Global Distributed Power Generation Market demand and growth to increase by 2023

Sarasota, FL -- (SBWire) -- 08/01/2018 --Zion Market Research has published a new report titled "Distributed Power Generation Market (By Type: On Grid and Off Grid; By Sources: Fuel Cell, Micro Turbines, Solar PV, Combined Heat & Power, Wind Turbines and Reciprocating Engine; and By End Use: Commercial, Residential, and Industrial) Market: Global Industrial Perspective, Comprehensive Analysis, and Forecast, 2017 – 2023". According to the report, the global distributed power generation market was valued at USD 57.36 billion in 2017 and is expected to reach USD 103.28 billion by 2023, growing at a CAGR of 10.3% between 2018 and 2023.

Distributed power generation is an approach that employs small-scale technologies to produce electricity close to the end users of power. Distributed power generation technologies often consist of modular generators, and they offer a number of potential benefits. Distributed power generation is defined as installation and operation of the small modular power-generating technologies that can be combined with energy management and storage systems. It is used to improve the operations of the electricity delivery systems at or near the end user. These systems may or may not be connected to the electric grid.

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Major driving factors for the growth of the distributed power generation market are growth in decentralized energy production. The global distributed power generation market offers new growth opportunities, due to federal and state regulatory support of "green" energy, and rapid technological developments of distributed generation in the utility system. High maintenance and operating cost may hamper the growth of distributed power generation market. Rising interest regarding expenditure obtain during installation of transmission lines for power generation of large-scale power plants is expected to enhance industry growth.

Distributed power generation market is segmented on the basis of type, sources and end use. On the basis of type, the global distributed power generation market is segmented into on grid and off-grid. On-grid was the largest type segment of global distributed power generation market in 2017. Low installation cost along with easy entrance to utility areas is estimated to support the importance of on-grid systems. Grid-connected installations are mainly used as a durable investment to supply energy for local loads and for the replace of power with utility grids. These are utilized for power generation by a variety of end-users including industries and manufacturing applications.

On the basis of sources, the market is segmented into the fuel cell, microturbines, solar PV, combined heat & power, wind turbines and reciprocating engine. Among these sources, solar PV was the leading segment of the global distributed power generation market. In 2017, solar PV accounted for 21.0% of the overall market volume and is expected to register a CAGR of 16.8% during the forecast period. Due to the declining costs of solar photovoltaic cells, witnessed a significant increase in the installation of solar PVs in recent year. Developing countries such as Kenya, Peru, Bangladesh and Indonesia will fuel the growth of the distributed electricity generation market due to the operation of large-scale solar PV hybrid plants as off grid power system. Almost 40% of the total operating costs diesel accounts for telecom operators will initiate adopting distributed energy systems such as microturbines and solar hybrid power systems.

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On the basis of end use, the market is segmented into commercial, residential, and industrial. In 2017, the industrial segment was the most attractive end use of the global distributed power generation market. It accounted for above 70% share of the total revenue of the market in 2017. Recyclable from available sources such as heat energy and industrial waste is expected to result in high industry penetration for distributed power generation in commercial and industrial end-use during the forecast year. Price competence is estimated to be an added advantage to residential demand in the sector during the forecast period.

The Asia Pacific dominated the market for distributed power generation in 2017 and accounted the significant share of the market. Infrastructure development in India and China on account of approving regulatory policies is expected to enlarge demand in the near future. In the U.S, rising production of shale gas and tight oil coupled with increasing performance of hydraulic fracturing is expected to open new distributed energy generation market avenues over the forecast period. The requirement of a reliable grid infrastructure mainly the South East Asian countries, where the population extends across several islands, will constrain the demand for off-grid power systems during the forecast period. In 2007, the European commission framed horizon 2020 strategy, aiming to reduce greenhouse emissions and develop sustainable methods.

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Some of the major players involved in the global distributed power generation market include Ansaldo Energia, Ballard Power Systems, Bloom Energy, Capstone Turbine, Ingersoll-Rand plc, General Electric Energy LLC, Sharp Corporation, JA Solar Holdings Co. Ltd., Suntech Power Holdings Co. Ltd., Siemens AG, UTC Power LLC, and Yingli Green Energy.

Distributed Power Generation Market: Regional Analysis

North America
The U.S.
Europe
UK
France
Germany
Asia Pacific
China
Japan
India
Latin America
Brazil
The Middle East and Africa

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