Latest News- Captive Power Generation Market in India: Metals and minerals is expected to lead the End-user segment during 2025-2029

The Captive Power Generation Market in India is being driven by High industrial power tariffs

The Captive Power Generation Market in India is expected to grow at a CAGR of 7.9% during 2024 and 2029. During this period, the market is also expected to show a growth of USD 8757.6 million. In the industrial sector of India, cogeneration plants, also referred to as combined heat and power (CHP) or distributed generation systems, offer a significant business advantage. These plants generate multiple forms of energy, such as electricity and heat, from a single fuel source, resulting in enhanced efficiency levels. The key value proposition of cogeneration lies in the utilization of waste heat from manufacturing processes, such as exhausts, to produce additional electricity and heat for power plants. By reusing waste heat, cogeneration plants augment energy production, thereby conserving fuel and reducing operational expenditures (OPEX). Given the importance of heat in industries like fertilizer and textile, effective heat utilization is crucial. Cogeneration plants address this need by optimizing energy production and improving overall efficiency. 

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Which Factors Are Causing a Surge in Market Growth?

The market is segmented based on

• End-user
  • Metals and minerals
  • Sugar
  • Cement
  • Petrochemicals
  • Others
• Fuel Type
  • Coal
  • Diesel
  • Gas
  • Renewables
• Ownership
  • Multiple
  • Single
• Technology
  • Reciprocating engine
  • Diesel generators
  • Combined heat and power (CHP)
  • Gas turbine
  • Steam turbine
• Connectivity
  • On-Grid
  • Off-Grid
• Geography
  • India

According to Technavio, There are several factors that are causing the market to flourish during the forecast period, which are as follows: 

• High industrial power tariffs
• Sale of excess power to open-access trading
• Development of smart cities and industrial corridors

However, the market also witnesses some limitations, which are as follows:

• Shortage of coal for captive power generation
• Intermittency in solar power generation
• Stringent government policies for coal consumption in power sector

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Market Scope in Captive Power Generation Market in India Research Report

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Research Analysis Overview

The Captive Power Generation Market in India encompasses various technologies including Gas-based Power Plants and Coal-based Power Plants. Hybrid Power Systems, Fuel Cells, and Renewable Energy Integration are gaining popularity. Energy Conservation methods like Demand Response, Peak Shaving, Load Shedding, Power Factor Correction, and Harmonics Mitigation are essential. Grid Modernization, Energy Transition, Decentralized Power, Energy Security, and Energy Independence are key trends. Circular Economy, Lifecycle Cost Analysis, and Payback Period are crucial factors in decision-making. Energy Audit Services, Performance Optimization, Asset Management, Contractual Energy Services, and Energy Consulting offer valuable insights. Renewable Energy Development, Distributed Generation Solutions, Microgrid Development, Smart Grid Technologies, Power Electronics, Control Systems, Automation Technologies, Digital Twins, AI, ML, Big Data Analytics, and Cloud Computing are transforming the sector.

Market Research Overview

In the Indian market, Captive Power Plants, also known as On-site or Distributed Generation, play a significant role in Industrial Power Generation. Electric utilities, comprising publicly owned, investor-owned, nationalized entities, and cooperatives, are responsible for the generation, transmission, and distribution of electricity. The value chain of this sector includes developers, technology providers, manufacturers, and end-users. Water utilities, another capital-intensive industry, encompasses infrastructure developers, treatment service/technology providers, equipment manufacturers, and distribution to end-users. Both industries are essential for the timely and safe delivery of water and electric services, including wastewater treatment and renewable energy generation.. Industries are leveraging the products belonging to the market for customer engagement, transactional notifications, and promotional offers.

Technavio Research
Jesse Maida
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