Dublin, Nov. 12, 2020 (GLOBE NEWSWIRE) -- The "Global Cogeneration Equipment Market (2020-2026): Market Forecast by Capacity, by Equipment,by Fuel Type,by Applications, by Regions, and Competitive Landscape" report has been added to ResearchAndMarkets.com's offering.
The global cogeneration equipment market is set to be driven by factors such as rising demand for a resilient power system, reduction in the use of conventional fuel types, and a shift towards sustainable energy generation. Global markets, especially the industrial domain, are deploying cogeneration systems on account of several benefits such as simultaneously generating both electricity and heat energy from a single fuel source over traditional energy generation methods furthermore reducing carbon footprint and increasing efficiency. However, the global cogeneration equipment market is expected to decline in 2020 on account of COVID-19 as many industrial projects in several regions such as the Asia Pacific and Middle East & Africa are on hold, thereby resulting in low demand for the product.
The Global Cogeneration Equipment Market is projected to grow at a CAGR of 3.6% during 2020-2026. The global electricity production from cogeneration declined from 14% in 1990 to around 10% in 2000. However, during the historical period 2016-2019, the demand for combined heat and power equipment witnessed significant growth owing to several strong measures taken by the governments globally, especially in the emerging nations.
The majority of the combined heat and power systems use natural gas as the prominent fuel type, which is a clean source of energy causing very low emission. However, with growing concern towards the reduction of greenhouse gas emission, demand for other renewable fuel types such as biogas, process waste, hydrogen, and biofuels are anticipated to rise in the coming years.
The Asia Pacific region is expected to exhibit the highest growth rate over the forecast period owing to the developing natural gas infrastructure in countries such as India, China, and South Korea. Rapidly rising energy demand coupled with the increasing power sector is expected to drive the cogeneration equipment market in the Asia Pacific region in the coming years. Further, the cogeneration equipment market in the Europe and Americas are anticipated to demonstrate significant growth over the forecast period due to increasing demand for district heating, cleaner and efficient source of energy generation in the years to come. Additionally, the Middle East and Africa region are expected to grow at a steady rate in the coming years due to the strong need to diversify the electricity sector combined with the high energy resources available in the region.
The report comprehensively covers the market by capacity, equipment, fuel type, applications, and regions including the Asia Pacific, the Middle East, and Africa, the Americas, and Europe. The report provides an unbiased and detailed analysis of global cogeneration equipment market trends, global cogeneration equipment market share, opportunities, high growth areas, and market drivers which would help the stakeholders to device and align their market strategies according to the current and future market dynamics.
Key Topics Covered:
1. Executive Summary
2. Introduction
3. Global Cogeneration Equipment Market Overview
4. Global Cogeneration Equipment Market Dynamics
5. Global Cogeneration Equipment Market Trends
6. Global Cogeneration Equipment Market Overview, By Regions
7. Global Cogeneration Equipment Market Overview, By Countries
8. Global Cogeneration Equipment Market - Key Performance Indicators
9. Global Cogeneration Equipment Market Overview - Opportunity Assessment
10. Global Cogeneration Equipment Market Overview - Competitive Landscape
11. Company Profiles
11.1. Caterpillar Inc.
11.2. Siemens AG
11.3. ABB Ltd.
11.4. Teksan
11.5. Cummins Inc.
11.6. General Electric
11.7. Rolls Royce Plc.
11.8. Kawasaki Heavy Industries
11.9. Mitsubishi Heavy Industries Group
11.10. Wartsila Corporation
12. Key Strategic Recommendations
For more information about this report visit https://www.researchandmarkets.com/r/6kebk0
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