The Report Distributed Generation Market by Technology (Solar PV, Wind, Reciprocating Engines, Microturbines, Fuel Cell, Gas Turbines), by End-User (Industrial, Commercial, Residential) and by Application (On-Grid, Off-Grid) The increasing adoption of Distributed Generation Market as a sustainable and high-performance material drives its market growth.
The global Distributed Generation Market is on track to achieve significant growth, with a projected reached a value of US $ 243.88 Bn. in 2022. Distributed Generation industry size is estimated to grow at a CAGR of 10.9%.
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Technology segment with the quickest growth
The Distributed Generation Market is divided into Solar PV, Wind, Reciprocating Engines, Microturbines, Fuel Cells, and Gas Turbines categories based on technology. By accounting for in 2021, the Fuel Cell sector had the biggest market share. Compared to conventional technologies, the Fuel Cell converts fuels to electricity with a high efficiency of 35%–60%, minimising greenhouse gas emissions. Due to the absence of combustion, there are hardly any harmful emissions. Because of its high level of dependability, fuel cells are utilised to complement or take the place of grid-based electricity.
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Industrial, Commercial and Residential segments based on the type of End-User in Distributed Generation Market
The Distributed Generation Market is divided into three categories based on the end-user: industrial, commercial, and residential. By accounting for in 2021, the commercial sector held the highest market share. An surge in roof-top solar installations, which are self-sufficient and cost-effective implementations, is blamed for the category growth. Additionally, governments throughout the world are working to pass regulations that will encourage the use of renewable technology in these applications because it is more efficient, secure in terms of energy, less polluting, and resilient than conventional methods of producing electricity.
Asia Pacific region is positioned as a frontrunner in the Distributed Generation Market
40% of the market was accounted for by the Asia Pacific region in 2022. The region’s distributed generation systems have rapidly expanded as a result of the increased energy demand from the commercial, industrial, and residential sectors. Favourable government policies, incentives including tax credits, and an emphasis on renewable energy are all credited with the region’s prosperity. China, Japan, and India are the three countries that produce the most solar and biogas energy, respectively. On May 31, 2021, China’s National Development and Reform Commission (NDRC), Ministry of Finance, and National Energy Board announced that all subsidies for utility-scale solar projects would end, and that feed-in rates would be reduced in favour of competitive bidding. This choice is anticipated to result in a 43% decrease in demand in the Chinese solar sector. In 2022, 44.26 GW
Distributed Generation Market Key Players:
1.Siemens 2. Schneider Electric 3. General Electric 4. Mitsubishi Heavy Industries 5. Capstone 6. Caterpillar 7. Ansaldo Energia 8. Fuelcell Energy 9. Cummins 10. Bloom Energy 11. Bergey 12. Doosan Fuel Cell America 13. Vestas Wind Systems A/S 14. Rolls-Royce Power Systems AG 15. Toyota Turbine and Systems Inc.
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