Microgrid Market Size – USD 28.80 billion in 2019, Market Growth – CAGR of 10.5%, Market Trends – Increasing investments in the research & development of microgrid infrastructure
The Microgrid Market report covers the market dynamics analysis, company profiles, production and manufacturing capacity, Effect specifications, result value, and key contender. The report also offers an insight into the growth prospects during the forecast period to help Lead companies and new entrants capitalize on lucrative opportunities and gain a robust footing in the market.
The commercial and the industrial sector are increasingly adopting microgrid technology in order to reduce the emission levels and avail a reliable and uninterrupted supply of electricity in remote areas. The declining cost of renewable energy sources is also a contributing factor to the increasing demand of the microgrid facility. The microgrid is also used in the defense services and research labs to have a secure network from independent external power stations and reduce the risks of cyber-attacks.
The global Microgrid Market will be worth USD 61.18 Billion by 2027, according to a current analysis by Emergen Research.
Rising interest in renewable and sustainable energy resources and systems are some key factors driving revenue growth of the global Microgrid market.
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Scrutinize Ground Plan
Asia Pacific revenue registered fastest revenue growth rate in 2020, driven by rapid urbanization and rising purchasing power among consumers in countries in the region, and increasing shift in preference for more eco-friendly energy-driven vehicles.
Apace with offering an in-depth anatomization of the recent events that took place in the Microgrid industry, such as technological upgradation and new product launches, the report lays stress on the consequences of these events on the market. The market intelligence report talks about the market size, share, value, and production cost analysis over the forecast period 2020-2027.
North America accounted for the largest market share of the microgrid market in 2019 due to the favorable government policies, including tax rebates and other promotional schemes on adopting microgrid infrastructure.
Regional analysis covers the following key geographies of the world:
North America, Europe, Asia Pacific, Latin America, Middle East & Africa
Key Market Dynamics
The global Microgrid market research report details on the ongoing market trends, development outlines, and several research methodologies. It illustrates the key factors that directly manipulate the market, for instance, production strategies, development platforms, and product portfolio. According to our researchers, even minor changes within the product profiles could result in huge disruptions to the above-mentioned factors. Each of these factors has been elaborately discussed in the initial segment of the study.
This Report also covers the emerging player’s data, including: competitive situation, sales, revenue and global market share of top manufacturers such as:
The research Microgrid report also offers a detailed analysis of the market status, market definition and overview, market share, current and future trends, market drivers and constraints, opportunities and limitations, risks, sales network and distribution channels, details on entry barriers, and market growth prospects. It provides an extensive analysis of the key players operating in the global Microgrid market.
Key participants include Siemens, Honeywell, General Electric (GE), ABB, Schneider Electric, Eaton, Exelon Corporation, Spirae, Inc., S & C Electric Company, and Homer Energy, among others.
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Pointer culmination in the Report
- Honeywell and NRStor C&I Launch the largest Behind-the-Meter Battery Energy storage Program in the world.
- Combined heat & power (CHP) held the largest market share of 34.0% in the year 2019 due to the increasing adoption of sustainable sources of power generation, including hydro, solar, and wind energy.
- The grid-connected segment is forecasted to grow with the fastest CAGR of 10.6% over the forecast period. Reliable power supply, improved resiliency & efficiency, low cost of energy storage, and reduction in the emission level are some of the driving factors of the segment.
- The education segment accounted for the largest market share of the microgrid market in 2019 due to the government’s increased funding towards the enhancement of the education infrastructure in the developing economies.
Emergen Research has published a research report on global Microgrid market covering current market dynamics with market developments from 2020 to 2027. The report offers an in-depth analysis of historical and emerging trends in the market along with emerging trends, revenue growth, market size, drivers, restraints, challenges, limitations and opportunities The main aim of the report is to help the user, reader, investor understand the exact market scenario.
The Global Microgrid Market segments and Market Data Break Down are illuminated below:
The lithium-ion segment revenue is expected to expand at rapid CAGR of 39.5% during the forecast period. The high energy density, good high-temperature performance, excellent specific energy, and low self-discharge rate of lithium-ion batteries are properties driving revenue growth of the lithium-ion batteries segment. The battery electric vehicle segment accounted for largest revenue share among the electric vehicle type segments in the Microgrid market in 2020.
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Emergen Research has segmented the global Microgrid Market on the basis of Power, Product, Application, and region:
- Power Outlook (Revenue, USD Billion; 2017-2027)
- Combined heat & power (CHP)
- Solar Photovoltaic (PV)
- Natural Gas
- Fuel Cell
- Product Outlook (Revenue, USD Billion; 2017-2027)
- Application Outlook (Revenue, USD Billion; 2017-2027)
Why to choose Emergen Research??
- Regional Demand Forecasts and Forecasts
- Product price volatility
- Technology update analysis
- Location index analysis
- Raw material procurement strategy
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