Market Size of UK Combined Heat And Power (CHP) Industry
| Study Period | 2020 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Market Size (2024) | USD 74.08 Million |
| Market Size (2029) | USD 99.74 Million |
| CAGR (2024 - 2029) | 6.13 % |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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UK Combined Heat and Power (CHP) Market Analysis
The UK Combined Heat And Power Market size is estimated at USD 74.08 million in 2024, and is expected to reach USD 99.74 million by 2029, growing at a CAGR of 6.13% during the forecast period (2024-2029).
The market was negatively impacted by COVID-19 in 2020. Presently the market has now reached pre-pandemic levels.
- Over the medium term, growing emphasis on energy-efficient technology that generates electricity and increasing investments in CHP-based power projects are also expected to drive the growth of the market studied.
- On the other hand, geopolitical tensions and increasing natural gas prices are expected to impose challenges on the combined heat and power market in the United Kingdom and may negatively impact the market's growth and are one of the major restraints for the market.
- Nevertheless, increasing demand for distributed power generation and space heating coupled with technological advancements are expected to drive and create significant amount of opportunities for the market players.
