Global Microgrid Market Empowering Localized Energy Solutions 2023 to 2030 | ABB, NEC, GE, Aquion Energy

Published September 7, 2023

Infinity Business Insights: Statistical Analysis report on “Global Microgrid Market” capacity, production, production value, cost/profit, supply/demand and import/export. The report will assist reader with better understanding and decision making.

The Microgrid Market is estimated to increase at a CAGR of 19.08% between 2023 and 2028, from USD 13.37 billion in 2023 to USD 32.01 billion by 2028. A microgrid is a self-sustaining, localised energy system that serves a specific area, such as a hospital complex, college campus, or business centre. It can run independently without the assistance of a centralised grid. A smart microgrid can function when connected to the main grid, and it can also function as an electrical island when not connected to the main grid. It aids in the reduction of harmful emissions, resulting in the best use of renewable resources, increased efficiency, and long-term energy cost predictability.

The Key companies profiled in the Microgrid Market:

The study examines the Microgrid Market’s competitive landscape and includes data on ABB, NEC, GE, Aquion Energy, Echelon, Raytheon, SandC Electric Co, Eaton Corporation, Sunverge Energy, Siemens, Toshiba, General Microgrids, Lockheed Martin & Others.

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Demand for dependable and secure power supply in commercial and industrial sectors around the world, together with government measures to minimise carbon footprint, are projected to drive the microgrid market forward. Furthermore, growing use of software to monitor and control distributed energy resources with integrated weather and load forecasts across various end-user segments such as commercial, industrial, government, and healthcare is likely to drive the market during the forecast period. With modest investments in development, research, and testing, the microgrid industry is likely to yield low cash output in the next years. The microgrid market, on the other hand, is nearing maturity and is likely to provide modest revenue for important participants in the future years.

Global Microgrid Market Segment by Type & Applications:

This report segments the Microgrid Market on the basis of Types:

On the basis of Application, the Microgrid Market is segmented into:
Commercial or Industrial Microgrid
Community or Utility Microgrid
Campus or Institutional Microgrid
Military Microgrid
Remote Microgrid

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Microgrid Market Regional Analysis:
Because of the increasing power demand from rural communities, 35% of Asia-based utility firms estimate that microgrids would generate new revenue streams in the next two years. For example, the Rockefeller Foundation erected over 160 microgrids in four Indian states: Bihar, Uttar Pradesh, Odisha, and Rajasthan. More than 70,000 individuals in distant places now have access to energy thanks to this programme. Many Asian countries are looking for more microgrid installations due to rising power demand and governments’ drive to include renewables into the power generation mix. Even in 2020, India’s renewable share of power generation was around 9.7%, considerably short of the minimum standards. As a result, several energy corporations are involved.

Microgrid Market – COVID-19 and Recovery Analysis:
The Covid-19 (coronavirus) pandemic is impacting society and the overall economy across the world. The impact of this pandemic is growing day by day as well as affecting the supply chain including Microgrid industry. The COVID-19 crisis is creating uncertainty in the stock market, massive slowing of supply chain, falling business confidence, and increasing panic among the customer segments. The overall effect of the pandemic is impacting the production process of several industries including Microgrid. This report on Microgrid Market provides the analysis on impact on Covid-19 on various business segments and country markets. The reports also showcase market trends and forecast to 2028, factoring the impact of Covid -19 Situation in the Microgrid industry.

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Microgrid Market Research Methodology:
The research paper provides perceptions into approaches developed by each firm for the same condition, while the study provides in-depth insights into organisations developing solutions for it. In-depth assessment of licencing agreements, company-company collaboration, and company-academic collaborations for future market development. The report also includes facts and statistics, tables, and visuals that will be used in strategic planning for the company’s growth. The research employs a bottom-up approach and triangulation methodologies to analyse market size and projections, taking into consideration the status of the economy, changes in legislation, and other factors.

The study objectives of this Microgrid Market Report are:
• Focuses on the key global Microgrid companies, to define, describe and analyze the sales volume, value, market share, market competition landscape, and recent development.
• To project the value and sales volume of Microgrid submarkets, with respect to key regions.
• To analyze competitive developments such as expansions, agreements, new product launches, and acquisitions in the market.
• To study and analyze the global Microgrid market size (value & volume) by company, key regions, products, and end-user, breakdown data from the Last Five Years, and forecast to 2030.
• To understand the structure of the Microgrid market by identifying its various sub-segments.
• To share detailed information about the key factors influencing the growth of the market (growth potential, opportunities, drivers, industry-specific challenges, and risks).

1. During the projected period, what will be the market’s development rate, development force, or speed increase?
2. What are the fundamental drivers of the market?
3. As far as worth, how large was the developing business sector in 2023?

Browse the complete Microgrid Market report details with table of contents and list of figures click here

Major Points from Table of Contents:
Chapter 1: Microgrid Market Overview
Chapter 2: Company Profiles
Chapter 3: Microgrid Market Competition, by Players
Chapter 4: Microgrid Market Size Segment by Type
Chapter 5: Microgrid Market Size Segment by Application
Chapter 6: North America by Country, by Type, and by Application
Chapter 7: Europe by Country, by Type, and by Application
Chapter 8: Asia-Pacific by Region, by Type, and by Application
Chapter 9: South America by Country, by Type, and by Application
Chapter 10: Middle East & Africa by Country, by Type, and by Application
Chapter 11: Research Findings and Conclusion
Chapter 12: Appendix…

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