PUBLISHER: Stratistics Market Research Consulting | PRODUCT CODE: 1209860
PUBLISHER: Stratistics Market Research Consulting | PRODUCT CODE: 1209860
Distributed Generation Market Forecasts to 2028 - Global Analysis By Technology, Application End User and By Geography
According to Stratistics MRC, the Global Distributed Generation Market is accounted for $29 billion in 2022 and is expected to reach $639 billion by 2028 growing at a CAGR of 13.5% during the forecast period. Distributed generation which is also known as decentralized generation or on-site generation as the term describes refers to the generation of electricity for on-site usage on our own. It is mainly generated through the pollution free and environment friendly ways with the help of solar panels, wind turbines and many other similar methods. It majorly neglects the energy transmission required through the electric grid from a large, centralized power generation facilities such as a coal-fired or nuclear power plant. 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.
According to the China Photovoltaic Industry Association, newly installed distributed solar power capacity climbed 125% year on year to nearly 19.65 million kilowatts, accounting to roughly two thirds of china's total newly added solar power capacity.
Market Dynamics:
Driver:
Growing demand for clean energy generation
The market is growing as people become more aware of clean energy resources. The industry is being driven by the rising demand for a distributed generation due to environmental benefits and the lower cost compared to traditional energy generation. Decentralized generating can assist in delivering reliable and clean energy to users while decreasing transmission losses. The centralized system currently dominates the global electricity distribution system. However, it is expected that there would be significant growth, owing primarily to developed economies.
Restraint:
Regular maintenance and troubleshooting
The lack of proper and regular maintenance may result in improper functioning of the distributed generation. The effects of distributed generation are short circuit levels are increased, load losses change, voltage profiles change along the network, voltage transients will appear, congestions can appear in system branches, power quality and reliability may be affected and the networks protections may not function properly. Furthermore, voltage regulation, sustained interruptions, harmonics, voltage sags are the factors restraining the growth of the market.
Opportunity:
Renewable sources of energy
Governments all around the world have devised enticing incentives to encourage the adoption of renewable energy sources, hence accelerating growth. Distributed generation is made up of a variety of energy sources, most of which are renewable. Solar, wind, fuel cells, hydro, biogas, biomass, and geothermal power are all examples of renewable energy sources. The global distributed generation market is projected to grow at a high rate during the forecast period, mainly due to the growing demand for clean energy generation and renewable sources of energy. Governments around the world have developed attractive incentives, rewarding the use of renewable sources of energy, which further drives the growth.
Threat:
High cost
The adoption of the distributed generation may offer huge advantages but there is a cost associated with the maintenance of the systems. The small and medium sector enterprises have financial limitations that restrict them to adopt the advanced and expensive distributed generation systems. The low financial capabilities of the SMEs may hamper the market growth during the forecast period.
COVID-19 Impact
The demand-supply gap, disruptions in raw material procurement, and price volatility are expected to hamper the growth of the industry during the COVID-19 pandemic. Due to a scarcity of resources in various parts of the world, the COVID-19 epidemic has impacted negatively on the manufacturing and industrial industries. Due to trade restrictions implemented in various sections of the country. The industry's top players are concerned about the market's prospects and are rethinking their strategies to meet the challenge.
The fuel cell segment is expected to be the largest during the forecast period
The fuel cell segment is estimated to have a lucrative growth, due to the improved adoption of the fuel cells in the distributed generation system owing to various benefits like high efficiency, lower emissions, and capability of converting chemical energy into electrical energy. Furthermore, as fuel cells have inherent benefits beyond than power generation, they can be used for energy storage and power flow regulation. Hence, these are the aspects driving the segment growth.
The commercial & industrial segment is expected to have the highest CAGR during the forecast period
The commercial & industrial segment is anticipated to witness the fastest CAGR growth during the forecast period, due to the reducing equipment costs and increased demand for the uninterrupted power supply. This is attributed to the increased government initiatives to promote the adoption of the renewable energy sources across the commercial and industrial sectors in the form of subsidies and incentives. Moreover, the increased efforts of the government to industrialize and urbanize the rural regions are supporting the growth of the segment.
Region with highest share:
Asia Pacific is projected to hold the largest market share during the forecast period owing to the increased adoption of renewable energy sources, rising investments in the industrialization and urbanization, rapidly growing infrastructural developments, and increasing government initiatives to encourage the deployment of renewable and green & clean energy sources. Moreover, with the growing industrialization, the demand for the efficient and uninterrupted power supply is growing significantly, which is fueling the growth of the market in region.
Region with highest CAGR:
Europe is projected to have the highest CAGR over the forecast period, owing to its higher energy efficiency. This is attributed to the strict government norms regarding the use of renewable energy. The increased awareness regarding the climate change and negative effects of carbon emission has resulted in the huge demand for the clean and green energy. The government has strict regulations regarding the industrial and commercial use of energy pertaining to the renewable sources, which has enhanced the growth of the market in region.
Key players in the market
Some of the key players profiled in the Distributed Generation Market include Huawei Technologies Co., Ltd., ABB Limited, Mitsubishi Heavy Industries Ltd., Siemens AG, Schneider Electric, FuelCell Energy, Inc., Canadian Solar Inc., Rolls-Royce Power Systems AG, Toyota Turbine and Systems Inc., Caterpillar, Inc., Capstone Green Energy Corporation, Bergey WindPower Company, SMA Solar Technology AG, Bloom Energy Corporation, Vestas Wind Systems A/S, Emergya Wind Technologies B.V., GE Power, Ansaldo Energia S.p.A., Flex Energy Solutions and Ameresco, Inc.
Key Developments:
In December 2020, Mitsubishi Heavy Industries Ltd and Vestas Wind Systems A/S of Denmark signed an agreement that formally ended their 50/50 MHI Vestas Offshore Wind A/S joint venture.
In July 2019, FuelCell Energy reported regarding its plan to re-launch sub-MW distributed generation system in European countries such as Germany, Spain, UK, and Italy.
In June 2019, Ameresco completed its project named 10MW Distributed Energy Security that involved a cost of US$91 million. This system has the capability to withstand seismic and storm conditions.
Technologies Covered:
- Micro-hydropower
- Fuel Cells
- Solar PV
- Micro-Turbines
- Reciprocating Engines
- Wind Turbines
- Combustion Turbines
- Other Technologies
Applications Covered:
- Off-Grid
- On-Grid
- Other Applications
End Users Covered:
- Industrial
- Commercial
- Residential
- Other End Users
Regions Covered:
- North America
- US
- Canada
- Mexico
- Europe
- Germany
- UK
- Italy
- France
- Spain
- Rest of Europe
- Asia Pacific
- Japan
- China
- India
- Australia
- New Zealand
- South Korea
- Rest of Asia Pacific
- South America
- Argentina
- Brazil
- Chile
- Rest of South America
- Middle East & Africa
- Saudi Arabia
- UAE
- Qatar
- South Africa
- Rest of Middle East & Africa
What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2020, 2021, 2022, 2025, and 2028
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements
Free Customization Offerings:
All the customers of this report will be entitled to receive one of the following free customization options:
- Company Profiling
- Comprehensive profiling of additional market players (up to 3)
- SWOT Analysis of key players (up to 3)
- Regional Segmentation
- Market estimations, Forecasts and CAGR of any prominent country as per the client's interest (Note: Depends on feasibility check)
- Competitive Benchmarking
- Benchmarking of key players based on product portfolio, geographical presence, and strategic alliances
Table of Contents
1 Executive Summary
2 Preface
- 2.1 Abstract
- 2.2 Stake Holders
- 2.3 Research Scope
- 2.4 Research Methodology
- 2.4.1 Data Mining
- 2.4.2 Data Analysis
- 2.4.3 Data Validation
- 2.4.4 Research Approach
- 2.5 Research Sources
- 2.5.1 Primary Research Sources
- 2.5.2 Secondary Research Sources
- 2.5.3 Assumptions
3 Market Trend Analysis
- 3.1 Introduction
- 3.2 Drivers
- 3.3 Restraints
- 3.4 Opportunities
- 3.5 Threats
- 3.6 Technology Analysis
- 3.7 Application Analysis
- 3.8 End User Analysis
- 3.9 Emerging Markets
- 3.10 Impact of Covid-19
4 Porters Five Force Analysis
- 4.1 Bargaining power of suppliers
- 4.2 Bargaining power of buyers
- 4.3 Threat of substitutes
- 4.4 Threat of new entrants
- 4.5 Competitive rivalry
5 Global Distributed Generation Market, By Technology
- 5.1 Introduction
- 5.2 Micro-hydropower
- 5.3 Fuel Cells
- 5.4 Solar PV
- 5.5 Micro-Turbines
- 5.6 Reciprocating Engines
- 5.7 Wind Turbines
- 5.8 Combustion Turbines
- 5.9 Other Technologies
6 Global Distributed Generation Market, By Application
- 6.1 Introduction
- 6.2 Off-Grid
- 6.3 On-Grid
- 6.4 Other Applications
7 Global Distributed Generation Market, By End User
- 7.1 Introduction
- 7.2 Industrial
- 7.3 Commercial
- 7.4 Residential
- 7.5 Other End Users
8 Global Distributed Generation Market, By Geography
- 8.1 Introduction
- 8.2 North America
- 8.2.1 US
- 8.2.2 Canada
- 8.2.3 Mexico
- 8.3 Europe
- 8.3.1 Germany
- 8.3.2 UK
- 8.3.3 Italy
- 8.3.4 France
- 8.3.5 Spain
- 8.3.6 Rest of Europe
- 8.4 Asia Pacific
- 8.4.1 Japan
- 8.4.2 China
- 8.4.3 India
- 8.4.4 Australia
- 8.4.5 New Zealand
- 8.4.6 South Korea
- 8.4.7 Rest of Asia Pacific
- 8.5 South America
- 8.5.1 Argentina
- 8.5.2 Brazil
- 8.5.3 Chile
- 8.5.4 Rest of South America
- 8.6 Middle East & Africa
- 8.6.1 Saudi Arabia
- 8.6.2 UAE
- 8.6.3 Qatar
- 8.6.4 South Africa
- 8.6.5 Rest of Middle East & Africa
9 Key Developments
- 9.1 Agreements, Partnerships, Collaborations and Joint Ventures
- 9.2 Acquisitions & Mergers
- 9.3 New Product Launch
- 9.4 Expansions
- 9.5 Other Key Strategies
10 Company Profiling
- 10.1 Huawei Technologies Co., Ltd.
- 10.2 ABB Limited
- 10.3 Mitsubishi Heavy Industries Ltd.
- 10.4 Siemens AG
- 10.5 Schneider Electric
- 10.6 FuelCell Energy, Inc.
- 10.7 Canadian Solar Inc.
- 10.8 Rolls-Royce Power Systems AG
- 10.9 Toyota Turbine and Systems Inc.
- 10.10 Caterpillar, Inc.
- 10.11 Capstone Green Energy Corporation
- 10.12 Bergey WindPower Company
- 10.13 SMA Solar Technology AG
- 10.14 Bloom Energy Corporation
- 10.15 Vestas Wind Systems A/S
- 10.16 Emergya Wind Technologies B.V.
- 10.17 GE Power
- 10.18 Ansaldo Energia S.p.A.
- 10.19 Flex Energy Solutions
- 10.20 Ameresco, Inc.
List of Tables
- Table 1 Global Distributed Generation Market Outlook, By Region (2020-2028) ($MN)
- Table 2 Global Distributed Generation Market Outlook, By Technology (2020-2028) ($MN)
- Table 3 Global Distributed Generation Market Outlook, By Micro-hydropower (2020-2028) ($MN)
- Table 4 Global Distributed Generation Market Outlook, By Fuel Cells (2020-2028) ($MN)
- Table 5 Global Distributed Generation Market Outlook, By Solar PV (2020-2028) ($MN)
- Table 6 Global Distributed Generation Market Outlook, By Micro-Turbines (2020-2028) ($MN)
- Table 7 Global Distributed Generation Market Outlook, By Reciprocating Engines (2020-2028) ($MN)
- Table 8 Global Distributed Generation Market Outlook, By Wind Turbines (2020-2028) ($MN)
- Table 9 Global Distributed Generation Market Outlook, By Combustion Turbines (2020-2028) ($MN)
- Table 10 Global Distributed Generation Market Outlook, By Other Technologies (2020-2028) ($MN)
- Table 11 Global Distributed Generation Market Outlook, By Application (2020-2028) ($MN)
- Table 12 Global Distributed Generation Market Outlook, By Off-Grid (2020-2028) ($MN)
- Table 13 Global Distributed Generation Market Outlook, By On-Grid (2020-2028) ($MN)
- Table 14 Global Distributed Generation Market Outlook, By Other Applications (2020-2028) ($MN)
- Table 15 Global Distributed Generation Market Outlook, By End User (2020-2028) ($MN)
- Table 16 Global Distributed Generation Market Outlook, By Industrial (2020-2028) ($MN)
- Table 17 Global Distributed Generation Market Outlook, By Commercial (2020-2028) ($MN)
- Table 18 Global Distributed Generation Market Outlook, By Residential (2020-2028) ($MN)
- Table 19 Global Distributed Generation Market Outlook, By Other End Users (2020-2028) ($MN)
- Table 20 North America Distributed Generation Market Outlook, By Country (2020-2028) ($MN)
- Table 21 North America Distributed Generation Market Outlook, By Technology (2020-2028) ($MN)
- Table 22 North America Distributed Generation Market Outlook, By Micro-hydropower (2020-2028) ($MN)
- Table 23 North America Distributed Generation Market Outlook, By Fuel Cells (2020-2028) ($MN)
- Table 24 North America Distributed Generation Market Outlook, By Solar PV (2020-2028) ($MN)
- Table 25 North America Distributed Generation Market Outlook, By Micro-Turbines (2020-2028) ($MN)
- Table 26 North America Distributed Generation Market Outlook, By Reciprocating Engines (2020-2028) ($MN)
- Table 27 North America Distributed Generation Market Outlook, By Wind Turbines (2020-2028) ($MN)
- Table 28 North America Distributed Generation Market Outlook, By Combustion Turbines (2020-2028) ($MN)
- Table 29 North America Distributed Generation Market Outlook, By Other Technologies (2020-2028) ($MN)
- Table 30 North America Distributed Generation Market Outlook, By Application (2020-2028) ($MN)
- Table 31 North America Distributed Generation Market Outlook, By Off-Grid (2020-2028) ($MN)
- Table 32 North America Distributed Generation Market Outlook, By On-Grid (2020-2028) ($MN)
- Table 33 North America Distributed Generation Market Outlook, By Other Applications (2020-2028) ($MN)
- Table 34 North America Distributed Generation Market Outlook, By End User (2020-2028) ($MN)
- Table 35 North America Distributed Generation Market Outlook, By Industrial (2020-2028) ($MN)
- Table 36 North America Distributed Generation Market Outlook, By Commercial (2020-2028) ($MN)
- Table 37 North America Distributed Generation Market Outlook, By Residential (2020-2028) ($MN)
- Table 38 North America Distributed Generation Market Outlook, By Other End Users (2020-2028) ($MN)
- Table 39 Europe Distributed Generation Market Outlook, By Country (2020-2028) ($MN)
- Table 40 Europe Distributed Generation Market Outlook, By Technology (2020-2028) ($MN)
- Table 41 Europe Distributed Generation Market Outlook, By Micro-hydropower (2020-2028) ($MN)
- Table 42 Europe Distributed Generation Market Outlook, By Fuel Cells (2020-2028) ($MN)
- Table 43 Europe Distributed Generation Market Outlook, By Solar PV (2020-2028) ($MN)
- Table 44 Europe Distributed Generation Market Outlook, By Micro-Turbines (2020-2028) ($MN)
- Table 45 Europe Distributed Generation Market Outlook, By Reciprocating Engines (2020-2028) ($MN)
- Table 46 Europe Distributed Generation Market Outlook, By Wind Turbines (2020-2028) ($MN)
- Table 47 Europe Distributed Generation Market Outlook, By Combustion Turbines (2020-2028) ($MN)
- Table 48 Europe Distributed Generation Market Outlook, By Other Technologies (2020-2028) ($MN)
- Table 49 Europe Distributed Generation Market Outlook, By Application (2020-2028) ($MN)
- Table 50 Europe Distributed Generation Market Outlook, By Off-Grid (2020-2028) ($MN)
- Table 51 Europe Distributed Generation Market Outlook, By On-Grid (2020-2028) ($MN)
- Table 52 Europe Distributed Generation Market Outlook, By Other Applications (2020-2028) ($MN)
- Table 53 Europe Distributed Generation Market Outlook, By End User (2020-2028) ($MN)
- Table 54 Europe Distributed Generation Market Outlook, By Industrial (2020-2028) ($MN)
- Table 55 Europe Distributed Generation Market Outlook, By Commercial (2020-2028) ($MN)
- Table 56 Europe Distributed Generation Market Outlook, By Residential (2020-2028) ($MN)
- Table 57 Europe Distributed Generation Market Outlook, By Other End Users (2020-2028) ($MN)
- Table 58 Asia Pacific Distributed Generation Market Outlook, By Country (2020-2028) ($MN)
- Table 59 Asia Pacific Distributed Generation Market Outlook, By Technology (2020-2028) ($MN)
- Table 60 Asia Pacific Distributed Generation Market Outlook, By Micro-hydropower (2020-2028) ($MN)
- Table 61 Asia Pacific Distributed Generation Market Outlook, By Fuel Cells (2020-2028) ($MN)
- Table 62 Asia Pacific Distributed Generation Market Outlook, By Solar PV (2020-2028) ($MN)
- Table 63 Asia Pacific Distributed Generation Market Outlook, By Micro-Turbines (2020-2028) ($MN)
- Table 64 Asia Pacific Distributed Generation Market Outlook, By Reciprocating Engines (2020-2028) ($MN)
- Table 65 Asia Pacific Distributed Generation Market Outlook, By Wind Turbines (2020-2028) ($MN)
- Table 66 Asia Pacific Distributed Generation Market Outlook, By Combustion Turbines (2020-2028) ($MN)
- Table 67 Asia Pacific Distributed Generation Market Outlook, By Other Technologies (2020-2028) ($MN)
- Table 68 Asia Pacific Distributed Generation Market Outlook, By Application (2020-2028) ($MN)
- Table 69 Asia Pacific Distributed Generation Market Outlook, By Off-Grid (2020-2028) ($MN)
- Table 70 Asia Pacific Distributed Generation Market Outlook, By On-Grid (2020-2028) ($MN)
- Table 71 Asia Pacific Distributed Generation Market Outlook, By Other Applications (2020-2028) ($MN)
- Table 72 Asia Pacific Distributed Generation Market Outlook, By End User (2020-2028) ($MN)
- Table 73 Asia Pacific Distributed Generation Market Outlook, By Industrial (2020-2028) ($MN)
- Table 74 Asia Pacific Distributed Generation Market Outlook, By Commercial (2020-2028) ($MN)
- Table 75 Asia Pacific Distributed Generation Market Outlook, By Residential (2020-2028) ($MN)
- Table 76 Asia Pacific Distributed Generation Market Outlook, By Other End Users (2020-2028) ($MN)
- Table 77 South America Distributed Generation Market Outlook, By Country (2020-2028) ($MN)
- Table 78 South America Distributed Generation Market Outlook, By Technology (2020-2028) ($MN)
- Table 79 South America Distributed Generation Market Outlook, By Micro-hydropower (2020-2028) ($MN)
- Table 80 South America Distributed Generation Market Outlook, By Fuel Cells (2020-2028) ($MN)
- Table 81 South America Distributed Generation Market Outlook, By Solar PV (2020-2028) ($MN)
- Table 82 South America Distributed Generation Market Outlook, By Micro-Turbines (2020-2028) ($MN)
- Table 83 South America Distributed Generation Market Outlook, By Reciprocating Engines (2020-2028) ($MN)
- Table 84 South America Distributed Generation Market Outlook, By Wind Turbines (2020-2028) ($MN)
- Table 85 South America Distributed Generation Market Outlook, By Combustion Turbines (2020-2028) ($MN)
- Table 86 South America Distributed Generation Market Outlook, By Other Technologies (2020-2028) ($MN)
- Table 87 South America Distributed Generation Market Outlook, By Application (2020-2028) ($MN)
- Table 88 South America Distributed Generation Market Outlook, By Off-Grid (2020-2028) ($MN)
- Table 89 South America Distributed Generation Market Outlook, By On-Grid (2020-2028) ($MN)
- Table 90 South America Distributed Generation Market Outlook, By Other Applications (2020-2028) ($MN)
- Table 91 South America Distributed Generation Market Outlook, By End User (2020-2028) ($MN)
- Table 92 South America Distributed Generation Market Outlook, By Industrial (2020-2028) ($MN)
- Table 93 South America Distributed Generation Market Outlook, By Commercial (2020-2028) ($MN)
- Table 94 South America Distributed Generation Market Outlook, By Residential (2020-2028) ($MN)
- Table 95 South America Distributed Generation Market Outlook, By Other End Users (2020-2028) ($MN)
- Table 96 Middle East & Africa Distributed Generation Market Outlook, By Country (2020-2028) ($MN)
- Table 97 Middle East & Africa Distributed Generation Market Outlook, By Technology (2020-2028) ($MN)
- Table 98 Middle East & Africa Distributed Generation Market Outlook, By Micro-hydropower (2020-2028) ($MN)
- Table 99 Middle East & Africa Distributed Generation Market Outlook, By Fuel Cells (2020-2028) ($MN)
- Table 100 Middle East & Africa Distributed Generation Market Outlook, By Solar PV (2020-2028) ($MN)
- Table 101 Middle East & Africa Distributed Generation Market Outlook, By Micro-Turbines (2020-2028) ($MN)
- Table 102 Middle East & Africa Distributed Generation Market Outlook, By Reciprocating Engines (2020-2028) ($MN)
- Table 103 Middle East & Africa Distributed Generation Market Outlook, By Wind Turbines (2020-2028) ($MN)
- Table 104 Middle East & Africa Distributed Generation Market Outlook, By Combustion Turbines (2020-2028) ($MN)
- Table 105 Middle East & Africa Distributed Generation Market Outlook, By Other Technologies (2020-2028) ($MN)
- Table 106 Middle East & Africa Distributed Generation Market Outlook, By Application (2020-2028) ($MN)
- Table 107 Middle East & Africa Distributed Generation Market Outlook, By Off-Grid (2020-2028) ($MN)
- Table 108 Middle East & Africa Distributed Generation Market Outlook, By On-Grid (2020-2028) ($MN)
- Table 109 Middle East & Africa Distributed Generation Market Outlook, By Other Applications (2020-2028) ($MN)
- Table 110 Middle East & Africa Distributed Generation Market Outlook, By End User (2020-2028) ($MN)
- Table 111 Middle East & Africa Distributed Generation Market Outlook, By Industrial (2020-2028) ($MN)
- Table 112 Middle East & Africa Distributed Generation Market Outlook, By Commercial (2020-2028) ($MN)
- Table 113 Middle East & Africa Distributed Generation Market Outlook, By Residential (2020-2028) ($MN)
- Table 114 Middle East & Africa Distributed Generation Market Outlook, By Other End Users (2020-2028) ($MN)
