According to a research report titled ‘Global Distributed Energy Generation Market Size study, by Technology (Wind Turbine, Solar Photovoltaic, Reciprocating Engines, Fuel Cells, Gas & Steam Turbine), by Application (Residential, Commercial & Industrial) and Regional Forecasts 2020-2027’, available with Market Study Report, global distributed energy generation market was valued at USD 243 billion in 2019 and is anticipated to amass USD 581 billion, growing at an annual rate of 11.5% throughout.
 

As per the research findings, inflowing investments in smart grid infrastructure & renewable energy projects, as well as increased government focus towards carbon footprint reduction are the primary factors boosting worldwide distributed energy generation market growth.  imminent legislative requirements for the new electricity market, and proliferating use of cleaner energy sources are also projected to drive industry remuneration.
 

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For those uninitiated, distributed energy generation (DEG) is a decentralized system that produces electricity for businesses, homes, and industrial areas. DEG systems perform their function using technology such as wind turbines, gas & steam, reciprocating engines, solar photovoltaic and fuel cells.
 

These energy generation systems are generally utilized as a substitute or addition to the conventional power systems, and generate electricity on a small-scale.
 

Despite the positive outlook, strict regulatory requirements are one of the major factors impeding global distributed energy generation market expansion over the forecast period of 2020-2027.
 

On the regional front, the market covers key regions such as North America, Asia Pacific, Latin America, and Europe. Asia-Pacific region accounts for majority of the market share and is anticipated to maintain a strong growth curve during the forecast period. This can be ascribed to increasing capacity for renewable energy generation, as well as growing investment & implementation of microgrids and smart grids in the region. Moreover, stringent environment safety and emission control norms coupled with presence of a substantial number of technology vendors across developing countries such as China and India are also anticipated to expand the regional industry remuneration scope.
 

Major contenders in global distributed energy generation market space are Caterpillar Inc., Vestas Wind Systems A/S, Ballard Power Systems Inc., Capstone Turbine Corp., Siemens AG, Schneider Electric SE, Rolls-Royce Holdings plc, General Electric Company, Doosan Heavy Industries & Construction Co., Ltd. and Suzlon Energy Ltd.