Bio CHP Market by Feedstock (Food Waste, Plastic Waste, Agriculture Waste, Wood Waste, Animal Waste, Paper Waste, Others), by Prime Mover (Steam Turbine, Gas Turbine, Microturbine, IC Engine, Stirling Engine), by End-User (Healthcare, Hospitality, Commercial Buildings, Airports, Education Institutes, Recycling Facilities, Manufacturing Industry, Waste Treatment Plant, Food & Beverage, Others), by By Geography (North America), by Europe (By Feedstock, By Prime Mover, By End-User, By Country), by Asia Pacific (By Feedstock, By Prime Mover, By End-User, By Country), by Latin America (By Feedstock, By Prime Mover, By End-User, By Country), by Middle East & Africa (By Feedstock, By Prime Mover, By End-User, By Country) Forecast 2024-2032
The Bio CHP Market size was valued at USD 2.44 USD Billion in 2023 and is projected to reach USD 3.53 USD Billion by 2032, exhibiting a CAGR of 5.4 % during the forecast period. Bio CHP or Combined Heat and Power is the generation of electricity and useful heat at the same time using biomass resources. This technology involves the use of organic matter such as; wood chips, agricultural wastes, or biogas to produce energy. Depending on the type of biomass fuel, Bio CHP systems are classified into wood-fired CHP systems, Biogas CHP systems, and CHP systems based on organic wastes. Advantages and characteristics of Bio CHP systems include high energetics due to simultaneous electricity and heat production, low emissions of greenhouse gases as opposed to fossil fuel-based systems as well as the possibility of energy self-sufficiency. Applications can be manifold and they include for example industrial applications, district heating and finally there are commercial buildings where both electricity and heat are needed. It also ensures the practice of sustainable energy by recycling any waste materials that may be incurred into valuable utilities.
Feedstock:
Prime Mover:
End-User:
Aspects | Details |
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Study Period | 2018-2032 |
Base Year | 2023 |
Estimated Year | 2024 |
Forecast Period | 2024-2032 |
Historical Period | 2018-2023 |
Growth Rate | CAGR of 5.4% from 2018-2032 |
Segmentation |
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Aspects | Details |
---|---|
Study Period | 2018-2032 |
Base Year | 2023 |
Estimated Year | 2024 |
Forecast Period | 2024-2032 |
Historical Period | 2018-2023 |
Growth Rate | CAGR of 5.4% from 2018-2032 |
Segmentation |
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Note* : In applicable scenarios
Primary Research
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