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Europe Micro CHP Market size is expected to observe high growth through 2026

Author : Ronak Bora | Published Date : 2020-11-18 

Rising adoption of compact micro CHP units across commercial establishments comprising large complexes, healthcare buildings, and educational institutes is likely to impel Europe Micro CHP market outlook over the forthcoming years.

Europe micro CHP market will register commendable proceeds through 2026, stated a recent report by Global Market Insights, Inc.

Surging number of R&D investments by leading micro CHP manufacturers for the introduction of cost-effective, reliable, and efficient power generation units has been responsible for creating a high product demand in the region. Additionally, numerous resiliency initiatives, flagship programs, and state incentives inclined towards favorable cogeneration have also been instrumental in propelling Europe micro CHP industry expansion in the years to come.

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Rising applicability of CHP units across residential establishments to augment Europe micro CHP market size

Escalating operability of micro CHP systems across residential applications pertaining to lightning, water heating, and space heating is likely to boost less than 2 kW capacity Europe micro combined heat and power industry outlook.

SolidPower, a major industry player, introduced its BlueGen BG-15 fuel cell technology in 2018. Equipped with improved efficiency, the technology is capable of fulfilling the energy requirements of residential and commercial establishments.

Retrofitting and replacement of small sized conventional boilers for minimization of carbon emissions coupled with the current installation of efficient energy generation systems are additional aspects driving Europe micro CHP industry demand over the forthcoming years.

Germany to contribute a commendable share to Europe micro CHP market

Germany micro combined heat and power market is set to add a remarkable share to Europe micro CHP industry over the forthcoming years, cite reports. Surging customer preference towards the deployment of improved heating distribution networks has been one of the prominent drivers impelling industry growth over the estimated period.

Escalating deployment of residential power generation systems along with government norms favoring the installation of advanced CHP units will additionally drive Europe micro CHP market growth through the forecast period.

Escalating demand for decentralized power to push Europe micro CHP market size

Surging demand for heat generation and decentralized power coupled with the increasing number of installations of technologically advanced energy supply networks is likely to augment Europe micro CHP product demand.

High compatibility of micro CHP products with gas and liquid fuels for steady power generation will further impel industry outlook over the forecast period. Rising applicability of low GHG emission micro CHP units across commercial and residential infrastructure will also advance the growth of 2 kW – 10 kW capacity Europe micro CHP industry in the coming years.

Impact of COVID-19 to hinder Europe micro CHP industry expansion to a certain extent

Delay in project commissioning programs coupled with the reduction in manufacturing operations due to the impact of COVID-19 is likely to hamper industry expansion to a limited extent.

Numerous measures pertaining to compensation of the pandemic effect with enhanced operations in the region will, however, result in increased market growth through the last quarter of 2020.

In essence, rising strategic collaborations amongst prominent industry players in the region will drive Europe micro CHP industry outlook over the forthcoming years. Major players in Europe micro CHP market comprise Viessmann, 2G Energy AG, Yanmar, General Electric, Siemens, Marathon Engine Systems, Viessmann, Micro Turbine Technology, Vaillant, BDR Thermea, and AISIN SEIKI amongst others.

Browse key industry insights along with Full TOC @ https://www.graphicalresearch.com/table-of-content/1441/europe-micro-chp-market

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About Author

Ronak Bora

Ronak Bora

A graduate in Electronics Engineering, Ronak writes for fractovia and carries a rich experience in digital marketing, exploring how the online world works from a technical and marketing perspective. His other areas of interest include reading, music, and sport. [email protected] | https://twitter.com/RonakBora26

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