About this market
The rise in world energy demand is one of the key factors expected to trigger the micro combined heat and power (micro-CHP) market growth in the forthcoming years. Factors including the electrification of heating and transport, digitalization of modern economies, and the rise in the number of connected devices in the residential and commercial sectors have further propelled the demand for electricity, in turn, contributing to the micro-CHP market growth over the forecast period. analysts have predicted that the micro combined heat and power (micro-CHP) market will register a CAGR of over 23% by 2023.
Market Overview
The rise in world energy demand
One of the growth drivers of the global micro combined heat and power (micro-CHP) market is the rise in world energy demand. The rapid growth in the world energy demand from the residential as well as commercial sector is expected to drive the growth of the market.
Lack of standards
One of the challenges in the growth of the global micro combined heat and power (micro-CHP) market is the lack of standards. This will hinder the commercialization of technology, thereby limiting the growth of the market.
For the detailed list of factors that will drive and challenge the growth of the micro combined heat and power (micro-CHP) market during 2019-2023, view our report.
Competitive Landscape
The market appears to be moderately fragmented with the presence of several market players. This market research report will help clients identify new growth opportunities and design unique growth strategies by providing a comprehensive analysis of the market’s competitive landscape and offering information on the products offered by companies.