Distributed Generation Market
Report ID: SQMIG10A2006
Distributed Generation Market Size, Share, Growth Analysis, By Technology(Fuel Cells, Micro-Turbines, Wind Turbines, Combustion Turbines), By Application(On-Grid, and Off-Grid.), By End User(Commercial, Industrial, and Residential.), By Region - Industry Forecast 2024-2031
Report ID:
SQMIG10A2006 |
Region:
Global |
Published Date: February, 2024
Pages:
260
|Tables:
94
|Figures:
76
Distributed Generation Market Insights
Distributed Generation Market size was valued at USD 83.9 billion in 2019 and is poised to grow from USD 92.68 billion in 2023 to USD 204.6 billion by 2031, growing at a CAGR of 10.43% in the forecast period (2024-2031).
The market is driven by increasing GHG emission reduction goals, government regulations, and environmental consciousness. Additionally, greater R&D efforts for the creation of novel technologies are probably to promote market expansion. DEG system demand is expected to be boosted by government programmes and incentives, including feed-in tariffs in North America and the Asia Pacific. The installation of such systems in industrial, residential, and commercial settings is encouraged by government initiatives.
These systems can be run on-grid or off-grid depending on the need and area. Furthermore, the market growth is anticipated to be fuelled by DEG's major benefits over other energy-generating technologies. However, the expansion of the distributed generation market for energy generation may be constrained by high initial equipment and technological investment costs.
US Distributed Generation Market is poised to grow at a sustainable CAGR for the next forecast year.
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Distributed Generation Market Segmental Analysis
Global Distributed Generation Market is segmented based on the Technology, Application, End User, and region. Based on technology, global Distributed Generation Market is segmented into Fuel Cells, Micro-Turbines, Wind Turbines, Combustion Turbines, Micro-hydropower, Reciprocating Engines, Solar PV, Others. Based on the Application, the Distributed Generation Market is segmented into On-Grid and Off-Grid. Based on the End User, the Distributed Generation Market is segmented into Commercial, Industrial, and Residential. Based on region, Distributed Generation Market is categorized into North America, Europe, Asia-Pacific, Latin America, and MEA.
Distributed Generation Market Analysis by Technology
According to technology, this market is growing as a result of high use of fuel cells in distributed generation systems due to its high efficiency, low emissions, and capacity to transform chemical energy into electrical energy, among other advantages. The fuel cells' 60% greater efficiency are a key factor in the growth of the fuel cell market. During the forecast period, the solar PV segment is anticipated to develop at the fastest rate. Demand for the solar PV distributed generation industry has risen as a result of government incentives for the use of solar energy and recent drops in the price of solar equipment. Moreover, due to increased efforts by the government and businesses to minimise their carbon footprint and attain sustainability over the long term, the majority of industries are moving toward the use of solar energy sources.
Distributed Generation Market Analysis by End User
The market is dominated by the commercial and industrial sector, which held a market share of almost 70%. This is due to the rise in government attempts to encourage the use of renewable energy sources in the commercial and industrial sectors through subsidies and incentives. Additionally, this market expansion has been aided by falling equipment costs and rising need for reliable power. In addition, the government's enhanced initiatives to industrialise and urbanise rural areas are fostering the growth of the commercial & industrial segment, which is why it is anticipated that this segment will predominate during the projected period. Residential, on the other hand, is anticipated to be the segment with the most opportunity during the forecast period. The main major components driving the urbanisation of rural areas and the rise in the number of large residential complexes are primarily driving the residential market's expansion. Demand in the residential sector is anticipated to be boosted by the growing use of distributed generation systems for applications like as cooking, heating, cooling, and ventilation.
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Distributed Generation Market Regional Insights
It is anticipated that North America will have a high growth rate during the forecast period. It is expected that the huge demand for wind energy in North America and the quickly rising demand for solar energy among commercial and industrial units may fuel the demand for distributed generation technologies.
Asia Pacific dominated the global distributed generation market share. This can be perfectly stated by the rising use of renewable energy sources, rising investments in industrialization and urbanisation, quickly expanding infrastructure projects, and rising government measures to promote the use of renewable, green, and clean energy sources. A further factor driving the expansion of the market in Asia Pacific is the region's increasing industrialization, that have increased demand for reliable, efficient power supplies.
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Distributed Generation Market Dynamics
Distributed Generation Market Drivers:
Increased Environmental Awareness
- That over duration of the forecast period, the market is anticipated to be driven by rising awareness of environmental awareness, escalating government regulations and goals for reducing greenhouse gas (GHG) emissions, and growing energy demand. Increased R&D efforts for the creation of new technologies are also anticipated to support market expansion.
Growing Need for Renewable Energy
- Due to the increased demand for clean energy generation and renewable energy sources, the global market for distributed generation is anticipated to expand quickly. Governments all across the world have created alluring opportunities to motivate the use of renewable energy sources, hence accelerating growth.
Distributed Generation Market Restraint:
Reluctance to Spend on Distributed Generation
- Reluctance to invest in distributed generation technologies is the main factor restricting the market growth for changing from existing centralised business models to distributed alternatives costs a significant amount of money, time, and effort.
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Distributed Generation Market Competitive Landscape
The market is highly competitive owing to the increasing competition at the global level as the market is leading towards the lowering of the technological cost. The companies are investing in research and development to innovate new technologies.
Distributed Generation Market Top Player's Company Profiles
- General Electric
- Siemens AG
- ABB Ltd.
- Schneider Electric SE
- Mitsubishi Electric Corporation
- Wartsila Corporation
- Capstone Turbine Corporation
- Cummins Inc.
- Caterpillar Inc.
- Vestas Wind Systems A/S
- Rolls-Royce Holdings plc
- Doosan Fuel Cell America Inc.
- Ballard Power Systems Inc.
- Bloom Energy Corporation
- EnSync Energy Systems
- Ameresco Inc.
- Northern Power Systems Corporation
- Sharp Corporation
- SunPower Corporation
- First Solar Inc.
Distributed Generation Market Recent Developments
- In May 2022, Enrique Razon, a Filipino billionaire, recently unveiled plans to partner with a growing number of local businesses to build the largest solar power facility in the world. The plans were made public by the infrastructure investment arm of Enrique Razon.
- In June 2022, The artificial intelligence (AI) floating system is intended to generate electricity by tracking the sun, and Israel's Finance Ministry and the IIA (Israel Innovation Authority) have announced a solar system initiative to test it.
Distributed Generation Key Market Trends
- For many nations around the world, the supply of power in rural areas is still a significant challenge. Due to the limitations on the ability to transmit power where and when it is needed, the economic development of already developed or developing areas outpaces the extension of the electrical supply in rural areas and with other regions experiencing the unavailability of energy. As a result, it was necessary to make local options for electricity transmission available. Distributed energy generation system adoption has so benefited greatly from these circumstances. Furthermore, market growth is expected as a consequence of the energy loss from centralised power sources. Due to inefficiencies in the transmission process driven on by the electricity's long road, the electricity generated from centralised sources like hydropower, nuclear power, coal, and natural gas tends to lose energy. While power produced by distributed systems has good power quality. However, the main factor impeding market growth is the reluctance to embrace dispersed generation technology. This is due to the fact that these systems require a lot of room and are frequently placed close to the end-user, a concept that is not widely accepted by users. These systems also have poor aesthetic appeal and raise issues with land use.
Distributed Generation Market SkyQuest Analysis
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Co-relates, and Analyses the Data collected utilizing Primary Exploratory Research backed by the robust Secondary Desk research.
According to our Global Distributed Generation Market analysis, over the course of the forecast period, the market is anticipated to be driven by factors like rising environmental awareness, expanding government regulations and goals for greenhouse gas (GHG) emission reductions, as well as rising energy demand. Increased R&D efforts for the creation of new technologies are also anticipated to support market expansion. The demand for DEG systems is likely to be fueled by government initiatives and incentives, such as feed-in tariffs in North America and the Asia Pacific. The installation of such systems in industrial, residential, and commercial applications is being encouraged by government programs. Depending on the application and the location, these systems can operate on or off the grid.
| Report Metric | Details |
|---|---|
| Market size value in 2023 | USD 83.9 billion |
| Market size value in 2031 | USD 204.6 billion |
| Growth Rate | 10.43% |
| Forecast period | 2024-2031 |
| Forecast Unit (Value) | USD Billion |
| Segments covered |
|
| Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
| Companies covered |
|
| Customization scope | Free report customization with purchase. Customization includes:-
|
| Historical Year | 2019 |
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Table Of Content
Executive Summary
Market overview
- Exhibit: Executive Summary – Chart on Market Overview
- Exhibit: Executive Summary – Data Table on Market Overview
- Exhibit: Executive Summary – Chart on Distributed Generation Market Characteristics
- Exhibit: Executive Summary – Chart on Market by Geography
- Exhibit: Executive Summary – Chart on Market Segmentation
- Exhibit: Executive Summary – Chart on Incremental Growth
- Exhibit: Executive Summary – Data Table on Incremental Growth
- Exhibit: Executive Summary – Chart on Vendor Market Positioning
Parent Market Analysis
Market overview
Market size
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- SWOT Analysis
KEY MARKET INSIGHTS
- Technology Analysis
- (Exhibit: Data Table: Name of technology and details)
- Pricing Analysis
- (Exhibit: Data Table: Name of technology and pricing details)
- Supply Chain Analysis
- (Exhibit: Detailed Supply Chain Presentation)
- Value Chain Analysis
- (Exhibit: Detailed Value Chain Presentation)
- Ecosystem Of the Market
- Exhibit: Parent Market Ecosystem Market Analysis
- Exhibit: Market Characteristics of Parent Market
- IP Analysis
- (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
- Trade Analysis
- (Exhibit: Data Table: Import and Export data details)
- Startup Analysis
- (Exhibit: Data Table: Emerging startups details)
- Raw Material Analysis
- (Exhibit: Data Table: Mapping of key raw materials)
- Innovation Matrix
- (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
- Pipeline product Analysis
- (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
- Macroeconomic Indicators
COVID IMPACT
- Introduction
- Impact On Economy—scenario Assessment
- Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
- Revised Market Size
- Exhibit: Data Table on Distributed Generation Market size and forecast 2021-2027 ($ million)
- Impact Of COVID On Key Segments
- Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
- COVID Strategies By Company
- Exhibit: Analysis on key strategies adopted by companies
MARKET DYNAMICS & OUTLOOK
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- Regulatory Landscape
- Exhibit: Data Table on regulation from different region
- SWOT Analysis
- Porters Analysis
- Competitive rivalry
- Exhibit: Competitive rivalry Impact of key factors, 2021
- Threat of substitute products
- Exhibit: Threat of Substitute Products Impact of key factors, 2021
- Bargaining power of buyers
- Exhibit: buyers bargaining power Impact of key factors, 2021
- Threat of new entrants
- Exhibit: Threat of new entrants Impact of key factors, 2021
- Bargaining power of suppliers
- Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
- Competitive rivalry
- Skyquest special insights on future disruptions
- Political Impact
- Economic impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact
Market Size by Region
- Chart on Market share by geography 2021-2027 (%)
- Data Table on Market share by geography 2021-2027(%)
- North America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- USA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Canada
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Europe
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Germany
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Spain
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- France
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- UK
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Europe
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Asia Pacific
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- China
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- India
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Japan
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Korea
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Asia Pacific
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Latin America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Brazil
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of South America
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Middle East & Africa (MEA)
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- GCC Countries
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Africa
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of MEA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
KEY COMPANY PROFILES
- Competitive Landscape
- Total number of companies covered
- Exhibit: companies covered in the report, 2021
- Top companies market positioning
- Exhibit: company positioning matrix, 2021
- Top companies market Share
- Exhibit: Pie chart analysis on company market share, 2021(%)
- Total number of companies covered
Methodology
For the Distributed Generation Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Distributed Generation Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Distributed Generation Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Distributed Generation Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
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