At 16.5% CAGR, Global Distributed Energy Generation Market Size Surpass US$ 932.34 Bn By 2030, Forecast Report By CMI

The Distributed Energy Generation Market was at US$ 334.11 Bn in 2021 and is growing to approx US$ 932.34 Bn by 2030, with a CAGR 16.5% between 2022 and 2030.

SANDY, UTAH, UNITED STATES, October 11, 2022 /EINPresswire.com/ -- According to the study, The Global Distributed Energy Generation Market was estimated at USD 334.11 Billion in 2021 and is anticipated to reach around USD 932.34 Billion by 2030, growing at a CAGR of roughly 16.5% between 2022 and 2030.

Distributed Energy Generation Market: Overview

The phrase “distributed generation,” sometimes known as “decentralized generation” or “onsite generation,” refers to the production of energy for independent use onsite. It is mostly produced using environmentally beneficial, pollution-free means, such as solar, wind, and other comparable techniques. It mostly ignores the energy transmission necessary for a big, centralized power-producing facility, such as a coal-fired or nuclear power plant, to produce electricity via the electric grid.

Promoting distributed generators to reduce and control centralized power loads is vital since global power consumption has significantly grown due to commercial, industrial, and residential applications. Additionally, the bulk of the developing world still lacks adequate power due to increased demand for distributed, environmentally friendly electricity production.

Distributed Energy Generation Market: Growth Drivers

The market is driven by increased greenhouse gas (GHG) emission reduction goals, government restrictions, and environmental awareness. Additionally, greater R&D efforts to create novel technologies will promote market expansion. DEG system demand is expected to be boosted by government programs and incentives, including feed-in tariffs in North America and the Asia Pacific. The installation of such systems in industrial, residential, and commercial contexts is encouraged by government programs

The fundamental attribute of distribution energy as a flexible technology, i.e., the potential of the Technology to generate power onsite, is the primary market driver. This Technology permits power production in any area, including homes, businesses, and industrial facilities. Distribution energy is eco-friendly, cost-effective, and offers superior power quality. In addition, it is a more dependable source of energy than oil, gas, and coal.

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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 334.11 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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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.

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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 is segmented as follows:

By Technology

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

By End Use Industries

Residential
Commercial
Industrial

By Geography

North America

The USA
Canada
Mexico
Europe
The UK
Germany
France
Italy
Russia
Rest of Europe

Asia Pacific

China
India
Japan
South Korea
Malaysia
Philippines
Rest of Asia-pacific

Latin America

Brazil
Rest of Latin America
Middle East and Africa
GCC
North Africa
South Africa
Rest of Middle East & Africa

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