What is Global Distributed Energy Resources (DERs) Market?
The Global Distributed Energy Resources (DERs) Market is a vast and complex field that is rapidly evolving. DERs are small-scale power generation or storage technologies (typically in the range of 1 kW to 10,000 kW) used to provide an alternative to or an enhancement of the traditional electric power system. They are decentralized, modular, and more flexible technologies that are located close to the load they serve. These resources can be deployed individually at a site, or they can be aggregated to provide power at a grid scale. They can be owned by utilities, customers, or third parties. The types of DERs include solar photovoltaic (PV) systems, wind turbines, energy storage systems, electric vehicles, demand response, and energy efficiency measures. The global DERs market is growing at a significant pace due to the increasing demand for energy, coupled with the rising awareness about green energy. However, the market faces several challenges such as high initial investment and lack of awareness among end-users. Despite these challenges, the market is expected to grow significantly in the coming years due to the increasing adoption of DERs in various sectors such as residential, commercial, and industrial.
Wind DERs, PV DERs in the Global Distributed Energy Resources (DERs) Market:
Wind DERs and PV DERs are two of the most common types of DERs in the global market. Wind DERs are small wind turbines that are used to generate electricity on a small scale. They are typically used in rural areas where the grid is not available or is unreliable. On the other hand, PV DERs are solar panels that convert sunlight directly into electricity. They are widely used in both residential and commercial settings due to their ease of installation and low maintenance requirements. The global market for Wind DERs and PV DERs is growing at a rapid pace due to the increasing demand for clean and renewable energy. The market is also being driven by the falling prices of wind turbines and solar panels, making them more affordable for a larger number of consumers. However, the market faces several challenges such as the intermittent nature of wind and solar energy and the lack of a robust grid infrastructure to support the integration of these DERs. Despite these challenges, the market is expected to grow significantly in the coming years due to the increasing awareness about the benefits of renewable energy and the supportive government policies and incentives.
Commercial, Residential, Others in the Global Distributed Energy Resources (DERs) Market:
The Global Distributed Energy Resources (DERs) Market is widely used in various sectors such as commercial, residential, and others. In the commercial sector, DERs are used to provide reliable and cost-effective power supply to businesses and industries. They are also used to reduce the reliance on the grid and to improve energy efficiency. In the residential sector, DERs are used to provide power to homes and apartments. They are also used to reduce electricity bills and to provide a backup power supply in case of power outages. In other sectors, DERs are used in various applications such as in agriculture for irrigation, in transportation for charging electric vehicles, and in healthcare for powering medical devices. The use of DERs in these sectors is expected to increase in the coming years due to the growing demand for reliable and clean energy. However, the market faces several challenges such as the high initial cost of DERs and the lack of awareness among consumers. Despite these challenges, the market is expected to grow significantly in the coming years due to the increasing awareness about the benefits of DERs and the supportive government policies and incentives.
Global Distributed Energy Resources (DERs) Market Outlook:
The global Distributed Energy Resources (DERs) market, valued at US$ 44040 million in 2022, is projected to reach a valuation of US$ 51370 million by 2029. This represents a Compound Annual Growth Rate (CAGR) of 2.6% during the forecast period of 2023-2029. The market is dominated by the top three companies, which collectively hold a market share of over 30%. Geographically, Asia-Pacific is the largest market for DERs, accounting for about 60% of the global market share. This is followed by Europe and North America, which hold market shares of about 20% and 15% respectively. The growth of the DERs market is driven by the increasing demand for clean and renewable energy, the falling prices of DERs, and the supportive government policies and incentives. However, the market faces several challenges such as the high initial cost of DERs and the lack of a robust grid infrastructure to support the integration of DERs. Despite these challenges, the market is expected to grow significantly in the coming years due to the increasing awareness about the benefits of DERs and the supportive government policies and incentives.
| Report Metric | Details |
| Report Name | Distributed Energy Resources (DERs) Market |
| Accounted market size in 2023 | US$ 44040 million |
| Forecasted market size in 2029 | US$ 51370 million |
| CAGR | 2.6 |
| Base Year | 2023 |
| Forecasted years | 2023 - 2029 |
| Segment by Type |
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| Segment by Application |
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| By Region |
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| By Company | GE, Siemens, Vestas, Goldwind, Envision, LONGi, JinkoSolar, DRAX, JA Solar, Trina Solar, Canadian Solar, Hanwha Solutions, Risen Energy, First Solar, Enel Group, Ørsted, NEC, Chint Electrics, Schneider Electric, Caterpiller, SunPower, Seraphim, LG Business Solutions, Jinergy, Jolywood, Solargiga, Shunfeng, EGing PV, Cummins, Tangshan Haitai, HT-SAAE, Talesun Solar, GCL System |
| Forecast units | USD million in value |
| Report coverage | Revenue and volume forecast, company share, competitive landscape, growth factors and trends |
