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Global Distributed Energy Generation Market to Expand at 11.3% CAGR, Reaching $241.6 Billion by 2028

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Distributed Energy Generation Powering the Global Market Towards Sustainability with Expected Growth from $141.3 Billion in 2023 to $241.6 Billion by 2028, According to Latest BCC Research Study

BOSTON, June 7, 2024 /PRNewswire/ — As the world moves toward sustainable energy solutions, the distributed energy generation (DEG) market is expanding at a rate never seen before. Alternatives to conventional energy sources that are decentralized, effective, and ecologically benign include DEG technology like solar PV and wind turbines.

According to the latest BCC Research study, the demand for The Global Market for Distributed Energy Generation is estimated to increase from $141.3 billion in 2023 to reach $241.6 billion by 2028 with a compound annual growth rate (CAGR) of 11.3% during the forecast period of 2023-2028.

The report provides a comprehensive analysis of distributed energy generation technologies, including reciprocating engines, small hydropower, solar PV, small combustion turbines, small wind, fuel cells, and microturbines. It examines market trends and opportunities, offering detailed insights into manufacturers’ revenues and market dynamics. The report covers technological advancements, economic conditions, and standards both domestically and internationally. It also assesses the regional policy, regulatory frameworks, and ESG considerations to ensure environmental sustainability and compliance with government regulations. Forecasts are provided for 2023 to 2028, using 2022 as the base year, and the competitive landscape, including key and regional players, is analyzed. Market values, presented in USD million, include costs of new and replacement DG equipment but exclude installation, appurtenances, and site-specific engineering costs.

To learn more about “The Global Market for Distributed Energy Generation Report”, please click here for more information.

The following factors drive The Global Market for Distributed Energy Generation:

Growing Focus on Renewable Energy to Achieve Zero-Emission Targets: Governments and organizations worldwide are increasingly emphasizing renewable energy to combat climate change and reduce greenhouse gas emissions. DEG technologies like solar PV and wind turbines are essential in achieving these sustainability goals by generating electricity locally and reducing transmission losses.

Augmenting Demand for Electricity Across the Globe: As populations and economies grow, the demand for electricity rises, challenging traditional centralized power generation. DEG offers a solution by producing electricity near the point of use, ensuring greater reliability and resilience, especially during grid disruptions.

Significant Cost Reductions in Solar PV Systems: Over the past decade, the cost of solar PV panels has significantly decreased due to technological advancements and improved manufacturing processes. This has made solar PV systems more affordable and popular for both residential and commercial installations.

Cost Efficiency of Wind Energy Installations: Advances in wind turbine technology have increased efficiency and reduced costs, making wind energy a crucial part of DEG. Wind turbines can be installed onshore and offshore, effectively harnessing wind power and supporting the growth of distributed energy generation.

Request a Sample Copy of The Global Market for Distributed Energy Generation Report.

Report Synopsis 

Report Metrics

Details

Base year considered

2022

Forecast Period considered

2023-2028

Base year market size

$133.5 billion

Market Size Forecast

$241.6 billion

Growth rate

CAGR of 11.3% for the forecast period of 2023-2028

Segment Covered

Technology

Regions covered

Europe, North America, APAC (Asia-Pacific), South America, Middle East and Africa (MEA)

Key Market Drivers

 

Growing Focus on Renewable Energy to Achieve Zero-Emission Targets Augmenting Demand for Electricity Across the Globe Significant Cost Reductions in Solar PV Systems Cost Efficiency of Wind Energy Installations

Key Facts about The Global Market for Distributed Energy Generation:

DG technologies offer new power system opportunities but pose challenges during grid failures.Many countries are experimenting with DG on a smaller scale to understand its benefits.According to the IEA, DERs like distributed PV and EVs aid decarbonization by enabling fuel switching.The EPIA states that solar PV systems emit 16-32 g/kWh of carbon, much less than fossil fuel combustion’s 300-1,000 g/kWh.Solar PV is expected to help reduce carbon footprints and combat global warming.

The Global Market for Distributed Energy Generation Report contains comprehensive information and analysis covering the following key questions:

What is the projected market size and growth rate of the market?
The market is projected to grow from $133.5 billion in 2022 to $241.6 billion in 2028, at a compound annual growth rate (CAGR) of 11.3% during the forecast period.What are the key factors driving the growth of the market?
The key factors driving the growth of the distributed energy generation market include the growing demand for energy and the increasing use of renewable energy sources.What segments are covered in the market?
The distributed energy generation market is segmented based on technology and region.By Technology, which segment will dominate the market by the end of 2028?
The reciprocation engine segment will dominate the market by the end of 2028.Which region has the highest market share in the distributed energy generation market?
APAC holds the highest share in the market by value.

Some of the Key Market Players are:

ANSALDO ENERGIA S.P.A.BLOOM ENERGYCATERPILLAR ENERGY SOLUTIONS GMBHCUMMINS INC.DOOSAN ENERBILITYENGIE S.A.GENERAL ELECTRICMITSUBISHI HEAVY INDUSTRIES LTD.ROLLS-ROYCESIEMENS ENERGY AG

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Wind Turbines: Technologies, Applications, and Global Markets: This report provides a comprehensive analysis of various aspects of the wind turbine market, including different turbine types, installation types, grid connectivity, end-use, capacity rating, end users, and regional market developments. Major countries like the U.S., China, Germany, and others are highlighted as lucrative opportunities for wind turbines. It’s presented in an easy-to-understand format, featuring tables and figures that illustrate historical, current, and future market scenarios. Leading companies are profiled with details on product types, business presence, revenue, and more, while other players in global and regional markets are also listed. Additionally, the report includes a patent analysis, recognizing wind turbines as a significant investment area. It also addresses the impact of major events such as COVID-19 and the RussiaUkraine war on both global and regional markets. The market data is based on 2021 as the base year, with estimated values for 2022 and forecasts extending to 2027, all expressed in millions of dollars, with market shares and compound annual growth rates provided in percentages.

Directly Purchase a copy of the report with BCC Research.

For further information or to make a purchase, please get in touch with info@bccresearch.com.

About BCC Research

BCC Research provides objective, unbiased measurement and assessment of market opportunities with detailed market research reports. Our experienced industry analysts’ goal is to help you make informed business decisions, free of noise and hype.

Contact Us
Corporate HQ: 50 Milk St. Ste 16, Boston, MA 02109, USA
Email: info@bccresearch.com,
Phone: +1 781-489-7301

For media inquiries, email press@bccresearch.com or visit our media page for access to our market research library.

Data and analysis extracted from this press release must be accompanied by a statement identifying BCC Research LLC as the source and publisher.

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SOURCE BCC Research LLC

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BASX Hosts Ribbon-Cutting Ceremony for New State-of-the-Art Weld Shop

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REDMOND, Ore., Sept. 19, 2024 /PRNewswire/ — BASX (“BASX” or the “Company”), a leader in the manufacturing of high-efficiency data center cooling solutions, cleanroom systems, and custom HVAC systems, is proud to announce the official ribbon-cutting ceremony for its newly completed 36,000-square-foot weld shop. The Redmond Chamber of Commerce performed the ribbon cutting on September 18th, 2024, at BASX headquarters.

The weld shop will create significant job opportunities in the Central Oregon region, with the capacity to fill an additional 30 welding positions. Positions range from entry-level to experienced roles, with professional opportunities in various growing departments within the Company.

“This new facility is a major investment not just in our company, but in the future of Central Oregon,” said Dave Benson, AAON VP and BASX President. “We can now deliver even higher levels of quality and efficiency while providing more job opportunities for the community. We’re proud to support local manufacturing growth and look forward to seeing the impact this expansion will have on both BASX and the region.”

The new shop marks a major expansion in the Company’s production capabilities, introducing state-of-the-art welding technology within a climate-controlled environment. Equipped with advanced air filtration systems, including an AAON make-up air unit and multiple air scrubbers, the shop ensures exceptional air quality for its workers. The space also features two 5-ton overhead cranes and six ½-ton cantilever jib cranes, allowing for efficient movement of materials across the facility.

A key highlight of the facility is its cutting-edge tube laser, capable of precision cutting and profiling round and square tubes, as well as C-channel and I-beam profiles up to 27 feet in length. Additionally, a 75-foot-long dual-zone robotic welding cell is scheduled to be installed and operational in early 2025, enabling the welding of large subassemblies up to 10 tons.

The shop’s innovative capabilities will support the Company’s growth and solidify its position for ongoing expansion. In addition to the 30 new welding jobs, BASX is actively hiring across various departments to support its continued success. To learn more about available positions and apply, visit the BASX careers page at www.basxsolutions.com/careers.

About BASX
Founded in 2014 in Central Oregon, BASX is an industry leader in the manufacturing of high-efficiency data center cooling solutions, cleanroom systems, custom HVAC systems, and modular solutions. Acquired by AAON in 2021, BASX continues to focus on quality, innovation, and state-of-the-art technology. The Company is proud to display the Made-in-America emblem on all its products. For more information, please visit www.basx.com.

Contact Information
Christina Lattanzio
Marketing Manager
(918) 508-9272
Email: Marketing@basx.com

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SOURCE AAON

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NASA Sets Coverage for Astronaut Tracy C. Dyson, Crewmates Return

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WASHINGTON, Sept. 19, 2024 /PRNewswire/ — NASA astronaut Tracy C. Dyson, accompanied by Roscosmos cosmonauts Nikolai Chub and Oleg Kononenko, will depart from the International Space Station aboard the Soyuz MS-25 spacecraft, and return to Earth.

Dyson, Chub, and Kononenko will undock from the orbiting laboratory’s Prichal module at 4:37 a.m. EDT Monday, Sept. 23, heading for a parachute-assisted landing at 8 a.m. (5 p.m. Kazakhstan time) on the steppe of Kazakhstan, southeast of the town of Dzhezkazgan.

NASA’s live coverage of return and related activities will stream on NASA+ and the agency’s website. Learn how to stream NASA content through a variety of platforms, including social media.

A change of command ceremony also will stream on NASA platforms at 10:15 a.m. Sunday, Sept. 22. Kononenko will hand over station command to NASA astronaut Suni Williams for Expedition 72, which begins at the time of undocking.

Spanning 184 days in space, Dyson’s mission includes covering 2,944 orbits of the Earth and a journey of 78 million miles. The Soyuz MS-25 spacecraft launched March 23, and arrived at the station March 25, with Dyson, Roscosmos cosmonaut Oleg Novitskiy, and spaceflight participant Marina Vasilevskaya of Belarus. Novitskiy and Vasilevskaya were aboard the station for 12 days before returning home with NASA astronaut Loral O’Hara on April 6.

Kononenko and Chub, who launched with O’Hara to the station on the Soyuz MS-24 spacecraft last September, will return after 374 days in space and a trip of 158.6 million miles, spanning 5,984 orbits.

Dyson spent her fourth spaceflight aboard the station as an Expedition 70 and 71 flight engineer, and departs with Kononenko, completing his fifth flight into space and accruing an all-time record 1,111 days in orbit, and Chub, who completed his first spaceflight.

After returning to Earth, the three crew members will fly on a helicopter from the landing site to the recovery staging city of Karaganda, Kazakhstan. Dyson will board a NASA plane and return to Houston, while Kononenko and Chub will depart for a training base in Star City, Russia.

NASA’s coverage is as follows (all times Eastern and subject to change based on real-time operations):

Sunday, Sept. 22
10:15 a.m. – Expedition 71/72 change of command ceremony begins on NASA+ and the agency’s website.

Monday, Sept. 23
12:45 a.m. – Hatch closing coverage begins on NASA+ and the agency’s website.

1:05 a.m. – Hatch closing

4 a.m. – Undocking coverage begins on NASA+ and the agency’s website.

4:37 a.m. – Undocking

6:45 a.m. – Coverage begins for deorbit burn, entry, and landing on NASA+ and the agency’s website.

7:05 a.m. – Deorbit burn

8 a.m. – Landing

For more than two decades, people have lived and worked continuously aboard the International Space Station, advancing scientific knowledge, and making research breakthroughs that are not possible on Earth. The station is a critical testbed for NASA to understand and overcome the challenges of long-duration spaceflight and to expand commercial opportunities in low Earth orbit. As commercial companies focus on providing human space transportation services and destinations as part of a robust low Earth orbit economy, NASA is focusing more resources on deep space missions to the Moon as part of Artemis in preparation for future human missions to Mars.

Learn more about International Space Station research and operations at:

https://www.nasa.gov/station

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SOURCE NASA

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Global claims guidance leader EvolutionIQ joins as CALI’s inaugural Life Partner

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NEW YORK, Sept. 20, 2024 /PRNewswire/ — US-based EvolutionIQ, a global leader in claims guidance technology, has signed on as the Council of Australian Life Insurers (CALI)’s first Life Partner as part of its corporate partner program.

The CALI Partner Program is designed to foster collaboration and create a connected ecosystem of industry experts.

CALI Life Partners share the industry’s mission to make life insurance accessible, understandable and trusted. They are companies that support Australian life insurers to help Australians and their families have peace of mind about their future so they can live in the most healthy, confident and secure way.

“We are pleased to welcome EvolutionIQ as CALI’s inaugural Life Partner. The CALI Partner Program plays an important role in connecting our members to the latest innovators, like EvolutionIQ, that can move their businesses forward,” said CALI CEO Christine Cupitt.

“We want to work closely with each of our partners to strengthen and support the life insurance industry to deliver better customer experiences for millions of Australians on their best and worst days.”

Headquartered in New York, EvolutionIQ has expanded significantly since 2019. Its clients include major insurance carriers such as Sun Life, Reliance Matrix and Principal Financial. Their AI-powered software makes insurance claims processes more personalised, fair and cost-effective so that more people can recover faster and return to work.

“We are committed to supporting the Australian life insurance ecosystem and being a CALI Life Partner enables us to specialise our products to meet the dynamic needs of the Australian markets,” said EvolutionIQ’s Co-CEO, Mike Saltzman.

“Our partnership with CALI means we can contribute to and shape customer experiences in Australia, and ultimately help more people return to health and a livelihood sooner.”

About EvolutionIQ
EvolutionIQ pioneered Claims Guidance in 2019. Its explainable AI guides insurance claims professionals to their highest potential impact claims, improving the claimant experience and delivering better claim outcomes to claimants, carriers and their customers. EvolutionIQ serves the group disability, individual disability and workers’ compensation markets worldwide. EvolutionIQ’s AI native products have been adopted by 70% of the top 15 U.S. disability carriers and a growing list of workers’ compensation carriers. The New York-based company employs 185 staff across the United States, Europe and Australia. For more information, visit evolutioniq.com and follow the company on LinkedIn.

About CALI
We support Australians to make informed choices about their future and help them live in a healthy, confident and secure way over their lifetime.

Our members’ products and services give people peace of mind when making important decisions and provide a financial safety net during life’s biggest challenges.

We advocate for national policy settings that expand Australians’ access to the life insurance protection that suits them when they need it most.

CALI represents all life insurers and reinsurers in Australia. The Australian life insurance industry is today a $26.4billion industry, employing thousands of Australians and paying billions of dollars of benefits each year.

To view CALI’s corporate partners visit www.cali.org.au/about-us/#our-partners

For more information, visit www.cali.org.au

Media Contact
Jason Kapler
Vice President of Marketing
EvolutionIQ
(917) 740-5608
Press@evolutioniq.com

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SOURCE EvolutionIQ

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