The rising concerns over depletion of renewable resources are anticipated to drive the demand for cogeneration equipment across the globe, states Transparency Market Research in a new report. The report titled “Cogeneration Equipment Market - Global Industry Size, Share, Trends, Analysis, and Forecasts 2012 – 2018,” provides an in-depth analysis of the historical growth trajectory accompanied with the current consumer trends prevalent in the global cogeneration equipment market. It also presents an overview of the opportunities that manufacturers can gain from the global cogeneration equipment market in future.
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The study provides statistics for the key regions of the global cogeneration equipment market along with the details of the other segments and a comprehensive description of the factors driving and restraining the global cogeneration equipment market. According to the report, the rising need for power and providing electricity by means of advanced technologies using natural gas and coal based power plants is expected to drive the adoption of cogeneration equipment over the next couple of years. The large adoption of cogeneration technique in various vertical industries is another factor driving the growth of the global cogeneration equipment market.
The report states that the growth of the global cogeneration equipment market can be attributed to the burgeoning demand for electricity worldwide. The concerns over climate change and the subsequent initiatives taken by governments of various countries across the world are anticipated to drive the need for cogeneration devices. Cogeneration equipment have application in various areas such as residential buildings, oil and gas manufacturing units, shopping complexes, hospitals, universities, and small, medium and large industries. The heat that is generated from cogeneration equipment is used for water heating, space heating, and industrial processes.
The report states that boilers, heat recovery steam generators (HRSG), electric generators, steam turbines, reciprocating engines, and gas turbines are used in the cogeneration process for producing combined power and heat. Due to the various components used in cogeneration techniques, the result produced in terms of electricity output is significantly high. As a result of this, the demand for cogeneration equipment is substantially rising. Moreover, the fact that the cogeneration technique is helpful in generating combined heat and electricity using fuel source with minimal wastage is also likely to further augment the demand for cogeneration equipment in the coming years.
Geographically, the report segments the global cogeneration equipment market into Asia Pacific, Europe, North America, and Rest of the World. The key players present in the global cogeneration equipment market are Silbrico Corporation, American DG Energy Inc., Turner Crane, Mr. Electric, Gasco, Almeg Controls, US Green Energy Ltd., and Allied Equipment among others.
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