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Distributed Energy Generation Market Trends To Reach $573.7 Billion By 2025: Grand View Research, Inc.

"Grand View Research, Inc. - Market Research And Consulting."
The global distributed energy generation (DEG) market size is expected to reach USD 573.7 billion by 2025, according to a new report by Grand View Research, Inc. Increasing consumer awareness about clean energy resources is likely to boost demand for distributed energy generation systems in the forthcoming years.

According to a report published by Grand View Research, Inc.; the global Distributed Energy Generation (DEG) market is expected to reach a valuation of around USD 573.7 billion by 2025. Supportive government schemes to install DEG systems in residential, commercial, and industrial applications due to their environmental benefits can drive market over the forecast period (2014 to 2025).

Increasing consumer awareness about clean energy resources is likely to boost demand for distributed energy generation systems in the forthcoming years. Renewable energy plays an important role in controlling greenhouse gas emissions. Electricity generated by these systems is majorly preferred over conventional energy systems due to low operating cost. Increasing innovations like floating solar photovoltaic is expected to boost market growth. Declining costs of solar photovoltaic (PVs) is considered as the key market driver. Increasing use of solar PV rooftop systems for residential as well as commercial applications is anticipated to be bode well for market growth over the forecast period.

The worldwide Distributed Energy Generation (DEG) market can be segmented on the basis of technology, application, and region. Based on technology, the market can be categorized into reciprocating engines, wind turbine, solar photovoltaic, fuel cells, and gas and steam turbines. In 2016, wind turbine held market share of over 29.0% in terms of revenue. Advantages such as redundant safety, quiet operation, and high efficiency are expected to drive growth of this segment in the forthcoming years. In 2016, solar photovoltaic segment held around 21.0% share of the total market in terms of volume. It is likely to expand at a CAGR of nearly 16.8% over the forecast period. Fall in prices is the key driving factor.

Full Research Report On Distributed Energy Generation (DEG) Market Analysis:

North America DEG market size, by technology, 2014 - 2025 (USD Billion)

As per application, the market can be classified into residential and commercial and industrial. The latter dominated the market in terms of demand. Growing implementation of solar PV modules due to their capability to provide clean and quality power is expected to boost adoption of DEG in commercial and industrial sector over the forecast period. Rising cost of electricity and supportive government regulations are anticipated to bode well for overall market growth in near future.

Geographically, the market can be divided into North America, Europe, Asia Pacific, Central and South America, and Middle East and Africa. Asia Pacific is likely to continue showcasing rapid growth and remain a major contributor in terms of revenue during the forecast period. Shortage of electricity in rural areas of emerging countries. Is anticipated to propel demand for distributed energy generation systems. India is expected to exhibit high growth in the years to come. Europe is anticipated to exhibit healthy growth owing to government schemes such as net metering and feed-in tariff (FIT).

Browse More Reports Of This Category By Grand View Research At:

Global DEG market revenue share, by application, 2016 (%)

North America is one of the attractive markets for DEG systems. The region has high demand for wind turbines and solar PV owing to high demand for energy in industrial facilities such as refining, chemicals paper, food processing, commercial facilities, and metals. Supportive government policies are also expected to play a crucial role in driving the regional market. Events such as long-term extension of tax credits in U.S., and improvement in energy policies in Canada are projected to give a fillip to adoption of DEG systems.

Most Central and South Americas countries are in early developmental phases. This factor is anticipated to bode well for the market for distributed energy generation over the forecast period. Factors such as increasing requirement for sustainable development, nonexistence of grid connectivity, energy auctions in Mexico, and industrialization are anticipated to further fuel regional market over the forecast period.

Key companies operating in the distributed energy generation (DEG) market include FuelCell Energy Inc.; Sharp Corporation; Rolls-Royce Power Systems AG; Toyota Turbine and Systems Inc.; and Capstone Turbine Corporation. Most companies are concentrating on research and development (R&D) activities. Stern competition is responsible for the declining prices of DGE systems. Prices are expected to drop further due to increasing innovation. Vendors are making use of carbon fibers to manufacture wind turbine blades. This is expected to cut the cost of wind energy generation and uplift turbine efficiency.

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About Grand View Research

Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.

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