NEW YORK, Nov. 27, 2018 (GLOBE NEWSWIRE) -- Global captive power generation market size is expected to exhibit a CAGR of 5.2% from 2018 to 2024. Factors propelling the growth of global captive power generation market include requirement of uninterrupted power supply in energy intensive industries, minimization of losses associated with transmission of electricity from centralized power plants, and high cost of power tariffs. Captive power generation is a crucial turn in power sourcing for industries, as it ensures electricity when grid is unable to provide a consistent supply. The report segments the Graphite bearing market by Components (Combustion Chamber, Gas Turbine, Steam Turbine, Generator, Heat Recovering Boiler, Condenser, Pump, Absorption Chiller, Others), by Type of plant (Gas, Steam, oil, renewable, Others), by Generation (Normal, Cogeneration, Tri-generation, Quad-generation), by Connection (On-Grid, Off-Grid), by Location (On-site, Off-site), by Application (Industrial, Commercial, Residential), and by Region (North America, Europe, Asia-Pacific, South America, Middle East and Africa). The report studies the global captive power generation market over the forecast period (2018-2024).
Captive Power Generation is most suited for industrial applications where industries have to face power cuts during period of peak demand. Captive power plants offer flexibility of power supply through self generation. Moreover, Captive power generation entertains the possibility of co-generation which results in effective utilization of fuels in an efficient manner.
Key Findings from Global Captive Power Generation Market
- Thermal captive power plants are accounted to hold the major share of the captive power generation market in 2017. The rise in demand for captive power generation stems from requirement of uninterrupted power supply in energy intensive industries. Furthermore, cogeneration by using electricity and heat from power plants offers a fuel efficient option for energy intensive industries.
- Demand for Captive Power Generation market was largely generated by metal & minerals and cement industry and is expected to register a CAGR of 5.2% over the forecast period. Industrial applications include electricity production for chemical, metal & minerals, cement, petroleum (refineries), paper, textile, and others. Moreover, ability to tap into renewable energy has made captive generation a lucrative option.
- Geographically, Asia-Pacific region was leading the captive power generation market, in 2017 and is anticipated to be the fastest growing market for captive power generation, over the forecast period. Expanding infrastructure and industrialization, presence of large energy intensive industries are the factors driving the growth of graphite bearings market in the region
- Key players in captive power generation market are Clarke Energy, Dietsmann, ABB, GE, Wartsila, Doosan, Valmet, Cummins, Mitsubishi Hitachi power systems, and Siemens among others.
Captive Power Generation – On-Demand Reliable Power Supply
A captive power plant is set up by a person, association, a co-operative society or an industry to generate electricity for its own consumption. Surplus electricity can be fed or sold to supply grid. Captive power generation incorporates the use of natural gas, oils, bagasse, naptha, coal among others. This allows for a range of options for construction of power plants based on power requirement and availability of fuel. Captive power generation has major applications in energy intensive industries like metal, chemical, cement among many others. Furthermore, competitiveness of the CPG market, non availability of power, reliability on the grid power, and poor quality of the power are the factors that shift the focus of industries towards CPG. The advantages of CPG include reduced distribution and transmission losses, and higher thermal efficiency. Vast demand for power generation in developing countries provides another opportunity to enter the captive power generation market.
Browse full research report with TOC on "Global Captive Power Generation Market Outlook, Trend and Opportunity Analysis, Competitive Insights, Actionable Segmentation & Forecast 2024" at: https://www.energiasmarketresearch.com/global-captive-power-generation-market-outlook/
To purchase report: sales@energiasmarketresearch.com
Captive Power Generation Market- Regional Insight
Asia-Pacific was holding the largest market share of captive power generation market, in 2017 and is expected to dominate the market, throughout the forecast period. Escalating power demand associated with relaxation in cross-subsidy charge on industrial tariffs, uninterrupted and reliable power are the key factors driving growth of the global CPG market. China, India and Japan are the key regional markets in the region offering pool of opportunities for the manufacturers. Europe as one of the key market in the global captive power generation market is expected to generate the demand for captive power plants at healthy rate. Demand for fuel efficient power plants with minimum transmission losses, and regulatory inclination towards renewable alternatives has pushed the market in this region.
About Energias Market Research Pvt. Ltd. -
Energias Market Research launched with the objective to provide in-depth market analysis, business research solutions, and consultation that is tailored to our client’s specific needs based on our impeccable research methodology.
With a wide range of expertise from various industrial sectors and more than 50 industries that include energy, chemical and materials, information communication technology, semiconductor industries, healthcare and daily consumer goods, etc. We strive to provide our clients with a one-stop solution for all research and consulting needs.
Our comprehensive industry-specific knowledge enables us in creating high quality global research outputs. This wide-range capability differentiates us from our competitors.
Contact:
Mr. Alan Andrews
Business Development Manager
For any queries email us: info@energiasmarketresearch.com
To purchase report: sales@energiasmarketresearch.com
Call us: +1-716-239-4915
Visit: https://www.energiasmarketresearch.com/