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    Microgrid Market Report

    Microgrid Market Report
    Report code - SR1181 Delivery - 2 Weeks
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    Microgrid Market Size, Share, Trend, Forecast, & Industry Analysis – 2021-2026.
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    Impact of COVID-19 on Microgrid Market

    Covid-19 has impacted the market dynamics, competition, and global...

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    Impact of COVID-19 on Microgrid Market

    Covid-19 has impacted the market dynamics, competition, and global supply chain. The revenues have gone down in 2020 and may resume an uptrend gradually from 2021. Companies optimizing their operation and strategy will sustain and beat the competition.

    Note: The summary below might not have included insights on covid impact since we have large number of reports.

    Market Insights

    Microgrid Market is likely to witness a CAGR of 26.5% during the forecast period. The industry landscape will be bolstered by the rising need for stable and reliable power supply, as well as rising electrification rates, primarily in developing economies. The business scenario will be fueled by the increasing penetration of distributed energy resources (DERs) as a result of rapid commercial and industrial expansion.

    Microgrid Market – Snapshot

    Growth

    26.5% for the next five years

    Major Connectivity Type

    Grid Connected

    Major Grid Type

    AC Microgrid

    Major Application Type

    Industrial/commercial

    Region with the highest demand

    Asia-Pacific

    Key Players

    Eaton, Siemens, GE, Caterpillar, Schneider Electric, HOMER Energy, Honeywell International, Toshiba Corporation, AMS, S&C Electric, Tesla, Hitachi ABB Power Grids, Spirae, General Microgrids, Lockheed Martin Corporation, Heila Technologies and Exelon Corporation.

    Segments' Analysis

    Microgrid Market Share: By Connectivity Type

    Based on the connectivity type, the market is segmented as grid connected and off grid. The grid connected segment is expected to witness significant growth rate in the market during the forecast period owing to the potential in the connected microgrids to handle peak demand, improve system supply, and maintain stability in the event of a large network breakdown. Furthermore, growing consumer demand for power supply security, together with the development of Tier II and III cities, backed by government regulations and guidelines, will give birth to opportunities for business growth.

    Microgrid Market Share: By Grid Type

    Based on the grid type, the market is segmented as AC microgrid, DC microgrid, and hybrid. AC microgrid type is expected to register high growth rate in the market owing to its lower transmission losses, minimum heat generation, and effective high-end voltage levels across the network. Furthermore, it is extremely compatible with grid networks and does not require inverters for power delivery, propelling the industry dynamics. Also, the increasing deployment of high-voltage AC power networks, as well as big solar and wind farms connected to AC transmission lines, will positively influence the business environment.

    Microgrid Market Share: By Application Type

    Based on the application type, the market is segmented as healthcare, educational institutes, military, utility, industrial/commercial, remote, and others. The industrial/commercial application is estimated to account for the major share of the market during the forecast period on account of the increasing government efforts and mandates to reconstruct and overhaul existing T&D networks, as well as increased incentives to install energy-efficient alternatives. In the current context, the industrial and commercial sectors are focusing on the implementation of smart solutions across new and traditional grid infrastructure, which will favorably influence industry potential.

    Microgrid Market Share: By Region

    In terms of regions, Asia-Pacific is estimated to be the leading region in the market during the forecast period. The region’s market is driven by the rising favorable norms and incentive by various countries to pace up the sustainable energy mix. In addition, regional carbon emission targets and increased usage of stand-alone power sources will foster the technology demand over the forecast period.

     

    Market Scope & Segmentation

    A microgrid is a self-contained energy system that serves a small geographic area, such as a hospital, college campus, or corporate center. This report studies the market covering a period of 12 years of trend and forecast. The report provides detailed insights into the market dynamics to enable informed business decision making and growth strategy formulation based on the opportunities present in the market.

    Microgrid Market Research Report - Features

    Market Segmentation

    6

    Regions Covered

    4

    Countries/Sub-Regions Covered

    17

    No. of Figures & Tables

    >150

    Company Profiles

    17

     

    The microgrid market is segmented into the following categories.

    Microgrid Market Size, Share, & Forecast, by Connectivity Type:

    • Grid Connected (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
    • Off Grid (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)

    Microgrid Market Size, Share, & Forecast, by Grid Type:

    • AC Microgrid (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
    • DC Microgrid (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
    • Hybrid (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)

    Microgrid Market Size, Share, & Forecast, by Power Source Type:

    • Diesel Generators (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
    • Natural Gas (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
    • Solar PV (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
    • CHP (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
    • Others (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)

    Microgrid Market Size, Share, & Forecast, by Storage Type:

    • Lithium-ion (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
    • Lead Acid (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
    • Flow Battery (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
    • Flywheel (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
    • Others (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)

    Microgrid Market Size, Share, & Forecast, by Application Type:

    • Healthcare (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
    • Educational Institutes (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
    • Military (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
    • Utility (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
    • Industrial/Commercial (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
    • Remote (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
    • Others (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)

    Microgrid Market Size, Share, & Forecast, by Region:

    • North America (Country Analysis: the USA, Canada, and Mexico) 
    • Europe (Country Analysis: Germany, France, the UK, Russia, Spain, and Rest of Europe)
    • Asia-Pacific (Country Analysis: China, Japan, India, South Korea, and Rest of Asia-Pacific)
    • Rest of the World (Sub-Region Analysis: Latin America, the Middle East, and Others)

    Key Players

    Some of the key players in the microgrid market are-

    • Eaton
    • Siemens
    • GE
    • Caterpillar
    • Schneider Electric
    • HOMER Energy
    • Honeywell International
    • Toshiba Corporation
    • AMS
    • S&C Electric
    • Tesla
    • Hitachi ABB Power Grids
    • Spirae
    • General Microgrids
    • Lockheed Martin Corporation
    • Heila Technologies
    • Exelon Corporation.

    Research Methodology

    This report offers high-quality insights and is the outcome of detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders and validation and triangulation with Stratview Research’s internal database and statistical tools. More than 1,000 authenticated secondary sources, such as company annual reports, fact book, press release, journals, investor presentation, white papers, patents, and articles have been leveraged to gather the data. We conducted more than 10 detailed primary interviews with the market players across the value chain in all four regions and with industry experts to obtain both the qualitative and quantitative insights.

    Report Features

    This report provides market intelligence in the most comprehensive way. The report structure has been kept such that it offers maximum business value. It provides critical insights into the market dynamics and will enable strategic decision making for the existing market players as well as those willing to enter the market. The following are the key features of the report:

    • Market structure: Overview, industry life cycle analysis, supply chain analysis
    • Market environment analysis: Growth drivers and constraints, Porter’s five forces analysis, SWOT analysis
    • Market trend and forecast analysis
    • Market segment trend and forecast
    • Competitive landscape and dynamics: Market share, product portfolio, product launches, etc.
    • Attractive market segments and associated growth opportunities
    • Emerging trends
    • Strategic growth opportunities for the existing and new players
    • Key success factors

    Report Customization Options

    With this detailed report, Stratview Research offers one of the following free customization options to our respectable clients:

    Company Profiling

    • Detailed profiling of additional market players (up to 3 players)
    • SWOT analysis of key players (up to 3 players)

    Market Segmentation

    • Current market segmentation by any one of the grid types by application type.  

    Competitive Benchmarking

    • Benchmarking of key players on the following parameters: Product portfolio, geographical reach, regional presence, and strategic alliances

    Custom Research: Stratview Research offers custom research services across sectors. In case of any custom research requirement related to market assessment, competitive benchmarking, sourcing and procurement, target screening, and others, please send your inquiry at sales@stratviewresearch.com.

    Frequently Asked Questions (FAQs)

    The microgrid market is expected to witness an impressive growth of 26.5% CAGR in the foreseeable future.

    Eaton, Siemens, GE, Caterpillar, Schneider Electric, HOMER Energy, Honeywell International, Toshiba Corporation, AMS, S&C Electric, Tesla, Hitachi ABB Power Grids, Spirae, General Microgrids, Lockheed Martin Corporation, Heila Technologies and Exelon Corporation are among the key players in the microgrid market.

    The grid connected segment is expected to witness significant growth rate in the microgrid market in the coming years.

    AC microgrid type is expected to register high growth rate in the microgrid market during the next five years.

    The industrial/commercial application is expected to account for the major share in the microgrid market during the coming five years.

    Asia-pacific is expected to be the leading microgrid market during the forecast period.

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