Cogeneration Equipment Market set to Exhibit
Impressive Growth owing to Increasing Energy Efficiency Measures

The cogeneration equipment market is estimated to generate huge energy savings
by producing both electricity and useful heat from a single fuel source.
Cogeneration, also known as combined heat and power (CHP), is an efficient
process that captures and utilizes heat that is rejected during conventional
power generation. Cogeneration systems can achieve efficiencies of around
80-90% compared to 45% for conventional separate generation of electrical and
thermal energy. Cogeneration equipment includes prime movers like gas turbines,
reciprocating engines, and steam turbines along with generators and heat
recovery systems. These systems find widespread applications in industries,
commercial buildings, and district heating systems to meet thermal and
electrical power requirements in an environment-friendly manner.

The
global cogeneration equipment market is estimated to be valued at US$ 30.48 Bn
in 2024 and is expected to exhibit a CAGR of 9.5% over the forecast period 2024
to 2031.



Key Takeaways



Key players operating in the cogeneration equipment market are Rolls-Royce plc,
Siemens, ABB, Baxi Group, Andritz Energy and Environment, BDR Thermea Group,
Mitsubishi Heavy Industries, Ltd., 2G Energy Inc., Clarke Energy Ltd., Capstone
Turbine Corporation, Innovative Steam Technology, Inc., Aegis Energy Services
Inc., Kawasaki Heavy Industries, Ltd, Enercon Industries, Yanmar, Naigai
Industries, Inc., Yokogawa Electric, Mitsubishi Power India Private Limited,
and Raj Process Equipments and Systems Pvt. Ltd.



The growing demand for energy efficiency measures from industrial and
commercial sectors is a key factor driving the Cogeneration
Equipment Market Demand  Industries
are focusing on reducing energy costs and emissions through the implementation
of cogeneration systems. Various government initiatives and policies offering
incentives for clean power generation using cogeneration are also fueling
market growth.



Technological advancements are playing a major role in increasing the adoption
of cogeneration. Manufacturers are developing high-efficiency cogeneration
systems with advanced control systems, remote monitoring capabilities, and
modular designs for easy installation and operation. The integration of
cogeneration equipment with renewable energy sources and energy storage is gaining
traction.

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