Microgrid Market Estimated to Witness Growth at a CAGR of 12.10% | Market Dynamics, Potential Growth, Outlook, Forecast, Analysis and Global Industry Demand – 2023

Microgrid Market Estimated to Witness Growth at a CAGR of 12.10% | Market Dynamics, Potential Growth, Outlook, Forecast, Analysis and Global Industry Demand – 2023

“Microgrid Market”
Microgrid Market Research Report: Information by Type (Grid Connected & Off-Grid), Component (Hardware, Software, & Services), Power Source (Natural Gas, Solar PV, Diesel, Fuel Cell), End-Use (Industrial, Healthcare) and Region – Global Forecast till 2023

Microgrid Market Overview

The global Microgrid market is expected to grow at 12.10% CAGR during the forecast period. A microgrid is a local energy grid with some sort of control ability, through which it can disconnect from the traditional grid and operate autonomously, without any support of a centralized grid. A microgrid also consists of interconnected loads and distributed energy resources within clearly defined electrical boundaries that act as a single controllable entity with respect to the main grid. Moreover, the microgrid can function when connected to the main grid as well as when it is not connected to the main grid and act as an electrical island. The major advantages of microgrid are a reduction in harmful emissions resulting from optimal use of renewable resources and energy efficiency programs, field-proven reliability improvement over grid-only interconnections, improved efficiency, and long-term predictable energy cost.   

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Microgrid Market Leading Players Analyzed are:

  • ABB (Switzerland),
  • GE (US),
  • Eaton (Ireland),
  • Schneider Electric (France),
  • Honeywell (US),
  • Exelon Corporation (US),
  • S&C Electric (US),
  • Power Analytics Corporation (US),
  • Siemens (Germany), and
  • Microgrid Energy LLC (US)

Microgrid Market Segmentation:

Global microgrid market has been segmented based on type, component, power source, and end-user.

On the basis of component, hardware sub-segment is expected to be the largest sub-segment within the microgrid market.

On the basis of type, the market has been segmented as grid connected & off-grid.

Based on power source, the industry has been segmented as natural gas, solar PV, diesel, fuel cell.

By End-Use, the market has been segmented as industrial, healthcare.

Based on region, the global microgrid market cover growth opportunities and latest trends across North America, Europe, South America, Asia Pacific and the Middle East and Africa.

Table Of Contents

1. Executive Summary

2. Market Introduction

2.1. Market Definition

2.2. Scope Of The Study

2.3. Market Structure

3. Research Methodology

3.1. Primary Research

3.2. Secondary Research

3.3. Market Size Estimation

3.4. Forecast Model

3.5. List Of Assumptions

4. Market Dynamics

4.1. Drivers

4.1.1. Increasing Demand For Secure And Reliable Power Supply

4.1.2. Advantages Of Clean Energy Storage

4.1.3. Government Initiatives To Reduce Carbon Footprint

4.1.4. Widespread Industrialization And Population Growth Fueling Demand For Energy Efficiency

4.2. Restraints

4.2.1. High Installation And Maintenance Cost

4.3. Opportunities

4.3.1. Growing Demand For Microgrids In Healthcare, Military, And Government Sectors

4.3.2. Increasing Government Investment In Microgrid Projects

4.4. Porter’s Five Forces Analysis


List Of Tables

Table 1 Global Microgrid Market: By Region, 2018–2023

Table 2 North America: Microgrid Market: By Country, 2018–2023

Table 3 Europe Microgrid Market: By Country, 2018–2023

Table 4 Asia-Pacific Microgrid Market: By Country, 2018–2023

Table 5 Middle East & Africa Microgrid Market: By Country, 2018–2023


List Of Figures

Figure 1 Research Process Of MRFR

Figure 2 Top-Down & Bottom-Up Approach

Figure 3 Market Dynamics

Figure 4 Impact Analysis: Market Drivers

Figure 5 Impact Analysis: Market Restraints

Figure 6 Porter’s Five Forces Analysis

Figure 7 Value Chain Analysis

Figure 8 Global Microgrid Market Share, By Type, 2017 (%)


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