Mar 6, 2020   SOURCE: BusinessWire

$47B+ Microgrid Market Insights by Connectivity, Offering, End-use, Grid Type, Pattern and Region - Forecast to 2025 - ResearchAndMarkets.com

The "Microgrid Market by Connectivity (Grid Connected and Off-Grid Connected), Offering (Hardware and Software & Services), End-Use (Commercial & Industrial, Remote, Institutes & Campuses), Grid Type, Pattern, Region - Global Forecast to 2025" report has been added to ResearchAndMarkets.com's offering.

The Global Microgrid Market Size is Projected to Reach US$ 47.4 Billion by 2025 from US$ 28.6 Billion in 2020, Rising at a CAGR of 10.6%.

Major drivers for the market's growth are rising demand for clean energy, increasing instances of cyberattacks on the energy infrastructures, growing requirement for reliable and secure global power supply, and rising global deployment of microgrids for rural electrification.

Further, the expansion of renewable energy capacity of countries of APAC and government initiatives to encourage the development of microgrids are the opportunities for microgrid developers. The major restraint for the market is high installation costs. Technical issues faced during the operation of island mode microgrids and lack of regulatory frameworks related to operations of microgrids pose a significant challenge to this market.

Grid-connected connectivity to hold the largest share of the microgrid industry during the forecast period

The grid-connected segment accounted for a larger share of the microgrid market in 2019. The growth of this segment can be attributed to the expansion of utility-based grid networks, coupled with the large-scale use of renewable sources of energy such as offshore wind.

Grid-connected microgrids offer grid resiliency & improved quality power and have a low impact on the environment. They comprise multiple generators, distribution systems, and sophisticated controls and rely on main power grids for power balance and energy backup.

Among all end-use, remote to hold the largest share of the microgrid market from 2020 to 2025

The growth of this segment of the market can be attributed to the increased adoption of microgrids in remote areas. According to the International Energy Association, approximately 1 billion people in remote areas around the world lack access to electricity owing to the high costs of fossil fuels used for electricity generation and uncertainty in terms of their availability and issues related to their transportation.

Governments of different countries are increasingly investing in the development of electricity infrastructures to provide low-cost and clean electricity. This results in increased demand for microgrids in remote areas. Microgrids are established in remote areas to generate power, as well as to manage and control distributed energy resources.

Americas to hold the largest share of the global microgrid market during the forecast period

The Americas accounted for the largest share of the microgrid industry in 2019. GE, Honeywell, S&C Electric, and Power Analytics are a few key players based in the Americas that mainly contributed to the growth of the microgrid market in the region. The microgrid industry in the Americas has been studied for North America and South America.

The Americas is considered as one of the technologically-advanced regions for microgrids owing to the presence of a large number of developers of microgrids, along with several initiatives such as Smart Power Infrastructure Demonstration for Energy Reliability and Security (SPIDERS) program undertaken by governments of different countries of the region to promote adoption of microgrids.

ABB (ABB, Switzerland), General Electric Company (GE, US), Siemens AG (Siemens, Germany), Eaton Corporation Inc. (Eaton, Ireland), Schneider Electric SE (Schneider Electric, France), Honeywell International Inc. (Honeywell, US), HOMER Energy LLC (Homer Energy, US), S&C Electric Company (S&C Electric, US), Power Analytics Corporation (Power Analytics, US), and Exelon Corporation (Exelon, US) are a few major players in the microgrid market.

Key Topics Covered

1 Introduction

2 Research Methodology

3 Executive Summary

4 Premium Insight

5 Market Overview

5.1 Introduction

5.2 Market Segmentation

5.3 Market Dynamics

5.3.1 Drivers

5.3.2 Restraints

5.3.3 Opportunities

5.4 Value Chain Analysis

6 Microgrid Market, By Connectivity

6.1 Introduction

6.2 Grid Connected

6.3 Off-Grid Connected

7 Microgrid Market, By Type (Qualitative)

7.1 Introduction

7.2 AC Microgrids

7.3 DC Microgrids

7.4 Hybrid

8 Microgrid Market, By Pattern

8.1 Introduction

8.2 Urban/ Metropolitan

8.3 Semiurban

8.4 Rural/Island

9 Microgrid Market, By Offering

9.1 Introduction

9.2 Hardware

9.2.1 Power Generators

9.2.2 Energy Storage Systems

9.2.3 Controllers

9.3 Software

9.4 Services

9.4.1 Engineering and Design

9.4.2 Monitoring and Control

9.4.3 Operations and Maintenance

10 Microgrid Market, By End Use

10.1 Introduction

10.2 Commercial & Industrial

10.3 Remote

10.4 Institutes & Campuses

10.5 Government

10.6 Utilities

10.7 Military

10.8 Healthcare

11 Microgrid Market, By Geography

11.1 Introduction

11.2 Americas

11.2.1 North America

11.2.1.1 US

11.2.1.2 Rest of North America (Canada & Mexico)

11.2.2 South America

11.2.2.1 Brazil

11.2.2.2 Rest of South America

11.3 Europe

11.3.1 Germany

11.3.2 UK

11.3.3 France

11.3.4 Rest of Europe

11.4 APAC

11.4.1 China

11.4.2 Japan

11.4.3 Australia

11.4.4 Rest of APAC

11.5 RoW

11.5.1 Middle East

11.5.2 Africa

12 Competitive Landscape

12.1 Introduction

12.2 Company Ranking Analysis

12.3 Competitive Leadership Mapping

12.3.1 Visionary Leadership

12.3.2 Dynamic Differentiators

12.3.3 Innovators

12.3.4 Emerging

12.4 Competitive Scenario

12.4.1 New Product Developments

12.4.2 Mergers & Acquisitions

12.4.3 Partnerships, Collaborations, Contracts

13 Company Profiles

13.1 Introduction

13.1.1 ABB

13.1.2 General Electric

13.1.3 Eaton

13.1.4 Siemens

13.1.5 Schneider Electric

13.1.6 Honeywell

13.1.7 Homer Energy

13.1.8 S&C Electric

13.1.9 Power Analytics

13.1.10 Exelon Corporation

13.2 Other Important Players

13.2.1 Pareto Energy

13.2.2 Anbaric Transmission

13.2.3 TESLA

13.2.4 SPIRAE

13.2.5 General Micro grids

13.3 KEY Innovators

13.3.1 GRAM Power

13.3.2 Power Hive

13.3.3 Advanced Microgrid Solutions

13.3.4 Go Electric

13.3.5 DAJIE

For more information about this report visit https://www.researchandmarkets.com/r/vsz5rw