Market Size – USD 232.60 billion in 2019, Market Growth – CAGR of 11.1%, Market Trends –Growing environmental awareness
The global Distributed Energy Generation Market is expected to reach USD 536.56 Billion by 2027, according to a new report by Emergen Research. The growth of this market can be attributed due to the growing environmental awareness among consumers and supportive government policies regarding the increase of DEG installations by industrial & commercial applications or by residential. Increasing research and development for the technological advancement of the products is augmenting the demand for the industry.
The pandemic has disrupted the supply chain and raw material supplies. As people are facing a financial crisis, they are curbing their expenses, which can adversely affect the industry. Additionally, many companies are withdrawing their investments, and the government of several countries is cutting down the incentives provided by them earlier, which are hampering the growth of the market.
The leading manufactures in the market include Ballard Power Systems Inc., Siemens AG, Caterpillar Inc., General Electric, Sharp Corporation, Suzlon Energy Ltd., Doosan Heavy Industries & Corporation, Capstone Turbine Corporation, Rolls-Royce plc. and Vestas Wind Systems A/S, among others.
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Regional Scope: North America; Europe; Asia Pacific; Central & South America; MEA
Technology Outlook (Revenue, USD Billion; 2017-2027)
Solar PV
Wind Turbine
Fuel Cells
Diesel Gensets
Natural Gas Gensets
Gas & Steam Turbine
Others
Application Outlook (Revenue, USD Billion; 2017-2027)
Industrial & Commercial
Residential
Others
North America accounted for the largest market share of approximately, 37.2% in the global Distributed Energy Generation market in 2019 primarily due to growing incidences of chronic asthma and rhinosinusitis symptoms along with competent infrastructure and favorable reimbursement scenarios. Owing to such promising market drivers, the North American market is anticipated to grow significantly through the forecast period.
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