US Market Of (CHP) Systems Assessment and Key Insights Analyzed Till 2032

The global combined heat and power (CHP) systems market is anticipated to be valued at US$ 28,412.4 Million in 2022, forecast to grow at a CAGR of 4.7% to be valued at US$ 45,123.5 Million from 2022 to 2032. Growth is attributed to the increasing demand for electricity and power.

Cogeneration (also known as combined heat and power systems (CHP)) is a cluster of technologies primarily used for the concurrent generation of electricity and useful heat. This combined generation of heat and electricity is much more effective than the separate generation of electricity and useful heat in a way that CHP systems offer improved energy efficiency, reduced managing cost, low CO2 emission and others.

Combined Heat and Power (CHP) is a productive and clean way to deal with creating electric power and thermal power from a solitary fuel source. CHP produces power creation at or close to the end user’s site so that the heat released out of power generation can be utilized to meet the user’s heat necessities while the power produced meets all or a part of the site’s energy needs. Applications with consistent electricity and thermal energy demand are great monetary focuses for CHP deployment.

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Global CHP System market for Data Centre: Market Dynamics

Regions with high electricity costs are readily adopting CHP systems primarily to save on their energy cost to provide base load power and use such systems to provide absorption cooling for the facility. Moreover, government initiatives to install CHP systems in data centre facilities due to low CO2 emissions are also expected to increase its adoption rate thereby increasing the adoption of  CHP systems in data centres.

The low economic life of data centres IT equipment results in consumer reluctance towards the adoption of CHP systems for data centres since these systems have an equipment life of around 10-15 years in comparison to the economic life of IT equipment which is only 2-3 years.

Global CHP System market for Data Centre: Segmentation

The global CHP system market for data centres can be segmented on the basis of data centre types, facility size, installation type and region. By Datacenter types the market can be segmented into Telecoms, ISPs (Internet Service Providers), CoLos (Co-located server hosting facilities), server farms, corporate data centres, university/ national laboratories and others.

Based on the facility the market can be segmented into less than 200 sq. ft, 200-700 sq. ft, 700-1,200 sq. ft, 1,200-6,000 sq. ft and more than 6,000 sq. ft. Based on installation type global cogeneration systems market for data centres can be segmented into newly installed systems and retrofit systems. By region, the global CHP system market for data centres can be segmented into seven key regions namely North America, Latin America, Eastern Europe, Western Europe, Asia-Pacific Excluding Japan (APEJ), Middle East and Africa and Japan.

Global CHP System market for Data Centre: Key Players

Some of the major players identified across the CHP system market for a data centre include ENER-G, Korea Electric Power Corporation, National Grid plc, Exelon Corporation, NextEra Energy, Inc., Chubu Electric Power Company, American Electric Power Company, Inc. and others.

The research report presents a comprehensive assessment of the market and contains thoughtful insights, facts, historical data, and statistically supported and industry-validated market data. It also contains projections using a suitable set of assumptions and methodologies. The research report provides analysis and information according to categories such as market segments, geographies, types, technology and applications.

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