Combined heat and power market to pass 480 GW

Worldwide revenue from industrial combined heat and power (CHP) will grow from $19.7 billion annually in 2013 to $29.8 billion in 2023, according to a new report from Navigant Research.

One of the most mature distributed generation segments, the industrial combined heat and power (CHP), or cogeneration, market represents slightly less than 6 percent of global installed electricity generating capacity.

Although growth in the industrial CHP market has stagnated in countries like the U.S. and Russia in recent years, the confluence of a number of drivers points to renewed interest in this proven technology platform across all regions.

“Deployed at small- or large-scale, extraction, processing, and manufacturing sites, cogeneration systems produce electricity while also capturing heat that would otherwise be wasted,” says Mackinnon Lawrence, principal research analyst with Navigant Research. “While currently installed industrial combined heat and power capacity is mostly concentrated in energy-consuming economies that have large industrial processing and manufacturing bases, growth in emerging markets, along with the expansion of refinery assets to serve these markets, represents an attractive opportunity.”

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