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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
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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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Ricoh and LG Announce Global Partnership to Enhance Workplace Experience Solutions

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Expanding communication services capability in the global B2B market

TOKYO, Sept. 20, 2024 /PRNewswire/ — Ricoh Company, Ltd. today announced that it has concluded a memorandum of understanding (MOU) with LG Electronics (LG), a trusted partner offering innovative products and customized solutions for diverse industries worldwide, to collaborate on digital solutions for workplaces. Pairing Ricoh’s communication services and LG’s display products, this partnership will deliver B2B customers in the global market an elevated user experience and exceptional customer value. Through this partnership, Ricoh will further enhance its capability in the Workplace Experience domain, one of its growth areas, and it aims to be the top global audiovisual (AV) integrator.

Partnering with LG, Ricoh will strive to enhance its communication services in the Workplace Experience domain. Integration of high-quality devices such as signages and displays into Ricoh solutions will enrich Ricoh’s product and service portfolio and achieve a stable global supply. In addition, the two companies will jointly drive associated sales and marketing efforts and explore new business opportunities as the partnership unfolds.

Takahiro Irisa, Senior Corporate Officer and President of Ricoh Digital Services and Paik Ki-Mun, Senior Vice President and Head of the Information Display Business Unit of LG Business Solutions Company, present the signed memorandum of understanding.

As its mid-term vision, Ricoh aims to provide consistent global services as a workplace services provider in the changing workplace. In the Workplace Experience domain, Ricoh provides solutions enabling seamless collaboration in offices and other workplaces where hybrid work has become commonplace, enhancing people’s creativity. Ricoh empowers customers to focus on value adding, creative tasks and achieve organizational growth through its integrated solution propositions of hardware, software, and managed services that comfortably utilize them.

“The pairing of Ricoh’s office solutions with LG’s advanced display products will deliver impressive value to customers and further establish LG as one of the most trusted providers of integrated solutions in the B2B market,” said Paik Ki-Mun, Senior Vice President and Head of the Information Display Business Unit of LG Business Solutions Company. “LG will continue to pursue strategic partnerships with innovative global companies to create customized solutions for today’s business environment.”  

Takahiro Irisa, Senior Corporate Officer and President of Ricoh Digital Services Business Unit, Ricoh Company, Ltd. said “We firmly believe that this global strategic partnership with LG will accelerate Ricoh’s Workplace Experience business. Through the synergy between LG’s advanced display products and Ricoh’s communication services, we will continue to offer optimal workplace to our customers as a workplace services provider. Ricoh will continue to execute strategic partnerships to empower our customers to achieve fulfilment through work.”

 

 

| About Ricoh |

Ricoh is a leading provider of integrated digital services and print and imaging solutions designed to support the digital transformation of workplaces, workspaces and optimise business performance.

Headquartered in Tokyo, Ricoh’s global operation reaches customers in approximately 200 countries and regions, supported by cultivated knowledge, technologies, and organisational capabilities nurtured over its 85-year history. In the financial year ended March 2024, Ricoh Group had worldwide sales of 2,348 billion yen (approx. 15.5 billion USD).

It is Ricoh’s mission and vision to empower individuals to find ‘Fulfillment through Work’ by understanding and transforming how people work so we can unleash their potential and creativity to realise a sustainable future.

For further information, please visit www.ricoh.com

 

###

 

© 2024 RICOH ASIA PACIFIC PTE LTD. All rights reserved. All referenced product names are the trademarks of their respective companies.

 

 

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SOURCE Ricoh Asia Pacific Pte Ltd

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Wright, Moore, DeHart, Dupuis & Hutchinson Provides Notice of Data Security Incident

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LAFAYETTE, La., Sept. 19, 2024 /PRNewswire/ — Wright, Moore, DeHart, Dupuis & Hutchinson (“WMDDH”) has become aware of a data security incident that may have involved individuals’ personal information. WMDDH is providing notification to the potentially involved individuals about this incident, providing steps they can take to help protect their personal information, and offering the opportunity to enroll in complimentary credit monitoring and identity protection services.

What Happened. On or around July 11, 2023, WMDDH became aware of unusual network activity and immediately took steps to secure our systems. We launched an investigation with the assistance of leading cybersecurity experts to determine what happened and whether sensitive or personal information may have been affected during the incident. As a result of the investigation, we identified that certain WMDDH data may have been acquired without authorization. WMDDH then engaged an independent team to conduct a comprehensive review of all potentially affected data, and on May 8, 2024, that review determined that personal information may have been affected. WMDDH then worked diligently to identify contact information to effectuate notification and prepare the services being offered to affected individuals, as provided in more detail below. This process was completed on July 18, 2024.

What Information Was Involved. The information involved may have included individuals’ names, Social Security numbers, driver’s license numbers, financial account numbers, passport numbers, and/or medical/treatment information.

What We Are Doing. As soon as WMDDH learned of the incident, we took the measures described above and implemented additional security features to reduce the risk of a similar incident occurring in the future. We are also providing information about steps individuals can take to help protect their personal information.

Additionally, we are offering impacted individuals the opportunity to enroll in credit monitoring and identity protection services through Equifax®.

What You Can Do. Please review this notice carefully, along with the guidance included with this notice about additional steps that can be taken to protect your information.

WMDDH takes the security of information in its possession very seriously and has taken steps to prevent a similar event from occurring in the future. We deeply regret any concern or inconvenience this may cause.

Additional information is also available via WMDDH’s website.

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SOURCE Wright, Moore, DeHart, Dupuis & Hutchinson

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AIE Graduates create visual effects for Academy-nominated film

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NAWI, a feature film whose visual effects were created by graduates from the Academy of Interactive Entertainment (AIE), has been officially nominated by Kenya for entry into the 97th Academy Awards in the category of Best International Feature Film. NAWI is a heartfelt story about a young girl’s journey towards empowerment and aims to shed light on a pressing issue that affects countless young women in the Turkana region of Kenya.

CANBERRA, Australia, Sept. 19, 2024 /PRNewswire-PRWeb/ — NAWI, a feature film whose visual effects were created by graduates from the Academy of Interactive Entertainment (AIE), has been officially nominated by Kenya for entry into the 97th Academy Awards in the category of Best International Feature Film. NAWI is a heartfelt story about a young girl’s journey towards empowerment and aims to shed light on a pressing issue that affects countless young women in the Turkana region of Kenya.

“The film has a very important social message to tell so it was rewarding in many ways to be able to contribute to this project. NAWI was a fantastic opportunity for our graduates to put their skills to the test on a full-length feature film,” said Tom Pugh.

AIE graduates and teachers were given the opportunity to work on the film’s visual effects through AIE’s ongoing partnership with Learning Lions, who produced the film with Film Crew & Baobab Pictures. AIE is proud to support Learning Lions non-profit mission to enable young adults in marginalised rural communities of East Africa to become digital creatives by providing game development training and technology.

The visual effects for NAWI were brought to life by AIE teachers and experienced industry professionals, Thomas Magill and Tom Pugh, who were tasked with supervising the visual effects and liaising with the film’s Directors, Apuu Mourine, Kevin Schmutzler, Tobias Schmutzler and Toby Schmutzler. They assembled a team of recent AIE graduates and worked out how to create the effects required to immerse audiences in Nawi’s world.

“Graduates were able to take the skills they had learnt in class and apply them to cinema-quality footage. There was even a bit of nervous excitement working with professional expectations and deadlines,” said Tom Pugh.

Thomas Magill explained that most of the work involved compositing such as fixing blemishes, removing unwanted folds in clothing, changing pages in a book and removing background actors that were in the wrong place.

“We had a river shot where there was only a sandbank, and we had to create an entire island! There were several shots filmed in a dry riverbed which required us to create floodwater. We had to draw upon various disciplines: not just digital compositing but also visual effects creation and fluid simulations,” said Thomas Magill.

Both teachers enthused that the directors were a pleasure to work with and the collaboration was smooth.

“The film has a very important social message to tell so it was rewarding in many ways to be able to contribute to this project. NAWI was a fantastic opportunity for our graduates to put their skills to the test on a full-length feature film,” said Tom Pugh.

Learning Lions and AIE look forward to seeing NAWI progress through two rounds of voting by members of the Academy of Motion Picture Arts and Sciences to narrow the list of submitted films down to five nominees for the Best International Feature Film.

About Academy of Interactive Entertainment (AIE)

AIE offers practical, career-focused courses delivered by industry-experienced teachers in 3D animation, game development, visual effects and film. Since 2019 AIE has sponsored scholarships to their Certificate and Diploma programs to Learning Lions student. AIE provided laptops and is supporting with opportunities at various gaming companies around the world for paid part-time and full-time work.

https://aie.edu.au/

About Learning Lions

Learning Lions is fighting poverty with digital opportunity. Established in 2015, Learning Lions equips local youth with essential IT and media skills, and empowering them to become entrepreneurs and self-sustaining individuals. By leveraging digital services, these aspiring entrepreneurs not only support themselves but also provide opportunities for others through employment and mentorship.

https://www.learninglions.org/

Media Contact

Neil Boyd, Academy of Interactive Entertainment, 61 434273190, neilb@aie.edu.au, https://aie.edu.au/

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SOURCE Academy of Interactive Entertainment

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