Distributed generation involves production and distribution of electricity using small-scale systems located near the end users. Distributed generation products are increasingly being adopted to fulfill the growing demand for electricity from renewable sources in a reliable and sustainable manner. These products provide an efficient and clean source of power generation for homes, businesses and communities. The global Distributed Generation Market is estimated to be valued at US$ 270.46 Bn in 2023 and is expected to exhibit a CAGR of 10% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.

Market key trends:

The increasing focus on renewable sources is one of the key trends driving growth in the distributed generation market. Driven by supportive government policies and initiatives as well as growing environmental concerns, more end users are adopting distributed generation systems powered by renewable sources such as solar, wind and hydro. This is encouraging manufacturers to invest more in the development of advanced and innovative distributed generation technologies utilizing renewable resources. The adoption of distributed generation systems based on renewable energy is expected to scale up significantly over the coming years, thereby accelerating market growth.

Segment Analysis

The global distributed generation market is dominated by renewable energy segments such as solar PV, wind turbine, and reciprocating engines. Solar PV segment accounted for the largest share of more than 35% in 2023 owing to increasing government initiatives and investment in the development of solar projects across the globe.

Key Takeaways

The Global Distributed Generation Market Size is expected to witness high growth in the forecast period. The Asia Pacific region is expected to grow at the fastest pace during the forecast period owing to the presence of developing economies like China and India and rapid urbanization. Countries like China, Japan and India are focusing on developing renewable energy projects to meet the growing electricity demand as well as to reduce carbon emissions.

Key players operating in the distributed generation market are Doosan Heavy Industries & Construction,Toyota Turbine and Systems Inc.,Ballard Power Systems Inc.,Mitsubishi Electric Corp. ,Suzlon Energy Ltd.,Vestas Wind Systems A/S,Rolls-Royce Plc,Capstone Turbine Corp.,Sharp Corp.,General Electric. Distributed generation provides an alternative solution to traditional electric grids, thereby allowing commercial and residential users to generate electricity locally.

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