Distributed Power Generation Market Size To Report Impressive Growth, Revenue To Surge To USD 426.71 Billion by 2032
The global Distributed Power Generation market size accrued earnings worth approximately USD 321.46 Billion in 2023 and is predicted to gain revenue of about USD 426.71 Billion by 2032, is set to record a CAGR of nearly 5.5% over the period from 2024 to 2032.
With the presence of a large pool of participants, the Global distributed power generation market is displaying a highly competitive business landscape, finds a new research report by Zion Market Research (ZMR). JA Solar Holdings Co. Ltd, Siemens AG, Bloom Energy, Yingli Green Energy, and Suntech Power Holdings Co. Limited are some of the key vendors of distributed power generation across the world. These players are focusing aggressively on innovation, as well as on including advanced technologies in their existing products. Over the coming years, they are also expected to take up partnerships and mergers and acquisitions as their key strategy for business development, states the distributed power generation market study.
Citing an instance, on September 3, 2018, Egnida Group, an energy management firm based in the UK, has acquired three Encraft, Logical Vehicle Management, and Car & Van Lease Supermarket. Analysts believe that the move is likely to upswing the growth trajectory of the UK distributed power generation market in the years ahead.
The main types available in this distributed power generation market are on grid and off grid. Among them, the demand for on grid is relatively higher and the trend is anticipated to remain so over the next few years, notes the research report.
Rising Decentralized Power Production Trends To Boost Market Growth
“Growing preference for decentralized power production along with deployment of transmission lines in giant power plants for generating power will favorably leverage distributed power generation market revenue in the near future,” says the author of this study. Apart from this, introduction of new technologies in the power utilities sector for distributed power generation is anticipated to boost the popularity of distributed power generation market in the years ahead.
Rising maintenance & operating costs, however, however, is anticipated to hamper the development of distributed power generation market over the forthcoming years. Nevertheless, government is promoting sustainable energy initiatives and is projected to generate humungous demand for distributed power generation in the years to come, thereby normalizing the impact of hindrances on the distributed power generation market, reports the study.
Presence Of Strong Grid Infrastructure To Support APAC’s Regional Dominance
Regionally, Asia Pacific has been leading the worldwide distributed power generation market and is anticipated to continue on the dominant position in the years to come, states the distributed power generation market study. Rapid growth of grid infrastructure observed in countries such as China and India along with supportive policies of the regional governments is the main factor behind the dominance of the Asia Pacific distributed power generation market. The swelling requirement for robust grid infrastructure in South East Asian countries of Asia Pacific is likely to augment the growth of this regional distributed power generation market in the ensuing years.
The report covers detailed competitive outlook including the market share and company profiles of the key participants operating in the global market,
- Ansaldo Energia
- Ballard Power Systems
- Bloom Energy
- Capstone Turbine
- Ingersoll-Rand plc
- General Electric Energy LLC
- Sharp Corporation
- JA Solar Holdings Co. Ltd.
- Suntech Power Holdings Co. Ltd.
- Siemens AG
- UTC Power LLC
- Yingli Green Energy.
The global distributed power generation market is segmented as follows:
By Type
- On Grid
- Off Grid
By Source
- Fuel Cell
- Micro Turbine
- Solar PV
- Combined Heat & Power
By End-Use
- Commercial
- Residential
- Industrial
By Region
- North AmericaThe U.S.
- EuropeUKFranceGermany
- Asia PacificChinaJapanIndia
- Latin AmericaBrazil
- The Middle East and Africa
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