Wellesley, Mass, April 11, 2017 (GLOBE NEWSWIRE) -- New proprietary research by BCC Research reveals that in the distributed energy generation (DG) market, strong expansion of research and product development among high-performing technologies, along with consolidation and reorganization among lower-performing technologies, are expected to fuel near double-digit growth rates.
BCC Research's Distributed Energy Generation reports the global market for DG technologies reached nearly $65.8 billion in 2015, which should jump to nearly $69.7 billion in 2016, and then explode to $109.5 billion in 2021.
Research Highlights
- Strongest growth is expected in regions and countries with favorable market and regulatory conditions.
- DG technologies will assume greater importance as fuel cell costs continue to fall.
- Fuel-based technologies as a segment is expected to reach 10.8% CAGR through 2021.
"The DG market is founded on several discrete technologies including reciprocating engines, small combustion turbines, microturbines, fuel cells, small hydropower, small wind and distributed solar," says Kevin Fitzgerald, BCC Research editorial director. "Growth rates will vary considerably, however, by individual technologies. Certain technologies will struggle to regain from losses incurred since 2012, while others will enjoy rapid growth and development."
DG Market Expected to Achieve Impressive, Steady Growth
Uneven and sometimes volatile growth in the DG market is due to a wide range of market drivers including regional and national economic and industrial development rates, varying levels of regulatory support, fuel prices, equipment costs and performance and energy source.
"In the past five years, revenue expansion despite favorable market drivers was not as rapid as anticipated. Weaker performance in recent years was driven by a partial slowing of emerging markets along with lackluster European growth in the wake of economic restructuring in that region" notes Fitzgerald. "Looking forward, continued global economic stabilization will enable several DG technologies to achieve robust growth while others will struggle to gain market share against increasingly strong competitive forces."
About BCC Research
BCC Research is a publisher of market research reports that provide organizations with intelligence to drive smart business decisions. By partnering with industry experts worldwide, BCC Research provides unbiased measurements and assessments of global markets covering major industrial and technology sectors, including emerging markets. For more information about BCC Research, please visit bccresearch.com. Follow BCC Research on Twitter at @BCCResearch.