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
Browse More Related Reports:
Global Hydrogen Economy: Merchant Hydrogen and Hydrogen Purification Technologies: The report delves into the worldwide market concerning technologies involved in the entire hydrogen supply chain, including its production, storage, and distribution. It also encompasses its conversion into different energy forms or its direct use as a fuel. Additionally, it covers miscellaneous technologies related to hydrogen, such as hydrogen sensors. The market figures provided are estimations of investment costs derived from manufacturer data and various other sources. Revenue projections are presented in constant U.S. dollars, without adjustments for inflation.
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 Russia–Ukraine 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.
Logo: https://mma.prnewswire.com/media/2183242/BCC_Research_Logo.jpg
View original content:https://www.prnewswire.com/news-releases/global-distributed-energy-generation-market-to-expand-at-11-3-cagr-reaching-241-6-billion-by-2028–302166980.html
SOURCE BCC Research LLC
Technology5 days ago
Technology4 days ago
Coin Market3 days ago
Coin Market4 days ago
Technology4 days ago
Technology4 days ago
Technology4 days ago
Coin Market3 days ago