— Distributed Generation Market is to grow at 10.21% CAGR by 2023 according to the Global Distributed Generation Market Analysis Report published by Market Research Future. Global Distributed Generation Market by Technology (Geothermal, Solar, Wind, Biogas, Fuel Cells, and Others), Application (On-Grid and On-Grid), End-Use and Regional Forecast till 2023.
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).
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Global Distributed Generation Market Insights:
Demand for Renewable Energy Source to Spur Distributed Generation Market Rise. 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 resources are mostly located close to the load area, reducing losses during transmission.
The global distributed generation market is expected to reach a 10.21% CAGR during the review period (2019-2023). Distributed generation is used mainly to generate electrical power and finds widespread application in cases with renewable energy. The system is fast gaining traction owing to its ability in curbing the loss of electricity during transmission. Its ability to support grid at peak hour is also quite remarkable.
Solar panels have become cost effective and are a major driver for the growth of the global distributed generation market. Additionally, governments around the globe are developing policies to encourage the use of renewable sources of energy, due to their benefits including reduced emissions and energy security. As per the reports from Global Wind Energy Council, there has been a substantial growth in the total wind farms installed globally in 2017. Numerous offshore wind farms that are being developed, majorly contribute to the growth of the global distributed generation market.
As major driver for the distributed generation market, solar panel can be considered. In the renewable energy sector, solar panels are making a mark owing to their easy-to-use features and low installation cost. At the same time, wind energy is getting significant traction. Several offshore wind farms are now installing distributed generation to supply power. In many countries, the fast shift from the conventional sources to renewable sources is expected to substantially aggravate the market growth. At the same time, other eco-friendly measures such as reduced emission and energy security are factors that can squarely impact the market. Due to multiple benefits, governments are now creating opportunity for integration of such a technology.
Distributed Generation Market Regional 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.
The APAC market is expected rise with the fastest CAGR during the forecast period. The region has started installing renewable energy sources which would increase the use of distributed generation.
Global distributed generation market has been segmented based on technology, application, end- use, and region.
Based on the technology type, the distributed generation market consists geothermal, solar, wind, biogas, fuel cells, small hydro, and others. The solar segment is at the helm of the market owing to its cost-affordability. The wind segment is receiving substantial growth as well.
Based on the application type, the distributed generation market includes standalone off-grid systems, battery based on-grid systems, and battery less on-grid systems. The on-grid segment is spearheading the market due to its cost-effectivity and simple operational procedure.
Based on the end-use type, the distributed generation market can be segmented into residential, commercial, and industrial. The commercial segment is benefiting the most.
10.1 General Electric Company (US)
10.1.1 Company Overview
10.1.2 Product/Services Offering
10.1.3 Financial Overview
10.1.4 Key Developments
10.1.6 SWOT Analysis
10.2 Ansaldo Energia (Italy)
10.2.1 Company Overview
10.2.2 Product /Services Offering
10.2.3 Financial Overview
10.2.4 Key Developments
10.2.6 SWOT Analysis
10.3 Bloom Energy (US)
10.3.1 Company Overview
10.3.2 Product /Services Offering
10.3.3 Financial Overview
10.3.4 Key Developments
10.3.6 SWOT Analysis
10.4 Schneider Electric SE (France)
10.4.1 Company Overview
10.4.2 Product /Services Offering
10.4.3 Financial Overview
10.4.4 Key Developments
10.4.6 SWOT Analysis
10.5 Caterpillar Inc. (US)
10.5.1 Company Overview
10.5.2 Product /Services Offering
10.5.3 Financial Overview
10.5.4 Key Developments
10.5.6 SWOT Analysis
10.6 Siemens AG (Germany)
10.6.1 Company Overview
10.6.2 Product /Services Offering
10.6.3 Financial Overview
10.6.4 Key Developments
10.6.6 SWOT Analysis
10.7 Mitsubishi Heavy Industries, Ltd. (Japan)
10.7.1 Company Overview
10.7.2 Product /Services Offering
10.7.3 Financial Overview
10.7.4 Key Developments
10.7.6 SWOT Analysis
10.8 Fuel Cell Energy, Inc. (US)
10.8.1 Company Overview
10.8.2 Product /Services Offering
10.8.3 Financial Overview
10.8.4 Key Developments
10.8.6 SWOT Analysis
10.9 Cummins Inc. (US)
10.9.1 Company Overview
10.9.2 Product /Services Offering
10.9.3 Financial Overview
10.9.4 Key Developments
10.9.6 SWOT Analysis
10.10 Bergey Windpower (US)
10.10.1 Company Overview
10.10.2 Product /Services Offering
10.10.3 Financial Overview
10.10.4 Key Developments
10.10.6 SWOT Analysis
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