Microgrid Market by Connectivity (Grid Connected and Off-grid Connected), Type (AC Microgrids, DC Microgrids, and Hybrid) and End User (Commercial & Industrial, Government, Healthcare, Remote, Utility, and Others): Global Opportunity Analysis and Industry Forecast, 2020–2030
The global microgrid market was valued at $15.88 Billion in 2020, and is projected to reach $59.74 Billion by 2030, registering a CAGR of 14.9% from 2021 to 2030.
A microgrid is a self-reliant, localized energy system that serves a specific area including a hospital complex, college campus and business center. It can operate autonomously without any support of a centralized grid. A microgrid can also function when connected to the main grid and even when it is not connected to the main grid and acts as an electrical island. It helps in reduction of harmful emissions resulting in optimal use of renewable resources and improved efficiency, and long-term predictable energy cost.
The scope of the report discusses potential opportunities for market players to enter the global microgrid market. This report also provides in-depth analysis of the market, outlining current trends, key driving factors, and key areas of investment. The report includes Porter’s five forces analysis to understand the competitive scenario of the industry and role of each stakeholder in the value chain. The report features strategies adopted by key market players to maintain their foothold in the market.
The microgrid market is analyzed by connectivity, type, end user, and region. By connectivity, the market is divided into Grid Connected and Off-grid Connected. By type, it is classified into AC Microgrids, DC Microgrids, and Hybrid. By end user, it is categorized into Commercial & Industrial, Government, Healthcare, Remote, Utility, and Others. By region, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA along with their prominent countries.
The key players profiled in the report include ABB, General Electric, Siemens, Eaton Corporation, Honeywell, Schneider Electric, S&C Electric, Spirae Inc., Exelon Corporation, and Pareto Energy. These key players have adopted strategies, such as product portfolio expansion, mergers & acquisitions, agreements, geographical expansion, and collaborations to enhance their market penetration.
KEY MARKET SEGMENTS
BY y Connectivity
Grid Connected
Off-grid Connected
By Type
AC Microgrids
DC Microgrids
Hybrid
By End Use
Commercial & Industrial
Government
Healthcare
Remote
Utilitty
Others (Utilities, Remote, Military Institutes & Campuses)
By Region
North America
U.S.
Canada
Mexico
Europe
UK
Germany
France
Rest of Europe
Asia-Pacific
China
Japan
South Korea
Rest of Asia-Pacific
LAMEA
Latin America
Middle East
Africa
List of Company Profiles
ABB
General Electric
Siemens
Eaton Corporation
Honeywell
Schneider Electric
S&C Electric
Spirae Inc.
Exelon Corporation
and Pareto Energy.
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