Albany, NY -- (SBWIRE) -- 05/16/2018 -- Transparency Market Research has published a new report titled "Distributed Generation Market (Technology: Solar Photovoltaic, CHP, Wind Turbine, Reciprocating Engines, Micro Turbines, and Fuel Cells; Application: On-Grid and Off-Grid; End Use: Residential, Building & Institutions, Commercial, and Industrial): Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2017–2025." According to the report, the global distributed generation market Y-o-Y investment potential was valued at US$ 15.03 Bn in 2016 and is estimated to reach US$ 35.56 Bn by 2025, expanding at a modest CAGR of 8.2% between 2017 and 2025.
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In terms of market growth potential as well as Y-o-Y investment potential share, Asia Pacific led the distributed generation in 2016, followed by Europe and North America, by comprising over 95% of the global investment share.
distributed generation market
In terms of Y-o-Y investment potential, Asia Pacific is expected to observe a firm growth in its share during the forecast period, while there is expected to be a decline in the shares for the Europe and North America. Expansion in the distributed generation market in Asia Pacific is primarily ascribed to the expansion of distributed generation installed capacity and the ever-increasing demand from industrial and residential end-users and rising demand of power from off-grid areas. The cost of expansion of electricity grid in off-grid areas is high which would increase the cost of electricity to the consumers. Growing installed power generation capacity of renewable energy based distributed generation in off-grid sectors and CHP technology based distributed generation in On-grid sector would boost the Y-o-Y investment potential in Asia-Pacific.
Asia Pacific shows strong potential for the distributed generation market in the forecast period due to the high growth in installed capacity of distributed generation systems, supportive government policies, growing demand from industrial & residential sectors, and reduction of carbon emissions from power generation sources in the region. Popularity of renewable energy based distributed generation systems which generates low cost and clean energy would also drive the market for distributed generation in the region. China and Japan are the major drivers for growth of renewable energy based distributed generation systems in the region. China has installed highest solar PV capacity in 2016 around the globe with major upcoming projects based on solar PV are under construction, which is projected to raise the cumulative installed solar PV capacity in upcoming time. Japan has also harnessed floating solar PV technology to raise its total installed solar PV capacity.
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The demand for distributed generation in Europe is high in 2016 and mostly accounted by countries such as the Netherlands, Denmark, Russia, Spain, and Germany. The Western Europe is comparatively mature market than Eastern Europe with higher demand for distributed generation as well as high renewable energy based distributed generation systems such as solar PV and wind turbines technologies, the off-grid application segment is anticipated to show comparatively higher promise in terms of growth potential.
North America and Europe are considered as mature markets due to the presence of well-established renewable energy infrastructure, government incentives on use of renewable energy based electricity, stringent environmental emission regulations, and to connect off-grid and natural calamities affected areas with small mini/micro grids running on power produced from distributed generation systems, which enables major players in distributed generation systems in these regions to establish their presence in their respective local markets.