열병합발전 장비 시장 규모, 점유율, 성장 분석 : 유형별, 연료 유형별, 용량 범위별, 최종 사용 산업별, 지역별 - 산업 예측(2025-2032년)

Global Cogeneration Equipment Market size was valued at USD 28.3 billion in 2023 and is poised to grow from USD 31.02 billion in 2024 to USD 64.58 billion by 2032, growing at a CAGR of 9.6% during the forecast period (2025-2032).

The growing demand for cogeneration systems is fueled by their ability to enhance energy supply security and reduce costs in the face of rising energy prices and market volatility. Cogeneration plants efficiently generate electricity while utilizing waste heat for heating or cooling, enabling companies and institutions to minimize grid electricity dependency and overall energy expenses. This not only boosts competitiveness but also increases operational efficiency. According to the U.S. Environmental Protection Agency (EPA), cogeneration can achieve a combined efficiency of 65-90%, significantly outpacing traditional power generation methods at 35-40%. A study by the American Council for an Energy-Efficient Economy (ACEEE) indicates that industrial cogeneration systems can deliver energy cost savings of 20-40% compared to conventional grid-supplied power.

Top-down and bottom-up approaches were used to estimate and validate the size of the Global Cogeneration Equipment market and to estimate the size of various other dependent submarkets. The research methodology used to estimate the market size includes the following details: The key players in the market were identified through secondary research, and their market shares in the respective regions were determined through primary and secondary research. This entire procedure includes the study of the annual and financial reports of the top market players and extensive interviews for key insights from industry leaders such as CEOs, VPs, directors, and marketing executives. All percentage shares split, and breakdowns were determined using secondary sources and verified through Primary sources. All possible parameters that affect the markets covered in this research study have been accounted for, viewed in extensive detail, verified through primary research, and analyzed to get the final quantitative and qualitative data.

Global Cogeneration Equipment Market Segments Analysis

Global Cogeneration Equipment Market is segmented by Type, Fuel Type, Captivity Range, End Use Industry and region. Based on Type, the market is segmented into Gas Turbines, Gas Engines, Steam Turbines, Micro-turbines and Others. Based on Fuel Type, the market is segmented into Natural gas, Diesel, Biogas, Biomass and Others. Based on Captivity Range, the market is segmented into Up to 1 MW, 1 to 10 MW, 10 to 50 MW, 50 to 100 MW and 100 MW and above. Based on End Use Industry, the market is segmented into Power Generation, Industrial, Commercial, Residential and Others. Based on region, the market is segmented into North America, Europe, Asia Pacific, Latin America and Middle East & Africa.

Driver of the Global Cogeneration Equipment Market

The Global Cogeneration Equipment market is significantly driven by the concerted efforts of governments worldwide to promote sustainability and enhance energy efficiency. Policies aimed at reducing carbon dioxide emissions and offering financial incentives for renewable energy initiatives are catalyzing the widespread adoption of cogeneration systems, particularly in Europe and North America. These regulations not only support the installation of cogeneration units but also contribute to improved energy efficiency for both commercial and residential sectors. As such, the growing emphasis on eco-friendly energy solutions is a key factor propelling the growth of the cogeneration equipment market on a global scale.

Restraints in the Global Cogeneration Equipment Market

A significant challenge facing the global cogeneration equipment market is the substantial initial capital required to establish these systems. The costs associated with installation and infrastructure for cogeneration units can be prohibitively high, particularly for small businesses and industries, which limits the widespread adoption of this technology. This hurdle is especially pronounced in developing countries, where available resources may be insufficient to support such investments. As a result, the growth and expansion of the cogeneration market may be hindered, preventing many potential users from fully capitalizing on the benefits of this energy-efficient technology.

Market Trends of the Global Cogeneration Equipment Market

The Global Cogeneration Equipment market is witnessing a significant upward trend fueled by the increasing adoption of renewable energy sources, including wind and solar power. As industries seek to minimize their carbon footprints and optimize energy efficiency, integrating these renewables with cogeneration systems has become a strategic imperative. This trend is particularly pronounced in regions like North America and Europe, where robust government incentives and supportive policies for renewable energy adoption are driving investment. Consequently, the cogeneration sector is evolving, focusing on sustainable energy solutions that enhance operational efficiency while addressing environmental concerns. This shift positions cogeneration as a vital component of the clean energy transition.

Table of Contents

Introduction

• Objectives of the Study
• Scope of the Report
• Definitions

Research Methodology

• Information Procurement
• Secondary & Primary Data Methods
• Market Size Estimation
• Market Assumptions & Limitations

Executive Summary

• Global Market Outlook
• Supply & Demand Trend Analysis
• Segmental Opportunity Analysis

Market Dynamics & Outlook

• Market Overview
• Market Size
• Market Dynamics
  • Drivers & Opportunities
  • Restraints & Challenges
• Porters Analysis
  • Competitive rivalry
  • Threat of substitute
  • Bargaining power of buyers
  • Threat of new entrants
  • Bargaining power of suppliers

Key Market Insights

• Key Success Factors
• Degree of Competition
• Top Investment Pockets
• Market Ecosystem
• Market Attractiveness Index, 2024
• PESTEL Analysis
• Macro-Economic Indicators
• Value Chain Analysis
• Pricing Analysis

Global Cogeneration Equipment Market Size by Type & CAGR (2025-2032)

• Market Overview
• Gas Turbines
• Gas Engines
• Steam Turbines
• Micro-turbines
• Others

Global Cogeneration Equipment Market Size by Fuel Type & CAGR (2025-2032)

• Market Overview
• Natural gas
• Diesel
• Biogas
• Biomass
• Others

Global Cogeneration Equipment Market Size by Captivity Range & CAGR (2025-2032)

• Market Overview
• Up to 1 MW
• 1 to 10 MW
• 10 to 50 MW
• 50 to 100 MW
• 100 MW and above

Global Cogeneration Equipment Market Size by End Use Industry & CAGR (2025-2032)

• Market Overview
• Power Generation
• Industrial
• Commercial
• Residential
• Others

Global Cogeneration Equipment Market Size & CAGR (2025-2032)

• North America (Type, Fuel Type, Captivity Range, End Use Industry)
  • US
  • Canada
• Europe (Type, Fuel Type, Captivity Range, End Use Industry)
  • Germany
  • Spain
  • France
  • UK
  • Italy
  • Rest of Europe
• Asia Pacific (Type, Fuel Type, Captivity Range, End Use Industry)
  • China
  • India
  • Japan
  • South Korea
  • Rest of Asia-Pacific
• Latin America (Type, Fuel Type, Captivity Range, End Use Industry)
  • Brazil
  • Rest of Latin America
• Middle East & Africa (Type, Fuel Type, Captivity Range, End Use Industry)
  • GCC Countries
  • South Africa
  • Rest of Middle East & Africa

Competitive Intelligence

• Top 5 Player Comparison
• Market Positioning of Key Players, 2024
• Strategies Adopted by Key Market Players
• Recent Developments in the Market
• Company Market Share Analysis, 2024
• Company Profiles of All Key Players
  • Company Details
  • Product Portfolio Analysis
  • Company's Segmental Share Analysis
  • Revenue Y-O-Y Comparison (2022-2024)

Key Company Profiles

• Siemens AG (Germany)
  • Company Overview
  • Business Segment Overview
  • Financial Updates
  • Key Developments
• General Electric Company (USA)
  • Company Overview
  • Business Segment Overview
  • Financial Updates
  • Key Developments
• Caterpillar Inc. (USA)
  • Company Overview
  • Business Segment Overview
  • Financial Updates
  • Key Developments
• ABB Ltd. (Switzerland)
  • Company Overview
  • Business Segment Overview
  • Financial Updates
  • Key Developments
• Mitsubishi Heavy Industries, Ltd. (Japan)
  • Company Overview
  • Business Segment Overview
  • Financial Updates
  • Key Developments
• Wartsila Corporation (Finland)
  • Company Overview
  • Business Segment Overview
  • Financial Updates
  • Key Developments
• 2G Energy AG (Germany)
  • Company Overview
  • Business Segment Overview
  • Financial Updates
  • Key Developments
• Kawasaki Heavy Industries, Ltd. (Japan)
  • Company Overview
  • Business Segment Overview
  • Financial Updates
  • Key Developments
• MAN Energy Solutions SE (Germany)
  • Company Overview
  • Business Segment Overview
  • Financial Updates
  • Key Developments
• Capstone Green Energy Corporation (USA)
  • Company Overview
  • Business Segment Overview
  • Financial Updates
  • Key Developments
• Cummins Inc. (USA)
  • Company Overview
  • Business Segment Overview
  • Financial Updates
  • Key Developments
• Veolia Environnement SA (France)
  • Company Overview
  • Business Segment Overview
  • Financial Updates
  • Key Developments
• Bosch Industriekessel GmbH (Germany)
  • Company Overview
  • Business Segment Overview
  • Financial Updates
  • Key Developments
• Yanmar Holdings Co., Ltd. (Japan)
  • Company Overview
  • Business Segment Overview
  • Financial Updates
  • Key Developments
• Thermax Limited (India)
  • Company Overview
  • Business Segment Overview
  • Financial Updates
  • Key Developments
• Doosan (South Korea)
  • Company Overview
  • Business Segment Overview
  • Financial Updates
  • Key Developments

Conclusion & Recommendations