Microgrid Market by Connectivity (Grid Connected, Off-grid), Offering (Hardware (Power Generators, Controllers, Energy Storage Systems), Software, Services), Power Source, End User, Power Rating and Region - Global Forecast to 2029
Updated on : October 22, 2024
Microgrid Market Size & Growth
The global microgrid market size is estimated to be USD 37.6 billion in 2024 and is projected to reach USD 87.8 billion by 2029, growing at a CAGR of 18.5% between 2024 to 2029.
Some of the major factors contributing to the growth of the microgrid market include the increasing digitalization and smart grid integration, increasing usage of microgrids across various end-user industries, rising instances of cyberattacks on energy infrastructures, economic and environmental advantages of microgrid adoption and the surging demand to electrify rural areas.
Microgrid Market Forecast to 2029
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Microgrid Market Trends and Dynamics
Driver: Rising demand for EV charging infrastructure
The rapid proliferation of electric vehicle (EV) charging infrastructure is driving a surge in the demand for microgrids. As EV adoption grows, there's a significant uptick in electricity usage, particularly in areas with numerous charging stations, straining existing grid infrastructure. However, microgrids present a viable solution by integrating localized power generation and distribution, effectively managing the increased electricity demand from EV charging. By optimizing energy generation, distribution, and load management, microgrids alleviate grid congestion, reducing the need for costly upgrades. Moreover, EV charging stations often contribute to peak demand, leading to higher electricity costs. Microgrids equipped with sophisticated load management capabilities facilitate the optimization of charging schedules and load distribution, thereby minimizing peak demand, enhancing grid stability, and reducing charging costs. Moreover, microgrids synergize effectively with the incorporation of renewable energy sources such as solar panels and wind turbines into electric vehicle (EV) charging infrastructure, promoting environmentally friendly transportation and mitigating carbon emissions. Additionally, microgrids can integrate energy storage systems to complement EV charging by storing surplus energy and ensuring uninterrupted power supply during grid disruptions. Through the integration of intelligent charging technologies, microgrids provide adaptive and dynamic charging solutions, optimizing charging activities based on grid conditions, energy tariffs, and user preferences. Ultimately, the expansion of EV charging infrastructure is driving the demand for microgrids, as they efficiently manage the heightened electricity demand, facilitate the integration of renewable energy, reinforce grid stability, and enhance the resilience of charging operations.
Restraint: Complexities in grid interconnections
The challenges associated with grid interconnection pose a significant obstacle to the expansion of the microgrid market. Integrating microgrids with the existing electrical grid often involves encountering technical and logistical hurdles. Frequently, modifications or upgrades to the grid infrastructure become necessary to facilitate the seamless integration of microgrids. Grid operators and utilities typically enforce specific interconnection requirements, further complicating the implementation process and extending the timeline. Ensuring compliance with these requirements and guaranteeing compatibility between microgrids and the broader grid system can be intricate. These interconnection challenges frequently lead to project delays and inflated costs, potentially dissuading organizations from investing in microgrid installations. Addressing grid interconnection issues through the establishment of streamlined processes and clear guidelines will be pivotal in surmounting this inhibiting factor and nurturing the growth of the microgrid market share.
Opportunity: Digitalization and smart grid integration
The intersection of digitalization and smart grid integration presents enticing prospects for the expansion of the microgrid market. Incorporating cutting-edge digital technologies and integrating smart grid infrastructure enables superior energy management and optimization within microgrids. Leveraging data analytics, Internet of Things (IoT) devices, and real-time monitoring empowers microgrids to optimize energy generation, storage, and consumption, resulting in heightened energy efficiency and cost-effectiveness. The fusion of microgrids with digitalization trends not only unlocks fresh avenues for energy management but also fosters the development of innovative solutions and intelligent grid systems. Through seamless digital technology integration, microgrids can dynamically adapt to fluctuating energy demands, balance loads, and make data-informed decisions to maximize efficiency. This symbiotic relationship between digitalization and microgrids equips businesses and consumers with sophisticated energy management tools, leading to enhanced operational performance, cost savings, and sustainability improvements. The potential for advanced energy management solutions and the establishment of intelligent grid ecosystems renders digitalization and smart grid integration a compelling opportunity for the growth and advancement of the microgrid market share.
Challenges: Complexities in standardizing the scalability of microgrids
Scalability and standardization represent notable hurdles in the expansion of the microgrid market. Achieving scalability entails ensuring that microgrid solutions can be efficiently implemented across various applications, sectors, and geographic regions. Each deployment may exhibit distinct requirements and attributes, necessitating customized approaches while preserving interoperability and compatibility. Consequently, consistent standards must be developed to govern the design and implementation of microgrid systems. Standardization facilitates the integration of diverse components and technologies, streamlining interoperability and diminishing integration expenses. Additionally, embracing modular design methodologies permits flexibility and adaptability, allowing microgrid systems to be easily adjusted in scale based on evolving demands. The implementation of best practices is instrumental in fostering standardization and ensuring the consistent performance and reliability of microgrid solutions. Through the establishment of clear guidelines and widespread adoption of these best practices, the industry can surmount scalability and standardization challenges, facilitating the broad deployment and integration of microgrid solutions across diverse applications, sectors, and geographical locations.
Microgrid Market Ecosystem
The prominent players in the microgrid companies are Schneider Electric (France), Siemens (Germany), Eaton (Ireland), General Electric (US), ABB (Switzerland), Hitachi Energy Ltd. (Switzerland), Honeywell International Inc. (US), Homer Energy (US), S&C Electric Company (US), Power Analytics Global Corporation (US). These companies not only boast a comprehensive product portfolio but also have a strong geographic footprint.
Microgrid Market Segmentation
Grid-connected microgrid to lead the microgrid market during the forecast period.
Grid Connected microgrids benefit from access to the primary power grid, ensuring a backup in case of disruptions to the microgrid's internal power generation or distribution system. This inherent backup system renders them more dependable compared to off-grid microgrids, which lack connectivity to the main grid and must rely solely on their internal power infrastructure. Moreover, grid-connected microgrids typically entail lower installation and operational costs than their off-grid counterparts. This cost-effectiveness is attributed to their ability to leverage existing power grid infrastructure, thus reducing expenses associated with transmission lines and substations. Additionally, grid-connected microgrids contribute to enhancing the reliability of the main power grid, mitigating greenhouse gas emissions, and enhancing overall energy efficiency. These advantages have propelled the increased market dominance of grid-connected microgrids.
Hardware segment to account for the largest market share during the forecasting period.
The hardware components of microgrids encompass power generators, energy storage systems, and controllers. The hardware segment of the microgrid market is witnessing growth propelled by several factors. These include the proliferation of microgrid projects globally, the declining costs associated with energy storage, and increasing government initiatives aimed at promoting clean energy and reducing greenhouse gas emissions. Microgrids harness a range of energy sources, incorporating renewables like solar, wind, and photovoltaic cells, as well as non-renewables such as fuel cells, diesel generators, combined heat and power (CHP) systems, micro-CHP systems, and microturbines.
Commercial & Industrial Buildings end users to grow at the highest CAGR during the forecast period.
The commercial and industrial buildings microgrid market is anticipated to demonstrate the highest Compound Annual Growth Rate (CAGR) throughout the forecast period. This surge can be attributed to the imperative for a dependable power supply to ensure uninterrupted operations across various industries. Maintaining consistent power flow is essential to minimizing downtime, enhancing productivity, and averting equipment damage. Consequently, the commercial and industrial sectors are increasingly embracing microgrid solutions to fulfill their power requirements. Moreover, governmental initiatives aimed at incentivizing the adoption of clean energy and mitigating greenhouse gas (GHG) emissions are bolstering the expansion of the microgrid market within commercial and industrial settings. These initiatives provide incentives and assistance to enterprises for implementing sustainable energy solutions, including microgrids. By adopting clean energy alternatives, businesses can align with environmental objectives, adhere to regulatory requirements, and contribute to fostering a more sustainable future.
The 1 MW to 5 MW power segment is likely to dominate the microgrid market between 2024 and 2029.
In 2023, the 1 MW to 5 MW segment emerged as the dominant market shareholder. This segment encompasses microgrid systems primarily tailored for commercial and industrial applications. Additionally, it includes installations in hospital complexes, colleges, military bases, research institutions like the National Renewable Energy Laboratory (NREL), and remote regions such as Decatur Island in Washington, US, where there is a heightened power demand due to tourism.
Within this category, microgrid systems integrate a mix of renewable and non-renewable energy sources. However, the majority of installations in this range predominantly rely on non-combined heat and power (non-CHP) natural gas as their primary energy source. This indicates that these microgrid systems are primarily fueled by natural gas but also integrate intermittent renewable energy sources to complement their energy requirements. The commercial and industrial sector represents the primary end-user where microgrid systems with power ratings ranging from 1 MW to 5 MW are in demand.
Microgrid Industry Regional Analysis
Asia Pacific to grow at the highest CAGR during the forecast period.
Microgrid Market by Region
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The Asia-Pacific microgrid industry is poised for significant expansion in the forthcoming years, driven by various factors. These include the escalating demand for dependable and resilient power supply, the growing emphasis on renewable energy sources, the increasing implementation of smart grid technologies, and supportive governmental policies. The Asia-Pacific region encompasses numerous countries vulnerable to natural calamities such as typhoons and earthquakes, making the need for reliable power supply paramount. Microgrids offer a solution by ensuring uninterrupted power provision during disasters. Furthermore, the region stands out for its leadership in renewable energy adoption, wherein microgrids play a crucial role in integrating these sustainable energy sources into the grid, thereby enhancing its sustainability. Additionally, the rising adoption of smart grids in the region allows for efficient power flow management and seamless integration of renewable energy sources, including microgrids, through advanced communication capabilities. Governments across the Asia-Pacific region are actively fostering the development of microgrids, evident in the form of subsidies and tax incentives provided for microgrid projects.
Top Microgrid Companies - Key Market Players
- Schneider Electric (France),
- Siemens (Germany),
- General Electric (US),
- Eaton (US),
- ABB (Swtitzerland) are among the major players in the microgrid companies.
Microgrid Market Reprot Scope
Report Metric |
Details |
Estimated Market Size |
USD 13.6 billion in 2024 |
Expected Market Size |
USD 17.0 billion by 2029 |
Growth Rate |
CAGR of 4.6% |
Market Size Availability for Years |
2020–2029 |
Base Year |
2023 |
Forecast Period |
2024–2029 |
Forecast Units |
Value (USD Billion) |
Segments Covered |
By Connectivity, Offering, Type, Pattern, Power Source, Power Rating, End User, and Region |
Geographies Covered |
Americas, Europe, Asia Pacific, and Rest of the World |
Companies Covered |
The major players include Schneider Electric (France), General Electric (US), Siemens (Germany), Eaton (Ireland), ABB (Switzerland), Hitachi Energy Ltd. (Switzerland), Honeywell International Inc. (US), HOMER Energy (US), S&C Electric Company (US), Power Analytics Global Corporation (US) |
Microgrid Market Highlights
This research report categorizes the microgrid market share by connectivity, offering, type, patterns, power source, power rating, end-use, and region available at the regional and global level
Segment |
Subsegment |
Based on Connectivity: |
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Based on Offering: |
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Based on Power Source: |
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Based on Pattern: |
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Type of Microgrids: |
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Based on Power Rating: |
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Based on End Use: |
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Based on the Region: |
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Recent Developments in Microgrid Industry
- In May 2023, Schneider Electric launched EcoStruxure Microgrid Flex, a pioneering standardized microgrid solution that revolutionizes project timelines, resulting in a higher return on investment.
- In April 2023, Schneider Electric launched Easy UPS 3-Phase Modular with a capacity ranging from 50 kW to 250 kW and an N+1 scalable configuration. It integrates with the EcoStruxure architecture, enabling remote monitoring services for enhanced performance monitoring and management.
- In February 2023, Siemens and Swinburne University of Technology partnered to expedite the energy transition and achieve net-zero objectives. The collaborative effort involves establishing an advanced Energy Transition Hub at Swinburne University's Hawthorn campus in Melbourne, Australia.
- In February 2023, Eaton was granted a contract to support AEP Ohio in bolstering the resilience and sustainability of crucial water infrastructure located in Columbus, specifically at the Tussing Water Booster Station. This initiative entails the creation of Columbus' inaugural renewable energy microgrid.
- In December 2022, Schneider Electric and ORPC, Inc. (US) signed a MoU to collaborate on microgrid projects to advance marine energy as a commercially viable renewable energy source. This will propagate the company’s smart microgrid controllers integrated with ORPC’s RivGen Power Systems to provide highly predictable baseload electricity in renewable energy form, enabling the global transition towards net-zero societies.
- In August 2022, Eaton, along with four other companies - Planair, Yverdon Energies, Smart Energy Link (SEL), and Virtual Global Trading (VGT), collaborated to work on SunnYparc Microgrid Project to construct a microgrid demonstrator, which has the capacity to supply electricity to local businesses and simultaneously charge up to 350 electric vehicles.
- In June 2022, Eaton and Microsoft extended their collaboration to accelerate the adoption of Eaton's EnergyAware uninterruptible power system (UPS) technology in key sectors worldwide.
Key Questions Addressed by the Report:
Who are the key players in the Microgrid market share? What are the major growth strategies they have taken to strengthen their position in the market?
Major players of microgrid market include Eaton (Ireland), Schneider Electric (France), General Electric (US), ABB (Switzerland) and Siemens (Germany). These companies offer a wide portfolio for microgrids with global presence acorss various countries to meet the requirements of customers. Strategies such as acquisitions, product launches, collaborations, agreements and contracts were adopted by these companies to withstand the competitive landscape of this market.
What are the new opportunities for emerging players in the microgrid value chain?
In the value chain of microgrids, established players have various new prospects to explore. These include opportunities such as the advancement of microgrid controllers, renewable energy storage systems, and smart microgrids that emphasize the integration of technology and data management. Additionally, they can pursue the creation of inventive hardware devices and software solutions specifically tailored for microgrids.
Which end-user of the microgrid market is expected to drive the market's growth in the next five years?
During the projected timeframe, the commercial and industrial buildings sector is anticipated to experience a more substantial expansion. This market segment's growth can be attributed to the persistent need for uninterrupted power supply in order to ensure seamless operations during industrial activities, reducing downtime, boosting productivity, and minimizing equipment damage. Furthermore, government initiatives aimed at promoting clean energy usage and reducing greenhouse gas emissions are also contributing to the growth of the microgrid market for commercial and industrial purposes.
Which region to offer lucrative growth for the microgrid market size by 2029?
During the projected period, it is anticipated that the Asia Pacific will take the lead in the microgrid market. Also, the Asia Pacific region is expected to experience the highest growth rate from 2024 to 2029.
Which offering of the microgrid market is expected to drive the market's growth in the next five years?
The software segment is expected to grow at a higher rate during the forecast period. The growth of this market segment can be attributed to the consistent requirement for remote monitoring of the microgrids.
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- 5.1 INTRODUCTION
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5.2 MARKET DYNAMICSDRIVERS- Increasing emphasis on decarbonization- Growing need for reliable and uninterrupted power supply- Surging deployment of microgrids for rural electrification- Increasing cyberattacks on energy infrastructure- Rising demand for electric vehicle (EV) charging infrastructure- Increasing need for demand response and load management capabilities- Economic and environmental advantages associated with use of microgridsRESTRAINTS- High installation and maintenance costs- Complexities in grid interconnections- Low economies of scaleOPPORTUNITIES- Increasing number of microgrid projects across different industries and sectors- Growing energy demand and adoption of renewable energy in Asia Pacific- Rising interest of investors in Energy-as-a-Service (EaaS) business model to minimize cost- Rising government support for microgrid projects- Digitalization and smart grid integration- Development of Artificial Intelligence (AI)-driven microgrid optimization solutionsCHALLENGES- Lack of standardization and regulatory frameworks related to microgrid operations- Technical challenges related to microgrids operating in island mode- Complexities associated with standardizing scalability of microgrids- Difficulties in planning and designing large-sized microgrids
- 5.3 VALUE CHAIN ANALYSIS
- 5.4 ECOSYSTEM ANALYSIS
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5.5 PRICING ANALYSISAVERAGE SELLING PRICE OF MICROGRIDS, BY END USER AND PROJECT SIZEHISTORICAL PRICING TRENDAVERAGE COST OF MICROGRID PROJECTS, BY REGION
- 5.6 INVESTMENT AND FUNDING SCENARIO
- 5.7 TRENDS/DISRUPTIONS IMPACTING CUSTOMERS’ BUSINESSES
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5.8 TECHNOLOGY ANALYSISKEY TECHNOLOGIES- Blockchain-based microgrids- Microgrid smart controllersCOMPLEMENTARY TECHNOLOGIES- Smart microgrids- Advanced solar panel technologyADJACENT TECHNOLOGIES- AI-based microgrids- Virtual power plants (VPPs)- Advanced materials for microgrids
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5.9 PORTER’S FIVE FORCES ANALYSISTHREAT OF NEW ENTRANTSTHREAT OF SUBSTITUTESBARGAINING POWER OF SUPPLIERSBARGAINING POWER OF BUYERSINTENSITY OF COMPETITIVE RIVALRY
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5.10 KEY STAKEHOLDERS AND BUYING CRITERIAKEY STAKEHOLDERS IN BUYING PROCESSBUYING CRITERIA
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5.11 CASE STUDY ANALYSISHITACHI ENERGY’S TECHNOLOGY POWERED ODD SOCCER CLUB’S SKAGERAK ARENA IN NORWAYCUMMINS IMPLEMENTED AUSTRALIA’S LARGEST HYBRID RENEWABLE ENERGY MICROGRID AT GOLD FIELDS’ SITEGE PROVIDED CAMPUS-BASED MICROGRID SYSTEM TO UNIVERSITY OF ONTARIO INSTITUTE OF TECHNOLOGY, CANADAGE PROVIDED RESILIENT AND RELIABLE POWER SUPPLY SYSTEMS FOR NAVY SHIPYARD PROJECT IN PHILADELPHIA, USSOLAR ONE ENERGY USED HOMER GRID TO MODEL ENERGY COSTS FOR ACE NATURALS&C ELECTRIC COMPANY PROVIDED ENERGY STORAGE INTEGRATOR FOR MICROGRID PROJECT BY HALF MOON VENTURESS&C ELECTRIC COMPANY PROVIDED ENERGY STORAGE SYSTEMS FOR MICROGRIDS OF ERGON ENERGYAEG POWER SOLUTIONS PROVIDED GRID-FORMING INVERTER TO MBOGO VALLEY TEA FACTORY FOR UNINTERRUPTED POWER SUPPLYHITACHI ENERGY PROVIDED AFFORDABLE POWER TO SOUTH AFRICA
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5.12 TRADE ANALYSISIMPORT SCENARIO FOR HS CODE 8501EXPORT SCENARIO FOR HS CODE 8501IMPORT SCENARIO FOR HS CODE 854231EXPORT SCENARIO FOR HS CODE 854231
- 5.13 PATENT ANALYSIS
- 5.14 KEY CONFERENCES AND EVENTS, 2024–2025
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5.15 REGULATORY LANDSCAPEREGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONSSTANDARDSREGULATIONS- North America- Europe- Asia Pacific- RoW
- 6.1 INTRODUCTION
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6.2 AC MICROGRIDRISING NEED FOR RURAL AND REMOTE ELECTRIFICATION TO DRIVE DEMAND
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6.3 DC MICROGRIDRISING DEMAND FROM DATA CENTERS TO PROPEL MARKET
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6.4 HYBRID MICROGRIDGRID INDEPENDENCE AND ISLANDING CAPABILITIES TO FUEL DEMAND
- 7.1 INTRODUCTION
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7.2 URBAN/METROPOLITANINCREASING POWER REQUIREMENT FROM CRITICAL INFRASTRUCTURE TO BOOST DEMAND
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7.3 SEMI-URBANGROWING NEED FOR UNINTERRUPTED POWER SUPPLY IN INDUSTRIAL FACILITIES TO DRIVE MARKET
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7.4 RURAL/ISLANDRISING DEMAND FOR POWER SUPPLY FROM REMOTE AREAS AND AGRICULTURAL FARMS TO FUEL MARKET GROWTH
- 8.1 INTRODUCTION
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8.2 <1 MWINCREASING USE IN REMOTE AREAS, UTILITIES, AND TEMPORARY CONSTRUCTION SITES TO DRIVE MARKET
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8.3 1–5 MWRISING DEPLOYMENT IN AGRICULTURE INDUSTRY, COMMERCIAL BUILDINGS, AND INSTITUTIONS TO FUEL MARKET GROWTH
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8.4 >5–10 MWHIGH ADOPTION IN HOSPITALS, MILITARY BASES, AND DATA CENTERS TO PROPEL MARKET
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8.5 >10 MWSURGING DEMAND FROM REMOTE MINING SITES, DATA CENTERS, AND HEAVY MACHINERY FACILITIES TO FUEL MARKET GROWTH
- 9.1 INTRODUCTION
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9.2 NATURAL GASINCREASING NEED FOR CLEANER ENERGY SOLUTIONS OVER COAL- AND OIL-BASED ONES TO DRIVE MARKET
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9.3 SOLAR PVREDUCED GREENHOUSE GAS EMISSIONS AND LOW CARBON FOOTPRINT TO PROPEL DEMAND
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9.4 COMBINED HEAT AND POWER (CHP)INCREASING DEMAND FROM UNIVERSITIES/INSTITUTIONS AND MILITARY SECTOR TO BOOST MARKET GROWTH
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9.5 DIESELRISING DEMAND FOR RELIABLE ELECTRICITY SUPPLY DURING POWER OUTAGES TO DRIVE DEMAND
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9.6 FUEL CELLCOST-EFFECTIVENESS, HIGH RELIABILITY, MODULARITY, AND SCALABILITY FEATURES TO DRIVE DEMAND
- 9.7 OTHERS
- 10.1 INTRODUCTION
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10.2 GRID-CONNECTEDEXPANSION OF UTILITY-BASED GRID NETWORKS TO DRIVE DEMAND
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10.3 OFF-GRIDBENEFITS SUCH AS COST SAVINGS AND ENVIRONMENTALLY FRIENDLINESS ASSOCIATED WITH USE OF RENEWABLE ENERGY SOURCES TO BOOST ADOPTION
- 11.1 INTRODUCTION
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11.2 HARDWAREPOWER GENERATORS- Growing need to achieve reliable electricity supply from different fuel sources to boost demandENERGY STORAGE SYSTEMS- Growing requirement for energy storage systems for uninterrupted power supply and black-start applications to drive marketCONTROLLERS- Real-time monitoring and management of distributed energy resources for optimal grid stability and efficiency to fuel market growth
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11.3 SOFTWAREINCREASING DEMAND FOR PREDICTIVE AND REMOTE MAINTENANCE TO PROPEL MARKET
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11.4 SERVICESGROWING NUMBER OF MICROGRID INSTALLATIONS TO CREATE GROWTH OPPORTUNITIES FOR MICROGRID ENGINEERING AND CONSULTING SERVICE PROVIDERS
- 12.1 INTRODUCTION
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12.2 COMMERCIAL & INDUSTRIAL BUILDINGSINCREASING DEMAND FOR UNINTERRUPTED ELECTRICITY SUPPLY IN DATA CENTERS, MANUFACTURING FACILITIES, AND OFFICES TO DRIVE MARKET
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12.3 REMOTE AREASGROWING NEED TO SET UP MICROGRID PROJECTS IN REMOTE AREAS FOR ENERGY DISTRIBUTION TO DRIVE MARKET
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12.4 MILITARY FACILITIESINCREASING USE OF MOBILE MICROGRIDS TO DRIVE MARKET
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12.5 GOVERNMENT BUILDINGSINTEGRATION OF MICROGRIDS INTO SMART CITY PROJECTS TO BOOST MARKET GROWTH
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12.6 UTILITIESNEED FOR LOW-COST ALTERNATIVES TO MEET PEAK DEMAND REQUIREMENTS TO FUEL MARKET GROWTH
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12.7 INSTITUTES & CAMPUSESINCREASED ADOPTION OF LOCALIZED POWER GENERATION IN CAMPUSES TO SUPPORT MARKET GROWTH
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12.8 HEALTHCARE FACILITIESNEED FOR UNINTERRUPTED POWER SUPPLY IN HEALTHCARE FACILITIES TO DRIVE MARKET
- 13.1 INTRODUCTION
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13.2 AMERICASRECESSION IMPACT ON MICROGRIDS MARKET IN AMERICASNORTH AMERICA- US- Canada- MexicoSOUTH AMERICA- Brazil- Argentina- Rest of South America
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13.3 EUROPERECESSION IMPACT ON MICROGRID MARKET IN EUROPEUK- Surging adoption of microgrids to prevent waste heat generation to boost market growthGERMANY- Increasing deployment of solar PV technologies to fuel market growthFRANCE- Rising focus on clean energy generation to augment demand for microgridsITALY- Growing efforts to minimize GHG emissions to contribute to market growthREST OF EUROPE
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13.4 ASIA PACIFICRECESSION IMPACT ON MICROGRIDS MARKET IN ASIA PACIFICAUSTRALIA- Rising rural area electrification to accelerate market growthCHINA- Increasing implementation of supportive regulatory frameworks related to microgrids to foster market growthJAPAN- Growing focus on enhancing energy resilience to contribute to market growthSOUTH KOREA- Rising investment in renewable energy projects to foster market growthREST OF ASIA PACIFIC
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13.5 ROWRECESSION IMPACT ON MICROGRID MARKET IN ROWMIDDLE EAST- GCC countries- Rest of Middle EastAFRICA- Rising need to improve energy access in remote areas to drive market
- 14.1 INTRODUCTION
- 14.2 STRATEGIES ADOPTED BY KEY PLAYERS, 2020–2023
- 14.3 MARKET SHARE ANALYSIS, 2023
- 14.4 REVENUE ANALYSIS, 2018–2022
- 14.5 COMPANY VALUATION AND FINANCIAL METRICS, 2022
- 14.6 BRAND/PRODUCT COMPARISON
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14.7 COMPANY EVALUATION MATRIX: KEY PLAYERS, 2023STARSEMERGING LEADERSPERVASIVE PLAYERSPARTICIPANTSCOMPANY FOOTPRINT: KEY PLAYERS, 2023- Overall footprint- Offering footprint- End user footprint- Connectivity footprint- Power rating footprint- Region footprint
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14.8 COMPANY EVALUATION MATRIX: START-UPS/SMES, 2023PROGRESSIVE COMPANIESRESPONSIVE COMPANIESDYNAMIC COMPANIESSTARTING BLOCKSCOMPETITIVE BENCHMARKING: START-UPS/SMES, 2023- List of key start-ups/SMEs- Competitive benchmarking of key start-ups/SMEsCOMPANY FOOTPRINT: START-UPS/SMES, 2023- Overall footprint- Offering footprint- Connectivity footprint- Power rating footprint- End user footprint- Region footprint
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14.9 COMPETITIVE SCENARIOS AND TRENDSPRODUCT LAUNCHES/DEVELOPMENTSDEALSOTHERS
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15.1 KEY PLAYERSSCHNEIDER ELECTRIC- Business overview- Products/Solutions/Services offered- Recent developments- MnM viewSIEMENS- Business overview- Products/Solutions/Services offered- Recent developments- MnM viewGENERAL ELECTRIC- Business overview- Products/Solutions/Services offered- Recent developments- MnM viewEATON- Business overview- Products/Solutions/Services offered- Recent developments- MnM viewABB- Business overview- Products/Solutions/Services offered- Recent developments- MnM viewHITACHI ENERGY LTD.- Business overview- Products/Solutions/Services offered- Recent developmentsHONEYWELL INTERNATIONAL INC.- Business overview- Products/Solutions/Services offered- Recent developmentsHOMER ENERGY- Business overview- Products/Solutions/Services offered- Recent developmentsS&C ELECTRIC COMPANY- Business overview- Products/Solutions/Services offered- Recent developmentsPOWER ANALYTICS GLOBAL CORPORATION- Business overview- Products/Solutions/Services offered- Recent developments
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15.2 OTHER PLAYERSCATERPILLARTESLA ENERGYEMERSON ELECTRIC CO.PARETO ENERGYANBARIC DEVELOPMENT PARTNERS, LLC.EXELON CORPORATIONSPIRAE LLCGENERAL MICROGRIDSPOLARIS INC.HEILA TECHNOLOGIESAMERESCOGO ELECTRIC INC.FERROAMPCANOPY POWERPOWERSECURE, INC.
- 16.1 DISCUSSION GUIDE
- 16.2 KNOWLEDGESTORE: MARKETSANDMARKETS’ SUBSCRIPTION PORTAL
- 16.3 CUSTOMIZATION OPTIONS
- 16.4 RELATED REPORTS
- 16.5 AUTHOR DETAILS
- TABLE 1 MICROGRID MARKET: INCLUSIONS AND EXCLUSIONS
- TABLE 2 MICROGRIDS MARKET: INCLUSIONS AND EXCLUSIONS, BY OFFERING
- TABLE 3 MARKET: KEY FORECAST ASSUMPTIONS
- TABLE 4 ASSUMPTIONS
- TABLE 5 RISK ASSESSMENT
- TABLE 6 BUSINESS MODEL OF COMPANIES IN MICROGRID ECOSYSTEM
- TABLE 7 COMPANIES AND THEIR ROLES IN MICROGRID ECOSYSTEM
- TABLE 8 AVERAGE SELLING PRICE OF MICROGRIDS, BY KEY END USER AND PROJECT SIZE (USD MILLION/MW)
- TABLE 9 MICROGRIDS MARKET: PORTER’S FIVE FORCES ANALYSIS
- TABLE 10 INFLUENCE OF STAKEHOLDERS ON BUYING PROCESS FOR TOP THREE END USERS (%)
- TABLE 11 KEY BUYING CRITERIA FOR TOP THREE END USERS
- TABLE 12 IMPORT DATA FOR HS CODE 8501-COMPLIANT ELECTRIC MOTORS AND GENERATORS (EXCLUDING GENERATING SETS), BY COUNTRY, 2018–2022 (USD MILLION)
- TABLE 13 EXPORT DATA FOR HS CODE 8501-COMPLIANT ELECTRIC MOTORS AND GENERATORS (EXCLUDING GENERATING SETS), BY COUNTRY, 2018–2022 (USD MILLION)
- TABLE 14 IMPORT DATA FOR HS CODE 854231-COMPLIANT ELECTRONIC-INTEGRATED CIRCUITS AS PROCESSORS AND CONTROLLERS, BY COUNTRY, 2018–2022 (USD MILLION)
- TABLE 15 EXPORT DATA FOR HS CODE 854231-COMPLIANT ELECTRONIC-INTEGRATED CIRCUITS AS PROCESSORS AND CONTROLLERS, BY COUNTRY, 2018–2022 (USD MILLION)
- TABLE 16 NUMBER OF PATENTS RELATED TO MICROGRIDS REGISTERED IN LAST 10 YEARS
- TABLE 17 MICROGRID MARKET: LIST OF KEY PATENTS, 2020–2023
- TABLE 18 MARKET: LIST OF CONFERENCES AND EVENTS, 2024–2025
- TABLE 19 NORTH AMERICA: LIST OF REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS
- TABLE 20 EUROPE: LIST OF REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS
- TABLE 21 ASIA PACIFIC: LIST OF REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS
- TABLE 22 STANDARDS RELATED TO MICROGRIDS
- TABLE 23 MARKET, BY POWER RATING, 2020–2023 (USD BILLION)
- TABLE 24 MARKET, BY POWER RATING, 2024–2029 (USD BILLION)
- TABLE 25MARKET, BY POWER SOURCE, 2020–2023 (USD BILLION)
- TABLE 26 MICROGRIDS MARKET, BY POWER SOURCE, 2024–2029 (USD BILLION)
- TABLE 27 MARKET, BY CONNECTIVITY, 2020–2023 (USD BILLION)
- TABLE 28 MICROGRID MARKET, BY CONNECTIVITY, 2024–2029 (USD BILLION)
- TABLE 29 GRID-CONNECTED: MARKET, BY REGION, 2020–2023 (USD BILLION)
- TABLE 30 GRID-CONNECTED: MARKET, BY REGION, 2024–2029 (USD BILLION)
- TABLE 31 OFF-GRID: MICROGRIDS MARKET, BY REGION, 2020–2023 (USD BILLION)
- TABLE 32 OFF-GRID: MARKET, BY REGION, 2024–2029 (USD BILLION)
- TABLE 33 MICROGRIDS MARKET, BY OFFERING, 2020–2023 (USD BILLION)
- TABLE 34 MICROGRID MARKET, BY OFFERING, 2024–2029 (USD BILLION)
- TABLE 35 HARDWARE: MARKET, BY TYPE, 2020–2023 (USD BILLION)
- TABLE 36 HARDWARE: MARKET, BY TYPE, 2024–2029 (USD BILLION)
- TABLE 37 HARDWARE: MARKET, BY REGION, 2020–2023 (USD BILLION)
- TABLE 38 HARDWARE: MICROGRIDS MARKET, BY REGION, 2024–2029 (USD BILLION)
- TABLE 39 POWER GENERATORS: MICROGRID MARKET FOR HARDWARE, BY REGION, 2020–2023 (USD BILLION)
- TABLE 40 POWER GENERATORS: MARKET FOR HARDWARE, BY REGION, 2024–2029 (USD BILLION)
- TABLE 41 ENERGY STORAGE SYSTEMS: MICROGRIDS MARKET FOR HARDWARE, BY REGION, 2020–2023 (USD BILLION)
- TABLE 42 ENERGY STORAGE SYSTEMS: MARKET FOR HARDWARE, BY REGION, 2024–2029 (USD BILLION)
- TABLE 43 CONTROLLERS: MARKET FOR HARDWARE, BY REGION, 2020–2023 (USD BILLION)
- TABLE 44 CONTROLLERS: MARKET FOR HARDWARE, BY REGION, 2024–2029 (USD BILLION)
- TABLE 45 SOFTWARE: MARKET, BY REGION, 2020–2023 (USD BILLION)
- TABLE 46 SOFTWARE: MICROGRIDS MARKET, BY REGION, 2024–2029 (USD BILLION)
- TABLE 47 SERVICES: MARKET, BY REGION, 2020–2023 (USD BILLION)
- TABLE 48 SERVICES: MARKET, BY REGION, 2024–2029 (USD BILLION)
- TABLE 49 MICROGRID MARKET, BY END USER, 2020–2023 (USD BILLION)
- TABLE 50 MARKET, BY END USER, 2024–2029 (USD BILLION)
- TABLE 51 COMMERCIAL & INDUSTRIAL BUILDINGS: MICROGRIDS MARKET, BY REGION, 2020–2023 (USD BILLION)
- TABLE 52 COMMERCIAL & INDUSTRIAL BUILDINGS: MARKET, BY REGION, 2024–2029 (USD BILLION)
- TABLE 53 REMOTE AREAS: MARKET, BY REGION, 2020–2023 (USD BILLION)
- TABLE 54 REMOTE AREAS: MARKET, BY REGION, 2024–2029 (USD BILLION)
- TABLE 55 MILITARY FACILITIES: MARKET, BY REGION, 2020–2023 (USD BILLION)
- TABLE 56 MILITARY FACILITIES: MARKET, BY REGION, 2024–2029 (USD BILLION)
- TABLE 57 GOVERNMENT BUILDINGS: MICROGRIDS MARKET, BY REGION, 2020–2023 (USD BILLION)
- TABLE 58 GOVERNMENT BUILDINGS: MARKET, BY REGION, 2024–2029 (USD BILLION)
- TABLE 59 UTILITIES: MARKET, BY REGION, 2020–2023 (USD BILLION)
- TABLE 60 UTILITIES: MARKET, BY REGION, 2024–2029 (USD BILLION)
- TABLE 61 INSTITUTES & CAMPUSES: MICROGRID MARKET, BY REGION, 2020–2023 (USD BILLION)
- TABLE 62 INSTITUTES & CAMPUSES: MARKET, BY REGION, 2024–2029 (USD BILLION)
- TABLE 63 HEALTHCARE FACILITIES: MARKET, BY REGION, 2020–2023 (USD BILLION)
- TABLE 64 HEALTHCARE FACILITIES: MARKET, BY REGION, 2024–2029 (USD BILLION)
- TABLE 65 MICROGRID MARKET, BY REGION, 2020–2023 (USD BILLION)
- TABLE 66 MICROGRIDS MARKET, BY REGION, 2024–2029 (USD BILLION)
- TABLE 67 MICROGRID INSTALLED CAPACITY, BY REGION, 2020–2023 (MW)
- TABLE 68 MICROGRID INSTALLED CAPACITY, BY REGION, 2024–2029 (MW)
- TABLE 69 AMERICAS: MARKET, BY REGION, 2020–2023 (USD BILLION)
- TABLE 70 AMERICAS: MARKET, BY REGION, 2024–2029 (USD BILLION)
- TABLE 71 AMERICAS: MARKET, BY CONNECTIVITY, 2020–2023 (USD BILLION)
- TABLE 72 AMERICAS: MARKET, BY CONNECTIVITY, 2024–2029 (USD BILLION)
- TABLE 73 AMERICAS: MARKET, BY OFFERING, 2020–2023 (USD BILLION)
- TABLE 74 AMERICAS: MARKET, BY OFFERING, 2024–2029 (USD BILLION)
- TABLE 75 AMERICAS: MARKET FOR HARDWARE, BY TYPE, 2020–2023 (USD BILLION)
- TABLE 76 AMERICAS: MARKET FOR HARDWARE, BY TYPE, 2024–2029 (USD BILLION)
- TABLE 77 AMERICAS: MARKET, BY END USER, 2020–2023 (USD BILLION)
- TABLE 78 AMERICAS: MARKET, BY END USER, 2024–2029 (USD BILLION)
- TABLE 79 NORTH AMERICA: MICROGRID MARKET, BY COUNTRY, 2020–2023 (USD BILLION)
- TABLE 80 NORTH AMERICA: MARKET, BY COUNTRY, 2024–2029 (USD BILLION)
- TABLE 81 NORTH AMERICA: MARKET, BY CONNECTIVITY, 2020–2023 (USD BILLION)
- TABLE 82 NORTH AMERICA: MARKET, BY CONNECTIVITY, 2024–2029 (USD BILLION)
- TABLE 83 NORTH AMERICA: MARKET, BY OFFERING, 2020–2023 (USD BILLION)
- TABLE 84 NORTH AMERICA: MARKET, BY OFFERING, 2024–2029 (USD BILLION)
- TABLE 85 NORTH AMERICA: MICROGRIDS MARKET FOR HARDWARE, BY TYPE, 2020–2023 (USD BILLION)
- TABLE 86 NORTH AMERICA: MARKET FOR HARDWARE, BY TYPE, 2024–2029 (USD BILLION)
- TABLE 87 NORTH AMERICA: MARKET, BY END USER, 2020–2023 (USD BILLION)
- TABLE 88 NORTH AMERICA: MARKET, BY END USER, 2024–2029 (USD BILLION)
- TABLE 89 SOUTH AMERICA: MARKET, BY COUNTRY, 2020–2023 (USD BILLION)
- TABLE 90 SOUTH AMERICA: MARKET, BY COUNTRY, 2024–2029 (USD BILLION)
- TABLE 91 SOUTH AMERICA: MARKET, BY CONNECTIVITY, 2020–2023 (USD BILLION)
- TABLE 92 SOUTH AMERICA: MARKET, BY CONNECTIVITY, 2024–2029 (USD BILLION)
- TABLE 93 SOUTH AMERICA: MARKET, BY OFFERING, 2020–2023 (USD BILLION)
- TABLE 94 SOUTH AMERICA: MARKET, BY OFFERING, 2024–2029 (USD BILLION)
- TABLE 95 SOUTH AMERICA: MARKET FOR HARDWARE, BY TYPE, 2020–2023 (USD BILLION)
- TABLE 96 SOUTH AMERICA: MARKET FOR HARDWARE, BY TYPE, 2024–2029 (USD BILLION)
- TABLE 97 SOUTH AMERICA: MICROGRIDS MARKET, BY END USER, 2020–2023 (USD BILLION)
- TABLE 98 SOUTH AMERICA: MARKET, BY END USER, 2024–2029 (USD BILLION)
- TABLE 99 EUROPE: MICROGRID MARKET, BY COUNTRY, 2020–2023 (USD BILLION)
- TABLE 100 EUROPE: MARKET, BY COUNTRY, 2024–2029 (USD BILLION)
- TABLE 101 EUROPE: MARKET, BY CONNECTIVITY, 2020–2023 (USD BILLION)
- TABLE 102 EUROPE: MARKET, BY CONNECTIVITY, 2024–2029 (USD BILLION)
- TABLE 103 EUROPE: MARKET, BY OFFERING, 2020–2023 (USD BILLION)
- TABLE 104 EUROPE: MARKET, BY OFFERING, 2024–2029 (USD BILLION)
- TABLE 105 EUROPE: MARKET FOR HARDWARE, BY TYPE, 2020–2023 (USD BILLION)
- TABLE 106 EUROPE: MARKET FOR HARDWARE, BY TYPE, 2024–2029 (USD BILLION)
- TABLE 107 EUROPE: MARKET, BY END USER, 2020–2023 (USD BILLION)
- TABLE 108 EUROPE: MICROGRIDS MARKET, BY END USER, 2024–2029 (USD BILLION)
- TABLE 109 ASIA PACIFIC: MICROGRID MARKET, BY COUNTRY, 2020–2023 (USD BILLION)
- TABLE 110 ASIA PACIFIC: MARKET, BY COUNTRY, 2024–2029 (USD BILLION)
- TABLE 111 ASIA PACIFIC: MARKET, BY CONNECTIVITY, 2020–2023 (USD BILLION)
- TABLE 112 ASIA PACIFIC: MARKET, BY CONNECTIVITY, 2024–2029 (USD BILLION)
- TABLE 113 ASIA PACIFIC: MARKET, BY OFFERING, 2020–2023 (USD BILLION)
- TABLE 114 ASIA PACIFIC: MARKET, BY OFFERING, 2024–2029 (USD BILLION)
- TABLE 115 ASIA PACIFIC: MARKET FOR HARDWARE, BY TYPE, 2020–2023 (USD BILLION)
- TABLE 116 ASIA PACIFIC: MARKET FOR HARDWARE, BY TYPE, 2024–2029 (USD BILLION)
- TABLE 117 ASIA PACIFIC: MARKET, BY END USER, 2020–2023 (USD BILLION)
- TABLE 118 ASIA PACIFIC: MICROGRIDS MARKET, BY END USER, 2024–2029 (USD BILLION)
- TABLE 119 ROW: MICROGRID MARKET, BY REGION, 2020–2023 (USD BILLION)
- TABLE 120 ROW: MARKET, BY REGION, 2024–2029 (USD BILLION)
- TABLE 121 ROW: MARKET, BY CONNECTIVITY, 2020–2023 (USD BILLION)
- TABLE 122 ROW: MARKET, BY CONNECTIVITY, 2024–2029 (USD BILLION)
- TABLE 123 ROW: MARKET, BY OFFERING, 2020–2023 (USD BILLION)
- TABLE 124 ROW: MARKET, BY OFFERING, 2024–2029 (USD BILLION)
- TABLE 125 ROW: MARKET FOR HARDWARE, BY TYPE, 2020–2023 (USD BILLION)
- TABLE 126 ROW: MARKET FOR HARDWARE, BY TYPE, 2024–2029 (USD BILLION)
- TABLE 127 ROW: MARKET, BY END USER, 2020–2023 (USD BILLION)
- TABLE 128 ROW: MICROGRIDS MARKET, BY END USER, 2024–2029 (USD BILLION)
- TABLE 129 MIDDLE EAST: MARKET, BY REGION/COUNTRY, 2020–2023 (USD BILLION)
- TABLE 130 MIDDLE EAST: MARKET, BY REGION/COUNTRY, 2024–2029 (USD BILLION)
- TABLE 131 OVERVIEW OF STRATEGIES ADOPTED BY KEY PLAYERS IN MICROGRIDS MARKET, 2020–2023
- TABLE 132 MICROGRID MARKET: DEGREE OF COMPETITION, 2023
- TABLE 133 MARKET: COMPANY OFFERING FOOTPRINT
- TABLE 134 MARKET: COMPANY END USER FOOTPRINT
- TABLE 135 MARKET: COMPANY CONNECTIVITY FOOTPRINT
- TABLE 136 MARKET: COMPANY POWER RATING FOOTPRINT
- TABLE 137 MARKET: COMPANY REGION FOOTPRINT
- TABLE 138 MARKET: LIST OF KEY START-UPS/SMES
- TABLE 139 MARKET: COMPETITIVE BENCHMARKING OF KEY START-UPS/SMES
- TABLE 140 MICROGRIDS MARKET: START-UP/SME OFFERING FOOTPRINT
- TABLE 141 MARKET: START-UP/SME CONNECTIVITY FOOTPRINT
- TABLE 142 MARKET: START-UP/SME POWER RATING FOOTPRINT
- TABLE 143 MARKET: START-UP/SME END USER FOOTPRINT
- TABLE 144 MARKET: START-UP/SME REGION FOOTPRINT
- TABLE 145 MARKET: PRODUCT LAUNCHES/DEVELOPMENTS, JULY 2020–NOVEMBER 2023
- TABLE 146 MARKET: DEALS, FEBRUARY 2020–APRIL 2023
- TABLE 147 MICROGRID MARKET: OTHERS, APRIL 2021–JULY 2023
- TABLE 148 SCHNEIDER ELECTRIC: COMPANY OVERVIEW
- TABLE 149 SCHNEIDER ELECTRIC: PRODUCTS/SOLUTIONS/SERVICES OFFERED
- TABLE 150 SCHNEIDER ELECTRIC: PRODUCT LAUNCHES/DEVELOPMENTS
- TABLE 151 SCHNEIDER ELECTRIC: DEALS
- TABLE 152 SCHNEIDER ELECTRIC: OTHERS
- TABLE 153 SCHNEIDER ELECTRIC: EXPANSIONS
- TABLE 154 SIEMENS: COMPANY OVERVIEW
- TABLE 155 SIEMENS: PRODUCTS/SOLUTIONS/SERVICES OFFERED
- TABLE 156 SIEMENS: PRODUCT LAUNCHES/DEVELOPMENTS
- TABLE 157 SIEMENS: DEALS
- TABLE 158 SIEMENS: OTHERS
- TABLE 159 GENERAL ELECTRIC: COMPANY OVERVIEW
- TABLE 160 GENERAL ELECTRIC: PRODUCTS/SOLUTIONS/SERVICES OFFERED
- TABLE 161 GENERAL ELECTRIC: PRODUCT LAUNCHES/DEVELOPMENTS
- TABLE 162 GENERAL ELECTRIC: DEALS
- TABLE 163 GENERAL ELECTRIC: OTHERS
- TABLE 164 EATON: COMPANY OVERVIEW
- TABLE 165 EATON: PRODUCTS/SOLUTIONS/SERVICES OFFERED
- TABLE 166 EATON: PRODUCT LAUNCHES/DEVELOPMENTS
- TABLE 167 EATON: DEALS
- TABLE 168 EATON: OTHERS
- TABLE 169 EATON: EXPANSIONS
- TABLE 170 ABB: COMPANY OVERVIEW
- TABLE 171 ABB: PRODUCTS/SOLUTIONS/SERVICES OFFERED
- TABLE 172 ABB: DEALS
- TABLE 173 ABB: OTHERS
- TABLE 174 HITACHI ENERGY LTD.: COMPANY OVERVIEW
- TABLE 175 HITACHI ENERGY LTD.: PRODUCTS/SOLUTIONS/SERVICES OFFERED
- TABLE 176 HITACHI ENERGY LTD.: PRODUCT LAUNCHES/DEVELOPMENTS
- TABLE 177 HITACHI ENERGY LTD.: DEALS
- TABLE 178 HITACHI ENERGY LTD.: OTHERS
- TABLE 179 HONEYWELL INTERNATIONAL INC.: COMPANY OVERVIEW
- TABLE 180 HONEYWELL INTERNATIONAL INC.: PRODUCTS/SOLUTIONS/SERVICES OFFERED
- TABLE 181 HONEYWELL INTERNATIONAL INC.: PRODUCT LAUNCHES/DEVELOPMENTS
- TABLE 182 HONEYWELL INTERNATIONAL INC.: DEALS
- TABLE 183 HOMER ENERGY: COMPANY OVERVIEW
- TABLE 184 HOMER ENERGY: PRODUCTS/SOLUTIONS/SERVICES OFFERED
- TABLE 185 HOMER ENERGY: PRODUCT LAUNCHES/DEVELOPMENTS
- TABLE 186 HOMER ENERGY: DEALS
- TABLE 187 HOMER ENERGY: OTHERS
- TABLE 188 S&C ELECTRIC COMPANY: COMPANY OVERVIEW
- TABLE 189 S&C ELECTRIC COMPANY: PRODUCTS/SOLUTIONS/SERVICES OFFERED
- TABLE 190 S&C ELECTRIC COMPANY: PRODUCT LAUNCHES/DEVELOPMENTS
- TABLE 191 S&C ELECTRIC COMPANY: EXPANSIONS
- TABLE 192 POWER ANALYTICS GLOBAL CORPORATION: COMPANY OVERVIEW
- TABLE 193 POWER ANALYTICS GLOBAL CORPORATION: PRODUCTS/SOLUTIONS/SERVICES OFFERED
- TABLE 194 POWER ANALYTICS GLOBAL CORPORATION: PRODUCT LAUNCHES/DEVELOPMENTS
- TABLE 195 POWER ANALYTICS GLOBAL CORPORATION: DEALS
- FIGURE 1 MICROGRID MARKET SEGMENTATION
- FIGURE 2 MICROGRIDS MARKET: PROCESS FLOW OF MARKET SIZE ESTIMATION
- FIGURE 3 MARKET: RESEARCH DESIGN
- FIGURE 4 MARKET SIZE ESTIMATION METHODOLOGY: BOTTOM-UP APPROACH
- FIGURE 5 MARKET SIZE ESTIMATION METHODOLOGY: TOP-DOWN APPROACH
- FIGURE 6 MARKET SIZE ESTIMATION METHODOLOGY (SUPPLY SIDE): REVENUE GENERATED FROM SALES OF MICROGRIDS
- FIGURE 7 MARKET SIZE ESTIMATION METHODOLOGY (SUPPLY SIDE): REVENUE GENERATED FROM SALES OF MICROGRID HARDWARE, SOFTWARE, AND SERVICES
- FIGURE 8 MARKET SIZE ESTIMATION METHODOLOGY (DEMAND SIDE): APPROACH TO ESTIMATE MICROGRID MARKET SIZE, BY REGION
- FIGURE 9 MARKET SIZE ESTIMATION METHODOLOGY (DEMAND SIDE): APPROACH TO ESTIMATING COUNTRY-LEVEL MICROGRIDS MARKET SIZE
- FIGURE 10 DATA TRIANGULATION
- FIGURE 11 RISK ASSESSMENT
- FIGURE 12 GRID-CONNECTED SEGMENT TO DOMINATE MARKET IN 2029
- FIGURE 13 HARDWARE SEGMENT TO LEAD MARKET IN 2029
- FIGURE 14 POWER GENERATORS SUB-SEGMENT TO HOLD LARGEST SHARE OF MICROGRID MARKET FOR HARDWARE IN 2024
- FIGURE 15 COMMERCIAL & INDUSTRIAL BUILDINGS SEGMENT TO HOLD LARGEST SHARE OF MICROGRIDS MARKET IN 2029
- FIGURE 16 1–5 MW SEGMENT TO HOLD LARGEST MARKET SHARE IN 2029
- FIGURE 17 COMBINED HEAT & POWER (CHP) SEGMENT TO HOLD LARGEST MARKET SHARE IN 2029
- FIGURE 18 ASIA PACIFIC TO RECORD HIGHEST CAGR DURING FORECAST PERIOD
- FIGURE 19 GROWING NEED FOR RURAL ELECTRIFICATION AND GREENHOUSE GAS EMISSION REDUCTION TO DRIVE MARKET
- FIGURE 20 HARDWARE SEGMENT TO HOLD LARGEST MARKET SHARE IN 2029
- FIGURE 21 POWER GENERATORS SEGMENT TO LEAD MARKET IN 2029
- FIGURE 22 GRID-CONNECTED SEGMENT TO HOLD LARGEST MARKET SHARE IN 2029
- FIGURE 23 1–5 MW SEGMENT TO ACCOUNT FOR LARGEST MARKET SHARE DURING FORECAST PERIOD
- FIGURE 24 COMBINED HEAT & POWER SEGMENT TO ACCOUNT FOR LARGEST MARKET SHARE IN 2029
- FIGURE 25 COMMERCIAL & INDUSTRIAL BUILDINGS SEGMENT TO HOLD LARGEST MARKET SHARE IN 2029
- FIGURE 26 COMMERCIAL & INDUSTRIAL BUILDINGS SEGMENT AND AUSTRALIA HELD LARGEST MARKET SHARES IN 2029
- FIGURE 27 CHINA TO GROW AT SIGNIFICANT RATE DURING FORECAST PERIOD
- FIGURE 28 MICROGRID MARKET: DRIVERS, RESTRAINTS, OPPORTUNITIES, AND CHALLENGES
- FIGURE 29 MICROGRIDS MARKET: DRIVERS AND THEIR IMPACT
- FIGURE 30 MARKET: RESTRAINTS AND THEIR IMPACT
- FIGURE 31 MARKET: OPPORTUNITIES AND THEIR IMPACT
- FIGURE 32 MARKET: CHALLENGES AND THEIR IMPACT
- FIGURE 33 MARKET: VALUE CHAIN ANALYSIS
- FIGURE 34 MARKET: ECOSYSTEM ANALYSIS
- FIGURE 35 KEY COMPANIES IN MICROGRID ECOSYSTEM
- FIGURE 36 AVERAGE SELLING PRICE TREND OF MICROGRIDS, BY KEY END USER AND PROJECT SIZE (USD MILLION/MW)
- FIGURE 37 AVERAGE COST OF MICROGRID PROJECTS, BY TOP FOUR END USERS, 2020–2023 (USD MILLION/MW)
- FIGURE 38 AVERAGE COST OF UTILITIES MICROGRID PROJECTS, BY REGION, 2020–2029 (USD MILLION/MW)
- FIGURE 39 AVERAGE COST OF COMMUNITIES MICROGRID PROJECTS, BY REGION, 2020–2029 (USD MILLION/MW)
- FIGURE 40 AVERAGE COST OF INSTITUTES & CAMPUSES MICROGRID PROJECTS, BY REGION, 2020–2029 (USD MILLION/MW)
- FIGURE 41 AVERAGE COST OF COMMERCIAL & INDUSTRIAL BUILDINGS MICROGRID PROJECTS, BY REGION, 2020–2029 (USD MILLION/MW)
- FIGURE 42 INVESTMENT AND FUNDING SCENARIO, 2017–2021 (USD MILLION)
- FIGURE 43 TRENDS/DISRUPTIONS IMPACTING CUSTOMERS’ BUSINESSES
- FIGURE 44 MICROGRID MARKET: PORTER’S FIVE FORCES ANALYSIS
- FIGURE 45 INFLUENCE OF STAKEHOLDERS ON BUYING PROCESS FOR TOP THREE END USERS
- FIGURE 46 KEY BUYING CRITERIA FOR TOP THREE END USERS
- FIGURE 47 IMPORT DATA FOR HS CODE 8501-COMPLIANT ELECTRIC MOTORS AND GENERATORS (EXCLUDING GENERATING SETS), BY COUNTRY, 2018–2022 (USD MILLION)
- FIGURE 48 EXPORT DATA FOR HS CODE 8501-COMPLIANT ELECTRIC MOTORS AND GENERATORS (EXCLUDING GENERATING SETS), BY COUNTRY, 2018–2022 (USD MILLION)
- FIGURE 49 IMPORT DATA FOR HS CODE 854231-COMPLIANT ELECTRONIC-INTEGRATED CIRCUITS AS PROCESSORS AND CONTROLLERS, BY COUNTRY, 2018–2022 (USD MILLION)
- FIGURE 50 EXPORT DATA FOR HS CODE 854231-COMPLIANT ELECTRONIC-INTEGRATED CIRCUITS AS PROCESSORS AND CONTROLLERS, BY COUNTRY, 2018–2022 (USD MILLION)
- FIGURE 51 TOP 10 COMPANIES WITH HIGHEST NUMBER OF PATENT APPLICATIONS IN LAST 10 YEARS
- FIGURE 52 NUMBER OF PATENTS GRANTED PER YEAR, 2014–2023
- FIGURE 53 MICROGRID TYPES
- FIGURE 54 MICROGRID PATTERNS
- FIGURE 55 DRIVERS OF MICROGRIDS MARKET IN URBAN/METROPOLITAN AREAS
- FIGURE 56 1–5 MW SEGMENT TO HOLD LARGEST MARKET SHARE IN 2029
- FIGURE 57 MICROGRID MARKET, BY POWER SOURCE
- FIGURE 58 COMBINED HEAT & POWER SEGMENT TO ACCOUNT FOR LARGEST MARKET SHARE IN 2029
- FIGURE 59 MARKET, BY CONNECTIVITY
- FIGURE 60 GRID-CONNECTED SEGMENT TO RECORD HIGHER CAGR DURING FORECAST PERIOD
- FIGURE 61 ASIA PACIFIC TO EXHIBIT FASTEST GROWTH IN MARKET FOR GRID-CONNECTED SEGMENT DURING FORECAST PERIOD
- FIGURE 62 ASIA PACIFIC TO HOLD LARGEST SHARE OF MARKET FOR OFF-GRID SEGMENT IN 2029
- FIGURE 63 MICROGRID MARKET, BY OFFERING
- FIGURE 64 SOFTWARE SEGMENT TO RECORD FASTEST GROWTH DURING FORECAST PERIOD
- FIGURE 65 MICROGRID HARDWARE MARKET, BY TYPE
- FIGURE 66 POWER GENERATORS SUB-SEGMENT TO HOLD LARGEST SHARE OF MICROGRIDS MARKET FOR HARDWARE IN 2029
- FIGURE 67 ASIA PACIFIC TO RECORD HIGHEST CAGR IN MARKET FOR HARDWARE DURING FORECAST PERIOD
- FIGURE 68 AMERICAS TO ACCOUNT FOR LARGEST SHARE OF MARKET FOR SOFTWARE IN 2029
- FIGURE 69 ASIA PACIFIC TO EXHIBIT HIGHEST CAGR IN MICROGRIDS MARKET FOR SERVICES DURING FORECAST PERIOD
- FIGURE 70 MICROGRID MARKET, BY END USER
- FIGURE 71 COMMERCIAL & INDUSTRIAL BUILDINGS SEGMENT TO RECORD HIGHEST CAGR DURING FORECAST PERIOD
- FIGURE 72 ASIA PACIFIC TO RECORD FASTEST GROWTH IN MARKET FOR COMMERCIAL & INDUSTRIAL BUILDINGS DURING FORECAST PERIOD
- FIGURE 73 ASIA PACIFIC TO RECORD HIGHEST CAGR IN MARKET FOR REMOTE AREAS DURING FORECAST PERIOD
- FIGURE 74 ASIA PACIFIC TO HOLD LARGEST SHARE OF MARKET FOR MILITARY FACILITIES IN 2029
- FIGURE 75 ASIA PACIFIC TO EXHIBIT FASTEST GROWTH IN MARKET FOR GOVERNMENT BUILDINGS DURING FORECAST PERIOD
- FIGURE 76 AMERICAS TO DOMINATE MICROGRIDS MARKET FOR UTILITIES IN 2029
- FIGURE 77 ASIA PACIFIC TO HOLD LARGEST SHARE OF MICROGRID MARKET FOR INSTITUTES & CAMPUSES IN 2029
- FIGURE 78 ASIA PACIFIC TO EXHIBIT HIGHEST CAGR IN MARKET FOR HEALTHCARE FACILITIES DURING FORECAST PERIOD
- FIGURE 79 MICROGRID MARKET, BY REGION
- FIGURE 80 SOUTH KOREA TO EXHIBIT HIGHEST CAGR DURING FORECAST PERIOD
- FIGURE 81 ASIA PACIFIC TO HOLD LARGEST SHARE OF MICROGRIDS MARKET IN 2029
- FIGURE 82 AMERICAS: MARKET SNAPSHOT
- FIGURE 83 EUROPE: MARKET SNAPSHOT
- FIGURE 84 ASIA PACIFIC: MARKET SNAPSHOT
- FIGURE 85 AFRICA TO ACCOUNT FOR LARGER SHARE OF ROW MICROGRIDS MARKET IN 2029
- FIGURE 86 MICROGRID MARKET SHARE ANALYSIS, 2023
- FIGURE 87 MARKET: REVENUE ANALYSIS OF FIVE KEY PLAYERS, 2018–2022
- FIGURE 88 COMPANY VALUATION, 2022 (USD BILLION)
- FIGURE 89 FINANCIAL METRICS (EV/EBITDA), 2022
- FIGURE 90 BRAND/PRODUCT COMPARISON
- FIGURE 91 MARKET: COMPANY EVALUATION MATRIX: KEY PLAYERS, 2023
- FIGURE 92 COMPANY OVERALL FOOTPRINT
- FIGURE 93 MICROGRID MARKET: COMPANY EVALUATION MATRIX: START-UPS/SMES, 2023
- FIGURE 94 MARKET: START-UP/SME OVERALL FOOTPRINT
- FIGURE 95 SCHNEIDER ELECTRIC: COMPANY SNAPSHOT
- FIGURE 96 SIEMENS: COMPANY SNAPSHOT
- FIGURE 97 GENERAL ELECTRIC: COMPANY SNAPSHOT
- FIGURE 98 EATON: COMPANY SNAPSHOT
- FIGURE 99 ABB: COMPANY SNAPSHOT
- FIGURE 100 HONEYWELL INTERNATIONAL INC.: COMPANY SNAPSHOT
The study involved four major activities for estimating the microgrid market size. Exhaustive secondary research has been conducted to collect information relevant to the market, its peer markets, and its child market. Primary research has been undertaken to validate key findings, assumptions, and sizing with industry experts across the value chain of the microgrid market. Both top-down and bottom-up approaches have been employed to estimate the complete market size. It has been followed by the market breakdown and data triangulation methods to estimate the size of different segments and subsegments of the market.
Secondary Research
The research methodology used to estimate and forecast the size of the microgrid market began with the acquisition of data related to the revenues of key vendors in the market through secondary research. Various secondary sources have been referred to in the secondary research process for identifying and collecting information for this study. Secondary sources include annual reports, press releases, and investor presentations of companies; white papers, journals, certified publications, and articles by recognized authors; websites; directories; and databases. Secondary research has mainly been used to obtain key information about the supply chain of the microgrid market, the value chain of the market, key players, market classification, and segmentation according to the industry trends to the bottom-most level, geographic markets, and key developments from both market and technology-oriented perspectives. Secondary data has been collected and analyzed to determine the overall market size, further validated through primary research. The secondary research referred to for this research study involves the International Energy Association (IEA), Microgrid Knowledge, Solar Energy Industries Association (SEIA), Institute of Electrical and Electronics Engineers (IEEE) Smart Grid, and Clean Energy Council. Moreover, the study involved extensive use of secondary sources, directories, and databases, such as Hoovers, Bloomberg Businessweek, Factiva, and OneSource, to identify and collect valuable information for a technical, market-oriented, and commercial study of the microgrid market. Vendor offerings have been taken into consideration to determine market segmentation.
Primary Research
In the primary research, various primary sources from both the supply and demand sides have been interviewed to obtain the qualitative and quantitative information relevant to this report. Primary sources from the supply side include the key industry participants, subject-matter experts (SMEs), and C-level executives and consultants from various key companies and organizations in the microgrid ecosystem. After the complete market engineering (including calculations for the market statistics, the market breakdown, the market size estimations, the market forecasting, and the data triangulation), extensive primary research has been conducted to verify and validate the critical market numbers obtained. Extensive qualitative and quantitative analyses have been performed during the market engineering process to list key information/insights throughout the report. Extensive primary research has been conducted after understanding the microgrid market scenario through secondary research. Several primary interviews have been conducted with market experts from the demand and supply-side players across key regions, namely, the Americas, Europe, Asia Pacific, and the Rest of the World (Middle East & Africa). Various primary sources from both the supply and demand sides of the market have been interviewed to obtain qualitative and quantitative information. Following is the breakdown of the primary respondents.
Primary data has been collected through questionnaires, emails, and telephonic interviews. In the canvassing of primaries, various departments within organizations, such as sales, operations, and administration, were covered to provide a holistic viewpoint in our report. After interacting with industry experts, brief sessions were conducted with highly experienced independent consultants to reinforce the findings from our primaries. This and the in-house subject matter experts’ opinions have led us to the findings described in the remainder of this report.
To know about the assumptions considered for the study, download the pdf brochure
Market Size Estimation
The total size of the microgrid market has been estimated and validated using both top-down and bottom-up approaches. Furthermore, these methods have also been used extensively to estimate the size of various subsegments in the market. The research methodology used to estimate the market size is as follows:
- Identifying different entities influencing the value chain of the microgrid market
- Identifying major companies, system integrators, and service providers operating in the market
- Estimating the size of the microgrid market for each region based on demand for microgrids
- Tracking the ongoing and upcoming microgrid projects to forecast the market size based on these developments and other critical parameters
- All percentage shares, splits, and breakdowns have been determined using secondary sources and verified through primary sources.
- Qualitative aspects such as market drivers, restraints, opportunities, and challenges have been taken into consideration while calculating and forecasting the market size.
Global Microgrid Market Size: Bottom-Up Approach
Global Microgrid Market Size: Top-down Approach
Data Triangulation
After arriving at the overall size of the microgrid market from the market size estimation process explained above, the total market has been split into several segments and subsegments. Data triangulation and market breakdown procedures have been employed, wherever applicable, to complete the overall market engineering process and arrive at the exact statistics for all segments and subsegments of the market. The data has been triangulated by studying various factors and trends from both the demand and supply sides. Along with this, the market size has been validated using both top-down and bottom-up approaches.
Market Definition
A microgrid is a self-sufficient energy system that serves a discrete geographic footprint, such as college campuses, hospital complexes, business centers, or neighborhoods. It acts as a single controllable entity for energy generation with respect to a grid. A microgrid can be connected to or disconnected from the main grid to enable it to operate in either grid-connected or off-grid-connected (island) mode. It can be used as a backup or supplementary power source for the main grid when there is an increased demand for electricity. A microgrid comprises one or more kinds of distributed energy hardware (solar panels, wind turbines, controllers, generators) that help produce power. Microgrids are used by end users such as commercial & industrial buildings, institutes & campuses, military facilities, government buildings, healthcare facilities, remote areas, and utilities.
Stakeholders:
- Raw material suppliers and microgrid developers
- Distribution network service providers
- Power-generating companies, retailers, and consultants
- Industrial and commercial end users
- Government agencies such as energy regulators and policymakers
- Energy producers
- Electric utilities
- End-use verticals utilizing microgrid services such as commercial & industrial buildings, military facilities, remote areas, institutes & campuses, and healthcare facilities
- Consultants for ensuring energy efficiency and sustainability
- Research organizations
- Technology standard organizations, forums, alliances, and associations
- Venture capitalists, private equity firms, and startups
Report Objectives
- To define, describe, segment, and forecast the size of the microgrid market by connectivity, offering, and end-user in terms of value
- To describe the various types, patterns, power sources, and power ratings of microgrids
- To describe and forecast the market for four main regions, namely, the Americas, Asia Pacific, Europe, and Rest of the World, in terms of value
- To provide detailed information regarding the drivers, restraints, opportunities, and challenges influencing the growth of the market
- To provide a detailed overview of the value chain of the microgrid ecosystem
- To strategically analyze micro-markets with respect to individual growth trends, prospects, and their contributions to the overall market
- To strategically analyze the ecosystem, Porter’s five forces, regulations, region-wise regulations, upcoming technologies in the market, revenue shift model in the market, patent landscape, trade landscape, and case studies pertaining to the market under study
- To analyze opportunities in the market for the stakeholders by identifying high-growth segments in the market
- To strategically profile key players and provide details of the current competitive landscape
- To analyze strategic approaches adopted by players in the microgrid market, such as product launches and developments, acquisitions, collaborations, agreements, contracts, expansions, and partnerships
Available Customizations:
With the given market data, MarketsandMarkets offers customizations according to the company’s specific needs. The following customization options are available for the report:
Company Information:
- Detailed analysis and profiling of additional market players based on various blocks of the value chain.
Growth opportunities and latent adjacency in Microgrid Market
Looking to get an idea of the market share of MicroGrid controllers in the U.S. including depoyment costs.
Decentralization of energy generation is one of the important trends these days, could you share the list of ongoing and upcoming microgrid projects in Asia Pacific and the Middle East regions? Also, could you share specific information about the regulations and policies across the regions for energy saving?
I am looking for technological mix and trends - Economies of scale - Major players - Geographies likely to adapt Microgrids -Developers - Policies and regulatory support - Funding and financial viability. Can you provide this information?
Can I get an India-only cut of this report? Does it have market size projections by value chain component (e.g., building microgrids, operating and maintaining microgrids), by type (connected to main grid vs. disconnected) and sector? If so, please advise best price ASAP - I am looking to sort this out in the next 2 hours.
I am interested in commercial aspects in the US and UK only. And, would like to see information by total US and by region within the US. Is that possible? Can just the 2 countries be purchased? and if so at what cost?
We are a componment/system supplier in this market and getting this down to a unit level is helpful. I see that there is a $7m figure for a 2MW microgrid system. Should I simply divide by that? It also shows ABB with 30 projects per year. Do you have similar data to that for other companies?