Asia-pacific Microgrid Market Forecast 2022-2030
Description
Asia-pacific Microgrid Market Forecast 2022-2030
KEY FINDINGS
The Asia-Pacific microgrid market is projected to grow with a CAGR of 11.32% during the forecasting years, 2022 to 2030. Some of the major aspects propelling the regional market’s growth are extreme weather events like typhoons and hurricanes, the shortage of a reliable utility grid infrastructure, and low electrification rates.
MARKET INSIGHTS
The Asia-Pacific microgrid market growth assessment encompasses the evaluation of China, India, Indonesia, South Korea, Australia & New Zealand, Thailand, Vietnam, Japan, and Rest of Asia-Pacific. India has installed solar microgrids with the potential to produce around 2 MW of electricity. Through the distribution of energy to remote Tier 2 as well as Tier 3 locations, microgrids can also boost the Indian economy by fostering the expansion of small and medium-sized businesses. Aligning with this, the installation of solar microgrids in Ladakh’s remote Himalayan regions in less than two years has significantly augmented tourism earnings by approximately $24,000 annually.
On the other hand, in South Korea, numerous microgrid enterprises are presently being developed by the local government, private businesses, utilities, as well as people utilizing advanced business models based on utility regulations and government policies. Furthermore, as part of its commitment to the 2015 Paris Climate Change Agreement, the nation’s government also aims to install up to 63.8 GW of renewable energy, accounting for 20% of South Korea’s generation. Therefore, the abovementioned factors are set to play a pivotal role in propelling the microgrid market in the Asia-Pacific during the forecast years.
COMPETITIVE INSIGHTS
Leading players operating in the market are CleanGrid Partners Pte Ltd, Hitachi Ltd, etc.
Our report offerings include:
• Explore key findings of the overall market
• Strategic breakdown of market dynamics (Drivers, Restraints, Opportunities, Challenges)
• Market forecasts for a minimum of 9 years, along with 3 years of historical data for all segments, sub-segments, and regions
• Market Segmentation caters to a thorough assessment of key segments with their market estimations
• Geographical Analysis: Assessments of the mentioned regions and country-level segments with their market share
• Key analytics: Porter’s Five Forces Analysis, Vendor Landscape, Opportunity Matrix, Key Buying Criteria, etc.
• The competitive landscape is the theoretical explanation of the key companies based on factors, market share, etc.
• Company profiling: A detailed company overview, product/services offered, SCOT analysis, and recent strategic developments
KEY FINDINGS
The Asia-Pacific microgrid market is projected to grow with a CAGR of 11.32% during the forecasting years, 2022 to 2030. Some of the major aspects propelling the regional market’s growth are extreme weather events like typhoons and hurricanes, the shortage of a reliable utility grid infrastructure, and low electrification rates.
MARKET INSIGHTS
The Asia-Pacific microgrid market growth assessment encompasses the evaluation of China, India, Indonesia, South Korea, Australia & New Zealand, Thailand, Vietnam, Japan, and Rest of Asia-Pacific. India has installed solar microgrids with the potential to produce around 2 MW of electricity. Through the distribution of energy to remote Tier 2 as well as Tier 3 locations, microgrids can also boost the Indian economy by fostering the expansion of small and medium-sized businesses. Aligning with this, the installation of solar microgrids in Ladakh’s remote Himalayan regions in less than two years has significantly augmented tourism earnings by approximately $24,000 annually.
On the other hand, in South Korea, numerous microgrid enterprises are presently being developed by the local government, private businesses, utilities, as well as people utilizing advanced business models based on utility regulations and government policies. Furthermore, as part of its commitment to the 2015 Paris Climate Change Agreement, the nation’s government also aims to install up to 63.8 GW of renewable energy, accounting for 20% of South Korea’s generation. Therefore, the abovementioned factors are set to play a pivotal role in propelling the microgrid market in the Asia-Pacific during the forecast years.
COMPETITIVE INSIGHTS
Leading players operating in the market are CleanGrid Partners Pte Ltd, Hitachi Ltd, etc.
Our report offerings include:
• Explore key findings of the overall market
• Strategic breakdown of market dynamics (Drivers, Restraints, Opportunities, Challenges)
• Market forecasts for a minimum of 9 years, along with 3 years of historical data for all segments, sub-segments, and regions
• Market Segmentation caters to a thorough assessment of key segments with their market estimations
• Geographical Analysis: Assessments of the mentioned regions and country-level segments with their market share
• Key analytics: Porter’s Five Forces Analysis, Vendor Landscape, Opportunity Matrix, Key Buying Criteria, etc.
• The competitive landscape is the theoretical explanation of the key companies based on factors, market share, etc.
• Company profiling: A detailed company overview, product/services offered, SCOT analysis, and recent strategic developments
Table of Contents
145 Pages
- 1. Research Scope & Methodology
- 1.1. Study Objectives
- 1.2. Scope Of Study
- 1.3. Methodology
- 1.4. Assumptions & Limitations
- 2. Executive Summary
- 2.1. Market Size & Estimates
- 2.2. Market Overview
- 3. Market Dynamics
- 3.1. Key Drivers
- 3.1.1. Increasing Consumption Of Electricity
- 3.1.2. Rise In Clean Energy Integration
- 3.1.3. Mitigation Of Severe Weather Using Microgrids
- 3.2. Key Restraints
- 3.2.1. Expensive Maintenance & Installation Of Microgrids
- 3.2.2. Regulatory Framework Hurdles For Microgrids
- 4. Key Analytics
- 4.1. Impact Of Covid-19 On Microgrid Market
- 4.2. Key Market Trends
- 4.3. Porter’s Five Forces Analysis
- 4.3.1. Buyers Power
- 4.3.2. Suppliers Power
- 4.3.3. Substitution
- 4.3.4. New Entrants
- 4.3.5. Industry Rivalry
- 4.4. Opportunity Matrix
- 4.5. Vendor Landscape
- 4.6. Value Chain Analysis
- 4.7. Key Buying Criteria
- 4.7.1. Cost Efficiency
- 4.7.2. Product Features
- 4.7.3. End-use
- 4.8. Regulatory Framework
- 5. Market By Type
- 5.1. Grid Connected
- 5.2. Off-grid
- 6. Market By Offering
- 6.1. Hardware
- 6.1.1. Power Generators
- 6.1.2. Controllers
- 6.1.3. Energy Storage
- 6.2. Software
- 6.3. Services
- 7. Market By Consumption Pattern
- 7.1. Semi-urban
- 7.2. Urban/Metropolitan
- 7.3. Rural/Island
- 8. Market By End-user
- 8.1. Commercial & Industrial
- 8.2. Healthcare
- 8.3. Education
- 8.4. Military
- 8.5. Government & Utilities
- 8.6. Other End-users
- 9. Geographical Analysis
- 9.1. Asia-pacific
- 9.1.1. Market Estimates & Sizes
- 9.1.2. Key Growth Enablers
- 9.1.3. Key Challenges
- 9.1.4. Key Players
- 9.1.5. Country Analysis
- 9.1.5.1. China
- 9.1.5.2. Japan
- 9.1.5.3. India
- 9.1.5.4. South Korea
- 9.1.5.5. Indonesia
- 9.1.5.6. Thailand
- 9.1.5.7. Vietnam
- 9.1.5.8. Australia & New Zealand
- 9.1.5.9. Rest Of Asia-pacific
- 10. Competitive Landscape
- 10.1. Key Strategic Developments
- 10.1.1. Mergers & Acquisitions
- 10.1.2. Product Launches & Developments
- 10.1.3. Partnerships & Agreements
- 10.1.4. Business Expansions & Divestitures
- 10.2. Company Profiles
- 10.2.1. Bloom Energy
- 10.2.2. Cummins Inc
- 10.2.3. Duke Energy Corporation
- 10.2.4. Eaton Corporation Plc
- 10.2.5. Exelon Corporation
- 10.2.6. Fairbanks Morse
- 10.2.7. Fuelcell Energy Inc
- 10.2.8. General Electric Company
- 10.2.9. Hitachi Ltd
- 10.2.10. National Grid Plc
- 10.2.11. Nrg Energy Inc
- 10.2.12. Power Engineers Incorporated
- 10.2.13. S&C Electric
- 10.2.14. Schneider Electric Se
- 10.2.15. Siemens Ag
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