Latest Trends of Microgrid Market 2018 - 2026

Press Release – 04 Feb 2019

Research and Development News --

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Latest Update "Microgrid Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2018 - 2026" with Industries Survey | Global Current Growth and Future.

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“Microgrid Market - Overview”

Microgrid is an arrangement of distributed energy sources and loads as a single controllable entity within a well-defined electric boundaries. Microgrids can connect to and disconnect from utility grids, enabling them to operate in a grid-connected and island mode and offering better reliability and grid resilience. Microgrids provide several benefits such as integration of smart grids and grid modernization. Moreover, they act as a power backup in case of main grid failure. Increasing demand for power and advancements in the distributed generation technology are anticipated to drive the microgrid market in the next few years.

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This report analyzes and forecasts the market for microgrid at the global and regional levels. The market has been forecast in terms of volume (megawatt) and value (US$ Mn) from 2018 to 2026, considering 2017 as the base year. The study includes drivers and restraints of the global microgrid market. It also covers the anticipated impact of these drivers and restraints on the demand for microgrids during the forecast period. The report highlights opportunities in the microgrid market at the global and regional levels.

The report includes detailed value chain analysis, which provides a comprehensive view of the global microgrid market. Porter’s five forces model for the microgrid market has also been included to help understand the competition landscape of the market. The study encompasses market attractiveness analysis, wherein connectivity and application segments have been benchmarked based on their market size, growth rate, and general attractiveness.

The study provides a decisive view of the global microgrid market by segmenting it in terms of connectivity and application. In terms of connectivity, the market can be classified into grid-tied (grid-connected) and off-grid. Based on application, the microgrid market can be categorized into campus & institution, community & utility, commercial & industrial, defense & military, and remote island. These segments have been analyzed based on the present and future trends. Regional segmentation includes the current and forecast demand for microgrid in North America, Europe, Asia Pacific, Latin America, and Middle East & Africa.

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The report provides the actual market size of the microgrid market for 2017 and the estimated market size for 2018 with forecast for the next eight years. The size of the global microgrid market has been provided in terms of volume and value. The market volume has been defined in megawatts, while the market value has been defined in US$ Mn. Market numbers have been estimated based on connectivity and application segments of the microgrid market. The market size have been provided for global, regional, and country-level markets.

The report comprises profiles of major companies operating in the global microgrid market. Key players in the market are 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. Market players have been profiled in terms of attributes such as company overview, financial overview, business strategies, regional presence, and recent developments.

The global microgrid market has been segmented as follows:

Global Microgrid Market, by Connectivity  

- Grid-tied (Grid-connected)

- Off-grid 

Global Microgrid Market, by Application

- Campus & Institution

- Community & Utility

- Commercial & Industrial

- Defense & Military

- Remote Island 

Global Microgrid Market, by Region

- North America

- U.S.

- Canada

- Europe

- Germany

- U.K.

- France

- Denmark

- Russia & CIS

- Norway

- Rest of Europe

- Asia Pacific

- China

- India

- Australia

- ASEAN

- Rest of Asia Pacific

- Latin America

- Middle East & Africa 

Key Takeaways 

- The report provides extensive analysis of the microgrid market trends and shares from 2017 to 2026 to identify growth opportunities and analyze market developments

- The grid-tied (grid-connected) segment accounts for a prominent market share, due to high demand for reliable and affordable power from industrial, commercial, communities, and other end-users

- Among applications, the community & utility segment is anticipated to expand at a significant rate during the forecast period

- Among regions, the market in Asia Pacific is expected to expand at a significant rate during the forecast period

- Aging power infrastructure, increasing incidence of power outages, and rising distributed generation capacities are expected to drive the microgrid market in the near future

- The report offers a list of key factors useful for building a roadmap of upcoming opportunities for the microgrid market at the global, regional, and country levels

- The report provides insights into growth opportunities for various stakeholders in the value chain and a detailed competition landscape of key players operating in the market to help understand the market competition level

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