Global Distributed Energy Generation Market Report and Forecast 2024-2032

Global Distributed Energy Generation Market Outlook

The global distributed energy generation market attained a value of nearly USD 107.64 billion in 2023. The market is projected to grow at a CAGR of 5.50% between 2024 and 2032 to reach a value of around USD 173.94 billion by 2032.

Key Trends in the Market

Distributed energy generation refers to a process of fixing and facilitating the operation of small-scale power generating units. It is generally connected at substations on distribution feeders or at the load level of end users.

• The global increase in demand for energy, owing to the robust economic growth of developing nations and rapid industrialisation and urbanisation, is fuelling the distributed energy generation market growth.

• Favourable initiatives of multiple governments aimed at encouraging the use of renewable and cost-effective sources of energy generation are bolstering the installation of distributed energy generation units across various end-use sectors, including commercial and residential.

• The increasing application of solar photovoltaic panels and small wind turbines across the residential sector is a key market driver. Over the forecast period, the anticipated increase in population, the rising trend of self-sufficient homes, and surging standards of living are expected to aid the distributed energy generation market.

Market Analysis

Based on technology, the market is segmented into wind turbine, solar photovoltaic, reciprocating engines, fuel cells, and gas and steam turbine. On the basis of application, the market is classified into residential, commercial, and industrial. The major regional markets for distributed energy generation include North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.

The comprehensive EMR report provides an in-depth assessment of the market based on the Porter's five forces model along with giving a SWOT analysis. The report gives a detailed analysis of the key players in the global distributed energy generation market report, covering their competitive landscape and latest developments like mergers, acquisitions, investments and expansion plans.

• Siemens AG

• Vestas Wind Systems A/S

• Caterpillar, Inc

• Capstone Green Energy Corporation

• Doosan Enerbility Co., Ltd

• Rolls-Royce Plc

• The General Electric Company

• Mitsubishi Heavy Industries, Ltd

• Schneider Electric SE

• First Solar, Inc

• Others

Market Share by Technology

Fuel cells account for a significant share of the distributed energy generation market. Fuel cell-based distributed energy generation system offers superior technical advantages such as modularity, excellent partial load characteristics, dynamic response, and high levels of heat generation, which make them ideal for industrial heating and cooling applications.

Moreover, fuel cell technology is also considered a source of clean and efficient power, which is another key driving factor of this segment.

Market Share by Application

The industrial sector holds a considerable share of the distributed energy generation market. The low cost of installation, along with its rising accessibility, is surging the demand for distributed energy generation units across various industries.

Additionally, the increasing adoption of renewable methods of energy generation, across the industrial sector to boost profitability and enhance sustainability is expected to aid the segment’s growth in the forecast period.

Competitive Landscape

Siemens AG is a multinational automation company which is known to be an early developer of products and solutions for using renewable energy sources. It was founded in 1847 and is headquartered in Munich, Germany.

Vestas Wind Systems A/S is a leading manufacturer, seller, and servicer of wind turbines. The company also offers services to onshore and offshore power converters. It was established in 1945 and is headquartered in Aarhus, Denmark.

Caterpillar, Inc is one of the world's largest manufacturers of construction and mining equipment, which also provides sustainable power generation solutions. It was founded in 1925 and is headquartered in Texas, the United States.

Other market players include Capstone Green Energy Corporation, Doosan Enerbility Co., Ltd, Rolls-Royce Plc, The General Electric Company, Mitsubishi Heavy Industries, Ltd, Schneider Electric SE, and First Solar, Inc, among others.

Key Highlights of the Report