Energia
Distributed Energy Generation Market to Reach $919.6 Bn, Globally, by 2030 at 14.2% CAGR: Allied Market Research
Increase in government policies & greenhouse gas (GHG) emission reduction targets and rise in R&D initiatives for the development of new technologies drive the growth of the global distributed energy generation market. Furthermore, the need for a clean source of energy along with the low cost of products present new opportunities in the coming years.
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Based on technology, the fuel cells segment held the highest market share in 2020, accounting for more than one-third of the global distributed energy generation market, and is estimated to maintain its leadership status throughout the forecast period. This is due to high incorporation in the various manufacturing industries. However, the solar PV segment is projected to manifest the highest CAGR of 18.1% from 2021 to 2030, owing to demand for uninterrupted and sustainable electricity source.
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Based on end use industry, the commercial segment accounted for the largest share in 2020, contributing to one-third of the global distributed energy generation market, and is projected to maintain its lead position during the forecast period. Moreover, this segment is expected to of 15.7% from 2021 to 2030, as the demand for low cost sustainable energy is expected to grow considerably in the coming years.
Based on region, Asia-Pacific , followed by Europe and North America , held the highest market share in terms of revenue 2020, accounting for more than one-third of the global distributed energy generation market. Moreover, this region is expected to witness the fastest CAGR of 15.5% during the forecast period, owing to the growing industrialization in China , India , and other Asia-Pacific countries.
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