According to a research 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 Market Study Report, global distributed energy market was worth USD 270.5 billion in 2020, and is projected to grow at 11.5% CAGR over 2021-2027, reaching a valuation of USD 579.55 billion by the end of the forecast period.
 

As per the findings of report, rising awareness towards environment protection, and introduction of government policies for greenhouse gas reduction are spurring worldwide distributed energy market demand.
 

Furthermore, ongoing research & development activities are likely to create new opportunities for businesses operating in this domain. For instance, in 2020, the Korean government had announced an initiative to invest USD 9 billion in renewable energy projects for the next three years.
 

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For those unversed, distributed energies are generated from either non-renewable or renewable resources and have the ability to function as a substitute as well as a supplement to conventional electric grid systems.         
 

On the other hand, strict emission control regulations, coupled with unstandardized laws for distributed energies are expected to hamper market development in the upcoming years.
 

Based on technology type, global distributed energy market is arrayed into solar PV, and fuel cells. By application ambit, the business vertical comprises residential, industrial, and commercial sectors. Among these, industrial and commercial applications are expected to grow significantly during the forecast period, owing to increasing use of solar cells.
 

Elaborating on geographical bifurcation, the research literature for global distributed energy market spans across Asia Pacific, Europe, North America, and Latin America. Among these, Asia Pacific currently accounts for a significant share in the market. This can be attributed to soaring demand for energy, brought on by rapid urbanization as well as booming population.
 

Meanwhile, North America distributed energy industry is projected to garner substantial returns over the forecast period, owing to accelerated adoption of solar PV cells in the region.
 

Considering the competitive landscape, companies like Capstone Green Energy Corp., Schneider Electric SE, Siemens AG, General Electric Company, Suzlon Energy Ltd., Doosan Heavy Industries & Construction Co. Ltd., Ballard Power Systems Inc., Rolls-Royce Holdings plc,  Caterpillar Inc., and Vestas Wind Systems A/S are influencing global distributed energy market development.