CHP Market Size, Share, Industry Analysis, Future Growth, Segmentation, Competitive Landscape, Trends and Forecast 2022-2032

 The global CHP market is expected to garner a market value of US$ 2,091.6 Million in 2022, expected to register a CAGR of 6.4%. The market is projected to surpass a market value of US$ 3,876.5 Million during the forecast period 2022–2032.

  • In May 2022, Caterpillar Inc. announced a three-year project with Minnesota-based District Energy St. Paul to demonstrate a hydrogen-fueled combined heat and power (CHP) system. The project is supported and partially funded by the U.S. Department of Energy and backed by the National Renewable Energy Laboratory. This hydrogen demonstration project will enable the company to evaluate additional hydrogen fuel options for an existing energy-efficient engine, providing even more possibilities for helping our customers meet their climate-related goals and objectives. CHP systems from Caterpillar provide both electricity and heat simultaneously, increasing overall efficiency and reducing exhaust emissions. To assess the potential of a hydrogen-fueled CHP system under real-world operating conditions, power and heat from the demonstration project will integrate into District Energy St. Paul’s electrical and thermal infrastructure.

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