SHARE

Global microgrid market is expected to reach USD 38.74 Billion by 2025, at a CAGR of 10.27% from 2018 to 2025. The increased demand for automated grid systems, reduction in carbon footprint, low cost and renewable energy storage, and integration of IoT with microgrid are the key factors for the growth of the market.

Market Overview: Microgrid are used to provide power for various purposes to individual consumer or industries. It can also be used to provide power to whole area or cities based on the requirement. These microgrid can be connected to other grids to provide power source as well as it can be used to store the power for future needs.  For instance, in 2017, ENEL launched first plug and play micro-grid In Chile. This microgrid was powered by solar energy and has hydrogen-based storage. The rising demand of the electricity in various verticals such as healthcare, military and industries that need immediate power backup source to have uninterrupted operation has driven the market of microgrid. These microgrid offer easy availability of power backup and uses various power sources like natural gas, combined heat and power, diesel, solar, and other sources to generate electricity.

To Get Free Sample Report Visit @ https://researchstore.biz/report/global-microgrid-market/71592/#requestforsample

Report Description:

  • The base year for the study has been considered 2017, historic year 2015 and 2016 and, the forecast period considered is from 2018 to 2025. The microgrid market is analysed on the basis adoption and penetration rate.
  • The report provides the key data of adoption and penetration rate, technological roadmap, and supply demand ratio analysis in order to understand the present and future scenario of the market.
  • The study delivers a comprehensive analysis of global microgrid market by type, connectivity, offering, power source, application, and regions.
  • The report offers in-depth analysis of driving factors, opportunities, restraints, and challenges for gaining the key insight of the market. The report emphasizes on all the key trends that play a vital role in the enlargement of the market from 2018 to 2025.
  • Porter’s Five Forces model is used in order to recognize the competitive scenario in the global microgrid market. This report incorporates the industry analysis which is focused on providing an extensive view of the microgrid market.
  • The study also includes attractiveness analysis of type, connectivity, offering, power source, application, and regions which are benchmarked based on their market size, growth rate and attractiveness in terms of present and future opportunity for understanding the future growth of the market.
  • The report provides company profile of the key players operating in the microgrid market and a comparative analysis based on their business overviews, product offering, segment market share, regional presence, business strategies, innovations, mergers & acquisitions, recent developments, joint venture, collaborations, partnerships, SWOT analysis, and key financial information.
  • The market estimates have been evaluated by considering the effect of different political, economic, social, technological and legal factors which are based on our extensive secondary research, primary research, and in-house databases.

Global Microgrid Market Key Findings: All the segments have been analysed on global, regional and country basis. The study includes the analysis of more than 30 countries for each segment. Segmentation Analysis: The microgrid market is segmented on the basis of type, connectivity, offering, power source, and application.

  • Type segment includes AC microgrid, DC microgrid, and hybrid. DC microgrid segment is anticipated to grow with the highest CAGR of 13.04% over the forecast period. Here, contributing factors are cost efficiency and uses of power sources like solar, diesel, fuel cells to provide power sources for various requirements. The increasing use of distributed generations and energy storages is the key factor to drive the demand of DC microgrid segment.
  • The connectivity segment is divided into grid connected and remote/island. The grid connected segment is expected to dominate the market with the market size of USD 24.14 Billion in 2017 as they operate indecently and have larger penetration rate for renewable sources.
  • Offering segment is divided into hardware, software and service segment. The software segment held largest market share of 37.14% in 2017. Software helps in controlling the microgrid by using the applications installed in systems, smartphones, or tablets. This convenience of accessing the microgrid even if we are away from microgrid location is playing the chief role in shaping business growth, disrupting industry verticals and is acting as a catalyst for business modernization.
  • Power source segment contains natural gas, solar, fuel cells, combined heat and power, diesel, and others. The solar segment is dominating the market with the CAGR of 6.45% during the forecast year. The easy availability and pollution free resource are the key constraints for the popularity of solar based power source.
  • Application segment covers healthcare, educational institutions, industrial, military, and electric utility. Healthcare segment valued around USD 4.60 Billion in 2017 as microgrid devices allow the emergency power backup service. The healthcare needs immediate power backup as the life-saving devices used in hospitals wholly rely on the power.


Regional Segmentation Analysis:
The market is analysed on the basis of five regions namely North America, Europe, Asia Pacific, South America, and Middle East and Africa. North America region held the largest market share of 34.81% in 2017 where as the Asia Pacific region held the second dominant position in the global microgrid market.

  • The technological advancement, adoption of automated grid systems, and the presence of major players are some of the factors that led to the growth of the microgrid market in North America region.
  • Asia Pacific is rapidly growing in the microgrid market due to the increasing adoption of low cost renewable energy. Also the installation of new microgrid plants in countries like India and China has also contributed to a major lead of the market.


Global Microgrid Market Competitive Analysis:
Key players in the microgrid market are Exelon, Lockheed Martin Corporation, ABB Group, Power Analytics, Toshiba Corporation, ZBB Energy Corporation, Echelon Corporation, Siemens AG, Honeywell International Inc., Pareto Energy, Homer Energy, Caterpillar Inc., Advanced Microgrid Solution, Green Energy Corporation, General Electric Company, NREL Sustainable Power System, Schneider Electric, and others. The General Electric Company, Schneider Electric, ABB Group, and Siemens AG are the top leading players of the market. For instance, in 2018, Arensis and Schneider Electric entered into smart microgrid partnership and launched IO smart microgrid solutions by using block chain application programming interface (API) platform.

To Get Complete Information Visit @ https://researchstore.biz/report/global-microgrid-market/71592/

Global Microgrid Market, By Type:

  • AC Microgrid
  • DC Microgrid
  • Hybrid

Global Microgrid Market, By Connectivity:

  • Grid Connected
  • Remote/Island

Global Microgrid Market, By Offering:

  • Hardware
  • Services
  • Software

Global Microgrid Market, By Power Source:

  • Natural Gas
  • Solar
  • Fuel Cells
  • Combined Heat And Power
  • Diesel
  • Others

Global Microgrid Market, By Application:

  • Healthcare
  • Industrial
  • Military
  • Electric Utility
  • Educational Institutions

Global Microgrid Market, By Regions:

  • North America
    • U.S.
    • Canada
    • Mexico
  • Europe
    • Germany
    • France
    • Sweden
    • Netherlands
    • U.K.
    • Italy
    • Spain
    • Turkey
    • Switzerland
    • Belgium
    • Rest of Europe
  • Asia-Pacific
    • Japan
    • China
    • India
    • South Korea
    • Australia
    • Singapore
    • Malaysia
    • Thailand
    • Indonesia
    • Philippines
    • Rest of Asia-Pacific
  • South America
    • Brazil
    • Argentina
    • Colombia
    • Rest of South America
  • Middle East and Africa
    • Saudi Arabia
    • UAE
    • Egypt
    • Nigeria
    • South Africa
    • Rest of Middle East and Africa

Do Inquiry Before Buying @ https://researchstore.biz/report/global-microgrid-market/71592/#inquiry

*All our reports are customizable as per customer requirements. Please connect with our sales team (sales@researchstore.biz).

SHARE