Global Distributed Generation Market to Witness CAGR of 10% during 2018-2025
Posted On December 17, 2018
As per the new market study by Value Market Research, the Global Distributed Generation Market was valued USD 62.7 BN (by revenue) in 2018 and is anticipated to reach USD 122.2 BN by 2025 with a CAGR of 10%. The study digs into the historic market data along with analyzing the latest trends and developments thus, providing a holistic view of this market.
This exclusive market study segments the market by type, source, end-use, and region. By type it segregates the market as on grid and off grid. Out of this two on grid segment is dominating owing to the numerous benefits associated with the on-grid distributed generation. Also, rising demand from various manufacturing appliance industries is expected to drive the product demand. Sources include fuel cell, micro turbines, solar PV and combined heat & power. Out of which, solar PV is leading the segment owing to the decrease in the cost of solar installation along with the rising concern over reducing greenhouse emissions are expected to raise the adoption of solar PV technology for the power generation over the forecast period. End-user segment comprises of commercial, residential, and industrial in the report. Industrial segment is dominating the segment owing to the growing large number of various industries coupled with the growing government initiatives in order to promote the adoption of the product across various industries.
The report "Global Distributed Generation Market Report By Type (On Grid And Off Grid), By Source (Fuel Cell, Micro Turbines, Solar PV And Combined Heat & Power) By End-Use (Commercial, Residential And Industrial) And By Regions - Industry Trends, Size, Share, Growth, Estimation And Forecast, 2018-2025"provide detailed information regarding major factors influencing the growth of the market which includes drivers, restraints, opportunities, and industry-specific challenges.
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Distributed generation is an electrical generation and storage performed by a variety of small, grid-connected devices which are known as distributed energy resources (DER), it plays a crucial role in the electric power distribution system. The distributed power generation system has numerous advantages as compared to centralized power generation, which includes operational and strategic benefits. In fact, they also have better power efficiency, which results from offsetting of transmission and distribution losses. Therefore, the installation of this distributed power systems can improve the resiliency of the electricity grid network.
Increasing demand for renewable power generation and rising electricity consumption worldwide are some of the major factors that primarily drive the market growth. Decreasing costs of solar technology and rising initiatives in order to reduce global greenhouse gas emissions are also expected to fuel the industry expansion. The global distributed power generation market is also expected to grow at a significant pace, owing to the evolving landscape, in terms of innovations in technology and government policies, business models, need for energy security, resiliency and reduction in greenhouse gases emissions. Moreover, improvement in grid infrastructure and a reduction in the cost of solar power generation has also provided an impetus growth to distributed power generation globally during the forecast period.
Regional analysis in the report has been done over top-five region which include North America, Europe, Asia-Pacific, Latin America, and the Middle East and Africa. Asia-Pacific is ruling the global distributed generation market owing to the ongoing industrialization, rising demand for electricity coupled with the increasing adoption of solar cell technology across the region. Also, rising government funding in order to improve the grid infrastructure is again fueling market growth.
The Report Segments Global Distributed Generation Market -
- Fuel Cell
- Micro Turbines
- Solar PV
- Combined Heat & Power
- North America
- Latin America
- Middle East and Africa
Major Players Reported:
Ansaldo Energia, Ballard Power Systems, Bloom Energy, Capstone Turbine, General Electric Energy LLC, Ingersoll-Rand plc, JA Solar Holdings Co. Ltd., Sharp Corporation, Siemens AG, Suntech Power Holdings Co. Ltd. and Yingli Green Energy.
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