Top Players in Distributed Generation Market are Schneider Electric, Siemens Energy, GE, ABB, SMA Solar Technology AG, Bloom Energy, Mitsubishi Heavy Industries, Capstone, Caterpillar Inc, Ansaldo Energia, FuelCell Energy, Cummins, Ameresco, and MP2 Energy LLC
The “report“offers a comprehensive analysis of the distributed generation market. It gives fundamental importance to the growth drivers and restraints of the market. The information presented in the report is extracted from both primary and secondary research methods. Some significant players are also listed in the market, apart from major industrial developments that will help market vendors adopt strategies accordingly and thus, make their mark in the competition globally.
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The global distributed generation market is prognosticated to rise remarkably on account of various initiatives adopted by market players such as company collaborations, mergers and acquisitions, international supply chains, and others. Fortune Business Insights in their report titled, “Distributed Generation Market Size, Share and Global Trend By Technology (Solar PV, Wind, Reciprocating Engines, Microturbine, Gas Turbines, fuel Cells, Others), By Application (On-Grid, Off-Grid), By End-User (Industrial, Commercial, Residential), and Geography Forecast till 2026,” the market will grow remarkably due to its current industry developments.
Key Market Driver Demand Shift towards clean energy
Key Market Restraint High cost of installation and maintenance
As per Fortune Business Insights, the reports list various distributed generation market companies. These include:
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Cost-efficiency of Distributed Generation Interconnection to Help Commercial and Residential Sectors Emerge Dominant
As per the report, the distributed generation market is categorized into four major categories namely, technology, application, end-user, and geography. With respect to technology, the market is segmented into fuel cells, gas turbines, microturbine, reciprocating engines, solar, wind, and others. Based on the application, the market is bifurcated into off-grid and on-grid.
On the basis of end-user, the market is classified into residential, commercial, and industrial sectors. Among these, the commercial and residential sectors are likely to dominate the market between 2019 to 2026. This is attributable to the surge in the number of rooftop distributed generation solar panel installations that are both cost-efficient and sufficient to serve their purpose in both commercial and residential buildings. Further sub-segmentation of the industrial segment includes the manufacturing and process industry, mining, power generation, and oil and gas sectors.
Adoption of Solar and Wind Energy Power Generators to Boost Market
The most crucial factor boosting the distributed generation market is the rise in demand for energy on a worldwide basis. This is boosting the demand for renewable sources of energy since they are cost-effective and have less carbon footprint. Besides this, the governments of various nations are also promoting the growth of the market by providing tax rebates and incentives for installing renewable sources of energy in various commercial and residential sectors. Furthermore, the gradual shift towards distributed generation from centralized energy generation will also help the market attract high revenue in the forecast period.
However, factors such as system imbalance, and grid dysfunctionality may pose a challenge to the growth of the market for distributed generation. This, coupled with the variable nature of sources such as wind and solar energy and their unpredictability may also cause hindrance to the growth of the market in the long run.
Nevertheless, the application of distributed generation in hybrid energy systems is expected to create lucrative growth opportunities for the market in the long run.
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Key Industry Developments
Segmentation
1. By Technology
2. By Application
3. By End-User
4. By Geography
For more information in the analysis of Distributed Generation Marketreporthttps://www.fortunebusinessinsights.com/industry-reports/distributed-generation-market-101088
Gradual Switch from Conventional to Renewable Sources of Energy to Help Asia Pacific Market Register Rapid Rate
From a geographical perspective, the market is categorized into five major regions namely, Europe, North America, Asia Pacific, Latin America, and the Middle East and Africa. In order to reduce the emission of carbon to the atmosphere, there has been a gradual shift towards the adoption of renewable distributed generation resources worldwide. Among all regions, the market in the Asia Pacific is expected to hold huge potential for the market on account of the increasing demand for energy and the rise in the adoption of renewable energy sources. China is the largest producer of biogas and solar energy, followed by Japan and India. The surge in population and government-supported initiatives to switch to renewable energy sources from conventional energy sources is anticipated to promote the growth of the market in the region.
On the other side, the market in Europe is expected to witness promising growth in the coming years on account of the fact that their residents are still switching towards renewable sources. The adoption rate of distributed generation technologies in Europe is quite high as compared to the other regions. Besides this, the market in the Middle East and Africa and Latin America is anticipated to witness growth on account of the gradual switch to solar and wind sources from conventional sources of energy.
Major Table of Content ForDistributed GenerationMarket:
An Overview of the Impact of COVID-19 on this Market:
The emergence of COVID-19 has brought the world to a standstill. We understand that this health crisis has brought an unprecedented impact on businesses across industries. However, this too shall pass. Rising support from governments and several companies can help in the fight against this highly contagious disease. There are some industries that are struggling and some are thriving. Overall, almost every sector is anticipated to be impacted by the pandemic.
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