CHP Energy Manage

CHP Capacity Grows 16.3 GW Per Year Through 2023, Says Navigant

CHP Energy Manage

As one of the most mature distributed generation segments, the industrial combined heat and power (CHP), or cogeneration, market represents just less than 6 percent of global installed electricity generating capacity. But, the industrial CHP market is expected to realize moderate to strong growth during the next decade, with high growth anticipated in the United States and Russia, as well as in emerging economies throughout Asia Pacific, Latin America, and the Middle East & Africa, according to the new report from Navigant Research “Industrial Combined Heat and Power.”

Total installed industrial CHP is expected to reach 483.7 GW in 2023. New deployments will generate $29.8 billion in new revenue that same year, representing a compound annual growth rate (CAGR) of 4.3 percent between 2013 and 2023. New capacity additions during the forecast period are expected to average 16.3 GW per year.

Currently, industrial CHP is deployed in all global regions, with North America, Western Europe, and Eastern Europe accounting for 80 percent of installed capacity worldwide in 2012. Industrial CHP is highly concentrated in large, energy-consuming economies with a broad industrial processing and manufacturing base.

With a combined installed base of 140.2 GW, the United States and Russia accounted for 46 percent of the global installed industrial CHP capacity in 2012. Although growth in the industrial CHP market has stagnated in countries like the United States and Russia in recent years, the confluence of a number of drivers are pointing to renewed interest in this proven technology platform across all regions.

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