The global distributed energy generation market is expected to exhibit strong growth, reaching USD 482.9 billion by 2028. As per the report titled "Distributed Energy Generation Market Size, Share & COVID-19 Impact Analysis, By By Technology (Micro-turbines, Combustion Turbines, Micro-hydropower, Reciprocating Engines, Fuel Cells, Wind Turbines, Solar PV and Others), By End User Industry (Residential, Commercial and Industrial) and Regional Forecasts, 2022-2028" observes that the market size in 2021 stood at USD 251.3 billion and USD 482.9 billion in 2028. The market is expected to exhibit a CAGR of 11.50% during the forecast period.
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Rolls-Royce Announced to Serve as a Corporate Brand
In July 2021, Rolls-Royce stated that it would serve as the company's and the industry's employer brand and added that the MTU brand would be strengthened as the only one representing products and solutions. For distributed power supply systems, the "MTU Onsite Energy" trademark will gradually disappear and be incorporated into the MTU brand.
Increase in the Amount of Off-Grid Locations Fueling the Market
In off-grid locations, grid-connected electricity is either rare or nonexistent. In these places, backup energy sources like solar energy are utilized. Nearly every continent has sizable off-grid areas that lack access to grid-connected energy. As a result, the proliferation of off-grid communities worldwide is opening up the attractive potential for expanding the distributed energy generation market.
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Market is Being Restricted by Land Use
Utility-scale solar power-producing plants need a lot of areas to be effective. Various factors, including the availability of solar radiation, may restrict the choice of land for solar power generation. Solar power systems implemented on a large scale may have an impact on natural areas and biodiversity due to the quantity of land they take up. Land use is therefore preventing the market for distributed energy generation from expanding throughout the anticipated term.
Major Players Develop Acquisition Plans to Boost Brand Image
The leading businesses in the distributed energy generation market plan acquisitions to improve their brand recognition globally. For instance, in June 2019, the 10MW distributed energy security project for the Marine Corps Recruit Depot Parris Island was finished, according to Ameresco.
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List of Key Players Profiled in the Report
Vestas, CATERPILLARCapstone Green Energy CorporationDoosan Heavy Industries & ConstructionToyota Tsusho CorporationRolls-Royce plcGeneral ElectricMitsubishi Electric CorporationSchneider ElectricSiemensAbout Us:
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