Distributed Energy Resource Management Market to Develop at 15.78% CAGR by 2027 | Market Research Future (MRFR)

Key companies profiled include Siemens (Germany), General Electric (US), ABB (Switzerland), Doosan Corporation (South Korea), Enbala (Canada), Schneider Electric (France), Open Access Technology International, Inc. (US), Spirae, LLC (US), AutoGrid Systems, Inc. (US), Enel X North America, Inc. (US) and Blue Pillar (US)., among others.

/EIN News/ -- Pune, May 25, 2021 (GLOBE NEWSWIRE) -- Rising Needs to Optimize Grid Performances Drive the DERM Market

Distributed energy resource management (DERM) refers to the distribution grid management. These systems are primarily used to tackle the challenges related to the distribution of electric utilities. The strong market growth attributes to the global energy demand rising with the expanding population and escalating urbanization rate across emerging regions. 

Rising advances in grid infrastructure technologies, alongside the need to provide clean & highly efficient energy supply, are projected to impact market growth positively. Additionally, increasing government focus on integrating DERM for efficient grid management would substantiate the market's growth. The increased renewable power generation, alongside growing government mandates and updated policies, increases the DERM market share. 

Growing complexities in grid networks led by the rising dependence on renewable energy resources support the market. According to Market Research Future (MRFR), the global distributed energy resource management market is poised to grow at an impressive 15.78% CAGR during the review period (2020 to 2027).

On the other hand, high initial installment and maintenance costs of DERM restrain the market growth and impact sales. Manufacturers increasingly focus on reducing the overall manufacturing cost of instruments used in DERM. Also, substantial investments required to increase the grid network capacities pose challenges for market growth. 

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COVID-19 Impact on the DERM Market

The onset of COVID-19 has resulted in the closing of several manufacturing facilities globally, causing huge revenue losses. The pandemic-driven lockdown put a brake on the production of several key components, spiking the prices and lowering the demand for DERM. 

Besides, strict lockdown mandates restricted cross-border trade between countries, another detrimental for the DERM market growth. However, the distributed energy resource management industry is rapidly getting back to normal, witnessing significant demand for energy in industrial sectors worldwide. 

The product demand in the end-use sector is expected to pick up following the uplift of lockdown in many countries. Pandemic-related issues have imposed DERM companies with problems ranging from obtaining components and delivering end products to attracting workers from quarantines. 

Industry Trends

Emerging markets across the globe provide untapped opportunities for the DERM market. Significantly rising pollution levels led by the rapid industrialization and urbanization in developing regions offer lucrative opportunities for global players. Growing government mandates & policy updates, alongside increasing renewable power generation, fosters the market size. Growing complexities in the grid networks due to the dependence on renewable energy resources push the market growth. 

Renewable energy generation witnessed a significant rise over recent years due to the mounting energy demand. The growing awareness for clean energy and renewables, such as biomass, solar, and wind & tide energy, creates substantial market demand. The global energy demand is projected to grow significantly in the years to come due to the ever-increasing population, rapid urbanization & industrialization, growing infrastructure activities, and enhanced access to electricity. 

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Segmentation

The DERM market is segmented based on technology, software, end-use, and regions. The technology segment is sub-segmented into solar PV, energy storage, combined heat & power, wind, and others. Of these, the solar PV segment holds the largest market share, witnessing growing installments due to the cost-efficiencies of solar panels in household applications.  

The software segment is sub-segmented into virtual power plants (VPP), analytics, and management & control. The virtual power plant segment accounts for the largest market share due to increasing concerns regarding energy quality and technological features. The end-user segment is sub-segmented into industrial, government & municipalities, military, commercial, residential, and others.

Regional Analysis

North America leads the global distributed energy resource management market. The region would maintain its leading position throughout the review period. Rise in renewable energy source share and government initiatives to promote the installation of DERM drive the market. Moreover, growing generation capacities of renewable energy sources across the region are expected to increase the demand for DERM in the years to come.

The US distributed energy resource management market has been growing significantly over the past few years. Besides, factors such as the well-grown economy, technological advances, and population drive the regional market growth. The US government has taken several initiatives, such as Residential Renewable Energy Tax Credit, USDA- Rural Energy for America Program (REAP) Grants, and corporate tax incentives, which boost the market growth, promoting the installation of DERM in the country.

Europe holds the second biggest share in the global distributed energy resource management market. The market is majorly driven by the growing awareness regarding environmental safety and the rising focus on increasing renewable energy generation capacities in major countries. Furthermore, countries such as Germany and the UK have set targets to increase the renewable energy generation capacities and the power generation mix. 

Asia Pacific is a sizable market for distributed energy resource management systems. Heightened demand for DERM and growth opportunities presented by residential and commercial sectors allow the region to stay ahead in the global market. Rising pressure to control pollution levels allows excellent market growth. 

Furthermore, significant market expansion of the industrial sector and the presence of leading global players in the region increase the DERM market size. China, Japan, South Korea, and India account for considerable shares in the regional market due to the favorable government policies supporting the Foreign Direct Investments (FDI). 

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Competitive Analysis

The DERM market is experiencing rising strategic deals, such as mergers & acquisitions, expansion, collaboration, and product launches. Key industry players also make strategic investments in research and development activities and fostering their expansion plans. 

For instance, recently, on May 4, 2021, Itron, Inc. (the US), a leading provider of DERM solution used to address peak capacity, load management, and non-wires alternative, announced extending its contract with Southern Maryland Electric Cooperative (SMECO) to deliver demand response program in Maryland. The company is committed to optimizing the benefits of distributed energy resources and their impact on the grids.

Key players involved in the DERM market are Siemens (Germany), General Electric (US), ABB (Switzerland), Doosan Corporation (South Korea), Enbala (Canada), Schneider Electric (France), Open Access Technology International, Inc. (US), Spirae, LLC (US), AutoGrid Systems, Inc. (US), Enel X North America, Inc. (US) and Blue Pillar (US). 

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