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North America Micro CHP Market to Exceed $8 million By 2026

  • Published Date: April 22, 2020

As per the latest study published by Global Market Insights Inc., the North America Micro CHP Market is expected to surpass USD 8 Million by 2026. Growing adoption of captive power generation will drive the market growth.

North America micro CHP market will witness growth on account of rising investments toward smart grid networks coupled with favorable government norms toward expansion of renewable sector. Ongoing adoption of advanced cogeneration systems in line with replacement of traditional micro CHP systems will further drive the business scenario. Stringent regulatory norms toward the usage of fossil fuels as well as growing inclination toward renewable fuel adoption including biofuels & natural gas across micro cogeneration plants will propel the industry landscape.

Growing concerns toward GHG emissions coupled with favorable government policies will boost the micro CHP market growth

Increasing investments toward smart infrastructure and renewable energy generation across residential and commercial sectors will drive the North America micro CHP market potential. In addition, ongoing government mandates toward energy loss minimization coupled with replacement of conventional plants with advanced technologies will fuel the product penetration. For instance, BDR Thermea, in 2019, introduced hydrogen powered compact boiler utilizing wind & solar energy, minimizing carbon emission up till 100% extent.

Browse key industry insights spread across 140 pages with 182 market data tables & 30 figures & charts from the report, “North America Micro CHP Market By Capacity (< 2 kW, 2 ≤ 10 kW, > 10 ≤ 50 kW), By Fuel (Natural Gas & LPG, Coal, Renewable Resources, Coal), By Prime Mover (Stirling Engine, Internal Combustion Engine, Fuel Cell), By Application (Residential {Space Heating/Cooling, Water Heating, Cooking, Lighting}, Commercial) Industry Analysis Report, Regional Outlook, Competitive Market Share & Forecast, 2020 – 2026” in detail along with the table of contents:

Rising energy demand across the residential sector will drive the North America micro CHP industry

Residential micro CHP exceeded an annual deployment of 1 MW in 2019. Increasing adoption of efficient heat and power generation systems across the residential sector will stimulate the product deployment. In addition, stringent government regulation toward building emissions along with growing efforts to minimize power expenses will propel the industry outlook.

Refurbishment and replacement of conventional boilers to reduce GHG emissions coupled with rising adoption of efficient power generation systems will boost the North America micro CHP market outlook.

Increasing investments toward research and development sector will drive the product portfolio

High operational ability, improved efficiency and enhanced product life cycle are some major parameters which will drive the product demand. Rising deployment of micro cogeneration units across residential infrastructure including space heating, lighting and cooking will drive the 2 ≤ 10 kW capacity based North America Micro CHP market. Moreover, ongoing research and development investments toward cogeneration system to increase electrical efficiency & minimize unit cost will further boost the North America micro CHP market growth.

Increasing deployment of micro CHP plants across the region will complement the business scenario

North America micro CHP market is estimated to witness growth on account of financial policies, state incentives, favorable resiliency initiatives and CHP-inclined environment regulations. However, ongoing COVID-19 outbreak across the region will undoubtedly restrain the adoption of these units in 2020. Furthermore, introduction of climate change technology platform as well as R&D programs to enhance integrated gasification cogeneration technology will positively influence the business scenario.

Eminent players operating across North America micro CHP industry consists of ENER-G Rudox, Yanmar, BDR Thermea, Marathon Engine Systems, AISIN SEIKI, Viessmann, Siemens, General Electric, 2G Energy AG, TEDOM, Veolia and Ballard Power system.

Authors: Ankit Gupta, Riya Gupta

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