Distributed Energy Generation Market to Reach Valuation of USD 520.5 Billion by 2028 – Growth in Environmental Awareness Drives the Market

In terms of revenue, the Global Distributed Energy Generation Market is expected to reach USD 520.5 Billion by 2028, growing at a CAGR (Compound Annual Growth Rate) of 10.80% from 2022 to 2028.

Distributed generation can power a single building, like a house, business, or microgrid component, as at a sizable industrial complex, military base, or university campus. Examples of distributed generation technologies that produce electricity at or close to the point of use are solar photovoltaic (PV) and wind. The Distributed Energy Generation (DEG) market is expanding due to more stringent government regulations and goals for reducing greenhouse gas (GHG) emissions. Global market expansion is also a result of the advantages of renewable technology, including energy security, resilience, and carbon reductions. Moreover, the industry is projected to rise due to increased R&D initiatives to create new solar power-producing technologies. Due to the requirement for a clean energy source and the low cost of the products, DEG systems are also less expensive than conventional power-generating techniques. As a result, the market expansion is anticipated to be boosted over the anticipated period. These are a few of the Distributed Energy Generation market trends worldwide.

Key Highlights from the Report

• Among Technology, the Solar PV segment is anticipated to dominate the Distributed Energy Generation market with the highest market share during the forecast period because it is the type of renewable energy growing faster.
• From amongst the End Use Industries, the Commercial & Industrial segment accounted for the highest CAGR in the forecast period because the equipment is less expensive and requires continual power.
• Geographically, Asia Pacific held the largest market share in 2021 and is likely to be the most profitable market in the forecast period. Increased investments in infrastructure development, industrialization, and urbanization, as well as increased government initiatives to encourage the use of clean, renewable energy sources, are credited with driving this expansion.

Market Dynamics

The market for Distributed Energy Generation is anticipated to develop at the highest CAGR during the forecast period. Throughout the forecast period, the market is expected to be driven by rising environmental awareness, expanding government regulations and goals for greenhouse gas (GHG) emission reductions, and rising energy consumption. Increased R&D efforts to create It is also projected that increased R&D activities to develop new technologies will aid market expansion. Government programs and incentives, such as feed-in tariffs in North America and the Asia Pacific, are anticipated to propel the market for DEG systems. Government programs support installing such systems in industrial, residential, and commercial uses. These systems can operate on or off the grid, depending on the situation and application. Additionally, DEG's several advantages over traditional energy generation techniques are anticipated to drive market expansion. During the projection period, it is expected that the United States market will experience considerable growth.

The market for DEG systems is anticipated to increase as people become more aware of renewable energy sources. In addition, DEG systems are less expensive than traditional power generation techniques. Therefore, the desire for a clean energy source and the product's low cost will positively impact market growth over the projected period. The advancement of the overall market results from the current changes in regulatory regulations across North America. Factors like the development of provincial renewable energy policies in Canada and Mexico and the successful implementation of energy auctions in both countries are driving a higher pace of DEG technology deployment in the region. One key factor accelerating industry growth is the increasing use of solar PV rooftop systems for commercial and residential applications.

The market for Distributed Energy Generation is expanding at the fastest rate in the Asia Pacific area due to the rising popularity of solar PV rooftops for commercial and residential uses. China is a significant provider of the raw materials used to make the parts for energy generation. Market growth is anticipated to be significantly influenced by the increased demand for energy due to the rising population and rapid urbanization in nations like China, India, Indonesia, and Malaysia. A sizable share of China's product demand is met, in particular, by its key regions. According to predictions, China's market will rise due to the rising disposable income in the nation.

The Global Distributed Energy Generation Market is Segmented as follows

• Technology
  • Micro-Turbines
  • Combustion Turbines
  • Micro-hydropower
  • Reciprocating Engines
  • Fuel Cells
  • Wind Turbines
  • Solar PV
  • Other Technologies
• End Use Industries
  • Residential
  • Commercial
  • Industrial
• Region
  • North America
  • Europe
  • Asia Pacific
  • Latin America
  • Middle East & Africa

List of the Key Players of the Global Distributed Energy Generation Market is

Vestas (Denmark), Caterpillar (U.S.), Capstone Green Energy Corporation (U.S.), Doosan Heavy Industries & Construction (South Korea), Toyota Tsusho Corporation (Japan), Rolls-Royce PLC (U.K.), General Electric (U.S.), Mitsubishi Electric Corporation (Japan), Schneider Electric (France), Siemens (Germany)

The Global Distributed Energy Generation Market Scope can be Tabulated as below