Published Date: 31-Aug-2022
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According to a new report, published by KBV research, The Global Captive Power Generation Market size is expected to reach $691.4 billion by 2028, rising at a market growth of 5.2% CAGR during the forecast period.
The Industrial market is leading the Global Captive Power Generation Market by End User in 2021; thereby, achieving a market value of $415.8 billion by 2028. Large-scale manufacturing facilities in particular, which are energy-intensive consumers, have encouraged the rise of captive power generation. Additionally, the advantages of long-term solar power plant construction by manufacturing facilities would lower electricity costs and also may earn extra money by selling leftover electricity is a key element driving the market for industrial captive power generation.
The Gas market is exhibiting a CAGR of 6.3% during (2022 - 2028). The surge in the growth of the segment is a result of the cost-efficiency of this type of fuel. A gas-fired power plant is a sort of fossil fuel power station, where the chemical energy held in natural gas, which is primarily methane, is turned into thermal energy, mechanical energy, and then electrical energy.
The Gas Engines market acquired maximum revenue share Global Captive Power Generation Market by Technology Type in 2021; thereby, achieving a market value of $231.3 million by 2028. An internal combustion engine that burns gas fuels, like coal gas, biogas, producer gas, landfill gas, and natural gas is known as a gas engine. There are several uses for gas engines, including mechanical propulsion, cogeneration, and power generation.
The Single market would showcase a CAGR of 5.7% during (2022 - 2028). The rapid surge in the growth of the segment is attributed to the fact that single ownership allows an individual business to leverage the entire output of the captive power plant. Due to this, the production and efficiency of single-ownership captive power plants can be boosted significantly. Therefore, the growth of the segment is expedited.
The North America market dominated the Global Captive Power Generation Market by Region in 2021; thereby, achieving a market value of $237.7 billion by 2028. The Europe market is exhibiting a CAGR of 4.8% during (2022 - 2028). Additionally, The Asia Pacific market would showcase a CAGR of 6.1% during (2022 - 2028).
The market research report has exhaustive quantitative insights providing a clear picture of the market potential in various segments across the globe with country wise analysis in each discussed region. The key impacting factors of the market have been discussed in the report with the elaborated company profiles of 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
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