The Global Micro CHP Market is expected to grow by USD 5.35 billion, exhibiting a CAGR of 18.69% between 2023 and 2028. This growth is attributed to the rising global energy demand and ongoing technological advancements in the sector. Micro-CHP systems, which generate heat and electricity from a single source, are gaining popularity as a decentralized energy solution. However, the high upfront costs of these systems present a challenge to market expansion. Technavio reports that the increased focus on sustainability and energy efficiency is driving the demand for Micro-CHP solutions. Additionally, technological improvements, such as higher system efficiency and the integration of renewable energy sources, are accelerating market growth. To overcome the hurdle of high initial investments, governments and industry players are exploring financing strategies like partnerships and online platforms, making these systems more affordable and accessible.
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