India Combined Heat Power System Market To Be Driven By Modernization Of Existing Power Infrastructure Through 2028
India's CHP
market is expected to grow between 2025 and 2029, driven by the need for
high-quality materials in a variety of sectors.
According to
TechSci Research report, “India Combined Heat Power System Market - By
Region, Competition, Forecast & Opportunities, 2019-2029”, the India
Combined Heat Power System Market is expected to register robust growth during
the forecast period 2025-2029. Combined Heat Power System is primarily used
in power factor correction, motor starting, and other similar applications.
Combined Heat
and Power (CHP) systems are an innovative technology that generates both electricity
and useful heat in a single process. The technology is increasingly being
adopted in India owing to its potential to increase energy efficiency, reduce
greenhouse gas emissions and provide energy security. This technology is
considered a cleaner and more efficient alternative to conventional power
generation.
The Indian
government has identified the CHP system as a key technology for achieving
energy efficiency and reducing greenhouse gas emissions in the country. The
government has introduced several initiatives to promote the adoption of CHP
systems in various sectors. In 2010, the Ministry of Power launched the
"National Mission for Enhanced Energy Efficiency" (NMEEE) to promote
energy-efficient technologies in various sectors, including CHP systems.
Additionally,
the National Action Plan on Climate Change (NAPCC) has identified CHP as a key
technology for reducing greenhouse gas emissions in India. The plan aims to
promote energy-efficient technologies and renewable energy sources to reduce
India's carbon footprint. The CHP system is one of the key technologies that
can help India achieve its carbon reduction goals. The industrial sector is the
primary driver of the CHP market in India. The sector is looking for ways to
reduce energy costs and increase operational efficiency. CHP systems have been
widely adopted in industries such as chemicals, pharmaceuticals, food
processing, textiles, and paper mills. The adoption of CHP systems in these
industries has helped to reduce their energy consumption and greenhouse gas
emissions. The Indian government is taking several steps to promote the
adoption of CHP systems in the country. The government has introduced policies
to incentivize the use of CHP systems in various sectors. The policies include
tax incentives, subsidies, and low-interest loans to encourage the adoption of
CHP systems.
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market data Figures spread through XX Pages and an in-depth TOC on the "India Combined Heat Power System Market.”
The government
has also launched the "Perform, Achieve and Trade" (PAT) scheme,
which aims to improve energy efficiency in energy-intensive industries. Under
the scheme, the government provides incentives to industries that achieve a
certain level of energy efficiency. The scheme has helped to promote the
adoption of CHP systems in various sectors.
The India
Combined Heat Power System market is further segmented into prime mover,
capacity, end user industry and region. Based on prime mover, the market is
further divided into gas & steam turbine, reciprocating engine, fuel cell
and microturbine. Based on capacity, the market is further split into 30 kW to
1 MW, 1.1 MW to 5 MW and 5.1 MW to 10 MW and Above 10 MW. Based on End-User
industry, the market is further segmented into industrial, utilities, commercial
and others. On the basis of region, the market is divided into East India, West
India, North India, and South India.
Key market
players in the India Combined Heat Power System Market include:
- Bharat Heavy
Electricals Limited
- Thermax India
Limited
- Siemens Limited
- GE Power India
Limited
- Cummins India
Limited
- Enercon India
Limited
- Triveni Turbine
- ABB Power
Products and Systems India Ltd.
- Tinius Olsen
India Pvt. Ltd
- Shimadzu
Corporation.
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“The adoption
of CHP systems in India has several benefits, including increased energy
efficiency, reduced greenhouse gas emissions, and improved energy security. CHP
systems can help industries reduce their energy costs, increase their
operational efficiency, and improve their competitiveness. Additionally, the
adoption of CHP systems can help India achieve its carbon reduction goals and
promote sustainable development.
In conclusion,
the CHP system market in India is expected to grow during the forecast period
owing to increasing industrialization, government initiatives, and the need for
energy-efficient technologies. The adoption of CHP systems in various sectors
can help India achieve its energy and climate goals while promoting sustainable
development. The Indian government should continue to promote the adoption of
CHP systems by introducing policies and incentives that encourage their
adoption in various sectors. The Combined Heat Power System market in India is
anticipated to rise steadily during the forecast period, “said Mr. Karan
Chechi, Research Director with TechSci Research, a research-based global
management consulting firm.
India
Combined Heat Power System Market by Prime Mover (Gas & Steam Turbine,
Reciprocating Engine, Fuel Cell and Microturbine), By Capacity (30 kW to 1 MW,
1.1 MW to 5 MW,5.1 MW to 10 MW and Above 10 MW),By End-User Industry
(Industrial, Utilities, Commercial, Others), By Region, Competition, Forecast
& Opportunities, 2029F has
assessed the India Combined Heat Power System market's future development
potential and provides data and information on market size, structure, and
projected market growth. The report's goal is to give current market knowledge
and assist decision makers in making informed investment decisions.
Furthermore, the study identifies and analyses emerging trends, as well as key
drivers, constraints, and opportunities in the India Combined Heat Power System
market.
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