Ocean View, DE -- (SBWIRE) -- 05/19/2020 -- The North America micro CHP market is likely to witness exponential growth in the coming years owing to increasing adoption of smart renewable infrastructure. The demand for micro-combined heat & power systems is rising across power generation power plants due to its energy efficiency and reliability.

In terms of fuel, the natural gas and LPG segment is likely to witness steady growth as the product has found noteworthy application across commercial and residential establishments. Favorable government subsidies and norms to encourage the adoption of micro-combined heat & power plants along with installation of natural gas fired cogeneration tech will lay a positive impact on the market growth.Citing an example, in 2019, the U.S. government launched altered self-generation program in order to increase the consumption of renewable fuels, which includes biofuel and natural gas, by 50% throughout the fuel blend ratio.

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Better product lifecycle, energy efficiency and improved reliability are some of the factors that are likely to complement product demand. In 2018, the BDR Thermea Group introduced a InnoGen micro CHP system which is based on PEM (Proton Exchange Membrane) technology. The system could improve the range of micro-CHP plants in order to limit the growing demand for district power systems. Furthermore, existing technological advancements to minimalize the cost of maintenance and operations and enhanced product efficiency and flexibility will encourage the deployment of fuel cell-based micro CHP.

On the geographical front, the micro combined heat & power market of Canada is estimated to grow at an exponential rate over the forecast timeframe. This growth can be given to growing government inclination towards CHP programs in order to promote the deployment of residential and commercial natural gas micro cogeneration systems. Rise in number of customer opting cleaner fuel-based regeneration systems as well as refurbishment and replacement of fossil fuel-based CHP units will drive micro CHP businesses om Canada. Continuous technological advancements focused on reducing the product’s cost and improving workability under severe conditions will favor regional market share.

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Meanwhile, increasing applicability of micro CHP units throughout commercial infrastructures like business complexes and buildings is anticipated to strengthen the >10 ? 50 kW capacity micro CHP market of North America.

Currently, BDR Thermea, 2G Energy AG, ENER-G Rudox, and General Electric among others are the key players developing micro CHP in North America. As per a research conducted by Global Market Insights, Inc., the North America micro CHP market is estimated to witness a growth rate of nearly 7% by 2026.