Global Microgrid Market Growth (Status and Outlook) 2023-2029

Global Microgrid Market Growth (Status and Outlook) 2023-2029

A microgrid is a small power grid with defined boundaries that can operate both when connected to the larger electrical grid and as an "island" when there's an interruption on the main grid. It draws on distributed energy resources, like solar power, to serve customers within the microgrid footprint. These benefits extend to surrounding communities, with reliable energy allowing better access to food, supplies and public services.

LPI (LP Information)' newest research report, the “Microgrid Industry Forecast” looks at past sales and reviews total world Microgrid sales in 2022, providing a comprehensive analysis by region and market sector of projected Microgrid sales for 2023 through 2029. With Microgrid sales broken down by region, market sector and sub-sector, this report provides a detailed analysis in US$ millions of the world Microgrid industry.

This Insight Report provides a comprehensive analysis of the global Microgrid landscape and highlights key trends related to product segmentation, company formation, revenue, and market share, latest development, and M&A activity. This report also analyzes the strategies of leading global companies with a focus on Microgrid portfolios and capabilities, market entry strategies, market positions, and geographic footprints, to better understand these firms’ unique position in an accelerating global Microgrid market.

This Insight Report evaluates the key market trends, drivers, and affecting factors shaping the global outlook for Microgrid and breaks down the forecast by type, by application, geography, and market size to highlight emerging pockets of opportunity. With a transparent methodology based on hundreds of bottom-up qualitative and quantitative market inputs, this study forecast offers a highly nuanced view of the current state and future trajectory in the global Microgrid.

The global Microgrid market size is projected to grow from US$ 28130 million in 2022 to US$ 62830 million in 2029; it is expected to grow at a CAGR of 12.2% from 2023 to 2029.

Global microgrid key players include ABB, NEC, GE, Aquion Energy, Echelon, etc. Global top 5 players hold a share about 25%.

North America is the largest market, with a share about 41%, followed by Asia-Pacific, having a total share about 40 percent.

In terms of product, grid-tied is the largest segment, with a share about 78%. And in terms of application, the largest application is commercial or industrial microgrid.

This report presents a comprehensive overview, market shares, and growth opportunities of Microgrid market by product type, application, key players and key regions and countries.

Market Segmentation:

Segmentation by type

Grid-Tied

Independent

Segmentation by application

Commercial or Industrial Microgrid

Community or Utility Microgrid

Campus or Institutional Microgrid

Military Microgrid

Remote Microgrid

This report also splits the market by region:

Americas

United States

Canada

Mexico

Brazil

APAC

China

Japan

Korea

Southeast Asia

India

Australia

Europe

Germany

France

UK

Italy

Russia

Middle East & Africa

Egypt

South Africa

Israel

Turkey

GCC Countries

The below companies that are profiled have been selected based on inputs gathered from primary experts and analyzing the company's coverage, product portfolio, its market penetration.

ABB

NEC

GE

Aquion Energy

Echelon

Raytheon

SandC Electric Co

Eaton Corporation

Sunverge Energy

Siemens

Toshiba

General Microgrids

Lockheed Martin

Please note: The report will take approximately 2 business days to prepare and deliver.