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Micro CHP Market Analysis

  • Report ID: 5059
  • Published Date: Jun 22, 2023
  • Report Format: PDF, PPT

Micro CHP Market Analysis

Micro CHP Market Segmentation

Prime Mover (Fuel Cell, IC Engine, Stirling Engine)

The fuel cell segment is estimated to hold approximately 55% share of the global micro CHP market in the year 2035 by growing at a notable CAGR over the forecast period.  Fuel cells offer clean energy generation with minimal environmental impact. They generate only hydrogen and heat as a byproduct. Further by integrating fuel cells into micro CHP systems, the overall environmental impact can be reduced, contributing to cleaner and more sustainable energy generation. Furthermore, the rising demand for hydrogen energy will also drive the demand for fuel cell. The world's need for hydrogen increased by 5% to 94 Mt in 2021, owing mostly to increased activity in the chemical and refining industries. Furthermore, hydrogen usage in 2019 was 91 Mt. Micro CHP can play a significant role in hydrogen energy generation by utilizing hydrogen as a fuel source.

Fuel (Natural Gas & LPG, Renewable Resources, Hydrogen)

In 2035, the natural gas & LPG segment is likely to accumulate a significant share of around 40%. Owing to abundance and easy accessibility is increasing the use of natural gas and LPG in micro CHP systems. Moreover, natural gas is a highly energy-dense fuel, so when it is utilized in micro CJP systems, natural gas can be efficiently converted into electricity and heat, resulting in high overall energy efficiency. Micro CHP systems with natural gas fuel can achieve electrical effectiveness of over 30% and overall efficiencies exceeding 80%.

Our in-depth analysis of the global market includes the following segments:

   Capacity
  • Up to 2 KW
  • 2-10 KW
  • 10-50 KW

   Application
  • Residential
  • Commercial

   Prime Mover
  • Fuel Cell
  • IC Engine
  • Stirling Engine

   Fuel
  • Natural Gas & LPG
  • Renewable Resources
  • Hydrogen
Browse Key Market Insights with Data Illustration:

Author Credits:  Payel Roy, Dhruv Bhatia


  • Report ID: 5059
  • Published Date: Jun 22, 2023
  • Report Format: PDF, PPT

Frequently Asked Questions (FAQ)

Rising demand for clean sources of power, rising construction, and growing need for heating systems for the spaces are the major factors driving the market growth.

The market size of micro CHP is anticipated to attain a CAGR of approximately 7% over the forecast period, i.e., 2023 – 2035.

The major players in the market are YANMAR HOLDINGS Co., Ltd., General Electric, 2G Energy AG, SAMAD POWER LTD., Vaillant Group, Viessmann Manufacturing Company Inc., Axiom Energy Group, LLC., Micro Turbine Technology B.V., Alkaline Fuel Cell Power Corp., and BDR Thermea Group

The company profiles are selected based on the revenues generated from the product segment, the geographical presence of the company which determines the revenue generating capacity as well as the new products being launched into the market by the company.

The market is segmented by application, fuel, capacity prime mover, and by region.

The fuel cell segment is anticipated to garner the largest market size by the end of 2035 and display significant growth opportunities.

Unawareness about the benefits of the micro CHP, and its more expensive than other systems are estimated to be the growth hindering factors for the market expansion.

The market in the Asia Pacific region is projected to hold the largest market share by the end of 2035 and provide more business opportunities in the future.
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