According to the business intelligence report titled ‘Global Distributed Energy Market Size study, by Technology (Fuel cells and Solar PV), By Applications (Residential, commercial and Industrial) and Regional Forecasts 2021-2027’, available with MarketStudyReport, global distributed energy market amassed USD 270.5 billion in 2020 and is anticipated to be worth USD 579.55 billion by 2027, expanding at 11.5% CAGR between 2021-2027.
 

Favorable government policies to reduce greenhouse gas emissions in tandem with growing environmental awareness are the key growth drivers for global distributed energy market. Citing an example, the Government of South Korea had announced that it is planning to invest USD 10.8 billion towards renewable energy projects till 2023.
 

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For the uninitiated, distributed energies are derived from non-renewable as well as renewable sources and can function as a substitute and a companion to the traditional electric grid system. Increasing focus towards research & development activities will aid in revenue inflow as well.
 

While rising usage of solar cells in industrial & commercial sectors will stimulate industry growth, strict emission reforms coupled with unstandardized laws for distributed energies are likely to act as challenges for businesses in this domain.
 

Based on technology, worldwide distributed energy market is split into solar PV, and fuel cells. Moving on to application scope, the industry is divided into commercial, industrial, and residential.
 

From regional frame of reference, Asia Pacific held majority of global distributed energy market share in the recent past owing to growing demand for energy, rapid urbanization, and rising populace. Meanwhile, North America market is slated to garner massive revenues between 2021-2027, primarily due to increasing usage of solar PV cells by consumers.
 

Leading players shaping worldwide distributed energy market dynamics are Capstone Turbine Corp., Vestas Wind Systems A/S, Caterpillar Inc., Doosan Heavy Industries & Construction Co. Ltd., Ballard Power Systems Inc., Rolls-Royce Holdings plc., General Electric Company, Siemens AG, Suzlon Energy Ltd., and Schneider Electric SE.
 

These companies are undertaking strategic decisions such as mergers & acquisitions, innovative product launches, partnerships, and collaborations to strengthen their foothold in the business sphere and maximize profits.