Global Cogeneration Equipment Market to Grow at 7.6% During 2024-2032, Impelled by Rising Demand for Renewable Energy

December 10, 2021 | Energy & Mining

According to the latest report by IMARC Group, titled "Cogeneration Equipment Market Report by Fuel (Natural Gas, Biomass, Coal, and Others), Capacity (Up to 30 MW, 31MW-60 MW, 61 MW-100 MW), Technology (Reciprocating Engine, Steam Turbine, Combined Cycle Gas Turbine, Gas Turbine, and Others), Application (Commercial, Industrial, Residential), and Region 2024-2032," the global cogeneration equipment market size reached US$ 27.8 Billion in 2023. Cogeneration equipment is widely utilized to generate electrical and thermal energy from a single fuel source, which includes oil, natural gas, biomass, wood, coal, and waste heat. It consists of electric generators, gas and steam turbines, and heat recovery systems that assist in powering various appliances and machines, such as pumps, fans, refrigerators, dehumidifiers and steamers. These systems provide excellent efficiency while having a smaller carbon footprint when compared to other conventional power-generation systems since the process of cogeneration utilizes the heat circulating in a system that is otherwise lost in their traditional counterparts. The usage of waste products as an essential part of the system enables cogeneration equipment to significantly minimize the overall fuel consumption, thereby gaining widespread prominence among the end users.

Global Cogeneration Equipment Market Trends:

The global market is primarily driven by the increasing demand for renewable energy across the globe. Rising incidences of power outages and the growing dependency on electrical appliances have impelled the need for an uninterrupted power supply. Supported by an enhanced focus on sustainable development and the escalating depletion of fossil fuels, this has created a rising requirement for unconventional energy generation, wherein cogeneration equipment forms an indispensable component. Along with this, governments of numerous countries are taking initiatives to promote the use of clean energy and develop the overall infrastructure of renewable energy projects, which is expected to provide an impetus to the market growth. Furthermore, key players are continually engaging in research and development (R&D) activities to launch efficient tri- and quattro-power generation systems to enable the simultaneous production of three and more forms of energy. They are also integrating fuel cell technology with power and heat generation systems and advanced steam turbines with enhanced operational flexibility, which are gaining widespread popularity among the end users. On account of the aforementioned factors, the market is anticipated to grow at a CAGR of 7.6% during 2024-2032.

Market Summary:

  • On the basis of the fuel, the market has been divided into natural gas, biomass, coal and others.
  • Based on the capacity, the market has been classified into up to 30 MW, 31 MW - 60 MW and 61 MW - 100 MW.
  • On the basis of the technology, the market has been categorized into reciprocating engine, steam turbine, combined cycle gas turbine, gas turbine and others.
  • Based on the application, the market has been segregated into commercial, industrial and residential segments.
  • On the geographical front, the market has been segmented into Asia Pacific, Europe, North America, Middle East and Africa, and Latin America.
  • The competitive landscape of the market has been analyzed in the report with the detailed profiles of the key players. Some of these players include Kawasaki Heavy Industries, Ltd., Bosch Group, Innovative Steam Technologies Inc., Kohler Co., Mitsubishi Heavy Industries, Ltd., Wood PLC (Foster Wheeler AG), ANDRITZ AG, Siemens Aktiengesellschaft, 2G Energy AG, ABB Group, Aegis Energy, EDF Group, BDR Thermea Group B.V., Baxi Group, Capstone Turbine Corporation, and Rolls-Royce plc.
     

Report Scope:

Report Features Details
Base Year of the Analysis 2023
Historical Period 2018-2023
Forecast Period 2024-2032
Units US$ Billion
Segment Coverage Fuel, Capacity, Technology, Application, Region
Region Covered  Asia Pacific, Europe, North America, Latin America, Middle East and Africa
Companies Covered Kawasaki Heavy Industries, Ltd., Bosch Group, Innovative Steam Technologies Inc., Kohler Co., Mitsubishi Heavy Industries, Ltd., Wood PLC (Foster Wheeler AG), ANDRITZ AG, Siemens Aktiengesellschaft, 2G Energy AG, ABB Group, Aegis Energy, EDF Group, BDR Thermea Group B.V., Baxi Group, Capstone Turbine Corporation, and Rolls-Royce plc.
Customization Scope 10% Free Customization
Report Price and Purchase Option Single User License: US$ 3899
Five User License: US$ 4899
Corporate License: US$ 5899
Post-Sale Analyst Support 10-12 Weeks
Delivery Format PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request)


About Us:

IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.

IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.

Contact Us:

IMARC Group
Email: sales@imarcgroup.com
Phone No: (D) +91 120 433 0800 | www.imarcgroup.com 
Americas :- +1 631 791 1145 | Africa and Europe :- +44-753-713-2163

Need more help?

  • Speak to our experienced analysts for insights on the current market scenarios.
  • Include additional segments and countries to customize the report as per your requirement.
  • Gain an unparalleled competitive advantage in your domain by understanding how to utilize the report and positively impacting your operations and revenue.
  • For further assistance, please connect with our analysts.
Global Cogeneration Equipment Market to Grow at 7.6% During 2024-2032, Impelled by Rising Demand for Renewable Energy
Purchase options




Benefits of Customization

Personalize this research

Triangulate with your data

Get data as per your format and definition

Gain a deeper dive into a specific application, geography, customer, or competitor

Any level of personalization

Get in Touch With Us
UNITED STATES

Phone: +1-631-791-1145

INDIA

Phone: +91-120-433-0800

UNITED KINGDOM

Phone: +44-753-714-6104

Email: sales@imarcgroup.com

Client Testimonials

Aktive Services

IMARC made the whole process easy. Everyone I spoke with via email was polite, easy to deal with, kept their promises regarding delivery timelines and were solutions focused. From my first contact, I was grateful for the professionalism shown by the whole IMARC team. I recommend IMARC to all that need timely, affordable information and advice. My experience with IMARC was excellent and I can not fault it.

Read More
Greenfish S.A.

The IMARC team was very reactive and flexible with regard to our requests. A very good overall experience. We are happy with the work that IMARC has provided, very complete and detailed. It has contributed to our business needs and provided the market visibility that we required

Read More
Colruyt Group

We were very happy with the collaboration between IMARC and Colruyt. Not only were your prices competitive, IMARC was also pretty fast in understanding the scope and our needs for this project. Even though it was not an easy task, performing a market research during the COVID-19 pandemic, you were able to get us the necessary information we needed. The IMARC team was very easy to work with and they showed us that it would go the extra mile if we needed anything extra

Read More
KRISHAK BHARTI CO-OP LTD

Last project executed by your team was as per our expectations. We also would like to associate for more assignments this year. Kudos to your team.

Read More
Zee Media Corp. Ltd.

We would be happy to reach out to IMARC again, if we need Market Research/Consulting/Consumer Research or any associated service. Overall experience was good, and the data points were quite helpful.

Read More
Arabian Plastic Manufacturing Company Ltd.

The figures of market study were very close to our assumed figures. The presentation of the study was neat and easy to analyse. The requested details of the study were fulfilled. My overall experience with the IMARC Team was satisfactory.

Read More
Sumitomo Corporation

The overall cost of the services were within our expectations. I was happy to have good communications in a timely manner. It was a great and quick way to have the information I needed.

Read More
Hameln Rds

My questions and concerns were answered in a satisfied way. The costs of the services were within our expectations. My overall experience with the IMARC Team was very good.

Read More
Quality Consultants BV

I agree the report was timely delivered, meeting the key objectives of the engagement. We had some discussion on the contents, adjustments were made fast and accurate. The response time was minimum in each case. Very good. You have a satisfied customer.

Read More
TATA Advanced Systems Limited

We would be happy to reach out to IMARC for more market reports in the future. The response from the account sales manager was very good. I appreciate the timely follow ups and post purchase support from the team. My overall experience with IMARC was good.

Read More
Stax

IMARC was a good solution for the data points that we really needed and couldn't find elsewhere. The team was easy to work, quick to respond, and flexible to our customization requests.

Read More