Global Distributed Energy Generation Market Size (2022-2030) Share, Industry Trends, Growth, Challenges, and Forecast: Custom Market Insights

The Global Distributed Energy Generation Market Size was valued at USD 296.78 Billion in 2021 and is expected to reach USD 334.11 Billion in 2022, and is estimated to reach USD 932.34 Billion by the end of 2030 at a CAGR of approximately 16.5% during the forecast period 2022-2030.

The distributed energy generation market constitutes the various distributed energy sources of electrical generation and storage. Unlike centralized power systems, distributed energy generation sources are decentralized and flexible technologies with a capacity of 10 or less than 10 Megawatt. Distributed energy sources account for environmentally friendly and feasible technologies to supply power using different sources such as solar energy, wind energy, fuel cells, etc.

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The Distributed Energy Generation Market: Overview

The distributed sources installation and usage include fuel cells, wind generating units, biomass generators, and all other renewable energy sources. It is advantageous in developing areas still lacking central power, and installing DER units may reduce the power system cost.

The distributed energy sources are used to power a single home, company, military base, college campus, etc. There are two types of distributed energy sources which are virtual and physical. The virtual sources are made of single or mixed types of physical assets widely used for utility purposes.

One of the primary benefits of the distributed energy source over traditional sources can be the control of energy usage and generation, which mitigates extra energy wastage. Along with that, the distributed sources of a wide range of benefits such as communication and controls, aggregation software, metering equipment, and synchronization and connection.

The Distributed Energy Generation Market: Growth Factors

The increased usage of GHG emission reduction targets and government policies are the factors that drive market growth. Apart from that, the immense benefit of renewable energy sources such as carbon reduction, energy resiliency, and energy security support global market growth.

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In addition, the R&D initiatives in developing advanced Technology regarding solar power are likely to drive market growth. The rise in demand for clean energy sources and low-cost production makes DEG systems better than traditional power generation techniques. Due to such reasons, the market is likely to propel in the forecast period.

The government-driven initiatives and programs help the market growth in the industrial, commercial, and residential sectors. On the other hand, the extreme use of coal, oil, and gas in traditional energy generation has led to the rise in renewable energy sources for power generation.

The Distributed Energy Generation Market: Key Insights

A) As per the analysis shared by our research analyst, the Distributed Energy Generation market is estimated to grow annually at a CAGR of around 16.5% over the forecast period (2022-2030).
B) In terms of revenue, the Distributed Energy Generation market size was valued at around USD 296.78 Billion in 2021 and is projected to reach USD 932.34 Billion by 2030. Due to a variety of driving factors, the market is predicted to rise at a significant rate.
C) The main barrier to the market's expansion is the refusal to invest in distributed generating technologies. Switching and transitioning from conventional centralized company models to decentralized business models requires much money, time, and effort.
D) This is because these systems take up a significant amount of space and are often situated closer to the end-user, an approach not supported by many users.
E) For many countries across the world, the supply of power in rural regions continues to be a serious challenge. Due to the limitations on the capacity to transmit power where and when required, the economic growth of already established or developing areas outpaces the extension of the electrical supply in rural areas and other regions experiencing the unavailability of energy.

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The Distributed Energy Generation Market: Regional Landscape

2021 saw the Asia Pacific take the lead in the worldwide market, with a share of over 47%. From 2022 to 2031, the area will continue to increase at the quickest CAGR, maintaining its leadership position. The main driver of market expansion is projected to be the increased need for energy due to expanding population and fast urbanization in nations like India, China, Indonesia, and Malaysia. The nation's metropolitan centers play a significant role in meeting product demand, especially in China. The Chinese market is anticipated to be driven by the rising levels of disposable income in the nation.

The Distributed Energy Generation Market: Key Players

Rolls Royce Power Systems AG
Schneider Electric
Mitsubishi Electric Corporation
Caterpillar Power Plants
Capstone Turbine Corporation
Toyota Turbine and Systems Inc.
Doosan Fuel Cell America
Vestas Wind Systems A/S
Siemens
GE

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The Distributed Energy Generation Market: Segments

By Technology

Micro-turbines
Combustion Turbines
Micro-hydropower
Reciprocating Engines
Fuel Cells
Wind Turbines
Solar PV
Others

By End-Use Industries

Residential
Commercial
Industrial

The Distributed Energy Generation Market: Regions

North America

The U.S.
Canada
Mexico

Europe

France
The UK
Spain
Germany
Italy
Rest of Europe

Asia Pacific

China
Japan
India
Australia
South Korea
Rest of Asia Pacific

The Middle East & Africa

Saudi Arabia
UAE
Egypt
Kuwait
South Africa
Rest of the Middle East & Africa

Latin America

Brazil
Argentina
Rest of Latin America

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This release was published on openPR.