Microgrid Market

Market Leadership - Microgrid Market

The global microgrid market size is estimated to be USD 26.9 billion in 2022 and is projected to reach USD 63.2 billion by 2027, at a CAGR of 18.6% during the forecast period. Major players operating in the microgrid market achieved their positions by launching new and innovative products. Various companies are deploying different strategies to excel in the microgrid market. They are trying to broaden their revenue stream by adopting inorganic business strategies such as acquisitions, collaborations, contracts, and agreements, which have helped companies enhance their products and expand their geographic reach.

Schneider Electric manufactures industrial engineering equipment, power distribution systems, and automation systems. It also provides hardware, software, and services related to energy management and automation systems. The company operates through two segments—Energy Management and Industrial Automation. Energy Management leverages a complete end-to-end technology offering, enabled by EcoStruxure IT, and gathers three operating segments: low voltage, medium voltage, and secure power. Schneider Electric’s EcoStruxure IT is a cloud-based data center infrastructure management (DCIM) software platform that provides insight into the status of the client’s data center, network closets, and branch IT infrastructure. Buildings, data centers, industries, and infrastructure are the four markets targeted by Schneider Electric’s go-to-market strategy, which is supported by its global partner network. Industrial Automation includes the Industrial Internet of Things (IIoT) and industrial control system (ICS) activities across discrete, process, and hybrid industries. Schneider Electric is considered one of the pioneers in energy management systems and offers high brand value through premium and high-quality microgrid products and solutions. Schneider Electric’s main strength lies in its multi-local business model. The company has a strong geographic presence in Asia Pacific followed by North America and Western Europe. It has a strong financial background and invests large amounts in R&D activities. The company focuses on providing microgrid solutions for buildings, large sites, and districts. Schneider Electric earns the majority of its revenue through its Energy Management Segment, which accounted for 77% of the total revenue in 2021.

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Siemens is one of the major companies in the electrical and electronics engineering segment. Siemens has focused on the adoption of organic and inorganic strategies to cement its position as the market leader in the microgrid market. This includes various product launches and developments and acquisitions, which have been supported by several contracts, collaborations, and partnerships with businesses from across the world. For instance, in May 2022, an open, modular software suite Siemens’ Grid Software Suite was developed by the company to manage the complexity of the grid systems. With the new suite, users will be able to run grid protection simulations up to six times faster than their current speed and improve grid management efficiency by up to 85%. In April 2022, Siemens entered a contract with EWE NETZ GmbH (Germany), to supply its latest environmental-friendly switchgear technology. In December 2021, Siemens and Atos collaborated on a large project for smart grid management for the National Office of Electricity and Drinking Water (ONEE) in Morocco. The company could consider focusing on inorganic growth strategies such as expansion in different regions to establish its presence in the US, Germany, and China. Siemens has strong financial earnings. As such, it can consider making investments in R&D activities related to energy management solutions to have the first-mover advantage in the microgrid ecosystem.

General Electric 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’s business segments are Power, Aviation, Healthcare, Renewable Energy, and Capital. GE provides microgrid solutions through its Renewable Energy division. Its equipment, systems, and services allow power utilities and industries worldwide to supply power safely, reliably, and efficiently to end consumers. With Grid Solutions, GE addresses the challenges of the energy transition by connecting renewable and distributed energy resources to the grid safely and reliably. GE electrifies the world with advanced grid technologies and accelerates the energy transition. These solutions help in improving grid resiliency and ensuring energy availability to critical infrastructures and remote communities. GE offers a broad range of microgrid products and solutions, including GE Reservoir, Grid Analytic, and Advanced Distribution Management Solutions (ADMS) for microgrid applications. The company has a strong presence across regions and is known for innovative products pertaining to microgrids. GE also has a strong sales and distribution network. The company is working toward boosting demand creation through an enhanced focus on regional coverage, with strong technical expertise, supported in the mass market by an extensive distribution channel and local initiatives. It also plans to establish regional sales and marketing teams that are fully aligned with the company’s strategic end markets.

Eaton Corporation, a multinational power management company, 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 six segments—Electrical Americas, Electrical Global, Hydraulics, Aerospace, Vehicle, and eMobility. Eaton Corporation provides microgrid products, solutions, and services under its Electrical (Americas + Global) segment. Eaton Corporation’s electrical business is a global leader with deep regional application expertise in power distribution and circuit protection; power quality, backup power and energy storage; control and automation; life safety and security; structural solutions; and harsh and hazardous environment solutions. The company is focusing on delivering end-to-end services, and an integrated digital platform and insights. Eaton has a wide geographic presence with offices across the world and focuses on developing innovative products and solutions in the microgrid market due to its technical expertise in power distribution and energy management. The company has a strong financial background and invests large amounts in R&D activities.

ABB is considered one of the pioneers in terms of electrification and offers high brand value through its premium and high-quality microgrid products and solutions. It has a wide geographic presence with offices across the world and focuses on developing innovative products and solutions in the microgrid market. The company operates through four business segments: Electrification, Industrial Automation, Motion, and Robotics & Discrete Automation. ABB offers microgrid solutions through its Electrification business division. The company 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. ABB also offers consulting and other services for developing microgrids. With Smart Power solutions, ABB is leading energy innovation and new ways of utilizing energy, from commercial and industrial sites seeking to unlock new economic opportunities, all the way up to utilities and service providers seeking to manage their increased portfolio of renewables and distributed energy resources, as well as marine vessels and communities seeking sustainable energy solutions.

Related Reports:

Microgrid Market by Connectivity (Grid-connected, Off-grid), Offering (Power Generators, Controllers, Energy Storage, Software, Services), End User (Commercial & Industrial, Military, Utilities), Type, Power Rating & Geography - Global Forecast to 2027

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Microgrid Market Size,  Share & Growth Report
Report Code
SE 2881
RI Published ON
7/4/2022
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