Global microgrid market is expected to register a healthy CAGR in the forecast period 2018 to 2025. The new market report contains data for historic years 2016, the base year of calculation is 2017 and the forecast period is 2018 to 2025.
Prominent factors driving the growth of this market consist of increased demand of automated grid systems, reduction in carbon footprint, advancement in microgrid connectivity by integration of IoT, and benefits of low cost and clean energy storage
The key market players for global microgrid market are listed below;
ABB
General Electric Company
Siemens AG
Honeywell International Inc.
Eaton Corporation PLC
Advanced Microgrid Solutions
Caterpillar Inc.
Chevron Corporation
Cummins Inc.
Exelon Corporation
Green Energy Corp.
Homer Energy LLC
Microgrid Energy
Pareto Energy
Power Analytics Corporation
S&C Electric Company
Schneider Electric
Tesla Inc.
Toshiba Corporation
The market is further segmented into;
Grid Type
Connectivity
Offering
Vertical
Power Source
The global microgrid market is segmented based on grid type into three notable segments; AC microgrid, DC microgrid, and hybrid. In 2018, DC microgrid segment is valued to rule with the highest market share 2025.
The global microgrid market is segmented based on connectivity into two notable segments grid connected and remote/island. In 2018, grid connected segment is valued to rule with the highest market shares by 2025, rising at the highest CAGR.
The global microgrid market is segmented based on offering into hardware, software, and services. The hardware segment is further sub-segmented into switchgears, power inverters, smart meters, reciprocating engines, and energy storage systems and power generators. The energy storage systems and power generators segment is further sub-segmented into power generators and energy storage systems. The power generator includes fuel cells and diesel gensets, chp and micro-chp, micro turbines, and renewables (PV cells, wind based, and others). The energy storage systems include lithium-ion batteries, lead-acid batteries, flywheels, flow batteries, and others. The services segment is further sub-segmented into engineering and design, monitoring and control, and operations & maintenance. In 2018, hardware segment is valued to rule with highest market shares and retail & grocery stores is rising at the highest CAGR.
The global microgrid market is segmented based on vertical into five notable segments healthcare, educational institutions, industrial, military, and electric utility. The industrial segment is further sub segmented as steel, mining, and others. The utility segment is further sub-segmented into urban electrification and rural electrification. In 2018, healthcare segment is valued to rule with highest market shares in 2025.
The global microgrid market is segmented based on power into natural gas, combined heat and power, diesel, solar, fuel cells, others. In 2018, diesel segment is valued to rule with highest market shares .
Based on geography, the market is segmented into 5 geographical regions;
North America
Europe
Asia-Pacific
South America
Middle East and Africa
Covered in this report
The report covers the present scenario and the growth prospects of the global microgrid market for 2018-2025. To calculate the market size, the report considers the revenue generated from the sales of the web conferencing and unified communication and collaboration (UC&C) and video conferencing, secondary resources and doing in-depth company share analysis of major 10 players in the market.
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