Asia-Pacific (APAC) is expected to remain the largest combined heat and power (CHP) market in the world due to an increase in capacity installations, led by countries such as China, India and Japan, according to GlobalData, a leading data and analytics company.
The company’s latest report ‘Combined Heat and Power Market, Update 2019– Global Market Size, Segmentation, Regulations, and Key Country Analysis to 2025’ reveals that the global CHP capacity is estimated to grow significantly from 864.2 gigawatt (GW) in 2018 to 1,050.5 GW in 2025, due to significant capacity additions by China and India.
Asia-Pacific (APAC) is the largest region in terms of both net capacity additions and cumulative CHP capacity in 2018.
Anchal Agarwal, Power Analyst at GlobalData, comments: “Europe was the region with the highest installed CHP capacity until 2009, primarily due to early development of technology, carbon savings target and large capacity installations in major countries such as Russia, Netherlands, Germany and the UK. In 2010, the APAC region overtook Europe as it added capacities while Europe stagnated at its already high level. The governments in APAC are strongly committed towards having a cleaner energy mix and are supporting the evolution of such technologies through various policies and R&D initiatives.”
Source: Press Release
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