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Distributed Generation Global market Report 2024 – Market Size, Trends, And Global Forecast 2024-2033
The Business Research Company's Distributed Generation Global Market Report 2024 – Market Size, Trends, And Global Forecast 2024-2033
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The distributed generation market size has experienced significant growth in recent years, projected to increase from $94.62 billion in 2023 to $107.08 billion in 2024, reflecting a compound annual growth rate (CAGR) of 13.2%. This growth during the historical period can be attributed to factors such as the pursuit of energy independence, heightened environmental concerns, government incentives, and the need for enhanced grid resilience.
What Is The Estimated Market Size Of The Global Distributed Generation Market And Its Annual Growth Rate?
The distributed generation market size is projected to experience significant growth in the coming years, reaching $173.25 billion by 2028, with a compound annual growth rate (CAGR) of 12.8%. This anticipated growth during the forecast period can be attributed to trends such as decentralization, the integration of renewable energy sources, advancements in energy storage technologies, and the rise of electric vehicles (EVs).
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Growth Driver Of The Distributed Generation Market
The increasing adoption of electric vehicles (EVs) is expected to significantly drive the growth of the distributed generation market in the coming years. EVs, powered by electricity through electric motors rather than internal combustion engines, rely heavily on robust power distribution systems. Distributed generation facilitates the integration of EVs into these systems by enhancing charging accessibility and reducing grid congestion. This allows for charging stations to be installed at multiple locations, thereby supporting the widespread use of electric vehicles and promoting a cleaner, more sustainable energy landscape.
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Which Market Players Are Steering The Distributed Generation Market Growth ?
Key players in the market include Siemens AG, General Electric Company, Schneider Electric SE, Mitsubishi Heavy Industries Ltd., Caterpillar Energy Solutions GmbH, ASEA Brown Boveri Ltd., AES Corporation, Ameresco Inc., Ansaldo Energia S. p. A., Ballard Power Systems Inc., Bloom Energy Corporation, Capstone Turbine Corporation, Ceres Power Holdings plc, Clearway Energy Inc., Cummins Inc., Doosan Fuel Cell America Inc., E. ON SE, Enel Green Power S. p. A., FuelCell Energy Inc., Hitachi Ltd., Hydrogenics Corporation, Iberdrola S. A., Invenergy LLC, Johnson Controls International plc, SMA Solar Technology AG, SolarEdge Technologies Inc., Sonnen GmbH, SunPower Corporation, Tesla Inc., Linde plc, Toshiba Corporation, TotalEnergies SE.
What Are The Key Trends That Influence Distributed Generation Market Share And Analysis?
Major companies in the distributed generation market are increasingly focusing on introducing hybrid distributed generation systems to enhance their competitive edge. These systems integrate multiple energy sources and technologies, such as renewable energy options like solar and wind, along with conventional sources such as diesel or natural gas generators. By combining these diverse sources, hybrid distributed generation systems ensure a reliable and efficient electricity supply, particularly in distributed or off-grid locations. This approach not only addresses energy reliability but also aligns with the growing demand for sustainable energy solutions.
How Is The Global Distributed Generation Market Segmented?
1) By Technology: Fuel Cells, Micro-Turbines, Wind Turbines, Combustion Turbines, Micro-hydropower, Reciprocating Engines, Solar PV, Other Technologies,
2) By Application: On-Grid, Off-Grid
3) By End User: Commercial, Industrial, Residential
Geographical Insights: Asia-Pacific Leading The Distributed Generation Market
Asia-Pacific was the largest region in the market in 2023. North America is expected to be the fastest-growing region in the market share during the forecast period. The regions covered in the market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
Distributed Generation Market Definition
Distributed generation refers to a collection of activities aimed at developing and selling small-scale energy generation systems that provide electricity, especially during power outages. This includes scenarios that occur after severe storms or during periods of high energy demand. Distributed generation systems typically include renewable energy sources like solar panels and wind turbines, as well as combined heat and power systems, allowing for localized energy production and increased resilience in the face of grid disruptions.
Distributed Generation Global Market Report 2024 from The Business Research Company covers the following information:
.Market size data for the forecast period: Historical and Future
.Macroeconomic factors affecting the market in the short and long run
.Analysis of the macro and micro economic factors that have affected the market in the past five years
.Market analysis by region: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.
.Market analysis by countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
An overview of the global distributed generation market report covering trends, opportunities, strategies, and more
The Distributed Generation Global Market Report 2024 by The Business Research Company is the most comprehensive report that provides insights on distributed generation market size, distributed generation market drivers and trends, distributed generation market major players and distributed generation market growth across geographies. This report helps you gain in-depth insights into opportunities and strategies. Companies can leverage the data in the report and tap into segments with the highest growth potential.
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