With a CAGR of 9.7%, Micro Combined Heat and Power Market Size to Reach USD 7.86 Billion by 2032 | Polaris Market Research [Yahoo! Finance]
Honda Motor Company, Ltd. (HMC)
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Source: Yahoo! Finance
New York, USA, Nov. 13, 2024 (GLOBE NEWSWIRE) -- Micro Combined Heat and Power Market Overview: The micro combined heat and power market size was evaluated at USD 3.43 billion in 2023. The market is expected to increase from USD 3.76 billion in 2024 to USD 7.86 billion by 2032, showcasing a CAGR of 9.7% between 2024–2032. Market Introduction: A micro combined heat and power system or micro-CHP is a technique used in individual homes or building to produce both heat and electricity at the same time, using the same energy source. In most cases, the main focused outcome of the micro-CHP system is heating along with the generation of some amount of electricity. For domestic appliances, in most cases, the ratio of heat generation to electricity generation is 6:1. The difference between a traditional boiler and a micro-CHP is the fact that a micro-CHP system can generate electricity while a traditional boiler cannot. Generally, mains gas or Liquified Petroleum Gas (LPG) is used to
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