The increasing demand for power worldwide and decreasing prices of star technology square measure driving the marketplace for distributed generation across the planet. The distributed generation market is projected to achieve from USD 60.04 billion in 2017 to USD 103.38 billion, by 2022, growing at a CAGR of 11.48%, from 2017 to 2022. The employment of distributed generation in business areas is increasing as these areas cannot afford the loss of power thanks to faults in transmission and distribution networks.
Distributed Generation Market is projected to grow at a CAGR of 11.48%, from 2017 to 2022
The distributed generation market is projected to reach from USD 60.04 billion in 2017 to USD 103.38 billion, by 2022, growing at a CAGR of 11.48%, from 2017 to 2022. The increasing demand for electric power worldwide and decreasing costs of solar technology are driving the market for distributed generation across the world.
The commercial segment is expected to hold the largest share of the distributed generation market, by end-user, during the forecast period
The commercial segment is expected to grow quickly in the global distributed generation market during the forecast period. This can be attributed to the increase in the number of commercial spaces such as shopping complexes, hospitals, airports, and office buildings. The use of distributed generation in commercial spaces is increasing as these spaces cannot afford the loss of power due to faults in transmission and distribution networks. The use of distributed generation also helps to reduce transmission and distribution losses.
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Europe: The largest market for distributed generation
Europe is the largest market for distributed generation followed by Asia Pacific and North America. The focus of the governments of countries such as Germany, the UK, and Russia for increased renewable energy contributions in regional electricity generation mix is expected to boost the demand for distributed generation. Furthermore, the increase in the demand for electrical energy due to urbanization and industrialization is likely to impact the growth opportunities of distributed generation in Europe.
Breakdown of Primaries:
In-depth interviews have been conducted with various key industry participants, subject matter experts, C-level executives of key market players, and industry consultants among other experts, to obtain and verify critical qualitative and quantitative information, as well as to assess future market prospects. The distribution of primary interviews is as follows:
- By Company Type: Tier 1- 20%, Tier 2- 55%, Tier 3- 25%
- By Designation: C-Level- 50%, D-Level- 25%, Others- 25%
- By Region: North America- 40%, Europe- 23%, Asia Pacific- 17%, South America- 11%, Middle East & Africa- 9%
Note: The tier of the companies has been defined on the basis of their total revenue; as of 2016: Tier 1 = >USD 5 billion, Tier 2 = USD 1 billion to USD 5 billion, and Tier 3 = <USD 1 billion
The leading players in the distributed generation market are Siemens (Germany), GE (US), Schneider (France), Mitsubishi (Japan), and Capstone (US).
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