The energy scenario is changing throughout the world and governments globally, are making an attempt to make cost-effective use of existing resources along with, enabling the emergence of a low carbon economy. Micro CHP is a cost-effective and flexible low carbon solution that generates heat and electricity to potentially achieve lower carbon emissions as compared to any other conventional heating systems and grid electricity. This system can be used for both residential and commercial purposes. Domestic micro CHP is mainly powered by gas or LPG.
The major factors driving the micro CHP market include the need for low carbon emission technologies, its easy installation, and cost-effective performance over other low carbon emission technologies, and reducing electricity expenses along with, being an ideal product for boiler replacement.
Currently, residential micro CHP represents 76% of the total market share in terms of global micro CHP sales, followed by commercial at 24%. Among various regions of the micro CHP market, Asia-Pacific remains the dominant market.
Important technologies of micro CHP systems are as follows:
• Stirling engine
• Organic Rankine cycle engine
• Internal combustion engine
• Proton Exchange Membrane Fuel Cell (PEMFC)
• Solid Oxide Fuel Cell (SOFC)
The increase in energy demand and the depletion of conventional sources of energy have raised the importance of renewable sources. Currently, governments are allocating funds to various leading micro CHP companies to incentivize the development of new technologies. Recently, various new small size heat engines have been developed to facilitate the progress to micro-CHP systems. A micro CHP system reduces demands on transmission and distribution systems, enhances the availability of electricity and heat for consumers, and encourages consumer engagement with energy efficient technologies, among others.
Previously, the internal combustion engine technology held the major market share as most micro CHP systems installed were based on this technology. However, currently, SOFC and PEMFC hold the maximum market share.
Scope of the report: This study estimates the global market of micro CHP, by the end of 2019. This market research also provides a detailed qualitative and quantitative analysis of the global micro CHP market. This report provides a comprehensive review of major market drivers, restraints, opportunities, challenges, winning imperatives, and key issues pertaining the market.
On the basis of technology: The global micro CHP market is segmented on the basis of prominent technologies, such as engine-based and fuel-based, being used across the globe which include Stirling engine, Organic Rankine cycle engine, Internal combustion engine, PEMFC, and SOFC.
On the basis of application: Residential and commercial purposes
On the basis of geography: Asia-Pacific, Europe, and North America
Major companies with their market share and size have been covered for each region. This report also deals with market share by participants for the overall market and describes the competitive strategies adopted by these players. Market segmentation has been done on the basis of application. Leading players of the industry have also been profiled with their recent developments and other strategic industry activities. A few top players of the industry include Honda Power (Japan), BDR Thermea Group (The Netherlands), E.ON (Germany), Yanmar Co. Ltd. (Japan), The Viessmann Group (Germany), Vaillant (Germany), Ceramic Fuel Cells Limited (Australia), Marathon Engine Systems (U.S.), Flow Group (U.K.), Whisper Tech. (New Zealand), Topsoe Fuel Cell (Denmark), Qnergy (Israel), Cogen Microsystems (Australia), Microgen Engine Corporation Holding B.V. (The Netherlands), ENER-G (U.K) , Senertec Kraft Warme Energiesystems GMBH (Germany), Dantherm Power (Denmark), and Ceres Power Holdings Plc. (U.K.).