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South Korea Microgrid Market Size, Share, Trends, Industry Analysis Report By Power Source (Natural Gas, CHP, Solar PV, Diesel, Fuel Cell, Others), By Product, Application– Market Forecast, 2025–2034

Publisher Polaris Market Research & Consulting LLP
Published Aug 01, 2025
Length 129 Pages
SKU # PLRS20381459

Description

The South Korea microgrid market size is expected to reach USD 10.4 billion by 2034, according to a new study by Polaris Market Research. The report “South Korea Microgrid Market Size, Share, Trends, Industry Analysis Report By Power Source (Natural Gas, CHP, Solar PV, Diesel, Fuel Cell, Others), By Product, Application – Market Forecast, 2025–2034” gives a detailed insight into current market dynamics and provides analysis on future market growth.

A microgrid is a localized energy system that can operate independently or in coordination with the main power grid. It includes distributed energy resources such as solar panels, batteries, generators, and control systems to produce, store, and manage electricity.

South Korea places a high priority on urban energy resilience with frequent climate-related risks such as typhoons and power disruptions. Microgrids play a crucial role in maintaining power supply during grid failures, ensuring that critical services such as hospitals, transportation, and emergency systems remain functional. In major cities such as Seoul and Busan, microgrid projects are being deployed to strengthen local infrastructure and reduce reliance on centralized power. This emphasis on disaster preparedness and continuity of service is significantly driving microgrid investments in urban and metropolitan areas across the country, thereby driving the growth.

The South Korean government has implemented strong policies and incentives to promote microgrid development, especially in remote and island areas. Through the “Energy Transition Roadmap” and the “Smart Grid Master Plan,” the country is prioritizing decentralized energy systems to improve energy independence and sustainability. Support from the Ministry of Trade, Industry and Energy (MOTIE) includes grants, tax benefits, and pilot projects, making it easier for public and private entities to invest in microgrid solutions. These favorable policies are driving new deployments and encouraging innovation in energy storage and smart grid integration across South Korea, thereby driving the market growth.

South Korea Microgrid Market Report Highlights

In 2024, the CHP segment dominated with the largest share due to the country’s emphasis on energy efficiency and reducing carbon emissions

The remote segment is expected to experience the fastest growth during the forecast period as remote systems provide a self-sufficient and resilient solution as the country works to ensure reliable power for isolated or infrastructure-limited regions.

A few key market players are ABB, Eaton Corp., EIPGRID Inc., General Electric, Honeywell International, Hyundai Energy Solution, MTU (Rolls-Royce plc), Schneider Electric, Siemens AG, and TurnOnGreen Inc.

Polaris Market Research has segmented the South Korea microgrid market report based on power source, product, and application:

By Power Source (Revenue – USD Billion, 2020–2034)

Natural Gas

CHP

Solar PV

Diesel

Fuel Cell

Others

By Product (Revenue – USD Billion, 2020–2034)

Remote

Grid Connected

Hybrid

By Application (Revenue – USD Billion, 2020–2034)

Government

Education

Commercial

Utility

Defense

Others

Table of Contents

129 Pages
1. Introduction
1.1. Report Description
1.1.1. Objectives of the Study
1.1.2. Market Scope
1.1.3. Assumptions
1.2. Stakeholders
2. Executive Summary
2.1. Market Highlights
3. Research Methodology
3.1. Overview
3.1.1. Data Mining
3.2. Data Sources
3.2.1. Primary Sources
3.2.2. Secondary Sources
4. South Korea Microgrid Market Insights
4.1. South Korea Microgrid Market – Market Snapshot
4.2. South Korea Microgrid Market Dynamics
4.2.1. Drivers and Opportunities
4.2.1.1. Industrial and Commercial Sector Demand
4.2.1.2. Smart City and Digital Infrastructure Initiatives
4.2.2. Restraints and Challenges
4.2.2.1. High Initial Investment
4.3. Porter’s Five Forces Analysis
4.3.1. Bargaining Power of Suppliers (Moderate)
4.3.2. Threats of New Entrants: (Low)
4.3.3. Bargaining Power of Buyers (Moderate)
4.3.4. Threat of Substitute (Moderate)
4.3.5. Rivalry among existing firms (High)
4.4. PESTEL Analysis
4.5. South Korea Microgrid Market Trends
4.6. Value Chain Analysis
5. South Korea Microgrid Market, by Power Source
5.1. Key Findings
5.2. Introduction
5.2.1. South Korea Microgrid Market, by Power Source, 2020-2034 (USD billion)
5.3. Natural Gas
5.3.1. South Korea Microgrid Market, by Natural Gas, 2020-2034 (USD billion)
5.4. CHP
5.4.1. South Korea Microgrid Market, by CHP, 2020-2034 (USD billion)
5.5. Solar PV
5.5.1. South Korea Microgrid Market, by Solar PV, 2020-2034 (USD billion)
5.6. Diesel
5.6.1. South Korea Microgrid Market, by Diesel, 2020-2034 (USD billion)
5.7. Fuel Cell
5.7.1. South Korea Microgrid Market, by Fuel Cell, 2020-2034 (USD billion)
5.8. Others
5.8.1. South Korea Microgrid Market, by Others, 2020-2034 (USD billion)
6. South Korea Microgrid Market, by Product
6.1. Key Findings
6.2. Introduction
6.2.1. South Korea Microgrid Market, by Product, 2020-2034 (USD billion)
6.3. Remote
6.3.1. South Korea Microgrid Market, by Remote 2020-2034 (USD billion)
6.4. Grid Connected
6.4.1. South Korea Microgrid Market, by Grid Connected, 2020-2034 (USD billion)
6.5. Hybrid
6.5.1. South Korea Microgrid Market, by Hybrid, 2020-2034 (USD billion)
7. South Korea Microgrid Market, by Application
7.1. Key Findings
7.2. Introduction
7.2.1. South Korea Microgrid Market, by Application, 2020-2034 (USD billion)
7.3. Government
7.3.1. South Korea Microgrid Market, by Government, 2020-2034 (USD billion)
7.4. Education
7.4.1. South Korea Microgrid Market, by Education, 2020-2034 (USD billion)
7.5. Commercial
7.5.1. South Korea Microgrid Market, by Commercial, 2020-2034 (USD billion)
7.6. Utility
7.6.1. South Korea Microgrid Market, by Utility, 2020-2034 (USD billion)
7.7. Defense
7.7.1. South Korea Microgrid Market, by Defense, 2020-2034 (USD billion)
7.8. Others
7.8.1. South Korea Microgrid Market, by Others, 2020-2034 (USD billion)
8. Competitive Landscape
8.1. Expansion and Acquisition Analysis
8.1.1. Expansion
8.1.2. Acquisitions
8.2. Partnerships/Collaborations/Agreements/Exhibitions
9. Company Profiles
9.1. ABB
9.1.1. Company Overview
9.1.2. Financial Performance
9.1.3. Product Benchmarking
9.1.4. Recent Development
9.2. Eaton Corp.
9.2.1. Company Overview
9.2.2. Financial Performance
9.2.3. Product Benchmarking
9.2.4. Recent Development
9.3. General Electric
9.3.1. Company Overview
9.3.2. Financial Performance
9.3.3. Product Benchmarking
9.3.4. Recent Development
9.4. Honeywell International
9.4.1. Company Overview
9.4.2. Financial Performance
9.4.3. Product Benchmarking
9.4.4. Recent Development
9.5. Hyundai Energy Solution
9.5.1. Company Overview
9.5.2. Financial Performance
9.5.3. Product Benchmarking
9.5.4. Recent Development
9.6. MTU (Rolls-Royce plc)
9.6.1. Company Overview
9.6.2. Financial Performance
9.6.3. Product Benchmarking
9.6.4. Recent Development
9.7. Schneider Electric
9.7.1. Company Overview
9.7.2. Financial Performance
9.7.3. Product Benchmarking
9.7.4. Recent Development
9.8. Siemens AG
9.8.1. Company Overview
9.8.2. Financial Performance
9.8.3. Product Benchmarking
9.8.4. Recent Development
9.9. TurnOnGreen Inc.
9.9.1. Company Overview
9.9.2. Financial Performance
9.9.3. Product Benchmarking
9.9.4. Recent Development
9.10. EIPGRID Inc.
9.10.1. Company Overview
9.10.2. Financial Performance
9.10.3. Product Benchmarking
9.10.4. Recent Development

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