Report Code: A13784 | Pages: 284 | ||
Tables: 114 | Charts: 74 |
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Distributed Energy Generation Market Outlook - 2030
The global distributed energy generation market size was valued at $246.4 billion in 2020, and is forecasted to reach $919.6 billion by 2030, growing at a CAGR of 14.2% from 2021 to 2030. Solar panels, wind turbines and combustion engines are examples of distributed generation technologies that generate electricity at or near the point of usage. Distributed generation can power a single structure, such as a home or company, or it can be part of a micro grid, such as at a big industrial complex, military base, or college campus. Distributed generating can help support the delivery of clean, reliable power to more consumers and reduce electricity losses along transmission and distribution lines when connected to the electric utility's lower voltage distribution lines.
China is one of the major producers of raw materials required for the production of energy generation components. The disruptions in the supply chain due to COVID-19 induced lockdown has moderately impacted the market negatively in 2020 and 2021.
Increase in government policies and greenhouse gas (GHG) emission reduction targets, drive the growth of the distributed energy generation market during the forecast period. Several states and municipal governments are advancing laws to encourage increased deployment of renewable technologies due to the benefits of renewable technology, such as energy security, resiliency, and carbon reductions. Furthermore, increase in R&D initiatives for the development of new technologies are also expected to propel the market growth. Moreover, DEG systems are less expensive than traditional power production techniques. As a result, the need for a clean source of energy, along with the products low cost, is expected to have a favorable impact on market growth throughout the forecasted period. These are some of the distributed energy generation market trends observed globally.
The distributed energy generation market is segmented on the basis of technology, end-use industry, and region. By technology, the market is classified into micro-turbines, combustion turbines, micro-hydropower, reciprocating engines, fuel cells, wind turbines, solar PV and others. By end-use industry, the market is classified into residential, commercial and industrial. On the basis of region, the market is studied across North America, Europe, Asia-Pacific, and LAMEA. Presently, Asia-Pacific accounts for the largest share of the market, followed by LAMEA and Europe.
Distributed energy generation Market, by Technology
The fuel cells segment accounted for the largest share in 2020, while the solar PV segment is projected to grow at the highest CAGR of 18.1%.
Distributed energy generation Market, by End-Use Industry
The industrial segment accounted for the largest share of the distributed energy generation market in 2020.
Distributed energy generation Market, by Region
The Asia-Pacific region is the fastest growing region for distributed energy generation market owing to rising usage of solar PV rooftop arrangements for commercial and residential end-use industry is assessed to be one of the vital trends.
Key Benefits For Stakeholders
Impact Of Covid-19 On The Global Distributed Energy Generation Market
Distributed Energy Generation Market Report Highlights
Aspects | Details |
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By TECHNOLOGY |
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By END USE INDUSTRIES |
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By Region |
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Key Market Players | Capstone Green Energy Corporation, Rolls-Royce plc, Schneider Electric, Vestas, CATERPILLAR, Mitsubishi Electric Corporation, Siemens, Toyota Tsusho Corporation, General Electric, Doosan Heavy Industries & Construction |
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According to the analyst, the global distributed energy generation market is anticipated to witness growth during the forecast period, driven by increased environmental awareness and stringent government policies on reduction in emission of greenhouse gases. The deployment of DEG technologies has increased since 2014 owing to the adoption of supportive government policies, such as Production Tax Credit (PTC) that provides a per-kilowatt-hour tax credit for the electricity generated by DEG resource and Investment Tax Credit (ITC) that allows the tax credit to be taken based on the amount invested instead of the electricity produced. Several states and local governments are advancing policies to encourage greater deployment of renewable technologies due to their benefits, including energy security, resiliency, and emissions reductions.
However, high installation cost and negative environmental effect can have a restraining effect on the growth of the market. Distributed energy generation technologies that involve burning fossil fuels—can produce many types of impacts as larger fossil-fuel-fired power plants, such as air pollution. Also, hybrid energy systems are defined as the integration of several types of energy generation equipment such as electrical energy generators, electrical energy storage systems, and renewable energy sources. Hybrid energy systems may be utilized in grid-connected mode, isolated from grid, and special aims. This is expected to provide growth opportunities for the distributed energy generation market during the forecast period.
A. Manufacturing industries are the potential customers of Distributed Energy Generation industry.
A. The industrial segment accounted for the largest share of the distributed energy generation market in 2020.
A. To get latest version of Distributed Energy Generation market report can be obtained on demand from the website.
A. Increase in government policies and greenhouse gas (GHG) emission reduction targets, and application in hybrid energy systems are some of the driving factors and opportunities in the Distributed Energy Generation Market.
A. Expansion and new product launches are some of the key growth strategies of Distributed Energy Generation Market players.
A. The top ten market players are selected based on two key attributes - competitive strength and market positioning
A. Asia-Pacific region will provide more business opportunities for Distributed Energy Generation market during the forecast period.
A. Major players operating in the global distributed energy generation industry include Siemens, General Electric, Mitsubishi, Schneider, Caterpillar Power Plants, Doosan Fuel Cell America, Vestas Wind Systems A/S, Rolls-Royce Power Systems AG, Toyota Turbine and Systems Inc. and Capstone Turbine Corporation.
A. The report provides in-depth analysis of the global Distributed energy generation market along with the current trends and future estimations.
A. Increase in R&D initiatives for the development of new technologies and greenhouse gas (GHG) emission reduction targets are some of the current trends will influence the Distributed Energy Generation Market in the next few years.
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