Governments in different regions are promotingcogeneration technology through various long-term policies, and financial incentives which drive the market in the upcoming period. Furthermore, presence of a large number of companies offering diverse products and services related to CHP installations is fueling competition in the global CHP installation market. Europe accounts for one of the largest installed bases of cogeneration power plants in the world and continue to dominate the market of combined heat and power (CHP).
The easy availability of natural gas in Europe makes installation relatively easier and more cost-effective. The region is a global leader in micro-CHP engine with innovation and manufacturing centers in Germany, the Netherlands and the U.K. This has been spurring the demand for CHP installations in countries such as Belgium, Germany, Italy, and the Netherlands.