Global Captive Power Generation Market: Overview
Power generation is basically a unit that generates power for the personal power consumption of industry or individuals. A captive power generation unit comprises a plant that is set up by an association of people or cooperative society for the purpose of power generation.
Report Scope:
Report Attribute | Details |
---|---|
Base Year | 2020 |
Historic Years | 2016 - 2020 |
Forecast Years | 2021 - 2028 |
Segments Covered | By Product Type, By Application, and By End Use |
Forecast Units | Value (USD Billion), and Volume (Units) |
Quantitative Units | Revenue in USD million/billion and CAGR from 2021 to 2028 |
Regions Covered | North America, Europe, Asia Pacific, Latin America, and Middle East & Africa, and Rest of World |
Countries Covered | U.S., Canada, Mexico, U.K., Germany, France, Italy, Spain, China, India, Japan, South Korea, Brazil, Argentina, GCC Countries, and South Africa, among others |
Number of Companies Covered | 10 companies with scope for including additional 15 companies upon request |
Report Coverage | Market growth drivers, restraints, opportunities, Porter’s five forces analysis, PEST analysis, value chain analysis, regulatory landscape, market attractiveness analysis by segments and region, company market share analysis, and COVID-19 impact analysis. |
Customization Scope | Avail customized purchase options to meet your exact research needs. |
Global Captive Power Generation Market: Growth Factors
One of the major factors that are driving the growth of the global captive power generation market is the growing consumption of power in the industrial sector. Moreover, the prime forces that propel the growth of the global captive power generation market are the rapidly growing industrialization and urbanization all across the globe. There is a significant burgeoning demand for power supply along with the growing prevalence of cross-subsidy surcharge in the cost of 1 unit power generation. The advantages associated with captive power generation are high thermal efficiency, low transformation losses, and reduced distribution. Also, the growing demand for uninterrupted and reliable power supply is likely to positively shape the trajectory of the global captive power generation market during the forecast period. Natural gas and crude oil are not able to keep up with the production of output as required by the end-users. Hence, it is likely to lower the availability of its stock for the power grid which in turn is likely to amplify the role of captive power generation during the forecast period. The growing consumption of electricity in the core industries like steel manufacturing has induced the manufacturers to set up captive power generation plants to fulfill their demand for continuous and reliable power supply. Moreover, the significant spike in the prices of electricity has induced manufacturers to adopt captive power generation. The increasing investments to innovate new products in the market that can fulfill the requirements of end-users to meet their power needs are also bolstering the growth of the global captive power generation market. Moreover, the growing research and development activities to use renewable sources are likely to propel the growth of the global market vigorously during the forecast period. The growth in energy-intensive industries like metal mining and cement processing is boosting the demand for reliable and cost-effective power supplies all across the globe.
Global Captive Power Generation Market: Segmentation
The global captive power generation market can be segmented into fuel, application, and region.
By fuel, the market can be bifurcated into coal, gas, diesel, and others. The diesel fuel segment accounts for the largest share in the global captive power generation market due to its growing demand by manufacturers all across the globe. The other segment including renewable sources is anticipated to witness huge growth during the forecast period.
By application, the market can be segmented into residential, industrial, and commercial. The industrial segment dominates the global market.
Global Captive Power Generation Market: Regional analysis
Asia Pacific holds the largest share in the global captive power generation market owing to the presence of a robust manufacturing base of copper, steel, and aluminum in growing economies like India and China. Moreover, the rapid proliferation of the petrochemical refining sector in the region further boosts the growth of the regional market. The presence of unreliable and poor-quality power resources in the countries like India significantly has contributed to the growth of the regional market.
Europe is expected to witness huge growth during the forecast period due to the high adoption rate of captive power generation by the manufacturers in the region. The growing technological advancements along with the research and development activities in the region further contribute vigorously towards the growth of the regional market.
Global Captive Power Generation Market: Competitive Players
Some of the significant players in the global captive power generation market are Jindal Power & Steel, Essar Energy, Vedanta Limited, Welspun Group, Reliance Industries, Enmas GB Power Systems, SEPCO Electric Power, GE, Wartsila, Clarke Energy, Clarke Energy, L&T Power, Thermax, Samsung C & T Corporation, Cethar Limited, and Ducon Technologies.
Global Captive Power Generation Market: Regional Segment Analysis
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FrequentlyAsked Questions
One of the major factors that are driving the growth of the global captive power generation market is the growing consumption of power in the industrial sector. Moreover, the prime forces that propel the growth of the global captive power generation market are the rapidly growing industrialization and urbanization all across the globe.
Some of the significant players in the global captive power generation market are Jindal Power & Steel, Essar Energy, Vedanta Limited, Welspun Group, Reliance Industries, Enmas GB Power Systems, SEPCO Electric Power, GE, Wartsila, Clarke Energy, Clarke Energy, L&T Power, Thermax, Samsung C & T Corporation, Cethar Limited, and Ducon Technologies.
Asia Pacific holds the largest share in the global captive power generation market owing to the presence of a robust manufacturing base of copper, steel, and aluminum in growing economies like India and China. Moreover, the rapid proliferation of the petrochemical refining sector in the region further boosts the growth of the regional market.
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