Distributed Generation Market worth $103.38 Billion by 2022
The distributed generation market is expected to grow from an estimated USD 60.04 Billion in 2017 to USD 103.38 Billion by 2022, at a CAGR of 11.48%. The market is set to witness growth, due to increasing mandates to reduce global greenhouse gas emissions and rising demand for electricity from the industrial, commercial, and residential sectors.
The on-grid segment is expected to hold the largest share of the distributed generation market, by application, during the forecast period
On-grid systems are cost-effective and convenient to install. The global market for distributed generation facilities that employ grid-tied arrangements has been the highest. Driven by the capability to provide perfect solutions for various end-users and contribution to reduce harmful emissions from fossil fuel power plants, the segment is expected to grow at a decent pace during the forecast period.
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Europe: Expected to be the leading market for distributed generation during the forecast period
In this report, the distributed generation market has been analyzed with respect to five regions, namely, North America, Europe, Asia Pacific, South America, and the Middle East and Africa. The European market is expected to lead the distributed generation market, by region. The increasing demand for electrical energy due to urbanization and industrialization, as well as rising government mandates to achieve sustainable goals, is likely to drive the market during the forecast period in the region.
Some of the top players in the distributed generation market include Siemens (Germany), GE (US), Schneider (France), Mitsubishi (Japan), Capstone (US), and Doosan (South Korea).
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