Albany, NY -- (SBWIRE) -- 06/07/2018 -- According to the research report, in 2011, the global DEG systems market was worth US$99.7 bn and is estimated to reach a value of US$155.8 bn by the end of 2018, exhibiting a healthy 6.70% CAGR between 2012 and 2018. In addition, in 2011, the annual installation capacity of DEG was 81,875.7 MW and is projected to be 180,093.6 MW by the end of 2018, exhibiting a substantial 11.90% CAGR between 2012 and 2018.
Distributed energy generation systems make use of renewable energy sources such as biomass, wind power, small hydro, solar power, biogas, and geothermal power. DEG systems plays an important role in electric power distribution system. The shift in preference towards green energy is one of the major factors that are encouraging the demand for DEG systems across the globe. Moreover, the opportunity in developing nations and development of eco-friendly DEG systems are the key opportunities for the growth of the market.
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The global DEG systems market has been segmented on the basis of technology into fuel cells, solar photovoltaic, wind turbines, reciprocating engines, combined heat and power, and micro-turbines. In 2011, the combined heat and power segment dominated the overall market, holding a 48% share in the global DEG systems market. By application, the global DEG systems market is categorized into off-grid and on-grid segments.
Presently, the on-grid segment leads the DEG systems market, whereas the off-grid segment held a 1% share in the global market. Some of the major applications of DEG systems are buildings and institutions, residential, and commercial and industrial installations. Among these, in 2011, the commercial and industrial installations segment dominated the market, holding a 74% share in the global DEG systems market.
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The global DEG systems market has been classified on the basis of geography into the Middle East and Africa, Europe, North America, Asia Pacific, and Rest of the World. In 2011, the Europe market led the overall market, holding a 39% share in the global DEG systems market. Europe is followed by Asia Pacific owing to the adoption of financial incentive schemes in several countries such as Japan, India, and China, where low production cost is encouraging the demand for DEG systems.
Similarly, North America is estimated to grow at a fast pace owing to the increased adoption of PV technology to generate electricity in the entire region. The North America market is projected to reach a value of US$37.33 bn by the end of 2018. The Middle East and Africa DEG systems market is also expected to witness substantial growth throughout the forecast period owing to the increasing demand for energy.
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Furthermore, the research study talks about the competitive landscape of the global DEG systems market, emphasizing on the profiles, financial overview, and business policies of the major players, and recent developments in the market. Some of the prominent players operating in the global DEG systems market are E.On SE, GE Energy, Capstone Turbine Corporation, Alstom, Siemens Energy, Mitsubishi Power Systems, Vestas, and Caterpillar Power Plants.