JERSEY CITY, N.J. – Verified Market Research recently published a report, “Distributed Generation Market” By Technology (Reciprocating Engines, Fuel Cells, Solar PV Cells, Wind Turbines), By Application (On-Grid, Off-Grid), By End-User (Residential, Industrial, And Commercial), and By Geography. According to Verified Market Research, the Global Distributed Generation Market size was valued at USD 75.86 Billion in 2020 and is projected to reach USD 182.96 Billion by 2028, growing at a CAGR of 10.43% from 2021 to 2028.
Global Distributed Generation Market Overview
Since the power consumption across the globe has been drastically increased from commercial, industrial as well as residential applications it is necessary nowadays to encourage distributed generations to minimize and manage the centralized power loads. In addition to this, majority of the underdeveloped regions still lacks the sufficient power supplies. This has further escalated the demand for distributed and environment friendly power generation.
Growing environmental consciousness, rising government regulations and GHG emission reduction objectives, and energy demand are driving the market. In addition, increased R&D activities for the development of new technologies are likely to boost market growth. Government schemes and incentives, like as feed-in tariffs in North America and the Asia Pacific, are anticipated to stimulate demand for DEG systems. Government initiatives are aimed at encouraging the installation of such systems in industrial, residential, and commercial settings.
Key Developments in Distributed Generation Market
- In January 2020, Siemens has launched a new MVDC PLUS solution (medium-voltage direct current) from. This has significantly closed the gap between HVDC and local distribution grids.
Key Players
The major key players in the market are Siemens, General Electric, Mitsubishi, Schneider, Caterpillar Power Plants, Doosan Fuel Cell America, Vestas Wind Systems A/S, Rolls-Royce Power Systems AG, Toyota Turbine and Systems Inc., and Capstone Turbine Corporation.
Verified Market Research has segmented the Global Distributed Generation Market On the basis of Technology, End-User, and Geography.
- Distributed Generation Market, By Technology
- Combined Heat and Power (CHP)
- Reciprocating Engines
- Fuel Cells
- Solar PV Cells
- Gas & Steam Turbines
- Wind Turbine
- Distributed Generation Market, By End-User
- Solar PV
- Wind
- Reciprocating engines
- Micro turbines
- Fuel cells
- Gas turbines
- Distributed Generation Market by Geography
- North America
- U.S
- Canada
- Mexico
- Europe
- Germany
- France
- U.K
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- Rest of Asia Pacific
- ROW
- Middle East & Africa
- Latin America
- North America
