Market Size -$ 113.53 bn in 2013, Market Growth – CAGR of 6.8%, Market Trends – Growing energy demand in Asia to drive growth new report by Grand View Research. View complete report with TOC
Further key findings from the study suggest:
The global installed capacity for DEG was 102.97 GW in 2013 and is expected to reach 227.63 GW by 2020, growing at a CAGR of 12.0% from 2014 to 2020.CHP was the most dominant technology in the DEG market with installed capacity of 44.50 GW in 2013. However, solar PV was the largest segment of the market in terms of revenue due to the high cost and large installed base. The solar PV revenue in DEG was USD 55.90 billion in 2013 and is expected to grow at a CAGR of 6.4% from 2014 to 2020.Commercial and industrial installations of DEG were the largest end-use segment, accounting for 76.55 GW of global installed capacity in 2013. However, building and residential applications of DEG is expected to be the fastest growing segment of the market, at an estimated CAGR of 13.5% from 2014 to 2020.Europe has the largest installed capacity for DEG, exceeding 41.00 GW in 2013; owing to stringent regulatory scenario resulting in high preference towards DEG. Asia Pacific is expected to be the fastest growing regional market, at an estimated CAGR of 12.7% from 2014 to 2020 owing to increasing energy demand from India and China.The key companies in the market include First Solar Inc., General Electric Energy LLC, FuelCell Energy Inc., Ballard Power Systems Inc., JA Solar Holdings Co. Ltd., Sharp Corp., Ingersoll-Rand plc, Suntech Power Holdings Co. Ltd., Siemens AG, Yingli Green Energy Holding Co. Ltd. and UTC Power LLC.