With the increasing installation of smart grids and the rising number of electricity generation resources, the power generation industry has been undergoing a significant change over the recent past. The modification in the grid structure, which permits decentralization of electricity generation, is acting as the main driving force behind the substantial growth of the global market for decentralized electricity generation.
The main objective of this research report is to provide a deep insight into the worldwide market for decentralized electricity generation on the basis of its historical performance and present status. The prime growth drivers, limitations, prominent trends, opportunities, challenges, and future potential of this market have also been examined thoroughly in this market study.
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Global Decentralized Electricity Generation Market: Trends and Opportunities
The ever-augmenting need for electricity, which encourages electricity producing companies to raise their output in order to meet the consumer demand, is the prime factor behind the continual rise in the demand for decentralized electricity generation, as it offers the benefit of not being reliant on a single power station to fulfil the needs of a whole region. The ongoing expansion in several power intensive industries is also projected to reflect positively on the global demand for decentralized electricity generation over the next few years.
Global Decentralized Electricity Generation Market: Geographical Analysis
In terms of geography, the global market for decentralized electricity generation is primarily categorized into Europe, Asia Pacific, North America, and the Rest of the World that includes Latin America and the Middle East and Africa. Among these, Europe has emerged as the most active region in terms of the generation of decentralized electricity. Led by Austria, Germany, Switzerland, and France, this regional market is likely to remain on top over the next few years.
North America and Asia Pacific will also surface as key revenue contributors to this market in the forthcoming years. The dearth of a consistent grid infrastructure, specifically in the South East Asia, is anticipated to fuel the demand for off-grid power systems in Asia Pacific over the years to come. Malaysia, China, Australia, India, and Singapore are projected to dominate the Asia Pacific decentralized electricity generation market while the U.S., with the maximum numbers of power generation units, is likely to lead the North America market for decentralized electricity generation.
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Brazil, Paraguay, Argentina, and the Middle Eastern countries are expected to drive the market for decentralized electricity generation in the Rest of the World.
Companies Mentioned in the Research Report
Characterized by the presence of a large pool of market participants, the global market for decentralized electricity generation exhibits a fragmented structure. As the market is highly competitive, the leading players, namely, Ballard Power Systems, Ansaldo Energia, Capstone Turbine, Bloom Energy, and First Solar, are aggressively focusing on increasing research activates to develop novel products in order to sustain in this environment.