The Europe Captive Power Generation Market would witness market growth of 4.8% CAGR during the forecast period (2022-2028).
The most searched technologies for establishing captive enterprises are renewable energy sources, particularly wind and solar. There are additional advantages associated with RE that are provided by the federal and state governments, making them a desirable choice for investors. For instance, under a number of government initiatives and policies, several textile businesses installed captive wind power plants. These industries received a capital subsidy for the installation of captive plants. Grid-connected solar systems are also eligible for easier financing, reduced import duties, excise taxes, and tax breaks in addition to the incentives within a number of countries.
Net metering, which entails installing a bidirectional power meter at the user's location and allowing the excess energy produced to be fed into the grid to further reduce expenses, is another advantage of the captive power plant. Captive power offers a more affordable alternative for energy-intensive sectors compared to power from discoms, which levies additional surcharges or cross-subsidies from the industry.
Captive generators have the ability to open access cross-subsidies and surcharges are not applicable to captive plants. Therefore, for the industries where power is a major cost input, this could result in enormous savings. The grid can also benefit from captive power, particularly when there is a power shortage. In order to address the problem of the power deficit, which has significantly decreased, the government has supported captive power generation.
The Production of energy is reducing in the region owing to several factors and is unable to meet the demand. Lower electricity production has been caused by the recent increase in natural gas prices in Europe as a result of increased energy demand, cold periods throughout the region, and slower winds needed to operate wind turbines. The energy crisis that Europe is currently going through highlights the importance of having a variety of energy sources, with captive power generation playing a significant role. To assure on-demand energy supply, attention should be focused on developing storage for variable electricity generation via solar PV and wind farms.
The Germany market dominated the Europe Captive Power Generation Market by Country in 2021, and would continue to be a dominant market till 2028; thereby, achieving a market value of $46.5 billion by 2028. The UK market is anticipated to grow at a CAGR of 3.9% during (2022 - 2028). Additionally, The France market would witness a CAGR of 5.6% during (2022 - 2028).
Based on End User, the market is segmented into Industrial, Commercial, and Residential. Based on Fuel Type, the market is segmented into Coal, Gas, Diesel, and Others. Based on Technology Type, the market is segmented into Gas Engines, Transformers, Turbines, Heat Exchanger, and Others. Based on Ownership, the market is segmented into Multiple and Single. Based on countries, the market is segmented into Germany, UK, France, Russia, Spain, Italy, and Rest of Europe.
Free Valuable Insights: The Global Captive Power Generation Market is Predict to reach $691.4 Billion by 2028, at a CAGR of 5.2%
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Siemens AG, General Electric (GE) Co., Kohler Co., Reliance Industries Limited, Hindalco Industries Ltd. (Aditya Birla Management Corporation Pvt. Ltd.), ArcelorMittal S.A., Wärtsilä Corporation
By End User
By Fuel Type
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