Market Size of Europe Combined Heat and Power Industry
| Study Period | 2021 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2021 - 2022 |
| CAGR | > 8.00 % |
| Market Concentration | Medium |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Europe Combined Heat and Power Market Analysis
Europe's combined heat and power market is expected to record a CAGR of over 8% during the forecast period.
The COVID-19 pandemic affected the market severely in 2020. Presently, the market has reached pre-pandemic levels.
- Over the medium term, the increasing energy demand, lowering energy costs, integration of renewable energy, and reducing carbon emissions are expected to drive the growth of the market studied.
- On the other hand, grid interconnection and significant initial capital investment are expected to hamper the growth of Europe's combined heat and power market during the forecast period.
- Nevertheless, increasing investment in the development of small-sized manufacturing units in the region will likely create lucrative growth opportunities for Europe's combined heat and power market during the forecast period.
- Germany dominates the market and is likely to witness the highest CAGR during the forecast period. This growth is attributed to the increasing investments and supportive government policies in the country.
