Microgrid Market is projected to witness a compound annual growth rate of 14.21% to reach a total market size of US$27.897 billion in 2022 from US$14.354 billion in 2017. A microgrid is a localized grouping of electricity sources and loads, for secure and reliable power supply. Government support to increase integration and use of renewable energy sources and declining prices of photovoltaic material are some of the major growth factors of this market. Advantages like lesser transmission loss, emergency power supply, and ability to facilitate the integration of Distributed Energy Resources without any redesign of distribution system also complements the market growth over the forecast period.
Firstly, the report provides a brief introduction of the market and deals with detailed research methodology for calculating market size and forecasts, secondary data sources used and the primary inputs which were taken for data validation. This section also outlines various segmentation which has been covered as part of the report.
Next, the section provides comprehensive market dynamics through an overview section along with growth drivers, challenges, and opportunities which exist in the current market. This section of the report also provides supplier and industry outlook as a whole; key industry, global and regional regulations which are determining the market growth and a brief technological aspect of Microgrid. Complete industry analysis has also been covered by Porter’s five forces model as a part of this report section.
Thirdly, Microgrid market has been segmented on the basis of type, application, and geography.
Commercial and Industrial
Europe Middle East and Africa
Middle East and Africa
Finally, competitive intelligence section deals with major players in the market, their market shares, growth strategies, products, financials, and recent investments among others. Key industry players profiled as part of this section are Pareto Energy, Power Analytics Corporation, S&C Electric Co., Schneider Electric, Viridity Energy Inc., EnSync Inc., ABB Ltd., Honeywell International Inc. and Siemens AG among others.