North America CHP Market Size, Share, Growth Analysis, By Fuel(Natural Gas, Coal, Biomass, and Others), By Technology(Combined Cycle, Steam Turbine, Gas Turbine, Reciprocating Engine), By Region - Industry Forecast 2024-2031

The US is the largest contributor of the North American CHP market and thus holds the largest market share. Its dominance can be credited to several reasons. One of the reasons is the country’s flourishing and expansive commercial and industrial sector. Others include the region’s emphasis on sustainable and efficient energy, along with a developed energy infrastructure. The United States is a hub for CHP producers and distributors as its government has put out several incentives to support higher adoption rate of CHP systems. The country houses a ranging landscape of energy sources, from gas to waste heat, which only strengthen its place in the North American CHP market.

Following closely behind, Canada is the fastest-growing region in the CHP market in North America. The demand for CHP systems has grown exponentially in this country. The Canadian government’s focus on energy efficiency and reduced emission rates has fueled this demand and growth. The federal and provincial levels have established incentive programs and CHP favorable regulations to promote market growth. This is in alignment of industries and commercial spaces targeting sustainability. The economic and environmental advantages provided by these systems has driven market growth in Canada.