Europe Microgrid Market 2022-2028
MARKET OUTLOOK
Triton’s research report infers that the microgrid market in Europe is deemed to progress at a compound annual growth rate of 10.17% in value during the forecasted years 2022-2028. The United Kingdom, France, the Netherlands, Germany, Italy, Spain, and the Rest of Europe are studied in the region.
In France, the EDF Group operates in all power industry segments, including generation, transmission, and distribution. This has led several other companies to enter the power industry, investing significantly in microgrid systems. For instance, recently, Ecosun developed a trailer equipped with 15 solar panels with a storage capacity of 23 kWh that can be used for off-grid applications. Besides this, the government announced its plan to lower the grid fee for renewable power sources, heat pumps, and EV charging stations. These factors are thus expected to elevate the market’s scope over the forecast period.
Similarly, the Italian government has established a new decree to control the cost of electricity and natural gas for businesses. Moreover, the authorities are offering financial aid and introducing initiatives to increase energy production. The decree includes an acceleration plan for renewable energy, which is expected to increase the need for microgrids. Therefore, favorable government measures are set to fuel the microgrid market’s growth across Italy.
COMPETITIVE OUTLOOK
The prominent companies in the microgrid market include Hitachi Ltd, Siemens AG, National Grid Plc, Fairbanks Morse, S&C Electric Company, and Exelon Corporation.
Learn how to effectively navigate the market research process to help guide your organization on the journey to success.
Download eBook