Asia-Pacific Combined Heat and Power Market Size & Share Analysis - Growth Trends & Forecasts (2025 - 2030)

The Asia-Pacific Combined Heat and Power Market is segmented by Application (Utilities, Commercial and Industrial, and Residential), Fuel Type (Natural Gas, Coal, Oil, Biomass, and Other Fuel Types), and Geography (China, Japan, India, and Rest of Asia-Pacific).

Asia-Pacific Combined Heat and Power Market Size & Share Analysis - Growth Trends & Forecasts (2025 - 2030)

APAC Combined Heat & Power Market Size

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Asia-Pacific Combined Heat and Power Market
Study Period 2020 - 2030
Base Year For Estimation 2024
Forecast Data Period 2025 - 2030
Historical Data Period 2020 - 2023
CAGR 5.90 %
Market Concentration Medium

Major Players

Asia-Pacific Combined Heat and Power Market Major Players

*Disclaimer: Major Players sorted in no particular order

Compare market size and growth of Asia-Pacific Combined Heat and Power Market with other markets in Energy & Power Industry

Oil and Gas

Power

Battery

Decommissioning

Emerging Energy Technologies

Energy Storage Technology

APAC Combined Heat & Power Market Analysis

The Asia-Pacific Combined Heat and Power Market is expected to register a CAGR of greater than 5.9% during the forecast period.

  • Biomass-based combined heat and power are expected to witness the fastest growth during the forecast period.
  • Small-to-medium industrial facilities could benefit from flexible and cost-effective combined heat and power systems. Such systems benefit from conventional combined heat and power but could also provide support to the electricity grid in the form of electricity supply, frequency regulation, and reserve capacity. This, in turn, is expected to create significant opportunities for the combined heat and power system providers and plant developers shortly.
  • China has dominated the combined heat and power market, with the majority of the demand coming from the industrial application of CHP.

APAC Combined Heat & Power Industry Overview

The Asia-Pacific combined heat and power market is moderately fragmented. Some of the key players in this market include General Electric Company, Siemens Energy AG, Mitsubishi Electric Asia Pte Ltd, MAN Energy Solutions SE, and Caterpillar Inc.

APAC Combined Heat & Power Market Leaders

  1. Mitsubishi Electric Asia Pte Ltd

  2. MAN Energy Solutions SE

  3. General Electric Company

  4. Siemens Energy AG

  5. Caterpillar Inc.

  6. *Disclaimer: Major Players sorted in no particular order
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APAC Combined Heat & Power Market News

  • In February 2021, General Electric commissioned the Junliangcheng combined heat and power (CHP) plant that covers the electricity and district heating needs of over 100,000 citizens in Tianjin, China's third-largest city.
  • In February 2021, Siemens Energy signed an agreement with the Guangdong Energy Group to provide F-class gas turbine island equipment for the Zhaoqing Dinghu Combined Heat and Power (CHP) generation project in Dinghu District, Zhaoqing City, Guangdong Province (China). The CHP plant is rated at 2460MW and includes two SGT5-4000F gas turbines, two steam turbines, four generators, two SPPA-T3000 control systems, and related auxiliary equipment.

APAC Combined Heat & Power Market Report - Table of Contents

1. INTRODUCTION

  • 1.1 Scope of the Study
  • 1.2 Market Definition
  • 1.3 Study Assumptions

2. EXECUTIVE SUMMARY

3. RESEARCH METHODOLOGY

4. MARKET OVERVIEW

  • 4.1 Introduction
  • 4.2 Market Size and Demand in USD billion, till 2027
  • 4.3 Recent Trends and Developments
  • 4.4 Government Policies and Regulations
  • 4.5 Market Dynamics
    • 4.5.1 Drivers
    • 4.5.2 Restraints
  • 4.6 Supply Chain Analysis
  • 4.7 Porter's Five Forces Analysis
    • 4.7.1 Bargaining Power of Suppliers
    • 4.7.2 Bargaining Power of Consumers
    • 4.7.3 Threat of New Entrants
    • 4.7.4 Threat of Substitute Products and Services
    • 4.7.5 Intensity of Competitive Rivalry

5. MARKET SEGMENTATION

  • 5.1 Application
    • 5.1.1 Utilities
    • 5.1.2 Commercial and Industrial
    • 5.1.3 Residential
  • 5.2 Fuel Type
    • 5.2.1 Natural Gas
    • 5.2.2 Coal
    • 5.2.3 Oil
    • 5.2.4 Biomass
    • 5.2.5 Other Fuel Types
  • 5.3 Geography
    • 5.3.1 China
    • 5.3.2 Japan
    • 5.3.3 India
    • 5.3.4 Rest of Asia-Pacific

6. COMPETITIVE LANDSCAPE

  • 6.1 Mergers and Acquisitions, Joint Ventures, Collaborations, and Agreements
  • 6.2 Strategies Adopted by Leading Players
  • 6.3 Company Profiles
    • 6.3.1 General Electric Company
    • 6.3.2 Siemens Energy AG
    • 6.3.3 Mitsubishi Electric Asia Pte Ltd
    • 6.3.4 MAN Energy Solutions SE
    • 6.3.5 Caterpillar Inc.
    • 6.3.6 Kawasaki Heavy Industries Ltd
    • 6.3.7 Bosch Thermotechnology GmbH
    • 6.3.8 Viessmann Group
  • *List Not Exhaustive

7. MARKET OPPORTUNITIES AND FUTURE TRENDS

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APAC Combined Heat & Power Industry Segmentation

The Asia-Pacific combined heat and power market report includes:

Application Utilities
Commercial and Industrial
Residential
Fuel Type Natural Gas
Coal
Oil
Biomass
Other Fuel Types
Geography China
Japan
India
Rest of Asia-Pacific
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APAC Combined Heat & Power Market Research FAQs

What is the current Asia-Pacific Combined Heat and Power Market size?

The Asia-Pacific Combined Heat and Power Market is projected to register a CAGR of greater than 5.9% during the forecast period (2025-2030)

Who are the key players in Asia-Pacific Combined Heat and Power Market?

Mitsubishi Electric Asia Pte Ltd, MAN Energy Solutions SE, General Electric Company, Siemens Energy AG and Caterpillar Inc. are the major companies operating in the Asia-Pacific Combined Heat and Power Market.

What years does this Asia-Pacific Combined Heat and Power Market cover?

The report covers the Asia-Pacific Combined Heat and Power Market historical market size for years: 2020, 2021, 2022, 2023 and 2024. The report also forecasts the Asia-Pacific Combined Heat and Power Market size for years: 2025, 2026, 2027, 2028, 2029 and 2030.

Asia-Pacific Combined Heat and Power Industry Report

Statistics for the 2025 Asia-Pacific Combined Heat and Power market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Asia-Pacific Combined Heat and Power analysis includes a market forecast outlook for 2025 to 2030 and historical overview. Get a sample of this industry analysis as a free report PDF download.