Market Size of Europe DC Distribution Network Industry
| Study Period | 2020 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2020 - 2022 |
| CAGR | 8.27 % |
| Market Concentration | Medium |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Europe DC Distribution Network Market Analysis
The Europe DC distribution network market size is estimated to be at USD 17.12 billion by the end of this year and is projected to reach USD 24.05 billion in the next five years, registering a CAGR of over 5.50 % during the forecast period.
- Over the long term, factors such as growth in the renewable energy sector and its compatibility with battery storage devices and advantages over AC distribution, like power sharing between systems with different frequencies, are expected to drive the market in Europe during the forecast period.
- On the flip side, high initial cost and a lot of complexity compared to generic distribution networks are the factors expected to hinder the growth of the market studied.
- The DC distribution network is considered an important element with regard to the future aspects of smart grids. Also, solar power is estimated to supply one-third of the world's energy demand by 2060, thereby proliferating the DC distribution market in the future, as solar energy generates a direct current.
- Germany is expected to witness significant demand in the European DC distribution network market during the forecast period.
