Jul 03, 2020 (The Expresswire) -- Global Captive Power Plant Market (2020-2024) report highlights Significant dynamics and in-depth analysis of the market segment with concentrating on factual data, present industry activities, growth opportunities, new product inventions, and market forecast for the future prospective of time along with leading market players, market study based on several regions, and extensive product. Captive Power Plant Market report can function as an assistive reference point for helping individuals as well as businesses from this segment. The leading industry players across the globe are explored in detail in this report. It demonstrates product overview, company summary, and manufacturing cost, capacity, and market shares for most of the participants.
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The objective of the study is to define market sizes of different segments and countries in previous years and to forecast the values to the next Five years. The report is designed to incorporate both qualify qualitative and quantitative aspects of the industry with respect to each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as drivers and restraining factors which will define the future growth of the Captive Power Plant market.
The Captive Power Plant Market business development trends and selling channels square measure analyzed. From a global perspective, it also represents overall industry size by analyzing qualitative insights and historical data.
A captive power plant reduces power transmission losses and provides power reliability. Certain power utilities permit the sale of extra power from this captive plant into the grid, thus making it a source of extra income for industries. These factors have made the captive power plant a popular choice for the industry developers. Since the industrial sector is one of the largest power consuming markets, this sector is likely to contribute to the growth of the captive power generation market over the next five years. Moreover, it is expected to hold a dominating market position during 2018-2023 (the forecast period).
Need for a Reliable Power Supply - Driving the Captive Power Plant Market
Though the power generation industry is well established in most countries, limitations of providing good-quality power, round the clock to the industrial users, force industries to establish captive power plants. Generally, factories are established near the sourcing point of raw materials or mines; not always there is a power plant in the vicinity. If the distance is more then, the cost of transmission has to be borne by the user, along with added expenses due to the technical loss during transmission. Therefore, factory owners try to overcome this problem by establishing a power plant dedicated to their factory in the premises. Even though the factory is able to access power from a nearby power plant, there is no assurance of power reliability. In developing countries, there is a mismatch between demand and supply of power. During peak power demand industry is always the loser, due to the demand to supply power to the public. So, captive-dedicated power source becomes a necessity for the power companies. Energy-intensive industries, like the iron and steel, aluminum, chemicals, cement, paper, and petroleum (refineries), are the major users of captive power. Remote locations of some of these industries and the unreliability of the power supply (especially in developing and underdeveloped countries) are the factors promoting the installation of these plants.
Asia-Pacific to Dominate the Market Growth
In Asia-Pacific, one of the key problems, faced by the industries in many developing as well as under-developed countries, is power availability. There is a need not just for more power generation sources, but also for a stronger grid. The major industrial giants, like India and China, are good examples of the countries with an unreliable power supply. Many countries in this region are characterized by frequent power outages (blackouts and brownouts), which can hinder the economic development. Since the Industrial sector in this region is growing rapidly, relying on the grid power has become difficult for it. These two factors are the biggest reasons behind the region’s fastest captive power market growth.
Rising Energy-intensive Manufacturing Sector of India
In 2016, the global average annual growth rate of the energy-intensive manufacturing sector was around 3.4%, where India was the fastest with nearly 5.4% growth rate, followed by China with about 4.3%. In India, the industries, like steel, coal, chemical, textile, paper, aluminum, and cement, are the largest consumers of the electrical energy. However, at present, a number of industries are relying on their own generation (captive and cogeneration) rather than grid supply, primarily for the reasons, such as non-availability of adequate grid supply, poor quality and reliability of grid supply, high tariff as a result of heavy cross-subsidization. As of December 2017, India had about 40726 MW of the captive power generation capacity and is expected to witness a rise in the number during the forecast period.
Key Developments in the Market
• January 2018: NLC India Ltd has commissioned a 130 MW solar power plant at the 33/110 KV pooling substation in Neyveli, India. The plant is implemented in two blocks of 65 MW each. Bharat Heavy Electricals Ltd (BHEL) was engaged in executing one block of 65 MW with the deployment of indigenous solar modules, while M/s Jakson Engineers Pvt. Ltd was entrusted with executing the second block of 65 MW.
• August 2017: Regulators, from the National Development and Reform Commission (NDRC) and the National Energy Administration (NEA), proposed a series of recommendations to substantially reduce coal consumption in the captive power plants of China.
major players : CLARKE ENERGY Limited, DUCON TECHNOLOGIES Inc., CETHAR Limited, GENERAL ELECTRIC COMPANY, THERMAX Limited, SEPCO ELECTRIC POWER CONSTRUCTION CORPORATION, amongst others.
Reasons to purchase this report
• The drivers, restraints, and opportunities possessed by the global captive power plant market, with in-depth analysis
• The various market perspectives, with the help of Porter’s five forces analysis
• The most dominating end-user industry, with forecast market estimate
• The largest, fastest-growing, and significant regions during the forecast period, with in-depth analysis
• The latest developments, market shares, and strategies that are employed by the major market players
• 3 months analyst support, along with the Market Estimate sheet (in excel).
Customization of the Report
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Covered in this report
The Report Covers the Present Scenario and the Growth Prospects of the Global Captive Power Plant Market for 2020-2024. To calculate the market size, the report considers new installations or sales and subscription payments of Captive Power Plant.
The market is divided into the following segments based on geography:
Global Captive Power Plant Market 2020-2024, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the market landscape and its growth prospects over the coming years. The report also includes a discussion of the key vendors operating in this market.
Growing research activities coupled with new product launches.
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High Opportunity in the Industry
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Complications associated with Captive Power Plant procedures.