Global Information Inc. would like to present a new market research report, "Combined Heat and Power for Commercial Buildings: Global Market Analysis and Forecasts" by Navigant Research.
The market for CHP in commercial buildings will grow from $2.2 billion in 2012 to $11.2 billion in 2022.
"Falling natural gas prices in the United States and expanding policy incentives across Asia Pacific and Europe are driving an increase in commercial CHP installations," says senior research analyst Mackinnon Lawrence. "While applications to date have been limited to large facilities, such as hospitals and universities, with near 24/7 thermal and electrical loads, improved economics around smaller installations and advances in prime mover technologies are opening up opportunities across previously untapped segments, including smaller retail, sports clubs, and airports."
Europe is currently the leading market for commercial CHP installations, with North America a close second. Over the next decade, though, according to the report, Asia Pacific will be the hottest market for CHP in commercial buildings, with a compound annual growth rate of nearly 20 percent. Growth rates in Africa and the Middle East will also be high, but these markets will be dwarfed by those in Europe, North America, and Asia Pacific.