Global Microgrid Market Size is estimated to expand rapidly in coming years, at a CAGR of 11.8 % from 2018 to 2025. In 2017, the global market valuation was USD 21.5 billion, and it is anticipated to be greater than USD xx.xx billion by 2025. A microgrid is a small power grid which can function separately or together with the primary energy plant of the area. It is a set of interconnected loads and energy resources spread within obviously specified electrical limits. It functions in relation to the system as a single controlling organization. To allow a Grid to operate in loop linked as well as remote/insulating modes, the microgrid cannot be connected to or removed from the grid. The microgrids are suitable for a variety of verticals, including education, manufacturing, army, health, public, and utilities.
Main factors for the growth of microgrid sector include a growing requirement for safe and reliable energy supplies; extensive industrialization and population growth driving energy storage devices requirement; public efforts to decrease carbon footprint; IoT integration in grid building and the benefits of inexpensive, smooth energy distribution.
Global Market Growth Opportunities (Revenue, Growth) By 2017-2025
This global market study report analysis offers in-depth insights, revenue details, and other vital information regarding the global microgrid market, and the various trends, drivers, restraints, opportunities, and threats in the target market till 2025. The report offers insightful and detailed information regarding the various key players operating in the market, their financials, supply chain trends, technological innovations, key developments, apart from future strategies, acquisitions & mergers, and market footprint. The global microgrid market report has been segmented on the basis of type, application, and region. It includes the estimation of the market size, in terms of value, with respect to 4 main geographies, namely, North America, Europe, APAC, and RoW.
By Offering Insights: On the basis of offering, global microgrid market has been segmented into hardware, software, and services. Among which microgrid market for software segment is expected to be the highest growing segment in the global market of the microgrid. The elevated amount of acceptance of software across universities, manufacturing and business locations, townships and services can be ascribed to this development. Microgrid providers are able to dynamically handle and regulate distributed energy sources using the software as a service platform through embedded climate and charge forecasting. Microgrid managers have a single responsibility and lower risk of design errors and errors with software management facilities. This makes the scheme easier, more efficient and cost-effective.
By Type Insights: On the basis of type, global microgrid market has been segmented into grid-connected, and remote/island. Among which grid-connected segment is expected to be the highest growing segment in the global market of a microgrid. A grid-connected scheme works in the context of a large power grid, while a restricted distributed energy scheme is said to have been separated from the primary grid in remote / island / off-grid fashion. The remote / island / off-grid section is greater and is anticipated to increase at a greater pace as solar photovoltaics and wind turbines costs fall.
The microgrid market is divided into regions that are North America - U.S, Canada, Other; Asia-Pacific -India, Japan, China, Australia, Other; Europe - UK, Russia, France, Brazil, Other; Middle East and Africa. Every region analysis details in sense of growth, revenue, volume, challenges, and opportunities with the regional and global key players.
Between 2018 and 2025, the APAC microgrid industry is anticipated to expand on the largest CAGR. The growing amount of rural electrification initiatives in India and increased investment by domestic and foreign businesses such as ABB, Siemens, SunEdison and Omnigrid can be ascribed to the greatest increase in market growth in APAC. The supply for microgrid in APAC is all driving these variables.
The major growth of Distributed Energy Resources (DER) and the change from standard energy technologies are expected to make North America develop. The implementation of these technologies is led by a reduction in electricity grid costs, an increase in energy efficiency and lower energy costs. The microgrid market penetration is further stimulated by increased investment in the energy sector, together with on-going research & development operations in the production sector.
Global Microgrid Market Size, Share Analysis by Region 2018
Global Microgrid Market Study Objective
1. To forecast the market size of microgrid market, along with describing and defining the market, in terms of volume and revenue as well as market opportunities for stakeholders, in order to provide a competitive landscape for global market players.
2. Market analysis and forecast of microgrid market on the basis of region, substrate, and application or end-use industry. To profile major market players, and to analyze their market shares and essential competencies comprehensively.
3. To analyze and elaborate significant factors that will have a major impact on the growth of microgrid market, such as drivers, restraints, challenges, and opportunities.
4. The regional analysis of microgrid market, to induce market size of five global major regions, which include, Europe, North America, South America, Middle East & Africa, and the Asia Pacific.
5. Strategic analysis of micro-markets, in terms of individual prospects, opportunities, growth trends and their involvement in the overall market.
6. To provide detailed analysis of competitive and strategic developments in the microgrid market like a new product launch, partnership & agreement, investment & expansion, and company merger & acquisitions.
Key Players Landscape
Siemens AG, General Electric, S&C Electric Company, ABB Group, Schneider Electric SE, Engie Group, Honeywell International Inc., Echelon Corporation, Pareto Energy Limited, Toshiba Corporation, Duke Energy Corporation, and Power Analytics Corporation are some of the key players in the market of microgrid.
Global Microgrid Market Study Report Offer You!
The global microgrid market study report gives an idea about market size, share, stock, equity, investment and total price analysis. Also, the report provides comprehensively industry insights with all major factors such as market credit, allocation, demand, distribution, market scope, key players, end-user & applications, provisions, livestock, commodities and industry economics analysis, future growth & forecast. The global market report includes all depth data like pre-market emphasis, market survey, market investment, industry advice, portfolio, finance, access, trade, market exploration, industry review and market predication & projection to develop effective strategies for optimizing their market position.
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