Microgrid Market

Microgrid Companies - Schneider Electric (France) and Siemens (Germany) are the Key Players

The global microgrid market size is estimated to be USD 31.5 billion in 2023 and is projected to reach USD 79.0 billion by 2028, at a CAGR of 20.1% during the forecast period. The key factors fuelling the growth of this market is the increasing need for uninterrupted power supply, the requirement for decarbonization by governments, growing demand for electrification in rural areas.

Major players operating in the microgrid market achieved their positions by launching new and innovative products. Various major players dominating the microgrid market include Schneider Electric (France), Siemens (Germany), Eaton (Ireland), General Electric (US), ABB (Switzerland), Hitachi Energy Ltd. (Switzerland), Honeywell International Inc. (US), Homer Energy (US), S&C Electric Company (US), Power Analytics (US). Various companies are implementing diverse approaches to thrive in the microgrid industry. These firms emphasize the utilization of both natural and inorganic expansion tactics, including the introduction and enhancement of products, forging partnerships and contracts, expanding their operations, and acquiring other entities. These strategies aim to bolster their market standing.

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Schneider Electric (France): Schneider Electric, one of the leaders in energy management systems offers high-quality microgrid products and solutions. It has a multi-local business model with a wide  global presence. It has a diverse as well as proper revenue generation from each region. It has a strong financial background and invests considerable amounts in R&D activities. The company provides microgrid solutions for buildings, large sites, and districts. Schneider Electric earns the majority of its revenue through its Energy Management Segment. Schneider Electric's EcoStruxure architecture provides a robust and scalable platform for integrating and managing microgrid systems. It offers advanced monitoring, control, and optimization capabilities, enhancing the efficiency and performance of microgrids. Schneider Electric has enhanced its microgrid product portfolio by developing EcoStruxure, an all-in-one software solution that covers the full range of customer needs, including network balancing features and protection adaptation for stable and optimized microgrids, and flexible control of onsite distributed energy resources. The company focuses on increasing its sales by investing in profitable, high-growth markets to build new business models. Schneider Electric also leverages its strong brand name and supply chain to enhance its presence in the microgrid market. The company focuses on acquisitions, partnerships, and agreements with different companies to increase its presence in the microgrid market.

Siemens (Germany): Siemens has major focus on automation and digitalization manufacturing industries, intelligent infrastructure for buildings and distributed energy systems, smart mobility solutions and healthcare services. Through its Smart Infrastructure segment, the company offers microgrid products and solutions to campuses, airports, and data centers; utilities and power distribution network operators; and companies in heavy industries such as oil & gas, mining, and chemicals. Siemens Smart Infrastructure’s R&D activities focus on addressing energy markets' decentralization, decarbonization, and digitalization trends. The company develops technologies for environment-friendly and increasingly renewable energy systems, ranging from photovoltaic inverter technology to battery storage and charging solutions for e-mobility. Also, Significant revenue growth enhances the company's investor appeal and strengthens its capacity to allocate sufficient funds for expansion.  The company has a wide global presence and has diversified its presence as well as portfolio with organic and inorganic growth strategies, including product launches, acquisitions, contracts, collaborations, partnerships.

General Electric (US): GE Reservoir, Grid Analytic, and Advanced Distribution Management Solution (ADMS) solutions are a few major offerings by General Electric in the field of microgrid applications. It also has a strong global presence. It is also known to have developed innovative products for microgrids. The company is also doing feasibility studies for microgrid projects. For instance, in collaboration with their subcontractor and partner, Nexant (US), GE Energy Consulting initiated a microgrid feasibility and evaluation study for the Town of Bedford, Massachusetts. Its primary objective is to assess the economic and financial implications of implementing a microgrid project in the town. GE focuses on product launches and inorganic growth strategies such as agreements and contracts to maintain its position in the microgrid market. General Electric (GE) has undertaken many majors for creating cleaner grid systems globally. GE could emphasize organic growth strategies, such as product launches and product developments, and expansions to strengthen its market position and target emerging and rapidly growing markets such as India, China, and South Korea in Asia Pacific. The company has a fair amount of partnerships and collaborations in the past three years, making it easier for the company to diversify its projects and portfolios.

Eaton (Ireland):  Eaton's electrical division is a prominent player on a global scale, possessing extensive regional knowledge in power distribution and circuit protection, power quality, backup power and energy storage, control and automation, life safety and security, structural solutions, and solutions for harsh and hazardous environments. The company offers comprehensive services, an integrated digital platform, and valuable insights. With a broad geographic presence and a focus on the microgrid market, Eaton excels in developing innovative products and solutions, leveraging its technical prowess in power distribution and energy management. Moreover, the company boasts a robust financial foundation and allocates significant investments toward research and development endeavors. The company has a strong presence in North America and South America. The company is strongly working towards microgrid projects. Eaton chiefly focuses on acquisitions and agreements to expand its operations in the microgrid market. Increasing demand for microgrid solutions in China, India, and South Korea, among other countries, is expected to create ample opportunities for the company to expand its business in non-US markets. The company has been taking up projects as well as it keeps on expanding and extending its partnerships and collaborations in order to work on microgrid projects.

ABB (Switzerland): ABB, one of the leaders in electrification business, has a worldwide presence, and also focuses on development of innovative products for microgrid market. It has invested a fair amount of its revenue towards R&D activities. The company offers products, services, and solutions such as Microgrid Power Management Solutions, Microgrid Power Management Controller, and Microgrid Smart Power Solutions. The company has a fair revenue generation share from each region, making it less dependable on any particular region for revenue generation. Even though there was a dip in revenue generation in 2020, the company has shown significant revenue growth since then. ABB is uniquely positioned as one of the pioneer companies in microgrid and energy distribution systems, offering a broad portfolio of products, the innovations of which have been supported from time to time by a long list of active intellectual property (IP) patents and applications related to the energy industry. ABB focuses on new projects, partnerships, and collaborations to maintain its global market presence. In line with its strong financial performance and R&D investments, ABB could focus on developing innovative products for microgrids, just like its competitors. The company has made strategic partnerships in the past three years.

Related Reports:

Microgrid Market by Connectivity (Grid Connected, Off-grid), Offering (Hardware (Controllers, Energy Storage), Software, Services), End User, Type, Power Source, Power Rating (Below 1 MW, 1-5 MW, 5-10 MW) and Region - Global Forecast to 2028

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Microgrid Market Size,  Share & Growth Report
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