India Combined Heat & Power (CHP) System Market to Surpass $ 160 Million by 2023
Increasing trend of carbon credit by reducing carbon
emissions, expanding chemical and petrochemical industries, and growing demand
for decentralized power generation to fuel India combined heat & power
system market through 2023
According to TechSci Research report, “India Combined Heat & Power System Market
By Prime Mover, By Capacity, By End Use, Competition Forecast &
Opportunities, 2013 - 2023’’, India combined
heat & power (CHP) system market is projected to reach $ 161 million by
2023. Growing demand for decentralized power, increasing demand for
cogeneration from the industrial sector and stringent government regulations
for carbon emissions are among the key factors expected to fuel the CHP system
market in India in the coming years. Moreover, during the forecast period,
government initiatives aimed at the promotion of biogas
and non-bagasse cogeneration systems in the form of incentives and tariff subsidies
would steer growth in India CHP
system market. Bharat Heavy Electricals Limited, Siemens Ltd. and Thermax Limited are
the leading CHP system market players currently operating in India.
Browse 15
market data Tables and 53 Figures spread through 106 Pages and an in-depth TOC on "India Combined Heat & Power System Market”
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In terms
of capacity, combined heat & power systems with above 10 MW capacity
dominate the market as they are majorly used in refineries and chemical &
petrochemical sectors. Western and southern India are the largest demand
generating regions for combined heat & power systems in the country, on
account of the presence of sugar, chemical & petrochemical, refinery, paper
& pulp and cement industries in these regions coupled with supportive government
initiatives such as Green Energy Corridor. Gas & steam turbine segment captured
the largest share, in terms of value, in India combined
heat & power system market in 2017 and is likely to maintain its market
dominance during the forecast period.
“As per
IEA, India had a potential of about 30 GW of combined heat & power systems in
2017 and it is expected to increase to around 85 GW by 2030, backed by growing
number of CHP installations in refinery & petrochemical, sugar mill and
other industrial sectors. Mostly gas & steam turbine prime movers are used
in the combined heat & power systems in these industrial sectors in India,
as they offer a large power generating capacity as compared to other types of
prime movers.”, said Mr. Karan Chechi,
Research Director with TechSci Research, a research based global management
consulting firm.
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“India Combined Heat & Power System Market By
Prime Mover, By Capacity, By End Use, Competition Forecast & Opportunities,
2013 - 2023” has evaluated the future growth potential of India combined heat
& power system market and provides statistics and information on market
size, structure and future market growth. The report intends to provide
cutting-edge market intelligence and help decision makers take sound investment
decisions. Besides, the report also identifies and analyzes the emerging trends
along with essential drivers, challenges and opportunities in India
combined heat & power system market
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