Microgrid Market

Microgrid Market by Connectivity (Grid Connected and Off-Grid Connected), Offering (Hardware and Software & Services), End-Use (Commercial & Industrial, Remote, Instituites & Campuses), Grid Type, Pattern, Region - Global Forecast to 2025

Report Code: SE 2881 Feb, 2020, by marketsandmarkets.com
Updated date as on -

The global microgrid market size is projected to reach USD 47.4 billion by 2025 from USD 28.6 billion in 2020, at a CAGR of 10.6%. Major drivers for the market growth are rising demand for clean energy, increasing instances of cyberattacks on the energy infrastructures, growing requirement for reliable & secure global power supply, and rising global deployment of microgrids for rural electrification. Further, the expansion of renewable energy capacity of countries of APAC and government initiatives to encourage the development of microgrids is expected to open new growth opportunities for microgrid developers.

Microgrid Market

Based on end-use, the remote segment to hold the largest share of the microgrid industry

The remote segment accounted for the majority of the global microgrid market share in 2019. The growth of this segment can be attributed to the increased adoption of microgrids in remote areas. According to the International Energy Association, approximately 1 billion people in remote areas around the world lack access to electricity owing to the high costs of fossil fuels used for electricity generation and uncertainty in terms of their availability and issues related to their transportation.

Governments of different countries are increasingly investing in the development of electricity infrastructures to provide low-cost and clean electricity. This has led to an increased demand for microgrids in remote areas. Microgrids established in remote areas to generate power, manage and control distributed energy resources, thus optimizing resources.

Grid-connected connectivity to be the largest shareholder of the microgrid market in the coming years

Grid-connected microgrids comprise multiple generators, distribution systems, and sophisticated controls. The main power grid acts as the main power supply for grid-connected microgrids. These microgrids rely on main power grids for power balance and energy backup. Grid-connected microgrids usually have higher reliability than remote/island microgrids owing to their connection with main power grids.

The growth of this segment can be attributed to the expansion of utility-based grid networks, coupled with the large-scale use of renewable sources of energy, such as offshore wind. Grid-connected microgrids offer grid resiliency and improved quality power. They have a low impact on the environment, thus, driving its demand as clean energy.

Microgrid Market

Americas to account for the largest share of the global microgrid market in 2020

Historically, the Americas accounted for the largest share of the global microgrid industry, and the trend is expected to continue during the forecast period, as represented in the figure. GE, Honeywell, S&C Electric, and Power Analytics are a few key players based in the Americas that have mainly contributed to the growth of the microgrid market in the region.

The microgrid market in the Americas has been studied for North America and South America. The Americas is considered as one of the technologically-advanced regions for microgrids owing to the presence of a large number of developers of microgrids in the region. Additionally, several initiatives, such as the Smart Power Infrastructure Demonstration for Energy Reliability and Security (SPIDERS) program, have been undertaken by governments of different countries in the region to promote the adoption of microgrids.

Key Market Players

ABB (ABB, Switzerland), General Electric Company (GE, US), Siemens AG (Siemens, Germany), Eaton Corporation Inc. (Eaton, Ireland), Schneider Electric SE (Schneider Electric, France), Honeywell International Inc. (Honeywell, US), HOMER Energy LLC (Homer Energy, US), S&C Electric Company (S&C Electric, US), Power Analytics Corporation (Power Analytics, US), and Exelon Corporation (Exelon, US) are a few major players in the global microgrid market.

Report Scope

Report Metric

Details

Market size available for years

2017–2025

Base year considered

2019

Forecast period

2020–2025

Forecast units

Value (USD)

Segments covered

Connectivity, offering, vertical, pattern type, grid type, and region

Regions covered

Americas, Europe, APAC, and RoW

Companies covered

ABB (ABB, Switzerland), General Electric Company (GE, US), Siemens AG (Siemens, Germany), Eaton Corporation Inc (Eaton, Ireland), Schneider Electric SE (Schneider Electric, France), Honeywell International Inc. (Honeywell, US), HOMER Energy LLC (Homer Energy, US), S&C Electric Company (S&C Electric, US), Power Analytics Corporation (Power Analytics, US) and Exelon Corporation (Exelon, US) are a few major players in the microgrid market.

MICROGRID market segmentation:

In this report, the global microgrid market is segmented into the following categories:

By connectivity:

  • Grid Connected
  • Off-Grid/Island/Remote

By offering:

  • Hardware
    • Power Generators
    • Energy Storage & Distributors
    • Controllers
  • Software & Services

Grid Type of microgrid market:

  • AC microgrid
  • DC microgrid
  • Hybrid microgrid

Pattern of microgrid market:

  • Urban
  • Semi-Urban
  • Remote

By End Use:

  • Commercial & Industrial
  • Remote
  • Government
  • Utilities
  • Institutes & Campuses
  • Military
  • Healthcare

Geographic Analysis

  • Americas
  • Europe
  • APAC
  • RoW

Critical questions the report answers:

  • Where will all these developments take the global microgrid industry in the mid to long term?
  • What are emerging application areas that are expected to adopt microgrid?
  • Which end-use of the microgrid market is growing at the highest rate?
  • Which connectivity type of microgrid is expected to penetrate significantly during the forecast period?
  • What hardware segment is the most opportunistic for microgrid developers in the coming years?

To speak to our analyst for a discussion on the above findings, click Speak to Analyst

Table of Contents

1 Introduction (Page No. - 17)
    1.1 Study Objectives
    1.2 Definition and Scope
           1.2.1 Inclusions and Exclusions
    1.3 Study Scope
           1.3.1 Markets Covered
           1.3.2 Regional Scope
           1.3.3 Years Considered
    1.4 Currency
    1.5 Stakeholders

2 Research Methodology (Page No. - 21)
    2.1 Research Data
           2.1.1 Secondary Data
                    2.1.1.1 Key Data From Secondary Sources
           2.1.2 Primary Data
                    2.1.2.1 Breakdown of Primaries
                    2.1.2.2 Key Data From Primary Sources
           2.1.3 Secondary and Primary Research
    2.2 Market Size Estimation
           2.2.1 Bottom-Up Approach
                    2.2.1.1 Approach Used to Arrive at Market Size Using Bottom-Up Analysis (Demand Side)
                    2.2.1.2 Approach for Obtaining Company-Specific Information in Microgrid Value Chain
           2.2.2 Top-Down Approach
                    2.2.2.1 Approach Used to Arrive at Market Size Using Top-Down Analysis (Supply Side)
    2.3 Market Breakdown and Data Triangulation
    2.4 Research Assumptions

3 Executive Summary (Page No. - 32)

4 Premium Insight (Page No. - 36)
    4.1 Attractive Growth Opportunities in Microgrid Market
    4.2 Market, By Connectivity
    4.3 Market in APAC, By End Use and Country
    4.4 Market in Americas, By Connectivity
    4.5 Market, By Region

5 Market Overview (Page No. - 39)
    5.1 Introduction
    5.2 Market Dynamics
           5.2.1 Drivers
                    5.2.1.1 Rising Global Demand for Clean Energy
                    5.2.1.2 Increasing Instances of Cyberattacks on Energy Infrastructures
                    5.2.1.3 Rising Requirement of Reliable and Secure Global Power Supply
                    5.2.1.4 Increasing Adoption of Microgrids for Rural Electrification
           5.2.2 Restraints
                    5.2.2.1 High Installation Costs of Microgrids
           5.2.3 Opportunities
                    5.2.3.1 Expansion of Renewable Energy Capacity of Countries of APAC
                    5.2.3.2 Government Initiatives to Encourage Development of Microgrids
                    5.2.3.3 Increased Demand for Microgrids From Different Verticals
           5.2.4 Challenges
                    5.2.4.1 Technical Issues Faced During Operation of Island Mode Microgrids
                    5.2.4.2 Lack of Regulatory Frameworks Related to Operations of Microgrids
    5.3 Value Chain Analysis
           5.3.1 Planning/Research and Development (R&D)
           5.3.2 Component Providers and System Integrators
           5.3.3 Marketing
           5.3.4 Project Development and Construction
           5.3.5 Project Financing
           5.3.6 End Users
           5.3.7 After-Sales Services

6 Microgrid Market, By Connectivity (Page No. - 47)
    6.1 Introduction
    6.2 Off-Grid Connected
           6.2.1 Americas Held Largest Size of Off-Grid Connected Market in 2019
    6.3 Grid Connected
           6.3.1 Grid Connected Segment Accounted for Largest Size of Market in 2019

7 Types of Microgrids (Page No. - 51)
    7.1 Introduction
    7.2 AC Microgrids
           7.2.1 AC Microgrids Eliminate Requirement of Inverters to Supply Power to AC Loads
    7.3 DC Microgrids
           7.3.1 DC Microgrids Offer High Efficiency, Reliability, and Stability
    7.4 Hybrid
           7.4.1 Hybrid Microgrids Use Different Sources for Power Generation

8 Patterns of Microgrids (Page No. - 53)
    8.1 Introduction
    8.2 Urban/Metropolitan
           8.2.1 Development of Microgrids in Urban Areas to Ensure Uninterrupted Power Supply Leading to Growth of Market
    8.3 Semiurban
           8.3.1 Massive Electrification Plans Undertaken By Governments of Different Countries to Develop Microgrids for Semiurban Areas
    8.4 Rural/Island
           8.4.1 Large Number of Electrification Projects Being Carried Out in Rural Areas/Islands Leading to Growth of Market

9 Microgrid Market, By Offering (Page No. - 55)
    9.1 Introduction
    9.2 Hardware
           9.2.1 Power Generators
                    9.2.1.1 Power Generators Segment to Account for Largest Size of Microgrid Hardware Market From 2020 to 2025
           9.2.2 Energy Storage Systems
                    9.2.2.1 Use of Energy Storage Systems as Primary Component in Microgrids
           9.2.3 Controllers
                    9.2.3.1 Controllers Monitor and Optimally Carry Out Different Functions of Microgrids to Manage Them
    9.3 Software & Services
           9.3.1 Software & Services Segment of Market Projected to Grow at High CAGR From 2020 to 2025

10 Microgrid Market, By End Use (Page No. - 62)
     10.1 Introduction
     10.2 Commercial & Industrial
             10.2.1 Commercial & Industrial Segment of Market to Grow at Highest CAGR From 2020 to 2025
     10.3 Remote
             10.3.1 Market in APAC for Remote to Grow at Highest CAGR From 2020 to 2025
     10.4 Institutes & Campuses
             10.4.1 Increased Adoption of Microgrids in Institutes & Campuses to Ensure Improved Quality and Uninterrupted Power Supply
     10.5 Government
             10.5.1 Decline in Prices of Electricity Generated From Renewable Sources of Energy Leading to Adoption of Microgrids in Government Sector
     10.6 Utilities
             10.6.1 Microgrids Enable Utilities to Increase Their Energy Resilience
     10.7 Military
             10.7.1 Military Establishments Use Microgrids for Energy Resiliency
     10.8 Healthcare
             10.8.1 Rise in Adoption of Microgrids in Hospitals to Prevent Power Outages in Them

11 Geographic Analysis (Page No. - 71)
     11.1 Introduction
     11.2 Americas
             11.2.1 North America
                        11.2.1.1 US
                                     11.2.1.1.1 US to Dominate Market in North America From 2020 to 2025
                        11.2.1.2 Rest of North America
             11.2.2 South America
                        11.2.2.1 Brazil
                                     11.2.2.1.1 Brazil to Dominate Market in South America From 2020 to 2025
                        11.2.2.2 Rest of South America
     11.3 Europe
             11.3.1 UK
                        11.3.1.1 Rise in Use of Microgrids in UK to Reduce Waste Heat Generated By Traditional Systems
             11.3.2 Germany
                        11.3.2.1 Germany is Key Consumer of Microgrids in Europe
             11.3.3 France
                        11.3.3.1 Increase in Government Investments to Promote Adoption of Microgrids in France
             11.3.4 Rest of Europe
     11.4 APAC
             11.4.1 Australia
                        11.4.1.1 Australia to Lead Market in APAC From 2020 to 2025
             11.4.2 China
                        11.4.2.1 Rise in Adoption of Microgrids in China to Ensure Energy Security
             11.4.3 Japan
                        11.4.3.1 Increased Investments to Ensure Energy Security Contributing to Growth of Market in Japan
             11.4.4 Rest of APAC
     11.5 RoW
             11.5.1 Middle East
                        11.5.1.1 Growth of Healthcare Sector and Rise in Demand for Reliable Power Supply Contribute to Growth of Market in Middle East
             11.5.2 Africa
                        11.5.2.1 Africa to Account for Large Share of Market in RoW From 2020 to 2025

12 Competitive Landscape (Page No. - 99)
     12.1 Overview
     12.2 Ranking Analysis of Key Players in Market
     12.3 Competitive Situations and Trends
             12.3.1 Product Launches/Developments
             12.3.2 Agreements
             12.3.3 Collaborations
             12.3.4 Contracts
             12.3.5 Expansions
             12.3.6 Partnerships
             12.3.7 Acquisitions
     12.4 Competitive Leadership Mapping, 2019
             12.4.1 Visionary Leaders
             12.4.2 Dynamic Differentiators
             12.4.3 Innovators
             12.4.4 Emerging Companies

13 Company Profile (Page No. - 108)
(Business Overview, Products/Software/Solutions/Services Offered, Recent Developments, SWOT Analysis, and MnM View)*
     13.1 Key Players
             13.1.1 ABB
             13.1.2 General Electric (GE)
             13.1.3 Siemens
             13.1.4 Eaton
             13.1.5 Schneider Electric
             13.1.6 Honeywell
             13.1.7 HOMER Energy
             13.1.8 S&C Electric
             13.1.9 Power Analytics
             13.1.10 Exelon Corporation
     13.2 Right to Win
     13.3 Other Important Players
             13.3.1 Pareto Energy
             13.3.2 Anbaric Transmission
             13.3.3 Tesla
             13.3.4 Spirae
             13.3.5 General Microgrids
             13.3.6 Gram Power
             13.3.7 Powerhive
             13.3.8 Advanced Microgrid Solutions (AMS)
             13.3.9 Go Electric
             13.3.10 Dajie

*Details on Business Overview, Products/Software/Solutions/Services Offered, Recent Developments, SWOT Analysis, and MnM View Might Not Be Captured in Case of Unlisted Companies.

14 Appendix (Page No. - 137)
     14.1 Insights From Industry Experts
     14.2 Discussion Guide
     14.3 Knowledge Store: Marketsandmarkets’ Subscription Portal
     14.4 Available Customizations
     14.5 Related Reports
     14.6 Author Details


List of Tables (101 Tables)

Table 1 Microgrid Market, By Connectivity, 2017–2025 (USD Billion)
Table 2 Off-Grid Connected Market, By Region, 2017–2025 (USD Billion)
Table 3 Off-Grid Connected Market in Americas, By Region, 2017–2025 (USD Billion)
Table 4 Grid Connected Market, By Region, 2017–2025 (USD Billion)
Table 5 Grid Connected Market in Americas, By Region, 2017–2025 (USD Billion)
Table 6 Microgrid Market, By Offering, 2017–2025 (USD Billion)
Table 7 Microgrid Hardware Market, By Type, 2017–2025 (USD Billion)
Table 8 Microgrid Hardware Market, By Region, 2017–2025 (USD Billion)
Table 9 Microgrid Hardware Market in Americas, By Region, 2017–2025 (USD Billion)
Table 10 Microgrid Hardware Market for Power Generators, By Region, 2017–2025 (USD Billion)
Table 11 Microgrid Hardware Market in Americas for Power Generators, By Region, 2017–2025 (USD Billion)
Table 12 Microgrid Hardware Market for Energy Storage Systems, By Region, 2017–2025 (USD Million)
Table 13 Microgrid Hardware Market in Americas for Energy Storage Systems, By Region, 2017–2025 (USD Million)
Table 14 Microgrid Hardware Market for Controllers, By Region, 2017–2025 (USD Million)
Table 15 Microgrid Hardware Market in Americas for Controllers, By Region, 2017–2025 (USD Million)
Table 16 Microgrid Software & Services Market, By Region, 2017–2025 (USD Billion)
Table 17 Microgrid Software & Services Market in Americas, By Region, 2017–2025 (USD Billion)
Table 18 Microgrid Market, By End Use, 2017–2025 (USD Billion)
Table 19 Market for Commercial & Industrial, By Region, 2017–2025 (USD Billion)
Table 20 Market in Americas for Commercial & Industrial, By Region, 2017–2025 (USD Billion)
Table 21 Market for Remote, By Region, 2017–2025 (USD Billion)
Table 22 Market in Americas for Remote, By Region, 2017–2025 (USD Billion)
Table 23 Market for Institutes & Campuses, By Region, 2017–2025 (USD Million)
Table 24 Market in Americas for Institutes & Campuses, By Region, 2017–2025 (USD Million)
Table 25 Market for Government, By Region, 2017–2025 (USD Million)
Table 26 Market in Americas for Government, By Region, 2017–2025 (USD Million)
Table 27 Market for Utilities, By Region, 2017–2025 (USD Million)
Table 28 Market in Americas for Utilities, By Region, 2017–2025 (USD Million)
Table 29 Market for Military, By Region, 2017–2025 (USD Million)
Table 30 Market in Americas for Military, By Region, 2017–2025 (USD Million)
Table 31 Market for Healthcare, By Region, 2017–2025 (USD Million)
Table 32 Market in Americas for Healthcare, By Region, 2017–2025 (USD Million)
Table 33 Microgrid Market, By Region, 2017–2025 (USD Billion)
Table 34 Market in Americas, By Region, 2017–2025 (USD Billion)
Table 35 Market in Americas, By Connectivity, 2017–2025 (USD Billion)
Table 36 Market in Americas, By Offering, 2017–2025 (USD Billion)
Table 37 Microgrid Hardware Market in Americas, By Type, 2017–2025 (USD Billion)
Table 38 Market in Americas, By End Use, 2017–2025 (USD Million)
Table 39 Market in North America, By Country, 2017–2025 (USD Billion)
Table 40 Market in North America, By Connectivity, 2017–2025 (USD Billion)
Table 41 Market in North America, By Offering, 2017–2025 (USD Billion)
Table 42 Microgrid Hardware Market in North America, By Type, 2017–2025 (USD Billion)
Table 43 Market in North America, By End Use, 2017–2025 (USD Million)
Table 44 Market in Us, By Offering, 2017–2025 (USD Billion)
Table 45 Microgrid Projects Carried Out in US From 2017 to 2019
Table 46 Market in Rest of North America, By Offering, 2017–2025 (USD Million)
Table 47 Microgrid Projects Carried Out in Canada From 2017 to 2019
Table 48 Market in South America, By Country, 2017–2025 (USD Billion)
Table 49 Market in South America, By Connectivity, 2017–2025 (USD Billion)
Table 50 Market in South America, By Offering, 2017–2025 (USD Billion)
Table 51 Microgrid Hardware Market in South America, By Type, 2017–2025 (USD Million)
Table 52 Market in South America, By End Use, 2017–2025 (USD Million)
Table 53 Market in Brazil, By Offering, 2017–2025 (USD Million)
Table 54 Market in Rest of South America, By Offering, 2017–2025 (USD Million)
Table 55 Market in Europe, By Country, 2017–2025 (USD Million)
Table 56 Market in Europe, By Connectivity, 2017–2025 (USD Billion)
Table 57 Market in Europe, By Offering, 2017–2025 (USD Billion)
Table 58 Microgrid Hardware Market in Europe, By Type, 2017–2025 (USD Million)
Table 59 Market in Europe, By End Use, 2017–2025 (USD Million)
Table 60 Microgrid Projects Carried Out in Europe From 2017 to 2019
Table 61 Market in Uk, By Offering, 2017–2025 (USD Million)
Table 62 Microgrid Projects Carried Out in UK From 2017 to 2018
Table 63 Market in Germany, By Offering, 2017–2025 (USD Million)
Table 64 Market in France, By Offering, 2017–2025 (USD Million)
Table 65 Market in Rest of Europe, By Offering, 2017–2025 (USD Million)
Table 66 Microgrid Projects Carried Out in Rest of Europe From 2017 to 2019
Table 67 Market in APAC, By Country, 2017–2025 (USD Billion)
Table 68 Market in APAC, By Connectivity, 2017–2025 (USD Billion)
Table 69 Market in APAC, By Offering, 2017–2025 (USD Billion)
Table 70 Microgrid Hardware Market in APAC, By Type, 2017–2025 (USD Billion)
Table 71 Market in APAC, By End Use, 2017–2025 (USD Million)
Table 72 Market in Australia, By Offering, 2017–2025 (USD Million)
Table 73 Microgrid Projects Carried Out in Australia From 2017 to 2019
Table 74 Market in China, By Offering, 2017–2025 (USD Million)
Table 75 Microgrid Projects Carried Out in China From 2017 to 2018
Table 76 Market in Japan, By Offering, 2017–2025 (USD Million)
Table 77 Market in Rest of APAC, By Offering, 2017–2025 (USD Million)
Table 78 Microgrid Projects Carried Out in Rest of APAC From 2017 to 2018
Table 79 Market in RoW, By Region, 2017–2025 (USD Billion)
Table 80 Market in RoW, By Connectivity, 2017–2025 (USD Billion)
Table 81 Market in RoW, By Offering, 2017–2025 (USD Billion)
Table 82 Microgrid Hardware Market in RoW, By Type, 2017–2025 (USD Million)
Table 83 Market in RoW, By End Use, 2017–2025 (USD Million)
Table 84 Market in Middle East, By Connectivity, 2017–2025 (USD Million)
Table 85 Market in Middle East, By Offering, 2017–2025 (USD Billion)
Table 86 Microgrid Hardware Market in Middle East, By Type, 2017–2025 (USD Million)
Table 87 Market in Middle East, By End Use, 2017–2025 (USD Million)
Table 88 Microgrid Projects Carried Out in Middle East in 2018
Table 89 Market in Africa, By Connectivity, 2017–2025 (USD Billion)
Table 90 Market in Africa, By Offering, 2017–2025 (USD Billion)
Table 91 Microgrid Hardware Market in Africa, By Type, 2017–2025 (USD Million)
Table 92 Market in Africa, By End Use, 2017–2025 (USD Million)
Table 93 Microgrid Projects Carried Out in Africa From 2018 to 2019
Table 94 Microgrid Market: Ranking of Key Companies in 2019
Table 95 Product Launches/Developments, 2017–2019
Table 96 Agreements, 2018–2019
Table 97 Collaborations, 2017–2018
Table 98 Contracts, 2017–2019
Table 99 Expansions, 2017
Table 100 Partnerships, 2018–2019
Table 101 Acquisitions, 2018–2019


List of Figures (39 Figures)

Figure 1 Market Segmentation
Figure 2 Microgrid Market: Research Design
Figure 3 Market Size Estimation Methodology: Approach 1 (Supply Side): Revenue Generated From Sales of Microgrids
Figure 4 Market Size Estimation Methodology: Approach 2 (Supply Side): Revenue From Hardware/Software & Services of Microgrids
Figure 5 Market Size Estimation Methodology: Approach 3 (Demand Size) – Bottom-Up Approach for Estimation of Size of Market Based on Region
Figure 6 Market Size Estimation Methodology: Bottom-Up Approach
Figure 7 Market Size Estimation Methodology: Top-Down Approach
Figure 8 Data Triangulation Methodology
Figure 9 Grid Connected Segment to Lead Market From 2020 to 2025
Figure 10 Hardware Offering Segment to Account for Large Size of Market From 2020 to 2025
Figure 11 Power Generators Segment to Account for Largest Size of Microgrid Hardware Market From 2020 to 2025
Figure 12 Remote End Use Segment Held Largest Share of Market in 2019
Figure 13 Americas Accounted for Largest Share of Market in 2019
Figure 14 Rising Global Demand for Clean Energy Driving Growth of Market
Figure 15 Off-Grid Connected Segment to Account for Large Size of Market From 2020 to 2025
Figure 16 Remote Segment and Australia to Account for Largest Shares of Market in APAC in 2025
Figure 17 Grid Connected Segment to Lead Market in Americas From 2020 to 2025
Figure 18 Market in APAC to Grow at Highest CAGR From 2020 to 2025
Figure 19 Microgrid Market: Drivers, Restraints, Opportunities, and Challenges
Figure 20 ABB Microgrid Projects, 2000–2019
Figure 21 Drivers and Their Impact on Market
Figure 22 Restraints and Their Impact on Market
Figure 23 Opportunities and Their Impact on Market
Figure 24 Challenges and Their Impact on Market
Figure 25 Value Chain Analysis: Microgrid Market
Figure 26 Drivers of Microgrid Market in Urban/Metropolitan
Figure 27 Market in Australia to Grow at Highest CAGR From 2020 to 2025
Figure 28 Americas: Microgrid Market Snapshot
Figure 29 Europe: Market Snapshot
Figure 30 APAC: Market Snapshot
Figure 31 Product Launches/ Developments Key Growth Strategy From 2017 to 2019
Figure 32 Market (Global) Competitive Leadership Mapping, 2019
Figure 33 ABB: Company Snapshot
Figure 34 General Electric: Company Snapshot
Figure 35 Siemens: Company Snapshot
Figure 36 Eaton: Company Snapshot
Figure 37 Schneider Electric: Company Snapshot
Figure 38 Honeywell: Company Snapshot
Figure 39 Exelon: Company Snapshot

The study involved four major activities in estimating the current size of the microgrid market. Exhaustive secondary research was done to collect information on the market, the peer markets, and the parent market. The next step was to validate these findings, assumptions, and sizing with industry experts across the value chain through primary research. Both top-down and bottom-up approaches were employed to estimate the complete market size. Thereafter, market breakdown and data triangulation were used to estimate the market size of segments and subsegments.

Secondary Research

Secondary sources referred to in this research study include corporate filings (such as annual reports, investor presentations, and financial statements); trade, business, and professional associations; white papers, microgrid-related journals, IEST publications; directories; and databases. The secondary data has been collected and analyzed to arrive at the overall market size estimations, which has been further validated by primary research.

Primary Research

In the primary research process, various primary sources from both supply and demand sides have been interviewed to obtain qualitative and quantitative information relevant to this report. Extensive primary research has been conducted after understanding and analyzing the microgrid market through secondary research. Several primary interviews have been conducted with key opinion leaders from both demand- and supply-side vendors across four regions: the Americas, Europe, APAC, and RoW. RoW comprises the Middle East and Africa. Approximately 25% of the primary interviews have been conducted with the demand side and 75% with the supply side. This primary data has been collected mainly through telephonic interviews, which accounted for 80% of the total primary interviews. Besides, questionnaires and emails were also used to collect the data.

Microgrid Market

To know about the assumptions considered for the study, download the pdf brochure

Market Size Estimation

Both top-down and bottom-up approaches were implemented to estimate and validate the total size of the microgrid market. These methods were also used extensively to estimate the size of the markets based on various subsegments. The research methodology used to estimate the market size includes the following steps:

  • The key players in the industry and markets have been identified through extensive secondary research.
  • The industry’s supply chain and market size, in terms of value, have been determined through primary and secondary research processes.
  • All percentage shares, splits, and breakdowns have been determined using secondary sources and verified through primary sources.

Data Triangulation

After arriving at the overall market size—using the market size estimation processes as explained above—the market was split into several segments and subsegments. To complete the overall market engineering process and arrive at the exact statistics of each market segment and subsegment, data triangulation, and market breakdown procedures were employed, wherever applicable. The data was triangulated by studying various factors and trends from the demand and supply sides across different end-use applications.

Study Objectives

  • To describe and forecast the microgrid market, in terms of value, is segmented into connectivity, offering, and vertical
  • To describe and forecast the market size  by regions—Americas, Europe, Asia Pacific (APAC), and Rest of the World (RoW)
  • To provide detailed information regarding the major factors such as drivers, restraints, opportunities, and challenges influencing the growth of the market
  • To describe the pattern type and grid type of microgrid
  • To strategically analyze micromarkets1 with respect to individual growth trends, prospects, and their contributions to the overall market
  • To analyze opportunities in the market for stakeholders and provide a detailed competitive landscape of the market
  • To strategically profile key players in the market and comprehensively analyze their market ranking and core competencies2
  • To analyze competitive developments such as contracts, product launches/developments, expansions, collaboration, agreements and research and development (R&D) activities carried out by players in the microgrid market

Available Customizations

With the given market data, MarketsandMarkets offers customizations according to a company's specific needs. The following customization options are available for this report:

Regional Analysis

  • Country-wise breakdown for America, Europe, APAC, and RoW

Company Information

  • Detailed analysis and profiling of additional market players (up to 5)
Report Code
SE 2881
Published ON
Feb, 2020
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