BANGALORE, India, Sept. 17, 2020 /PRNewswire/ -- According to the Latest Market Research Report "Distributed Generation Market by Technology ( Fuel Cells, Gas Turbines, Micro Turbines, Reciprocating Engines, Solar PV, and Wind), End-User (Off-Grid and On-Grid), by Application (Commercial, Industrial, and Residential), and Region - Global Forecast to 2025", published on Valuates Reports. The Global Distributed Generation Market size is expected to grow from USD 58,904.20 Million in 2019 to USD 118,898.35 Million by 2025 at a CAGR of 12.41% during the forecast period.
Major factors driving the Distributed Generation Market size are increased understanding of renewable energy resources, increased demand for distributed energy generation due to its environmental benefits, low costs compared to traditional energy generation, technical development & innovation, and ease of use.
The Distributed Generation Market report encompasses the market's fundamental dynamics, which include drivers, restraints, opportunities, and challenges faced by the industry.
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TRENDS INFLUENCING THE DISTRIBUTED GENERATION MARKET SIZE
Several government measures to reduce reliance on traditional power generation are expected to drive the Distributed Generation Market size during the forecast period. Distributed energy generation systems, along with energy storage systems, provide clean power through renewable technology such as solar photovoltaic and wind turbines.
Standalone off-grid systems are becoming popular with consumers, as it gives freedom from utility service providers. Off-grid services are typically easier for rural residents relative to the costs involved in having a utility service. Distributed renewable electricity-supported energy generation systems prove useful in delivering low-value and sustainable energy to the population living in the bad grid and off-grid areas. The increase of off-grid systems is expected to fuel the growth of the Distributed Generation Market size.
Extensive research and development, field trials, and demonstration projects have contributed to a decrease in the cost, which in turn has accelerated the growth of the Distributed Generation Market size industry.
However, high initial costs for equipment and technology investment may hamper the distributed market's growth for energy generation.
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DISTRIBUTED GENERATION MARKET SHARE ANALYSIS
Europe is expected to hold the largest distributed generation market share and is preceded by the Asia Pacific and North America. The emphasis of governments in countries such as Germany, the United Kingdom, and Russia on increasing the contribution of renewable energy to the regional electricity mix is expected to fuel demand for distributed generation. In addition, the rise in demand for electricity due to urbanization and industrialization is likely to have an effect on distributed generation growth opportunities in Europe.
Asia Pacific is expected to witness the highest growth during the forecast period. China, India, and Japan are some of the main countries where demand for energy has risen sharply.
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DISTRIBUTED GENERATION MARKET SEGMENTATION & COVERAGE:
This research report categorizes the Distributed Generation to forecast the revenues and analyze the trends in each of the following sub-markets:
BASED ON TECHNOLOGY, THE DISTRIBUTED GENERATION MARKET STUDIED ACROSS
- Fuel Cells,
- Gas Turbines,
- Micro Turbines,
- Reciprocating Engines,
- Solar PV,
- Wind.
BASED ON END USER, THE DISTRIBUTED GENERATION MARKET STUDIED ACROSS
- Off-Grid
- On-Grid.
BASED ON APPLICATION, THE DISTRIBUTED GENERATION MARKET STUDIED ACROSS
- Commercial,
- Industrial,
- Residential.
KEY PLAYERS
The report deeply explores the recent significant developments by the leading vendors and innovation profiles in the Global Distributed Generation Market including
- Ansaldo Energia,
- Bloom Energy,
- Capstone,
- Caterpillar,
- Cummins,
- Fuelcell Energy,
- General Electric,
- Mitsubishi Heavy Industries,
- Schneider Electric,
- Siemens.
THE REPORT PROVIDES INSIGHTS ON THE FOLLOWING POINTERS:
1. Market Penetration: Provides comprehensive information on the market offered by the key players
2. Market Development: Provides in-depth information about lucrative emerging markets and analyzes the markets
3. Market Diversification: Provides detailed information about new product launches, untapped geographies, recent developments, and investments
4. Competitive Assessment & Intelligence: Provides an exhaustive assessment of market shares, strategies, products, and manufacturing capabilities of the leading players
5. Product Development & Innovation: Provides intelligent insights on future technologies, R&D activities, and new product developments
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