Porter’s five forces model and SWOT analysis provides a complete overview of the global micro combined heat and power market. The bargaining power of the buyer is low. The reason behind this low bargaining is no significant difference in the technology used while manufacturing these systems. Due to this the buyer can easily shift from one manufacturer to other as the switching costs are minimal. The threat of substitute is low due to the performance of the substitute is inferior. The substitute of the Micro CHP is boiler which cannot match the performance of Micro CHP systems. The threat of new entrants is low due to high initial investments needed for this industry.
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The benefits of micro CHP systems include the easy and efficient product of heat and electricity. Moreover electricity can be generated as the by product of heat generation. Utilization of waste resources and saving of carbon acts as the driving force of this industry. The limiting factor of this industry are rising energy prices and stringent rules imposed by the government in the production of CHP systems. The opportunity lies in the manufacturing of the systems which contribute to the saving of fuel in a better way.
On the basis of technology, the micro combined heat and power market is segmented mainly into five types, namely the current technologies, advanced technologies, related technologies, complementary devices and microchip fuel input. The current technologies best suit the need of thermal and heat generation presently. In this segment the most adopted technology is internal combustion engine. These engines are of robust construction and are more efficient than other, which leads to the wider adoption of this technology.
Micro combined heat and power market can be segmented on the basis of application into commercial and residential sector. The residential sector has adopted this method more than the industrial sector. This method is considered as the substitute for the conventional boilers in the residential sector by saving energy and time.
On the basis of geography the micro combined heat and power market is segmented into North America, Europe, Asia pacific and Latin America, Middle East and Africa (LAMEA). The highest market share is of Asia pacific due to Japan, which has half of the world’s total market share of Micro CHP systems due to their technological advancement, which Japan has exhibited for last few decades.
Top players in global micro combined heat and power market are Cogen micro systems, climate energy LLC, Ceres power holding PLC, BDR thermea group, Clearedge power, Yanmar Co ltd and Valliant group. The most adopted strategy of this market is innovation and launch of new products. Nirvana Energy systems has developed a new micro combined heat and power generation unit called as the Thermo Acoustic Power Stick .
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- Scientific estimations are calculated to project trends for the analysis period of 2020-2021 which determines the complete over view of the micro combined heat and power market.
- Additional focus is provided on trends and opportunities in various geographies, so that companies can make differentiated targeting plans to gain competitive edge
- Porter’s five forces model and SWOT analysis provides the key investment pockets by determining the potency of buyers and suppliers
- Competitive business advantages of micro CHP generation methods over conventional techniques explained in the study conveys market’s potential to concerned companies
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