Residential and commercial construction projects are on the rise in developing countries, and developed countries have a significant impact on stationary power generation. An increase in infrastructure activities will escalate the demand for steel and cement. The growing demand for these raw materials for infrastructure development will drive the demand for captive power generation to meet the needs of the growing construction market trends. Rapid innovation in renewable energy sources and government regulation to go zero carbon by 2050 are the key drivers of capital investment in solar, tidal, and wind. However, continuous fluctuations in the prices of crude oil and the political impact on the export of crude oil and related petroleum products hamper the growth of the captive power generation market.
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Rapidly growing demand for power to run power-consuming manufacturing industries across developing and developed countries is one of the major factors fueling the demand for the Captive power generation market. The surge in industrialization and urbanization across developing countries and the shift in the movement of individuals from the rural to urban areas led to the rise in the construction sector which has positive impact on the power-consuming industries such as cement manufacturing industries, iron & steel manufacturing industry, and other chemical industries have led to the development of captive power generation market. The increase in the cost price of industrial electricity and the need for an uninterrupted power supply in order to avoid losses and provide services to the consumers; in addition to this, the rapid innovation in the development of renewable energy resources and the government support for the renewable energy resources will provide ample opportunities for the.
A captive power generation plant, also known as a self-generating plant, is a facility that produces electricity used and managed by industrial or commercial energy consumers for their own energy consumption. It can operate off-grid or can be connected to the grid to trade in excess electricity. Capacity power plants are commonly used by energy-intensive industries where the continuity and quality of the power supply are crucial, such as aluminum smelters, steel mills, chemical plants, and other factories. Solar PV innovation and investment will significantly reduce costs and enable less energy-intensive industries to economically disconnect from the grid by combining solar power with an electricity generator or cogeneration unit with battery systems.
The global captive power generation market is segmented into technology type, fuel type, ownership, end use, and region.
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Depending on the technology type, the market is categorized into the heat exchanger, turbines, gas engines, transformers, and others. In terms of value, the gas engines segment accounted for the largest share in 2020. On the basis of fuel type, the global captive power generation market is categorized into diesel, gas, coal, and others. In terms of value, the coal segment accounted for the largest share in 2020.
By ownership type, the market is bifurcated into single and multiple. In terms of value, multiple segments accounted for the largest share in 2020. The end uses of the captive power generation market include residential, commercial, and industrial. In terms of value, the industrial segment accounted for the largest share in 2020.
Region-wise, the market is studied across North America, Europe, Asia-Pacific, and LAMEA. North America accounted for the largest share of the market in 2020, with Asia-Pacific being the fastest-growing region. The major companies profiled in this report include ADC LLC, ArcelorMittal S.A., Clarke Energy, General Electric Company, Hindalco, Kohler Co., PBS Group, Reliance Industries, Siemens, and Wartsila.
In addition to the abovementioned companies, Bharat Heavy Electrical, Doosan Corporation, Essar Steel, Thermax, and NALCO India are competing for the share of the market through product launches, joint ventures, partnerships, and expanding the production capabilities to meet the future demand for the captive power generation in the forecast period.
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Key findings of the study
- By region, Asia-Pacific accounted for the largest market share in 2020.
- By Technology type, the gas engine segment holds the largest market share in 2020.
- By Fuel Type, the coal segment holds the largest market share in 2020.
- By ownership, the multiple ownership segment holds the largest market share in 2020.
- By End-use, the industrial segment accounted for the largest captive power generation market share in 2020.
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