Bio CHP Market to Hit USD 3.54 Billion by 2028; Surging Investments in Industrial Infrastructure to Strengthen Market: Fortune Business Insights™

·8 min read

List of the Companies Profiled in the Market: 2G Energy AG (Germany), Wärtsilä (Finland), Enexor Energy LLC (U.S.), Fleetsolve (UK), Plant Engineering GmbH (Germany), Yanmar (Japan), Biomass Engineering Limited (Ireland), H3-CHP (Canada), Babcock & Wilcox (U.S).

Pune, India, June 24, 2021 (GLOBE NEWSWIRE) -- The global bio CHP market size is expected to reach USD 3.54 billion by 2028, exhibiting a CAGR of 4.8% between 2021 to 2028. The growing utilization of CHP units due to their reliability, efficiency, and cost-effectiveness will push the market growth during the forecast period, states Fortune Business Insights, in a report, titled “Bio CHP Market, 2021-2028.” The market size stood at USD 2.44 billion in 2020.

The outbreak of COVID-19 has led to the delay in various expansion projects of major companies, thus dwindling the growth of the market. For instance, in November 2020, Bert Energy GmbH, a German franchisor for Bert biogas systems, revealed that its Bert Mobil biogas demo plan has been rescheduled to be commissioned at Sri City Andhra Pradesh, India. The six months’ delay was due to the pandemic. The company stated that 80% of the work was due in March 2020 but was pushed due to the outbreak.

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Yanmar’s Partnership Agreement with KKU Group to Enhance Business Development

Yanmar, a leading Japanese diesel engine manufacturer, founded in Osaka, Japan, announced that it joined hands with Eschenfelder KKU Group, for the distribution, development, and production of gas engine heat pumps, cogeneration solutions, and chiller. The HVAC industry will use the development of these solutions. KKU Group is a leading company in engineering, designing, distributing, and installing cooling & heating solutions and energy-saving refrigeration. The company develops tailor-made solutions for its customers. The latest development will help Yanmar to reinforce its position and offer complete HVAC solutions for its clientele. It will also station KKU to benefit from the business expansion in the European region, which, in turn, will enable bio CHP market growth in the forthcoming years.

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Rising Energy Demands to Intensify Market

Energy has become an essential part of industrial operations across all domains. The rapidly expanding nations have led to high energy consumption, which, in turn, is fueling the need for bio CHP. The surging investments in industrial infrastructure can have an outstanding effect on the global market. The rising developments in the residential and commercial sectors will enable speedy expansion of the market. For instance, in September 2019, the U.S. Energy Information Administration projected that the total energy consumption is likely to expand by about 50% from 2018 to 2050. Moreover, the favorable government initiatives for the industrial sector can incite the bio CHP market share.

The Steam Turbine to Hold the Largest Share

Based on feedstock, the market can be segregated into food waste, plastic waste, agriculture waste, wood waste, animal waste, paper waste, and others.

Based on the prime mover, this industry can be broadly divided into majorly divided into the steam turbine, gas turbine, microturbine, IC engine, and stirling engine. The steam turbine is expected to hold a significant share due to its cost-effective installation and low-maintenance

Based on end-user, the global market for bio CHP is categorized into healthcare, hospitality, commercial buildings, airports, education institutes, recycling facilities, manufacturing industry, waste treatment plant, food & beverage, and others.

Geographically, the market is divvied across key regions such as North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa.

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Rising Popularity of Clean Energy Sources to Stimulate Growth in North America

  • The increasing electricity production to aid expansion of the market in North America

  • Rising investments in CHP plants will bolster growth in North Asia Pacific

  • Sustainable energy targets will push growth in Europe

  • Industrialization and urbanization will influence growth in the Middle East and Africa.

Partnerships and Mergers of Prominent Companies to Support Market

Various key companies are adoption strategies to establish their presence in the industry. For instance, 2G Energy AG, a German cogeneration systems producer, signed long-term contracts with other players to develop new technologies for CHP units with various fuels. In November 2019, the company announced an ink agreement with Rolls-Royce technology group to acquire gas-powered-generator systems for its cogeneration systems. The contract involves the delivery of 250-550 kW power systems by 2G energy. It will also include heat extraction technologies to be marketed under the MTU product and solution brand by Rolls-Royce.

Key Development:

February 2020: Enexor BioEnergy released a new bio cogeneration technology known as Bio-200 to provide efficient energy utilizing different types of feedstocks such as wood chips, agricultural waste, food waste, and animal waste, among many others.

The Report Lists the Main Companies in this Market:

  • Wärtsilä (Finland)

  • Fleetsolve (UK)

  • Plant Engineering GmbH (Germany)

  • Biomass Engineering Limited (Ireland)

  • H3-CHP (Canada)

  • Babcock & Wilcox (U.S)

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Table Of Content

  • Introduction

    • Research Scope

    • Market Segmentation

    • Research Methodology

    • Definitions and Assumptions

  • Executive Summary

  • Market Dynamics

    • Market Drivers

    • Market Restraints

    • Market Opportunities

  • Key Insights

    • Key Emerging Trends – For Major Countries

    • Latest Technological Advancement

    • Regulatory Landscape

    • Industry SWOT Analysis

    • Porters Five Forces Analysis

  • Qualitative Analysis – Impact of COVID-19

    • Impact of COVID-19 on the Bio CHP Market

    • Steps Taken by the Government to Overcome the Impact

    • Key Developments by the Industry Players in Response to COVID-19

    • Potential Opportunities and Challenges due to COVID-19 Outbreak

  • Global Bio CHP Market Analysis (USD Billion), Insights and Forecast, 2017-2028

    • Key Findings / Summary

    • Market Analysis, Insights and Forecast – By Feedstock

      • Food Waste

      • Plastic Waste

      • Agriculture Waste

      • Wood Waste

      • Animal Waste

      • Paper Waste

      • Others

    • Market Analysis, Insights and Forecast – By Prime Mover

      • Steam Turbine

      • Gas Turbine

      • Microturbine

      • IC Engine

      • Stirling Engine

    • Market Analysis, Insights and Forecast – By End-User

      • Healthcare

      • Hospitality

      • Commercial Buildings

      • Airports

      • Education Institutes

      • Recycling Facilities

      • Manufacturing Industry

      • Waste Treatment Plant

      • Food & Beverage

      • Others

    • Market Analysis, Insights and Forecast – By Region

      • North America

      • Europe

      • Asia Pacific

      • Latin America

      • Middle East & Africa

  • North America Bio CHP Market Analysis (USD Billion), Insights and Forecast, 2017-2028

    • Key Findings / Summary

    • Market Analysis, Insights and Forecast – By Feedstock

      • Food Waste

      • Plastic Waste

      • Agriculture Waste

      • Wood Waste

      • Animal Waste

      • Paper Waste

      • Others

    • Market Analysis, Insights and Forecast – By Prime Mover

      • Steam Turbine

      • Gas Turbine

      • Microturbine

      • IC Engine

      • Stirling Engine

    • Market Analysis, Insights and Forecast – By End-User

      • Healthcare

      • Hospitality

      • Commercial Buildings

      • Airports

      • Education Institutes

      • Recycling Facilities

      • Manufacturing Industry

      • Waste Treatment Plant

      • Food & Beverage

      • Others

TOC Continued…!

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Russia Gas Generator Market Size, Share and COVID-19 Impact Analysis, By Power Rating (Up to 100 kVA, 100-350 kVA, 350-750 kVA, 750-1000 kVA, 1000-2000 kVA, 2000-3000 kVA, and Above 3000 kVA), By End-user (Mining, Data Centers, Construction, Manufacturing, Tourism/Hospitality, Oil & Gas, Residential, Agricultural/Greenhouse, Water Treatment/Landfill, Power Utilities, Cold Storage Warehouse, and Others) and Forecast, 2021-2028

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