The global Microgrid Market will be worth USD 61.18 Billion by 2027, according to a current analysis by Emergen Research. The growth of this market can be attributed to the growing demand for clean sources of energy. Increasing government initiatives to reduce carbon footprints on the environment and lower the dependency on fossil-fuel-based power generation to produce electricity is expected to increase the demand for the technology. Increasing government policies and initiatives and a shift towards renewable distributed energy generation such as fuel cells, wind turbines, and Solar PV are also expected to drive the microgrid market's demand.
The report provides detailed insights into Microgrid market revenue trends, industry trends, consumer trends, market size, market share, market revenue growth drivers, and forecast, along with ranging impact of each factor and driver. It also provides analysis of various factors expected to restrain or limit potential growth in Microgrid market size over the forecast period, 2020–2028. The report includes profiles of major Microgrid players in the market, strategies being employed, mergers, acquisitions, recent developments, agreements, contracts, new product development and launches, segment revenue, investment details as well as financials. Also included are details regarding top Microgrid market players, manufacturers, and vendors and the various strategies being deployed in the market and objectives for these strategies.
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Global Microgrid market revenue growth is primarily driven by rising focus by major companies on product portfolio expansion, entry into new and untapped domestic and international markets, rising investments my top Microgrid market players, manufacturers, and vendors in strategic agreements and contracts, and rapidly increasing competition in the Microgrid market.
The commercial and the industrial sector are increasingly adopting microgrid technology in order to reduce the emission levels and avail a reliable and uninterrupted supply of electricity in remote areas. The declining cost of renewable energy sources is also a contributing factor to the increasing demand of the microgrid facility. The microgrid is also used in the defense services and research labs to have a secure network from independent external power stations and reduce the risks of cyber-attacks.
In addition, rapidly rising demand and deployment in respective sectors/industries in major and developing countries is supporting growth in terms of Microgrid market share contribution of these countries. In addition, Microgrid market share contribution is expected to continue to incline steadily over the forecast period due to favorable government policies, advancements in technology, and steady economic growth across various regions and countries.
Top key vendors in Microgrid Market include are:
- Key participants include Siemens, Honeywell, General Electric (GE), ABB, Schneider Electric, Eaton, Exelon Corporation, Spirae, Inc., S C Electric Company, and Homer Energy, among others.
Emergen Research has segmented the global Microgrid Market on the basis of Power, Product, Application, and region:
- Power Outlook (Revenue, USD Billion; 2017-2027)
- Combined heat power (CHP)
- Solar Photovoltaic (PV)
- Natural Gas
- Fuel Cell
- Product Outlook (Revenue, USD Billion; 2017-2027)
- Application Outlook (Revenue, USD Billion; 2017-2027)
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In terms of Microgrid market share and revenue contribution to the global Microgrid market, North America is expected to maintain its dominance over other regional markets over the forecast period. Presence of major companies in countries in the region is a key factor supporting rapid increase in Microgrid market share.
The market intelligence report on the Microgrid Industry also includes an extensive investigation of the competitive landscape. It assesses the business and marketing strategies expected to be present in the market through the forecast years. It also includes an investigation of the recent advancements and other factors driving the growth of the overall market to help comprehend the progress of the companies in the coming years.
Region wise performance of the Microgrid industry
North America Microgrid market revenue growth was relatively higher than that of other regional markets in 2020. North America Microgrid market revenue is expected to continue to remain dominant over the forecast period, supported by robust presence of top market players, manufacturers, and vendors, and favorable government policies and norms in countries in the region.
Asia Pacific Microgrid market revenue registered fastest growth rate in 2020, and this trend is expected to continue over the forecast period. Asia Pacific Microgrid market revenue growth is driven by significant market revenue contribution from China, India, and South Korea. China is a robust hub for top Microgrid market players, manufacturers, and vendors, as well as easy access to raw materials and workforce at more economical costs that that of other regional markets.
Europe Microgrid market revenue is expected to continue to remain steady over the forecast period, attributed to changing trends in various market and robust focus on research and development initiatives by top market players, manufacturers, and vendors to expand global footprint and drive revenues and profits.
Geographically, this report studies the key regions, focuses on product sales, value, market share and growth opportunity in these regions, covering:
- United States
- Southeast Asia
We can also provide the customized separate regional or country-level reports, for the following regions:
North America, United States, Canada, Mexico, Asia-Pacific, China, India, Japan, South Korea, Australia, Indonesia, Singapore, Rest of Asia-Pacific, Europe, Germany, France, UK, Italy, Spain, Russia, Rest of Europe, Central South America, Brazil, Argentina, Rest of South America, Middle East Africa, Saudi Arabia, Turkey, Rest of Middle East Africa
We can customize our reports for our customers, for instance, we can add or remove manufacturers, applications or product types, whatever you need in the report. Ask for it by contacting us@ https://www.emergenresearch.com/request-for-customization/229
The research provides answers to the following key questions:
- What will be the growth rate and the market size of the Microgrid industry for the forecast period 2020-2027?
- What are the major driving forces expected to impact the development of the Microgrid market across different regions?
- Who are the major driving forces expected to decide the fate of the Microgrid industry worldwide?
- Who are the prominent market players making a mark in the Microgrid market with their winning strategies?
- Which Microgrid industry trends are likely to shape the future of the industry during the forecast period 2020-2027?
- What are the key barriers and threats believed to hinder the development of the industry?
- What are the future opportunities in the Microgrid market?
Table of Content
Chapter 1. Methodology Sources
1.1. Microgrid Market Definition
1.2. Research Scope
1.4. Research Sources
1.4.3. Paid Sources
1.5. Microgrid Market Estimation Technique
Chapter 2. Executive Summary
2.1. Summary Snapshot, 2021-2028
Chapter 3. Key Insights
Chapter 4. Microgrid Market Segmentation Impact Analysis
4.1. Microgrid Market Material Segmentation Analysis
4.2. Industrial Outlook
4.2.1. Microgrid Market indicators analysis
4.2.2. Microgrid Market drivers analysis
220.127.116.11. Rapid urbanization and industrialization
18.104.22.168. Stringent government regulations regarding carbon emissions
22.214.171.124. Increasing prevalence of respiratory diseases
126.96.36.199. Rising need to enhance indoor air quality
4.2.3. Microgrid Market restraints analysis
188.8.131.52. High cost associated with the maintenance of Microgrid products
184.108.40.206. Availability of renewable sources of energy
4.3. Technological Insights
4.4. Regulatory Framework
4.5. Porter’s Five Forces Analysis
4.6. Competitive Metric Space Analysis
4.7. Price trend Analysis
4.8. Covid-19 Impact Analysis
Chapter 10. Competitive Landscape
10.1. Microgrid Market Revenue Share By Manufacturers
10.2. Mergers Acquisitions
10.3. Competitor’s Positioning
10.4. Strategy Benchmarking
10.5. Vendor Landscape
10.5.1. Raw Material Suppliers
10.5.1.1. North America
10.5.1.3. Asia Pacific
10.5.1.4. Middle East Africa
10.5.1.5. Latin America
10.5.2.1. North America
10.5.2.3. Asia Pacific
10.5.2.4. Middle East Africa
10.5.2.5. Latin America
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