Market Size of Mexico Combined Heat and Power Industry
| Study Period | 2020 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2020 - 2022 |
| CAGR | > 4.80 % |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Mexico Combined Heat and Power Market Analysis
The market for combined heat and power in Mexico is expected to grow at a CAGR of more than 4.8% during the forecast period of 2020 - 2025. Factors such as rising electricity demand and government policies supporting the adoption of combined heat and power (CHP) are expected to drive the market in Mexico over the forecast period. On the other hand, the Mexican economy has been sluggish, mainly due to the lower oil production, tighter fiscal policies, decreased oil prices, and low productivity growth is likely to hinder the market growth.
- Industrial & Utilities based combined heat and power is anticipated to witness significant demand during the forecast period.
- Increasing electric offering and rising application of CHP in various industries like sugar, chemicals & petrochemicals, paper & pulp etc. along with government support is likely to create immense opportunities for the market studied.
- Favorable energy reforms that provide significant opportunities by bringing new power generation is expected to drive the combined heat and power market.
