The Global Distributed Power Generation Market is expected to grow at a CAGR during the forecasting period (2022-2029).
The Global Distributed Power Generation market is growing rapidly due to several factors such as increasing demand for electricity from different end-user applications, increasing adoption of smart grid technologies in developing countries to improve efficiency and reliability, and rising economic growth globally.
In addition, due to better power efficiency which reduces the power loss in transmission and distribution lines, distributed power generation is preferred over centralized power generation.
The global Distributed Power Generation market is segmented by End-User into Industrial, Residential, Commercial, and Others. Based on Technology, the market is segmented into Fuel Cell, Combined Heat & Power (CHP), Solar PV Systems, Micro Turbines, and Others. Further, based on Application, the market is segmented into On-Grid, and Off-Grid.
By Technology, Solar PV Systems are a major segment of the globally distributed power generation accounted for over 40% of the market. The market is driven due to the advancement in solar energy storage technologies. As solar power plants can be easily developed at power consumption in On-grid systems and the setup of solar power plants is low, the Solar PV systems are increasing during the forecast period.
The global solar power market is estimated to reach approx. 160 billion U.S. dollars by 2023.
By application, the On-grid segment of the globally distributed power generation market is leading due to smart and improvised grids systems compared to Off-grid. Power trading is more feasible with proper load balance in on-grid power generation systems, hence the market is increasing.
Geographically, the market is segmented into North America, Asia-Pacific, Europe, South America, and RoW. Europe is dominating the globally distributed power generation market due to several driving factors such as increasing demand for power and the need for improved power generation technologies, stringent regulations imposed by the government in some European countries regarding environmental concerns that have decreased the use of fossil fuel and nuclear power generation.
GE Power developed a commercial operation of three 6F.01 gas turbines at the Huaneng Guilin Gas Distributed Energy Project in China in Jan 2018.
In Jan 2018, Rensource, a Lagos-based distributed energy provider expanded its power-as-a-service renewable energy business in Nigeria by raising USD 3.5 million in finance.
The report profiles the following companies, which includes ABB, Siemens, Alstom, The AES Corporation, Wood Group, Wartsila, Caterpillar Inc., Mitsubishi Heavy Industries Ltd, Bloom Energy, Ansaldo Energia SpA, Cummins Inc., Schneider Electric SE, Capstone Turbine Corporation (CPST), Fuelcell Energy, Inc., and Flexenergy.
The report covers the factors impacting the market, Porter 5 Forces, Market Share Analysis, Price trend analysis, Product Benchmarking, and company profiles.
Combined Heat & Power (CHP)
Solar PV Systems
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