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The process of generation of heat and electricity simultaneously, is referred to as combined heat and power generation. This is primarily achieved by burning of fuels such as oil, natural gases, and biofuels.

Rising demand for uninterrupted energy, especially from emerging economies across the globe is a major factor boosting growth of the global combined heat & power market. But, high costs associated with initial setup and use of combined heat & power plants is hampering growth of the market currently.

On the basis of application, the global combined heat & power market is segmented into industrial and residential. The industrial segment is anticipated to witness significant growth over the forecast period, and is expected to register a CAGR of X.X%. Also, residential segment is projected to witness moderate growth over the forecast period.

The global combined heat & power market report has been segmented on the basis of technology, product, fuel, application, and region. On the basis of region, the global combined heat & power market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa.

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The market in Asia Pacific accounted for highest share in terms of revenue in the global market, and is projected to maintain its dominance over the forecast period. This can be attributed to rapid industrialization in countries in the region. Moreover, rising demand for uninterrupted power, especially from emerging economies such as China and India is another major factor anticipated to propel growth of the Asia Pacific market over the forecast period. Revenue from the market in Europe accounted for second-highest share and is closely followed by the markets in Europe, Latin America, and Middle East & Africa respectively. This is attributed to high disposable income and increasing government initiatives for development of power generation and transportation facilities in the region. Furthermore, the market in Asia Pacific is projected to witness significant growth over the forecast period, and is expected to register a CAGR of X.X%. This can be attributed to increasing production of use of natural gas in emerging economies in the region. Also, the markets in Latin America and Middle East & Africa are projected to witness moderate growth over the forecast period.

Prominent players in the global combined heat & power market include Acumentrics Corporation, Ceramic Fuel Cells Limited, Ceres power holding PLC, Climate energy LLC, Cogen Microsystems, ENE Farm, Hexis Ltd, Honda Motor Co. ltd. and Whisper tech.

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