Market Overview:
The global microgrid solutions market is expected to grow from USD 9.02 billion in 2018 to USD 28.06 billion by 2030, at a CAGR of 16.5% from 2018 to 2030. The growth of the global microgrid solutions market can be attributed to the increasing demand for reliable and secure power supply, growing concerns over climate change and its impact on the environment, and government initiatives toward the development of smart grids. Based on type, the grid connected segment is expected to lead the global microgrid solutions market during the forecast period.
Product Definition:
Microgrid Solutions are important because they can provide power to a specific area in the event of an outage or emergency. They can also help to reduce energy costs and greenhouse gas emissions.
Grid Connected:
The global grid connected is the total number of electric customers who have access to the electricity supply network. It includes residential, commercial, and industrial consumers. The term grid connected does not necessarily mean that all these customers live in a close vicinity to an electrical substation or even in a same country.
Off-grid:
The off-grid is a power system which is not connected to the grid. It can be used in microgrids or stand alone systems. The main function of an off-grid power system is to provide electricity for domestic applications and charging electric vehicles. Off-grid systems are gaining popularity due to its cost effectiveness, reliability, and ability to generate electricity even in absence of grid connection.
Microgrids Solutions include both on-grid.
Application Insights:
The utility distribution segment accounted for the largest revenue share of over 40% in 2017. The growth can be attributed to the growing demand for power infrastructure in emerging economies, such as China and India. In addition, this segment is expected to witness significant growth owing to increasing industrialization and urbanization across developing countries including Brazil, South Africa, Indonesia, Malaysia and others.
Microgrid solutions are widely used by commercial organizations that require reliable power supply for their operations or need backup power systems during blackouts or voltage fluctuations. Growing number of cyberattacks on electrical grids across the globe has increased the demand for microgrid solutions at corporate offices and government institutions among other critical applications requiring robust electric systems.
Utility distribution microgrids are primarily designed with small size (less than 10 KW) capability since they are intended for off-grid areas where there is no existing electricity grid connection nearby but they can also provide larger capacities if needed (over 10 MVA).
Regional Analysis:
Asia Pacific regional market is anticipated to witness significant growth over the forecast period owing to increasing penetration of renewable energy generation technologies such as solar and wind. The growing number of manufacturing facilities in Asia Pacific, especially in China and India, is expected to drive the demand for microgrid solutions over the forecast period.
North America accounted for a major share in 2016 owing to early adoption of microgrid technology by several states such as California, New Jersey, Hawaii and others. Moreover, presence of key players engaged in providing microgrid solutions will also propel regional growth during the same period from 2017 to 2030.
Europe has been one of the most impacted regions due its geographical location (between East Europe & West Europe). Natural disasters have become a common occurrence with an average rainfall exceeding 1000 mm annually across Mediterranean countries including Italy (1128 mm), Spain (1077 mm) & Greece (1220 mm).
Growth Factors:
- Increasing demand for reliable and uninterrupted power supply: With the increasing penetration of microgrids, there is an increased demand for reliable and uninterrupted power supply. This is because microgrids can provide a more consistent and reliable power supply as compared to the traditional grid system.
- Favorable government policies and regulations: Governments around the world are promoting the adoption of microgrid solutions through favorable policies and regulations. For instance, in 2016, California passed a bill that requires all new residential construction to include a solar photovoltaic system that can operate as part of a microgrid. This will help in accelerating the growth of the microgrid market in California.
- Rising awareness about benefits of microgrids: There is rising awareness among consumers about the benefits of usingmicrogrids such as improved reliability, security, resiliency,and sustainability .This is helping to drivethe growthof themicrogrid market .
Scope Of The Report
Report Attributes
Report Details
Report Title
Microgrid Solutions Market Research Report
By Type
Grid Connected, Off-grid
By Application
Remote, Commercial and Industrial, Utility Distribution, Institutional and Military, Community and Other
By Companies
ABB, BoxPower Inc, Eaton, GE Grid Solutions, Gham Power, Gridscape, SMA Solar Technology, Sagemcom, Scale Microgrid Solutions, SimpliPhi Power, Schweitzer Engineering Laboratories, Schneider Electric, Siemens, WRH Group, PowerSecure
Regions Covered
North America, Europe, APAC, Latin America, MEA
Base Year
2021
Historical Year
2019 to 2020 (Data from 2010 can be provided as per availability)
Forecast Year
2030
Number of Pages
123
Number of Tables & Figures
87
Customization Available
Yes, the report can be customized as per your need.
Global Microgrid Solutions Market Report Segments:
The global Microgrid Solutions market is segmented on the basis of:
Types
Grid Connected, Off-grid
The product segment provides information about the market share of each product and the respective CAGR during the forecast period. It lays out information about the product pricing parameters, trends, and profits that provides in-depth insights of the market. Furthermore, it discusses latest product developments & innovation in the market.
Applications
Remote, Commercial and Industrial, Utility Distribution, Institutional and Military, Community and Other
The application segment fragments various applications of the product and provides information on the market share and growth rate of each application segment. It discusses the potential future applications of the products and driving and restraining factors of each application segment.
Some of the companies that are profiled in this report are:
- ABB
- BoxPower Inc
- Eaton
- GE Grid Solutions
- Gham Power
- Gridscape
- SMA Solar Technology
- Sagemcom
- Scale Microgrid Solutions
- SimpliPhi Power
- Schweitzer Engineering Laboratories
- Schneider Electric
- Siemens
- WRH Group
- PowerSecure
Highlights of The Microgrid Solutions Market Report:
- The market structure and projections for the coming years.
- Drivers, restraints, opportunities, and current trends of market.
- Historical data and forecast.
- Estimations for the forecast period 2030.
- Developments and trends in the market.
- By Type:
- Grid Connected
- Off-grid
- By Application:
- Remote
- Commercial and Industrial
- Utility Distribution
- Institutional and Military
- Community and Other
- Market scenario by region, sub-region, and country.
- Market share of the market players, company profiles, product specifications, SWOT analysis, and competitive landscape.
- Analysis regarding upstream raw materials, downstream demand, and current market dynamics.
- Government Policies, Macro & Micro economic factors are also included in the report.
We have studied the Microgrid Solutions Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2030.
Regional Analysis
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- Latin America
Note: A country of choice can be added in the report at no extra cost. If more than one country needs to be added, the research quote will vary accordingly.
The geographical analysis part of the report provides information about the product sales in terms of volume and revenue in regions. It lays out potential opportunities for the new entrants, emerging players, and major players in the region. The regional analysis is done after considering the socio-economic factors and government regulations of the countries in the regions.
How you may use our products:
- Correctly Positioning New Products
- Market Entry Strategies
- Business Expansion Strategies
- Consumer Insights
- Understanding Competition Scenario
- Product & Brand Management
- Channel & Customer Management
- Identifying Appropriate Advertising Appeals
8 Reasons to Buy This Report
- Includes a Chapter on the Impact of COVID-19 Pandemic On the Market
- Report Prepared After Conducting Interviews with Industry Experts & Top Designates of the Companies in the Market
- Implemented Robust Methodology to Prepare the Report
- Includes Graphs, Statistics, Flowcharts, and Infographics to Save Time
- Industry Growth Insights Provides 24/5 Assistance Regarding the Doubts in the Report
- Provides Information About the Top-winning Strategies Implemented by Industry Players.
- In-depth Insights On the Market Drivers, Restraints, Opportunities, and Threats
- Customization of the Report Available
Frequently Asked Questions?
Microgrid Solutions is a global provider of innovative microgrid solutions. Our microgrids are designed to provide reliable, resilient power and energy services for businesses and communities around the world.
Some of the major players in the microgrid solutions market are ABB, BoxPower Inc, Eaton, GE Grid Solutions, Gham Power, Gridscape, SMA Solar Technology, Sagemcom, Scale Microgrid Solutions, SimpliPhi Power, Schweitzer Engineering Laboratories, Schneider Electric, Siemens, WRH Group, PowerSecure.
The microgrid solutions market is expected to grow at a compound annual growth rate of 16.5%.
Chapter 1 Executive Summary
Chapter 2 Assumptions and Acronyms Used
Chapter 3 Research Methodology
Chapter 4 Microgrid Solutions Market Overview
4.1 Introduction
4.1.1 Market Taxonomy
4.1.2 Market Definition
4.1.3 Macro-Economic Factors Impacting the Market Growth
4.2 Microgrid Solutions Market Dynamics
4.2.1 Market Drivers
4.2.2 Market Restraints
4.2.3 Market Opportunity
4.3 Microgrid Solutions Market - Supply Chain Analysis
4.3.1 List of Key Suppliers
4.3.2 List of Key Distributors
4.3.3 List of Key Consumers
4.4 Key Forces Shaping the Microgrid Solutions Market
4.4.1 Bargaining Power of Suppliers
4.4.2 Bargaining Power of Buyers
4.4.3 Threat of Substitution
4.4.4 Threat of New Entrants
4.4.5 Competitive Rivalry
4.5 Global Microgrid Solutions Market Size & Forecast, 2018-2028
4.5.1 Microgrid Solutions Market Size and Y-o-Y Growth
4.5.2 Microgrid Solutions Market Absolute $ Opportunity
Chapter 5 Global Microgrid Solutions Market Analysis and Forecast by Type
5.1 Introduction
5.1.1 Key Market Trends & Growth Opportunities by Type
5.1.2 Basis Point Share (BPS) Analysis by Type
5.1.3 Absolute $ Opportunity Assessment by Type
5.2 Microgrid Solutions Market Size Forecast by Type
5.2.1 Grid Connected
5.2.2 Off-grid
5.3 Market Attractiveness Analysis by Type
Chapter 6 Global Microgrid Solutions Market Analysis and Forecast by Applications
6.1 Introduction
6.1.1 Key Market Trends & Growth Opportunities by Applications
6.1.2 Basis Point Share (BPS) Analysis by Applications
6.1.3 Absolute $ Opportunity Assessment by Applications
6.2 Microgrid Solutions Market Size Forecast by Applications
6.2.1 Remote
6.2.2 Commercial and Industrial
6.2.3 Utility Distribution
6.2.4 Institutional and Military
6.2.5 Community and Other
6.3 Market Attractiveness Analysis by Applications
Chapter 7 Global Microgrid Solutions Market Analysis and Forecast by Region
7.1 Introduction
7.1.1 Key Market Trends & Growth Opportunities by Region
7.1.2 Basis Point Share (BPS) Analysis by Region
7.1.3 Absolute $ Opportunity Assessment by Region
7.2 Microgrid Solutions Market Size Forecast by Region
7.2.1 North America
7.2.2 Europe
7.2.3 Asia Pacific
7.2.4 Latin America
7.2.5 Middle East & Africa (MEA)
7.3 Market Attractiveness Analysis by Region
Chapter 8 Coronavirus Disease (COVID-19) Impact
8.1 Introduction
8.2 Current & Future Impact Analysis
8.3 Economic Impact Analysis
8.4 Government Policies
8.5 Investment Scenario
Chapter 9 North America Microgrid Solutions Analysis and Forecast
9.1 Introduction
9.2 North America Microgrid Solutions Market Size Forecast by Country
9.2.1 U.S.
9.2.2 Canada
9.3 Basis Point Share (BPS) Analysis by Country
9.4 Absolute $ Opportunity Assessment by Country
9.5 Market Attractiveness Analysis by Country
9.6 North America Microgrid Solutions Market Size Forecast by Type
9.6.1 Grid Connected
9.6.2 Off-grid
9.7 Basis Point Share (BPS) Analysis by Type
9.8 Absolute $ Opportunity Assessment by Type
9.9 Market Attractiveness Analysis by Type
9.10 North America Microgrid Solutions Market Size Forecast by Applications
9.10.1 Remote
9.10.2 Commercial and Industrial
9.10.3 Utility Distribution
9.10.4 Institutional and Military
9.10.5 Community and Other
9.11 Basis Point Share (BPS) Analysis by Applications
9.12 Absolute $ Opportunity Assessment by Applications
9.13 Market Attractiveness Analysis by Applications
Chapter 10 Europe Microgrid Solutions Analysis and Forecast
10.1 Introduction
10.2 Europe Microgrid Solutions Market Size Forecast by Country
10.2.1 Germany
10.2.2 France
10.2.3 Italy
10.2.4 U.K.
10.2.5 Spain
10.2.6 Russia
10.2.7 Rest of Europe
10.3 Basis Point Share (BPS) Analysis by Country
10.4 Absolute $ Opportunity Assessment by Country
10.5 Market Attractiveness Analysis by Country
10.6 Europe Microgrid Solutions Market Size Forecast by Type
10.6.1 Grid Connected
10.6.2 Off-grid
10.7 Basis Point Share (BPS) Analysis by Type
10.8 Absolute $ Opportunity Assessment by Type
10.9 Market Attractiveness Analysis by Type
10.10 Europe Microgrid Solutions Market Size Forecast by Applications
10.10.1 Remote
10.10.2 Commercial and Industrial
10.10.3 Utility Distribution
10.10.4 Institutional and Military
10.10.5 Community and Other
10.11 Basis Point Share (BPS) Analysis by Applications
10.12 Absolute $ Opportunity Assessment by Applications
10.13 Market Attractiveness Analysis by Applications
Chapter 11 Asia Pacific Microgrid Solutions Analysis and Forecast
11.1 Introduction
11.2 Asia Pacific Microgrid Solutions Market Size Forecast by Country
11.2.1 China
11.2.2 Japan
11.2.3 South Korea
11.2.4 India
11.2.5 Australia
11.2.6 South East Asia (SEA)
11.2.7 Rest of Asia Pacific (APAC)
11.3 Basis Point Share (BPS) Analysis by Country
11.4 Absolute $ Opportunity Assessment by Country
11.5 Market Attractiveness Analysis by Country
11.6 Asia Pacific Microgrid Solutions Market Size Forecast by Type
11.6.1 Grid Connected
11.6.2 Off-grid
11.7 Basis Point Share (BPS) Analysis by Type
11.8 Absolute $ Opportunity Assessment by Type
11.9 Market Attractiveness Analysis by Type
11.10 Asia Pacific Microgrid Solutions Market Size Forecast by Applications
11.10.1 Remote
11.10.2 Commercial and Industrial
11.10.3 Utility Distribution
11.10.4 Institutional and Military
11.10.5 Community and Other
11.11 Basis Point Share (BPS) Analysis by Applications
11.12 Absolute $ Opportunity Assessment by Applications
11.13 Market Attractiveness Analysis by Applications
Chapter 12 Latin America Microgrid Solutions Analysis and Forecast
12.1 Introduction
12.2 Latin America Microgrid Solutions Market Size Forecast by Country
12.2.1 Brazil
12.2.2 Mexico
12.2.3 Rest of Latin America (LATAM)
12.3 Basis Point Share (BPS) Analysis by Country
12.4 Absolute $ Opportunity Assessment by Country
12.5 Market Attractiveness Analysis by Country
12.6 Latin America Microgrid Solutions Market Size Forecast by Type
12.6.1 Grid Connected
12.6.2 Off-grid
12.7 Basis Point Share (BPS) Analysis by Type
12.8 Absolute $ Opportunity Assessment by Type
12.9 Market Attractiveness Analysis by Type
12.10 Latin America Microgrid Solutions Market Size Forecast by Applications
12.10.1 Remote
12.10.2 Commercial and Industrial
12.10.3 Utility Distribution
12.10.4 Institutional and Military
12.10.5 Community and Other
12.11 Basis Point Share (BPS) Analysis by Applications
12.12 Absolute $ Opportunity Assessment by Applications
12.13 Market Attractiveness Analysis by Applications
Chapter 13 Middle East & Africa (MEA) Microgrid Solutions Analysis and Forecast
13.1 Introduction
13.2 Middle East & Africa (MEA) Microgrid Solutions Market Size Forecast by Country
13.2.1 Saudi Arabia
13.2.2 South Africa
13.2.3 UAE
13.2.4 Rest of Middle East & Africa (MEA)
13.3 Basis Point Share (BPS) Analysis by Country
13.4 Absolute $ Opportunity Assessment by Country
13.5 Market Attractiveness Analysis by Country
13.6 Middle East & Africa (MEA) Microgrid Solutions Market Size Forecast by Type
13.6.1 Grid Connected
13.6.2 Off-grid
13.7 Basis Point Share (BPS) Analysis by Type
13.8 Absolute $ Opportunity Assessment by Type
13.9 Market Attractiveness Analysis by Type
13.10 Middle East & Africa (MEA) Microgrid Solutions Market Size Forecast by Applications
13.10.1 Remote
13.10.2 Commercial and Industrial
13.10.3 Utility Distribution
13.10.4 Institutional and Military
13.10.5 Community and Other
13.11 Basis Point Share (BPS) Analysis by Applications
13.12 Absolute $ Opportunity Assessment by Applications
13.13 Market Attractiveness Analysis by Applications
Chapter 14 Competition Landscape
14.1 Microgrid Solutions Market: Competitive Dashboard
14.2 Global Microgrid Solutions Market: Market Share Analysis, 2019
14.3 Company Profiles (Details – Overview, Financials, Developments, Strategy)
14.3.1 ABB
14.3.2 BoxPower Inc
14.3.3 Eaton
14.3.4 GE Grid Solutions
14.3.5 Gham Power
14.3.6 Gridscape
14.3.7 SMA Solar Technology
14.3.8 Sagemcom
14.3.9 Scale Microgrid Solutions
14.3.10 SimpliPhi Power
14.3.11 Schweitzer Engineering Laboratories
14.3.12 Schneider Electric
14.3.13 Siemens
14.3.14 WRH Group
14.3.15 PowerSecure
