"Rapid Growth in Distributed Energy Generation expected to uplift the Global Microgrid Market"
The global microgrid market was valued at US$ 23.80 Bn in the year 2018 and expected to reach US$ 59.12 Bn by the year 2027, expanding at a CAGR of 10.7% during the forecast from 2019 to 2027.
Evolutionary changes in the operational and regulatory environment of electric utilities along with the emergence of distributed generation have opened alluring opportunities for on-site electricity generation. This multiple generation approach increases the reliability of power as well as generation efficiency. Additionally, mission-critical facilities, large power consumers, and areas with prolonged outages have great benefits from a microgrid. Furthermore, the U.S. Department of Defense (DoD) has found out that commercial grids are highly vulnerable to cyber-attacks and security threats, therefore microgrid provides a reliable environment to overcome this issue.
As per the Blackout Tracker annual Report published by Eaton, power blackouts cost nearly US$ 150 Bn to the global economy and influence almost 14.2 Mn people annually. Poor maintenance, natural calamities, overloading, mall operation of control & protection systems, cyber-attacks, and equipment failure are some of the prime factors responsible for the power blackouts. Consequently, the microgrid is a technology boon that we can rely on.
"Industrial/ Commercial Segment dominated the Global Microgrid Market in 2018"
The industrial / Commercial application segment dominated the global microgrid market in the year 2018. In many developing as well as developed countries power outages is a common problem and due to this several industries suffer from heavy losses. As a solution, several companies in the commercial & Industrial sector have switched to microgrid solutions to overcome the power outage problem. In addition, this in-house distributed generation helps them in enhancing their power efficiency. Furthermore, the companies can easily integrate renewable sources for power generation to their existing grid.
"The Asia Pacific dominated the Global Microgrid Market in the year 2018 and seeks Opportunistic Growth during the Forecast Period"
The Asia Pacific held the majority of the revenue share in the global microgrid market in 2018. The prime factor attributed to this is the increased rural electrification program along with a large number of commercial microgrid deployment in the advanced nations. For instance, the total investment on Asian microgrids expected to reach US$ 31 Bn by 2023. Remote microgrid seeks lucrative growth in Asian countries owing to a lack of robust grid infrastructure. However, Japan is majorly focused on grid-tied systems and other distributed generation technology such as Virtual Power Plants (VPP). In addition, the microgrid deployment tracker identifies 575 new microgrid project in the region that depicts the rise of the Asia Pacific market.
Apart from this Latin America assumed to be the fastest-growing region during the forecast period. Among which, the Caribbean market is the most opportunistic owing to a series of hurricanes along with frequent other natural calamities in the near past. In March 2019, the Environmental Defense Fund in Puerto Rico announced to build a low-carbon microgrid in rural areas to beat the power-cut problems during natural disasters.
Key Players & Competitive Landscape:
"The Global Microgrid Market is a Highly Competitive Market with the Presence of a Large Number of Players"
The global microgrid market is a fragmented market with the presence of a large number of small and large players. The race to provide the best quality of power at a low price has turned the market to be highly competitive.
List of Companies Covered:
Key Industry Development:
Historical & Forecast Period
This research study provides qualitative as well as quantitative insights for each segment and sub-segment from 2017 to 2027, considering 2018 as the base year for the research. CAGR (Compounded Annual Growth Rate) for each segment and sub-segment calculated for the forecast period from 2019 to 2027.
The research study titled the microgrid market offers market size and forecasts based on market dynamics and predominant trends shaping the industry. The report provides an all-round view of the global microgrid market based on grid type, source, storage, application, and geography. Key segments covered in the report are as follows:
ATTRIBUTE | DETAILS |
---|---|
Research Period | 2017-2027 |
Base Year | 2018 |
Forecast Period | 2019-2027 |
Historical Year | 2017 |
Unit | US$ Billion |
Segmentation |
Grid Type Segment (2017–2027; US$ Bn) |
Source Segment (2017–2027; US$ Bn) |
|
Storage Segment (2017–2027; US$ Bn) |
|
Application Segment (2017–2027; US$ Bn) |
|
Geography Segment (2017–2027; US$ Bn) |
1. Preface
1.1. Report Description
1.1.1. Purpose of the Report
1.1.2. Target Audience
1.1.3. USP and Key Offerings
1.2. Research Scope
1.3. Research Methodology
1.3.1. Phase I – Secondary Research
1.3.2. Phase II – Primary Research
1.3.3. Phase III – Expert Panel Review
1.3.4. Approach Adopted
1.3.4.1. Top-Down Approach
1.3.4.2. Bottom-Up Approach
1.3.5. Assumptions
2. Executive Summary
2.1. Market Snapshot: Global Microgrid Market
2.2. Global Microgrid Market, by Grid Type, 2018 (US$ Bn)
2.3. Global Microgrid Market, by Source, 2018 (US$ Bn)
2.4. Global Microgrid Market, by Storage, 2018 (US$ Bn)
2.5. Global Microgrid Market, by Application, 2018 (US$ Bn)
2.6. Global Microgrid Market, by Geography, 2018 (US$ Bn)
3. Market Dynamics
3.1. Introduction
3.1.1. Global Microgrid Market Value, 2017-2027, (US$ Bn)
3.2. Market Dynamics
3.2.1. Market Drivers
3.2.2. Market Restraints
3.3. Attractive Investment Proposition, by Geography, 2018
3.4. Market Positioning of Key Players, 2018
3.4.1. Major Strategies Adopted by Key Players
4. Global Microgrid Market, by Grid Type, 2017-2027 (US$ Bn)
4.1. Overview
4.2. Grid-connected
4.3. Remote Microgrid
4.4. Networked Microgrid
4.5. Others
5. Global Microgrid Market, by Source, 2017-2027 (US$ Bn)
5.1. Overview
5.2. Solar PV
5.3. Natural Gas
5.4. Diesel Generators
5.5. Combined Heat & Power (CHP)
5.6. Others
6. Global Microgrid Market, by Storage, 2017-2027 (US$ Bn)
6.1. Overview
6.2. Flywheel
6.3. Lead Acid
6.4. Lithium-Ion
6.5. Flow Batteries
6.6. Others
7. Global Microgrid Market, by Application, 2017-2027 (US$ Bn)
7.1. Overview
7.2. Remote
7.3. Utility
7.4. Military
7.5. Healthcare
7.6. Industrial/Commercial
7.7. Educational Institutes
7.8. Others
8. North America Microgrid Market Analysis, 2017-2027 (US$ Bn)
8.1. Overview
8.1.1. North America Microgrid Market Value, 2017-2027, (US$ Bn)
8.2. North America Microgrid Market Value, By Grid Type, 2017-2027 (US$ Bn)
8.2.1. Grid-connected
8.2.2. Remote Microgrid
8.2.3. Networked Microgrid
8.2.4. Others
8.3. North America Microgrid Market Value, By Source, 2017-2027 (US$ Bn)
8.3.1. Solar PV
8.3.2. Natural Gas
8.3.3. Diesel Generators
8.3.4. Combined Heat & Power (CHP)
8.3.5. Others
8.4. North America Microgrid Market Value, By Storage, 2017-2027 (US$ Bn)
8.4.1. Flywheel
8.4.2. Lead Acid
8.4.3. Lithium-Ion
8.4.4. Flow Batteries
8.4.5. Others
8.5. North America Microgrid Market Value, By Application, 2017-2027 (US$ Bn)
8.5.1. Remote
8.5.2. Utility
8.5.3. Military
8.5.4. Healthcare
8.5.5. Industrial/Commercial
8.5.6. Educational Institutes
8.5.7. Others
8.6. North America Microgrid Market Value, By Country/ Region, 2017-2027 (US$ Bn)
8.6.1. Market Analysis
8.6.2. U.S.
8.6.3. Rest of North America
9. Europe Microgrid Market Analysis, 2017-2027 (US$ Bn)
9.1. Overview
9.1.1. Europe Microgrid Market Value, 2017-2027, (US$ Bn)
9.2. Europe Microgrid Market Value, By Grid Type, 2017-2027 (US$ Bn)
9.2.1. Grid-connected
9.2.2. Remote Microgrid
9.2.3. Networked Microgrid
9.2.4. Others
9.3. Europe Microgrid Market Value, By Source, 2017-2027 (US$ Bn)
9.3.1. Solar PV
9.3.2. Natural Gas
9.3.3. Diesel Generators
9.3.4. Combined Heat & Power (CHP)
9.3.5. Others
9.4. Europe Microgrid Market Value, By Storage, 2017-2027 (US$ Bn)
9.4.1. Flywheel
9.4.2. Lead Acid
9.4.3. Lithium-Ion
9.4.4. Flow Batteries
9.4.5. Others
9.5. Europe Microgrid Market Value, By Application, 2017-2027 (US$ Bn)
9.5.1. Remote
9.5.2. Utility
9.5.3. Military
9.5.4. Healthcare
9.5.5. Industrial/Commercial
9.5.6. Educational Institutes
9.5.7. Others
9.6. Europe Microgrid Market Value, By Country/ Region, 2017-2027 (US$ Bn)
9.6.1. Market Analysis
9.6.2. U.K.
9.6.3. Germany
9.6.4. France
9.6.5. Rest of Europe
10. Asia Pacific Microgrid Market Analysis, 2017-2027 (US$ Bn)
10.1. Overview
10.1.1. Asia Pacific Microgrid Market Value, 2017-2027, (US$ Bn)
10.2. Asia Pacific Microgrid Market Value, By Grid Type, 2017-2027 (US$ Bn)
10.2.1. Grid-connected
10.2.2. Remote Microgrid
10.2.3. Networked Microgrid
10.2.4. Others
10.3. Asia Pacific Microgrid Market Value, By Source, 2017-2027 (US$ Bn)
10.3.1. Solar PV
10.3.2. Natural Gas
10.3.3. Diesel Generators
10.3.4. Combined Heat & Power (CHP)
10.3.5. Others
10.4. Asia Pacific Microgrid Market Value, By Storage, 2017-2027 (US$ Bn)
10.4.1. Flywheel
10.4.2. Lead Acid
10.4.3. Lithium-Ion
10.4.4. Flow Batteries
10.4.5. Others
10.5. Asia Pacific Microgrid Market Value, By Application, 2017-2027 (US$ Bn)
10.5.1. Remote
10.5.2. Utility
10.5.3. Military
10.5.4. Healthcare
10.5.5. Industrial/Commercial
10.5.6. Educational Institutes
10.5.7. Others
10.6. Asia Pacific Microgrid Market Value, By Country/ Region, 2017-2027 (US$ Bn)
10.6.1. Market Analysis
10.6.2. Japan
10.6.3. China
10.6.4. India
10.6.5. Rest of Asia Pacific
11. Rest of the World Microgrid Market Analysis, 2017-2027 (US$ Bn)
11.1. Overview
11.1.1. Rest of the World Microgrid Market Value, 2017-2027, (US$ Bn)
11.2. Rest of the World Microgrid Market Value, By Grid Type, 2017-2027 (US$ Bn)
11.2.1. Grid-connected
11.2.2. Remote Microgrid
11.2.3. Networked Microgrid
11.2.4. Others
11.3. Rest of the World Microgrid Market Value, By Source, 2017-2027 (US$ Bn)
11.3.1. Solar PV
11.3.2. Natural Gas
11.3.3. Diesel Generators
11.3.4. Combined Heat & Power (CHP)
11.3.5. Others
11.4. Rest of the World Microgrid Market Value, By Storage, 2017-2027 (US$ Bn)
11.4.1. Flywheel
11.4.2. Lead Acid
11.4.3. Lithium-Ion
11.4.4. Flow Batteries
11.4.5. Others
11.5. Rest of the World Microgrid Market Value, By Application, 2017-2027 (US$ Bn)
11.5.1. Remote
11.5.2. Utility
11.5.3. Military
11.5.4. Healthcare
11.5.5. Industrial/Commercial
11.5.6. Educational Institutes
11.5.7. Others
11.6. Rest of the World Microgrid Market Value, By Region, 2017-2027 (US$ Bn)
11.6.1. Market Analysis
11.6.2. Middle East & Africa
11.6.3. Latin America
12. Company Profiles
12.1. ABB
12.2. Siemens AG
12.3. Schneider Electric SE
12.4. S&C Electric Company
12.5. General Electric Company
12.6. HOMER Energy LLC
12.7. Eaton Corporation Inc.
12.8. Honeywell International Inc.
12.9. Exelon Corporation
12.10. Power Analytics Corporation
TABLE 1 GLOBAL MICROGRID MARKET BY GRID TYPE 2012-2022 ($ MILLION) 28
TABLE 2 GLOBAL MICROGRID MARKET BY GRID-CONNECTED TYPE 2012-2022 ($ MILLION) 28
TABLE 3 GLOBAL MICROGRID MARKET BY REMOTE/ ISLAND TYPE 2012-2022 ($ MILLION) 28
TABLE 4 GLOBAL MICROGRID MARKET BY HYBRID TYPE 2012-2022 ($ MILLION) 29
TABLE 5 GLOBAL MICROGRID MARKET BY COMPONENTS 2012-2022 ($ MILLION) 29
TABLE 6 GLOBAL MICROGRID MARKET BY GENERATION 2012-2022 ($ MILLION) 29
TABLE 7 GLOBAL MICROGRID MARKET BY SWITCH GEAR 2012-2022 ($ MILLION) 29
TABLE 8 GLOBAL MICROGRID MARKET BY CONTROLS 2012-2022 ($ MILLION) 29
TABLE 9 GLOBAL MICROGRID MARKET BY CABLE 2012-2022 ($ MILLION) 29
TABLE 10 GLOBAL MICROGRID MARKET BY SOFTWARE & SERVICES 2012-2022 ($ MILLION) 29
TABLE 11 GLOBAL MICROGRID MARKET BY POWER SOURCE 2012-2022 ($ MILLION) 29
TABLE 12 GLOBAL MICROGRID MARKET BY FUEL CELL 2012-2022 ($ MILLION) 29
TABLE 13 GLOBAL MICROGRID MARKET BY CHP 2012-2022 ($ MILLION) 29
TABLE 14 GLOBAL MICROGRID MARKET BY RENEWABLES 2012-2022 ($ MILLION) 29
TABLE 15 GLOBAL MICROGRID MARKET BY PV CELLS 2012-2022 ($ MILLION) 29
TABLE 16 GLOBAL MICROGRID MARKET BY WIND-BASED 2012-2022 ($ MILLION) 29
TABLE 17 GLOBAL MICROGRID MARKET BY OTHERS 2012-2022 ($ MILLION) 29
TABLE 18 GLOBAL MICROGRID MARKET BY VERTICAL 2012-2022 ($ MILLION) 29
TABLE 19 GLOBAL MICROGRID MARKET BY GOVERNMENT & EDUCATION 2012-2022 ($ MILLION) 29
TABLE 20 GLOBAL MICROGRID MARKET BY INSTITUTION & RESEARCH ORGANIZATION 2012-2022 ($ MILLION) 29
TABLE 21 GLOBAL MICROGRID MARKET BY GOVERNMENT ORGANIZATION 2012-2022 ($ MILLION) 30
TABLE 22 GLOBAL MICROGRID MARKET BY RESIDENTIAL & COMMERCIAL 2012-2022 ($ MILLION) 30
TABLE 23 GLOBAL MICROGRID MARKET BY RESIDENTIAL 2012-2022 ($ MILLION) 30
TABLE 24 GLOBAL MICROGRID MARKET BY HEALTHCARE 2012-2022 ($ MILLION) 30
TABLE 25 GLOBAL MICROGRID MARKET BY OTHERS 2012-2022 ($ MILLION) 30
TABLE 26 GLOBAL MICROGRID MARKET BY INDUSTRIAL 2012-2022 ($ MILLION) 30
TABLE 27 GLOBAL MICROGRID MARKET BY MILITARY 2012-2022 ($ MILLION) 30
TABLE 28 GLOBAL MICROGRID MARKET BY UTILITY 2012-2022 ($ MILLION) 30
TABLE 29 GLOBAL MICROGRID MARKET REGIONAL OUTLOOK 2012-2022 ($ MILLION) 30
TABLE 30 GLOBAL MICROGRID MARKET BY REGION 2012-2022 ($ MILLION) 30
TABLE 31 NORTH AMERICA MARKET ESTIMATES AND FORECAST 2012-2022 ($ MILLION) 30
TABLE 32 NORTH AMERICA MARKET ESTIMATES AND FORECAST BY APPLICATION 2012-2022 ($ MILLION) 30
TABLE 33 NORTH AMERICA MARKET ESTIMATES AND FORECAST BY REGION 2012-2022 ($ MILLION) 30
TABLE 34 U.S. MARKET ESTIMATES AND FORECAST 2012-2022 ($ MILLION) 30
TABLE 35 U.S. MARKET ESTIMATES AND FORECAST BY APPLICATION 2012-2022 ($ MILLION) 30
TABLE 36 CANADA MARKET ESTIMATES AND FORECAST 2012-2022 ($ MILLION) 30
TABLE 37 CANADA MARKET ESTIMATES AND FORECAST BY APPLICATION 2012-2022 ($ MILLION) 30
TABLE 38 MEXICO MARKET ESTIMATES AND FORECAST 2012-2022 ($ MILLION) 31
TABLE 39 MEXICO MARKET ESTIMATES AND FORECAST BY APPLICATION 2012-2022 ($ MILLION) 31
TABLE 40 EUROPE MARKET ESTIMATES AND FORECAST 2012-2022 ($ MILLION) 31
TABLE 41 EUROPE MARKET ESTIMATES AND FORECAST BY APPLICATION 2012-2022 ($ MILLION) 31
TABLE 42 EUROPE MARKET ESTIMATES AND FORECAST BY REGION 2012-2022 ($ MILLION) 31
TABLE 43 GERMANY MARKET ESTIMATES AND FORECAST 2012-2022 ($ MILLION) 31
TABLE 44 GERMANY MARKET ESTIMATES AND FORECAST BY APPLICATION 2012-2022 ($ MILLION) 31
TABLE 45 UK MARKET ESTIMATES AND FORECAST 2012-2022 ($ MILLION) 31
TABLE 46 UK MARKET ESTIMATES AND FORECAST BY APPLICATION 2012-2022 ($ MILLION) 31
TABLE 47 FRANCE MARKET ESTIMATES AND FORECAST 2012-2022 ($ MILLION) 31
TABLE 48 FRANCE MARKET ESTIMATES AND FORECAST BY APPLICATION 2012-2022 ($ MILLION) 31
TABLE 49 SPAIN MARKET ESTIMATES AND FORECAST 2012-2022 ($ MILLION) 31
TABLE 50 SPAIN MARKET ESTIMATES AND FORECAST BY APPLICATION 2012-2022 ($ MILLION) 31
TABLE 51 ITALY MARKET ESTIMATES AND FORECAST 2012-2022 ($ MILLION) 31
TABLE 52 ITALY MARKET ESTIMATES AND FORECAST BY APPLICATION 2012-2022 ($ MILLION) 31
TABLE 53 REST OF EUROPE MARKET ESTIMATES AND FORECAST2012-2022($MILLION) 31
TABLE 54 REST OF EUROPE MARKET ESTIMATES AND FORECAST BY APPLICATION 2012-2022($MILLION) 31
TABLE 55 ASIA PACIFIC MARKET ESTIMATES AND FORECAST 2012-2022 ($ MILLION) 32
TABLE 56 ASIA PACIFIC MARKET ESTIMATES AND FORECAST BY APPLICATION 2012-2022 ($ MILLION) 32
TABLE 57 ASIA PACIFIC MARKET ESTIMATES AND FORECAST BY REGION 2012-2022 ($ MILLION) 32
TABLE 58 CHINA MARKET ESTIMATES AND FORECAST 2012-2022 ($ MILLION) 32
TABLE 59 CHINA MARKET ESTIMATES AND FORECAST BY APPLICATION 2012-2022 ($ MILLION) 32
TABLE 60 INDIA MARKET ESTIMATES AND FORECAST 2012-2022 ($ MILLION) 32
TABLE 61 INDIA MARKET ESTIMATES AND FORECAST BY APPLICATION 2012-2022 ($ MILLION) 32
TABLE 62 JAPAN MARKET ESTIMATES AND FORECAST 2012-2022 ($ MILLION) 32
TABLE 63 JAPAN MARKET ESTIMATES AND FORECAST BY APPLICATION 2012-2022 ($MILLION) 32
TABLE 64 SOUTH KOREA MARKET ESTIMATES AND FORECAST 2012-2022 ($ MILLION) 32
TABLE 65 SOUTH KOREA MARKET ESTIMATES AND FORECAST BY APPLICATION 2012-2022 ($MILLION) 32
TABLE 66 REST OF APAC MARKET ESTIMATES AND FORECAST 2012-2022 ($ MILLION) 32
TABLE 67 REST OF APAC MARKET ESTIMATES AND FORECAST BY APPLICATION 2012-2022 ($ MILLION) 32
TABLE 68 REST OF THE WORLD MARKET ESTIMATES AND FORECAST 2012-2022 ($ MILLION) 32
TABLE 69 REST OF THE WORLD MARKET ESTIMATES AND FORECAST BY APPLICATION 2012-2022 ($ MILLION) 32
TABLE 70 REST OF THE WORLD MARKET ESTIMATES AND FORECAST BY REGION 2012-2022 ($ MILLION) 32
TABLE 71 LATIN AMERICA MARKET ESTIMATES AND FORECAST 2012-2022 ($ MILLION) 32
TABLE 72 LATIN AMERICA MARKET ESTIMATES AND FORECAST BY APPLICATION 2012-2022 ($ MILLION) 33
TABLE 73 MIDDLE EAST AND AFRICA MARKET ESTIMATES AND FORECAST 2012-2022 ($ MILLION) 33
TABLE 74 MIDDLE EAST AND AFRICA MARKET ESTIMATES AND FORECAST BY APPLICATION 2012-2022 ($ MILLION) 33
FIGURE 1 NORTH AMERICA MARKET ESTIMATES AND FORECAST 2012-2022 ($ MILLION) 33
FIGURE 2 U.S. MARKET ESTIMATES AND FORECAST 2012-2022 ($ MILLION) 33
FIGURE 3 CANADA MARKET ESTIMATES AND FORECAST 2012-2022 ($ MILLION) 33
FIGURE 4 MEXICO MARKET ESTIMATES AND FORECAST 2012-2022 ($ MILLION) 33
FIGURE 5 EUROPE MARKET ESTIMATES AND FORECAST 2012-2022 ($ MILLION) 33
FIGURE 6 GERMANY MARKET ESTIMATES AND FORECAST 2012-2022 ($ MILLION) 33
FIGURE 7 UK MARKET ESTIMATES AND FORECAST 2012-2022 ($ MILLION) 33
FIGURE 8 FRANCE MARKET ESTIMATES AND FORECAST 2012-2022 ($ MILLION) 33
FIGURE 9 SPAIN MARKET ESTIMATES AND FORECAST 2012-2022 ($ MILLION) 33
FIGURE 10 REST OF EUROPE MARKET ESTIMATES AND FORECAST2012-2022($MILLION) 33
FIGURE 11 ASIA PACIFIC MARKET ESTIMATES AND FORECAST 2012-2022 ($ MILLION) 33
FIGURE 12 CHINA MARKET ESTIMATES AND FORECAST 2012-2022 ($ MILLION) 34
FIGURE 13 INDIA MARKET ESTIMATES AND FORECAST 2012-2022 ($ MILLION) 34
FIGURE 14 JAPAN MARKET ESTIMATES AND FORECAST 2012-2022 ($ MILLION) 34
FIGURE 15 SOUTH KOREA MARKET ESTIMATES AND FORECAST 2012-2022 ($ MILLION) 34
FIGURE 16 REST OF APAC MARKET ESTIMATES AND FORECAST 2012-2022 ($ MILLION) 34
FIGURE 17 REST OF THE WORLD MARKET ESTIMATES AND FORECAST 2012-2022 ($ MILLION) 34
FIGURE 18 LATIN AMERICA MARKET ESTIMATES AND FORECAST 2012-2022 ($ MILLION) 34
FIGURE 19 MIDDLE EAST AND AFRICA MARKET ESTIMATES AND FORECAST 2012-2022 ($ MILLION) 34