Cogeneration (also known as combined heat and power systems (CHP)) is a cluster of technologies primarily used for the concurrent generation of electricity and useful heat. The combined heat and power (CHP) systems market is expected to reach a value of US$ 28,412.4 million in 2022 and is projected to grow at a CAGR of 4.7% from 2022 to 2032, reaching a value of US$ 45,123.5 million. The rising need for electricity and power is blamed for growth.
This combined generation of heat and electricity is much more effective than separate generation of electricity and useful heat in a way that CHP systems offers improved energy efficiency, reduced managing cost, low CO2 emission and others. Growing data center capacity as business operate more processes, handle complex analytics with increasing storage requirements for customer data and employing rich media.
Handling of such large data requires continuous supply of reliable power making cogeneration systems of primary importance. Efficiency level for cogeneration systems can reach up to 80 % against separate generation of heat and electricity which provides combined efficiency of 40-50 %. CHP systems for data centers are gaining traction in the market as using such plants as source of data center power leads to energy efficient and substantial cost reduction benefits.
However, another technology commercially available for powering data centers includes fuel cells. Although CHP systems are less efficient than fuel cells but requires lesser fuel to generate the same amount of power and has a win when its ability to supply chilled water is factored. Some of the major benefits offered utilizing CHP systems for data centers are limited reliance over external power supply, increased energy efficiency, low site carbon emission and others.
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The Combined Heat and Power (CHP) systems market is a growing industry that provides solutions for generating heat and electricity simultaneously. Here are some key takeaways:
- Increasing demand: The market for CHP systems is expected to grow due to the increasing demand for energy efficiency and the need to reduce carbon emissions.
- Technological advancements: Advancements in technology, such as micro-CHP systems, have led to the development of more efficient and cost-effective CHP solutions.
- Key players: The CHP systems market is highly competitive, with key players such as General Electric, Siemens AG, Cummins Inc., and Caterpillar Inc. leading the industry.
- Market segmentation: The CHP systems market is segmented based on type, application, and geography. The types include gas turbine, steam turbine, and reciprocating engine CHP systems, while the applications include commercial, industrial, and residential.
- Environmental concerns: CHP systems can help reduce carbon emissions and improve energy efficiency, contributing to environmental sustainability efforts.
- Government regulations: Government regulations and incentives aimed at promoting renewable energy and reducing carbon emissions are expected to drive the growth of the CHP systems market, especially in developed countries.
Global CHP System market for Data Centre: Market Dynamics
Regions with high electricity cost are readily adopting CHP systems primarily to save on their energy cost to provide base load power and using such systems to provide absorption cooling for the facility. Moreover, government initiatives to install CHP systems in data center facilities due to low CO2 emissions is also expected to increase its adoption rate thereby increasing the adoption of CHP system in data centers.
Low economic life of data center IT equipment results in consumer reluctance towards adoption of CHP systems for data centers since these systems have equipment life of around 10-15 years in comparison to economic life of IT equipment which is only 2-3 years.
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Global CHP System market for Data Centre: Key Players
Some of the major players identified across CHP system market for data center includes ENER-G, Korea Electric Power Corporation, National Grid plc, Exelon Corporation, NextEra Energy, Inc., Chubu Electric Power Company, American Electric Power Company, Inc. and others.
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Key Segments Profiled in the Combined Heat and Power (CHP) Systems Industry Survey
Combined Heat and Power (CHP) Systems Market by Data Center Type:
- Telecoms
- ISP’s (internet Service Provider)
- CoLos (Co-located server hosting facilities)
- Server Farms
- Corporate Data Centers
- University/National Laboratory
- Others
Combined Heat and Power (CHP) Systems Market by Facility:
- Less than 200 sq.ft
- 200-700 sq.ft
- 700-1,200 sq.ft
- 1,200-6,000 sq.ft
- More than 6,000 sq.ft.
Combined Heat and Power (CHP) Systems Market by Installation Type:
- Newly Installed Systems
- Retrofit Systems
Combined Heat and Power (CHP) Systems Market by Region:
- North America
- Latin America
- Europe
- Asia Pacific
- Middle East & Africa
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