MRFR has a newly added “Global Microgrid Market Research Report” that gives meticulous investigation of current scenario of the market size, share, demand, growth, trends, and forecast in the coming years.
Microgrid Market
Overview
The global Microgrid market is estimated to expand at 12.10% CAGR during
the forecast period.
A microgrid is a small-scale power supply network designed to provide
power for a relatively small group of end-users. It consists of interconnected
loads and distributed energy resources within clearly defined electrical
boundaries that act as a single controllable entity with respect to the main
grid. Moreover, microgrids can function when connected to the main grid as well
as when they are not connected to the main grid and act as an electrical
island.
Increasing demand for reliable and secured
power supply, government initiatives to reduce carbon footprint, widespread
industrialization and population growth fueling demand for energy storage
systems, convergence of IoT in enhancing microgrid connectivity, and benefits
of clean and reasonable energy, drive the market. Utilities, across the globe
consider microgrids a building block for a smart grid and focus on microgrid
R&D as a key focus area.
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Industry Segmentation
The microgrid market has been segmented based
on type into grid connected and off-grid. Among these types, off-grid is both,
the fastest growing and the largest segment in the microgrid market due to the
increased use of renewable energy resources. Also, increasing small-scale
energy resources as solar arrays and batteries, utilities are planning for
dramatic transformation in a way to produce more energy while increasing the
reliability and efficiency.
Regional Outlook
Region wise,
North America held the largest market share of the global microgrid market in
2017. It is estimated that North America would be the largest market during the
forecast period. The global planned and completed microgrid capacity stands at
capacity of 3.8 GW, of which more than 2.5 GW of microgrid capacity is in North
America.
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Report @ https://www.marketresearchfuture.com/reports/microgrid-market-2215
Leading Players
The key players of global Microgrid
market are ABB (Switzerland), GE (US), Eaton (Ireland), Schneider Electric
(France), Honeywell (US), Exelon Corporation (US), S&C Electric (US), Power
Analytics Corporation (US), Siemens (Germany), and Microgrid Energy LLC (US),
among others.
Scope of the Report
This research report provides insights into
various levels of analysis, such as industry analysis and market share analysis
for the leading industry competitors, along with their profiles. It also helps
study the target segments by providing views on the emerging & high-growth
segments. The market data comprises the basic assessment of the competitive
scenarios and strategies in the global Microgrid market, including high-growth
regions and/or countries, and political and economic environments. The project
report further provides both – historical market values and pricing & cost
analysis
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