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About this market
Increasing adoption of cogeneration plants to drive market growth. Cogeneration plants, also known as combined heat and power (CH P) or distributed generation, produce two or more forms of energy from a single source of fuel simultaneously. Such plants offer higher efficiency rates compared with single-generation plants. The key advantage of cogeneration plants is that they produce additional energy using the waste heat from components such as exhausts of the manufacturing plant to provide electricity and heat for the power plants. analysts have predicted that the captive power generation market in India will register a CAGR of over 5% by 2023.
Market Overview
High industrial power tariff
Electricity is a critical input in every industry, especially in the manufacturing industry. Electricity costs have a substantial effect across the process value chain of the manufacturers and their final products. The high-cost tariffs generally have a negative impact on all the industries that rely on electricity inputs as they increase the competition between domestic manufacturers and international manufacturers. Additionally, it results in passing on the price increment to the end-users, thereby resulting in hiked prices of the manufactured commodities.
Shortage of coal for captive power generation
The captive power generation market in India is heavily dependent on coal, and it accounts for the majority of the fuel used for captive power generation in India. Captive power plant operators have been experiencing a shortage of coal due to factors such as the government's plan of prioritizing the supply of coal for its power production utilities. The shortage of coal adversely affects the operations and jeopardizes the production of various end-products such as steel, cement, aluminum. and fertilizers.
For the detailed list of factors that will drive and challenge the growth of the captive power generation market in India during the 2019-2023, view our report.
Competitive Landscape
The market appears to be fragmented and with the presence of several companies including Essar Steel and Hindalco the competitive environment is quite intense. Factors such as the increasing adoption of cogeneration plants and the expansion of aircraft manufacturing facilities, will provide considerable growth opportunities to captive power generation manufactures. Bharat Heavy Electricals, Essar Steel, Hindalco, Jindal Steel & Power, and Reliance Industries are some of the major companies covered in this report.
Increasing adoption of cogeneration plants to drive market growth. Cogeneration plants, also known as combined heat and power (CH P) or distributed generation, produce two or more forms of energy from a single source of fuel simultaneously. Such plants offer higher efficiency rates compared with single-generation plants. The key advantage of cogeneration plants is that they produce additional energy using the waste heat from components such as exhausts of the manufacturing plant to provide electricity and heat for the power plants. analysts have predicted that the captive power generation market in India will register a CAGR of over 5% by 2023.
Market Overview
High industrial power tariff
Electricity is a critical input in every industry, especially in the manufacturing industry. Electricity costs have a substantial effect across the process value chain of the manufacturers and their final products. The high-cost tariffs generally have a negative impact on all the industries that rely on electricity inputs as they increase the competition between domestic manufacturers and international manufacturers. Additionally, it results in passing on the price increment to the end-users, thereby resulting in hiked prices of the manufactured commodities.
Shortage of coal for captive power generation
The captive power generation market in India is heavily dependent on coal, and it accounts for the majority of the fuel used for captive power generation in India. Captive power plant operators have been experiencing a shortage of coal due to factors such as the government's plan of prioritizing the supply of coal for its power production utilities. The shortage of coal adversely affects the operations and jeopardizes the production of various end-products such as steel, cement, aluminum. and fertilizers.
For the detailed list of factors that will drive and challenge the growth of the captive power generation market in India during the 2019-2023, view our report.
Competitive Landscape
The market appears to be fragmented and with the presence of several companies including Essar Steel and Hindalco the competitive environment is quite intense. Factors such as the increasing adoption of cogeneration plants and the expansion of aircraft manufacturing facilities, will provide considerable growth opportunities to captive power generation manufactures. Bharat Heavy Electricals, Essar Steel, Hindalco, Jindal Steel & Power, and Reliance Industries are some of the major companies covered in this report.
Frequently Asked Questions
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