(MENAFNEditorial)
The global market for Distributed Energy Generation (DEG) is expected to reach USD 179.65 billion by 2020 according to a new study by Grand View Research Inc. DEG operates in off-grid or on-grid system by collecting energy from various small sources and distributes it to various end use industries. Increase in consumer awareness with regards benefits offered by DEG in terms of air pollution climate changes and green house emission are expected to drive demand over the forecast period. In addition low energy generation cost and economies of scale of DEG plants are expected to further augment the growth of the market.
Grid connected DEG was the largest application segment with a capacity of 101.07 GW in 2013 and expected to dominate the market on account of its direct connection to utility and low cost compared to off-grid DEG. However due to high storage capability and continuous flow of energy off-grid DEG plants are used in certain minor applications.
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Further key findings from the study suggest:
The global installed capacity for DEG was 102.97 GW in 2013 and is expected to reach 227.63 GW by 2020 growing at a CAGR of 12.0% from 2014 to 2020.
CHP was the most dominant technology in the DEG market with installed capacity of 44.50 GW in 2013. However solar PV was the largest segment of the market in terms of revenue due to the high cost and large installed base. The solar PV revenue in DEG was USD 55.90 billion in 2013 and is expected to grow at a CAGR of 6.4% from 2014 to 2020.
Commercial and industrial installations of DEG were the largest end-use segment accounting for 76.55 GW of global installed capacity in 2013. However building and residential applications of DEG is expected to be the fastest growing segment of the market at an estimated CAGR of 13.5% from 2014 to 2020.
Europe has the largest installed capacity for DEG exceeding 41.00 GW in 2013; owing to stringent regulatory scenario resulting in high preference towards DEG. Asia Pacific is expected to be the fastest growing regional market at an estimated CAGR of 12.7% from 2014 to 2020 owing to increasing energy demand from India and China.
The key companies in the market include First Solar Inc. General Electric Energy LLC FuelCell Energy Inc. Ballard Power Systems Inc. JA Solar Holdings Co. Ltd. Sharp Corp. Ingersoll-Rand plc Suntech Power Holdings Co. Ltd. Siemens AG Yingli Green Energy Holding Co. Ltd. and UTC Power LLC.
For the purpose of this study Grand View Research has segmented the global Distributed Energy Generation (DEG) market on the basis of Technology End-use Application and Region:
About Grand View Research
Grand View Research Inc. is a U.S. based market research and consulting company registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports customized research reports and consulting services. To help clients make informed business decisions the company offers market intelligence studies ensuring relevant and fact-based research across a range of industries including technology chemicals materials healthcare and energy.
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