Smart Microgrid Market

Smart microgrids are modern, miniature versions of today’s huge centralized electricity system. Similar to a centralized grid, microgrids can generate, distribute and regulate the flow of electricity to consumers. They also can be networked with one another as well as with the central grid to increase the capacity, reliability and efficiency of the overall system. Microgrids are not necessarily owned or run by a utility company. They can be built, owned and operated by a community, neighborhood, university, corporation, hospital, individual or any other entity that has legal authority over their power infrastructure (i.e., power lines, generation source, meters, etc.). This allows for private investment in the power system and this along with their relatively small size makes microgrids attractive area for entrepreneurial innovation. Distributed energy, also known as decentralized energy is generated or stored by a variety of small, grid connected devices referred to as distributed energy resources (DER). Many countries generate electricity in large centralized facilities, such as fossil fuel, nuclear power plants, large solar power plants or hydropower plants. These plants transmit electricity for long distances and can negatively affect the environment. Thus, a distributed generation system is used, which allows collection of energy from many sources and may give lower environmental impacts and improved security of supply. 

The increasing adoption of smart microgrid all across the world presents a plethora of opportunities to both electrical and electronics industry participants such as micro-turbine manufacturers, control system suppliers, generator and storage players, and allied industries such as solar PV, and wind turbine among others. The overall market for smart microgrid is poised to grow manifold backed by the need for distributed generation and clean and green energy. Smart microgrids are likely to leapfrog transmission lines as the cell phones leapfrogged the need for telephone land lines.

The smart microgrid market report provides the current size of the global smart microgrid market and forecasts the same for the period 2013-2022. The report provides the profile of all major companies in the smart microgrid market. The report provides the competitive landscape of key players, which indicates the growth strategy of the market. The report also covers the entire value chain for the market from a raw material supplier to an end user. Along with the value chain, this report also provides an in-depth view on the market segmentation such as technology, application, consumption pattern, type and geography, and the drivers and restraints for the smart microgrid market. The technology segment for the global smart microgrid market includes segmentation- by component and by power technology. The application segment for the global smart microgrid market includes segmentation by campus/institutional, commercial, defense & military, and others. The consumption pattern segment for the global smart microgrid market includes segmentation by urban/metropolitan, semi-urban, and rural island. Similarly, the grid type market is segmented by grid connected, off-grid, and hybrid. The geographic analysis contains an in-depth classification for North America, Europe, and APAC, which contain major countries covering the market.

The smart microgrid market report also provides market dynamics such as drivers, restraints, and opportunities. Major drivers include increasing demand and aging infrastructure, need for reliable and secure power, electrification in the third world countries, and regulatory incentives. Major restraints are technological and economic barriers. Apart from the market segmentation, the report also includes the critical market data and qualitative information for each product type along with the qualitative analysis, such as the value chain analysis, and market crackdown analysis.

Major players in the smart microgrid market are ABB Group (Switzerland), Siemens AG (Germany), and GE (U.S.), Lockheed Martin Corporation (U.S.).