Small-Scale Power Generation Market to See Incredible Growth | 2025
Presently,
energy systems are undergoing significant and extensive changes. The
world is moving away from centralized fossil fuel and nuclear-based
large power systems toward a more distributed or decentralized
system. The drivers driving these changes are regulations to cut down
on greenhouse gas emissions, to increase the share of renewable
energy sources in energy mix, to enhance energy efficiency, and also
the need of energy security. These distributed systems majorly rely
on renewables and combined heat and power (CHP) systems for power
generation, which enable the consumers to become producers of their
own power.
Read
Report Overview @
The
conventional power systems have been primarily centralized with power
generation at bigger and larger power plants and generated power
flowing through voltage chain; however, this trend is expected to
change with an increase in small scale power generation capacity at
local level either due to local energy sources or due to increase in
local energy demands. The policies and incentives offered by various
governments for renewables across the world is estimated to give a
vital boost to the small-scale power generation market, and the same
is anticipated to expand at a healthy rate during the forecast period
due to increase in demand for standby power and better power quality
by the end-user markets.
In
terms of source of energy, the small-scale power generation market
can be segmented into renewable and non-renewable sources of energy.
The renewable sources comprise small-scale solar power plants and
wind turbines, small-scale hydro plants, biogas, and biomass. The
renewable sources segment is projected to increase at a substantial
rate during the forecast period due to reduced carbon footprint from
these sources of energy for small-scale power generation. The
non-renewable sources of energy include oil and natural gas for
small-scale power generation from reciprocating internal combustion
engines, gas turbines, small steam turbines or micro turbines. The
efficiency of these systems can be improved by employing combined
heat and power (CHP) system, which recovers wasted thermal energy in
order to utilize it for various purposes such as water heating or
space heating. The non-renewable segment is likely to dominate the
small-scale power generation market by source of energy during the
forecasted period.
In
terms of end-user industry, the small-scale power generation market
can be segmented into residential, commercial, and industrial. The
industrial segment is projected to have significant share in the
small-scale power generation market. While the commercial segment is
predicted to expand at a significant growth rate during the forecast
period.
In
terms of region, the small-scale power generation market can be
segmented into North America, Europe, Asia Pacific, Middle East &
Africa, and Latin America. North America is estimated to dominate the
small-scale power generation market with the U.S. holding major share
in the region. While the market in Asia Pacific is predicted to
expand at a rapid growth rate during the forecast period primarily
due to the emerging markets, increasing power demands and expanding
infrastructure in developing economies of India and China. Middle
East and Africa is projected to follow the lead of Asia Pacific in
terms of growth rate for the small-scale power generation market.
Request
to view Sample Report:
Key
players operating in the small-scale power generation market are
Siemens AG, Ansaldo Energia, First Solar, FuelCell Energy Inc.,
Canyon Industries Inc., Capstone Turbine Corporation, Bloom Energy,
Ballard Power Systems, Mitsubishi Hitachi Power Systems Americas
Inc., and Yingli Solar.
Comments
Post a Comment