Distributed Energy Generation Market Outlook
According to the report by Expert Market Research (EMR), The Global Distributed Energy Generation Market Size, Share, Analysis, Report and Forecast 2024-2032″, reached a value of approximately USD 101.93 billion in 2023. Aided by the escalating demand for reliable, clean, and efficient power sources and the broadening applications of distributed energy generation across numerous sectors, the market is projected to further grow at a CAGR of 5.60% between 2024 and 2032 to reach a value of USD 139.88 billion by 2032.
Distributed energy generation (DEG), or distributed power generation, refers to a variety of technologies that generate electricity near the end users of power. DEG technologies encompass systems like solar panels, wind turbines, fuel cells, and natural gas-fired microturbines, among others. They offer a wide array of benefits, including increased energy efficiency, improved power reliability and security, and reduced greenhouse gas emissions.
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The rising demand for cleaner, more reliable, and more efficient energy sources is driving the global distributed energy generation market growth. With a heightened focus on sustainability and carbon footprint reduction, there is a substantial shift toward greener power sources. DEG, with its low emissions, high efficiency, and the ability to harness renewable energy, fits perfectly into this transition, leading to a surge in its demand.
The widening applications of DEG across various sectors also significantly contribute to the distributed energy generation market expansion. In the industrial sector, DEG technologies provide a reliable and efficient source of on-site power, reducing reliance on the central power grid. In the residential sector, solar panels and other DEG systems are increasingly used to supplement or replace traditional power sources, fostering energy independence and resilience.
Furthermore, technological advancements play a critical role in propelling the distributed energy generation market development. Breakthroughs focused on improving the performance, efficiency, and cost-effectiveness of DEG technologies make them more attractive for a broader range of applications. For instance, advancements in photovoltaic technology have led to more efficient and affordable solar panels, thus enhancing the overall appeal of DEG.
The regulatory support and incentives provided by various governments worldwide for the adoption of renewable energy and energy-efficient technologies have also significantly boosted the distributed energy generation market. Policies that promote grid decentralisation, net metering, and feed-in tariffs have stimulated investments in DEG technologies, further driving market growth.
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Distributed Energy Generation Market Segmentation
The market can be divided based on technology, application, and region.
Market Breakup by Technology
- Wind Turbine
- Solar Photovoltaic
- Reciprocating Engines
- Fuel Cells
- Gas and Steam Turbine
Market Breakup by Application
- Residential
- Commercial
- Industrial
- Market Breakup by Region
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East and Africa
Distributed Energy Generation Market Competitive Landscape
The EMR report looks into the market shares, plant turnarounds, capacities, investments, and acquisitions and mergers, among other major developments, of the global distributed energy generation companies. Some of the major key players explored in the report by Expert Market Research are as follows:
- Siemens AG
- Vestas Wind Systems A/S
- Caterpillar, Inc
- Capstone Green Energy Corporation
- Doosan Enerbility Co., Ltd
- Rolls-Royce Plc
- The General Electric Company
- Mitsubishi Heavy Industries, Ltd
- Schneider Electric SE
- First Solar, Inc
- Others
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