Global Distributed Generation Market Trends, Demand And Forecast To 2023
Market Research Future published a half-cooked research report on global distributed generation market. The distributed generation market is expected to expand at ~ 10.21% CAGR during the period 2018 to 2023.
Market Highlights
Distributed generation is mostly run on renewable sources of energy, which reduces the dependency on conventional sources of energy for generating electrical power. Distributed generation system also supports the grid during peak hours. Additionally, the resouces are mostly located close to the load area, reducing losses during transmission. Wind energy is a major segment in this market and is estimated to grow at a phenomenol rate during the forecast period.
Based on technology, the market is segmented as geothermal, solar, wind, biogas, fuel cells, and others. Solar segment is estimated to dominate the market during the forecast period due to the declining cost of installing these systems. Considering the application, the market is segmented as standalone off-grid systems, battery based on-grid systems and battery less on-grid systems. Battery based on-grid systems are estimated to dominate the market during the forecast period as surplus energy is not wasted is this system and the grid always has the required energy. Based on end-use, the market is segmented as residential, industrial and commercial.
Market Research Analysis
Europe accounts for the largest market share whereas Asia-Pacific is the fastest growing region.
Region wise, Europe held the largest market share of the global distributed generation market in 2017. It is estimated that Europe region will continue to dominate the market during the forecast period, mainly due to the rising demand for renewable sources of energy. The region has more than 100 geothermal plants producing about 15 TWh of electrical power in 2016. North America is the second largest market, with distributed generation system amounting to about a sixth of the total energy used in the US. It has been estimated that Asia-Pacific region will grow at the highest rate during the forecast period.
GLOBAL DISTRIBUTED GENERATION MARKET 2018-2023
Scope of the Report
This report provides an in-depth analysis of the global distributed generation market, tracking three market segments across four geographic regions. The report studies key players, providing a five-year annual trend analysis that highlights market size, and share for North America, Europe, Asia-Pacific (APAC) and Rest of the World (ROW). The report also provides a forecast, focusing on the market opportunities for the next five years for each region. The scope of the study segments the distributed generation system market by its technology type, application type, end-use type and by region.
By Technology Type
- Geothermal
- Solar
- Wind
- Biogas
- Fuel Cells
- Small Hydro
- Others
By Application Type
- Standalone Off-Grid Systems
- Battery Based On-Grid Systems
- Battery less On-Grid Systems
By End-Use Type
- Residential
- Industrial
- Commercial
By Regions
- North America
- Asia-Pacific
- Europe
- Rest of the World
Key Players
The key players of the global distributed generation market are General Electric Company (US), Ansaldo Energia (Italy), Bloom Energy (US), Schneider Electric SE (France), Caterpillar Inc. (US), Siemens AG (Germany), Mitsubishi Heavy Industries,Ltd (Japan), Fuel Cell Energy Inc (US), Cummins Inc (US), and Bergey Windpower (US).