About this market
Several favorable government initiatives will drive the CHP market in the forthcoming years. Governments across the globe are putting forth regulations for increasing the adoption of CHP for reducing the GHG emissions and improving the efficiencies of power-generating systems. These regulations have been supporting the use of CHP due to its cost-effective reduction in GHG emissions and improved fuel efficiencies, thus, leading to the CHP market growth throughout the forecast period. analysts have predicted that the combined heat and power market will register a CAGR of close to 3% by 2023.
Market Overview
Economic and environmental benefits
One of the growth drivers of the global combined heat and power market is the economic and environmental benefits. The rising demand for energy and the environmental and economic benefits of using CHP are expected to propel the growth of the global combined heat and power market during the forecast period.
Challenges associated with CHP installation
One of the challenges in the growth of the global combined heat and power market is the challenges associated with CHP installation. The lack of awareness raises concerns over site permissions required for developing CHP plants, which may restrict the growth of the market.
For the detailed list of factors that will drive and challenge the growth of the combined heat and power market during 019-2023, view our report.
Competitive Landscape
The market appears to be moderately fragmented and with the presence of several market players. This market research report will help clients identify new growth opportunities and design unique growth strategies by providing a comprehensive analysis of the market’s competitive landscape and offering information on the products offered by companies.