열병합발전 시장 : 시장 규모, 점유율, 동향, 산업 분석 보고서 - 연료별, 원동기별, 최종 용도별, 지역별 시장 예측(2025-2034년)

The global combined heat and power market size is expected to reach USD 51.46 billion by 2034, according to a new study by Polaris Market Research. The report "Combined Heat and Power Market Size, Share, Trends, Industry Analysis Report By Fuel (Coal, Natural Gas, Biomass, Nuclear, Others), By Prime Mover, By End Use, By Region - Market Forecast, 2025-2034" gives a detailed insight into current market dynamics and provides analysis on future market growth.

Combined heat and power process, also known as cogeneration, generates electricity and useful thermal energy from a single fuel source. Unlike conventional power plants where waste heat is released into the atmosphere, CHP systems capture and use this heat for various applications such as space heating, water heating, or industrial processes. This method significantly improves overall energy efficiency, reduces energy costs, and lowers greenhouse gas emissions, making it an attractive solution for a wide range of end-users. It represents a key component of decentralized energy systems, providing on-site power and thermal energy to homes, businesses, and industrial facilities.

The market for combined heat and power is a significant part of the global energy sector, driven by a strong focus on energy efficiency and sustainability. The increasing demand for a reliable power supply, along with a growing emphasis on reducing carbon emissions, is pushing the adoption of this technology. The market is seeing a lot of activity from major players who are investing in research and development to create more advanced and efficient systems. These new systems are designed to be more flexible, work with cleaner fuels, and integrate with smart grid technologies. The market outlook is positive, with continued growth expected as more industries and countries adopt these systems to meet their energy and environmental goals.

Combined Heat and Power Market Report Highlights:

By fuel, the natural gas segment held the largest share in 2024. Its leadership is attributed to its wide availability, relatively low cost, and cleaner-burning properties compared to other fossil fuels, which align with global environmental goals.

By prime mover, the reciprocating engines segment held the largest share in 2024. These systems are highly versatile and reliable, making them suitable for a wide range of applications from industrial to commercial settings.

By end use, the industrial segment held the largest share in 2024. This is because industries have a consistent need for both electricity and thermal energy for their processes, making combined heat and power a highly efficient and cost-effective solution for their energy needs.

By region, Asia Pacific held the largest share in 2024. This is mainly because of rapid industrialization, growing urbanization, and increasing energy demand in countries across the region, especially in China and India. The combined heat and power market in North America is driven by the region's strong focus on energy efficiency and cost reduction in the industrial and commercial sectors.

A few prominent companies in the combined heat and power market include Siemens Energy AG, General Electric Company, Caterpillar Inc., Wartsila Corporation, Veolia, Mitsubishi Heavy Industries, Ltd., MAN Energy Solutions SE, Bosch Thermotechnology GmbH, Johnson Controls International PLC, and Doosan Corporation.

Polaris Market Research has segmented the combined heat and power market report based on fuel, prime mover, end use, and region:

By Fuel Outlook (Revenue - USD Billion, 2020-2034)

Coal

Natural Gas

Biomass

Nuclear

Others

By Prime Mover Outlook (Revenue - USD Billion, 2020-2034)

Gas Turbine

Fuel Cell

Reciprocating Engine

Combined Cycle

Steam Turbine

Others

By End Use Outlook (Revenue - USD Billion, 2020-2034)

Commercial

Industrial

Residential

Utilities

Others

By Regional Outlook (Revenue - USD Billion, 2020-2034)

North America

U.S.

Canada

Europe

Germany

France

UK

Italy

Spain

Netherlands

Russia

Rest of Europe

Asia Pacific

China

Japan

India

Malaysia

South Korea

Indonesia

Australia

Vietnam

Rest of Asia Pacific

Middle East & Africa

Saudi Arabia

UAE

Israel

South Africa

Rest of Middle East & Africa

Latin America

Mexico

Brazil

Argentina

Rest of Latin America

Table of Contents

1. Introduction

• 1.1. Report Description
  • 1.1.1. Objectives of the Study
  • 1.1.2. Market Scope
  • 1.1.3. Assumptions
• 1.2. Stakeholders

2. Executive Summary

• 2.1. Market Highlights

3. Research Methodology

• 3.1. Overview
  • 3.1.1. Data Mining
• 3.2. Data Source
  • 3.2.1. Primary Source
  • 3.2.2. Secondary Source

4. Global Combined Heat and Power Market Insights

• 4.1. Combined Heat and Power Market - Market Snapshot
• 4.2. Combined Heat and Power Market Dynamics
  • 4.2.1. Drivers and Opportunities
    • 4.2.1.1. Rising Demand for Energy Efficiency
    • 4.2.1.2. Government Policies and Environmental Regulations
  • 4.2.2. Restraints and Challenges
    • 4.2.2.1. High upfront capital requirements
• 4.3. Porter's Five Forces Analysis
  • 4.3.1. Bargaining Power of Suppliers (Moderate)
  • 4.3.2. Threats of New Entrants: (Low)
  • 4.3.3. Bargaining Power of Buyers (Moderate)
  • 4.3.4. Threat of Substitute (Moderate)
  • 4.3.5. Rivalry among existing firms (High)
• 4.4. PESTEL Analysis
• 4.5. Combined Heat and Power Market Application Trends
• 4.6. Value Chain Analysis
• 4.7. COVID-19 Impact Analysis

5. Global Combined Heat and Power Market, by Fuel

• 5.1. Key Findings
• 5.2. Introduction
  • 5.2.1. Global Combined Heat and Power Market, by Fuel, 2020-2034 (USD Billion)
• 5.3. Coal
  • 5.3.1. Global Combined Heat and Power Market, by Coal, by Region, 2020-2034 (USD Billion)
• 5.4. Natural Gas
  • 5.4.1. Global Combined Heat and Power Market, by Natural Gas, by Region, 2020-2034 (USD Billion)
• 5.5. Biomass
  • 5.5.1. Global Combined Heat and Power Market, by Biomass, by Region, 2020-2034 (USD Billion)
• 5.6. Nuclear
  • 5.6.1. Global Combined Heat and Power Market, by Nuclear, by Region, 2020-2034 (USD Billion)
• 5.7. Others
  • 5.7.1. Global Combined Heat and Power Market, by Others, by Region, 2020-2034 (USD Billion)

6. Global Combined Heat and Power Market, by Prime Mover

• 6.1. Key Findings
• 6.2. Introduction
  • 6.2.1. Global Combined Heat and Power Market, by Prime Mover, 2020-2034 (USD Billion)
• 6.3. Gas Turbine
  • 6.3.1. Global Combined Heat and Power Market, by Gas Turbine, by Region, 2020-2034 (USD Billion)
• 6.4. Fuel Cell
  • 6.4.1. Global Combined Heat and Power Market, by Fuel Cell, by Region, 2020-2034 (USD Billion)
• 6.5. Reciprocating Engine
  • 6.5.1. Global Combined Heat and Power Market, by Reciprocating Engine, by Region, 2020-2034 (USD Billion)
• 6.6. Combined Cycle
  • 6.6.1. Global Combined Heat and Power Market, by Combined Cycle, by Region, 2020-2034 (USD Billion)
• 6.7. Steam Turbine
  • 6.7.1. Global Combined Heat and Power Market, by Steam Turbine, by Region, 2020-2034 (USD Billion)
• 6.8. Others
  • 6.8.1. Global Combined Heat and Power Market, by Others, by Region, 2020-2034 (USD Billion)

7. Global Combined Heat and Power Market, by End Use

• 7.1. Key Findings
• 7.2. Introduction
  • 7.2.1. Global Combined Heat and Power Market, by End Use, 2020-2034 (USD Billion)
• 7.3. Commercial
  • 7.3.1. Global Combined Heat and Power Market, by Commercial, by Region, 2020-2034 (USD Billion)
• 7.4. Industrial
  • 7.4.1. Global Combined Heat and Power Market, by Industrial, by Region, 2020-2034 (USD Billion)
• 7.5. Residential
  • 7.5.1. Global Combined Heat and Power Market, by Residential, by Region, 2020-2034 (USD Billion)
• 7.6. Utilities
  • 7.6.1. Global Combined Heat and Power Market, by Utilities, by Region, 2020-2034 (USD Billion)
• 7.7. Others
  • 7.7.1. Global Combined Heat and Power Market, by Others, by Region, 2020-2034 (USD Billion)

8. Global Combined Heat and Power Market, by Geography

• 8.1. Key Findings
• 8.2. Introduction
  • 8.2.1. Combined Heat and Power Market Assessment, By Geography, 2020-2034 (USD Billion)
• 8.3. Combined Heat and Power Market - North America
  • 8.3.1. North America: Combined Heat and Power Market, by Fuel, 2020-2034 (USD Billion)
  • 8.3.2. North America: Combined Heat and Power Market, by Prime Mover, 2020-2034 (USD Billion)
  • 8.3.3. North America: Combined Heat and Power Market, by End Use, 2020-2034 (USD Billion)
  • 8.3.4. Combined Heat and Power Market - U.S.
    • 8.3.4.1. U.S.: Combined Heat and Power Market, by Fuel, 2020-2034 (USD Billion)
    • 8.3.4.2. U.S.: Combined Heat and Power Market, by Prime Mover, 2020-2034 (USD Billion)
    • 8.3.4.3. U.S.: Combined Heat and Power Market, by End Use, 2020-2034 (USD Billion)
  • 8.3.5. Combined Heat and Power Market - Canada
    • 8.3.5.1. Canada: Combined Heat and Power Market, by Fuel, 2020-2034 (USD Billion)
    • 8.3.5.2. Canada: Combined Heat and Power Market, by Prime Mover, 2020-2034 (USD Billion)
    • 8.3.5.3. Canada: Combined Heat and Power Market, by End Use, 2020-2034 (USD Billion)
• 8.4. Combined Heat and Power Market - Europe
  • 8.4.1. Europe: Combined Heat and Power Market, by Fuel, 2020-2034 (USD Billion)
  • 8.4.2. Europe: Combined Heat and Power Market, by Prime Mover, 2020-2034 (USD Billion)
  • 8.4.3. Europe: Combined Heat and Power Market, by End Use, 2020-2034 (USD Billion)
  • 8.4.4. Combined Heat and Power Market - UK
    • 8.4.4.1. UK: Combined Heat and Power Market, by Fuel, 2020-2034 (USD Billion)
    • 8.4.4.2. UK: Combined Heat and Power Market, by Prime Mover, 2020-2034 (USD Billion)
    • 8.4.4.3. UK: Combined Heat and Power Market, by End Use, 2020-2034 (USD Billion)
  • 8.4.5. Combined Heat and Power Market - France
    • 8.4.5.1. France: Combined Heat and Power Market, by Fuel, 2020-2034 (USD Billion)
    • 8.4.5.2. France: Combined Heat and Power Market, by Prime Mover, 2020-2034 (USD Billion)
    • 8.4.5.3. France: Combined Heat and Power Market, by End Use, 2020-2034 (USD Billion)
  • 8.4.6. Combined Heat and Power Market - Germany
    • 8.4.6.1. Germany: Combined Heat and Power Market, by Fuel, 2020-2034 (USD Billion)
    • 8.4.6.2. Germany: Combined Heat and Power Market, by Prime Mover, 2020-2034 (USD Billion)
    • 8.4.6.3. Germany: Combined Heat and Power Market, by End Use, 2020-2034 (USD Billion)
  • 8.4.7. Combined Heat and Power Market - Italy
    • 8.4.7.1. Italy: Combined Heat and Power Market, by Fuel, 2020-2034 (USD Billion)
    • 8.4.7.2. Italy: Combined Heat and Power Market, by Prime Mover, 2020-2034 (USD Billion)
    • 8.4.7.3. Italy: Combined Heat and Power Market, by End Use, 2020-2034 (USD Billion)
  • 8.4.8. Combined Heat and Power Market - Spain
    • 8.4.8.1. Spain: Combined Heat and Power Market, by Fuel, 2020-2034 (USD Billion)
    • 8.4.8.2. Spain: Combined Heat and Power Market, by Prime Mover, 2020-2034 (USD Billion)
    • 8.4.8.3. Spain: Combined Heat and Power Market, by End Use, 2020-2034 (USD Billion)
  • 8.4.9. Combined Heat and Power Market - Netherlands
    • 8.4.9.1. Netherlands: Combined Heat and Power Market, by Fuel, 2020-2034 (USD Billion)
    • 8.4.9.2. Netherlands: Combined Heat and Power Market, by Prime Mover, 2020-2034 (USD Billion)
    • 8.4.9.3. Netherlands: Combined Heat and Power Market, by End Use, 2020-2034 (USD Billion)
  • 8.4.10. Combined Heat and Power Market - Russia
    • 8.4.10.1. Russia: Combined Heat and Power Market, by Fuel, 2020-2034 (USD Billion)
    • 8.4.10.2. Russia: Combined Heat and Power Market, by Prime Mover, 2020-2034 (USD Billion)
    • 8.4.10.3. Russia: Combined Heat and Power Market, by End Use, 2020-2034 (USD Billion)
  • 8.4.11. Combined Heat and Power Market - Rest of Europe
    • 8.4.11.1. Rest of Europe: Combined Heat and Power Market, by Fuel, 2020-2034 (USD Billion)
    • 8.4.11.2. Rest of Europe: Combined Heat and Power Market, by Prime Mover, 2020-2034 (USD Billion)
    • 8.4.11.3. Rest of Europe: Combined Heat and Power Market, by End Use, 2020-2034 (USD Billion)
• 8.5. Combined Heat and Power Market - Asia Pacific
  • 8.5.1. Asia Pacific: Combined Heat and Power Market, by Fuel, 2020-2034 (USD Billion)
  • 8.5.2. Asia Pacific: Combined Heat and Power Market, by Prime Mover, 2020-2034 (USD Billion)
  • 8.5.3. Asia Pacific: Combined Heat and Power Market, by End Use, 2020-2034 (USD Billion)
  • 8.5.4. Combined Heat and Power Market - China
    • 8.5.4.1. China: Combined Heat and Power Market, by Fuel, 2020-2034 (USD Billion)
    • 8.5.4.2. China: Combined Heat and Power Market, by Prime Mover, 2020-2034 (USD Billion)
    • 8.5.4.3. China: Combined Heat and Power Market, by End Use, 2020-2034 (USD Billion)
  • 8.5.5. Combined Heat and Power Market - India
    • 8.5.5.1. India: Combined Heat and Power Market, by Fuel, 2020-2034 (USD Billion)
    • 8.5.5.2. India: Combined Heat and Power Market, by Prime Mover, 2020-2034 (USD Billion)
    • 8.5.5.3. India: Combined Heat and Power Market, by End Use, 2020-2034 (USD Billion)
  • 8.5.6. Combined Heat and Power Market - Malaysia
    • 8.5.6.1. Malaysia: Combined Heat and Power Market, by Fuel, 2020-2034 (USD Billion)
    • 8.5.6.2. Malaysia: Combined Heat and Power Market, by Prime Mover, 2020-2034 (USD Billion)
    • 8.5.6.3. Malaysia: Combined Heat and Power Market, by End Use, 2020-2034 (USD Billion)
  • 8.5.7. Combined Heat and Power Market - Japan
    • 8.5.7.1. Japan: Combined Heat and Power Market, by Fuel, 2020-2034 (USD Billion)
    • 8.5.7.2. Japan: Combined Heat and Power Market, by Prime Mover, 2020-2034 (USD Billion)
    • 8.5.7.3. Japan: Combined Heat and Power Market, by End Use, 2020-2034 (USD Billion)
  • 8.5.8. Combined Heat and Power Market - Indonesia
    • 8.5.8.1. Indonesia: Combined Heat and Power Market, by Fuel, 2020-2034 (USD Billion)
    • 8.5.8.2. Indonesia: Combined Heat and Power Market, by Prime Mover, 2020-2034 (USD Billion)
    • 8.5.8.3. Indonesia: Combined Heat and Power Market, by End Use, 2020-2034 (USD Billion)
  • 8.5.9. Combined Heat and Power Market - South Korea
    • 8.5.9.1. South Korea: Combined Heat and Power Market, by Fuel, 2020-2034 (USD Billion)
    • 8.5.9.2. South Korea: Combined Heat and Power Market, by Prime Mover, 2020-2034 (USD Billion)
    • 8.5.9.3. South Korea: Combined Heat and Power Market, by End Use, 2020-2034 (USD Billion)
  • 8.5.10. Combined Heat and Power Market - Australia
    • 8.5.10.1. Australia: Combined Heat and Power Market, by Fuel, 2020-2034 (USD Billion)
    • 8.5.10.2. Australia: Combined Heat and Power Market, by Prime Mover, 2020-2034 (USD Billion)
    • 8.5.10.3. Australia: Combined Heat and Power Market, by End Use, 2020-2034 (USD Billion)
  • 8.5.11. Combined Heat and Power Market - Rest of Asia Pacific
    • 8.5.11.1. Rest of Asia Pacific: Combined Heat and Power Market, by Fuel, 2020-2034 (USD Billion)
    • 8.5.11.2. Rest of Asia Pacific: Combined Heat and Power Market, by Prime Mover, 2020-2034 (USD Billion)
    • 8.5.11.3. Rest of Asia Pacific: Combined Heat and Power Market, by End Use, 2020-2034 (USD Billion)
• 8.6. Combined Heat and Power Market - Middle East & Africa
  • 8.6.1. Middle East & Africa: Combined Heat and Power Market, by Fuel, 2020-2034 (USD Billion)
  • 8.6.2. Middle East & Africa: Combined Heat and Power Market, by Prime Mover, 2020-2034 (USD Billion)
  • 8.6.3. Middle East & Africa: Combined Heat and Power Market, by End Use, 2020-2034 (USD Billion)
  • 8.6.4. Combined Heat and Power Market - Saudi Arabia
    • 8.6.4.1. Saudi Arabia: Combined Heat and Power Market, by Fuel, 2020-2034 (USD Billion)
    • 8.6.4.2. Saudi Arabia: Combined Heat and Power Market, by Prime Mover, 2020-2034 (USD Billion)
    • 8.6.4.3. Saudi Arabia: Combined Heat and Power Market, by End Use, 2020-2034 (USD Billion)
  • 8.6.5. Combined Heat and Power Market - UAE
    • 8.6.5.1. UAE: Combined Heat and Power Market, by Fuel, 2020-2034 (USD Billion)
    • 8.6.5.2. UAE: Combined Heat and Power Market, by Prime Mover, 2020-2034 (USD Billion)
    • 8.6.5.3. UAE: Combined Heat and Power Market, by End Use, 2020-2034 (USD Billion)
  • 8.6.6. Combined Heat and Power Market - Israel
    • 8.6.6.1. Israel: Combined Heat and Power Market, by Fuel, 2020-2034 (USD Billion)
    • 8.6.6.2. Israel: Combined Heat and Power Market, by Prime Mover, 2020-2034 (USD Billion)
    • 8.6.6.3. Israel: Combined Heat and Power Market, by End Use, 2020-2034 (USD Billion)
  • 8.6.7. Combined Heat and Power Market - South Africa
    • 8.6.7.1. South Africa: Combined Heat and Power Market, by Fuel, 2020-2034 (USD Billion)
    • 8.6.7.2. South Africa: Combined Heat and Power Market, by Prime Mover, 2020-2034 (USD Billion)
    • 8.6.7.3. South Africa: Combined Heat and Power Market, by End Use, 2020-2034 (USD Billion)
  • 8.6.8. Combined Heat and Power Market - Rest of Middle East & Africa
    • 8.6.8.1. Rest of Middle East & Africa: Combined Heat and Power Market, by Fuel, 2020-2034 (USD Billion)
    • 8.6.8.2. Rest of Middle East & Africa: Combined Heat and Power Market, by Prime Mover, 2020-2034 (USD Billion)
    • 8.6.8.3. Rest of Middle East & Africa: Combined Heat and Power Market, by End Use, 2020-2034 (USD Billion)
• 8.7. Combined Heat and Power Market - Latin America
  • 8.7.1. Latin America: Combined Heat and Power Market, by Fuel, 2020-2034 (USD Billion)
  • 8.7.2. Latin America: Combined Heat and Power Market, by Prime Mover, 2020-2034 (USD Billion)
  • 8.7.3. Latin America: Combined Heat and Power Market, by End Use, 2020-2034 (USD Billion)
  • 8.7.4. Combined Heat and Power Market - Mexico
    • 8.7.4.1. Mexico: Combined Heat and Power Market, by Fuel, 2020-2034 (USD Billion)
    • 8.7.4.2. Mexico: Combined Heat and Power Market, by Prime Mover, 2020-2034 (USD Billion)
    • 8.7.4.3. Mexico: Combined Heat and Power Market, by End Use, 2020-2034 (USD Billion)
  • 8.7.5. Combined Heat and Power Market - Brazil
    • 8.7.5.1. Brazil: Combined Heat and Power Market, by Fuel, 2020-2034 (USD Billion)
    • 8.7.5.2. Brazil: Combined Heat and Power Market, by Prime Mover, 2020-2034 (USD Billion)
    • 8.7.5.3. Brazil: Combined Heat and Power Market, by End Use, 2020-2034 (USD Billion)
  • 8.7.6. Combined Heat and Power Market - Argentina
    • 8.7.6.1. Argentina: Combined Heat and Power Market, by Fuel, 2020-2034 (USD Billion)
    • 8.7.6.2. Argentina: Combined Heat and Power Market, by Prime Mover, 2020-2034 (USD Billion)
    • 8.7.6.3. Argentina: Combined Heat and Power Market, by End Use, 2020-2034 (USD Billion)
  • 8.7.7. Combined Heat and Power Market - Rest of Latin America
    • 8.7.7.1. Rest of Latin America: Combined Heat and Power Market, by Fuel, 2020-2034 (USD Billion)
    • 8.7.7.2. Rest of Latin America: Combined Heat and Power Market, by Prime Mover, 2020-2034 (USD Billion)
    • 8.7.7.3. Rest of Latin America: Combined Heat and Power Market, by End Use, 2020-2034 (USD Billion)

9. Competitive Landscape

• 9.1. Expansion and Acquisition Analysis
  • 9.1.1. Expansion
  • 9.1.2. Acquisitions
• 9.2. Partnerships/Collaborations/Agreements/Exhibitions

10. Company Profiles

• 10.1. Bosch Thermotechnology GmbH
  • 10.1.1. Company Overview
  • 10.1.2. Financial Performance
  • 10.1.3. Product Benchmarking
  • 10.1.4. Recent Development
• 10.2. Caterpillar Inc.
  • 10.2.1. Company Overview
  • 10.2.2. Financial Performance
  • 10.2.3. Product Benchmarking
  • 10.2.4. Recent Development
• 10.3. Doosan Corporation
  • 10.3.1. Company Overview
  • 10.3.2. Financial Performance
  • 10.3.3. Product Benchmarking
  • 10.3.4. Recent Development
• 10.4. General Electric Company
  • 10.4.1. Company Overview
  • 10.4.2. Financial Performance
  • 10.4.3. Product Benchmarking
  • 10.4.4. Recent Development
• 10.5. Johnson Controls International PL
  • 10.5.1. Company Overview
  • 10.5.2. Financial Performance
  • 10.5.3. Product Benchmarking
  • 10.5.4. Recent Development
• 10.6. MAN Energy Solutions SE
  • 10.6.1. Company Overview
  • 10.6.2. Financial Performance
  • 10.6.3. Product Benchmarking
  • 10.6.4. Recent Development
• 10.7. Mitsubishi Heavy Industries, Ltd.
  • 10.7.1. Company Overview
  • 10.7.2. Financial Performance
  • 10.7.3. Product Benchmarking
  • 10.7.4. Recent Development
• 10.8. Siemens Energy AG
  • 10.8.1. Company Overview
  • 10.8.2. Financial Performance
  • 10.8.3. Product Benchmarking
  • 10.8.4. Recent Development
• 10.9. Veoli
  • 10.9.1. Company Overview
  • 10.9.2. Financial Performance
  • 10.9.3. Product Benchmarking
  • 10.9.4. Recent Development
• 10.10. Wartsila Corporation
  • 10.10.1. Company Overview
  • 10.10.2. Financial Performance
  • 10.10.3. Product Benchmarking
  • 10.10.4. Recent Development