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Decentralized Power Generation Market Size, COVID-19 Impact Analysis, Regional Outlook, Application Development Potential, Competitive Market Share & Forecast, 2023 – 2032

  • Report ID: GMI5517

Decentralized Power Generation Market size is projected to draw considerable proceeds over 2023-2032, driven by increasing investments in smart grids and the growing number of power generation resources. As per IEA report, investment in smart grids is likely to more than double through 2030 to move ahead in the Net Zero Emissions by 2050, particularly in developing economies.
 

Modifications in the grid structure that permits decentralization of power and electricity generation would further act as a major driving force supporting the significant growth of the market for decentralized power generation.
 

Not to mention, the growing need for power has been prompting the companies to raise their output to meet the consumer demand, thereby transforming the decentralized power generation market landscape. Decentralized power generation offers the benefit of being independent on a single power station to cater to the needs of a whole region. The ongoing expansion in several power intensive industries is also predicted to reflect positively on the demand for decentralized power generation over the next ten years.
 

Besides, a surging trend of renewable energy, such as the solar or wind energy, would as well prompt the demand for decentralized power generation systems. In 2021, solar PV generation rose by whopping 179 TWh in 2021- accounting for 1,000 TWh- making it the 2nd largest absolute generation solutions of all renewable technologies in 2021.
 

The 2022 Russian invasion of Ukraine has affected the decentralized power generation market in both negative and positive ways. This growth is being slightly challenged by increased raw material prices, massive damages to the structures, and disruption in supply chains. However, the attacks have also encouraged leaders to take up fundamental reform and invest in constructions that are less vulnerable to attacks. For instance, in early 2023, the Cabinet of Ministers of Ukraine announced building a decentralized energy system in Ukraine.
 

Based on end-user, one of the most common applications of decentralized power generation are plants in the 50 to 100 megawatts range that serve a single manufacturing plant or industrial unit in a remote location.
 

North America region is estimated to generate profitable gains during 2023-2032 fueled by the rising electricity demand across different remote locations in the American economies. According to the Energy Information Administration, more than 4,000 billion kWh of electricity were generated at utility-scale electricity generation facilities in the U.S.
 

Asia Pacific would also emerge as a revenue pocket across the global decentralized power generation market. The shortage of consistent grid infrastructure in the Asian economies would stimulate the demand for off-grid power systems in the region, supporting the growing industry numbers through 2032.
 

Decentralized power generation market is highly fragmented and boasts the presence of some of the eminent players including Wartsila, Ballard Power Systems, First Solar, Doosan Fuel Cell, Bloom Energy, and Delphi Technologies (BorgWarner), amongst others. These market vendors are focusing on increasing research activities and engaging in organic and inorganic strategies such as partnerships, alliances, acquisitions, and more to sustain in the competitive environment.
 

To cite an instance, Wartsila inked a contract with UTE (Administración Nacional de Centrales Eléctricas y Transmisiones Eléctricas) to carry out major maintenance projects in the power generation field. This new agreement would enable Wartsila assist UTE in the new dispatch profile of the decentralized power generation plant which is equipped with a total of 7 Wartsila 12V46 C2 engines.
 

What Information does this report contain?

Historical data coverage: 2018 to 2022; Growth Projections: 2023 to 2032.
Expert analysis: industry, governing, innovation and technological trends; factors impacting development; drawbacks, SWOT.
6-7 year performance forecasts: major segments covering applications, top products and geographies.
Competitive landscape reporting: market leaders and important players, competencies and capacities of these companies in terms of production as well as sustainability and prospects.

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