Combined Heat and Power (CHP) System for Data Center Market Key Trends & Industry Forecast 2024

According to Persistence Market Research’s recent market outlook – “U.S. Market Study on Combined Heat and Power (CHP) System for Data Center: Commercial End Use Segment Expected to Witness Steady Growth from 2017 to 2024 ,” the combined heat and power (CHP) system for data center market in the U.S. will grow at 3.4% CAGR through 2024. The market in U.S., although estimated to witness moderate growth throughout the assessment period, will continue to hold the highest value share in the global market. Revenue sales of CHP systems for data center will be predominantly high in California, New York, Washington, Texas, and Massachusetts. By 2024, the market for CHP system for data center in the U.S. is likely to reach US$ 277.3 Mn. The overall Y-o-Y growth rate throughout the forecast period is anticipated to be modest, within a range of 3.8%-4.0%.

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“Rising adoption of colocation facilities and growing demand for green data centers are expected to bring in new growth opportunities in the U.S. market for combined heat and power system for data center.”

– Market Research Analyst, Industrial Automation, Persistence Market Research

The report delivers vital insights into the key factors expected to drive the market over the assessment period. These include,

Consumer preference and government support speed up market growth.

Prominently driven by an important consumer shift to CHP systems from conventional power generation systems, the market in the U.S. for combined heat and power system for data center will be further pushed by favorable government initiatives.

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Dropping prices of natural gas and expanding CHP tax incentives favor market growth.

Furthermore, recovering economy and curtailed natural gas prices will escalate the demand for CHP system for data center in the U.S. market. The government’s provision for high tax incentives over CHP systems, which marks a positive sign associated with the market growth.

Large facility size continues to bag over half of the total revenues.

Among all facility sizes, >20,000 sq. ft. size segment is foreseen to maintain the strongest foothold in the U.S. market with over 53% share in terms of value as well as capacity, in 2026. Over the forecast period, this segment is likely to gain around 30 BPS, reaching a value of around US$ 150.0 Mn by 2024 end. The 100-999 sq. ft. size segment will surpass US$ 45.0 Mn in 2024.

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Institutional segment will remain the top end-use consumer for CHP system for data center in the U.S. market.

With a collective value share of nearly 90%, institutional and commercial data centers will continue to be the two leading end-use segments. The individual share of institutional data centers segment will surpass 53% by 2024 end, reaching a value of US$ 149.2 Mn. With over 35% revenue share in 2024, commercial data centers segment is projected to remain the second largest segment in terms of end-use.

Dominance of university laboratories prevails, followed by ISPs.

By application, over one-third share of the total market revenues will be occupied by university laboratories, i.e. over 36% by 2024-end. Internet service providers will also represent a remarkable revenue share of over 25% by the end of forecast period. Whereas, colos and server farms are expected to maintain steady growth throughout the assessment period.

New system installations sway the U.S. market for CHP system – for data center.

Based on installation type, newly installed systems segment will continue to monopolize with over 81% share through 2024, gaining 130 BPS post-2016. Growth of retrofitting segment will however be relatively slower due to higher costs and associated complications.

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GE and Caterpillar remain top market players by 2024 end.

Among the key market players, General Electric Company and Caterpillar Inc. will remain the topmost revenue generators. Other leading companies include Veolia Energy North America, LLC, and Dresser-Rand Group, Inc. Strategic acquisitions and new CHP product development are currently on priority for a majority of players, whereas GE is particularly focusing on development of efficient products and innovative technology.

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