Market Research Future published a research report on “Global Distributed Generation Market Research Report – Forecast to 2023” – Market Analysis, Scope, Stake, Progress, Trends and Forecast Report to 2023.
As per the newest report published by Market Research Future (MRFR), the global distributed generation market is slated to obtain a substantial market valuation at a moderate 10.21% CAGR over the review period.
Drivers and Restraints
The global distributed generation market is projected to rise at a high rate during the forecast period, mainly owing to the rising demand for clean energy generation and renewable sources of energy. Governments around the world have established attractive incentives, rewarding the use of renewable sources of energy, which further fuel the growth of the global Distributed Generation Market, globally. Solar panels have become cost-effective and are significant driving factors for the growth of the global distributed generation market. Additionally, government bodies around the globe are developing policies to encourage the usage of renewable sources of energy due to their benefits, such as reduced emissions and energy security. Numerous offshore wind farms that are being developed, majorly contribute to the growth of the global distributed generation market. The report projects that there will be substantial growth of the global distributed generation market mostly because of the developed economies.
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The leading market players identified by MRFR in the global market are General Electric Company (US), Ansaldo ENergia (Italy), Bloom Energy (US), Schneider Electric SE (France), Caterpillar Inc. (US), Siemens AG (Germany), Mitsubishi Heavy Industries,Ltd (Japan), Fuel Cell Energy Inc (US), Cummins Inc (US), and Bergey Windpower (US).
The global market for distributed regeneration has a highly competitive scenario. The leading market players are expected to contribute significantly towards the automotive leaf spring market growth over the review period. The market is also expected to witness the rise of numerous entrants in the foreseeable future. Increasing research and development projects towards advanced technology integration along with strategic business tactics such as product development, mergers, partnerships, acquisitions, and joint ventures, to sustain the competitive dynamics.
Impact Of COVID-19 on Distributed Generation Market @ https://www.marketresearchfuture.com/report/covid-19-impact-distributed-generation-market
The global market for a distributed generation has been segmented based on technology, application, end-use, and region. Based on technology, the distributed generation market is classified into solar, geothermal, wind, fuel cells, biogas, and others. The solar segment is leading the market and has the largest market share, mainly due to the lesser cost involved in setting up the system for both commercial and residential use. Based on the application, the market is segmented as off-grid and on-grid. The on-grid segment leads the market in this sector as on-grid systems are very cost-effective and simple systems. The distributed generation market is further segmented based on end-use, into industrial, residential, and commercial segments. The commercial segment of the global distributed generation
The geographical analysis of the global market has been conducted in four major regions, namely Europe, North America, the Asia Pacific, and the rest of the world (including Latin America and the Middle East and Africa).
North America is the second-largest market, with a distributed generation system amounting to about a sixth of the total energy used in the US. This is attributed to the early adoption of advanced technologies. The presence of substantial market players in a higher concentration in the region, especially in developed economies such as the U.S. and Canada, is also expected to contribute towards distributed generation market growth over the review period. It has been anticipated that the Asia-Pacific region will grow at the highest rate during the forecast period. Europe accounts for significant market share, whereas Asia-Pacific is the fastest-growing region. It is estimated that the Europe region will continue to dominate the market over the forecast period, mainly owing to the rising demand for renewable sources of energy.
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