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| Distributed Generation Market |
Market Overview:
The global Distributed Generation Market is estimated to be valued at US$ 83.9 Billion in 2021 and is
projected to reach US$ 202.7 Billion
by 2022, with a CAGR of 10.43% during the forecast period 2022-2030, according
to Coherent Market Insights. Distributed generation refers to the generation of
electricity from small-scale power sources located near the end-users. These
sources include renewable energy systems, combined heat and power (CHP)
systems, and microgrids. The key advantages of distributed generation include
increased energy efficiency, reduced transmission and distribution losses,
improved power reliability, and lower carbon emissions. The growing need for
reliable and sustainable power solutions that can supplement the centralized
grid, especially in remote and off-grid areas, is driving the demand for
distributed generation systems.
Market Key Trends:
One of the key trends in the global distributed generation market is the
increasing adoption of renewable energy sources. With the rising concerns of
climate change and the need to reduce greenhouse gas emissions, there has been
a significant shift towards renewable energy generation. Distributed generation
systems, such as solar photovoltaic (PV) panels and wind turbines, are becoming
increasingly popular due to their sustainable and clean energy generation
capabilities. Governments and regulatory bodies across the world are also
promoting the adoption of renewable energy through various incentives and
regulations, further driving the market growth. Additionally, advancements in
energy storage technologies, such as batteries and fuel cells, are enabling the
integration of intermittent energy sources like solar and wind into the
distributed generation systems, thus providing reliable and round-the-clock
power supply. This trend is expected to continue over the forecast period,
driving the growth of the global distributed generation market.
Segment Analysis:
The distributed generation market can be segmented based on technology,
end-user, and region. In terms of technology, the market can be further divided
into solar PV, wind, reciprocating engines, gas turbines, and fuel cells. Among
these, solar PV dominates the market segment due to its widespread adoption and
various advantages such as lower operating costs, environmental friendliness,
and easy installation. Solar PV systems have gained popularity in both
residential and commercial sectors, driving the growth of this segment.
From the end-user perspective, the distributed generation market can be
categorized into industrial, residential, and commercial sectors. The
commercial sector holds a significant share in the market due to the increasing
need for uninterrupted and reliable power supply in various industries such as
healthcare, retail, and hospitality. Industries are increasingly adopting
distributed generation systems to reduce their dependence on grid power and
ensure continuous operations.
Key Takeaways:
The global Distributed
Generation Market Share is expected to witness high growth, exhibiting
a CAGR of 10.43% over the forecast
period (2022-2030). This growth can be attributed to various factors such as
the increasing demand for electricity, rising concerns about climate change,
and the need to reduce greenhouse gas emissions. Distributed generation
provides a decentralized approach to power generation, allowing for efficient
and clean energy production.
In terms of regional analysis, Asia Pacific is expected to be the
fastest-growing and dominating region in the distributed generation market.
This can be attributed to factors such as rapid industrialization,
urbanization, and increasing government investments in renewable energy
projects. Countries like China and India are driving the growth in the Asia
Pacific region, with initiatives and policies promoting the adoption of
distributed generation technologies.
Key players operating in the distributed generation market include Siemens AG,
General Electric, Schneider Electric SE, Mitsubishi Motors Corporation,
Capstone, Activ Solar GmbH, Ballard Power Systems Inc., Fortis Wind Energy, GE
Power & Water, Juwi Inc., Sharp Corporation, Cummins Inc., and Caterpillar
Inc. These players are actively involved in research and development
activities, strategic partnerships, and mergers and acquisitions to expand
their market presence and offer technologically advanced distributed generation
solutions to meet the growing demand.
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