Microgrid Market
Description
Microgrid Market
Growth Factors of Microgrid Market
The Microgrid Market size was valued at USD 9.88 billion in 2023 and is projected to grow from USD 11.24 billion in 2024 to USD 37.35 billion by 2032, exhibiting a CAGR of 16.19% during the forecast period of 2024-2032.
The COVID-19 pandemic impacted the microgrid market thru disrupting international deliver chains, delaying assignment deployments, and inflicting monetary uncertainty, which slowed investments. However, the call for for dependable and resilient strength structures accelerated as agencies and companies sought to lessen their dependence on centralized grids which may be vulnerable to disruptions. Post-pandemic, governments and institutions prioritized decentralized power answers, leading to a resurgence in microgrid development.
A vast fashion inside the microgrid market is the integration of advanced energy storage technologies. This allows microgrids to keep excess renewable power, ensuring dependable power even if the primary electricity supply fluctuates. This innovation boosts microgrid efficiency, making them extra attractive for adoption in faraway regions and crucial facilities.
One riding issue inside the growth of the microgrid market is the growing demand for renewable electricity sources. Governments worldwide are implementing rules to lessen carbon emissions, pushing the adoption of inexperienced power answers. Microgrids, able to incorporating renewable resources like solar and wind, are emerging as a key generation for accomplishing sustainability dreams even as providing energy protection.
Comprehensive Analysis of Microgrid Market
The Microgrid Market growth is rising at an exponential rate due to its marketplace segmentation. This market expansion correctly affords a detailed local assessments thinking about the dominant supply and call for forces that effect the enterprise. These segmentations are methodically segregated by capacity, by power, by application. By Capacity include Less than 5 MW ,5 MW -10 MW, 10 MW- 20 MW, 20 MW -50 MW, Above 50 MW .By Power Source include Diesel Generators ,Natural Gas, Solar PV, CHP ,Others. By Application include Educational Institutes, Remote Areas, Military ,Utility Distribution, Commercial & Industrial ,Others.
The Asia Pacific region lead the DNA Synthesis market share by benefitting a market size of USD 4.34 billion There is a high demand for robust and continuous network connectivity to provide seamless support to large enterprises, facilitating the outlook for the Asia Pacific microgrid market share. .
The top players in the market play a crucial role in the industry assuring market growth and setting market standards. These players include, Google LLC (Alphabet, Inc.), Magic Leap, Inc., ReWalk Robotics, SAMSUNG, B-Temia, Panasonic Holdings Corporation, NVIDIA Corporation, Microsoft, Ekso Bionics, Vuzix,these market players provide a level-playing competitive landscape.
March 2023, ABB entered a strategic partnership with Direct Energy Partners (DEP), a begin-up the usage of digital era to boost up the adoption of Direct Current (DC) microgrids. The partnership worried a minority funding in Direct Energy Partners thru ABB’s project capital unit, ABB Technology Ventures (ATV).
Segmentation Table
Study Period 2019-2032
Base Year 2023
Estimated Year 2024
Forecast Period 2024-2032
Historical Period 2019-2022
Growth Rate CAGR of 16.19% from 2024 to 2032
Unit Value (USD Billion)
Segmentation By Capacity
Less than 5 MW
5 MW -10 MW
10 MW- 20 MW
20 MW -50 MW
Above 50 MW
By Power Source
Diesel Generators
Natural Gas
Solar PV
CHP
Others
By Application
Educational Institutes
Remote Areas
Military
Utility Distribution
Commercial & Industrial
Others
By Geography
North America (By Capacity, Power Source, Application, Country)
- U.S. (By Application)
- Canada (By Application)
- Germany (By Application)
- France (By Application)
- U.K. (By Application)
- Italy (By Application)
- Spain (By Application)
- Rest of Europe (By Application)
- China (By Application)
- India (By Application)
- Japan (By Application)
- Australia (By Application)
- Southeast Asia (By Application)
- Rest of Asia Pacific (By Application)
- Brazil (By Application)
- Mexico (By Application)
- Rest of Latin America (By Application)
GCC (By Application)
South Africa (By Application)
Rest of Middle East & Africa (By Application)
Table of Contents
266 Pages
- 1. Introduction
- 1.1. Research Scope
- 1.2. Market Segmentation
- 1.3. Research Methodology
- 1.4. Definitions and Assumptions
- 2. Executive Summary
- 3. Market Dynamics
- 3.1. Market Drivers
- 3.2. Market Restraints
- 3.3. Market Opportunities
- 4. Key Insights
- 4.1. Key Emerging Trends – For Major Countries
- 4.2. Latest Technological Advancement
- 4.3. Regulatory Landscape
- 4.4. Porters Five Forces Analysis
- 4.5. Impact of COVID-19 on the Microgrid Market
- 5. Global Microgrid Market Analysis (USD Billion), Insights and Forecast, 2019-2032
- 5.1. Key Findings / Summary
- 5.2. Market Analysis, Insights and Forecast – By Capacity
- 5.2.1. Less than 5 MW
- 5.2.2. 5 MW -10 MW
- 5.2.3. 10 MW- 20 MW
- 5.2.4. 20 MW -50 MW
- 5.2.5. Above 50 MW
- 5.3. Market Analysis, Insights and Forecast – By Power Source
- 5.3.1. Diesel Generator
- 5.3.2. Natural Gas
- 5.3.3. Solar PV
- 5.3.4. CHP
- 5.3.5. Others
- 5.4. Market Analysis, Insights and Forecast – By Application
- 5.4.1. Educational Institutes
- 5.4.2. Remote Areas
- 5.4.3. Military
- 5.4.4. Utility Distribution
- 5.4.5. Commercial & Industrial
- 5.4.6. Others
- 5.5. Market Analysis, Insights and Forecast – By Region
- 5.5.1. North America
- 5.5.2. Europe
- 5.5.3. Asia Pacific
- 5.5.4. Latin America
- 5.5.5. Middle East & Africa
- 6. North America Microgrid Market Analysis (USD Billion), Insights and Forecast, 2019-2032
- 6.1. Key Findings / Summary
- 6.2. Market Analysis, Insights and Forecast – By Capacity
- 6.2.1. Less than 5 MW
- 6.2.2. 5 MW -10 MW
- 6.2.3. 10 MW- 20 MW
- 6.2.4. 20 MW -50 MW
- 6.2.5. Above 50 MW
- 6.3. Market Analysis, Insights and Forecast – By Power Source
- 6.3.1. Diesel Generator
- 6.3.2. Natural Gas
- 6.3.3. Solar PV
- 6.3.4. CHP
- 6.3.5. Others
- 6.4. Market Analysis, Insights and Forecast – By Application
- 6.4.1. Educational Institutes
- 6.4.2. Remote Areas
- 6.4.3. Military
- 6.4.4. Utility Distribution
- 6.4.5. Commercial & Industrial
- 6.4.6. Others
- 6.5. Market Analysis, Insights and Forecast – By Country
- 6.5.1. U.S. Market Analysis, Insights and Forecast – By Application
- 6.5.1.1. Educational Institutes
- 6.5.1.2. Remote Areas
- 6.5.1.3. Military
- 6.5.1.4. Utility Distribution
- 6.5.1.5. Commercial & Industrial
- 6.5.1.6. Others
- 6.5.2. Canada Market Analysis, Insights and Forecast – By Application
- 6.5.2.1. Educational Institutes
- 6.5.2.2. Remote Areas
- 6.5.2.3. Military
- 6.5.2.4. Utility Distribution
- 6.5.2.5. Commercial & Industrial
- 6.5.2.6. Others
- 7. Europe Microgrid Market Analysis (USD Billion), Insights and Forecast, 2019-2032
- 7.1. Key Findings / Summary
- 7.2. Market Analysis, Insights and Forecast – By Capacity
- 7.2.1. Less than 5 MW
- 7.2.2. 5 MW -10 MW
- 7.2.3. 10 MW- 20 MW
- 7.2.4. 20 MW -50 MW
- 7.2.5. Above 50 MW
- 7.3. Market Analysis, Insights and Forecast – By Power Source
- 7.3.1. Diesel Generator
- 7.3.2. Natural Gas
- 7.3.3. Solar PV
- 7.3.4. CHP
- 7.3.5. Others
- 7.4. Market Analysis, Insights and Forecast – By Application
- 7.4.1. Educational Institutes
- 7.4.2. Remote Areas
- 7.4.3. Military
- 7.4.4. Utility Distribution
- 7.4.5. Commercial & Industrial
- 7.4.6. Others
- 7.5. Market Analysis, Insights and Forecast – By Country
- 7.5.1. UK Market Analysis, Insights and Forecast – By Application
- 7.5.1.1. Educational Institutes
- 7.5.1.2. Remote Areas
- 7.5.1.3. Military
- 7.5.1.4. Utility Distribution
- 7.5.1.5. Commercial & Industrial
- 7.5.1.6. Others
- 7.5.2. Germany Market Analysis, Insights and Forecast – By Application
- 7.5.2.1. Educational Institutes
- 7.5.2.2. Remote Areas
- 7.5.2.3. Military
- 7.5.2.4. Utility Distribution
- 7.5.2.5. Commercial & Industrial
- 7.5.2.6. Others
- 7.5.3. France Market Analysis, Insights and Forecast – By Application
- 7.5.3.1. Educational Institutes
- 7.5.3.2. Remote Areas
- 7.5.3.3. Military
- 7.5.3.4. Utility Distribution
- 7.5.3.5. Commercial & Industrial
- 7.5.3.6. Others
- 7.5.4. Italy Market Analysis, Insights and Forecast – By Application
- 7.5.4.1. Educational Institutes
- 7.5.4.2. Remote Areas
- 7.5.4.3. Military
- 7.5.4.4. Utility Distribution
- 7.5.4.5. Commercial & Industrial
- 7.5.4.6. Others
- 7.5.5. Spain Market Analysis, Insights and Forecast – By Application
- 7.5.5.1. Educational Institutes
- 7.5.5.2. Remote Areas
- 7.5.5.3. Military
- 7.5.5.4. Utility Distribution
- 7.5.5.5. Commercial & Industrial
- 7.5.5.6. Others
- 7.5.6. Rest of Europe Market Analysis, Insights and Forecast – By Application
- 7.5.6.1. Educational Institutes
- 7.5.6.2. Remote Areas
- 7.5.6.3. Military
- 7.5.6.4. Utility Distribution
- 7.5.6.5. Commercial & Industrial
- 7.5.6.6. Others
- 8. Asia Pacific Microgrid Market Analysis (USD Billion), Insights and Forecast, 2019-2032
- 8.1. Key Findings / Summary
- 8.2. Market Analysis, Insights and Forecast – By Capacity
- 8.2.1. Less than 5 MW
- 8.2.2. 5 MW -10 MW
- 8.2.3. 10 MW- 20 MW
- 8.2.4. 20 MW -50 MW
- 8.2.5. Above 50 MW
- 8.3. Market Analysis, Insights and Forecast – By Power Source
- 8.3.1. Diesel Generator
- 8.3.2. Natural Gas
- 8.3.3. Solar PV
- 8.3.4. CHP
- 8.3.5. Others
- 8.4. Market Analysis, Insights and Forecast – By Application
- 8.4.1. Educational Institutes
- 8.4.2. Remote Areas
- 8.4.3. Military
- 8.4.4. Utility Distribution
- 8.4.5. Commercial & Industrial
- 8.4.6. Others
- 8.5. Market Analysis, Insights and Forecast – By Country
- 8.5.1. China Market Analysis, Insights and Forecast – By Application
- 8.5.1.1. Educational Institutes
- 8.5.1.2. Remote Areas
- 8.5.1.3. Military
- 8.5.1.4. Utility Distribution
- 8.5.1.5. Commercial & Industrial
- 8.5.1.6. Others
- 8.5.2. India Market Analysis, Insights and Forecast – By Application
- 8.5.2.1. Educational Institutes
- 8.5.2.2. Remote Areas
- 8.5.2.3. Military
- 8.5.2.4. Utility Distribution
- 8.5.2.5. Commercial & Industrial
- 8.5.2.6. Others
- 8.5.3. Japan Market Analysis, Insights and Forecast – By Application
- 8.5.3.1. Educational Institutes
- 8.5.3.2. Remote Areas
- 8.5.3.3. Military
- 8.5.3.4. Utility Distribution
- 8.5.3.5. Commercial & Industrial
- 8.5.3.6. Others
- 8.5.4. Australia Market Analysis, Insights and Forecast – By Application
- 8.5.4.1. Educational Institutes
- 8.5.4.2. Remote Areas
- 8.5.4.3. Military
- 8.5.4.4. Utility Distribution
- 8.5.4.5. Commercial & Industrial
- 8.5.4.6. Others
- 8.5.5. Southeast Asia Market Analysis, Insights and Forecast – By Application
- 8.5.5.1. Educational Institutes
- 8.5.5.2. Remote Areas
- 8.5.5.3. Military
- 8.5.5.4. Utility Distribution
- 8.5.5.5. Commercial & Industrial
- 8.5.5.6. Others
- 8.5.6. Rest of Asia Pacific Market Analysis, Insights and Forecast – By Application
- 8.5.6.1. Educational Institutes
- 8.5.6.2. Remote Areas
- 8.5.6.3. Military
- 8.5.6.4. Utility Distribution
- 8.5.6.5. Commercial & Industrial
- 8.5.6.6. Others
- 9. Latin America Microgrid Market Analysis (USD Billion), Insights and Forecast, 2019-2032
- 9.1. Key Findings / Summary
- 9.2. Market Analysis, Insights and Forecast – By Capacity
- 9.2.1. Less than 5 MW
- 9.2.2. 5 MW -10 MW
- 9.2.3. 10 MW- 20 MW
- 9.2.4. 20 MW -50 MW
- 9.2.5. Above 50 MW
- 9.3. Market Analysis, Insights and Forecast – By Power Source
- 9.3.1. Diesel Generator
- 9.3.2. Natural Gas
- 9.3.3. Solar PV
- 9.3.4. CHP
- 9.3.5. Others
- 9.4. Market Analysis, Insights and Forecast – By Application
- 9.4.1. Educational Institutes
- 9.4.2. Remote Areas
- 9.4.3. Military
- 9.4.4. Utility Distribution
- 9.4.5. Commercial & Industrial
- 9.4.6. Others
- 9.5. Market Analysis, Insights and Forecast – By Country
- 9.5.1. Brazil Market Analysis, Insights and Forecast – By Application
- 9.5.1.1. Educational Institutes
- 9.5.1.2. Remote Areas
- 9.5.1.3. Military
- 9.5.1.4. Utility Distribution
- 9.5.1.5. Commercial & Industrial
- 9.5.1.6. Others
- 9.5.2. Mexico Market Analysis, Insights and Forecast – By Application
- 9.5.2.1. Educational Institutes
- 9.5.2.2. Remote Areas
- 9.5.2.3. Military
- 9.5.2.4. Utility Distribution
- 9.5.2.5. Commercial & Industrial
- 9.5.2.6. Others
- 9.5.3. Rest of Latin America Market Analysis, Insights and Forecast – By Application
- 9.5.3.1. Educational Institutes
- 9.5.3.2. Remote Areas
- 9.5.3.3. Military
- 9.5.3.4. Utility Distribution
- 9.5.3.5. Commercial & Industrial
- 9.5.3.6. Others
- 10. Middle East & Africa Microgrid Market Analysis (USD Billion), Insights and Forecast, 2019-2032
- 10.1. Key Findings / Summary
- 10.2. Market Analysis, Insights and Forecast – By Capacity
- 10.2.1. Less than 5 MW
- 10.2.2. 5 MW -10 MW
- 10.2.3. 10 MW- 20 MW
- 10.2.4. 20 MW -50 MW
- 10.2.5. Above 50 MW
- 10.3. Market Analysis, Insights and Forecast – By Power Source
- 10.3.1. Diesel Generator
- 10.3.2. Natural Gas
- 10.3.3. Solar PV
- 10.3.4. CHP
- 10.3.5. Others
- 10.4. Market Analysis, Insights and Forecast – By Application
- 10.4.1. Educational Institutes
- 10.4.2. Remote Areas
- 10.4.3. Military
- 10.4.4. Utility Distribution
- 10.4.5. Commercial & Industrial
- 10.4.6. Others
- 10.5. Market Analysis, Insights and Forecast – By Country
- 10.5.1. GCC Market Analysis, Insights and Forecast – By Application
- 10.5.1.1. Educational Institutes
- 10.5.1.2. Remote Areas
- 10.5.1.3. Military
- 10.5.1.4. Utility Distribution
- 10.5.1.5. Commercial & Industrial
- 10.5.1.6. Others
- 10.5.2. South Africa Market Analysis, Insights and Forecast – By Application
- 10.5.2.1. Educational Institutes
- 10.5.2.2. Remote Areas
- 10.5.2.3. Military
- 10.5.2.4. Utility Distribution
- 10.5.2.5. Commercial & Industrial
- 10.5.2.6. Others
- 10.5.3. Rest of Middle East & Africa Market Analysis, Insights and Forecast – By Application
- 10.5.3.1. Educational Institutes
- 10.5.3.2. Remote Areas
- 10.5.3.3. Military
- 10.5.3.4. Utility Distribution
- 10.5.3.5. Commercial & Industrial
- 10.5.3.6. Others
- 11. Competitive Analysis
- 11.1. Company Market Share Analysis, 2023
- 11.2. Company Profile
- 11.2.1. ABB
- 11.2.1.1. Business Overview
- 11.2.1.2. Product & Service Offering
- 11.2.1.3. Overall Revenue
- 11.2.1.4. Recent Development
- 11.2.2. Eaton Corp
- 11.2.2.1. Business Overview
- 11.2.2.2. Product & Service Offering
- 11.2.2.3. Overall Revenue
- 11.2.2.4. Recent Development
- 11.2.3. Honeywell
- 11.2.3.1. Business Overview
- 11.2.3.2. Product & Service Offering
- 11.2.3.3. Overall Revenue
- 11.2.3.4. Recent Development
- 11.2.4. Schneider Electric
- 11.2.4.1. Business Overview
- 11.2.4.2. Product & Service Offering
- 11.2.4.3. Overall Revenue
- 11.2.4.4. Recent Development
- 11.2.5. Siemens
- 11.2.5.1. Business Overview
- 11.2.5.2. Product & Service Offering
- 11.2.5.3. Overall Revenue
- 11.2.5.4. Recent Development
- 11.2.6. Spirae
- 11.2.6.1. Business Overview
- 11.2.6.2. Product & Service Offering
- 11.2.6.3. Overall Revenue
- 11.2.6.4. Recent Development
- 11.2.7. Power Analytics
- 11.2.7.1. Business Overview
- 11.2.7.2. Product & Service Offering
- 11.2.7.3. Overall Revenue
- 11.2.7.4. Recent Development
- 11.2.8. Toshiba Corporation
- 11.2.8.1. Business Overview
- 11.2.8.2. Product & Service Offering
- 11.2.8.3. Overall Revenue
- 11.2.8.4. Recent Development
- 11.2.9. GE
- 11.2.9.1. Business Overview
- 11.2.9.2. Product & Service Offering
- 11.2.9.3. Overall Revenue
- 11.2.9.4. Recent Development
- 11.2.10. S&C Electric
- 11.2.10.1. Business Overview
- 11.2.10.2. Product & Service Offering
- 11.2.10.3. Overall Revenue
- 11.2.10.4. Recent Development
- 11.2.11. HOMER Energy
- 11.2.11.1. Business Overview
- 11.2.11.2. Product & Service Offering
- 11.2.11.3. Overall Revenue
- 11.2.11.4. Recent Development
- 11.2.12. Caterpillar
- 11.2.12.1. Business Overview
- 11.2.12.2. Product & Service Offering
- 11.2.12.3. Overall Revenue
- 11.2.12.4. Recent Development
Pricing
Currency Rates
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