latest study by Global Market Insights, Inc.

Positive outlook toward changing climatic conditions, energy security along with government regulations to curb GHG emission will propel the micro combined heat and power market size. Growing deployment of sustainable energy technologies coupled with introduction of various mandates and norms toward green building codes will propel the business landscape. The U.S. EPA in 2018 introduced the International Green Construction Code to enhance the health and environment performance of building, structures and sites.

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Increasing demand for reliable, energy efficient and cost-effective systems for heat and electricity generation across residential and commercial buildings will stimulate the micro CHP market share. Volatile fossil fuel prices coupled with growing focus to reduce fossil fuel dependency are some of parameters enhancing the demand for energy efficient systems. Zero interest rate loan, tax rebate, and financial assistance are few incentives introduced by the regulators to promote the adoption of these systems which in turn will complement the business growth.

Europe micro combined heat and power market size, by fuel, 2017 & 2024 (USD Million)
Micro CHP Market

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The U.S. micro CHP market in 2017 was valued USD 700 thousand. Increasing demand for efficient and sustainable space heating and cooling solutions on account of accelerating investments toward the development of infrastructure sector will propel the product penetration. Favorable government measures to enhance the deployment of green technologies along with strict government norms pertaining to carbon emissions will further augment the industry dynamics.

>2 ≤ 10kW micro CHP market size is predicted to witness growth owing to emerging demand for continuous and reliable power supply from residential and commercial establishments. Demographic change, rising disposable income of individuals, strengthening purchasing power parity and improved living standards are some of key factors positively influencing the demand for electricity generation.

Browse key industry insights spread across 291 pages with 350 market data tables & 31 figures & charts from the report, “Micro Combined Heat and Power Market Size By Capacity (≤2 kW, >2≤10kW, >10≤50kW), Fuel (Natural Gas & LPG, Coal, Renewable Resources, Oil), By Prime Mover (Stirling Engine, Internal Combustion Engine, Fuel Cell), By Application {Residential (Space Heating/Cooling, Water Heating, Cooking, Lighting), Commercial (Educational Institutes, Office Buildings, Healthcare Building)}, Industry Analysis Report, Regional Outlook (U.S., Canada, Germany, UK, Italy, Ireland, Netherland, Japan, South Korea) Application Potential, Competitive Market Share & Forecast, 2018 - 2024” in detail along with the table of contents:


Residential micro CHP market is set to grow on account of increasing demand for retrofit and replacement of conventional boilers along with ongoing investment toward refurbishment and innovation across new establishments. Growing focus to save electricity bills along with shift in trend to improve living standards will further augment the industry landscape.

Fuel cell micro CHP market is anticipated to reach over 1 GW by 2024 Ability to minimize carbon dioxide emissions and reduce energy cost in residential sector are certain indispensable parameters driving the product demand. High electrical efficiency and low heat to power ratio are some of the features make its adoption preferable over others. Several programs including PACE have been introduced to promote the adoption of fuel cell across residential establishments.

Limited land availability for incinerators and landfills coupled with growing awareness toward waste management will augment the renewable resource micro combined heat and power product adoption. Favourable government incentives and initiatives to enhance the utilization of biomass will further propel the industry growth.

Key participants across micro combined heat and power market include. Yanmar, BDR Thermea, 2G Energy, VIESSMANN, General Electric, Siemens, Veolia, Vaillant, Marathon Engine System, Micro Turbine Technology, Ballard Power System, ENER-G Rudox, AISIN SEIKI, TEDOM, Samad Power.

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Micro Combined Heat and Power market research report includes in-depth coverage of the industry with estimates & forecast in terms of Units, MW and USD from 2013 to 2024, for the following segments:

Micro CHP Market, By Capacity

  • ≤ 2 kW
  • >2≤10kW
  • >10≤50kW

Micro CHP Market, By Fuel

  • Natural Gas & LPG
  • Coal
  • Renewable Resources
  • Oil
  • Others

Micro CHP Market, By Prime Mover

  • Stirling engine
  • Internal combustion engine
  • Fuel cells
  • Others

Micro CHP Market, By Application

  • Residential
    • Space heating/Cooling
    • Water Heating
    • Cooking
    • Lighting
  • Commercial
    • Educational Institutes
    • Office Buildings
    • Healthcare Building

The above information has been provided at a regional and country basis for the following:

  • North America
    • U.S.
    • Canada
  • Europe
    • Germany
    • UK
    • Italy
    • Ireland
    • Netherlands
  • Asia Pacific
    • Japan
    • South Korea
  • Rest of World

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