Transparency Market Research Report Added "Captive Power Generation Market" to its database.
Albany, NY -- (SBWIRE) -- 07/15/2015 -- Burgeoning power demand coupled with presence of cross-subsidy charge in the per unit power generation cost are the key factors driving growth in the global captive power generation market. Growing power demand worldwide along with the increasing urbanization, industrialization and a growing population is anticipated to boost growth in the global captive power generation market. Captive power generation refers to power generation plant set up by any individual or industry for its own consumption; it may include a power generation plant set up by association of persons or cooperative society for generation of power primarily for use by members of such associations or cooperative. Abysmal quality of power and the need for uninterrupted reliable power is likely to accelerate growth in the global captive generation market. The global captive power generation market is likely to grow at a moderate rate in the future on account of factors mentioned above. Moreover, growing need for assured power supply is likely to fuel an additional growth in the global captive power generation market.
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ndustry sector is one of the largest power consuming sectors and is likely to contribute the most to the growth of the global captive power generation market. The global market for captive generation can be fragmented on the basis of captive generation equipment, application, and technology as well as on the basis of geography to depict an overall picture of the market. Market on the basis of captive power generation equipment can be segmented such as boiler, turbine, generator, heat exchanger, heating ventilating air conditioning, electricity precipitators, transformers, and other captive power generation equipments. On the basis of application, the global captive power generation market can be segmented as aluminum, chemicals, sugar, iron and steel, fertilizer, cement, and power generation among others. Captive power generation market on the basis of technology can be segmented according to the mode of power generation such as renewable, coal, gas, and diesel.
The global captive power generation market is projected to rise at moderate rate in the future. Market's growth is primarily driven by the increasing global power demand along with the rising cost of electricity. The presence of cross-subsidy element in the power tariff increases per unit cost of power generation; it is likely to increase demand for captive power generation around the world. The need for quality and reliable power along with reduced wastes and fuel flexibility is also likely to drive growth in the captive power generation market. Poor reliability and quality along with non-availability of power have forced heavy industries to set up their own captive power generation plants rather than to rely on the power supply from the electricity grid. Increasing investment in renewable energy sources for power generation is likely to drive growth in the renewable captive power generation market. Symbiotic relation of power generation technologies to the manufacturing process is likely to augment growth in the global captive power generation market.
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The global captive power generation market is steadily increasing and is projected to grow at a moderate rate in the future. Asia Pacific accounts for the highest market share in the global captive power generation market; it is also expected to grow at the highest rate in the future. India contributes the most to the growth of Asia Pacific's captive power generation market; poor quality, reliability and non-availability are likely to drive the market's growth in the region.
Some of the key players in the global captive power generation market include Essar Energy, Hindalco, Jindal Steel & Power Ltd., Reliance Industries Limited, Ultratech Cement Limited, and Vedanta Resources.
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Transparency Market Research (TMR) is a U.S.-based provider of syndicated research, customized research, and consulting services. TMR's global and regional market intelligence coverage includes industries such as pharmaceutical, chemicals and materials, technology and media, food and beverages, and consumer goods, among others. Each TMR research report provides clients with a 360-degree view of the market with statistical forecasts, competitive landscape, detailed segmentation, key trends, and strategic recommendations.
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