London, 07 August 2014: TechNavio, the independent tech-focused global research firm, has published a report on the Global Micro Combined Heat and Power Market 2014-2018, which is expected to grow at a CAGR of 37.7 percent during the forecast period of 2013-2018.
Currently, ICE-based micro-CHP systems dominate the Global Micro-CHP market with the largest number of installations in Japan. The growth rate for this technology is expected to increase until 2015, after which the other technologies are expected to grow faster resulting in lower growth rates for ICE-based micro-CHP systems.
Key Market Drivers
- Increased Government Support
- Reduced GHG Emissions
- Need for Grid Independence
Key Market Trends
- Increased Micro-CHP Contribution toward Smart Energy
- Rapid Growth of the Micro-CHP market in UK and US
- Reduction in Electricity Bills
“The micro-CHP units provide a constant power supply that is independent of the electricity grid and, as a result, free from any power outages,” says Faisal Ghaus, Vice President of TechNavio.
To define the market circumstances in the next 3-4 years, TechNavio analysts have conducted in-depth analysis of the impact of market drivers, challenges and trends featuring data on product segmentations, vendor shares, growth rate by revenue and an evaluation of the different buying criteria in the order of importance.
https://www.technavio.com/%3Cp%3EIf%20you%20are%20interested%20in%20more%…
