HOME Research Insight ABB Ltd. (Switzerland), General Electric (U.S.) and Siemens AG (Germany) are leading players in Microgrid as a Service (MaaS) Market



ABB Ltd. (Switzerland), General Electric (U.S.) and Siemens AG (Germany) are leading players in Microgrid as a Service (MaaS) Market


The demand for microgrid as a service (MaaS) is increasing because of high investments by governments in microgrid infrastructure and increasing demand from hospitals, universities, and remote areas. The MaaS market was valued at USD 774.9 Million in 2015 and is expected to reach USD 2,241.6 Million by 2022, at a CAGR of 15.86% during the forecast period. In 2105, the Americas was the largest market and is expected to dominate the global MaaS market during the forecast period. However, APAC is expected to exhibit the fastest growth in the MaaS market during the forecast period. The market growth in APAC can be attributed to the high investments in the microgrid infrastructure and increasing need for continuous, uninterrupted, and reliable supply of power and electricity.

A significant decline in cost of wind and solar PV in the last few years and high investment by governments in microgrid infrastructure for improved resilience is expected to drive the demand for MaaS in the coming years. MaaS provides communities with a way to use locally generated energy to hedge energy costs, while powering critical facilities when the central grid is unavailable. Microgrids can increase energy security and reliability to support critical loads, but can also be implemented at smaller scales to bring power to areas that would not otherwise receive power. Some of the major companies operating in the global MaaS market include ABB Ltd. (Switzerland), General Electric (U.S.), Siemens AG (Germany), Eaton Corp. PLC (Ireland), Exelon Corp. (U.S.), NRG Energy, Inc. (U.S.), Anbaric Transmission (U.S.), Pareto Energy (U.S.), Spirae, Inc. (U.S.), Green Energy Corporation (U.S.), SolarCity Corporation (U.S.), Schneider Electric SE (France), Duke Energy Corporation (U.S.), and Northern Power Systems Corp. (U.S.), among others.

Top 3 players in the MaaS market:

ABB Ltd. (Switzerland) held a leading position in the MaaS market in 2015 because the company primarily focuses on new projects and partnerships to maintain its market presence globally. For instance, ABB recently entered into a partnership with Samsung SDI, in March 2015, to promote microgrid solutions globally. The company also focuses on new product launches and developments; recently, in September 2015, ABB installed an integrated solar-diesel microgrid at Johannesburg, South Africa which would help to maximize the use of clean solar energy and ensure uninterrupted power supply, even in the event of a power outage on the main grid supply.

General Electric (U.S.) ranked second in the microgrid market. The company aims to expand its power system business by focusing on inorganic strategies such as acquisitions. For instance, in November 2015, GE completed acquisition of Alstom SAs power business for an amount worth USD 9.5 billion to expand in the power and energy business. GE also focuses on partnerships to sustain in the global microgrid market. For instance, in December 2014, GE, along with National Grid, the Department of Energy (DOE), National Renewable Energy Laboratory (NREL), and Clarkson University, announced a partnership on a research project to improve the reliability and resiliency of electricity delivery in northern New York.

Siemens AG (Germany) was ranked third in the microgrid market in 2015. To maintain a leading position in the market, the company focuses majorly on partnerships and collaborations to sustain in the microgrid market. For instance, in November 2014, Siemens partnered with LG Chem (South Korea) to supply converters and controllers for the joint storage solutions and handle project planning and implementation as well as integration of storage systems into distribution grids and microgrids. The company has also made recent product development in the microgrid software market. For instance, in March 2015, Siemens introduced microgrid management software named Spectrum Power 7 Microgrid Management System (SP7 MGMS) that allows microgrid operators to dynamically manage and control distributed energy resources through integrated weather and load forecasting.

The stakeholders involved in the value chain of this market include microgrid hardware vendors, microgrid application vendors, investors, system integrators, and project operators, among others.

Related Reports:

Microgrid as a Service (MaaS) Market by Grid Type (Grid Connected, and Remote or Islanded), Service Type (Engineering & Design, SAAS, Monitoring & Control, and Operation & Maintenance), Vertical, and Geography - Global Forecast to 2022

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