Combined Heat and Power Market Size to Grow $39.2 billion by 2029 - - 0 views
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Almira Coyne on 22 Apr 24According to a research report "Combined Heat and Power Market by Prime Mover (Gas Turbine, Steam Turbine, Reciprocating Engine, Fuel Cell, Microturbine), Capacity (Up to 10 MW, 10-150 MW, 151-300 MW, Above 300 MW), Fuel, End User and Region - Global Forecast to 2029″, the Combined heat and power market is projected to reach USD 39.2 billion by 2029 from an estimated USD 30.4 billion in 2024, at a CAGR of 5.2% during the forecast period. The demand for combined heat and power (CHP) is growing due to its efficiency in generating electricity and capturing waste heat for heating or cooling purposes, reducing energy costs and emissions. It offers benefits like increased energy efficiency, lower operational costs, and enhanced grid resilience. CHP systems are used in various sectors including industrial facilities, commercial buildings, hospitals, universities, and residential complexes to meet energy needs sustainably.