- Factors driving the market growth are an expansion in increasing technological advancements and growing demand for distributed energy generation systems.
- Adoption of solar PV modules for power generation is expected to propel demand in the market.
- Market will expand most where there is lack of electricity in rural areas in emerging economies.
Distributed energy generation refers to small scale energy generation units which generate electricity with the help of renewable resources such as solar, wind, etc. to provide electricity during power outages. Implementation of DEG offers power reliability, reduction in the cost of electricity and many other end-user application benefits.
According to Stratistics MRC, the Global Distributed Energy Generation (DEG) market is accounted for $61.64 billion in 2017 and is expected to reach $194.21 billion by 2026 growing at a CAGR of 13.6% during the forecast period. The factors driving the market growth are an expansion in increasing technological advancements and growing demand for distributed energy generation systems. However, increasing the cost of energy generation are restraining the market.
When segmented by End User, the commercial & industrial segment is driven during the forecast period. Increasing adoption of solar PV modules for power generation due to their ability to provide clean energy and quality control is expected to propel the demand for the market. Based on geography, the Asia Pacific in the global scenario has a positive impact on the market due to lack of electricity in rural areas in emerging economies.
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Some of the key players in the Distributed Energy Generation (DEG) market are Ballard Power Systems Inc., Capstone Turbine Corporation, Caterpillar Power Plants, Doosan Fuel Cell America, E.ON SE, Enercon GmbH, First Solar, FuelCell Energy Inc., General Electric (GE), Rolls-Royce PLC, Siemens AG, Suzlon Energy Limited., Toyota Turbine and Systems Inc., Vestas Wind Systems A/S and Yingli Green Energy Holding Co. Ltd.
Products covered in the report are: Biomass Energy, Complex System of Fuel Cell and the Micro Gas Turbine, Geothermal Power Generation, Solar Power Generation, and Wind Power Generation.
Technologies covered in the report are: Wind Turbine, Solar Photovoltaic, Reciprocating Engines, Micro Turbines, Gas & Steam Turbines, Fuel Cells, Combined Heat Power (CHP)
Applications covered in the report are: Off-Grid and On-Grid.
End Users covered in the report are Residential, Commercial & Industrial, and Buildings & Institutions.
Regions are also covered in the report.