HOME Research Insight ABB Ltd. (Switzerland) and General Electric (U.S.) top 2 players in the Microgrid Market

ABB Ltd. (Switzerland) and General Electric (U.S.) top 2 players in the Microgrid Market

The microgrid market is driven by several factors such as advantages of cheap and clean energy storage, reduced carbon footprint, enhancement in microgrid connectivity through integration of IoT, and growing demand for automated grid system. The microgrid market was valued at USD 16.58 Billion in 2015 and is expected to reach USD 38.99 Billion by 2022, at a CAGR of 12.45% during the forecast period.

The APAC region has a rising demand for microgrids. Microgrids are a cost-effective solution, which helps meet the rising demand for power, without increasing carbon emissions. China, Japan, India, and Australia have been considered in this region. Moreover, in India, major programs have been launched, such as Deen Dayal Upadhyaya Gram Jyoti Yojna in 2015, which plans to connect 250 million people with no access to the grid and others who face power shortages. According to this, the government has set a target of delivering power to 18,452 villages by 2018, and in that 14,204 can be served by grid extensions and the remaining need off-grid power.

The major opportunity for this market is the increasing demand for microgrids in healthcare and military sectors. Some of the major players operating in the microgrid market include ABB Ltd. (Switzerland), General Electric (U.S.), Eaton Corporation PLC (Ireland), Siemens AG (Germany), Exelon Corporation (U.S.), Schneider Electric (France), Caterpillar Inc. (U.S.), Power Analytics Corporation (U.S.), HOMER Energy LLC (U.S.), and S&C Electric Company (U.S.).

Top 2 players in the microgrid market:

ABB Ltd. focuses on new projects, partnerships, and expansions to maintain market presence globally. The company has a huge customer base with long-term contracts. One of the reasons for the company’s strength and stability is its product portfolio, which spans a range of products and services for different stages in an economic cycle. Its performance is also attributed to its ability to reduce costs while driving new growth. The company’s presence in emerging markets, its productivity improvement, and streamlined procedures have helped ABB to benchmark its business operations against set industry standards. ABB also invests heavily in R&D for designing innovative products to match the market needs and explore new opportunities to drive growth and profitability. It also focuses on product developments, for instance, in October 2016, ABB introduced a new modular and scalable “plug-and-play” microgrid solution to address the globally growing demand for flexible technology in the developing market for distributed power generation.

General Electric focuses on partnerships and collaborations to sustain in the global microgrid market. In September 2016, GE and National Instruments collaborated to work on USAID microgrid and solar projects in Africa and India as part of a larger USD 10-million research initiative. In November 2015, Alstom (France) was acquired by GE, post which GE announced the launch of GE Grid Solutions, which is the combination of assets and resources of Alstom Grid and GE Digital Energy. The grid automation solution business is worth USD 900 million.

The stakeholders involved in the value chain of this market include raw material and equipment suppliers, microgrid system integrators and developers, transmission system operators, energy storage vendors, smart grid software vendors, solar PV companies, government agencies, utilities, and investor community.

Related Reports:

Microgrid Market by Offering (Hardware- Power Generation & Energy Storage System, Software, and Service), Connectivity (Grid Connected and Remote/ Island), Grid Type (AC, DC, and Hybrid Microgrid), Vertical & Geography - Global Forecast to 2022

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