Captive Power Generation Market Significant Growth Over Forecast Period 2021-2027

With the rapid industrialization and technological developments across the globe, there has been a significant rise in demand for electricity and power in the captive power generation market. To meet such huge power demand, silver industries are setting up their captive power generation unit to ensure an uninterrupted power supply. As a result, several industries are shifting towards adoption of captive power generation to gain a competitive edge solution over rising electricity prices which is expected to boost the market in near future. However, the high installation cost and technological complexities are expected to act as a growth barrier to this market.

The market in the Asia-Pacific region is expected to be the largest in terms of share of the global captive power generation market, because of the rapid industrial development and the presence of numerous manufacturing facilities in the region. According to the International Energy Agency’s (IEA) December 2020 reports, the energy generation in China has registered 147.9% relative change (increase in electricity production) as compared to that of 2019. .The market in Europe and North America region is also expected to witness lucrative growth owing to high demand for electricity in the different end user industries of the region.

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Key benefits of the report:

• This study presents the analytical depiction of the global captive power generation industry along with the current trends and future estimations to determine the imminent investment pockets.

• The report presents information related to key drivers, restraints, and opportunities along with detailed analysis of the global captive power generation market share.

• The current market is quantitatively analyzed from 2020 to 2027 to highlight the global captive power generation market growth scenario.

• Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market.

• The report provides a detailed global captive power generation market analysis based on competitive intensity and how the competition will take shape in coming years.

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COVID-19 scenario analysis:

The outbreak of the COVID-19 pandemic severely affected the global captive power generation market.

• Due to the wake of COVID-19 pandemic, the governments of different nations have imposed nationwide lockdowns in order to contain the virus. This has made the manufacturing facilities to lower or even stop their operational activities. As a result the demand for electric power decreased significantly, thereby affecting the captive power generation market.

• Outbreak of COVID-19 has drastically impacted all industries across the globe. The captive power generation industry is among the severely hit industries, owing to its dependence on the China and other Asian markets.

• The captive power industry is composed of different set of equipment such as boilers, heat-exchangers, turbines, and others. The key players of the industry find it difficult to assemble the raw materials during the COVID-19 pandemic that is expected to increase the price of captive power generation market amid the COVID-19 scenario.
Also, attributed to the wake of the COVID-19 pandemic, the captive power generation sectors have witnessed economic crisis and potential global recession due to decreased productivity rates and risk of health infection among workforce.

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