Cogeneration Equipment Market Demand, Report 2023-2028

Cogeneration Equipment Market

Cogeneration Equipment Market Overview:

The latest report by IMARC Group, titled “Cogeneration Equipment Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028,” offers a comprehensive analysis of the industry, which comprises insights on the Cogeneration Equipment Market Report. The report also includes competitor and regional analysis, and contemporary advancements in the market. The global cogeneration equipment market size reached US$ 25.6 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 41.6 Billion by 2028, exhibiting a growth rate (CAGR) of 8.71% during 2023-2028. Cogeneration equipment is widely utilized to generate electrical and thermal energy from a single fuel source, which includes oil, natural gas, biomass, wood, coal, and waste heat. It consists of electric generators, gas and steam turbines, and heat recovery systems that assist in powering various appliances and machines, such as pumps, fans, refrigerators, dehumidifiers and steamers. These systems provide excellent efficiency while having a smaller carbon footprint when compared to other conventional power-generation systems since the process of cogeneration utilizes the heat circulating in a system that is otherwise lost in their traditional counterparts. The usage of waste products as an essential part of the system enables cogeneration equipment to significantly minimize the overall fuel consumption, thereby gaining widespread prominence among the end users.

As the novel coronavirus (COVID-19) crisis takes over the world, we are continuously tracking the changes in the markets, as well as the purchase behaviors of the consumers globally–our estimates about the latest market trends and forecast values after considering the impact of this pandemic.

Global Cogeneration Equipment Market Trends:

  • The global market is primarily driven by the increasing demand for renewable energy across the globe. Rising incidences of power outages and the growing dependency on electrical appliances have impelled the need for an uninterrupted power supply.
  • Supported by an enhanced focus on sustainable development and the escalating depletion of fossil fuels, this has created a rising requirement for unconventional energy generation, wherein cogeneration equipment forms an indispensable component.
  • Along with this, governments of numerous countries are taking initiatives to promote the use of clean energy and develop the overall infrastructure of renewable energy projects, which is expected to provide an impetus to the market growth.
  • Furthermore, key players are continually engaging in research and development (R&D) activities to launch efficient tri- and quattro-power generation systems to enable the simultaneous production of three and more forms of energy.
  • They are also integrating fuel cell technology with power and heat generation systems and advanced steam turbines with enhanced operational flexibility, which are gaining widespread popularity among the end users.

Key Market Segmentation:

Competitive Landscape with Key Players:

  • Kawasaki Heavy Industries Ltd
  • Bosh Thermotechnology Limited
  • Innovative Steam Technologies
  • Clarke Energy
  • Mitsubishi Heavy Industries Ltd
  • Foster Wheeler AG
  • ANDRITZ Energy & Environment GmbH
  • Siemens AG
  • 2G Energy Inc.
  • ABB Group
  • Aegis Energy Services, Inc.
  • BDR Thermea
  • Baxi Group
  • Capstone Turbine Corporation
  • Rolls Royce Plc

Our report has categorized the market based on fuel, capacity, technology and application.

Breakup by Fuel:

  • Natural Gas
  • Biomass
  • Coal
  • Others


  • Up to 30 MW
  • 31MW -60 MW
  • 61 MW- 100 MW


  • Reciprocating Engine
  • Steam Turbine
  • Combined Cycle Gas Turbine
  • Gas Turbine
  • Others


  • Commercial
  • Industrial
  • Residential


  • Asia Pacific
  • Europe
  • North America
  • Middle East and Africa
  • Latin America
Key Highlights of the Report:
  • Market Performance
  • Market Outlook 
  • Porter’s Five Forces Analysis
  • Market Drivers and Success Factors
  • SWOT Analysis
  • Value Chain
  • Comprehensive Mapping of the Competitive Landscape

If you need specific information that is not currently within the scope of the report, we can provide it to you as a part of the customization.

Report Coverage:

Report FeaturesDetails
Base Year of the Analysis2022
Historical Period2017-2022
Forecast Period2023-2028
UnitsUS$ Billion
Segment CoverageFuel, Capacity, Technology, Application, Region
Region Covered Asia Pacific, Europe, North America, Latin America, Middle East and Africa
Companies CoveredKawasaki Heavy Industries, Ltd., Bosch Group, Innovative Steam Technologies Inc., Kohler Co., Mitsubishi Heavy Industries, Ltd., Wood PLC (Foster Wheeler AG), ANDRITZ AG, Siemens Aktiengesellschaft, 2G Energy AG, ABB Group, Aegis Energy, EDF Group, BDR Thermea Group B.V., Baxi Group, Capstone Turbine Corporation, and Rolls-Royce plc.
Customization Scope10% Free Customization
Report Price and Purchase OptionSingle User License: US$ 2499
Five User License: US$ 3499
Corporate License: US$ 4499
Post-Sale Analyst Support10-12 Weeks
Delivery FormatPDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request)

Key Questions Answered in This Report

1. What was the size of the global cogeneration equipment market in 2022?

2. What is the expected growth rate of the global cogeneration equipment market during 2023-2028?

3. What are the key factors driving the global cogeneration equipment market?

4. What has been the impact of COVID-19 on the global cogeneration equipment market?

5. What is the breakup of the global cogeneration equipment market based on the fuel?

6. What is the breakup of the global cogeneration equipment market based on the capacity?

7. What is the breakup of the global cogeneration equipment market based on the technology?

8. What is the breakup of the global cogeneration equipment market based on the application?

9. What are the key regions in the global cogeneration equipment market?

10. Who are the key players/companies in the global cogeneration equipment market?

About Us:

IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.

IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.

Our offerings include comprehensive market intelligence in the form of research reports, production cost reports, feasibility studies, and consulting services. Our team, which includes experienced researchers and analysts from various industries, is dedicated to providing high-quality data and insights to our clientele, ranging from small and medium businesses to Fortune 1000 corporations.

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