Growing Demand for Reliable Power Supply Drives Distributed Generation Market Growth
Distributed generation refers to small-scale power generation technology used to produce electricity close to the location where it is used. Distributed generation allows generating and distributing electricity closer to customers and the electrical demand centre. Distributed generation systems provide reliable, sustainable and cost-effective power supply to residential, commercial and industrial customers. They are commonly used in remote areas with unreliable grid connectivity. The global distributed generation market is estimated to be valued at US$ 364.46 billion in 2024 and is expected to exhibit a CAGR of 14% over the forecast period 2024 to 2031, as highlighted in a new report published by Coherent Market Insights. Market key trends Increasing investment in renewable energy is considered as one of the key trends fueling the growth of the distributed generation market. Rapid industrialization and urbanization have increased energy demand across developing regions. However, ...