Microgrid Market, By Type (Grid-connected and Remote/Island), By Grid Type (AC Microgrid, DC Microgr

Published Date: | Report Code : EP1944331

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Microgrid Market, By Type (Grid-connected and Remote/Island), By Grid Type (AC Microgrid, DC Microgrid, and Hybrid), By Offering (Hardware, Software, and Services), By Power (Natural Gas, Combined Heat & Power, Diesel, Solar, Fuel Cells, and Others), and By Region (North America, Western Europe, Eastern Europe, Asia Pacific, Middle East, and Rest of the World) – Market Size & Forecasting (2016-2028)

COVID-19 Impact : Our team has been closely monitoring the current developments to identify the potential impact of COVID-19 on stakeholders and business processes across the value chain of industries. A special section about COVID-19 will be covered with the report to help companies in defining sustainable strategies.

Domain : Energy

Report Code : EP1944331

Status : Upcoming

Microgrid Market is expected to promise high growth owing to increasing investments by governments in recent years. Increasing demand from End-Use Industries / Applications including grid-connected and remote/island is expected to drive the growth of the microgrid market. This market has witnessed number of key developments by major companies including Siemens, Honeywell International Inc., Toshiba Corporation, GE Digital Energy, Lockheed Martin Corporation, ZBB Energy Corporation, ABB Ltd., Power Analytics Corporation, Consert Inc., Viridity Energy, Inc., S&C Electric Company, Chevron Energy, HOMER Energy LLC, and Microgrid Energy LLC  with focus on organic as well as inorganic growth strategies.  Developing regions including the Asia Pacific and the Middle East have been among the high potential markets with high growth in some of the key economies.

A confined power station that has its own capacity assets and determinable limits can be viewed as a microgrid. A microgrid by and large works while being associated with the grid, yet when required, it can sever and work without the grid. In other words, it can operate using local energy in case of an emergency such as power blackouts, storms, etc.

Segment Analysis

The software offering segment is growing at a rapid pace. Software services are used by organizations, institutions, and utilities that need to be propelled to observe, control at a reasonable cost without the problem of monitoring and maintaining the IT infrastructure. Currently, North America is driving the microgrid market. The US and Canada are state-of-the-art nations that adopt microgrid arrangements.

Key Factors Impacting Market Growth:

  • Increasing investments by governments
  • Affordable system to store energy
  • High maintenance cost
  • Risks related to operations and security with microgrids
  • Non-compatibility with various devices

Regional Outlook:

The regional outlook for microgrid market provides detailed information for markets including North America, Western Europe, Eastern Europe, Asia Pacific, Middle East, and Rest of the World. North America and Western Europe are estimated to be key regions for microgrid market during the forecast period. Being one of the industrialized regions, the energy & power sector is key to the operations of various industries in this region. This is one of the important factors governing the growth of microgrid market in these regions. Some of the major countries covered in this region include US, Germany, UK, France, Italy, Canada, and so on. 

Asia Pacific is estimated one of the fastest growing regions for microgrid market during the forecast period. Some of the fastest growing economies and increasing demand for energy & power to cater high population & industries is expected to drive the demand in this region. China and India are projected to register major demand during the forecast period. Middle East that includes UAE, Saudi Arabia, Iran, Qatar, and others promises high market potential during the forecast period. Rest of the World including South America and Africa are emerging regions in terms of market demand during the forecast period.

Companies Covered: Companies Covered:  Siemens, Honeywell International Inc., Toshiba Corporation, GE Digital Energy, Lockheed Martin Corporation, ZBB Energy Corporation, ABB Ltd., Power Analytics Corporation, Consert Inc., Viridity Energy, Inc., S&C Electric Company, Chevron Energy, HOMER Energy LLC, and Microgrid Energy LLC

Market Segmentation:

By Type:

  • Grid-Connected
  • Remote/Island

By Grid Type:

  • AC Microgrid
  • DC Microgrid
  • Hybrid

By Offering:

  • Hardware
    • Switch Gears
    • Power Inverters
    • Smart Meters
    • Reciprocating Engines
    • Energy Storage Systems
    • Power Generators
  • Software
  • Services

By Power:

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

By Region:

  • North America
    • By Country (US, Canada, Mexico)
    • By Type
    • By Grid type
    • By Offering
    • By Power
  • Western Europe
    • By Country (Germany, UK, France, Italy , Spain, Rest of Western Europe)
    • By Type
    • By Grid type
    • By Offering
    • By Power
  • Eastern Europe
    • By Country (Russia, Turkey, Rest of Eastern Europe)
    • By Type
    • By Grid type
    • By Offering
    • By Power
  • Asia Pacific
    • By Country (China, Japan, India, South Korea, Australia, Rest of Asia Pacific)
    • By Type
    • By Grid type
    • By Offering
    • By Power
  • Middle East
    • By Country (UAE, Qatar, Iran, Saudi Arabia, Rest of Middle East)
    • By Type
    • By Grid type
    • By Offering
    • By Power
  • Rest of the World
    • By Region (South America, Africa)
    • By Type
    • By Grid type
    • By Offering
    • By Power

Reasons to Buy This Report:

  • Market size estimation of the global microgrid market on a regional and global basis
  • The unique research design for market size estimation and forecast
  • Profiling of major companies operating in the market with key developments
  • Broad scope to cover all the possible segments helping every stakeholder in the market

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