The global cogeneration market will reach $2018.206 billion in 9

According to the latest report from Markets and Markets, the global cogeneration market will reach $20.
69 billion in 2018 and increase to $27.
01 billion by 2023, growing at a CAGR of 5.
48%
during the period.

The global cogeneration market will reach $20.
69 billion in 2018

The global market will continue to grow due to the growing demand for energy efficiency and government incentives and programs to
promote cogeneration projects.

By project capacity, projects above 30 MW will maintain the largest share

Projects above 300 MW consist of large coal, nuclear or natural gas power plants, with gas and steam turbines being the main enablers
.
The segment is primarily targeted at utility, district heating and cooling end users
.
This segment of the market will be driven by increasing natural gas power generation in the Asia-Pacific region, especially in China and South Korea
.
The phasing out of coal-fired power generation has led to the rise of
large-scale natural gas cogeneration projects.
The rapid demand for heat and steam in industry, as well as the need for urban heating and cooling, are driving the growth
of this segment.
The shale gas boom in North America is another driver of growth in the segment, with utility-scale natural gas power plants
being built in North America.

By end-user type, utilities, district heating and cooling sectors will dominate the market

The utility, district heating and cooling sector refers to the supply of thermal energy generated by central facilities, such as space heating or hot water heating, steam supply throughout a city or region, and chilled water
in industrial parks or through triple cooling.
Utilities can monetize heat generated by byproducts of power generation using cogeneration systems that add up to 80 percent in savings from high operational efficiency compared to 30 percent
for non-cogeneration equipment.
The utilities, district heating, and cooling segment market will be driven by regulations for utilities to improve energy efficiency, the need to reduce carbon emissions, and the cost savings offered by cogeneration systems, especially in Europe and Asia Pacific
.

By region, Asia Pacific will become a major market for cogeneration

The report analyzes
the market in 6 regions: North America, Europe, Asia Pacific, South America, Middle East and Africa.
The Asia-Pacific market is expected to lead the global cogeneration market
.
The increase in natural gas in the energy mix and the need for energy efficiency in countries such as China, South Korea, and India are driving the combined heat and power market
in the region.
The rise of emerging technologies such as distributed generation, fuel cells, and micro-cogeneration has also opened up new opportunities
for the region's development.

To gain insight into the competitive landscape, the report describes profiles of some of the top players in the market, including General Electric (US), Siemens (Germany), 2G Energy (Germany), Wärtsilä (Finland), Mitsubishi Hitachi Power Systems (Japan), FuelCell Energy (US) and Clark Energy (UK).

Leading companies are trying to understand the developing economy market and are adopting various strategies to increase their market share
.

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