Press Release

India Combined Heat & Power (CHP) System Market to Surpass $ 160 Million by 2023

Increasing trend of carbon credit by reducing carbon emissions, expanding chemical and petrochemical industries, and growing demand for decentralized power generation to fuel India combined heat & power system market through 2023 

According to TechSci Research report, “India Combined Heat & Power System Market By Prime Mover, By Capacity, By End Use, Competition Forecast & Opportunities, 2013 - 2023’’, India combined heat & power (CHP) system market is projected to reach $ 161 million by 2023. Growing demand for decentralized power, increasing demand for cogeneration from the industrial sector and stringent government regulations for carbon emissions are among the key factors expected to fuel the CHP system market in India in the coming years. Moreover, during the forecast period, government initiatives aimed at the promotion of biogas and non-bagasse cogeneration systems in the form of incentives and tariff subsidies would steer growth in India CHP system market. Bharat Heavy Electricals Limited, Siemens Ltd. and Thermax Limited are the leading CHP system market players currently operating in India.

Browse 15 market data Tables and 53 Figures spread through 106 Pages and an in-depth TOC on "India Combined Heat & Power System Market”

In terms of capacity, combined heat & power systems with above 10 MW capacity dominate the market as they are majorly used in refineries and chemical & petrochemical sectors. Western and southern India are the largest demand generating regions for combined heat & power systems in the country, on account of the presence of sugar, chemical & petrochemical, refinery, paper & pulp and cement industries in these regions coupled with supportive government initiatives such as Green Energy Corridor. Gas & steam turbine segment captured the largest share, in terms of value, in India combined heat & power system market in 2017 and is likely to maintain its market dominance during the forecast period.

“As per IEA, India had a potential of about 30 GW of combined heat & power systems in 2017 and it is expected to increase to around 85 GW by 2030, backed by growing number of CHP installations in refinery & petrochemical, sugar mill and other industrial sectors. Mostly gas & steam turbine prime movers are used in the combined heat & power systems in these industrial sectors in India, as they offer a large power generating capacity as compared to other types of prime movers.”, said Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm.

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India Combined Heat & Power System Market By Prime Mover, By Capacity, By End Use, Competition Forecast & Opportunities, 2013 - 2023” has evaluated the future growth potential of India combined heat & power system market and provides statistics and information on market size, structure and future market growth. The report intends to provide cutting-edge market intelligence and help decision makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges and opportunities in India combined heat & power system market

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