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Combined Heat and Power (CHP) for Thermal Power Plants in Europe
Combined Heat and Power (CHP) for Thermal Power Plants in Europe
Growing Electricity Demand and Increasing Enviromental Awareness Spurs Demand for Cogeneration Market
Hyderabad,
AP,
India
(prbd.net)
01/02/2011
The increasing global demand for electrical power and the simultaneous rise in environmental concerns and legislation are the major drivers for the cogeneration market. The global power market is, at present, strongly focused on issues related to climate change, in order to meet government-mandated environmental targets and also in order to reduce dependency on imported energy. The market participants have recognized the profound need for sustainable development through a well balanced energy portfolio inclusive of energy-efficient technologies. Moreover, international agreements, such as the Kyoto Protocol, have reduced the outlook for coal-fired generation as the world looks to decrease the level of harmful emissions put into the earth’s atmosphere. These stringent regulations on companies generating power from coal, the world’s most utilized source for power generation (and also the most carbon-intensive source), have resulted in the growth of the gas turbine and HRSG market for cogeneration which is used in CCGT plants. These rules and regulations are expected to drive the market in the long term, as they are expected to become more st ringent, ultimately increasing sales.
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Additionally, the demand for higher efficiencies and the availability of larger government incentives and rebates are expected to augment market growth.
The global recession and decline in power demand have fostered uncertainty about natural gas prices. This has created downward pressure on new investments worldwide. Cancellations or delays of utility programs and financing issues are plaguing the power generation market. This is expected to result in a gradual decline in sales, due to the lower demand for new installations of systems in the short term.
2009 was another tough year, as financing conditions remained constrained. Signals suggesting a sustainable recovery are staying mixed and, indeed, there remains a significant concern that recovery could stall, inhibiting investments in this sector. As North America begins its economic recovery, the market is expected to witness an upward trend in revenue growth from 2010. The European cogeneration equipment market is thus estimated to grow at a Compound Annual Growth Rate (CAGR) of 7% from 2011 to 2020, with estimated revenues of $5,654.7m by 2020
This report “Combined Heat and Power (CHP) for Thermal Power Plants in Europe - Market Size, Competitive Landscape, Trends and Analysis to 2020 “ gives detailed information on the CHP market in the European Region. It provides revenues and forecasts across key countries in the region. The reports provides information on key trends, market revenues forecast to 2020, market share of key players. It covers revenues and forecasts for key equipments used in the CHP plant (gas turbine, steam turbine and boilers).
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