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The global microgrid market size reached a value of about USD 21.5 billion in 2020. The market is further expected to grow at a CAGR of nearly 10.5% in the forecast period of 2021 and 2026 to reach a value of approximately USD 39 billion by 2026.
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The dominant region for the microgrid market is North America, accounting for a quarter of the market share. Development in the region is triggered by the growing use of microgrid in defence as well as remote systems to improve cyber-attack protection.
A microgrid refers to a separate energy network composed of interconnected charges and distributed energy supplies that can operate alongside or independently of the main power grid. Microgrids are commonly known to be smaller versions of power grids, which provide electricity to customers from producers. They help reduce overall costs in the case of an emergency and provide redundancy for the grid. They are more powerful, together with a range of other renewable sources like solar, wind, small hydroelectric power, geoelectric, waste energy systems, and heat and power combined (HPCP) systems than conventional electrical grids. Microgrids are a reliable energy source because they continue to work during power outages.
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Based on energy source, the microgrid market can be divided into the following:
It finds wide applications in the following:
The regional microgrid markets include North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.
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There is an increasing demand for microgrid systems that allow customers and developers to achieve the environmental goals by using renewable energy as a source of electricity. Governments of many countries are also taking steps to set up bioelectric power, solar, and wind farms. Others have legislations, such as the Clean Power Plan (CPP), which seek to reduce carbon dioxide emissions, enforced by countries such as the United States. A variety of technological advancements have also been made to increase the performance of battery inverters to ensure an uninterrupted power supply via microgrid. In addition, better battery technology with higher power inputs and outputs has also been developed for a longer time. The development of the microgrid market is driven by these features and technologies.
These days, the reliance on new communication technology like wireless cloud computing is growing, making electricity networks vulnerable to cyber-attacks and hackers. For this purpose, a stable network with 24/7 power is required in certain industries, such as military and research laboratories, which is given by microgrids, as they can be run in 'island mode' independently from all external power and data transfer. This has helped to fuel demand in microgrid market around the world. Low transmission losses are another factor that has been successful in increasing the growth of the global microgrid market. Microgrids produce local power and decrease reliance on long-haul lines and therefore reduce transmission losses, further catalysing the industry growth.
The report gives a detailed analysis of the following key players in the global microgrid market, covering their competitive landscape, capacity, and latest developments like mergers, acquisitions, and investments, expansions of capacity, and plant turnarounds:
The comprehensive EMR report provides an in-depth assessment of the industry based on the Porter's five forces model along with giving a SWOT analysis.
|Scope of the Report||Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment- Energy Source, Application, Region|
|Breakup by Energy Source||Natural Gas, Combined Heat and Power, Solar Photovoltaic (PV), Diesel, Fuel Cell, Others|
|Breakup by Application||Remote Systems, Institution and Campus, Utility/Community, Defence, Others|
|Breakup by Region||North America, Europe, Asia Pacific, Latin America, Middle East and Africa|
|Market Dynamics||SWOT, Porter's Five Forces, EMR’s Key Indicators for Price and Demand|
|Competitive Landscape||Market Structure, Company Profiles- Company Overview, Product Portfolio, Demographic Reach and Achievements, Certifications|
|Companies Covered||ABB Ltd, The General Electric Company, Eaton Corporation plc, Siemens, Others|
|Report Price and Purchase Option||Explore our purchase options that are best suited to your resources and industry needs.|
|Delivery Format||Delivered as an attached PDF and Excel through email, with an option of receiving an editable PPT, according to the purchase option.|
*We at Expert Market Research always thrive to give you the latest information. The numbers in the article are only indicative and may be different from the actual report.
2 Report Coverage – Key Segmentation and Scope
3 Report Description
3.1 Market Definition and Outlook
3.2 Properties and Applications
3.3 Market Analysis
3.4 Key Players
4 Key Assumptions
5 Executive Summary
5.2 Key Drivers
5.3 Key Developments
5.4 Competitive Structure
5.5 Key Industrial Trends
7 Industry Opportunities and Challenges
8 Global Microgrid Market Analysis
8.1 Key Industry Highlights
8.2 Global Microgrid Historical Market (2016-2020)
8.3 Global Microgrid Market Forecast (2021-2026)
8.4 Global Microgrid Market by Energy Source
8.4.1 Natural Gas
188.8.131.52 Market Share
184.108.40.206 Historical Trend (2016-2020)
220.127.116.11 Forecast Trend (2021-2026)
8.4.2 Combined Heat and Power
18.104.22.168 Market Share
22.214.171.124 Historical Trend (2016-2020)
126.96.36.199 Forecast Trend (2021-2026)
8.4.3 Solar Photovoltaic (PV)
188.8.131.52 Market Share
184.108.40.206 Historical Trend (2016-2020)
220.127.116.11 Forecast Trend (2021-2026)
18.104.22.168 Market Share
22.214.171.124 Historical Trend (2016-2020)
126.96.36.199 Forecast Trend (2021-2026)
8.4.5 Fuel Cell
188.8.131.52 Market Share
184.108.40.206 Historical Trend (2016-2020)
220.127.116.11 Forecast Trend (2021-2026)
8.5 Global Microgrid Market by Application
8.5.1 Remote Systems
18.104.22.168 Market Share
22.214.171.124 Historical Trend (2016-2020)
126.96.36.199 Forecast Trend (2021-2026)
8.5.2 Institution and Campus
188.8.131.52 Market Share
184.108.40.206 Historical Trend (2016-2020)
220.127.116.11 Forecast Trend (2021-2026)
18.104.22.168 Market Share
22.214.171.124 Historical Trend (2016-2020)
126.96.36.199 Forecast Trend (2021-2026)
188.8.131.52 Market Share
184.108.40.206 Historical Trend (2016-2020)
220.127.116.11 Forecast Trend (2021-2026)
8.6 Global Microgrid Market by Region
8.6.1 Market Share
18.104.22.168 North America
22.214.171.124 Asia Pacific
126.96.36.199 Latin America
188.8.131.52 Middle East and Africa
9 Regional Analysis
9.1 North America
9.1.1 Historical Trend (2016-2020)
9.1.2 Forecast Trend (2021-2026)
9.1.3 Breakup by Country
184.108.40.206 United States of America
9.2.1 Historical Trend (2016-2020)
9.2.2 Forecast Trend (2021-2026)
9.2.3 Breakup by Country
220.127.116.11 United Kingdom
9.3 Asia Pacific
9.3.1 Historical Trend (2016-2020)
9.3.2 Forecast Trend (2021-2026)
9.3.3 Breakup by Country
9.4 Latin America
9.4.1 Historical Trend (2016-2020)
9.4.2 Forecast Trend (2021-2026)
9.4.3 Breakup by Country
9.5 Middle East and Africa
9.5.1 Historical Trend (2016-2020)
9.5.2 Forecast Trend (2021-2026)
9.5.3 Breakup by Country
18.104.22.168 Saudi Arabia
22.214.171.124 United Arab Emirates
126.96.36.199 South Africa
10 Market Dynamics
10.1 SWOT Analysis
10.2 Porter’s Five Forces Analysis
10.2.1 Supplier’s Power
10.2.2 Buyers Power
10.2.3 Threat of New Entrants
10.2.4 Degree of Rivalry
10.2.5 Threat of Substitutes
10.3 EMR’s Key Indicators for Demand
10.4 EMR’s Key Indicators for Price
11 Value Chain Analysis
12 Competitive Landscape
12.1 Market Structure
12.2 Key Players
12.3 Company Profiles
12.3.1 ABB Ltd
188.8.131.52 Company Overview
184.108.40.206 Product Portfolio
220.127.116.11 Demographic Reach and Achievements
12.3.2 The General Electric Company
18.104.22.168 Company Overview
22.214.171.124 Product Portfolio
126.96.36.199 Demographic Reach and Achievements
12.3.3 Eaton Corporation plc
188.8.131.52 Company Overview
184.108.40.206 Product Portfolio
220.127.116.11 Demographic Reach and Achievements
18.104.22.168 Company Overview
22.214.171.124 Product Portfolio
126.96.36.199 Demographic Reach and Achievements
13 Industry Events and Developments
List of Figures and Tables
1. Global Microgrid Market: Key Industry Highlights, 2016 and 2026
2. Global Microgrid Historical Market: Breakup by Energy Source (USD Billion), 2016-2020
3. Global Microgrid Market Forecast: Breakup by Energy Source (USD Billion), 2021-2026
4. Global Microgrid Historical Market: Breakup by Application (USD Billion), 2016-2020
5. Global Microgrid Market Forecast: Breakup by Application (USD Billion), 2021-2026
6. Global Microgrid Historical Market: Breakup by Region (USD Billion), 2016-2020
7. Global Microgrid Market Forecast: Breakup by Region (USD Billion), 2021-2026
8. North America Microgrid Historical Market: Breakup by Country (USD Billion), 2016-2020
9. North America Microgrid Historical Market: Breakup by Country (USD Billion), 2021-2026
10. Europe Microgrid Market Forecast: Breakup by Country (USD Billion), 2016-2020
11. Europe Microgrid Market Forecast: Breakup by Country (USD Billion), 2021-2026
12. Asia Pacific Microgrid Historical Market: Breakup by Country (USD Billion), 2016-2020
13. Asia Pacific Microgrid Historical Market: Breakup by Country (USD Billion), 2021-2026
14. Latin America Microgrid Historical Market: Breakup by Country (USD Billion), 2016-2020
15. Latin America Microgrid Historical Market: Breakup by Country (USD Billion), 2021-2026
16. Middle East and Africa Microgrid Market Forecast: Breakup by Country (USD Billion), 2016-2020
17. Middle East and Africa Microgrid Market Forecast: Breakup by Country (USD Billion), 2021-2026
18. Global Microgrid Market Structure
In 2020, the global microgrid market attained a value of nearly USD 21.5 billion.
The market is projected to grow at a CAGR of 10.5% between 2021 and 2026.
The market is estimated to witness a healthy growth in the forecast period of 2021-2026 to reach about USD 39 billion by 2026.
The major drivers of the industry, such as rising environmental concern, growing adoption of renewable energy sources, benefits offered by microgrids like low transmission losses and others, and favourable government initiatives with increased investment in the defence sector, are expected to aid the market growth.
The key market trends guiding the growth of the microgrid market include the growing technological advancements and increasing shift towards wireless cloud computing.
The major regions in the industry are North America, Latin America, the Middle East and Africa, Europe, and the Asia Pacific, with North America accounting for the largest market share.
Natural gas, combined heat and power, solar photovoltaic (PV), diesel, and fuel cells serve as the major energy sources of microgrid.
The major applications of microgrid include remote systems, institution and campus, utility/community, and defence.
The major players in the industry are ABB Ltd, The General Electric Company, Eaton Corporation plc, and Siemens, among others.
The global microgrid market attained a value of USD 21.5 billion in 2020, driven by growing demand for renewable energy sources and stringent government regulations. Aided by technological advancements, the market is expected to witness a further growth in the forecast period of 2021-2026, growing at a CAGR of 10.5%. The microgrid market is projected to reach USD 39 billion by 2026.
EMR’s meticulous research methodology delves deep into the market, covering the macro and micro aspects of the industry. Based on its energy sources, the microgrid market can be segmented into natural gas, combined heat and power, solar photovoltaic (PV), diesel, and fuel cells, among others. On the basis of applications, the industry is divided into remote systems, institution and campus, utility/community, and defence, among others. The major regional markets for microgrid are North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa, with North America accounting for the largest share of the market. The key players in the above market include ABB Ltd, The General Electric Company, Eaton Corporation plc, and Siemens, among others.
EMR’s research methodology uses a combination of cutting-edge analytical tools and the expertise of their highly accomplished team, thus, providing their customers with market insights that are accurate, actionable, and help them remain ahead of their competition.
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