PUNE, India, February 5, 2016 /PRNewswire/ --
The report "Micro Combined Heat & Power (Micro CHP) Market by Type (Engine, Fuel Cell), Technology (Internal Combustion Engine, Rankine Cycle Engine, Stirling Engine, PEMFC, SOFC), Application (Residential, Commercial), & Region - Global Forecast to 2020", published by MarketsandMarkets, Micro CHP Market is expected to grow from an estimated USD 2.29 Billion in 2015 to USD 4.44 Billion by 2020, at a CAGR of 14.2%.
Browse 68 market data Tables and 44 Figures spread through 134 Pages and in-depth TOC on "Micro Combined Heat & Power (Micro CHP) Market"
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The market report defines and segments the global Micro CHP Market with an analysis and forecast of the market size.
Major factors, such as autonomous heat & electricity generation at a reduced cost, progressive government support (subsidies & policies), and reduction in carbon footprint are driving the market across the globe.
Fuel Cell - Biggest market by Type
Fuel cell-based micro CHP systems are the most widely used micro CHP units worldwide. Among the two major types of fuel cell-based MCHP systems, PEMFC (proton exchange membrane fuel cell) and SOFC (solid oxide fuel cell), PEMFC-based micro CHP held the highest share in 2014, due to its low heat-to-power ratio and avoidance of thermal cycling. Fuel cell-based micro CHPs are preferable for continuous operation purposes. PEMFC-based micro CHP are mostly used for residential purposes.
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Asia-Pacific is the Dominant Market for Micro CHP
The Asia-Pacific is the largest market for micro CHP among other regions studied in this report. The Asia-Pacific will continue to dominate the Micro CHP Market, seeking micro CHP legislation and product testing projects and research, which has begun in Japan and South Korea. Japan is the market leader in this domain, especially in fuel cell technology. The Japanese government provides subsides for the development of this green technology. The demand for micro CHP systems for residential as well as commercial purposes has led to the region's dominance in the market.
To provide an in-depth understanding of the competitive landscape, the report includes profiles of some of the leading players in Micro CHP Market such as Honda Power (Japan), Vaillant Group (Germany), Viessmann Group (Germany), Ceres Power Holdings Plc (U.K.), Yanmar Holdings Co. Ltd. (Japan), BDR Thermea Group (Netherlands), Dantherm Power (Denmark), and Solid Power (Denmark) among others. Dominant players are trying to penetrate developing and developed economies and adopting contracts & agreements strategy to increase market share.
Market share analysis by revenue for key companies is included in the report. The scope accordingly aids market participants to identify high growth markets and help managing key investment decisions. The report analyzes the market for Micro CHP units in the electrical power output range of 0.5 kW to 5.5 kW. It strategically analyzes micro markets with respect to growth trends, future prospects, and contribution to the total market covered by technology, type, application, and region.
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