Global Captive Power Generation Market Will Grow at 142.91 GW During 2019-2023 | Technavio
Technavio has announced the release of their research report on the global captive power generation market for the forecast period 2019-2023. This global captive power generation market analysis report segments the market by end-user (metals and minerals, petrochemicals, cement, and others) and geography (APAC, Europe, North America, and ROW).
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Technavio has published a new market research report on the global captive power generation market from 2019-2023 (Graphic: Business Wire)
Global captive power generation market size will grow by almost 142.91 GW during 2019-2023, at a CAGR of more than 3%. The growing demand for CHP plants is a key driver that will boost the growth of the market. CHP, also known as distributed generation or cogeneration plants produce energy simultaneously in the form of both heat and power from a single source of fuel which helps to reduce OPEX and improve the overall efficiency of plants. The growing need for reliable power is encouraging the adoption of many such cogeneration plants. These plants coupled with energy-efficient technologies will support the growth of the global captive power generation market during the forecast period.
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High industrial power tariffs
Industries regularly face unscheduled power outages and staggered power supply. In addition, the increase in tariffs is an added burden to the industries, which increases the overall OPEX of companies. Hence, many organizations are adopting captive power plants for domestic consumption rather than relying on the power grid. Many steel, cement, aluminum, and petrochemical industries have been installing captive power plants to reduce their overall OPEX.
“The captive power generation market in APAC will witness a rapid growth during the forecast period. The strong economic growth in developing countries is contributing to the growth of the market in the region. Similarly, Europe has a strong foothold in sectors such as automobiles, chemicals, and refineries. The region leads the industrial revolution 4.0 owing to its growing infrastructure spend and strategic initiatives in the ICT category. Europe is also focusing on transforming its manufacturing sector to compete in the global market. All these factors will collectively contribute to the growth of the market during the forecast period”, says an analyst at Technavio.
View snapshot of the report for a more detailed overview of the market and the segmentation covered in this report
This global captive power generation industry research report provides an in-depth analysis of the major drivers, upcoming trends, and challenges that will impact market growth over the forecast period. The report analyzes the competitive landscape and offers details on several captive power plant manufacturers including
- ArcelorMittal
- Doosan Corporation
- LafargeHolcim
- Siemens
- Wärtsilä
Some of the key topics covered in the report include:
Market Landscape
- Market ecosystem
- Market characteristics
- Market segmentation analysis
Market Sizing
- Market definition
- Market size and forecast
Five Forces Analysis
Market Segmentation
Geographical Segmentation
- Regional comparison
- Key leading countries
Market Drivers
Market Challenges
Market Trends
Vendor Landscape
- Vendors covered
- Vendor classification
- Market positioning of vendors
- Competitive scenario
About Technavio
Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. Technavio’s report library consists of more than 10,000 reports covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies.
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View source version on businesswire.com: https://www.businesswire.com/news/home/20190424005620/en/
