The Global Microgrid market has been evaluated as growing market and expected that the market will touch high growth figures in Asia-Pacific region during forecast period.
Microgrid Market are the system used to generate and control flow of electric power to commercial, industrial, and federal government consumers. It provides benefits over traditional grid system namely reliability, carbon emission reduction, diversification of energy sources, and reduction of cost associated with power generation. Due to these benefits, industries and end-user sectors are willing to implement microgrid technology to produce green energy. Fort Carson, Santa Rita Jail, Hartley bay, and Fort Collins, are some of the popular examples of a microgrid system.
The global key market players such as Lockheed Martin Corporation, ABB Ltd., Microgrid energy LLC, Anbaric, and other industries are offering wide range of products and services to their end-user industries. In November 2016, ABB Ltd., a leading company operating majorly in robotics, power & technology markets, has signed a memorandum with IIT Madras to develop microgrid for rural electrification by utilizing natural non-fossil resources and battery energy storages. Other prominent company Homer Energy LLC, a leading provider of microgrid software services, has launched new software which is capable of optimizing design process of microgrid and other distributed power generating systems with least cost options. These growing advancement in product categories and high involvement of small & large market players in developing microgrid systems & software services is creating high growth opportunity for microgrid market in the upcoming future.
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Key Players for Microgrid Market:
Some of the major players in Global Microgrid Market includes Lockheed Martin Corporation (U.S.), ABB, Ltd. (U.S.), Anbaric (U.S.), S&C Electric Company (U.S.), Homer Energy LLC (U.S.), Microgrid Energy LLC (U.S.), Power Analytics Corporation (U.S.), Siemens AG (Germany), Eaton Corporation PLC (Ireland), General Electric Company (U.S.) and others.
Segments for Microgrid Market:
Global Microgrid Market can be segmented as follows:
Segmentation by Types: off-grid, smart grid, hybrid grid, and others.
Segmentation by End-Users: Healthcare, education, industrial, military & defense, electric utility and others.
Regional Analysis of Microgrid Market:
North America is expected to dominate the Microgrid market during the forecast period 2016-2022. U.S. among all other countries in North America holds the largest market share for microgrid products due to its increasing microgrid capacity among other regional economies. Also, the growing industrialization & requirement of effective electrification in the region is fuelling North America dominance in the microgrid market. In Europe, with growing investment by government & key players to improve energy security and reliability is increasing the growth for microgrid market in the region. Furthermore, Asia-Pacific is expected to be the fastest growing Microgrid market during the forecast period 2016-2022 due to rising government initiatives for creating awareness about renewable energy sources and high demand of microgrid machines in military & defense sector.
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- Raw material providers
- Microgrid system manufacturers
- Energy storage providers
- Hardware providers
- Research & consultancy
- Government & utilities
- End-user sectors
- Technology investors
Study Objective of Microgrid market:
- To provide detailed analysis of the market structure along with forecast for the next five years of the various segments and sub-segments of the global microgrid
- To provide insights about factors affecting the market growth.
- To analyze the microgrid market based on various factors- porters five force analysis, mega trend analysis, macroeconomic indicators etc.
- To provide historical and forecast revenue of the market segments and sub-segments with respect to four main geographies and their countries- North America, Europe, Asia, and Rest of the World (ROW).
- To provide country level analysis of the market with respect to the current market size and future prospective.
- To provide country level analysis of the market for segment by types, end-users and sub-segments.
- To provide strategic profiling of key players in the market, comprehensively analyzing their core competencies, and drawing a competitive landscape for the market
- To track and analyze competitive developments such as joint ventures, strategic alliances, mergers and acquisitions, new product developments, and research and developments in the global microgrid
Table of Content
- Executive Summary
- Research Methodology
2.1. Scope of the Study
2.1.2. Research Objective
2.2. Research Process
2.2.1. Primary Research
2.2.2. Secondary Research
2.3. Market Size Estimation
2.4. Forecast Model
List of Tables
Table 1 Global Microgrid Market, By Type
Table 2 Global Microgridmarket, By End-User
Table 3 Global Microgridmarket, By Regions
List of Figures
Figure 1 Research Process
Figure 2 Global Microgrid market: By Type (%)
Figure 3 Global Microgrid market: By End-User (%)
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