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Distributed Energy Generation Systems Market Global Industry Analysis And Forecast to 2023
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Europe leads the distributed energy generation system market due to financial support by the local governments in the region and investments by the distributed energy generation manufacturers. The 2004/8/EC directive active from 2004 has been providing favorable business environment to the distributed energy generation system manufacturers. The financial incentive schemes by governments and availability of cheap labor in Asia-Pacific are alluring the companies to increase their investments in the region. Asia-Pacific distributed energy generation system market is expected to grow at an exponential rate in the coming years due to increasing investments by the manufacturers in the region.
On the basis of technology, the distributed energy generation system market can be categorized as micro turbine, combined heat and power (CHP), solar photovoltaic, wind turbine, fuel cell and reciprocating engines. Micro turbine market is expected to grow with an exponential rate in the coming years due to its properties such as lightweight, small number of moving parts, low operational cost, low emission and compact size. Combined heat and power (CHP) market is expected to lead the distributed energy generation system market among the technology category due to its environment- friendly characteristic.
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Some of the factors driving the growth of the distributed energy generation system market are retooled feed in tariff (fit) and government initiatives towards distributed energy generation. Climate dependent systems and high initial cost of the systems are some of the factors restraining the growth of the distributed energy generation system market. However; the prices of distributed energy generation system is expected to decline in the coming years, which in turn can offset the other restraints prevailing in this market.
The major competitors in the distributed energy generation system market include Cargo & Kraft Turbin Sverige AB, Ballard Power Systems Inc., Gilbert Gilkes & Gordon Ltd., Siemens AG, Mitsubishi Power Systems Americas Inc., Fuel Cell Energy, Inc., Calnetix Technologies, LLC, Toyota Turbine and Systems Inc., Caterpillar Power Generation Systems, LLC, Capstone Turbine Corporation, GUGLER Water Turbines GmbH, GE Energy Management, Inc., Rolls-Royce plc, Canyon Industries, Inc., and OPRA Turbines BV. Manufacturers of distributed energy generation system are getting support by the research and developments in the field of distributed energy generation system.
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