Microgrid Market with COVID-19 Impact Analysis by Connectivity (Grid Connected, Off-grid Connected), Offering (Hardware, Software, Services), End Use (Commercial & Industrial, Remote, Utilities), Pattern, Type, and Geography - Global Forecast to 2026
[249 Pages Report] The global microgrid market size is expected to reach USD 42.3 billion by 2026 from USD 24.6 billion in 2021 at a CAGR of 11.4% between 2021 and 2026.
The growth of the microgrid market is driven by factors such as rising focus on decarbonization by various end users and government, increasing demand for uninterrupted power supply, growing adoption of microgrids for rural electrification, and rising instances of cyberattacks on energy infrastructures. Initiatives by governments of different countries to encourage the development of microgrids are also fueling the growth of the industry.
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COVID-19 Impact on the Microgrid Market
The microgrid market includes key companies such as 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). These companies have their manufacturing facilities and corporate offices spread across various countries across Asia Pacific, Europe, North America, and Rows. The microgrid hardware products manufactured by these companies are purchased by several stakeholders for various end use. COVID-19 has impacted the operations of the various microgrid hardware manufacturers companies, along with businesses of their suppliers and distributors. The fall in export shipments, delay in projects, and slow domestic demand for microgrid hardware in comparison to pre COVID-19 levels is also expected to negatively impact and slightly stagnate the demand for the microgrid market in short term.
Microgrid Market Dynamics
Driver: Increasing demand for uninterrupted and reliable power supply
For more than a century, advanced economies abided by the ‘bigger is better’ philosophy for electric power supply. Massive grids were built that connected power plants to homes and businesses through wires that traversed thousands of miles. Electricity generated by large, remote power plants, which are connected to centralized power grids and use fossil fuels, is transmitted across different regions and countries. However, the shortcomings of these power plants in terms of inefficient power transmission, have become increasingly evident. Conventional grids are largely dependent on fossil fuels for electricity generation, leading to pollution and global warming. These grids are also vulnerable to natural calamities that usually result in network malfunctioning or blackouts. For instance, Hurricane Sandy that occurred in the US and Typhoon Haiyan that took place in the Philippines resulted in mass blackouts in major areas, such as New York and the islands of Leyte. For several days after the calamities, these areas lost access to electricity, leading to the growing demand for self-power generating plants or microgrids.
According to the Eaton Blackout Tracker, there were more than 3,500 utility outages in the US in 2017. From 2016 to 2017, the duration of electric power outages in the country doubled, with an increase in extreme weather occurrences. A similar trend of increasing outages was also observed in 2018 and 2019, resulting in the growing adoption of microgrids in the US.
Restraint: Huge installation and maintenance costs of microgrids
The initial costs involved in the installation and maintenance of microgrids are 25%–30% higher than that of 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 also costlier than those used in traditional centralized power stations.
The capital expense to build a new microgrid or convert another system to a hybrid microgrid can range from the tens of thousands to hundreds of millions of dollars. The most expensive part of a microgrid is the generation assets such as solar PV arrays, batteries, and/or combined heat and power systems. A large amount of capital is also required for investments in grid automation, and microgrid controls systems that can intelligently monitor and manage all the components, controlling the way the microgrid consumes and produces energy. 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. This acts as a barrier to the growth of the microgrid market.
Opportunity: Rising investor interest in EaaS business model to minimize costs
Energy-as-a-Service (EaaS) is a business model whereby customers pay for an energy service without having to make any upfront capital investments. EaaS agreements operate under the premise that the risk should not be placed upon the microgrid host. These agreements can be highly customized to the host’s energy need, goals, local regulations, and available energy resources; monthly service fees are based on usage. The EaaS model has various benefits. For instance, since microgrid construction is flexible, there is no need to build the project all at once. If the host expands operations later, perhaps, when a business park adds more buildings, microgrid capacity can be added. This flexibility also allows the microgrid to incorporate new technologies.
In 2018, Schneider Electric, with Duke Energy’s REC Solar business unit, deployed an advanced microgrid at Schneider’s Foxboro, Massachusetts facility. The microgrid was the third project to be financed with an innovative Microgrid as a Service (MaaS) business model, which was created to offer greater power resilience to industrial and commercial customers, without requiring an upfront outlay of capital.
Challenge: Lack of standard and regulatory frameworks related to microgrid operations
Microgrid technology, being relatively new, is still dynamic and volatile in terms of regulatory frameworks. For instance, regulations and policies for the integration of microgrids with large grids are still being formulated. The existing regulatory frameworks pose some barriers to the acceptance of microgrids. For instance, according to the Institute of Electrical and Electronics Engineers (IEEE) Standard 1547, grid-connected power inverters detect faults in grids and cause shutdowns. This standard is driving research in the area of static switches used in microgrids that are capable of disconnecting and reconnecting grids in sub-cycle times. Research on the formulation of new standards related to the operations of microgrids and the new generation of energy management systems is also being conducted. Microgrids, which can help improve access to electricity, can be fully leveraged only with the help of a proper regulatory framework, which is currently missing. Thus, the lack of standard and regulatory frameworks related to microgrid operations acts as a challenge for the growth of the microgrid industry.
Grid connected segment to register higher CAGR during the forecast period
The grid connected segment is projected to register the higher CAGR during the forecast period, by connectivity. Grid connected microgrids comprise multiple generators, distribution systems, and sophisticated controls. They offer a number of benefits, such as grid resiliency, improved power quality, and low impact on the environment, thereby leading to increased demand. The growth of this segment can be attributed to the expansion of utility-based grid networks globally, coupled with the large-scale harnessing of renewable sources of energy, including offshore winds.
Controllers for microgrid hardware segment is expected to witness higher CAGR growth during the forecast period
The microgrid market for controllers segment is projected to register the higher CAGR during the forecast period, by hardware type. Smart meters are expected to witness increased demand globally due to the growing requirement for record maintenance by utility companies for monitoring and billing purposes. Smart meters enable remote data collection for billing and offer improved power quality (PQ).
The commercial & industrial segment for the microgrid market is expected to witness higher CAGR growth during the forecast period
The microgrid market for the commercial & industrial segment is estimated to grow at the highest CAGR during the forecast period, by end use. The growth of this segment can be attributed to the consistent requirement for uninterrupted electricity supply to carry out smooth industrial operations to lower downtime, improve the efficiency of the workforce, and reduce equipment damages. Increasing government initiatives to promote the use of clean energy and minimize greenhouse gas (GHG) emissions is also driving the growth of the microgrid market for commercial & industrial end use.
APAC is projected to register the highest CAGR growth during the forecast period
APAC is likely to be the fastest-growing microgrid market 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. The large number of unelectrified islands in Indonesia and the Philippines, and the lack of proper electricity infrastructure in emerging economies led to the demand for cost-effective microgrids in the region.
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Top Key Players in Microgrid Market
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ABB (Switzerland),
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General Electric (US),
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Siemens (Germany),
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Eaton Corporation (Ireland),
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Schneider Electric (France),
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Honeywell (US), and more
HOMER Energy (US), S&C Electric (US), Power Analytics (US), Exelon Corporation (US), Pareto Energy (US), Anbaric Transmission (US), Tesla (US), Spirae (US), General MicroGrids (US), Gram Power (US), Powerhive (US), Advanced Microgrid Solutions (US), Go Electric (US), DAJIE (UK), Canopy Power (Singapore), Green Energy Corp (US), PowerSecure, a subsidiary of Southern Company (US), Viridity Energy by Ormat Technologies (US), and Ferroamp (Sweden).
These companies have adopted both organic and inorganic growth strategies such as product launches and developments, partnerships, contracts, expansions, and acquisitions to strengthen their position in the market.
Microgrid Market Size and Scope
|
Report Metric |
Details |
|
Market Size Available for Years |
2017–2026 |
|
Forecast Period |
2021–2026 |
|
Forecast Unit |
Value (USD Million/Billion) |
|
Segments Covered |
By Connectivity, Offering, Type, Patterns, End Use, and Region |
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Base Year |
2020 |
This report categorizes the microgrid market based on connectivity, offering, type, patterns, end use, and region available at the regional and global level
By Connectivity
- Grid Connected
- Off-grid Connected
By Offering
- Hardware
- Software
- Services
By Type
- AC Microgrids
- DC Microgrids
- Hybrid
By Patterns
- Urban/Metropolitan
- Semiurban
- Rural/Island
By End Use
- Utilities
- Commercial & Industrial
- Institutes & Campuses
- Military
- Remote
- Government
- Healthcare
By Region
- APAC
- North America
- South America
- Europe
- RoW
Recent Developments
- In April 2021, Hitachi ABB Power Grids launched EconiQ™ – its portfolio of products, services and solutions that are proven to deliver exceptional environmental performance. With EconiQ, the company is reinforcing its commitment towards a carbon-neutral energy future.
- In April 2021, GE Renewable Energy’s Grid Solutions business and Hitachi ABB Power Grids Ltd. announced a cross-licensing agreement related to the use of an alternative to the sulfur hexafluoride (SF6) gas used in high voltage equipment. Both companies will share complementary intellectual property related to their respective SF6-free solutions.
- In April 2021, Siemens Smart Infrastructure launched the new Sentron 3NA COM LV HRC fuse link with integrated communication and measurement functionality.
- In May 2021, Hitachi ABB Power Grids Ltd. announced that it had won an order from Windtel, the Poland-based construction company, to provide a high-voltage grid connection for the 65-megawatt (MW) Witnica Solar Park in northern Poland.
- In March 2021, Siemens and Ellevio, Sweden’s second-largest grid company, has contracted to deliver a new grid control system for its distribution network.
- In January 2021, Eaton signed an agreement to acquire Tripp Lite, a leading supplier of power quality products and connectivity solutions including single-phase uninterruptible power supply systems, rack power distribution units, surge protectors, and enclosures for data centers, industrial, medical, and communications industry in the Americas.
- In November 2020, Siemens Smart infrastructure is continually expanding its portfolio for climate-neutral power distribution. The company has completely eliminated fluorine-based gas mixtures (F-gases) while retaining the compact design and safe, proven operation.
- In August 2020, Eaton launched the Pow-R-Line Xpert family of intelligent panel boards and switchboards, which are the first in the industry to feature real-time breaker health monitoring.
- In July 2020, GE has partnered with Oman Electricity Transmission Company (OETC) to drive the digitalization of Oman’s power grid, starting with the implementation of an asset performance management solution covering six key 400 kV substations under OETC.
- In July 2020, Siemens has entered into investment and framework agreements with Berkeley Energy Commercial Industrial Solutions (BECIS).
- In February 2020, Through a partnership with Schneider Electric, license partner, Tricolite Electrical Industries Ltd. will engineer, assemble, test, market and sell PremSet, the new generation MV switchgears, using Schneider’s technological know-how and innovation.
- In November 2019, Siemens launched its new Grid Diagnostic Suite, which initially includes four cloud-based applications that collect data from new or existing field devices for protection, distribution automation and power quality.
- In June 2019, GE announced the availability of three new grid analytics solutions, which combine domain expertise with artificial intelligence (AI) and machine learning (ML) to tackle the challenges of ensuring smooth electric grid operations.
- In April 2019, ABB partnered with Rolls-Royce Power Systems (Germany) for developing microgrid technology that integrates digital technology and efficient hybrid power systems. This is expected to help the company offer an innovative and energy-efficient microgrid solution for utilities, as well as commercial and industrial entities.
Frequently Asked Questions (FAQ):
What is the current size of the global microgrid market?
The global microgrid market is estimated to grow from USD 24.6 billion in 2021 to USD 42.3 billion by 2026 at a CAGR of 11.4% during 2021–2026. The growth of the microgrid market is driven by factors such as rising focus on decarbonization by various end users and government, increasing demand for uninterrupted power supply, growing adoption of microgrids for rural electrification, and rising instances of cyberattacks on energy infrastructures. Initiatives by governments of different countries to encourage the development of microgrids are also fueling the growth of the market.
Who are the key players in the global microgrid market?
Companies such as ABB (ABB, Switzerland), General Electric Company (GE, US), Siemens AG (Siemens, Germany), Eaton Corporation Inc. (Eaton, Ireland), and Schneider Electric SE (Schneider Electric, France). These companies cater to the requirements of their customers by providing advanced microgrids with a presence in multiple countries.
What is the COVID-19 impact on microgrid suppliers?
The shutdown of manufacturing facilities globally combined with strict restrictions over social movement in various COVID-19 affected countries impacted the operations of microgrid hardware and related components manufacturing facilities. Additionally, COVID-19 is expected to have led to a delay in the upcoming projects and installations of microgrids. All these factors resulted in a marginal dip of the market size of microgrid. The supply chain disruptions have led to the procurement of raw materials or commodities from localized sources to ensure their continuous supply.
What are the opportunities for the existing players and for those who are planning to enter various stages of the microgrid value chain?
There are various opportunities for the existing players to enter the value chain of microgrid market. Some of these include developing microgrid controllers, renewable energy storage systems, and smart microgrids for various end use, and offering innovative microgrid hardware devices and software solutions with major focus on integration of technology and data management. .
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TABLE OF CONTENTS
1 INTRODUCTION (Page No. - 28)
1.1 STUDY OBJECTIVES
1.2 DEFINITION AND SCOPE
1.2.1 INCLUSIONS AND EXCLUSIONS: OFFERING SEGMENT
1.2.2 INCLUSIONS AND EXCLUSIONS: OTHER SEGMENTS
1.3 STUDY SCOPE
1.3.1 MARKETS COVERED
FIGURE 1 MARKET SEGMENTATION
1.3.2 REGIONAL SCOPE
1.3.3 YEARS CONSIDERED
1.4 CURRENCY
1.5 LIMITATIONS
1.6 SUMMARY OF CHANGES
1.7 STAKEHOLDERS
2 RESEARCH METHODOLOGY (Page No. - 33)
2.1 RESEARCH DATA
FIGURE 2 MICROGRID MARKET: RESEARCH DESIGN
2.1.1 SECONDARY DATA
2.1.1.1 Major secondary sources
2.1.1.2 Key data from secondary sources
2.1.2 PRIMARY DATA
2.1.2.1 Primary interviews with experts
2.1.2.2 List of key primary interview participants
2.1.2.3 Breakdown of primaries
2.1.2.4 Key data from primary sources
2.1.3 SECONDARY AND PRIMARY RESEARCH
2.1.3.1 Key industry insights
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
FIGURE 3 MARKET SIZE ESTIMATION METHODOLOGY: BOTTOM-UP APPROACH
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
FIGURE 4 MARKET SIZE ESTIMATION METHODOLOGY: TOP-DOWN APPROACH
2.2.3 MICROGRID MARKET: SUPPLY-SIDE ANALYSIS
FIGURE 5 MARKET SIZE ESTIMATION METHODOLOGY: APPROACH 1 (SUPPLY SIDE): REVENUE GENERATED FROM SALES OF MICROGRIDS
FIGURE 6 MARKET SIZE ESTIMATION METHODOLOGY: APPROACH 2 (SUPPLY SIDE): REVENUE FROM MICROGRID HARDWARE, SOFTWARE & SERVICES
2.2.4 MICROGRID MARKET: DEMAND-SIDE ANALYSIS
FIGURE 7 MARKET SIZE ESTIMATION METHODOLOGY: APPROACH 3 (DEMAND SIDE) – BOTTOM-UP APPROACH FOR ESTIMATION OF SIZE OF MICROGRID MARKET BASED ON REGION
2.2.5 GROWTH FORECAST ASSUMPTIONS
2.3 MARKET BREAKDOWN AND DATA TRIANGULATION
FIGURE 8 DATA TRIANGULATION METHODOLOGY
2.4 RESEARCH ASSUMPTIONS
3 EXECUTIVE SUMMARY (Page No. - 46)
FIGURE 9 MICROGRID MARKET: PRE- AND POST-COVID-19 SCENARIO ANALYSIS, 2017–2026 (USD BILLION)
3.1 REALISTIC SCENARIO (POST-COVID-19)
3.2 OPTIMISTIC SCENARIO (POST-COVID-19)
3.3 PESSIMISTIC SCENARIO (POST-COVID-19)
FIGURE 10 MICROGRID MARKET FOR GRID CONNECTED SEGMENT TO RECORD HIGHEST CAGR FROM 2021 TO 2026
FIGURE 11 HARDWARE SEGMENT TO ACCOUNT FOR LARGEST SIZE OF MARKET FROM 2021 TO 2026
FIGURE 12 CONTROLLERS SEGMENT TO RECORD HIGHEST CAGR IN MICROGRID HARDWARE MARKET FROM 2021 TO 2026
FIGURE 13 REMOTE END USE SEGMENT TO HOLD LARGEST SHARE OF MICROGRID MARKET FROM 2021 TO 2026
FIGURE 14 MARKET IN APAC TO RECORD HIGHEST CAGR DURING FORECAST PERIOD
4 PREMIUM INSIGHT (Page No. - 51)
4.1 ATTRACTIVE GROWTH OPPORTUNITIES IN MICROGRID MARKET
FIGURE 15 INCREASING DEMAND FOR UNINTERRUPTED AND RELIABLE POWER SUPPLY DRIVING GROWTH OF MARKET
4.2 MICROGRID MARKET IN APAC, BY END USE AND COUNTRY
FIGURE 16 REMOTE SEGMENT AND AUSTRALIA TO ACCOUNT FOR LARGEST SHARES OF MARKET IN APAC IN 2020
4.3 MICROGRID MARKET, BY OFFERING
FIGURE 17 HARDWARE SEGMENT TO HOLD LARGEST SIZE OF MARKET DURING FORECAST PERIOD
4.4 MICROGRID MARKET, BY HARDWARE TYPE
FIGURE 18 POWER GENERATORS SEGMENT TO ACCOUNT FOR LARGEST SIZE OF MICROGRID HARDWARE MARKET FROM 2021 TO 2026
4.5 MICROGRID MARKET, BY CONNECTIVITY
FIGURE 19 GRID CONNECTED SEGMENT TO ACCOUNT FOR LARGER SIZE OF MARKET FROM 2021 TO 2026
4.6 MICROGRID MARKET, BY END USE
FIGURE 20 COMMERCIAL & INDUSTRIAL SEGMENT TO HOLD LARGEST SIZE OF MARKET DURING FORECAST PERIOD
4.7 REGIONAL ANALYSIS OF MICROGRID MARKET
FIGURE 21 AMERICAS TO HOLD LARGEST SHARE OF MICROGRID MARKET FROM 2021 TO 2026
5 MARKET OVERVIEW (Page No. - 55)
5.1 INTRODUCTION
5.2 MARKET DYNAMICS
FIGURE 22 MICROGRID MARKET: DRIVERS, RESTRAINTS, OPPORTUNITIES, AND CHALLENGES
5.2.1 DRIVERS
5.2.1.1 Rising focus on decarbonization by various end users and governments
FIGURE 23 NUMBER OF MICROGRID PROJECTS, BY SIZE /CAPACITY (MW), 2017–2026
5.2.1.2 Increasing demand for uninterrupted and reliable power supply
FIGURE 24 ABB MICROGRID PROJECTS, 2000–2019
5.2.1.3 Growing adoption of microgrids for rural electrification
5.2.1.4 Rising instances of cyberattacks on energy infrastructures
FIGURE 25 DRIVERS AND THEIR IMPACT ON MICROGRID MARKET
5.2.2 RESTRAINTS
5.2.2.1 Huge installation and maintenance costs of microgrids
FIGURE 26 RESTRAINTS AND THEIR IMPACT ON MICROGRID MARKET
5.2.3 OPPORTUNITIES
5.2.3.1 Growing number of microgrid projects for different verticals
TABLE 1 MICROGRID PROJECTS IN VARIOUS VERTICALS WORLDWIDE
FIGURE 27 MICROGRID PROJECT COUNT, BY REGION, 2017–2026
5.2.3.2 Increasing energy demand and need for expansion of renewable energy in APAC
5.2.3.3 Rising investor interest in EaaS business model to minimize costs
TABLE 2 BUSINESS MODEL OF COMPANIES IN MICROGRID ECOSYSTEM
5.2.3.4 Government support to encourage development of microgrids
FIGURE 28 MICROGRID INSTALLED BASE, BY REGION, 2017–2026 (MW)
FIGURE 29 OPPORTUNITIES AND THEIR IMPACT ON MICROGRID MARKET
5.2.4 CHALLENGES
5.2.4.1 Lack of standard and regulatory frameworks related to microgrid operations
5.2.4.2 Technical challenges of island mode microgrids
FIGURE 30 CHALLENGES AND THEIR IMPACT ON MICROGRID MARKET
6 INDUSTRY TRENDS (Page No. - 67)
6.1 INTRODUCTION
6.2 VALUE CHAIN ANALYSIS
FIGURE 31 MICROGRID MARKET: VALUE CHAIN ANALYSIS
6.3 ECOSYSTEM/MARKET MAP
TABLE 3 MICROGRID MARKET: SUPPLY CHAIN
6.4 TRENDS/DISRUPTIONS IMPACTING CUSTOMER’S BUSINESS
6.4.1 EMERGING AREAS AND REVENUE POCKETS FOR MICROGRID MARKET
FIGURE 32 REVENUE SHIFT FOR MICROGRID MARKET
6.5 KEY TECHNOLOGY TRENDS
6.5.1 BLOCKCHAIN BASED MICROGRIDS/ BLOCKCHAIN MICROGRID
6.5.2 SMART MICROGRIDS
6.5.3 ADVENT OF AI BASED MICROGRIDS
6.6 PRICING ANALYSIS
FIGURE 33 MICROGRID PRICING TREND FOR GRID STORAGE AND GRID GENERATION (USD MILLION/MW)
TABLE 4 MICROGRID SOFTWARE & SERVICE COST PER MONTH FOR DIFFERENT END USERS IN 2020
TABLE 5 AUTOMATION CONTROLLER PRICE FOR MICROGRIDS IN 2020
6.7 LIST OF KEY PATENTS AND INNOVATIONS
FIGURE 34 NUMBER OF PATENTS/DOCUMENTS FILED BY TOP APPLICANTS FOR MICROGRIDS WORLDWIDE, 2017–2020
FIGURE 35 COUNTRY-WISE ANALYSIS OF PATENTS FILED BY PLAYERS IN MICROGRID MARKET, 2017–2020
TABLE 6 KEY PATENTS AND INNOVATIONS IN MICROGRID MARKET, 2017–2021
6.8 TRADE DATA
TABLE 7 EXPORT DATA FOR ELECTRIC MOTORS AND GENERATORS, HS CODE: 8501 (USD MILLION)
FIGURE 36 ELECTRIC MOTORS AND GENERATORS - EXPORT VALUE FOR MAJOR COUNTRIES, 2016–2020
TABLE 8 IMPORT DATA FOR ELECTRIC MOTORS AND GENERATORS, HS CODE: 8501 (USD MILLION)
FIGURE 37 ELECTRIC MOTORS AND GENERATORS - IMPORT VALUE FOR MAJOR COUNTRIES, 2016–2020
6.9 CASE STUDIES: MICROGRID MARKET
6.9.1 GE: UNIVERSITY OF ONTARIO INSTITUTE OF TECHNOLOGY (CANADA)
TABLE 9 GE: BATTERY ENERGY STORAGE SYSTEM (BESS) FOR CAMPUS
6.9.2 GE: NAVY SHIPYARD PROJECT IN PHILADELPHIA (US)
TABLE 10 GE: MICROGRID ENERGY MANAGEMENT SYSTEM
6.9.3 HOMER ENERGY: ACE NATURAL, NEW YORK (US)
TABLE 11 HOMER ENERGY: HOMER GRID
6.9.4 S&C ELECTRIC: HALF MOON VENTURES, MINSTER, OHIO (US)
TABLE 12 S&C ELECTRIC: ENERGY STORAGE FOR MICROGRIDS
6.9.5 S&C ELECTRIC: ERGON ENERGY, QUEENSLAND (AUSTRALIA)
TABLE 13 S&C ELECTRIC: ENERGY STORAGE SYSTEM FOR MICROGRIDS
6.10 TARIFF AND REGULATORY LANDSCAPE
6.10.1 CARBON-REDUCTION POLICY TRENDS IN ENERGY
6.10.2 CLIMATE SOLUTIONS ACT
6.10.3 TARRIF AND REGULATIONS IN PRECISION FARMING AND SMART GREENHOUSES
TABLE 14 TARIFF REGULATIONS: PRECISION FARMING AND SMART GREENHOUSES
6.11 PORTER’S FIVE FORCES ANALYSIS
FIGURE 38 MICROGRID MARKET: PORTER’S FIVE FORCES ANALYSIS
TABLE 15 MICROGRID MARKET: PORTER’S FIVE FORCES ANALYSIS, 2020
6.11.1 THREAT OF NEW ENTRANTS
6.11.2 THREAT OF SUBSTITUTES
6.11.3 BARGAINING POWER OF SUPPLIERS
6.11.4 BARGAINING POWER OF BUYERS
6.11.5 INTENSITY OF COMPETITIVE RIVALRY
7 MICROGRID MARKET, BY CONNECTIVITY (Page No. - 86)
7.1 INTRODUCTION
TABLE 16 MICROGRID MARKET, BY CONNECTIVITY, 2017–2020 (USD BILLION)
FIGURE 39 GRID CONNECTED MICROGRIDS TO ACCOUNT FOR LARGER SIZE OF MARKET DURING FORECAST PERIOD
TABLE 17 MICROGRID MARKET, BY CONNECTIVITY, 2021–2026 (USD BILLION)
7.2 OFF-GRID CONNECTED
7.2.1 GROWING OFF-GRID SOLAR PROJECTS TO CREATE NEW MARKET OPPORTUNITIES
TABLE 18 OFF-GRID CONNECTED MARKET, BY REGION, 2017–2020 (USD BILLION)
FIGURE 40 AMERICAS TO HOLD LARGEST SIZE OF OFF-GRID CONNECTED MICROGRID MARKET DURING FORECAST PERIOD
TABLE 19 OFF-GRID CONNECTED MARKET, BY REGION, 2021–2026 (USD BILLION)
TABLE 20 OFF-GRID CONNECTED MARKET, BY END USER, 2017–2020 (USD BILLION)
TABLE 21 OFF-GRID CONNECTED MARKET, BY END USER, 2021–2026 (USD BILLION)
7.3 GRID CONNECTED
7.3.1 GRID CONNECTED SEGMENT ACCOUNTED FOR LARGER SIZE OF MARKET IN 2020
TABLE 22 GRID CONNECTED MARKET, BY REGION, 2017–2020 (USD BILLION)
TABLE 23 GRID CONNECTED MARKET, BY REGION, 2021–2026 (USD BILLION)
TABLE 24 GRID CONNECTED MARKET, BY END USER, 2017–2020 (USD BILLION)
TABLE 25 GRID CONNECTED MARKET, BY END USER, 2021–2026 (USD BILLION)
8 MICROGRID MARKET, BY OFFERING (Page No. - 93)
8.1 INTRODUCTION
TABLE 26 MICROGRID MARKET, BY OFFERING, 2017–2020 (USD BILLION)
FIGURE 41 HARDWARE SEGMENT TO ACCOUNT FOR LARGEST SIZE OF MARKET DURING FORECAST PERIOD
TABLE 27 MICROGRID MARKET, BY OFFERING, 2021–2026 (USD BILLION)
TABLE 28 MICROGRID HARDWARE MARKET, BY TYPE, 2017–2020 (USD BILLION)
TABLE 29 MICROGRID HARDWARE MARKET, BY TYPE, 2021–2026 (USD BILLION)
8.2 HARDWARE
TABLE 30 MICROGRID HARDWARE MARKET, BY REGION, 2017–2020 (USD BILLION)
FIGURE 42 MICROGRID MARKET IN APAC TO WITNESS HIGHEST CAGR DURING FORECAST PERIOD
TABLE 31 MICROGRID HARDWARE MARKET, BY REGION, 2021–2026 (USD BILLION)
8.2.1 POWER GENERATORS
8.2.1.1 Power generators segment to account for largest size of microgrid hardware market from 2021 to 2026
TABLE 32 MICROGRID HARDWARE MARKET FOR POWER GENERATORS, BY REGION, 2017–2020 (USD BILLION)
TABLE 33 MICROGRID HARDWARE MARKET FOR POWER GENERATORS, BY REGION, 2021–2026 (USD BILLION)
8.2.2 ENERGY STORAGE & DISTRIBUTION SYSTEMS
8.2.2.1 Growing need for energy storage systems to optimize delivery of power
TABLE 34 MICROGRID HARDWARE MARKET FOR ENERGY STORAGE & DISTRIBUTION SYSTEMS, BY REGION, 2017–2020 (USD BILLION)
TABLE 35 MICROGRID HARDWARE MARKET FOR ENERGY STORAGE & DISTRIBUTION SYSTEMS, BY REGION, 2021–2026 (USD BILLION)
8.2.3 CONTROLLERS
8.2.3.1 Required to monitor and optimally carry out different functions of microgrids
TABLE 36 MICROGRID HARDWARE MARKET FOR CONTROLLERS, BY REGION, 2017–2020 (USD BILLION)
TABLE 37 MICROGRID HARDWARE MARKET FOR CONTROLLERS, BY REGION, 2021–2026 (USD BILLION)
8.3 SOFTWARE
8.3.1 SOFTWARE SEGMENT OF MICROGRID MARKET PROJECTED TO RECORD HIGHEST CAGR FROM 2021 TO 2026
TABLE 38 MICROGRID SOFTWARE MARKET, BY REGION, 2017–2020 (USD BILLION)
TABLE 39 MICROGRID SOFTWARE MARKET, BY REGION, 2021–2026 (USD BILLION)
8.4 SERVICES
8.4.1 RISING NUMBER OF MICROGRID INSTALLATIONS TO CREATE NEW OPPORTUNITIES FOR SERVICES SEGMENT
TABLE 40 MICROGRID SERVICES MARKET, BY REGION, 2017–2020 (USD BILLION)
TABLE 41 MICROGRID SERVICES MARKET, BY REGION, 2021–2026 (USD BILLION)
9 TYPES OF MICROGRIDS (Page No. - 104)
9.1 INTRODUCTION
9.2 AC MICROGRIDS
9.2.1 ELIMINATE REQUIREMENT FOR INVERTERS TO SUPPLY POWER TO AC LOADS
9.3 DC MICROGRIDS
9.3.1 OFFER HIGHER EFFICIENCY, RELIABILITY, AND STABILITY
9.4 HYBRID
9.4.1 USE OF DIFFERENT ENERGY SOURCES FOR POWER GENERATION REDUCES DEPENDENCE ON FOSSIL FUEL
10 PATTERNS OF MICROGRIDS (Page No. - 106)
10.1 INTRODUCTION
10.2 URBAN/METROPOLITAN
10.2.1 INCREASING DEVELOPMENT OF MICROGRIDS IN URBAN AREAS LEADING TO GROWTH OF MICROGRID MARKET
FIGURE 43 DRIVERS OF MICROGRID MARKET IN URBAN/METROPOLITAN SEGMENT
10.3 SEMIURBAN
10.3.1 GROWING INITIATIVES TO DEVELOP MICROGRIDS FOR SEMIURBAN AREAS IN VARIOUS COUNTRIES
10.4 RURAL/ISLAND
10.4.1 LARGE NUMBER OF ELECTRIFICATION PROJECTS LEADING TO GROWTH OF MICROGRID MARKET
11 MICROGRID MARKET, BY END USE (Page No. - 109)
11.1 INTRODUCTION
TABLE 42 MICROGRID MARKET, BY END USE, 2017–2020 (USD BILLION)
FIGURE 44 REMOTE END USE SEGMENT TO ACCOUNT FOR LARGEST SIZE OF MARKET DURING FORECAST PERIOD
TABLE 43 MICROGRID MARKET, BY END USE, 2021–2026 (USD BILLION)
11.2 COMMERCIAL & INDUSTRIAL
11.2.1 COMMERCIAL & INDUSTRIAL SEGMENT TO RECORD HIGHEST CAGR FROM 2021 TO 2026
TABLE 44 MARKET FOR COMMERCIAL & INDUSTRIAL, BY REGION, 2017–2020 (USD BILLION)
TABLE 45 MARKET FOR COMMERCIAL & INDUSTRIAL, BY REGION, 2021–2026 (USD BILLION)
11.3 REMOTE
11.3.1 MICROGRID MARKET IN APAC FOR REMOTE SEGMENT TO RECORD HIGHEST CAGR FROM 2021 TO 2026
TABLE 46 MARKET FOR REMOTE, BY REGION, 2017–2020 (USD BILLION)
FIGURE 45 APAC TO WITNESS HIGHEST CAGR IN REMOTE END USE SEGMENT FROM 2021 TO 2026
TABLE 47 MARKET FOR REMOTE, BY REGION, 2021–2026 (USD BILLION)
11.4 INSTITUTES & CAMPUSES
11.4.1 INCREASED ADOPTION OF MICROGRIDS TO ENSURE UNINTERRUPTED POWER SUPPLY
TABLE 48 MARKET FOR INSTITUTES & CAMPUSES, BY REGION, 2017–2020 (USD BILLION)
TABLE 49 MARKET FOR INSTITUTES & CAMPUSES, BY REGION, 2021–2026 (USD BILLION)
11.5 GOVERNMENT
11.5.1 DECLINE IN PRICES OF ELECTRICITY GENERATED FROM RENEWABLE ENERGY SOURCES LEADING TO RISING ADOPTION OF MICROGRIDS
TABLE 50 MARKET FOR GOVERNMENT, BY REGION, 2017–2020 (USD BILLION)
TABLE 51 MARKET FOR GOVERNMENT, BY REGION, 2021–2026 (USD BILLION)
11.6 UTILITIES
11.6.1 MICROGRIDS PROVIDE UTILITIES WITH LESS EXPENSIVE ALTERNATIVE
TABLE 52 MARKET FOR UTILITIES, BY REGION, 2017–2020 (USD BILLION)
FIGURE 46 AMERICAS TO DOMINATE MICROGRID MARKET FOR MILITARY USE SEGMENT FROM 2021 TO 2026
TABLE 53 MARKET FOR UTILITIES, BY REGION, 2021–2026 (USD BILLION)
11.7 MILITARY
11.7.1 WIDE USE OF MICROGRIDS FOR ENERGY SECURITY AND RESILIENCY
TABLE 54 MARKET FOR MILITARY, BY REGION, 2017–2020 (USD BILLION)
TABLE 55 MARKET FOR MILITARY, BY REGION, 2021–2026 (USD BILLION)
11.8 HEALTHCARE
11.8.1 RISING ADOPTION OF MICROGRIDS IN HOSPITALS DURING COVID-19 PANDEMIC
TABLE 56 MARKET FOR HEALTHCARE, BY REGION, 2017–2020 (USD BILLION)
TABLE 57 MARKET FOR HEALTHCARE, BY REGION, 2021–2026 (USD BILLION)
12 GEOGRAPHIC ANALYSIS (Page No. - 121)
12.1 INTRODUCTION
FIGURE 47 MARKET IN SOUTH KOREA TO RECORD HIGHEST CAGR FROM 2021 TO 2026
TABLE 58 MICROGRID MARKET, BY REGION, 2017–2020 (USD BILLION)
TABLE 59 MICROGRID MARKET, BY REGION, 2021–2026 (USD BILLION)
TABLE 60 MICROGRID INSTALLED CAPACITY, BY REGION, 2017–2020 (MW)
TABLE 61 MICROGRID INSTALLED CAPACITY, BY REGION, 2021–2026 (MW)
12.2 AMERICAS
FIGURE 48 AMERICAS: MICROGRID MARKET SNAPSHOT
TABLE 62 MICROGRID MARKET IN AMERICAS, BY REGION, 2017–2020 (USD BILLION)
TABLE 63 MARKET IN AMERICAS, BY REGION, 2021–2026 (USD BILLION)
TABLE 64 MARKET IN AMERICAS, BY CONNECTIVITY, 2017–2020 (USD BILLION)
TABLE 65 MARKET IN AMERICAS, BY CONNECTIVITY, 2021–2026 (USD BILLION)
TABLE 66 MARKET IN AMERICAS, BY OFFERING, 2017–2020 (USD BILLION)
TABLE 67 MARKET IN AMERICAS, BY OFFERING, 2021–2026 (USD BILLION)
TABLE 68 MICROGRID HARDWARE MARKET IN AMERICAS, BY TYPE, 2017–2020 (USD BILLION)
TABLE 69 MICROGRID HARDWARE MARKET IN AMERICAS, BY TYPE, 2021–2026 (USD BILLION)
TABLE 70 MARKET IN AMERICAS, BY END USE, 2017–2020 (USD BILLION)
TABLE 71 MARKET IN AMERICAS, BY END USE, 2021–2026 (USD BILLION)
12.2.1 NORTH AMERICA
TABLE 72 MICROGRID MARKET IN NORTH AMERICA, BY COUNTRY, 2017–2020 (USD BILLION)
TABLE 73 MARKET IN NORTH AMERICA, BY COUNTRY, 2021–2026 (USD BILLION)
TABLE 74 MARKET IN NORTH AMERICA, BY CONNECTIVITY, 2017–2020 (USD BILLION)
TABLE 75 MARKET IN NORTH AMERICA, BY CONNECTIVITY, 2021–2026 (USD BILLION)
TABLE 76 MARKET IN NORTH AMERICA, BY OFFERING, 2017–2020 (USD BILLION)
TABLE 77 MARKET IN NORTH AMERICA, BY OFFERING, 2021–2026 (USD BILLION)
TABLE 78 MICROGRID HARDWARE MARKET IN NORTH AMERICA, BY TYPE, 2017–2020 (USD BILLION)
TABLE 79 MICROGRID HARDWARE MARKET IN NORTH AMERICA, BY TYPE, 2021–2026 (USD BILLION)
TABLE 80 MARKET IN NORTH AMERICA, BY END USE, 2017–2020 (USD BILLION)
TABLE 81 MICROGRID MARKET IN NORTH AMERICA, BY END USER, 2021–2026 (USD BILLION)
12.2.1.1 US
12.2.1.1.1 Growing use of renewable energy sources in microgrids and presence of key players to drive market from 2021 to 2026
TABLE 82 MICROGRID PROJECTS IN THE US FROM 2017 TO 2020
12.2.1.2 Canada
12.2.1.2.1 Remote communities to create opportunities for microgrid developers
TABLE 83 MICROGRID PROJECTS IN CANADA FROM 2017 TO 2019
12.2.1.3 Mexico
12.2.1.3.1 Mexican market to record highest CAGR in North America from 2021 to 2026
12.2.2 SOUTH AMERICA
TABLE 84 MICROGRID MARKET IN SOUTH AMERICA, BY COUNTRY, 2017–2020 (USD BILLION)
TABLE 85 MARKET IN SOUTH AMERICA, BY COUNTRY, 2021–2026 (USD BILLION)
TABLE 86 MARKET IN SOUTH AMERICA, BY CONNECTIVITY, 2017–2020 (USD BILLION)
TABLE 87 MARKET IN SOUTH AMERICA, BY CONNECTIVITY, 2021–2026 (USD BILLION)
TABLE 88 MICROGRID MARKET IN SOUTH AMERICA, BY OFFERING, 2017–2020 (USD BILLION)
TABLE 89 MARKET IN SOUTH AMERICA, BY OFFERING, 2021–2026 (USD BILLION)
TABLE 90 MICROGRID HARDWARE MARKET IN SOUTH AMERICA, BY TYPE, 2017–2020 (USD BILLION)
TABLE 91 MICROGRID HARDWARE MARKET IN SOUTH AMERICA, BY TYPE, 2021–2026(USD BILLION)
TABLE 92 MARKET IN SOUTH AMERICA, BY END USE, 2017–2020 (USD BILLION)
TABLE 93 MICROGRID MARKET IN SOUTH AMERICA, BY END USE, 2021–2026 (USD BILLION)
12.2.2.1 Brazil
12.2.2.1.1 Brazil to dominate microgrid market in South America from 2021 to 2026
12.2.2.2 Argentina
12.2.2.2.1 Focus on renewable energy sources and development of smart grids
12.2.2.3 Rest of South America
12.3 EUROPE
FIGURE 49 EUROPE: MICROGRID MARKET SNAPSHOT
TABLE 94 MICROGRID MARKET IN EUROPE, BY COUNTRY, 2017–2020 (USD BILLION)
TABLE 95 MARKET IN EUROPE, BY COUNTRY, 2021–2026 (USD BILLION)
TABLE 96 MARKET IN EUROPE, BY CONNECTIVITY, 2017–2020 (USD BILLION)
TABLE 97 MARKET IN EUROPE, BY CONNECTIVITY, 2021–2026 (USD BILLION)
TABLE 98 MICROGRID MARKET IN EUROPE, BY OFFERING, 2017–2020 (USD BILLION)
TABLE 99 MARKET IN EUROPE, BY OFFERING, 2021–2026 (USD BILLION)
TABLE 100 MICROGRID HARDWARE MARKET IN EUROPE, BY TYPE, 2017–2020 (USD BILLION)
TABLE 101 MICROGRID HARDWARE MARKET IN EUROPE, BY TYPE, 2021–2026 (USD BILLION)
TABLE 102 MARKET IN EUROPE, BY END USE, 2017–2020 (USD MILLION)
TABLE 103 MARKET IN EUROPE, BY END USE, 2021–2026 (USD MILLION)
TABLE 104 MICROGRID PROJECTS IN EUROPE FROM 2017 TO 2021
12.3.1 UK
12.3.1.1 Rising use of microgrids to reduce waste heat generated by traditional systems
TABLE 105 MICROGRID PROJECTS IN THE UK FROM 2017 TO 2021
12.3.2 GERMANY
12.3.2.1 Growing adoption of microgrids due to government initiatives
12.3.3 FRANCE
12.3.3.1 Increase in government investments to promote adoption of microgrids
12.3.4 ITALY
12.3.4.1 Rising installations of PV systems to boost demand for microgrids
12.3.5 REST OF EUROPE
TABLE 106 MICROGRID PROJECTS IN REST OF EUROPE FROM 2017 TO 2019
12.4 APAC
FIGURE 50 APAC: MICROGRID MARKET SNAPSHOT
TABLE 107 MICROGRID MARKET IN APAC, BY COUNTRY, 2017–2020 (USD BILLION)
TABLE 108 MARKET IN APAC, BY COUNTRY, 2021–2026 (USD BILLION)
TABLE 109 MARKET IN APAC, BY CONNECTIVITY, 2017–2020 (USD BILLION)
TABLE 110 MARKET IN APAC, BY CONNECTIVITY, 2021–2026 (USD BILLION)
TABLE 111 MARKET IN APAC, BY OFFERING, 2017–2020 (USD BILLION)
TABLE 112 MARKET IN APAC, BY OFFERING, 2021–2026 (USD BILLION)
TABLE 113 MICROGRID HARDWARE MARKET IN APAC, BY TYPE, 2017–2020 (USD BILLION)
TABLE 114 MICROGRID HARDWARE MARKET IN APAC, BY TYPE, 2021–2026 (USD BILLION)
TABLE 115 MARKET IN APAC, BY END USE, 2017–2020 (USD BILLION)
TABLE 116 MICROGRID MARKET IN APAC, BY END USE, 2021–2026 (USD BILLION)
12.4.1 AUSTRALIA
12.4.1.1 Australia to lead microgrid market in APAC from 2021 to 2026
TABLE 117 MICROGRID PROJECTS IN AUSTRALIA FROM 2017 TO 2020
12.4.2 CHINA
12.4.2.1 Increasing government initiatives to promote use of clean energy
TABLE 118 MICROGRID PROJECTS IN CHINA FROM 2017 TO 2018
12.4.3 JAPAN
12.4.3.1 Growing need for reliable power supply fueling growth of microgrid market
12.4.4 SOUTH KOREA
12.4.4.1 South Korea to record highest CAGR from 2021 to 2026
12.4.5 REST OF APAC
TABLE 119 MICROGRID PROJECTS IN REST OF APAC FROM 2017 TO 2021
12.5 ROW
TABLE 120 MICROGRID MARKET IN ROW, BY REGION, 2017–2020 (USD BILLION)
TABLE 121 MARKET IN ROW, BY REGION, 2021–2026 (USD BILLION)
TABLE 122 MARKET IN ROW, BY CONNECTIVITY, 2017–2020 (USD BILLION)
TABLE 123 MARKET IN ROW, BY CONNECTIVITY, 2021–2026 (USD BILLION)
TABLE 124 MARKET IN ROW, BY OFFERING, 2017–2020 (USD BILLION)
TABLE 125 MICROGRID MARKET IN ROW, BY OFFERING, 2021–2026 (USD BILLION)
TABLE 126 MICROGRID HARDWARE MARKET IN ROW, BY TYPE, 2017–2020 (USD BILLION)
TABLE 127 MICROGRID HARDWARE MARKET IN ROW, BY TYPE, 2021–2026 (USD BILLION)
TABLE 128 MARKET IN ROW, BY END USE, 2017–2020 (USD BILLION)
TABLE 129 MICROGRID MARKET IN ROW, BY END USE, 2021–2026 (USD BILLION)
12.5.1 MIDDLE EAST
12.5.1.1 Growth of healthcare sector and rising demand for reliable power supply contribute to growth of microgrid market
TABLE 130 MICROGRID PROJECTS IN THE MIDDLE EAST IN 2018
12.5.2 AFRICA
12.5.2.1 Africa to account for large share of RoW microgrid market from 2021 to 2026
TABLE 131 MICROGRID PROJECTS IN AFRICA FROM 2017 TO 2020
13 COMPETITIVE LANDSCAPE (Page No. - 158)
13.1 INTRODUCTION
TABLE 132 OVERVIEW OF STRATEGIES ADOPTED BY KEY MICROGRID PROVIDERS
FIGURE 51 PRODUCT LAUNCHES AND ACQUISITIONS STRATEGIES ADOPTED BY KEY PLAYERS FROM FEBRUARY 2017 TO MAY 2021
13.2 MARKET SHARE ANALYSIS, 2020
TABLE 133 MICROGRID MARKET: DEGREE OF COMPETITION
13.3 REVENUE ANALYSIS
FIGURE 52 REVENUE ANALYSIS: TOP 5 PLAYERS
13.4 COMPANY EVALUATION QUADRANT
13.4.1 STARS
13.4.2 PERVASIVE
13.4.3 EMERGING LEADERS
13.4.4 PARTICIPANTS
FIGURE 53 MICROGRID MARKET (GLOBAL) COMPETITIVE LEADERSHIP MAPPING, 2020
13.5 SME EVALUATION MATRIX FOR MICROGRID MARKET, 2020
13.5.1 PROGRESSIVE COMPANIES
13.5.2 RESPONSIVE COMPANIES
13.5.3 DYNAMIC COMPANIES
13.5.4 STARTING BLOCKS
FIGURE 54 MICROGRID MARKET (GLOBAL) COMPETITIVE LEADERSHIP MAPPING, SME ECOSYSTEM, 2020
13.6 COMPETITIVE BENCHMARKING
TABLE 134 COMPANY PRODUCT FOOTPRINT (25 COMPANIES)
TABLE 135 COMPANY OFFERINGS FOOTPRINT
TABLE 136 COMPANY END USE FOOTPRINT (25 COMPANIES)
TABLE 137 COMPANY REGION FOOTPRINT (25 COMPANIES)
13.7 COMPETITIVE SITUATION AND TRENDS
13.7.1 PRODUCT LAUNCHES AND DEVELOPMENTS
TABLE 138 MICROGRID MARKET: PRODUCT LAUNCHES, JANUARY 2017–MAY 2021
13.7.2 DEALS
TABLE 139 MICROGRID MARKET: DEALS, MARCH 2017–MAY 2021
14 COMPANY PROFILE (Page No. - 181)
(Business Overview, Products Offered, Recent Developments, and MnM View (Key strengths/Right to Win, Strategic Choices Made, and Weaknesses and Competitive Threats))*
14.1 KEY PLAYERS
14.1.1 ABB (HITACHI ABB POWER GRIDS)
TABLE 140 ABB: BUSINESS OVERVIEW
FIGURE 55 ABB: COMPANY SNAPSHOT
TABLE 141 ABB: PRODUCT/SOLUTIONS/SERVICES OFFERINGS
TABLE 142 ABB: PRODUCT LAUNCHES
TABLE 143 ABB: DEALS
14.1.2 GENERAL ELECTRIC (GE)
TABLE 144 GENERAL ELECTRIC: BUSINESS OVERVIEW
FIGURE 56 GENERAL ELECTRIC: COMPANY SNAPSHOT
TABLE 145 GENERAL ELECTRIC: PRODUCT/SOLUTIONS/SERVICES OFFERINGS
TABLE 146 GENERAL ELECTRIC: PRODUCT LAUNCHES
TABLE 147 GENERAL ELECTRIC: DEALS
14.1.3 SIEMENS
TABLE 148 SIEMENS: BUSINESS OVERVIEW
FIGURE 57 SIEMENS: COMPANY SNAPSHOT
TABLE 149 SIEMENS: PRODUCT/SOLUTIONS/SERVICES OFFERINGS
TABLE 150 SIEMENS: PRODUCT LAUNCHES
TABLE 151 SIEMENS: DEALS
14.1.4 EATON CORPORATION
TABLE 152 EATON CORPORATION: BUSINESS OVERVIEW
FIGURE 58 EATON CORPORATION: COMPANY SNAPSHOT
TABLE 153 EATON CORPORATION: PRODUCT/SOLUTIONS/SERVICES OFFERINGS
TABLE 154 EATON CORPORATION: PRODUCT LAUNCHES
TABLE 155 EATON CORPORATION: DEALS
TABLE 156 EATON CORPORATION: OTHERS
14.1.5 SCHNEIDER ELECTRIC
TABLE 157 SCHNEIDER ELECTRIC: BUSINESS OVERVIEW
FIGURE 59 SCHNEIDER ELECTRIC: COMPANY SNAPSHOT
TABLE 158 SCHNEIDER ELECTRIC: PRODUCT/SOLUTIONS/SERVICES OFFERINGS
TABLE 159 SCHNEIDER ELECTRIC: PRODUCT LAUNCHES
TABLE 160 SCHNEIDER ELECTRIC: DEALS
TABLE 161 SCHNEIDER ELECTRIC: OTHERS
14.1.6 HONEYWELL
TABLE 162 HONEYWELL: BUSINESS OVERVIEW
FIGURE 60 HONEYWELL: COMPANY SNAPSHOT
TABLE 163 HONEYWELL: PRODUCT/SOLUTIONS/SERVICES OFFERINGS
TABLE 164 HONEYWELL: PRODUCT LAUNCHES
TABLE 165 HONEYWELL: DEALS
14.1.7 HOMER ENERGY
TABLE 166 HOMER ENERGY: BUSINESS OVERVIEW
TABLE 167 HOMER ENERGY: PRODUCT/SOLUTIONS/SERVICES OFFERINGS
TABLE 168 HOMER ENERGY: PRODUCT LAUNCHES
TABLE 169 HOMER ENERGY: DEALS
14.1.8 S&C ELECTRIC
TABLE 170 S&C ELECTRIC: BUSINESS OVERVIEW
TABLE 171 S&C ELECTRIC: PRODUCT/SOLUTIONS/SERVICES OFFERINGS
TABLE 172 S&C ELECTRIC: PRODUCT LAUNCHES
TABLE 173 S&C ELECTRIC: DEALS
TABLE 174 S&C ELECTRIC: OTHERS
14.1.9 POWER ANALYTICS
TABLE 175 POWER ANALYTICS: BUSINESS OVERVIEW
TABLE 176 POWER ANALYTICS: PRODUCT/SOLUTIONS/SERVICES OFFERINGS
TABLE 177 POWER ANALYTICS: PRODUCT LAUNCHES
TABLE 178 POWER ANALYTICS: DEALS
14.1.10 EXELON CORPORATION
TABLE 179 EXELON CORPORATION: BUSINESS OVERVIEW
FIGURE 61 EXELON CORPORATION: COMPANY SNAPSHOT
TABLE 180 EXELON CORPORATION: PRODUCT/SOLUTIONS/SERVICES OFFERINGS
TABLE 181 EXELON CORPORATION: DEALS
14.2 OTHER PLAYERS
14.2.1 PARETO ENERGY
14.2.2 ANBARIC TRANSMISSION
14.2.3 TESLA
14.2.4 SPIRAE
14.2.5 GENERAL MICROGRIDS
14.2.6 GRAM POWER
14.2.7 POWERHIVE
14.2.8 ADVANCED MICROGRID SOLUTIONS (AMS)
14.2.9 GO ELECTRIC
14.2.10 DAJIE
14.2.11 CANOPY POWER
14.2.12 GREEN ENERGY CORP
14.2.13 POWERSECURE, INC, A SUBSIDIARY OF SOUTHERN COMPANY
14.2.14 VIRIDITY ENERGY BY ORMAT TECHNOLOGIE
14.2.15 FERROAMP
*Details on Business Overview, Products Offered, Recent Developments, and MnM View (Key strengths/Right to Win, Strategic Choices Made, and Weaknesses and Competitive Threats) might not be captured in case of unlisted companies.
15 APPENDIX (Page No. - 243)
15.1 INSIGHTS FROM INDUSTRY EXPERTS
15.2 DISCUSSION GUIDE
15.3 KNOWLEDGE STORE: MARKETSANDMARKETS’ SUBSCRIPTION PORTAL
15.4 AVAILABLE CUSTOMIZATIONS
15.5 RELATED REPORTS
15.6 AUTHOR DETAILS
The study involved four major activities for estimating the size of the microgrid market. Exhaustive secondary research has been carried out 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 the 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 that has been used to estimate and forecast the size of the microgrid market began with the acquisition of data related to the revenues of key vendor in the market through secondary research. The secondary research referred to for this research study involves 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 information useful for a technical, market-oriented, and commercial study of the microgrid market. Vendor offerings have been taken into consideration to determine the market segmentation. The entire research methodology included the study of annual reports, press releases, and investor presentations of companies; white papers; and certified publications and articles by recognized authors; directories; and databases.
Primary Research
Extensive primary research has been conducted after acquiring an understanding of the microgrid market scenario through secondary research. Several primary interviews have been conducted with market experts from both the demand and supply-side players across key regions, namely, North America, Europe, APAC, and Middle East and Africa (MEA), and South America. 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, along with the in-house subject matter experts’ opinions, has led us to the findings as described in the remainder of this report.
To know about the assumptions considered for the study, download the pdf brochure
Market Size Estimation
Both top-down and bottom-up approaches have been used to estimate and validate the size of microgrid market and its segments. The research methodology used to estimate the market size includes the following:
- Identifying various 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
To know about the assumptions considered for the study, Request for Free Sample Report
Data Triangulation
After arriving at the overall market size—using the market size estimation process explained above—the 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 each segment and subsegment of the market. The data has been triangulated by studying various factors and trends from both the demand and supply sides of the microgrid market.
Report Objectives
- To describe and forecast the microgrid market, in terms of value, based on connectivity, offering, type, patterns, end use, and region
- To describe and forecast the microgrid market, in terms of value, for various segments with respect to 4 key regions, namely, North America, South America, Europe, Asia Pacific (APAC), and the Rest of the World (RoW)
- To strategically analyze micromarkets with respect to individual growth trends, prospects, and contribution to the overall market
- To provide a detailed overview of the microgrid value chain
- To strategically profile the key players and comprehensively analyze their market ranking in terms of revenue and core competencies
- To provide detailed information regarding drivers, restraints, opportunities, and challenges pertaining to the microgrid market
- To map competitive intelligence based on company profiles, strategies of key players, and game-changing developments such as product launches, partnerships, collaborations, and agreements undertaken in the microgrid market
Available Customizations:
Along with the market data, MarketsandMarkets offers customizations according to the specific requirements of companies. The following customization options are available for the report:
Company Information
- Detailed analysis and profiling of additional market players (up to 5)
- Additional country-level analysis of microgrid market
- Estimation of the market size of the segments of the microgrid market based on different subsegments
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Benchmarking the rapid strategy shifts of the Top 100 companies in the Microgrid Market
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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?