SAN FRANCISCO, August 27, 2015 /PRNewswire/ --
The global distributed energy generation (DEG) market is expected to reach USD 179.65 billion by 2020, according to a new report by Grand View Research, Inc. High cost involved during installation of transmission lines coupled with loss of electricity over long lines is expected to increase the importance of DEG in the near future.
Rising concerns regarding green house emissions and growing focus in U.S., Germany, China and India to generate power from unconventional sources such as solar, wind and hydroelectricity is expected to have a positive impact on industry over the forecast period. Rising R&D expenditure on the development of fuel cells and microturbines for power generation is expected to have a positive impact on market over the forecast period.
Browse full research report with TOC on "Distributed Energy Generation (DEG) Market Analysis (On Grid, Off Grid) By Technology (CHP, Solar PV, Wind Turbine, Fuel Cells), By End Use (Residential, Buildings & Institutions, Commercial & Industrial) And Segment Forecasts To 2020" at: http://www.grandviewresearch.com/industry-analysis/distributed-energy-generation-industry
Off-grid DEG is expected to witness significant gains over the forecast period and is expected to reach a value exceeding USD 6.5 billion by 2020. Expansion of cities coupled with rising government initiatives to provide electricity to rural areas, particularly in economies of Asia Pacific, is expected to result in above average growth for these generators.
Global DEG capacity 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. Growing price competency of DEGs as compared to conventional forms of generators is expected to result in their high demand over the forecast period.
Wind turbines accounted for over 30% of the DEG market in 2013. Low costs in terms of installation and maintenance coupled with negligible pollution is expected to result in accelerating market growth.
Residential accounted for less than 10% of the overall DEG market in 2013. However, it is expected to witness above average growth on account of growing adoption in the sector. In addition, price competence is expected to be an added advantage resulting in propelling demand in the sector over the forecast period.
North America DEG market was valued at USD 27,564.3 million in 2013. Regulatory inclination to incorporate green energy for power generation is expected to augment the importance of sources such as solar, wind and tide is expected to fuel DEG demand in the near future.
Key market players include General Electric Energy LLC, First Solar Inc., Ingersoll-Rand plc, JA Solar Holdings Co. Ltd., FuelCell Energy Inc., Sharp Corp and Siemens AG.
Browse related reports by Grand View Research:
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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, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.
SOURCE Grand View Research, Inc.