Combined Heat and Power Market to Observe Strong Growth by 2029 | GE, Siemens Energy, Veolia, Wärtsilä

According to a research report "Combined Heat and Power Market by Prime Mover (Gas Turbine, Steam Turbine, Reciprocating Engine, Fuel Cell, Microturbine), Capacity (Up to 10 MW, 10-150 MW, 151-300 MW, Above 300 MW), Fuel, End User and Region - Global Forecast to 2029" published by MarketsandMarkets, the Combined heat and power market is projected to reach USD 39.2 billion by 2029 from an estimated USD 30.4 billion in 2024, at a CAGR of 5.2% during the forecast period.

The demand for combined heat and power (CHP) is growing due to its efficiency in generating electricity and capturing waste heat for heating or cooling purposes, reducing energy costs and emissions. It offers benefits like increased energy efficiency, lower operational costs, and enhanced grid resilience. CHP systems are used in various sectors including industrial facilities, commercial buildings, hospitals, universities, and residential complexes to meet energy needs sustainably.

Browse 414 market data Tables and 62 Figures spread through 333 Pages and in-depth TOC on "Combined Heat and Power Market - Global Forecast to 2029"

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Coal, by fuel, is expected to grow by the second largest segment during the forecast period.

Based on fuel, the combined heat and power market has been segmented into coal, natural gas, biogas/biomass, nuclear, diesel and others. Coal is the second-largest primary fuel source for power generation globally, contributing to about 40% of worldwide electricity production. The rise in coal-fired power plants, particularly in China and India, is driving the demand for steam turbines, thereby fueling the market for Combined Heat and Power Systems (CHPS). Due to factors such as infrastructure development projects and increased demand for electricity, coal remains a prominent choice for power generation despite concerns over coal shortages and high prices.

The utilities segment by end user is expected to grow at the second largest during the forecast period.

This report segments the combined heat and power market based on end user into utilities, industrial, commercial, and residential. The utilities segment is expected to grow as the second largest in the combined heat and power market due to its ability to offer both electricity and thermal energy at low costs. Combined Heat and Power (CHP) systems are increasingly favored by utilities. Their high efficiency, reaching up to 80%, compared to traditional thermal plants, makes them a key technology for utilities seeking to monetize heat generation and enhance operational efficiency. The rising adoption of large-scale centralized CHP systems by utilities reflects their realization of the commercial and technical benefits, driving the growth of the CHP market.

South America is expected to be the second fastest-growing region in the combined heat and power market.

South America is expected to be the second fastest-growing region in the combined heat and power market during the forecast period. The South American region has been subdivided into three key countries: Brazil, Argentina and Rest of South America. Rest of South America includes Colombia, Ecuador, Bolivia, and Chile. The combined heat and power market is flourishing in South America due to a surge in offshore exploration and oil & gas activities, coupled with significant investments required to meet rising power demands, South America emerges as the second fastest-growing region. The region's decreasing reliance on hydroelectricity in favor of natural gas generation presents promising opportunities for the combined heat and power (CHP) market.

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Key Players

Some of the major players in the Combined heat and power market are GE (US), Siemens Energy (Germany), Veolia (France), Wärtsilä (Finland), and 2G Energy (Germany). The major strategies adopted by these players include sales contracts, product launches, investments, collaborations, partnerships, and expansions.

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eFuse Market Research on Growth, Trends, Opportunity and Forecast to 2029

According to a research report "eFuse Market Type (Auto Retry, Latched), Package Type (Small Outline No Lead, Dual Flat No Leads, Quad Flat No Leads, Think Shrink Small Outline Package), Application, End User, & Region - Forecast to 2035" published by MarketsandMarkets, the eFuse market is projected to reach USD 674 million by 2029 from an estimated USD 557 million in 2024, at a CAGR of 3.9% during the forecast period.

The growing requirement for advanced circuit protection in a variety of high-tech industries is driving up demand for eFuses globally. eFuses are being integrated by end users such as servers, hard disc drives (HDD), and solid-state drives (SSD) in order to protect against power anomalies in data centres, automobile electronics, and consumer electronics. System reliability is improved by the availability of eFuses in varieties like auto-retry and latching, which allow customised protection mechanisms. Compact design needs of contemporary electronic devices are met by packaged kinds such as Thin Shrink Small Outline Package (TSSOP), Dual Flat No Leads (DFN), Quad Flat No Leads (QFN), and Small Outline No Lead (SON), which allow for flexible integration into a variety of applications.

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Solid State drives, by application, is expected to be the largest-growing segment during the forecast period.

Based on application, the eFuse market has been split into up to solid state drives, hard disk drives, servers and data centres equipment, automotive electronics and other application. The solid state drives segment is expected to be the largest growing segment because solid state drives are becoming more and more used in data centres, enterprise storage, and consumer gadgets due to their advantages over traditional hard disc drives in terms of speed, dependability, and energy economy. eFuses prolong the life of solid state drives and improve data integrity by offering crucial protection against overcurrent and short circuits. The need for eFuses in solid state drives rises in tandem with the need for quicker, more dependable storage solutions, particularly in high-performance computing applications.

The latched segment, by type, is expected to be the fastest-growing segment during the forecast period.

This report segments the eFuse market based on the type as, auto retry and latched. The latched segment is expected to be the fastest-growing in the eFuse market due to its ability to provide persistent protection by remaining in an off state after a fault until manually reset. This feature is crucial for applications requiring high safety standards and minimal downtime, such as in automotive electronics, industrial systems, and critical IT infrastructure. The latched mechanism ensures a robust response to overcurrent conditions, significantly enhancing system reliability and safety.

Asia Pacific is expected to be the largest region in the eFuse market.

Asia Pacific is expected to be the largest region for the eFuse market due to several key factors. Firstly, it houses several rapidly developing economies with booming electronics, automotive, and telecommunications sectors, all of which extensively use eFuses for circuit protection. Secondly, the region is a global manufacturing hub for electronic devices and components, leading to a high demand for eFuses in production processes. Additionally, governments in Asia Pacific are heavily investing in digital infrastructure and renewable energy projects, further driving the demand for sophisticated circuit protection solutions. Finally, the growing consumer electronics market in countries like China, India, and South Korea contributes significantly to the region's dominance.

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The eFuse market is served by a mix of large international players with global operational presence and local players with a strong domestic supply network. Analog Devices, Inc. (US), STMicroelectronics (Switzerland), Monolithic Power Systems, Inc. (US), Microchip Technology (US) and Qorvo, Inc. (US) are the market leaders in the EFuse market. These companies use strategies such as acquisitions, sales contracts, product launches, partnerships to increase their market share.

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The B2B economy is witnessing the emergence of $25 trillion of new revenue streams that are substituting existing revenue streams in this decade alone. We work with clients on growth programs, helping them monetize this $25 trillion opportunity through our service lines - TAM Expansion, Go-to-Market (GTM) Strategy to Execution, Market Share Gain, Account Enablement, and Thought Leadership Marketing.

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Marine Engines Market to Observe Strong Growth by 2029 | Caterpillar, Wärtsilä, Man Energy Solutions

According to a research report "Marine Engines Market by Engine (Propulsion and Auxiliary), Type (Two Stroke and Four Stroke), Power Range (Up to 1,000 hp, 1,001-5,000 hp, 5,001-10,000 hp, 10,001-20,000 hp, and Above 20,000 hp), Fuel, Vessel and Region - Global Forecast to 2029" published by MarketsandMarkets, the market size for marine engines is projected to reach approximately USD 15.2 billion by the year 2029, as compared to the estimated value of USD 13.1 billion in 2024, at a Compound Annual Growth Rate (CAGR) of 3.0% over the forecast period.

The marine engines market is propelled by a confluence of factors that influence demand for these powerful workhorses of the maritime industry. The ever-expanding global trade heavily relies on maritime transportation for efficient movement of goods across continents. This translates to a constant need for new vessels and consequently, a growing demand for marine engines of various capacities. Increasing international trade activities, particularly in emerging economies, necessitate the expansion of existing fleets and construction of new ships, further driving the demand for marine engines. Growing environmental concerns and stricter regulations on air and water pollution from maritime vessels are pushing the industry towards cleaner technologies. This creates a demand for new, more fuel-efficient engines that comply with emission regulations, such as those governing sulfur oxide (SOx) and nitrogen oxide (NOx) emissions. The focus on sustainability is leading to increased adoption of alternative fuels like Liquefied Natural Gas (LNG) and biofuels. This, in turn, fuels the development and demand for engines capable of operating on these cleaner fuel sources. Continuous advancements in marine engine technology are leading to the development of more efficient and powerful engines. This translates to reduced fuel consumption, lower operating costs for ship owners, and a smaller environmental footprint. As the maritime industry strives for efficiency and sustainability, marine engine manufacturers will continue to innovate and develop new technologies to meet the evolving needs of this crucial sector.

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Four stroke segment, by Type, to hold the second-largest market in marine engines market.

Four-stroke engines hold the second-largest market share in the marine engines market due to a compelling combination of advantages that cater to a wide range of vessel needs. Compared to traditional two-stroke engines, four-stroke engines offer superior fuel efficiency. This translates to significant cost savings for ship operators, especially for vessels undertaking long journeys or those with frequent stops and maneuvers.  In today's economic climate, fuel efficiency is a top priority, making four-stroke engines an attractive option. Four-stroke engines generate fewer pollutants like nitrogen oxides (NOx) and sulfur oxides (SOx) compared to their two-stroke counterparts. This characteristic aligns perfectly with the growing focus on environmental sustainability and stricter emission regulations in the maritime industry.  Four-stroke engines help ship owners comply with regulations in Emission Control Areas (ECAs) and contribute to cleaner air and water. Manufacturers are constantly innovating four-stroke engine technology. Advancements like common rail injection systems, electronic engine management, and dual-fuel capabilities (LNG or biofuels) are improving efficiency, reducing emissions, and offering more flexibility in fuel options. This positions four-stroke engines as a future-proof solution for the evolving needs of the maritime industry.

Marine gas oil segment, by Fuel, to be the fourth-largest market segment.

Marine Gas Oil (MGO) holds the fourth-largest market share in the marine engine fuel segment for several compelling reasons. MGO offers a good balance between power density and affordability, making it suitable for a wide range of vessel types. Smaller cargo ships and short-sea traders operating on regional routes or within coastal areas benefit from the efficient and readily available MGO compared to heavier fuel oils (HFO) that require more complex handling. MGO provides reliable and clean burning fuel for various fishing vessels and offshore service ships, catering to their operational needs without requiring the immense power output of HFO. MGO's cleaner burning properties contribute to reduced emissions around populated coastal areas and ports, making it a favourable choice for ferries and smaller passenger vessels where environmental concerns are crucial. MGO's widespread availability, applicability across various vessel types, role in regulation compliance for specific regions, and cost-effectiveness for certain routes contribute to its position as the fourth-largest market share holder in the marine engine fuel segment.  While it might be a transitional fuel source, MGO plays a significant role in the current maritime landscape.

Middle East & Africa to emerge as the third-largest marine engines market.

The Middle East & Africa (MEA) region nabs the third-largest market share in the marine engines market, driven by a confluence of factors specific to its geographical and economic landscape. The MEA region sits at a critical crossroads for global maritime trade.  The Suez Canal, a vital passage connecting the Red Sea and Mediterranean Sea, facilitates a significant portion of global seaborne trade. This strategic location necessitates a robust maritime infrastructure, including a large fleet of vessels requiring powerful engines. Economic growth within the MEA region has spurred a rise in intra-regional trade. This translates to a growing demand for smaller and medium-sized vessels equipped with efficient engines for navigating shorter routes within the region. The  MEA region is a major producer of oil and gas. This flourishing sector necessitates a growing fleet of offshore service vessels, platform supply ships, and crew transfer vessels.  These specialized ships rely on reliable and maneuverable engines to support exploration and production activities. Several governments within the MEA region are prioritizing investments in port infrastructure and maritime development. This includes creating new ports, expanding existing facilities, and attracting foreign investment in the maritime sector.  This focus on infrastructure development fuels the demand for new vessels and consequently, marine engines. The Middle East & Africa's position as the third-largest market share holder in the marine engines market stems from its strategic location, flourishing regional trade, government investments, and a mix of modern and aging fleets requiring new or replacement engines. The future of the market will likely witness an interplay between these factors and the adoption of cleaner technologies as the maritime industry strives for sustainability.

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Key Players

Key players in the global marine engines market include Caterpillar (US), Wärtsilä (Finland), Man Energy Solutions (Germany), Rolls-Royce Plc (UK), AB Volvo Penta (Sweden), HDHyundai Heavy Industries Co., Ltd. (South Korea), Mitsubishi Heavy Industries, Ltd. (Japan), Cummins Inc. (US), Daihatsu Diesel Mfg. Co., Ltd. (Japan), and Deutz AG (Germany).

About MarketsandMarkets™

MarketsandMarkets™ is a blue ocean alternative in growth consulting and program management, leveraging a man-machine offering to drive supernormal growth for progressive organizations in the B2B space. We have the widest lens on emerging technologies, making us proficient in co-creating supernormal growth for clients.

The B2B economy is witnessing the emergence of $25 trillion of new revenue streams that are substituting existing revenue streams in this decade alone. We work with clients on growth programs, helping them monetize this $25 trillion opportunity through our service lines - TAM Expansion, Go-to-Market (GTM) Strategy to Execution, Market Share Gain, Account Enablement, and Thought Leadership Marketing.

Built on the ’GIVE Growth’ principle, we work with several Forbes Global 2000 B2B companies - helping them stay relevant in a disruptive ecosystem. Our insights and strategies are molded by our industry experts, cutting-edge AI-powered Market Intelligence Cloud, and years of research. The KnowledgeStore™ (our Market Intelligence Cloud) integrates our research, facilitates an analysis of interconnections through a set of applications, helping clients look at the entire ecosystem and understand the revenue shifts happening in their industry.

Contact:
Mr. Aashish Mehra
MarketsandMarkets™ INC.
630 Dundee Road
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Northbrook, IL 60062
USA : 1-888-600-6441
newsletter@marketsandmarkets.com