PRN: MarketsandMarkets: Global Micro CHP Market Annual Sales is Expected to Increase to $376.2 Million in 2011 and $636 Million in 2016
PRN: MarketsandMarkets: Global Micro CHP Market Annual Sales is Expected to Increase to $376.2 Million in 2011 and $636 Million in 2016.
MarketsandMarkets: Global Micro CHP Market Annual Sales is Expected to Increase to $376.2 Million in 2011 and $636 Million in 2016
DALLAS, October 18, 2011 /PRNewswire/ --
The report "Micro Combined Heat & Power (CHP) (Microgeneration) Market by Technology, Geography, Application, Regulation, Market Trends & Global Forecasts (2011Â -Â 2016)", as the name suggests, defines and segments the global micro CHP market with analysis and forecasts of sales, selling prices etc. It also identifies driving and restraining factors for the market with analysis of trends, opportunities, and challenges. The market is segmented and forecasted on the basis of major geographies: North America, Europe, and Asia-Pacific. The market is further segmented on the basis of application, geography and technology.
Browse more than 116 market data tables/figures spread across 264 pages and an in-depth TOC onÂ "Micro Combined Heat & Power Market(CHP) (Microgeneration) by Technology, Geography, Application, Regulation, Market Trends & Global Forecasts (2011Â -2016)"
Micro CHP systems are combined heat and power machines used mainly in residential and commercial buildings. These units are used to generate electricity and heat homes as well as water. Any unit with an electrical power output within the range of 0 KW to 5 KW has been considered a part of micro CHP in this report. The factors leading to increased interest in the micro CHP market include supportive government policies, reduced green house gas emissions, lower electricity expenses, and availability of advanced engines. In addition, these units are the ideal replacement products for the mature boiler technology. However, the market's potential is somewhat hindered by high prices of micro CHP units, consumer and utility resistance, and infrastructural issues.
The value of the global micro CHP annual sales market was around $320.4 million in 2010. In the years to come, the worth of annual sales is expected to increase to $376.2 million in 2011 and $636 million in 2016 at a CAGR of 11.1% during the period. New markets such as North America and selected European countries are also expected to begin to witness micro CHP sales by 2016. As economies of scale are leveraged and the product moves out of the laboratories and into the mass market, production costs are expected to fall. Due to the resulting fall in selling prices, the value market is expected to grow at a slower rate than the volume market.
The markets expected to register high growth rates (in terms of value) from 2011 to 2016 are Canada (36.5%), The Netherlands (31.6%), U.K. (25.5%), and the U.S. (24.9%). However, it must be noted that the reason for the high growth rates in most of these countries can be attributed to very low base numbers.
The thermal and electrical output of these units is designed to serve residential and commercial buildings such stand-alone or multifamily homes, and restaurants. In 2010, the residential sector accounted for 80% of the annual micro CHP sales. The commercial sector followed with a 20% share.
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