Combined Heat and Power ( CHP ) Installation Market
Natural gas and coal being two of the most easily available fuels at low costs are widely used in CHP systems . However , due to high environmental footprint and high handling costs , utilization of coal in CHP is anticipated to decrease in regions such as Europe and North America . Asia Pacific with some of the largest coal reserves is expected to witness installations of coal-fired CHP plants in the region in the near future . In 2014 , in terms of fuel , natural gas accounted the largest share of the CHP installation market , followed by coal , others , and biomass . The others sub-segment of fuel segment includes wood , waste heat , and oil .
Technologies used in CHP systems generally include combined cycle , steam turbine , combustion / gas turbine , reciprocating engine , fuel cell , microturbine , and waste heat recovery . In 2014 , combined cycle held the largest market share , followed by combustion / gas turbine and reciprocating engine . Fuel cells and microtubines ,, included in the others segment , although available in small power capacity ranges , are anticipated to witness a surge in demand owing to the increasing need for micro CHP in residential and small commercial buildings .
On the basis of the technology employed in CHP systems , the global CHP installation market has been segmented into combined cycle , steam turbine , combustion / gas turbine , reciprocating engine , and others . The others segment includes waste heat recovery , microturbines , and fuel cells . These technologies are also known as prime movers and produce electrical and thermal energy by combusting fuels . This fuel combustion either creates mechanical energy directly or first produces steam , which is subsequently converted into mechanical energy , and is transferred to a generator to produce electricity . The primary advantages of CHP are that it can be coupled with existing technologies in different applications and can be widely used in commercial , residential , and industrial applications .
Considering the global adoption pattern of CHP systems , the CHP installation market has been segmented as follows :
CHP Installation Market : By CHP Type
• Large-scale CHP
• Micro & Small-scale CHP
CHP Installation Market : By CHP Application
• Residential
• Commercial
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