Report Code : CVMI24071681 | Published Date : March 12, 2025
The Combined Heat and Power (CHP) Market is experiencing significant growth, driven by increasing demand for energy-efficient power solutions, a rise in the adoption of decentralized energy systems, and government policies that promote cogeneration technologies. Valued at USD XX billion in 2019, the market reached USD XX billion in 2023 and is projected to grow at a CAGR of XX% from 2024 to 2031, with expectations to attain USD XX billion by 2031
Combined Heat & Power (CHP) Key Market Insights
CHP systems generate electricity and thermal energy simultaneously, maximizing energy efficiency and reducing carbon emissions. The industry is expanding with the adoption of fuel-flexible CHP, AI-driven heat optimization, and district heating solutions.
Combined Heat & Power (CHP) Growth Drivers
- Increasing Demand for Energy-Efficient and Low-Carbon Power Solutions – Industries and commercial sectors are investing in CHP to lower energy costs and minimize emissions emissions.
- Advancements in Natural Gas and Biomass-Fueled CHP Technologies – The growth of fuel-flexible CHP, hydrogen-powered cogeneration, and hybrid CHP systems is accelerating growth.
- Government Incentives and Regulatory Policies Supporting CHP – Financial incentives and low-carbon energy mandates drive the adoption of cogeneration.
- Expansion of Industrial and District Heating CHP Systems – The increasing use of combined heat and power for urban heating networks and industrial applications is fueling demand.
Combined Heat & Power (CHP) Regional Trends
- North America leads because of government incentives for CHP deployment and district energy expansion.
- Europe is advancing with EU-wide decarbonization policies and robust district heating investments.
- The Asia-Pacific region is experiencing rapid growth, fueled by urbanization and a demand for decentralized energy generation.
- Latin America and MEA are emerging markets that benefit from the expansion of industrial cogeneration and renewable-powered combined heat and power (CHP) projects.
ClearView Market Insights Analysis;
The CHP market is poised for ongoing expansion, fueled by rising energy efficiency requirements, government-supported sustainability initiatives, and growing investments in cogeneration technologies. Companies that invest in AI-driven CHP optimization, hybrid energy solutions, and large-scale CHP applications will lead this developing sector.
Reasons To Buy

Scope

Key Players
- General Electric Company
- Bosch Thermotechnology GmbH
- Siemens Energy AG
- Kawasaki Heavy Industries Ltd.
- Viessmann Werke Group GmbH & Co KG
- MAN Diesel & Turbo SE
- Centrica PLC
- Caterpillar Inc.
- Mitsubishi Electric Corporation
- Wärtsilä Oyj Abp
Global Combined Heat & Power Market Report
- 1. Global Combined Heat & Power Market Research Report
- 1.1 Study Objectives
- 1.2 Global Combined Heat & Power Market - Overview
- 1.3 Reason to Read This Report
- 1.4 Methodology and Forecast Analysis
- 2.1 Global Combined Heat & Power Market Research Report – Detailed Scope and Definitions
- 2.1.1 By Technology
- 2.1.2 By Fuel Type
- 2.1.3 By End User
- 2.1.4 By Capacity
- 2.1.5 By Region
- 3.1. Drivers - Macro-Economic Based, Supply Side, and Demand Side Drivers
- 3.2. Restraints – By Technology, By Fuel Type, By End User, By Capacity, By Country
- 3.3. Opportunities – By Technology, By Fuel Type, By End User, By Capacity, By Country
- 3.4. Trends – By Technology, By Fuel Type, By End User, By Capacity, By Country
- 3.5. PEST Analysis
- 3.6. Porters Five Rule Analysis
- 3.7. Company’s Share Analysis (CSA) by Region or By Country
- 3.8. Global Combined Heat & Power Market Research Report – DROTs Impact Analysis
- 4.1. Market Performance Review & Future Outlook: Assessing 2019 - 2023 and Predicting 2024 - 2031 Trends (USD Millions)
- 4.2. Annual Market Trend Assessment – Year-on-Year (YoY) Growth Analysis (%)
- 4.3. Incremental Market Value/Volume Opportunity between 2019 - 2023 and 2024 - 2031
- 4.4. Market Shares Analysis in Years - 2019, 2023, 2024 and 2031
- 5.1 Gas Turbines
- 5.1.1 Market Performance Review & Future Outlook: Assessing 2019 - 2023 and Predicting 2024 - 2031 Trends (USD Millions)
- 5.1.2 Annual Market Trend Assessment – Yearly Growth Observation (Y-O-Y)(%)
- 5.1.3 Incremental Market Value/Volume Opportunity between 2019 - 2023 and From 2024 to 2031
- 5.1.4 Market Shares Analysis in Years - 2019, 2023, 2024 and 2031
- 5.2 Steam Turbines
- 5.2.1 Market Performance Review & Future Outlook: Assessing 2019 - 2023 and Predicting 2024 - 2031 Trends (USD Millions)
- 5.2.2 Annual Market Trend Assessment – Yearly Growth Observation (Y-O-Y)(%)
- 5.2.3 Incremental Market Value/Volume Opportunity between 2019 - 2023 and From 2024 to 2031
- 5.2.4 Market Shares Analysis in Years - 2019, 2023, 2024 and 2031
- 5.3 Reciprocating Engines
- 5.3.1 Market Performance Review & Future Outlook: Assessing 2019 - 2023 and Predicting 2024 - 2031 Trends (USD Millions)
- 5.3.2 Annual Market Trend Assessment – Yearly Growth Observation (Y-O-Y)(%)
- 5.3.3 Incremental Market Value/Volume Opportunity between 2019 - 2023 and From 2024 to 2031
- 5.3.4 Market Shares Analysis in Years - 2019, 2023, 2024 and 2031
- 5.4 Fuel Cells
- 5.4.1 Market Performance Review & Future Outlook: Assessing 2019 - 2023 and Predicting 2024 - 2031 Trends (USD Millions)
- 5.4.2 Annual Market Trend Assessment – Yearly Growth Observation (Y-O-Y)(%)
- 5.4.3 Incremental Market Value/Volume Opportunity between 2019 - 2023 and From 2024 to 2031
- 5.4.4 Market Shares Analysis in Years - 2019, 2023, 2024 and 2031
- 5.5 Micro Turbines
- 5.5.1 Market Performance Review & Future Outlook: Assessing 2019 - 2023 and Predicting 2024 - 2031 Trends (USD Millions)
- 5.5.2 Annual Market Trend Assessment – Yearly Growth Observation (Y-O-Y)(%)
- 5.5.3 Incremental Market Value/Volume Opportunity between 2019 - 2023 and From 2024 to 2031
- 5.5.4 Market Shares Analysis in Years - 2019, 2023, 2024 and 2031
- 6.1 Natural Gas
- 6.1.1 Market Performance Review & Future Outlook: Assessing 2019 - 2023 and Predicting 2024 - 2031 Trends (USD Millions)
- 6.1.2 Annual Market Trend Assessment – Yearly Growth Observation (Y-O-Y)(%)
- 6.1.3 Incremental Market Value/Volume Opportunity between 2019 - 2023 and From 2024 to 2031
- 6.1.4 Market Shares Analysis in Years - 2019, 2023, 2024 and 2031
- 6.2 Coal
- 6.2.1 Market Performance Review & Future Outlook: Assessing 2019 - 2023 and Predicting 2024 - 2031 Trends (USD Millions)
- 6.2.2 Annual Market Trend Assessment – Yearly Growth Observation (Y-O-Y)(%)
- 6.2.3 Incremental Market Value/Volume Opportunity between 2019 - 2023 and From 2024 to 2031
- 6.2.4 Market Shares Analysis in Years - 2019, 2023, 2024 and 2031
- 6.3 Biomass
- 6.3.1 Market Performance Review & Future Outlook: Assessing 2019 - 2023 and Predicting 2024 - 2031 Trends (USD Millions)
- 6.3.2 Annual Market Trend Assessment – Yearly Growth Observation (Y-O-Y)(%)
- 6.3.3 Incremental Market Value/Volume Opportunity between 2019 - 2023 and From 2024 to 2031
- 6.3.4 Market Shares Analysis in Years - 2019, 2023, 2024 and 2031
- 6.4 Oil
- 6.4.1 Market Performance Review & Future Outlook: Assessing 2019 - 2023 and Predicting 2024 - 2031 Trends (USD Millions)
- 6.4.2 Annual Market Trend Assessment – Yearly Growth Observation (Y-O-Y)(%)
- 6.4.3 Incremental Market Value/Volume Opportunity between 2019 - 2023 and From 2024 to 2031
- 6.4.4 Market Shares Analysis in Years - 2019, 2023, 2024 and 2031
- 6.5 Others
- 6.5.1 Market Performance Review & Future Outlook: Assessing 2019 - 2023 and Predicting 2024 - 2031 Trends (USD Millions)
- 6.5.2 Annual Market Trend Assessment – Yearly Growth Observation (Y-O-Y)(%)
- 6.5.3 Incremental Market Value/Volume Opportunity between 2019 - 2023 and From 2024 to 2031
- 6.5.4 Market Shares Analysis in Years - 2019, 2023, 2024 and 2031
- 7.1 Industrial
- 7.1.1 Market Performance Review & Future Outlook: Assessing 2019 - 2023 and Predicting 2024 - 2031 Trends (USD Millions)
- 7.1.2 Annual Market Trend Assessment – Yearly Growth Observation (Y-O-Y)(%)
- 7.1.3 Incremental Market Value/Volume Opportunity between 2019 - 2023 and From 2024 to 2031
- 7.1.4 Market Shares Analysis in Years - 2019, 2023, 2024 and 2031
- 7.2 Commercial
- 7.2.1 Market Performance Review & Future Outlook: Assessing 2019 - 2023 and Predicting 2024 - 2031 Trends (USD Millions)
- 7.2.2 Annual Market Trend Assessment – Yearly Growth Observation (Y-O-Y)(%)
- 7.2.3 Incremental Market Value/Volume Opportunity between 2019 - 2023 and From 2024 to 2031
- 7.2.4 Market Shares Analysis in Years - 2019, 2023, 2024 and 2031
- 7.3 Residential
- 7.3.1 Market Performance Review & Future Outlook: Assessing 2019 - 2023 and Predicting 2024 - 2031 Trends (USD Millions)
- 7.3.2 Annual Market Trend Assessment – Yearly Growth Observation (Y-O-Y)(%)
- 7.3.3 Incremental Market Value/Volume Opportunity between 2019 - 2023 and From 2024 to 2031
- 7.3.4 Market Shares Analysis in Years - 2019, 2023, 2024 and 2031
- 7.4 Utilities
- 7.4.1 Market Performance Review & Future Outlook: Assessing 2019 - 2023 and Predicting 2024 - 2031 Trends (USD Millions)
- 7.4.2 Annual Market Trend Assessment – Yearly Growth Observation (Y-O-Y)(%)
- 7.4.3 Incremental Market Value/Volume Opportunity between 2019 - 2023 and From 2024 to 2031
- 7.4.4 Market Shares Analysis in Years - 2019, 2023, 2024 and 2031
- 8.1 Up to 10 MW
- 8.1.1 Market Performance Review & Future Outlook: Assessing 2019 - 2023 and Predicting 2024 - 2031 Trends (USD Millions)
- 8.1.2 Annual Market Trend Assessment – Yearly Growth Observation (Y-O-Y)(%)
- 8.1.3 Incremental Market Value/Volume Opportunity between 2019 - 2023 and From 2024 to 2031
- 8.1.4 Market Shares Analysis in Years - 2019, 2023, 2024 and 2031
- 8.2 10-150 MW
- 8.2.1 Market Performance Review & Future Outlook: Assessing 2019 - 2023 and Predicting 2024 - 2031 Trends (USD Millions)
- 8.2.2 Annual Market Trend Assessment – Yearly Growth Observation (Y-O-Y)(%)
- 8.2.3 Incremental Market Value/Volume Opportunity between 2019 - 2023 and From 2024 to 2031
- 8.2.4 Market Shares Analysis in Years - 2019, 2023, 2024 and 2031
- 8.3 151-300 MW
- 8.3.1 Market Performance Review & Future Outlook: Assessing 2019 - 2023 and Predicting 2024 - 2031 Trends (USD Millions)
- 8.3.2 Annual Market Trend Assessment – Yearly Growth Observation (Y-O-Y)(%)
- 8.3.3 Incremental Market Value/Volume Opportunity between 2019 - 2023 and From 2024 to 2031
- 8.3.4 Market Shares Analysis in Years - 2019, 2023, 2024 and 2031
- 8.4 Above 300 MW
- 8.4.1 Market Performance Review & Future Outlook: Assessing 2019 - 2023 and Predicting 2024 - 2031 Trends (USD Millions)
- 8.4.2 Annual Market Trend Assessment – Yearly Growth Observation (Y-O-Y)(%)
- 8.4.3 Incremental Market Value/Volume Opportunity between 2019 - 2023 and From 2024 to 2031
- 8.4.4 Market Shares Analysis in Years - 2019, 2023, 2024 and 2031
- 9.1 North America
- 9.1.1 Market Performance Review & Future Outlook: Assessing 2019 - 2023 and Predicting 2024 - 2031 Trends (USD Millions)
- 9.1.2 Annual Market Trend Assessment – Yearly Growth Observation (Y-O-Y)(%)
- 9.1.3 Incremental Market Value/Volume Opportunity between 2019 - 2023 and From 2024 to 2031
- 9.1.4 Market Shares Analysis in Years - 2019, 2023, 2024 and 2031
- 9.2 Europe
- 9.2.1 Market Performance Review & Future Outlook: Assessing 2019 - 2023 and Predicting 2024 - 2031 Trends (USD Millions)
- 9.2.2 Annual Market Trend Assessment – Yearly Growth Observation (Y-O-Y)(%)
- 9.2.3 Incremental Market Value/Volume Opportunity between 2019 - 2023 and From 2024 to 2031
- 9.2.4 Market Shares Analysis in Years - 2019, 2023, 2024 and 2031
- 9.3 Asia-Pacific
- 9.3.1 Market Performance Review & Future Outlook: Assessing 2019 - 2023 and Predicting 2024 - 2031 Trends (USD Millions)
- 9.3.2 Annual Market Trend Assessment – Yearly Growth Observation (Y-O-Y)(%)
- 9.3.3 Incremental Market Value/Volume Opportunity between 2019 - 2023 and From 2024 to 2031
- 9.3.4 Market Shares Analysis in Years - 2019, 2023, 2024 and 2031
- 9.4 Latin America
- 9.4.1 Market Performance Review & Future Outlook: Assessing 2019 - 2023 and Predicting 2024 - 2031 Trends (USD Millions)
- 9.4.2 Annual Market Trend Assessment – Yearly Growth Observation (Y-O-Y)(%)
- 9.4.3 Incremental Market Value/Volume Opportunity between 2019 - 2023 and From 2024 to 2031
- 9.4.4 Market Shares Analysis in Years - 2019, 2023, 2024 and 2031
- 9.5 Middle East & Africa
- 9.5.1 Market Performance Review & Future Outlook: Assessing 2019 - 2023 and Predicting 2024 - 2031 Trends (USD Millions)
- 9.5.2 Annual Market Trend Assessment – Yearly Growth Observation (Y-O-Y)(%)
- 9.5.3 Incremental Market Value/Volume Opportunity between 2019 - 2023 and From 2024 to 2031
- 9.5.4 Market Shares Analysis in Years - 2019, 2023, 2024 and 2031
- 9.6 Global Combined Heat & Power Market - Opportunity Analysis Index, By Technology, By Fuel Type, By End User, By Capacity, and Region, 2024 - 2031
- 10.1 By Technology Analysis 2019 - 2023 and Forecast, 2024 - 2031 by Market Assessment (USD Mn), Yearly Growth Rate (%), and Market Presence (%)
- 10.1.1 Gas Turbines
- 10.1.2 Steam Turbines
- 10.1.3 Reciprocating Engines
- 10.1.4 Fuel Cells
- 10.1.5 Micro Turbines
- 10.2.1 Natural Gas
- 10.2.2 Coal
- 10.2.3 Biomass
- 10.2.4 Oil
- 10.2.5 Others
- 10.3.1 Industrial
- 10.3.2 Commercial
- 10.3.3 Residential
- 10.3.4 Utilities
- 10.4.1 Up to 10 MW
- 10.4.2 10-150 MW
- 10.4.3 151-300 MW
- 10.4.4 Above 300 MW
- 10.5.1 United States
- 10.5.2 Canada
10.7 Regional Trends Analysis
10.8 North America Global Combined Heat & Power Market Research Report - Company Profiles- 10.8.1 Company 1 (United States)
- 10.8.2 Company 2 (Canada)
- 10.8.3 Company 3 (Canada)
- 11.1 By Technology Analysis 2019 - 2023 and Forecast, 2024 - 2031 by Market Assessment (USD Mn), Yearly Growth Rate (%), and Market Presence (%)
- 11.1.1 Gas Turbines
- 11.1.2 Steam Turbines
- 11.1.3 Reciprocating Engines
- 11.1.4 Fuel Cells
- 11.1.5 Micro Turbines
- 11.2.1 Natural Gas
- 11.2.2 Coal
- 11.2.3 Biomass
- 11.2.4 Oil
- 11.2.5 Others
- 11.3.1 Industrial
- 11.3.2 Commercial
- 11.3.3 Residential
- 11.3.4 Utilities
- 11.4.1 Up to 10 MW
- 11.4.2 10-150 MW
- 11.4.3 151-300 MW
- 11.4.4 Above 300 MW
- 11.5.1 Germany
- 11.5.2 United Kingdom
- 11.5.3 France
- 11.5.4 Spain
- 11.5.5 Italy
- 11.5.6 Russia
- 11.5.7 Netherlands
- 11.5.8 Poland
- 11.5.9 Rest of Europe
11.7 Regional Trends Analysis
11.8 Europe Global Combined Heat & Power Market Research Report - Company Profiles- 11.8.1 Company 1 (Germany)
- 11.8.2 Company 2 (United Kingdom)
- 11.8.3 Company 3 (United Kingdom)
- 12.1 By Technology Analysis 2019 - 2023 and Forecast, 2024 - 2031 by Market Assessment (USD Mn), Yearly Growth Rate (%), and Market Presence (%)
- 12.1.1 Gas Turbines
- 12.1.2 Steam Turbines
- 12.1.3 Reciprocating Engines
- 12.1.4 Fuel Cells
- 12.1.5 Micro Turbines
- 12.2.1 Natural Gas
- 12.2.2 Coal
- 12.2.3 Biomass
- 12.2.4 Oil
- 12.2.5 Others
- 12.3.1 Industrial
- 12.3.2 Commercial
- 12.3.3 Residential
- 12.3.4 Utilities
- 12.4.1 Up to 10 MW
- 12.4.2 10-150 MW
- 12.4.3 151-300 MW
- 12.4.4 Above 300 MW
- 12.5.1 China
- 12.5.2 Japan
- 12.5.3 India
- 12.5.4 South Korea
- 12.5.5 Australia & NZ
- 12.5.6 ASEAN
- 12.5.7 Rest of Asia-Pacific
12.7 Regional Trends Analysis
12.8 Asia-Pacific Global Combined Heat & Power Market Research Report - Company Profiles- 12.8.1 Company 1 (China)
- 12.8.2 Company 2 (Japan)
- 12.8.3 Company 3 (Japan)
- 13.1 By Technology Analysis 2019 - 2023 and Forecast, 2024 - 2031 by Market Assessment (USD Mn), Yearly Growth Rate (%), and Market Presence (%)
- 13.1.1 Gas Turbines
- 13.1.2 Steam Turbines
- 13.1.3 Reciprocating Engines
- 13.1.4 Fuel Cells
- 13.1.5 Micro Turbines
- 13.2.1 Natural Gas
- 13.2.2 Coal
- 13.2.3 Biomass
- 13.2.4 Oil
- 13.2.5 Others
- 13.3.1 Industrial
- 13.3.2 Commercial
- 13.3.3 Residential
- 13.3.4 Utilities
- 13.4.1 Up to 10 MW
- 13.4.2 10-150 MW
- 13.4.3 151-300 MW
- 13.4.4 Above 300 MW
- 13.5.1 Brazil
- 13.5.2 Mexico
- 13.5.3 Argentina
- 13.5.4 Peru
- 13.5.5 Colombia
- 13.5.6 Rest of Latin America
13.7 Regional Trends Analysis
13.8 Latin America Global Combined Heat & Power Market Research Report - Company Profiles- 13.8.1 Company 1 (Brazil)
- 13.8.2 Company 2 (Mexico)
- 13.8.3 Company 3 (Mexico)
- 14.1 By Technology Analysis 2019 - 2023 and Forecast, 2024 - 2031 by Market Assessment (USD Mn), Yearly Growth Rate (%), and Market Presence (%)
- 14.1.1 Gas Turbines
- 14.1.2 Steam Turbines
- 14.1.3 Reciprocating Engines
- 14.1.4 Fuel Cells
- 14.1.5 Micro Turbines
- 14.2.1 Natural Gas
- 14.2.2 Coal
- 14.2.3 Biomass
- 14.2.4 Oil
- 14.2.5 Others
- 14.3.1 Industrial
- 14.3.2 Commercial
- 14.3.3 Residential
- 14.3.4 Utilities
- 14.4.1 Up to 10 MW
- 14.4.2 10-150 MW
- 14.4.3 151-300 MW
- 14.4.4 Above 300 MW
- 14.5.1 Saudi Arabia
- 14.5.2 UAE
- 14.5.3 South Africa
- 14.5.4 Egypt
- 14.5.5 Israel
- 14.5.6 Rest of Middle East and Africa
14.7 Regional Trends Analysis
14.8 Middle East & Africa Global Combined Heat & Power Market Research Report - Company Profiles- 14.8.1 Company 1 (Saudi Arabia)
- 14.8.2 Company 2 (UAE)
- 14.8.3 Company 3 (UAE)
- 15.1 Strategic Dashboard of Top Market Players
15.2 Company Profiles (Introduction, Financial Assessments, Portfolio of Offerings, Milestones and Achievements, Strategic Initiative, and SWOT Analysis)- 15.2.1 General Electric Company
- 15.2.2 Bosch Thermotechnology GmbH
- 15.2.3 Siemens Energy AG
- 15.2.4 Kawasaki Heavy Industries Ltd.
- 15.2.5 Viessmann Werke Group GmbH & Co KG
- 15.2.6 MAN Diesel & Turbo SE
- 15.2.7 Centrica PLC
- 15.2.8 Caterpillar Inc.
- 15.2.9 Mitsubishi Electric Corporation
- 15.2.10 Wärtsilä Oyj Abp
17. Principal Presumptions and Acronyms