The Latin America, Middle East and Africa Captive Power Generation Market would witness market growth of 10.5% CAGR during the forecast period (2022-2028).
A type of distributed generation, captive power plants produce energy near to the point of demand. High fuel economy and a reduction in transmission losses from centralized power plants are made possible by distributed generating. In microgrids, gas engines can be integrated with other power output or storage methods.
If there is a confined supply of gas, gas engines are the perfect captive power sources. This could come through a gas pipeline, but it could also be compressed, liquefied, or biomethane that is brought by vehicle. When employed in a combined heat and electricity configuration, gas-fueled captive power plants have the highest fuel efficiency. Thus, a plant can produce heat as well as power, both of which can be offset.
The type of captive plant that a certain industry intends to set up can vary depending on the industry. For instance, energy-intensive heavy industries like steel, aluminum, and smelting typically install coal-based power plants. In order to best utilize their factory waste, sugar manufacturers often set up bagasse-based operations. Many other businesses, including commercial buildings like malls, office buildings, and hospitals, frequently use diesel generators. Diesel generators are often employed to provide backup power during peak demand.
One of the top ten oil producers in the world is the United Arab Emirates (UAE). According to the International Trade Administration, approximately 96% of the nation's estimated 100 billion barrels of known oil reserves are situated in Abu Dhabi, which is ranked sixth in the world. A daily average of 3.2 million barrels of liquid and petroleum are produced in the UAE. The UAE economy continues to be heavily dependent on hydrocarbons, with 13% of exports and 30% of GDP coming directly from the oil and gas sector.
The Brazil market dominated the LAMEA Captive Power Generation Market by Country in 2021, and would continue to be a dominant market till 2028; thereby, achieving a market value of $14.1 billion by 2028. The Argentina market is exhibiting a CAGR of 11.1% during (2022 - 2028). Additionally, The UAE market would experience a CAGR of 10.2% 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 Brazil, Argentina, UAE, Saudi Arabia, South Africa, Nigeria, and Rest of LAMEA.
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
By Technology Type
By Ownership
By Country
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