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. Cogeneration, also referred to as combined heat and power (CHP) or distributed generation, is a productive approach to energy generation that extracts multiple forms of energy from a single fuel source. This methodology offers enhanced efficiency levels compared to traditional single-generation plants. The primary advantage of cogeneration lies in its ability to generate additional energy by utilizing the waste heat produced by industrial processes, such as exhausts from manufacturing plants. This waste heat is repurposed to generate electricity and heat for power plants, thereby increasing overall energy production and reducing fuel consumption. This results in improved operational efficiency and a significant decrease in operational expenses (OPEX) for industries that heavily rely on heat, such as fertilizer and textile manufacturing.
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The market is segmented based on
According to Technavio, There are several factors that are causing the market to flourish during the forecast period, which are as follows:
However, the market also witnesses some limitations, which are as follows:
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Market Scope |
|
Report Coverage |
Details |
Page number |
207 |
Base year |
2024 |
Historic period |
2019-2023 |
Forecast period |
2025-2029 |
Growth momentum & CAGR |
Accelerate at a CAGR of 7.9% |
Market growth 2025-2029 |
USD 8757.6 million |
Market structure |
fragmentation |
YoY growth 2024-2025(%) |
7.2 |
Key countries |
India |
Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
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The Captive Power Generation Market in India encompasses various technologies such as 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. Power System Stability, Grid Modernization, Energy Transition, Decentralized Power, Energy Security, and Energy Independence are key trends. Circular Economy, Lifecycle Cost Analysis, Payback Period, Energy Audit Services, Performance Optimization, Asset Management, Contractual Energy Services, and Energy Consulting are crucial for cost-effective operations. Renewable Energy Development, Distributed Generation Solutions, Microgrid Development, Smart Grid Technologies, Power Electronics, Control Systems, Automation Technologies, Digital Twins, Artificial Intelligence (AI), Machine Learning (ML), Big Data Analytics, and Cloud Computing are transforming the industry.
In the Indian market, Captive Power Plants, also known as On-site or Distributed Generation, play a significant role in Industrial Power Generation. These plants enable businesses to produce electricity for their own consumption, reducing reliance on traditional electric utilities. Electric utilities in India consist of publicly owned, investor-owned, and nationalized entities, as well as cooperatives, involved in various aspects of power generation, transmission, and distribution. The water utilities sector comprises water infrastructure developers, treatment service/technology providers, equipment manufacturers, quality testing organizations, and end-users. The Utilities sector, including both electric and water, is capital-intensive, with domestic companies responsible for the reliable and safe delivery of essential services, such as water distribution and electricity generation, including renewable energy sources.. Industries are leveraging the products belonging to the market for customer engagement, transactional notifications, and promotional offers.
Technavio Research
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