Distributed Energy Generation Market Size Is Predicted To Reach $573.7 Billion By 2025: Grand View Research, Inc.

Grand View Research, Inc. – Market Research And Consulting.
According to report published by Grand View Research, the global distributed energy generation (DEG) market size is expected to reach USD 573.7 billion by 2025.Growing requirement for clean energy sources to reduce greenhouse gas emissions is anticipated to propel market over the forecast period.

According to a report by Grand View Research, Inc.; the global distributed energy generation (DEG) market is anticipated to reach USD 573.7 billion by 2025. Growing requirement for clean energy sources to reduce greenhouse gas emissions is anticipated to propel market over the forecast period (2014 to 2025). These systems offer electricity generated from distributed renewable systems at low operating and per unit electricity costs. Such systems can eliminate need for building transmission capacity to reduce line cost.

Growing awareness regarding environmental benefits of using DEG systems among consumers can fuel growth of market. Continual advancements such as floating solar photovoltaics (PV) can positively influence market expansion. Falling cost of solar PV modules can surge demand for DEG over the next few years. Favorable government policies such as net metering are likely to boost installations in rural and underdeveloped areas. This, in turn, can stimulate growth of market during the forecast period.

The worldwide distributed energy generation (DEG) market can be segregated on the basis of technology, application, and region. Based on technology, the market can be categorized into reciprocating engines, fuel cells, wind turbine, solar photovoltaic, gas and steam turbines. Wind turbine segment is likely to witness significant CAGR from 2017 to 2025 owing to rising environmental concerns.

Full Research Report On Distributed Energy Generation (DEG) Market Analysis: https://www.grandviewresearch.com/industry-analysis/distributed-energy-generation-industry

North America DEG market size, by technology, 2014 - 2025 (USD Billion)

In 2016, solar photovoltaic (PV) accounted for 21% of global market share and is anticipated to grow at CAGR of 16.8% over the forecast period. Gradual reduction in production cost of solar PV systems can fuel its demand over conventional energy generation systems.

In 2016, fuel cell accounted for market share equivalent to USD 59.61 billion. It is likely to emerge as the dominant application segment over the forecast period. Fuel cells can convert chemical energy into electrical energy and have low emission levels. This factor is anticipated to propel adoption of distributed energy generation in the forthcoming years.

Based on application, the market can be classified into residential and commercial and industrial. In 2016, commercial and industrial segment accounted for the largest market share. Growing adoption of solar PV modules for electricity generation attributed to their ability to provide clean and quality power can surge demand over the forecast period. In addition, continual advancements can lead to high capacity utilization factor. This, in turn, can fuel demand for solar PV installations in institutions and buildings.

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Global DEG market revenue share, by application, 2016 (%)

Regional segmentation includes Europe, North America, Asia Pacific, Central and South America, and Middle East and Africa. In 2016, Asia Pacific dominated the market and accounted for the largest market share. It is likely to grow at similar pace until 2025. Lack of electricity in emerging economies such as India can positively influence market.

Europe is expected to witness significant CAGR over the forecast period Owing to introduction of attractive schemes introduced by local governments such as feed-in-tariff (FIT) and net metering. North America is predicted to grow well during the forecast period attributed to high demand for wind turbines and solar PV. High penetration of industrial facilities such as refining, chemical paper, metals, food processing, and commercial facilities is expected to further fuel regional demand for distributed energy generation.

Most Central and South American countries are in initial phase of development. Thus increasing requirement for energy in the region is anticipated to bode well for the DEG market. Pace of development in these economies largely depends on energy consumption. Hence, growing need for industrialization, lack of grid connectivity, and development are likely to create growth opportunity for the market over the forecast period.

Some of the leading companies in the distributed energy generation (DEG) market are Capstone Turbine Corporation, Caterpillar Power Plants, Rolls-Royce Power Systems AG, Doosan Fuel Cell America, and Suzlon Energy Limited. The market is competitive in nature owing to presence of a high number of market players. Companies are likely to invest in Research and Development (R&D) activities to develop innovative products and to gain traction among consumers.

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About Grand View Research

Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.

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