Global Distributed Generation (DG) Industry Insights Report 2023: Market to Reach $615.9 Billion by 2030 - Affordable, Efficient Energy Storage Technologies to Magnify the Disruptive Effect of DG
Saturday, December 9, 2023
DUBLIN, Dec. 1, 2023 /PRNewswire/ -- The "Distributed Generation (DG) - Global Strategic Business Report" report has been added to ResearchAndMarkets.com's offering.
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Global Distributed Generation (DG) Market to Reach $615.9 Billion by 2030
The global market for Distributed Generation (DG) estimated at US$245.8 Billion in the year 2022, is projected to reach a revised size of US$615.9 Billion by 2030, growing at a CAGR of 12.2% over the analysis period 2022-2030. Fuel Cells, one of the segments analyzed in the report, is projected to record 11% CAGR and reach US$92.9 Billion by the end of the analysis period. Growth in the Solar Pv Cells segment is estimated at 14.2% CAGR for the next 8-year period.
This comprehensive report examines the multifaceted impact of the COVID-19 pandemic on the power and energy sector, shedding light on how it has acted as a catalyst for the ongoing energy transition. Beyond addressing immediate challenges, the report provides strategic recommendations for the power and energy sector as it navigates the post-pandemic landscape.
A significant focus of the report is on the increased adoption of Demand Side Management Applications through Distributed Energy Resources (DERs), which have gained prominence due to the pandemic's disruptions. It explores the concept of distributed generation, encompassing a diverse range of resources and technologies. These include fuel cells, solar photovoltaic systems, distributed wind turbines, gas turbines, reciprocating engines, microturbines, and microhydroelectric generators, each with its typical installed capacity range and distinct applications.
The report highlights how distributed generation is transforming the electric power industry, with solar photovoltaic technology leading the growth trajectory. It points out that the commercial segment is the largest end-use market, while Europe stands as the largest regional market. Developing regions are experiencing rapid growth in this sector. The distribution of revenues between developed and developing regions in the world distributed generation market for 2021 and 2027 is also analyzed.
Key trends in the Distributed Energy Resources (DER) market are outlined, and the factors driving the deployment of distributed generation in both developed and developing economies are discussed. These drivers include environmental benefits, utility advantages, enhanced reliability and energy security, grid expansion benefits, and supportive government regulations and policies.
Furthermore, the report examines specific segments within distributed generation, such as distributed solar, distributed wind power (with a focus on the U.S. market), and the growing interest in distributed fuel cell generation systems, particularly Solid Oxide Fuel Cells (SOFCs) and natural gas-based distributed generation. It also covers technologies like reciprocating combustion engines (RCEs) and combustion turbines, providing details on power technology, size range, power efficiency, fuel options, and applications.
The U.S. Market is Estimated at $38.8 Billion, While China is Forecast to Grow at 16.5% CAGR
The Distributed Generation (DG) market in the U.S. is estimated at US$38.8 Billion in the year 2022. China, the world's second largest economy, is forecast to reach a projected market size of US$178.8 Billion by the year 2030 trailing a CAGR of 16.5% over the analysis period 2022 to 2030. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 7.9% and 8.5% respectively over the 2022-2030 period. Within Europe, Germany is forecast to grow at approximately 8.7% CAGR.
Select Competitors
What`s New?
-- Special discussions on the global economic climate and market sentiment
-- Coverage on global competitiveness and key competitor percentage market
shares
-- Market presence analysis across multiple geographies -
Strong/Active/Niche/Trivial
-- Online interactive peer-to-peer collaborative bespoke updates
-- Access to digital archives and trademarked research platform
-- Complimentary updates for one year
-- Access to curated YouTube video transcripts of market sentiments shared
by CEOs, domain experts and market influencers via interviews, podcasts,
press statements and event keynotes
MARKET TRENDS & DRIVERS
-- Robust Demand for Electricity Closer to the Point of Consumption Drives
Proliferation of DG Technologies
-- Projected Global Demand for Electricity (MWh): 2015, 2020, 2025, 2030 &
2035
-- Global Primary Energy Consumption (Billion toe): Growth Trajectory for
the Period 1990-2040
-- Global Energy Consumption (Billion toe) by Country/Region (1995, 2017
and 2040): Breakdown for USA, China, India, Russia, Brazil, EU, Middle
East and Rest of World
-- Estimated Global Power Generation Infrastructure Requirement (in US$
Billion) for China, India, Latin America, and North America over the
Period 2010-2030
-- Inefficiencies in Traditional Power Generation Model: Foundation for
Market Growth
-- High DG Penetration in the Long Run to Lead to Utility Companies' 'Death
Spiral'
-- Growing Focus on Renewable Energy: A Strong Growth Driver
-- Leading Wind Power Countries Worldwide: Ranking Based on Key Wind Power
Facts
-- Global Investments (US$ Billion) in Renewable Energy by Source: 2018
-- World Installed Base of Wind Energy (in Megawatts) by Geographic Region:
2018, 2021 & 2024
-- Smart Grids to Complement Integration of DG Resources in Electric
Utility Network
-- Innovative Application of Smart Grid in Enabling Energy Security
-- Distributed Generation: A Key Enabler of Smart Cities
-- Number of Smart Cities Worldwide by Geographic Region (2025E)
-- Microgrids and Distributed Generation Transform Electricity Management
Forever
-- Global Distributed Generation Capacity in Microgrids by Type (2021):
Percentage Breakdown of Capacity Installations for Diesel Generators,
Fuel cells, Natural Gas Generators, Small Wind Turbines, Solar PV
Systems, and Others
-- DG Prosumers Continue to Depend on Utility Grids, Equitable Cost Sharing
a Major Priority
-- Virtual Power Plants (VPPs): The DG Technology with Tremendous Growth
Potential
-- Affordable, Efficient Energy Storage Technologies to Magnify the
Disruptive Effect of DG
-- Commercialization of Stationary Fuel Cells to Revolutionize DG Market
-- Solar PV Attains Grid Parity: A Major Milestone for DG
-- Surging Demand from Telecom Network Operators Augurs Well for the DG
Market
-- Favorable Demographic and Urbanization Trends Strengthens Market
Prospects
-- World Population by Geographic Region (2000-2050) (in Millions)
-- Rapid Urbanization: A Mega Growth Driver for Distributed Generation
-- World Population Urbanization Rate (%) by Region/Country: 2016 & 2040
-- Key Challenges Hampering Large Scale Deployment of Distributed
Generation
-- Technical Barriers
-- Lower Energy-Efficiency, Higher Costs of DG Equipment
FOCUS ON SELECT PLAYERS (Total 52 Featured)
-- Capstone Green Energy Corporation
-- Caterpillar, Inc.
-- Cummins, Inc.
-- Doosan Heavy Industries & Construction Co., Ltd.
-- E.ON SE
-- Ballard Power Systems, Inc.
-- Ansaldo Energia SpA
-- Ameresco, Inc.
-- Bloom Energy Corporation
-- ENERCON GmbH
-- Convion Ltd.
-- Doosan Fuel Cell America, Inc.
-- EDF Renewable Energy
-- Caterpillar Inc.
-- Emergya Wind Technologies B.V.
For more information about this report visit https://www.researchandmarkets.com/r/4clf3j
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