Captive Power Plants Market Exhibits Higher Growth Prospects during 2018-2026
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Captive power plant market is likely to witness steady growth over the course of the forecast period, on account of growing energy demand from small- and medium-scale industries. The specific benefits that captive power plants offer to small industries are likely to boost investments. Self-generation security, combined with high fuel efficiency are likely to provide an impetus to the growth of the captive power plant during the assessment period.
Installation of captive power plants in aluminum smelting processes is likely to create new opportunities for stakeholders during the assessment period. Aluminum smelting is one of the most energy-intensive units, and energy spend accounts for a significant percentage of the total production process. Even marginal reduction in energy spending can improve the bottom lines of aluminum smelting companies. Among the various alternatives available to aluminum smelting industry, captive power plants offer a feasible option.
Sensing the growing emphasis on thermal efficiency, captive power plant companies are relying on innovations. For example, in the case of aluminum smelting units, super critical thermal power plants may be better suited as compared to subcritical thermal power plants.
Asia Pacific: A Lucrative Market for Captive Power Plants
Asia Pacific continues to be a lucrative market for captive power plants globally. The challenges associated with round-the-clock power supply and lack of sufficient grids in tier II and suburban areas continue to influence small and medium scale industries to focus on self-sufficiency.
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The captive power plant market in Asia Pacific is also likely to witness a fillip on account of broader, macroeconomic factors. The region is home to two fastest growing economies in the world. The unwavering focus on industrialization and infrastructure development has encourage activity in the small- and medium-size industry. These broader developments have also necessitated the need for uninterrupted power supply, which in turn is likely to augur well for the prospects of the captive power plant market players.
The research study offers in-depth insights on the various facets of the market. The report has segmented the market on the basis of type, application, and region. The analysis and forecast has been offered on the basis of type of captive power plant, including diesel, gas, and others.
By application, the key segments in the captive power plant include industrial, commercial, and residential. The key markets covered in the captive power plant market study include North America, Latin America, Asia Pacific, Europe, Middle East, and Africa.
The research study presents a holistic study on the business and product strategies of some of the leading players in the captive power plant market. The business and product strategies of key companies including Ducon Technologies, Samsung C & T Corporation, Clarke Energy, Vedanta Limited, Wartsila, Jindal Power & Steel, and Essar Energy have discussed in the report for the perusal of the readers.
In addition to offering a region-wise analysis, the captive power plant market research study also offers a holistic and comprehensive forecast in key countries. Some of the key countries where the captive power plant market is profiled include the United States, Canada, China, India, Germany, UK, France, Russia, and Italy. The presence of the companies in these countries and market dynamics influencing growth have been studied in detail in the report.
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Captive power generation is the power generation unit that has been set up by an industry or individual for its personal consumption. This might comprise a power generation unit or plant set up by a cooperative society or an association of people for the generation of power mainly for the use of its members. The industrial sector is one of the leading consumers of power and is also expected to