Global Cogeneration Equipment Market: About this market Cogeneration equipment is primarily used in power generation and recovering heat. This cogeneration equipment market analysis considers sales from the reciprocating engines, gas turbines, steam turbines, and other segments.
New York, Nov. 06, 2019 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Global Cogeneration Equipment Market 2019-2023" - https://www.reportlinker.com/p03859337/?utm_source=GNW
Our analysis also considers the sales of cogeneration equipment in APAC, Europe, MEA, North America, and South America. In 2018, the reciprocating engines segment held the highest market share, which is expected to remain prevalent over the forecast period. Factors such as the increasing requirement for energy efficiency in various industries will significantly help the market segment in maintaining its leading position. Also, our global cogeneration equipment report has observed market growth factors such as the increasing number of government initiatives, new product launches, and new contracts. However, high costs associated with cogeneration, increasing renewable power generation, and challenges associated with cogeneration installations may hamper the growth of the cogeneration equipment industry over the forecast period.
Global Cogeneration Equipment Market: Overview
An increasing number of government initiatives
Governments are increasingly taking initiatives to encourage the setting up of cogenerative plants. This is because cogeneration is more efficient and requires less fuel. As a result, the sales of cogeneration equipment are increasing. This will lead to the expansion of the cogeneration equipment market at a CAGR of over 5% during the forecast period.
Innovation and technologies
Vendors are innovating cogeneration equipment to enhance their functionalities. For instance, the fuel cell is an emerging technology for power and heat generation. This will further enhance the efficiency of cogeneration. Therefore, this trend will have a positive impact on the overall market growth.
With the presence of several major players, the global cogeneration equipment market is fragmented. This robust vendor analysis is designed to help clients in improving their market positions, and in line with this, this report provides a detailed analysis of several leading cogeneration equipment manufacturers, which include 2G Energy AG, AB Holding Spa, General Electric Co., Mitsubishi Heavy Industries Ltd., Siemens AG, and Veolia Environnement SA.
Also, the cogeneration equipment market analysis report includes information on upcoming trends and challenges that will influence market growth. This is to help companies strategize and leverage on all forthcoming growth opportunities.
Read the full report: https://www.reportlinker.com/p03859337/?utm_source=GNW
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