Industry Outlook & Trend Analysis
The Distributed Energy Generation market was worth USD 126.67 billion in 2014 and is expected to reach approximately USD 439.37 billion by 2023 at a CAGR of 14.82%. In comparison with the conventional systems, DEG systems are more cost-effective, safe and eco-friendly. The DEG market is driven by escalating energy demands of consumers due to technological innovations. Additionally, the urge to restrain the increasing global warming and greenhouse gas emissions are further advancing the market development. The DEG systems are decentralized, modular & flexible. Since these stations are located close to the load they serve, the cost of energy transmission can be reduced contrasting to the conventional power stations.
Type Outlook & Trend Analysis
Based on type, the DEG Market is fragmented as Combined Heat Power (CHP), Fuel cells, Hybrid Power Stations, Micro CHP, Micro turbines, Photovoltaic (PV) cells, reciprocating engines, small wind power plants, Micro turbines, Sterling engines or a combination of any of the above. Amongst these CHP & PV technology are major contributors to the DEG market segment followed by wind power, Micro turbines & fuel cells. With expanding interest for clean energy, the renewable resources section is foreseen to rule the DEG market in coming years.
Application Outlook & Trend Analysis
The Distributed Energy Generation Market is categorized into On-Grid and Off-Grid on the basis of application. The On-Grid application has no storage while the Off-Grid type can store and supply electricity on demand. The On-Grid type holds a major share and has dominated the DEG market. The Off-grid systems are foreseen to have a substantial growth during forecast period due to its ability to provide electricity to remote rural areas.
Regional Outlook & Trend Analysis
Owing to abundant investments made by manufacturers and government schemes for reducing carbon emissions, Europe has dominated the DEG market and is expected to hold a high demand in coming years. Due to increasing demand and lack of electricity in rural areas of developing countries in its region, Asia-Pacific will observe a substantial growth during the forecast period. North America is predicted to hold third biggest share due to increasing demand for power supply from its industrial section.
The leading players in market are E.ON SE, Capstone Turbine Corporation, Ballard Power Systems, General Electric (GE), Vestas Wind Systems A/S, SIEMENS AG, Bloom Energy and Caterpillar Power Plants. The major players in the market are profiled in detail in view of qualities, for example, company portfolio, business strategies, financial overview, recent developments, and share of the overall industry.
The Distributed Energy Generation Market is segmented as follows-
Combined Heat Power (CHP)
Hybrid Power Stations
Photovoltaic (PV) cells
Small wind power plants
Rest of Europe
Rest of Asia-Pacific
Rest of South America
Middle East and Africa
Rest of MEA
Some of the key questions answered by the report are:
What was the market size in 2014 and forecast from 2015 to 2023?
What will be the industry market growth from 2015 to 2023?
What are the major drivers, restraints, opportunities, challenges, and industry trends and their impact on the market forecast?
What are the major segments leading the market growth and why?
Which are the leading players in the market and what are the major strategies adopted by them to sustain the market competition?