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Microgrid Market: Current Analysis and Forecast (2021-2027)

Region:Global

Author(s):

Product Code:UMEP21317

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Published on

July 2021

Total pages

192

Table of Content

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About the Report

About the Report

Microgrid is an autonomously operating traditional energy grid i.e., it is like a local energy grid but has control capability ad can disconnect form the grid to operate autonomously. According to the U.S. Department of Energy Microgrid Exchange Group, a microgrid is a group of connected loads and energy sources within clearly defined electrical boundaries and acts like a single controllable entity with respect to the grid. A microgrid can connect and disconnect from the grid which enables it to operate in both grid-connected and island-mode. With the falling cost of solar energy and its environmental benefits, most microgrids nowadays are being designed to supply electricity with a combination of solar power and battery storage.

Grids connects businesses, homes and other buildings to a central power source which allows the working of appliances like electronics, heating/cooling systems etc. Due to this when a part of the grid needs to be repaired, everyone is affected. Microgrids help in this aspect. Microgrids can break off from the main grid and word on its own local energy in times of crisis like power outages and storms.

Based on connectivity, the global microgrid market is segmented into Grid Connected and Off Grid. Amongst connectivity, the off-grid segment of the global microgrid market was valued at USD XX billion in 2020 and is likely to reach USD XX billion by 2027 and is growing at a CAGR of XX% from 2021-2027.

Based on grid type, the global microgrid market is segmented into AC Microgrid, DC Microgrid and Hybrid. Amongst grid type, AC microgrid accounted for a market valuation of USD XX billion in 2020 and is expected to reach USD XX billion by the year 2027, at a CAGR of XX% over the analysed period.

Based on power source, the global microgrid market is segmented into Diesel generators, Natural Gas, Solar PV, CHP, and Others. The natural gas segment generated revenue of USD XX billion in 2020 and is expected to grow at a CAGR of XX% during the forecast period to reach a market valuation of USD XX billion by 2027F.

Based on storage device, the global microgrid market is segmented into Lithium-ion, Lead Acid, Flow Battery, Flywheels, and Others. Amongst storage device, the lithium-ion segment of the global microgrid market was valued at USD XX billion in 2020 and is likely to reach USD XX billion by 2027 and is growing at a CAGR of XX% from 2021-2027.

Based on application, the global microgrid market is segmented into Healthcare, Educational Institutes, Military, Utility, Industrial/ Commercial, Remote, and Others. Amongst application, industrial/commercial segment accounted for a market valuation of USD XX billion in 2020 and is expected to reach USD XX billion by the year 2027, at a CAGR of XX% over the analysed period.

For a better understanding of the market adoption of Global Microgrid Industry, the market is analysed based on its worldwide presence in the countries such as North America (United States, Canada, and the Rest of North America), Europe (Germany, France, Italy, Spain, United Kingdom and Rest of Europe), Asia-Pacific (China, Japan, India, Australia, and Rest of APAC), and Rest of World. North America will dominate the Global Microgrid market on account of the increasing usage and connection of electricity and its capability to use renewable energy.

Some of the major players operating in the market include ABB, General Electric Company, Siemens AG, Eaton Corporation Inc, Schneider Electric SE, Honeywell International Inc., HOMER Energy LLC, S&C Electric Company, Power Analytics Corporation, and Exelon Corporation. Several M&As along with partnerships have been undertaken by these players to boost their presence in different regions.

Products


Companies

ABB, General Electric Company, Siemens AG, Eaton Corporation Inc, Schneider Electric SE, Honeywell International Inc., HOMER Energy LLC, S&C Electric Company, Power Analytics Corporation, and Exelon Corporation

Table of Contents

Table of Contents

1 MARKET INTRODUCTION

1.1. Market Definitions

1.2. Objective of the Study

1.3. Limitation

1.4. Stake Holders

1.5. Currency Used in Report

1.6. Scope of the Global Microgrid Market Study

2 RESEARCH METHODOLOGY OR ASSUMPTION

2.1. Research Methodology for the Global Microgrid Market

2.1.1. Main Objective of the Global Microgrid Market

3 MARKET SYNOPSIS (INDUSTRY AT A GLANCE)

4 EXECUTIVE SUMMARY

5 GLOBAL MICROGRID MARKET REVENUE (USD BN), 2021-2027F

6 MARKET INSIGHTS BY CONNECTIVITY

6.1. Grid Connected

6.2. Off Grid

7 MARKET INSIGHTS BY GRID TYPE

7.1. AC Microgrid

7.2. DC Microgrid

7.3. Hybrid

8 MARKET INSIGHTS BY POWER SOURCE

8.1. Diesel generators

8.2. Natural Gas

8.3. Solar PV

8.4. CHP

8.5. Others

9 MARKET INSIGHTS BY STORAGE DEVICE

9.1. Lithium-ion

9.2. Lead Acid

9.3. Flow Battery

9.4. Flywheels

9.5. Others

10 MARKET INSIGHTS BY APPLICATION

10.1. Healthcare

10.2. Educational Institutes

10.3. Military

10.4. Utility

10.5. Industrial/ Commercial

10.6. Remote

10.7. Others

11 MARKET INSIGHTS BY REGION

11.1. NORTH AMERICA MICROGRID MARKET

11.1.1. United States of America

11.1.2. Canada

11.1.3. Rest of North America

11.2. EUROPE MICROGRID MARKET

11.2.1. United Kingdom

11.2.2. Germany

11.2.3. France

11.2.4. Spain

11.2.5. Italy

11.2.6. Rest of Europe

11.3. ASIA-PACIFIC MICROGRID MARKET

11.3.1. China

11.3.2. Japan

11.3.3. India

11.3.4. Australia

11.3.5. Rest of Asia-Pacific

11.4. REST OF THE WORLD MICROGRID MARKET

12 GLOBAL MICROGRID MARKET DYNAMICS

12.1. Drivers

12.2. Challenges

12.3. Impact Analysis

12.4. Opportunity

13 GLOBAL MICROGRID MARKET OPPORTUNITIES

14 GLOBAL MICROGRID MARKET TRENDS

15 DEMAND AND SUPPLY SIDE ANALYSIS

15.1. Demand Side Analysis

15.2. Supply Side Analysis

15.2.1. Top Product Launches

15.2.2. Top Business Partnerships

15.2.3. Top Business Expansions, Investments and Divestitures

15.2.4. Top Merger and Acquisitions

16 VALUE CHAIN ANALYSIS

17 COMPETITIVE SCENARIO

18 COMPANY PROFILED

18.1. ABB

18.2. General Electric Company

18.3. Siemens AG

18.4. Eaton Corporation Inc

18.5. Schneider Electric SE

18.6. Honeywell International Inc.

18.7. HOMER Energy LLC

18.8. S&C Electric Company

18.9. Power Analytics Corporation

18.10. Exelon Corporation

19 DISCLAIMER

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