Distributed Generation Market Estimated To Witness a Phenomenal Growth by 2025
Distributed generation is power generation on-site at the point of consumption. Distributed generation benefits the large loads with the reserved additional capacity, provides the sufficient power for the entire loads and sufficient redundancy for the maintenance. In addition to this, the distributed energy generation offers better performance, increased reliability, and improved power quality which could positively influence the distributed generation market.
Increasing electricity consumption is the major factor driving the distributed generation market.
Increasing electricity consumption is a major driver for the growth of distributed generation market. For instance, according to the Electronic Industries Alliance (EIA) organization, the total world energy consumption rises from 575 quadrillion British thermal units (Btu) in 2015 to 736 quadrillion Btu in 2040, an increase of 28%. In addition to this, energy producers are increasingly inclined towards setting up energy production units close to the consumer base, in order to ensure uninterrupted power supply, minimal power wastage due to smaller power distribution and transmission lines, and in turn lowering requirement for extensive distribution lines and lowering costs associated with the same. This in turn has led to increase in growth of the distributed generation market.
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The solar PV segment is expected to hold the largest and fastest growing segment in the market.
The solar PV segment held the largest distributed generation market share in 2016 and is projected to retain its dominance throughout the forecast period. Due to the decreasing cost of the solar photo voltaic cells, an increase in the number of installations of the solar PVs has been observed globally. For instance, according to the Solar Energy Industries Association (SEIA), the U.S. installed 2,031 megawatts (MW) of solar PV in 2017 to reach 49.3 gigawatts (GW) of total installed capacity, enough to power 9.5 million American homes. Therefore, the distributed solar photovoltaic systems supply the electricity during the grid outages causing from the extreme weather or any emergencies. In addition to this, the distribution of large scale solar PV hybrid plants in several developing countries such as Kenya, Bangladesh, and Indonesia will propel the growth of distributed generation market in this segment.
Distributed Generation Market: Regional Insights
On basis of geography the distributed generation market is segmented into North America, Asia Pacific, Europe, South America, Middle East and Africa. By terms of geographical regions, Asia Pacific is estimated to be the major revenue contributor due to the lack of a reliable grid infrastructure especially the South East Asian countries, where the population is spread across several islands, will drive the demand for off-grid power systems in the near future. According to the Global Environment Facility (GEF), the total population of Southeast Asian countries, Indonesia, Cambodia, Vie, Philippines and Thailand is around 507 million, of which nearly 111 million around of 22% of the population do not have access to grid electricity, the total population of the Pacific countries which include 14 island countries is around 8.6 million, of which nearly 6 million of the population do not have access to grid electricity. This creates a highly conducive environment for growth of the distributed generation market.
Distributed Generation Market: Competitive Background
Some of the leading players in the distributed generation market are Siemens AG, General Electric (U.S.), Schneider Electric SE, Mitsubishi Motors Corporation, and Capstone, Activ Solar GmbH, Ballard Power Systems Inc., Fortis Wind Energy, GE Power & Water, Juwi Inc., Sharp Corporation, Cummins Inc. (U.S.), Caterpillar Inc. (U.S.).
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