How To Handle Every Cogeneration Equipment Market Challenge With Ease Using These Report 2019

Overview of Cogeneration Equipment Market

Cogeneration or combined heat and power (CHP) is a process in which engines are used to generate electricity and harness the excess heat produced in the process simultaneously for industrial processes and residential heating. The heat that is normally wasted in conventional power generation can be recovered as useful energy by implementing cogeneration. Cogeneration equipment is primarily used in power generation and recovering heat.

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The global cogeneration equipment market has recorded significant research and development activities, which have resulted in new innovations and technologies. For instance, SmartCHP, a new EU research project, was launched under the co-ordination of the BTG Biomass Technology Group to develop a small-scale cogeneration engine that uses biomass to generate heat and electricity. It also involved European industrial companies, universities, and innovation experts. The development of fuel cell technology has also helped in minimizing the energy lost during the mechanical-to-electrical conversion of combustion process. It directly converts the chemical energy stored in natural gas or biomass into heat and power. A few companies are also using Big Data software to optimize the efficiency of combined heat and power (CHP) plants

There have been significant research and development activities happening to enhance cogeneration technology. In June 2019, a new EU research project called SmartCHP was launched by ten partners, including European industrial companies, universities, and innovation experts, under the coordination of BTG Biomass Technology Group. The new project aims to design an innovative small-scale cogeneration engine that uses biomass to produce heat and energy.

In July 2018, BMW Group used big data software to optimize the efficiency of CHP plants at its factory in Leipzig, Germany. The software, BoFiT, was developed by ProCom, a company based in Aachen in Germany. ProCom supplies daily forecasts for the optimal deployment of two CHP modules, each with a capacity of 3MW, and four boilers. Hence, innovation and technologies is expected to be a key trend in the global cogeneration equipment market to grow at a CAGR of 5.27% during the forecast period.

Top Cogeneration Equipment Companies Covered in this Market Research Report

The global cogeneration equipment market is fragmented. To help clients improve their market positions, this report provides an analysis of the market’s competitive landscape and offers information on the products offered by various companies. This cogeneration equipment market research report also includes information on the upcoming trends and challenges that will influence market growth. This will help companies create strategies to make most of the upcoming growth opportunities.

The report offers a detailed analysis of several leading cogeneration equipment manufacturers, including:

• 2G Energy AG
• AB Holding Spa
• General Electric Co.
• Mitsubishi Heavy Industries Ltd.
• Siemens AG
• Veolia Environnement SA

Cogeneration Equipment Market Segmentation Based on Type

• Reciprocating engines
• Gas turbines
• Steam turbines
• Others

The reciprocating engines segment will account for the highest cogeneration equipment market share. The increasing demand for energy efficiency in various industries and rising distributed power generation in APAC and North America are a few of the significant factors fueling the growth of the market segment. This report provides an accurate prediction of the contribution of all the segments to the growth of the cogeneration equipment market size.

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