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Distributed Generation Global Market Report 2022
Major players in the distributed generation market are Siemens AG, General Electric Company, Schneider Electric SE, Mitsubishi Heavy Industries Ltd. , Caterpillar Energy Solutions GmbH, Capstone Power Solutions, Ansaldo Energia S.
New York, Sept. 30, 2022 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Distributed Generation Global Market Report 2022" - https://www.reportlinker.com/p06323480/?utm_source=GNW
p.A., Cummins Inc., FuelCell Energy Inc., Bloom Energy, Bergey Windpower Co., Doosan Fuel Cell Co. Ltd., Vestas Wind Systems A/S, Rolls-Royce plc, Toyota Tsusho Corporation, Alstom SA, E.ON SE, Ballard Power Systems Inc, Sharp Corporation, Enercon GmbH, and OPRA Turbines.
The global distributed generation market is expected to grow from $74.23 billion in 2021 to $82.99 billion in 2022 at a compound annual growth rate (CAGR) of 11.8%. The distributed generation market is expected to grow to $130.26 billion in 2026 at a compound annual growth rate (CAGR) of 11.9%.
The distributed generation market is consisting of sales of distributed generation products by entities (organizations, sole traders, and partnerships) used to provide electricity during power outages, including those that occur after severe storms and during high energy demand days. Distributed generation refers to a set of activities conducted for the development and sales of small generated energy.
The main technologies involved in distributed generation market are fuel cells, micro-turbines, wind turbines, combustion turbines, micro-hydropower, reciprocating engines, solar PV, and other technologies.A fuel cell is an electrochemical cell that uses the chemical energy of hydrogen or other fuels to cleanly and efficiently produce electricity.
The applications of distributed generation include on-grid and off-grid. The various end-users of distributed generation include commercial, industrial, and residential.
Asia Pacific was the largest region in the distributed generation market in 2021.North America is expected to be the fastest-growing region in the forecast period.
The regions covered in the distributed generation market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The distributed generation market research report is one of a series of new reports that provides distributed generation market statistics, including distributed generation industry global market size, regional shares, competitors with a distributed generation market share, detailed distributed generation market segments, market trends and opportunities, and any further data you may need to thrive in the distributed generation industry. This distributed generation market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.
The increasing electricity consumption is expected to propel the growth of the distributed generation market going forward.Electricity consumption refers to the amount of electrical energy consumed over a specific time, in units of Wh (or kWh).
Distributed generation transmits electricity for the use on-site using a variety of technologies for electricity generation, as a result, increasing electricity consumption increases the demand for distributed generation. For instance, in 2021, according to the U.S. Energy Information Administration (EIA), a US-based principal agency of the federal statistical system, around 3.93 trillion kilowatt-hours (kWh) of electricity was consumed in the United States, which was 13 times greater than the electricity consumed in 1950. Therefore, increasing electricity consumption is expected to boost demand for distributed generation systems during the forecat period.
Technological advancements are the key trend gaining popularity in the distributed generation market.Companies operating in the distributed generation market are developing advanced products to strengthen their position in the market.
For instance, in May 2022, Delta India, a subsidiary of Delta Electronics Inc., a Taiwanese-based company operating in distributed generation has developed a medium-voltage QPR product named 11kV 3-phase Power Quality Restorer to resolve issues related to a plethora of power quality problems such as voltage fluctuations, flickers, equipment failures, and others with the higher efficiency. Additionally, 11Kv3-Phase QPR is capable of providing current harmonic compensation in both leading and lagging reactive power, correcting power load imbalance, regulating voltage, and reducing electric bills in an organization by avoiding power factor penalties and harmonic surcharges.
In July 2020, Rolls-Royce plc, a Germany-based company operating in distributed generation and power management sector, acquired Kinolt S.A for an undisclosed amount. Through this acquisition, Rolls-Royce plc aims to strengthen its portfolio in a distributed generation used for safety-critical operations by using a dynamic uninterruptable power supply system. Kinolt S.A is a Belgium-based company operating in dynamic uninterruptible power supply and distribution generation.
The countries covered in the distributed generation market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, and USA.
Read the full report: https://www.reportlinker.com/p06323480/?utm_source=GNW
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