London, 23 June 2015 – Technavio has published a new report on the global combined heat and power market for commercial buildings, which is expected to grow at a CAGR of nearly 8% from 2015-2019.
About the Report
Combined heat and power (CHP) technology is a clean approach to generating power and thermal energy from a single fuel source. The average efficiency of conventional fossil fuel power plants is around 40%, while CHP systems typically achieve an efficiency of around 80%.
“The higher efficiency of a CHP system can be attributed to its ability to recover the heat dissipated during power generation or other industrial processes, such as heating or cooling,” says Faisal Ghaus, Vice President of Technavio.
The new report also emphasizes the growing need to reduce dependency on fossil fuels while maintaining balance between demand and supply, which has led to the development of distributed energy generation.
“Distributed energy generation sources like CHP technology do not require cable lines, as the point of generation and consumption is the same. This will result in increased adoption of CHP systems.”
Market Scope and Calculation of Market Size
The new Technavio report covers the present scenario and growth prospects of the global combined heat and power market for commercial buildings for 2015-2019. A detailed study of the feedstock segmentation has been provided, along with the installed units and growth patterns.
Key Information Covered in the Report:
Key Vendors:
- GE Power & Water
- Wärtsilä Corp
Market Growth Drivers:
- Higher efficiency of CHP systems
- For a full detailed list, view our report.
Market Challenges:
- High initial costs
- For a full detailed list, view our report.
Market Trends:
- Adoption of distributed energy
- For a full detailed list, view our report.
https://www.technavio.com/%3Cp%3E%3Ca%20href%3D%22http%3A//www.technavio….
