Combined heat and power market to pass 480 GW

Worldwide revenue from industrial combined heat and power (CHP) will grow from $19.7 billion annually in 2013 to $29.8 billion in 2023, according to a new report from Navigant Research.

One of the most mature distributed generation segments, the industrial combined heat and power (CHP), or cogeneration, market represents slightly less than 6 percent of global installed electricity generating capacity.

Although growth in the industrial CHP market has stagnated in countries like the U.S. and Russia in recent years, the confluence of a number of drivers points to renewed interest in this proven technology platform across all regions.

“Deployed at small- or large-scale, extraction, processing, and manufacturing sites, cogeneration systems produce electricity while also capturing heat that would otherwise be wasted,” says Mackinnon Lawrence, principal research analyst with Navigant Research. “While currently installed industrial combined heat and power capacity is mostly concentrated in energy-consuming economies that have large industrial processing and manufacturing bases, growth in emerging markets, along with the expansion of refinery assets to serve these markets, represents an attractive opportunity.”

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