The value of the global distributed generation market is projected to reach a market size of USD 103.38 Billion growing at a CAGR of 11.48% from 2017 to 2022. This market growth is primarily driven by the rising demand for electricity from industrial and commercial end-use industries. The frequent power blackouts due to increasing load on the electrical grid have resulted in the rise of distributed power generation. Increased focus on the reduction of greenhouse gas emissions and decreasing costs of solar technology are expected to boost the distributed generation market.
Europe would continue to be the largest market for distributed generation followed by Asia Pacific till 2022. The global market is dominated by a few players including Siemens (Germany), GE (US), Schneider (France), and Mitsubishi (Japan).
The market growth strategies adopted by key players in the distributed generation market include contracts & agreements and partnerships and collaborations. Contracts & agreements was the most commonly adopted strategy by market players from 2014 to June 2017. Industry players also adopted new product launches in the stated period from 2014 to 2017 (September).
Siemens (Germany) is a leading provider of clean and green power generation equipment worldwide. The company offers solutions for optimizing energy production and integrating renewables along with, conventional generation and storage. It provides reciprocating engines, small gas and steam turbines, as well as hybrid solutions for decentralized power generation. The company also offers renewable energy technologies for power generation which includes wind power, hydropower, biomass power, and solar power. The company adopted new product launches as one of its key growth strategies to maintain its market position. In May 2017, the company launched the new gas engine E-series for distributed power generation in the low-MW range to provide a high level of performance for both prime power generation and cogeneration applications.
GE (US) is a global digital industrial company that provides the industry with connected machines and delivers intelligent solutions. The company provides distributed generation through its power segment. It provides the Jenbacher gas engines and Waukesha gas engines series for distributed power generation. The solutions provided by the company are used for industrial power generation, cogeneration/CHP, and oilfield power generation by various end-users. The company adopted contracts & agreements as its key strategy. In April 2015, the company authorized HOERBIGER (Canada) as a distributor for GE’s Waukesha Gas Engines and genuine parts in Canada to strengthen the sales and service coverage for end-users across the country.
Distributed Generation Market by Technology (Solar PV, Wind, Reciprocating Engines, Microturbines, Fuel Cells, Gas Turbines), Application (On-Grid, Off-Grid), End-User (Industrial, Commercial, Residential), and Region - Global Forecast to 2022
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