The decentralized electricity generation market can be split into three categories. These are electricity production sources, power production modes and geographies. The electricity production sources market includes wind turbines, solar panels, waste-to-energy sources and cogeneration. The power production modes decentralized electricity generation market includes micro turbines, reciprocating engines and trigeneration, fuel cells, combined heat and power, photovoltaic systems and micro turbines.
The geographies decentralized electricity generation market includes Asia Pacific, rest of the world, North America and Europe. Electricity can be produced, either at different sites or centrally, depending on the geographic demand, utilization or general demand. One of the components that drives further demand for the decentralized electricity generation market is the ever-rising demand for electricity. This demand urges production establishments to boost their yield and cater to all requirements.
Moreover, distributed electricity generation provides the benefit of not relying on a sole power station for meeting the demands of the entire region. This benefit does well for the decentralized electricity generation market and steers it ahead. However, because of profuse accessibility to renewable reserves, decentralized generation amenities can be launched in majority of the places in the world. This factor opens development opportunities for the market.
On a geographic basis, Europe is the most dynamic decentralized electricity generation market. It is driven by the nations of Austria, Germany, Switzerland and France. The United States possesses most of the power generation amenities for North America. The Asian Pacific decentralized electricity generation market has its amenities in India, China, Malaysia, Singapore and Australia.
Information Source: Grand View Research