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LONDON, GREATER LONDON, UNITED KINGDOM, June 27, 2025 /EINPresswire.com/ -- The global combined heat and power market size has seen impressive expansion in recent periods and the growth trajectory is set to continue, as informed by recent reports. Riding on the wave of energy efficiency goals, increased cooling, heating, paired with power applications, among other factors, the market size is projected to expand from $29.17 billion in 2024 to $31.01 billion in 2025. This increase represents a compound annual growth rate CAGR of 6.3% and signifies the importance and scale of the combined heat and power market in the global energy sphere.
What Is The Projected Future Growth Of The Combined Heat And Power Market Size?
Looking forward, the forecast for the combined heat and power market size continues to be optimistic. Propelled by transitions to low-carbon energy systems, smart grid integration, resilience planning in critical infrastructure, and increased support for micro-CHP in residential settings, the market size is expected to grow to $41.61 billion in 2029. This would translate to a compound annual growth rate CAGR of 7.6%.
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What Are The Key Drivers Propelling The Growth Of The Combined Heat And Power Market?
Key drivers of this projected growth are many; however energy efficiency stands out. As more sectors and industries focus on efficient use of energy resources to accomplish tasks and achieve outcomes with minimal energy waste, the combined heat and power market systems will increasingly come into focus. These systems, also known as cogeneration, produce electricity and capture waste heat to provide both electrical and thermal energy. Their significant efficiency, when compared to traditional methods of generating power, positions them as necessary tools in the push for global energy efficiency.
What Key Player Strategies Are Driving The Combined Heat And Power Market?
This combined heat and power market features numerous key industry players, including General Electric Company, Siemens AG, Veolia Environnement S.A., Wärtsilä Oyj Abp, 2G Energy AG, and Capstone Green Energy Corporation among others. Striving to gain and maintain a competitive edge, these companies have embarked on various strategies including the innovation of new and technologically advanced products, such as heat exchangers, thus boosting the potential and profitability of the combined heat and power market.
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How Is The Combined Heat And Power Market Segmented?
In terms of segmentation, the combined heat and power market consists of numerous categories:
1 By Fuel: Natural Gas, Coal, Biomass, Other Fuel
2 By Technology: Combined Cycle, Steam Turbine, Gas Turbine, Reciprocating Engine, Other Technologies
3 By Capacity: Up To 10 MW, 10-150 MW, 151-300 MW, Above 300 MW
4 By End-Use: Commercial, Industrial, Residential, Utilities, Other End-Uses
What Are The Regional Insights In The Combined Heat And Power Market?
Asia-Pacific region was the largest player in the combined heat and power market in 2024 and is projected to be the fastest-growing region during the forecast period. This and other insightful regional data including Western Europe, Eastern Europe, North America, South America, Middle East, and Africa, offer a global perspective on the trends and dynamics shaping the combined heat and power market.
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