Global Microgrid Market Forecast 2022-2030
KEY FINDINGS
The global microgrid market is estimated to project a CAGR of 11.08% during the forecast period, 2022-2030. The market growth is attributed to the microgrids’ role in mitigating severe weather, the increasing clean energy integration, and the growing global electricity consumption globally.
MARKET INSIGHTS
A microgrid is a self-sufficient local energy grid with control capability. The rising clean energy integration is one of the key growth drivers of the global microgrid market. As per the June 2022 International Energy Agency (IEA) report on World Energy Investment, around 2% of the clean energy investment increased annually in the five years following the 2015 signing of the Paris Agreement. However, the growth rate has drastically surged to 12% after 2020.
Also, the investment is supplemented by the emergence of sustainable finance, especially in industrialized nations, and government assistance. In addition, as per the report, Europe’s investment in 2018 was a 7% decrease from 2018. Besides, over 80% of the investments made in the power sector have gone into storage, grids, and renewables. Moreover, the investment is fast-growing in the power industry with regard to grids, energy efficiency, and grids. It entails developing technologies. Such aspects offer growth opportunities for the global microgrid market. However, the market growth is restrained by the expenses involved in the installation and maintenance of microgrids.
REGIONAL INSIGHTS
The global microgrid market growth assessment includes the geographical evaluation of Asia-Pacific, Europe, North America, and Rest of World. Asia-Pacific is set to be the largest revenue-generating region in the global market, accredited to the lack of infrastructure and collaboration between the governments, energy companies, and international development agencies.
COMPETITIVE INSIGHTS
The market is moderately consolidated, with constantly-evolving technology. Some of the leading firms in the market include National Grid PLC, Hitachi Ltd, Bloom Energy, General Electric Company, etc.
Our report offerings include:
• Explore key findings of the overall market
• Strategic breakdown of market dynamics (Drivers, Restraints, Opportunities, Challenges)
• Market forecasts for a minimum of 9 years, along with 3 years of historical data for all segments, sub-segments, and regions
• Market Segmentation caters to a thorough assessment of key segments with their market estimations
• Geographical Analysis: Assessments of the mentioned regions and country-level segments with their market share
• Key analytics: Porter’s Five Forces Analysis, Vendor Landscape, Opportunity Matrix, Key Buying Criteria, etc.
• The competitive landscape is the theoretical explanation of the key companies based on factors, market share, etc.
• Company profiling: A detailed company overview, product/services offered, SCOT analysis, and recent strategic developments
- 1. Research Scope & Methodology
- 1.1. Study Objectives
- 1.2. Scope Of Study
- 1.3. Methodology
- 1.4. Assumptions & Limitations
- 2. Executive Summary
- 2.1. Market Size & Estimates
- 2.2. Market Overview
- 3. Market Dynamics
- 3.1. Key Drivers
- 3.1.1. Increasing Consumption Of Electricity
- 3.1.2. Rise In Clean Energy Integration
- 3.1.3. Mitigation Of Severe Weather Using Microgrids
- 3.2. Key Restraints
- 3.2.1. Expensive Maintenance & Installation Of Microgrids
- 3.2.2. Regulatory Framework Hurdles For Microgrids
- 4. Key Analytics
- 4.1. Impact Of Covid-19 On Microgrid Market
- 4.2. Key Market Trends
- 4.3. Porter’s Five Forces Analysis
- 4.3.1. Buyers Power
- 4.3.2. Suppliers Power
- 4.3.3. Substitution
- 4.3.4. New Entrants
- 4.3.5. Industry Rivalry
- 4.4. Opportunity Matrix
- 4.5. Vendor Landscape
- 4.6. Value Chain Analysis
- 4.7. Key Buying Criteria
- 4.7.1. Cost Efficiency
- 4.7.2. Product Features
- 4.7.3. End-use
- 4.8. Regulatory Framework
- 5. Market By Type
- 5.1. Grid Connected
- 5.2. Off-grid
- 6. Market By Offering
- 6.1. Hardware
- 6.1.1. Power Generators
- 6.1.2. Controllers
- 6.1.3. Energy Storage
- 6.2. Software
- 6.3. Services
- 7. Market By Consumption Pattern
- 7.1. Semi-urban
- 7.2. Urban/Metropolitan
- 7.3. Rural/Island
- 8. Market By End-user
- 8.1. Commercial & Industrial
- 8.2. Healthcare
- 8.3. Education
- 8.4. Military
- 8.5. Government & Utilities
- 8.6. Other End-users
- 9. Geographical Analysis
- 9.1. North America
- 9.1.1. Market Size & Estimates
- 9.1.2. Key Growth Enablers
- 9.1.3. Key Challenges
- 9.1.4. Key Players
- 9.1.5. Country Analysis
- 9.1.5.1. United States
- 9.1.5.2. Canada
- 9.2. Europe
- 9.2.1. Market Size & Estimates
- 9.2.2. Key Growth Enablers
- 9.2.3. Key Challenges
- 9.2.4. Key Players
- 9.2.5. Country Analysis
- 9.2.5.1. United Kingdom
- 9.2.5.2. Germany
- 9.2.5.3. France
- 9.2.5.4. Italy
- 9.2.5.5. Spain
- 9.2.5.6. Netherlands
- 9.2.5.7. Poland
- 9.2.5.8. Rest Of Europe
- 9.3. Asia-pacific
- 9.3.1. Market Estimates & Sizes
- 9.3.2. Key Growth Enablers
- 9.3.3. Key Challenges
- 9.3.4. Key Players
- 9.3.5. Country Analysis
- 9.3.5.1. China
- 9.3.5.2. Japan
- 9.3.5.3. India
- 9.3.5.4. South Korea
- 9.3.5.5. Indonesia
- 9.3.5.6. Thailand
- 9.3.5.7. Vietnam
- 9.3.5.8. Australia & New Zealand
- 9.3.5.9. Rest Of Asia-pacific
- 9.4. Rest Of World
- 9.4.1. Market Estimates & Sizes
- 9.4.2. Key Growth Enablers
- 9.4.3. Key Challenges
- 9.4.4. Key Players
- 9.4.5. Regional Analysis
- 9.4.5.1. Latin America
- 9.4.5.2. Middle East & Africa
- 10. Competitive Landscape
- 10.1. Key Strategic Developments
- 10.1.1. Mergers & Acquisitions
- 10.1.2. Product Launches & Developments
- 10.1.3. Partnerships & Agreements
- 10.1.4. Business Expansions & Divestitures
- 10.2. Company Profiles
- 10.2.1. Bloom Energy
- 10.2.2. Cummins Inc
- 10.2.3. Duke Energy Corporation
- 10.2.4. Eaton Corporation Plc
- 10.2.5. Exelon Corporation
- 10.2.6. Fairbanks Morse
- 10.2.7. Fuelcell Energy Inc
- 10.2.8. General Electric Company
- 10.2.9. Hitachi Ltd
- 10.2.10. National Grid Plc
- 10.2.11. Nrg Energy Inc
- 10.2.12. Power Engineers Incorporated
- 10.2.13. S&C Electric
- 10.2.14. Schneider Electric Se
- 10.2.15. Siemens Ag
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