CAPTIVE POWER PLANT MARKET SIZE AND SHARE ANALYSIS - GROWTH TRENDS AND FORECASTS (2023 - 2030)

Market News

Recent Developments

New product launches

• In March 2022, Cummins launched a 2.5 MW gas-powered captive power plant focused on industrial and commercial consumers in India. It provides reliable and cost-effective power. Cummins Inc. is an American multinational corporation that designs, manufactures, and distributes engines, filtration, and power generation products.
• In January 2021, Clarke Energy commissioned a 6.5 MW captive power plant for JSW Cement in India using efficient gas engines. Clarke Energy is part of the Kohler Company and is a multinational specialist in the sale, engineering, installation and maintenance of power plants that use gas engines.
• In November 2020, Siemens Energy commissioned a 40 MW waste heat recovery-based captive power plant for steel manufacturer ArcelorMittal. Siemens Energy AG is an energy company formed through the spin-off of the former Gas and Power division of Siemens, and it includes full ownership of Siemens Gamesa. Siemens Energy AG is an energy company formed through the spin-off of the former Gas and Power division of Siemens, and it includes full ownership of Siemens Gamesa. Christian Bruch is the CEO, and the former CEO of Siemens AG, Joe Kaeser, is the chairman of the supervisory board.

Acquisition and partnerships

• In September 2022, Wärtsilä partnered with Axpo India to develop captive solar hybrid power plants providing carbon-neutral energy. Wärtsilä Oyj Abp, trading internationally as Wärtsilä Corporation, is a Finnish company which manufactures and services power sources and other equipment in the marine and energy markets.
• In June 2021, CLAAS India acquired a majority stake in VegaWatt Power to expand its renewable energy offerings for captive consumers. CLAAS is an agricultural machinery manufacturer based in Harsewinkel, Germany, in the federal state of North Rhine Westphalia. Founded in 1913 by August Claas, CLAAS is a family business and one of the market and technology leaders in harvesting technology.
• In April 2020, Yanmar acquired a 45% equity stake in Himoinsa to extend its captive and rental power business globally. Yanmar Co., Ltd. is a Japanese diesel engine, heavy machinery and agricultural machinery manufacturer founded in Osaka, Japan in 1912.