열병합발전 장비 시장 규모, 점유율, 성장 분석 : 유형별, 연료종별, 자가소비 범위별, 최종 용도 산업별, 지역별 - 업계 예측(2026-2033년)

Global Cogeneration Equipment Market size was valued at USD 31.02 Billion in 2024 and is poised to grow from USD 33.99 Billion in 2025 to USD 70.78 Billion by 2033, growing at a CAGR of 9.6% during the forecast period (2026-2033).

The global cogeneration equipment market is experiencing growth driven by the increasing demand for energy efficiency and security. As energy prices rise and market fluctuations become more pronounced, cogeneration systems emerge as a cost-effective solution for onsite power and thermal energy generation. These systems, which produce electricity while utilizing waste heat for heating or cooling, enable organizations to decrease reliance on grid electricity, resulting in reduced energy costs and enhanced competitiveness. With reported efficiencies of 65-90%, compared to 35-40% in traditional power generation, cogeneration provides substantial savings for consumers. Industrial systems, in particular, promise energy cost reductions of 20-40% versus conventional grid-supplied energy, reinforcing the appeal of cogeneration in various sectors.

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 market for cogeneration equipment is being driven by a growing emphasis on sustainability and energy efficiency, as governments worldwide implement new legislation and financial incentives. Initiatives aimed at reducing carbon dioxide emissions and promoting renewable energy sources are stimulating the adoption of cogeneration units across regions, particularly in Europe and North America. This regulatory support not only fosters the implementation of these energy-efficient systems but also enhances energy performance within both the commercial and residential sectors. Consequently, the focus on sustainable development is significantly accelerating the demand for cogeneration technology on a global scale.

Restraints in the Global Cogeneration Equipment Market

One of the significant challenges hindering the growth of the global cogeneration equipment market is the substantial initial capital investment required for implementation. The costs associated with installing and establishing cogeneration systems can be prohibitively high, particularly for small businesses or industries. This financial burden limits the widespread adoption of cogeneration technology, especially in regions where economic constraints are more pronounced, such as in developing nations. Consequently, the substantial expenses linked to infrastructure and setup deter many potential adopters, impacting the overall expansion and utilization of cogeneration solutions across various markets.

Market Trends of the Global Cogeneration Equipment Market

The Global Cogeneration Equipment market is witnessing a significant trend characterized by the increasing adoption of renewable energy sources such as wind and solar power. This shift underscores a broader commitment to sustainability, as integrating renewables into cogeneration systems enhances energy efficiency while effectively minimizing carbon footprints. In regions like North America and Europe, robust government incentives further fuel this trend, encouraging the development and deployment of advanced cogeneration technologies. As industries seek to balance energy needs with environmental responsibilities, the synergy between renewable energy and cogeneration is becoming a pivotal driver for market expansion and innovation.

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, 2025
• PESTEL Analysis
• Macro-Economic Indicators
• Value Chain Analysis
• Pricing Analysis

Global Cogeneration Equipment Market Size by Type & CAGR (2026-2033)

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

Global Cogeneration Equipment Market Size by Fuel Type & CAGR (2026-2033)

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

Global Cogeneration Equipment Market Size by Captivity Range & CAGR (2026-2033)

• 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 (2026-2033)

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

Global Cogeneration Equipment Market Size & CAGR (2026-2033)

• 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, 2025
• Strategies Adopted by Key Market Players
• Recent Developments in the Market
• Company Market Share Analysis, 2025
• Company Profiles of All Key Players
  • Company Details
  • Product Portfolio Analysis
  • Company's Segmental Share Analysis
  • Revenue Y-O-Y Comparison (2023-2025)

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