Sellbyville, DE -- (SBWIRE) -- 02/26/2019 -- Global Micro Combined Heat and Power Market size will be driven by increasing demand for sustainable, reliable and cost effective technology for heat & electricity generation across commercial and residential sectors. Stringent government regulations coupled with efforts to minimize electricity expenses is set to encourage the product penetration. The European Commission aims to reduce GHG emissions by around 40% by 2030, in comparison to the 1990 levels.

Micro Combined Heat and Power Market will surpass an annual installation of 3 GW by 2024. Rising awareness and measures toward deployment of renewable technologies with an aim to maintain clean energy supply along with reduction of carbon footprints is set to drive the product installation. Introduction of directives and incentives comprising subsidies, tax reduction policies and feed in tariff will positively impact the micro cogeneration systems demand.

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Stirling engine micro combined heat and power market will grow by 2024. Rising demand for the systems in residential sector owing to their functionality in low power range is set to propel the product penetration. Low gas emissions, less maintenance requirement and operational flexibility are few of the features predicted to complement the business landscape.

>2 ? 10 kW micro combined heat and power market is set to grow on account of existing expansion of cogeneration units across light commercial & tertiary buildings comprising hotels, multi complexes and business units. Increasing replacement of traditional boilers to reduce GHG pollution will further drive the product demand.

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Renewable micro combined heat and power market contributed over 14% to the global market share in 2017. Limited land availability for incinerators and landfills coupled with rising awareness & promotion of waste management will encourage the product penetration. Introduction of government initiatives pertaining the utilization of biomass is further set to complement the industry dynamics.

Micro CHP Market, By Fuel
- Natural Gas & LPG
- Coal
- Renewable Resources
- Oil
- Others

Commercial micro combined heat and power market will grow on account of introduction of norms and codes toward green infrastructure. The Government of UK introduced the renewable heat incentive program that offers monetary assistance for renewable heat generation units across ss.

Micro CHP Market, By Prime Mover
- Stirling engine
- Internal combustion engine
- Fuel cells
- Others

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Germany micro combined heat and power market is projected to grow owing to government initiatives to promote the adoption of green technology coupled with rising demand for heating systems from residential and commercial application. The KWKG 2016 Act was initiated in 2016 to promote the deployment of CHP plant and has set a target to generate 110 TW hours electricity by 2020.

Key micro combined heat and power market players include: Yanmar, Marathon Engine Systems, Vaillant, Viessmann, BDR Thermea, ENER-G Rudox, 2G Energy AG, AISIN SEIKI, Samad Power, Siemens, General Electric, Aegis energy and Veolia.

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