Microgrid Market Size is Projected to Reach USD 30.049 Billion by 2025 | Valuates Reports

BANGALORE, India, June 12, 2020 /PRNewswire/ -- A microgrid is a group of interconnected loads and distributed energy resources within clearly defined electrical boundaries that act as a single controllable entity with respect to the grid. A microgrid can connect and disconnect from the grid to enable it to operate in both grid-connected or island mode.

In 2018, the global Microgrid market size was USD 11401.55 Million and it is expected to reach USD 30049.32 Million by the end of 2025, with a CAGR of 14.75% between 2019 and 2025.

This report studies the size of the Microgrid market by participants, countries, product types and end industries, historical data for 2014-2018 and forecast data for 2019-2025; this report also studies the global competitive environment, market drivers and patterns, opportunities and challenges, risks and barriers to entry, distribution channels, distributors and Porter's Five Forces Analysis.

This report also analyses the impact of Coronavirus COVID-19 on the Microgrid Market

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TRENDS INFLUENCING THE MICROGRID MARKET SIZE

• Governments of various countries are increasingly investing in the development of low-cost and clean electricity infrastructures. This, in turn, has led to the growth of the Microgrid market size. Microgrids are established for generating, managing, and controlling distributed energy resources in remote areas.
• Accelerating demand for reliable and uninterrupted electricity supply along with favorable measures to integrate clean energy sources will stimulate the growth of microgrid market size. Another factor that has been proactive in keeping the global microgrid market growth is low transmission losses. Microgrids produce local power and reduce dependency on long-distance transmission lines and therefore reduce transmission losses.
• Declining component prices and increasing investments in the integration of sustainable energy technology will have a positive impact on the microgrid market dynamics. The market outlook will be complemented by rapid technological advancement in the production of advanced energy storage systems, distributed power generation systems, and software. All these factors together are expected to increase the microgrid market size during the forecast period.
• Furthermore, the increased demand for automated grid systems, decreased carbon footprint, advancement in microgrid connectivity through IoT integration, and benefits of low cost and clean energy storage are other prominent factors expected to positively drive the microgrid market size.

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MICROGRID MARKET SHARE ANALYSIS

• Due to the presence of a large number of microgrid developers and the region's technological development, the Americas are expected to hold the largest microgrid market share. In addition, several initiatives, such as the Smart Power Infrastructure Demonstration for Energy Reliability and Security (SPIDERS) program, have been undertaken by the government of the various to promote microgrid adoption.
• The Asia Pacific and Europe are experiencing substantial growth due to the development of Tier II & III cities and the shift of industrial base across developing countries.

Market Segment By Region/Countries, This Report Covers

• United States
• Europe
• China
• Japan
• Southeast Asia
• India
• Central & South America.

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MICROGRID MARKET SEGMENTATION

Microgrid Market Segmentation By Type, The Product Can Be Split Into Market

• Grid-Tied Type Microgrid
• Independent Type Microgrid.

Microgrid Market Segment By Application, Split Into

• Commercial/Industrial Microgrid
• Community/Utility Microgrid
• Campus/Institutional Microgrid
• Military Microgrid
• Remote Microgrid.

Top Microgrid Companies Covered In This Study

• Tesla
• ABB
• GE
• Echelon
• S&C Electric Co
• Siemens
• General Microgrids
• Microgrid Solar
• Raytheon
• Sunverge Energy
• Toshiba
• NECAquion Energy
• EnStorage
• SGCC
• Moixa
• EnSync
• Ampard
• Green Energy Corp
• Growing Energy Labs Inc
• HOMER Energy
• Spirae, Inc.

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SIMILAR REPORTS

• Microgrid Technology Market Report

In 2018, the global Microgrid Technology market size was USD 11400 Million and it is expected to reach USD 32200 Million by the end of 2025, with a CAGR of 13.9% between 2019 and 2025.

Having captured nearly half of all vendor revenue activity, North America holds the largest microgrid technology market share of about 48.59% in 2016 and is expected to dominate the market during the forecast period as well.

The Asia Pacific holds second place in terms of microgrid technology revenue market share with 27.83%. 

ABB, GE, and Echelon captured the top three revenue share spots in the Microgrid technology market in 2016. ABB dominated with 7.53 percent revenue share, followed by GE with a 5.64 percent revenue share and Echelon with a 5.03 percent revenue share.

This report studies two types of Microgrid Technology namely, the Grid-Tied Type Microgrid and Independent Type Microgrid. Grid-Tied Type Microgrid has dominated the market with 78.30% Installed Capacity market share in 2016. 

View Full Report: https://reports.valuates.com/market-reports/QYRE-Auto-C222/global-microgrid-technology  

Microgrid Controller Market:

The Global Microgrid Controller Market size is expected to grow from USD 5,978.37 Million in 2019 to USD 13,979.87 Million by 2025, at a CAGR of 15.20%.

One of the factors mainly attributable to the growth of the Global Microgrid Controller Market is the enhanced performance of microgrid controllers and the optimization of energy assets. Other factors that are expected to increase the Global Microgrid Controller Market size are growing microgrid opportunities as a reliable and secure power supply, increased focus on renewable energy sources and reduced carbon footprints, increased government investment in microgrid projects, and increased microgrid efficiency using microgrid controllers and energy asset optimization.

View Full Report: https://reports.valuates.com/market-reports/360I-Auto-1T53/global-microgrid-controller

• Independent Microgrid (DC, AC and Hybrid Microgrid) Market Report

The global Independent Microgrid market is segmented into type, and application. Based on type it is categorized as DC Microgrid, AC Microgrid and Hybrid Microgrid. Based on application the market is segmented into Commercial/Industrial Microgrid, Community/Utility Microgrid, Campus/Institutional Microgrid, Military Microgrid, and Remote Microgrid.

The report provides data for each product type by revenue for the forecast time period. It also covers the price of each type of product.

View Full Report: https://reports.valuates.com/market-reports/QYRE-Othe-0C253/independent-microgrid

• Microgrid as a Service (MaaS) Market Report

The COVID -19 pandemic has spread to nearly 100 countries across the globe since the outbreak in December 2019. The global impacts of the 2019 coronavirus disease (COVID-19) are already starting to be felt and will affect the Microgrid as a Service (MaaS) Market significantly in 2020.

Market growth can be attributed to reduced operational costs and marginal capital expenditures by MaaS end-users, increased demand for MaaS from hospitals, universities, and remote areas, and high government investment in microgrid infrastructure to improve resiliency.

View Full Report: https://reports.valuates.com/market-reports/QYRE-Auto-3Y2618/global-microgrid-as-a-service-maas 

• Microgrid Automation Market Report

The market is being driven by increased adoption in manufacturing, increased utilization/reduced curtailment of renewable generation, and improved demand response by scheduling loads.

View Full Report: https://reports.valuates.com/market-reports/QYRE-Auto-14O2232/global-microgrid-automation-key 

• Microgrid Monitoring Systems Market Report

This report provides a complete quantitative data and qualitative analysis of the global Microgrid Monitoring Systems market size. Market size is analyzed by country, product type, application, and competitors. Expanded coverage includes additional end-user industry breakdowns and in-depth producer profiles.

View Full Report: https://reports.valuates.com/market-reports/QYRE-Othe-2X299/covid-19-impact-on-microgrid-monitoring-systems

• Microgrid Controls and Management Systems Market Report

View Full Report: https://reports.valuates.com/market-reports/QYRE-Othe-1G309/covid-19-impact-on-global-microgrid-controls-and-management-systems

• Industrial Microgrid Market

View Full Report: https://reports.valuates.com/market-reports/QYRE-Othe-0M254/covid-19-impact-on-global-industrial-microgrid         

• Microgrid Control System Market Report

View Full Report: https://reports.valuates.com/market-reports/QYRE-Auto-0O2131/global-microgrid-control-system 

• Remote Microgrid Market Report

View Full Report: https://reports.valuates.com/market-reports/QYRE-Auto-31B1919/global-remote-microgrid 

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