The cogeneration equipment market comprises equipment such as engines & turbines, generators, boilers & heat recovery steam generators, and heat exchangers. Cogeneration equipment helps generate electricity and captures heat from the same fuel source. It offers significant advantages such as reduced operating costs due to fuel efficiency and lower emissions. The growing need for reliable power supply and efficient management of renewable resources is driving the demand for cogeneration systems worldwide.

The Global Cogeneration Equipment Market is estimated to be valued at US$ 30.48 billion in 2024 and is expected to exhibit a CAGR of 9.5% over the forecast period from 2024 to 2031.

Key Takeaways

Key players operating in the cogeneration equipment market are Mitsubishi Heavy Industries Ltd, Kawasaki Heavy Industries Ltd., Bosh Thermotechnology Limited, Innovate Steam Turbines, ANDRITZ Energy and Environment GmbH, 2G Energy AG, ABB Group, Aegis Energy Services Inc., BDR Thermea Group BV, Clarke Energy, Rolls Royce Plc, Siemens AG, Veolia, and General Electric.

The rising need for reliable Cogeneration Equipment Market Size for cogeneration equipment in industrial and commercial sectors. Mitsubishi Heavy Industries, with over 50 years of experience, is one of the global leaders in cogeneration equipment manufacturing.

With rapid industrialization and growth of emerging economies, the demand for power is growing steadily. Cogeneration offers an effective means to fulfill the growing need for electricity and heat in a sustainable manner. Additionally, rising awareness about environmental protection is pushing industries to adopt cogeneration systems to reduce emissions. The global cogeneration equipment market is expected to witness significant expansion in Asia Pacific and Latin America attributed to increasing industrialization and investments in power infrastructure in developing nations.

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