UAE Cogeneration Equipment Market By Fuel Type (Natural Gas, Biogas, Coal, Diesel and Others), By Capacity (Up to 30MW, 31MW to 50MW, Above 50MW), By Technology (Steam Turbine, Gas Turbine, Combined Cycle Gas Turbine and Reciprocating Engine), By Application (Commercial, Industrial and Residential), By Region, Competition Forecast & Opportunities, 2027

The UAE cogeneration equipment market is anticipated to grow at a robust CAGR in the forecast period, 2023-2027. The surging needs to optimize the industrial and commercial energy costs and growing concerns regarding the effect of greenhouse emissions on the environment are the primary factors driving the growth of the UAE cogeneration equipment market. Also, the rise in household income and expenditure capacity of consumers, availability of advanced appliances and equipment, and implementation of strict building energy codes are expected to accelerate the UAE cogeneration equipment market growth over the forecast period.

Increased Environmental Concern Drives the Market Growth

There is high demand for conventional and traditional energy sources across UAE as they are readily found at at low costs. The United Arab Emirates is among the world’s ten largest oil producers and is currently the seventh largest petroleum and other liquids producer in the world. Owing to the presence of large hydrocarbon reserves, UAE is becoming one of the biggest trading centers and most important financial centers in the Middle East. The use of conventional energy sources such as hydrocarbon and coal produce large amounts of harmful emissions, which negatively affect the environment. On a per-capita basis, UAE’s water, energy, and carbon footprints are amongst the highest across the globe. The hot and dry climate in UAE creates the need for the generation of high amounts of energy and imports of goods and products to live comfortably during that situation. It increases the demand for an energy-efficient system to lower environmental degradation. They are important to optimize the performance of power plants. The rise in the investments to expand the existing industrial facilities and enormous industrial development boosts the demand for high process heat to ensure the continuity in operations. Ongoing industrial and commercial activities and the need to replace aging system generation plant, and changes in fuel cost is expected to create growth opportunities for the UAE cogeneration equipment market in the coming years.

Expansion of Commercial and Industrial Infrastructure Supports the Market Growth

The oil and gas industry is the major revenue-generating industry in the country. Leading authorities are taking steps and measures to lower the dependency on the oil and gas sector and diversify the income sources. The creation and maintenance of a sustainable environment and infrastructure come under the National Agenda set up by the government, which was in line with Vision 2021. The government is taking appropriate steps to ensure sustainable development while preserving the environment and achieving a perfect balance between economic and social development. Major power companies are adopting energy-efficient technology to lower the production cost of power, and by implementing cogeneration equipment, both electricity and heat can be produced. Expansion of the industrial facilities and commercial facilities like shopping malls, hospitals, and universities require power, heat, or cooling at a rapid rate is expected to bolster the UAE cogeneration equipment market growth over the next five years.

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Market Segmentation

The UAE cogeneration equipment market is segmented into fuel type, capacity, technology, application, regional distribution, and competitive landscape. Based on fuel type, the market is divided into natural gas, biogas, coal, diesel, and others. Based on capacity, the market is divided into up to 30MW, 31MW to 50MW, and above 50MW. Based on technology, the market is divided into steam turbine, gas turbine, combined cycle gas turbine and reciprocating engine. Based on application, the market is divided into commercial, industrial, and residential. To analyze the market based on the region, the UAE cogeneration equipment market is studied in major regions namely Dubai, Abu Dhabi, Sharjah, and rest of the UAE.

Market Players

Tecogen, Inc., Siemens, General Electric, Kawasaki heavy industries Ltd., Robert BOSCH Gmbh, Clarke Energy, Mitsubishi heavy industries Ltd, A.B. HOLDING S.P.A., 2G Energy AG, Sundrop Fuels Inc., are the major market players operating in the UAE cogeneration equipment market.