Navigant Research: CHP to be worth $14 billion a year by 2024


The combined heat and power (CHP) market is expected to be worth $14 billion annually by 2024, this according to a report recently published by Navigant Research. The forecasted growth is thought to be due to the concerns of policymakers, utilities, and facility owners about grid reliability, electricity demand, greenhouse gas emissions.
“While the market as a whole is experiencing steady growth, CHP’s penetration into global building infrastructure has been minimal,” says Brett Feldman, senior research analyst with Navigant Research. “In 2015, globally, the technical potential of floor space that could be served by commercial CHP is estimated at 441 billion square feet—but only a fraction of this total can be realistically served due to the high upfront capital cost associated with these types of systems.”
In addition to the high upfront expense, additional conditions including high spark spreads, thermal requirements, and utility cooperation must be present for installed systems to be viable according to the report. As such, the majority of today’s installations are confined to developed areas such as the United States, Northern Europe, South Korea, and Japan.
The report, Combined Heat and Power for Commercial Buildings, analyzes the global market potential for commercial CHP systems for a range of building applications – hospitals, universities, hotels, casinos, airports, etc. – using technologies including turbines, reciprocating engines, and fuel cells. The report also provides in-depth assessments of leading countries for the manufacture and adoption of commercial CHP systems and the technologies utilized in such systems. Global market forecasts for system installments, installed capacity, average installation capacity size, and revenue extend through 2024. The report also examines the key industry players engaged in the global commercial CHP market. An Executive Summary of the report is available for free download on the Navigant Research website.

Subscribe to Power Engineering magazine

Did You Like this Article? Get All the Energy Industry News Delivered to Your Inbox

Subscribe to an email newsletter today at no cost and receive the latest news and information.

 Subscribe Now


Logistics Risk Management in the Transformer Industry

Transformers often are shipped thousands of miles, involving multiple handoffs,and more than a do...

Secrets of Barco UniSee Mount Revealed

Last year Barco introduced UniSee, a revolutionary large-scale visualization platform designed to...

The Time is Right for Optimum Reliability: Capital-Intensive Industries and Asset Performance Management

Imagine a plant that is no longer at risk of a random shutdown. Imagine not worrying about losing...

Going Digital: The New Normal in Oil & Gas

In this whitepaper you will learn how Keystone Engineering, ONGC, and Saipem are using software t...