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.
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.
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.
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
- Insights and Tools based on data-driven research
- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.
Below is a snapshot of these quadrants.
1. Customer Experience Map
The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
2. Insights and Tools
The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.
3. Actionable Results
The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.
4. Strategic Frameworks
The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.
The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
9. What are some of the value-grab opportunities in various segments?
10. What will be the barrier to entry for new players in the market?
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.