Global Microgrid Market Trends, Applications, Analysis, Growth, and Forecast: 2018 to 2027

Marketresearch.biz delivers in-depth insights on the global microgrid market in its upcoming report titled, “Global Microgrid Market Trends, Applications, Analysis, Growth, and Forecast: 2018 to 2027”. The global microgrid market is estimated to register a CAGR of XX.X% in terms of value during forecast period 2018–2027. The report offers in-depth insights, revenue details, and other vital information regarding the target market, and the various trends, drivers, restraints, opportunities, and threats till 2027. The report offers insightful and detailed information regarding the various key players operating in the market, their financials, supply chain trends, technological innovations, key developments, apart from future strategies, acquisitions & mergers, and market footprint. The global microgrid market report has been segmented on the basis of connectivity, application, and region.

A microgrid is a small network of power grids and distributed energy source that operate independently or are connected to the national grid. The commonly used power source for microgrids are combined heat & power (CHP), natural gas, diesel, solar PV, etc. currently combined heat and power (CHP) is used, but over the time natural gas and solar PV are expected to be used, owing to increasing demand for cleaner energy source.

Rising energy demand across the global and increasing demand for automated distribution systems are major factors driving growth of the global microgrid market. In addition, rapid development in industrial sector is another factor further boosting demand for microgrids in the global market. Moreover, increasing adoption and integration of internet of things (IoT) by utility sector is another factor further propelling growth of the target market.

High capital investments and high installation cost are major factors hampering growth of the global microgrid market. In addition, associated technological risk and stringent government policies and regulations are other factors hampering growth of the global market. Increasing adoption of microgrids for rural electrification projects is expected to create lucrative business opportunities for major vendors in the global market over the next 10 years. For instance, Tata Power Delhi Distribution (TPDDL) has planned to set up pilot solar microgrids in two villages Bihar in partnership with the Massachusetts Institute of Technology Center for Energy and Environmental Policy Research, General Electric and Tata Trust.

North America market dominates the global market with a share of XX.X% in the global microgrid market and is expected to maintain its dominance over the forecast period. Presence of major manufacturers and vendors and increasing deployment of microgrids in government and commercial sectors are major factors driving growth of the North America microgrid market. The Europe microgrid market is expected to witness considerable growth over the forecast period. The Asia Pacific microgrid market is expected to witness significant growth and is projected to register a CAGR of XX.X% over the forecast period. This growth can be attributed to rapid industrialization in countries in this region and increasing number of electrification projects in rural areas in India.

Global Microgrid Market Segmentation:

Segmentation on the basis of connectivity:

• Remote
• Grid connected
• Hybrid

 Segmentation on the basis of application:

• Government
• Education
• Industrial
• Healthcare
• Utility
• Defense
• Others

Segmentation on the basis of region:

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East & Africa