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
Microgrid Market
Microgrid Market and Top Companies
Key market players profiled in microgrid market include
- ABB (Switzerland)
- General Electric (US)
- Siemens (Germany)
- Eaton Corporation (Ireland)
- Schneider Electric (France)
- Honeywell (US)
- Homer Energy (US)
- S&C Electric (US)
- Power Analytics (US)
- Exelon Corporation (US)
- ABB (Switzerland): ABB is one of the technology leaders in terms of electrification, industrial automation, motion, and robotics and discrete automation. The company serves utilities, industrial, and transportation & infrastructure sectors globally. ABB offers microgrid solutions through its Power Grids business division. In December 2018, ABB announced divestiture of a share of 80.1% (valuing at USD 11.0 billion) of its Power Grids business division to Hitachi Ltd. (Hitachi). ABB has expertise in designing and building off-grid and grid-connected microgrids. Its portfolio includes technologies, ranging from conventional and renewable power generation, automation, grid stabilization, grid connection, and energy storage to intelligent controls. The company offers consulting and other services for developing microgrids.
- General Electric (US): General Electric (GE) is one of the world’s leading high-tech industrial companies. It offers products and services for use in power generation plants, aircraft engines, medical imaging machines, industrial products, and oil & gas plants. GE provides microgrid solutions through its Power division. These solutions help in improving the grid resiliency and ensuring energy availability to critical infrastructures and remote communities. The microgrid solutions offered by the company integrate primary equipment, intelligent controls and communications, with advanced visualization and supervisory control software to monitor, track, and forecast load and energy generation sources within microgrid networks.
- Siemens (Germany): Siemens is a globally operating technology company with its core activities in the fields of electrification, automation, and digitalization. The company is among the leading suppliers of power generation and power transmission and infrastructure solutions. The company offers microgrid solutions through its Energy Management segment. It offers microgrid control- a SICAM application and microgrid management solutions (MGMS). Through its microgrid offerings, Siemens caters to the power requirements of campuses, military institutions, commercial and industrial applications, remote locations, and islands.
- Eaton Corporation (Ireland): The company is a multinational power management company. Eaton provides microgrid energy systems, which help companies to facilitate electrical energy savings, ensure grid resiliency, and enable their independence from utilities. The company operates through 6 segments—Electrical Products, Electrical Systems and Services, Hydraulics, Aerospace, Vehicle, and eMobility. Through the Electrical Systems and Services segment, the company offers power distribution systems and assemblies, electrical equipment, intrinsically safe explosion-proof instruments, utility power distribution systems, power reliability equipment, and services.
- Schneider Electric (France): The company is a global provider of energy management solutions. It provides energy management and automation solutions to the public, commercial, and industrial sectors. Schneider Electric operates through 4 business segments: Low Voltage, Medium Voltage, Industrial Automation, and Secure Power. The company offers microgrid solutions. It provides microgrid offerings to cater to the energy requirements of buildings, large sites, and districts.
- Honeywell (US): Honeywell is a diversified technology and manufacturing company, which serves its customers globally. The company operates through 4 segments—Aerospace, Honeywell Building Technologies, Performance Materials and Technologies, and Safety and Productivity Solutions. Honeywell offers products, software, solutions, and technologies for the microgrid market. It offers microgrids with 4 key elements: onsite power generation, utility interaction, intelligent controls, and ability to island from grids. Its microgrids are ideal for military sites; hospitals; research-driven universities; federal, state, and local government facilities; and data centers.
- Homer Energy (US): HOMER Energy (Hybrid Optimization of Multiple Energy Resources) is a microgrid modeling software company. It offers HOMER Pro microgrid software, which is the global standard for optimizing microgrid designs in all sectors, ranging from village power plants and island utilities to grid-connected campuses and military bases. It also provides training services, microgrid feasibility studies, microgrid design services, utility-level assistance, HOMER analysis certifications, market access services, and general microgrid consulting services for microgrids.
- S&C Electric (US): It is a global provider of electric power systems and equipment and services. t also provides grid connectivity and energy storage solutions, green grids, automatic source transfer solutions, renewable energy integration solutions, and uninterrupted and quality power supply solutions, as well as develops microgrids. S&C Electric also offers high-speed fault-clearing systems, PureWave storage management system, and IntelliTeam SG automatic restoration system for microgrids. It seamlessly integrates hardware, controls, and services for microgrids. The products offered by S&C Electric are used in electric utilities, solar energy storage, wind energy plants, and data centers, as well as in commercial and industrial applications.
- Power Analytics (US): Power Analytics is a subsidiary of Causam Energy, Inc. Power Analytics is a provider of professional engineering services and a developer of electrical power systems. It offers design, simulation, and power system analytics software. Power Analytics offers a real-time suite, which comprises Paladin DesignView, Paladin Gateway, Paladin Live, Paladin Microgrid Power Management System (MPMS), Paladin Solar, Paladin White Space Management (WSM) for data centers, and DesignBase. It also offers microgrid designing and consulting services, and power engineering designing and consulting services.
- Exelon Corporation (US): Exelon Corporation was formed following the merger of PECO (US) and Unicom (US). It is a utility services holding company that works across various stages of the energy business: power generation, competitive energy sales, transmission, and delivery. The company has various business subsidiaries, each catering to different stages of the energy business. The business subsidiaries of Exelon catering to the microgrid market are Exelon Generation and Constellation, and delivery companies such as BGE, ComEd, and PECO.
Microgrid Market and Top Connectivity Types
- Off-grid: Microgrids are termed as remote/island/off-grid connected when they operate in an island mode at all times owing to high costs of transmitted electricity from main grids or difficult geographical locations wherein they supply electricity. Off-grid microgrids are deployed in areas, which are distant from any transmission and distribution infrastructures, and have no connection to utility grids. According to the International Energy Agency, ~ 1 billion people in remote areas across the world face a shortage of reliable sources of electricity. Governments of different countries are investing in their power infrastructures to provide efficient, low-cost, and clean electricity to poorly-connected areas.
- Grid Connected: Grid connected microgrids are connected to large utility grids. They are typically used to serve both small areas comprising a few houses and large areas such as military installations. In grid connected microgrids, power transmission is dependent on the main grids; thus, any damage to these main grids affects the overall power transmission networks. Solar PV power technology is mainly used in grid connected microgrids. Grid connected microgrids comprise multiple generators, distribution systems, and sophisticated controls. The main power grids act as the main power supply for grid connected microgrids. These microgrids rely on main power grids for power balance and energy backup.
Microgrid Market and Top End Use Applications
- Commercial & Industrial: Microgrids are used in shopping complexes and industrial parks, as well as in mining, steel, chemicals, and oil & gas industries. The growth of this segment can be attributed to the consistent requirement for an uninterrupted electricity supply to carry out smooth industrial operations to reduce downtime, improve the efficiency of the workforce, and reduce equipment damages. As the achievement of carbon reduction targets is mandatory for commercial and industrial sectors, it has led to the increased adoption of microgrids for commercial & industrial end use.
- Remote: The growth of this segment of the market can be attributed to the increased adoption of microgrids in remote areas. According to the International Energy Association, ~ 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. Microgrids are established in remote areas to generate power, as well as to manage and control distributed energy resources.
- Utilities: Microgrids used by utilities are usually owned by private or government bodies. They use microgrids to manage energy usage and enhance the quality of the power supplied. In addition, microgrids help utilities to increase energy resilience. Different utility companies are partnering with microgrid developers to successfully establish microgrids. For instance, in July 2019, S&C Electric and North Bay Hydro Services, a Canada-based municipal electric utility affiliate service provider, announced the completion of the Community Energy Park project of North Bay with the successful installation of the first utility-scale advanced microgrid in Canada.
[144 Pages Report] 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.
To know about the assumptions considered for the study, Request for Free Sample Report
Market Dynamics:
Driver: Rising global demand for clean energy
Businesses and communities set clean energy goals to conserve energy and reduce the impact of power generation on the environment. Microgrids use a wide range of green power production technologies and equipment such as microturbines, combustion turbines, hybrid systems, and wind systems. These technologies are integrated with microgrids to reduce carbon footprints of electricity generation on the environment. Governments of a number of countries worldwide are taking initiatives to reduce the carbon footprints on the environment. For instance, in 2016, the Government of California (US) formulated legislation, SB 32 Bill, to reduce carbon footprints on the environment resulting from power generation, to combat climate change. According to this legislation, California is expected to reduce its carbon pollution to at least 40% below the carbon pollution levels of 1990 by 2030. Thus, the rising awareness about clean energy has led to the increased global adoption of microgrids.
Restraint: High installation costs of microgrids
The initial costs involved in the installation and maintenance of microgrids are relatively higher than traditional grids. The installation costs of microgrids are 25–30% higher than that of the conventional electricity grids. They include costs for setting up a complete microgrid infrastructure, right from the deployment of communication systems to the installation of smart meters, as well as their regular maintenance. The costs of installing smart meters are 50% higher than the costs involved in installing electric meters. Distributed energy resources (DERs) used in microgrids are costlier than the ones used in traditional centralized power stations. This acts as a barrier to the growth of the microgrid market. As microgrids can store, convert, and recycle energy, as well as offer better reliability and power quality than traditional grids, their costs are higher than traditional grids.
Opportunity: Expansion of renewable energy capacity of countries in APAC
Countries in APAC are increasingly investing to harness alternative electricity generation sources, such as wind and solar energy, to meet the growing demand for electricity in the region. China, India, and other South Asian countries are planning to expand their installed renewable energy capacity. The utilization of renewable sources of energy for electricity generation is expected to generate ample growth opportunities for the microgrid market in APAC. Moreover, highly populated countries of APAC, including China, India, Indonesia, and Malaysia, are also experiencing high rates of rural electrification, thereby acting as an opportunity for the growth of the microgrid market .
Challenge: Technical issues faced during operation of island mode microgrids
Island microgrids use more than one distributed electricity generation source. This leads to the requirement for regulating voltages during microgrid operations using voltage versus reactive power droop controllers for local reliability and stability of power systems. During the initial stages of electricity generation in microgrids operating in island mode, there is a sudden intake of current that can affect the frequency and voltages of power systems. This can cause generators to trip and go offline. This leads to the requirement for an analysis of the electricity generation methods used in microgrids that operate in island mode, as well as the requirement for specialized controls to ensure smooth microgrid operations. Thus, operating microgrids in island mode is a challenging task, which requires adequate technical knowledge.
Based on end-use, the remote segment to hold the largest share of the microgrid market
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 segment to hold a larger share 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.
APAC to witness the highest CAGR in microgrid market during the forecast period.
The market in APAC has been studied for Australia, China and Japan, and the Rest of APAC. The microgrid market in APAC is projected to grow at a fastest CAGR during the forecast period. The growth of the market in APAC can be attributed to the high rate of rural electrification in several economies such as India, Malaysia, and the Philippines of the region. A large number of islands in Indonesia and the Philippines and the lack of proper electricity infrastructure in emerging economies led to demand for cost-effective microgrids in the region as it has a large portion of unelectrified areas. This is expected to contribute to the growth of the microgrid market in APAC during the forecast period.
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
Recent Developments
- In September 2019, Honeywell signed an agreement with an energy storage solution firm, NRStor, to launch the largest behind-the-meter storage system in North America. This agreement is expected to help the company provide energy storage as a service to commercial and industrial customers.
- In September 2019, ABB signed a 5-year contract with the Austrian Power Grid (APG), the transmission system operator of Austria, to supply gas-insulated switchgear (GIS) during the most extensive electricity grid expansion expected to take place in the country.
- In June 2019, GE announced the availability of three new grid analytics, which combine domain expertise with artificial intelligence (AI) and machine learning (ML) to tackle pressing challenges of ensuring smooth electric grid operations.
- In June 2018, ABB acquired General Electric Industrial Solutions (GEIS) (US). The integration of GEIS into the Electrification Products division commenced during the second half of 2018. The USD 2.6 billion transaction offered a substantial value creation potential within ABB, including growth opportunities to be leveraged from coupling ABB’s digital offering, ABB Ability, with the extensive GEIS installed base.
- In March 2018, Siemens partnered with ComEd (US) to construct a microgrid in the Bronzevilled neighborhood on the South Side of Chicago.
Frequently Asked Questions (FAQ):
Which connectivity type of microgrid is expected to penetrate significantly during the forecast period?
The grid connected segment is expected to penetrate of the microgrid market in coming years. 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.
Which are the major companies in the microgrid market? What are their major strategies to strengthen their market presence?
The major companies in microgrid includes ABB (Switzerland), GE (US), Siemens (Germany), Eaton (Ireland), and Schneider Electric (France). ABB (Switzerland) is the dominant player in the global microgrid market is one of the technology leaders with comprehensive offerings in electrification, industrial automation, motion, and robotics, and discrete automation. The companies focus on new projects, partnerships, and expansions to maintain their market presence globally.
Which region is expected to witness significant demand for microgrid in the coming years?
The Americas is expected to have the largest market share in terms of value, 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, along with a number of initiatives such as Smart Power Infrastructure Demonstration for Energy Reliability and Security (SPIDERS) program undertaken by governments of different countries of the region to promote adoption of microgrids.
Which end users are expected to drive the growth of the market in the next 5 years?
The market for the commercial & industrial segment is expected to grow at the highest CAGR during the forecast period. The growth of this segment can be attributed to the consistent requirement for an uninterrupted electricity supply to carry out smooth industrial operations to reduce downtime, improve the efficiency of the workforce, and reduce equipment damages. .
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.
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)
Get in-depth analysis of the COVID-19 impact on the Microgrid Market
Benchmarking the rapid strategy shifts of the Top 100 companies in the Microgrid Market
Request For Special Pricing
- Triangulate with your Own Data
- Get Data as per your Format and Definition
- Gain a Deeper Dive on a Specific Application, Geography, Customer or Competitor
- Any level of Personalization
- What are the Known and Unknown Adjacencies Impacting the Microgrid Market
- What will your New Revenue Sources be?
- Who will be your Top Customer; what will make them switch?
- Defend your Market Share or Win Competitors
- Get a Scorecard for Target Partners
Growth opportunities and latent adjacency in Microgrid Market
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?