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

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

Microgrid is a localized power system comprised of distributed generation assets, energy storage devices, and smart distribution technologies that interoperates through controls and software-based intelligence systems.

Microgrid is among the most promising tools of modern distribution networks due to their versatility. Once fully customized to the electricity and heating needs of a specific end user, they can simultaneously deliver enhanced reliability, energy and cost efficiency as well as environmental benefits. Microgrid for critical infrastructure (schools, hospitals, universities, wastewater treatment plants, etc.), mainly in cities and small communities, will grow fastest by project number within the next five years, driven by CHP incentives and State resiliency programs along the East Coast, while military Microgrid will add significant additional capacity to the current microgrid landscape.

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

This Insight Report provides a comprehensive analysis of the global Microgrid Technology 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 Technology portfolios and capabilities, market entry strategies, market positions, and geographic footprints, to better understand these firms’ unique position in an accelerating global Microgrid Technology market.

This Insight Report evaluates the key market trends, drivers, and affecting factors shaping the global outlook for Microgrid Technology 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 Technology.

The global Microgrid Technology market size is projected to grow from US$ 19160 million in 2022 to US$ 49200 million in 2029; it is expected to grow at a CAGR of 14.4% from 2023 to 2029.

Global Microgrid Technology main players are ABB, GE, Echelon, NEC , Aquion Energy, etc. Global top five manufacturers hold a share over 25%. North America is the largest market, with a share nearly 45%.

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

Market Segmentation:

Segmentation by type
Grid-Tied Type Microgrid
Independent Type Microgrid

Segmentation by application
Commercial/Industrial
Community/Utility
Campus/Institutional
Military
Remote
Others

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
GE
Echelon
S&C Electric
Siemens
General Microgrids
Microgrid Solar
Raytheon
Sunverge Energy
Toshiba
NEC
Aquion Energy
EnStorage
SGCC
Moixa
EnSync
Ampard
Green Energy Corp
Growing Energy Labs Inc
HOMER Energy
Spirae

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