Energia
Increase in Number of Renewable Energy Projects Fuels Demand for Cogeneration Equipment Market, Opines TMR
ALBANY, N.Y. , Sept. 7, 2021 /PRNewswire/ -- The concept of cogeneration includes simultaneous heat and electricity generation from a single fuel source, including biomass and natural gas. Gas turbine, steam turbine, reciprocating engine, and combined cycle gas turbine are some of the important technologies used in cogeneration equipment.
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While the global demand for energy is increasing consistently, the sources of fossil fuels are depleting. This factor is driving the need for alternate energy generation techniques such as cogeneration, thereby creating demand in the market.
While traditional systems offer 46% efficiency in power generation, the cogeneration systems deliver 77–81% efficiency. Moreover, cogeneration systems help in carbon emission reduction by up to 29% in comparison to traditional systems. As a result, there is significant growth in the adoption of these systems, which, in turn, is fueling market growth.
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Players in the global cogeneration market are entering into agreements with OEMs of different end-use industries. In addition, many companies are investing in research and product development activities.Several enterprises are focused on expanding their regional presence in different emerging economies, particularly in Asia Pacific . These efforts are expected to result into prodigious market expansion.
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The report profiles key players working in the cogeneration equipment market. Thus, the research document provides all important data including company overview, product portfolio, financial overview, recent developments, and business strategies of each player working in the market.
The list of key players in the cogeneration equipment market includes the following:
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Energy & Natural Resources
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