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.
Our team has leveraged analytical tools like Porter’s Five Forces Analysis and SWOT Analysis to discern vital information about the leading market regions’ competitive scenario. Additionally, the report explains the latest global economic landscape scenario with respect to the currently unfolding COVID-19 pandemic. The pandemic has significantly affected millions of lives and markets worldwide. Besides, it has led to massive disruptions in this particular business sphere. The report encompasses the effects of the pandemic on the Microgrid market.
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Key Highlights From The Report
- In September 2019, Honeywell and NRStor C&I Launch the largest Behind-the-Meter Battery Energy storage Program in the world.
- Combined heat & power (CHP) held the largest market share of 34.0% in the year 2019 due to the increasing adoption of sustainable sources of power generation, including hydro, solar, and wind energy.
- The grid-connected segment is forecasted to grow with the fastest CAGR of 10.6% over the forecast period. Reliable power supply, improved resiliency & efficiency, low cost of energy storage, and reduction in the emission level are some of the driving factors of the segment.
- The Asia Pacific region is expected to be the fastest-growing region over the forecast period due to the government’s increasing initiatives to provide a cost-effective and uninterrupted supply of electricity in the rural areas of the developing economies.
- 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)
The most prominent geographical segments covered in the report include:
North America (U.S., Canada)
Europe (U.K., Italy, Germany, France, Rest of EU)
Asia Pacific (India, Japan, China, South Korea, Australia, Rest of APAC)
Latin America (Chile, Brazil, Argentina, Rest of Latin America)
Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)
The latest research endows readers with an extensive database of the worldwide Microgrid business sector and anticipates massive growth of the Microgrid market in the upcoming years. The report focuses on pivotal factors like the latest market trends, sales volume, revenue forecast, market size, and regional concentration. It helps the readers determine the overall market shares held by distributors and traders engaged in this market through the supply chain. In addition, the report undertakes a comprehensive study of the market using advanced analytical methods, such as SWOT analysis, Porter’s five forces analysis, speculation attainability investigation, and venture return investigation.
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Objectives of the Global Microgrid Market Study:
- An in-depth study of the evolving market sectors and the growth & penetration status of the global Microgrid market
- COVID-19 Impact Analysis to highlight the major opportunities and challenges
- Strategic recommendations to help readers formulate lucrative business strategies
- Identification of the emerging players and their tactical approaches to expand market presence
- An extensive study of the product portfolios of the major market players and their regional presence
- A closer look at the strategic initiatives undertaken by the leading companies across this industry, including mergers & acquisitions, collaborations, partnerships, and joint ventures
Table Of Content:
Chapter 1. Methodology & Sources
1.1. Market Definition
1.2. Research Scope
1.4. Research Sources
1.4.3. Paid Sources
1.5. Market Estimation Technique
Chapter 2. Executive Summary
2.1. Summary Snapshot, 2019-2027
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. Market indicators analysis
4.2.2. Market drivers analysis
22.214.171.124. Rising power demand in developing economies
126.96.36.199. Increasing adoption of renewable energy sources for power generation
188.8.131.52. Increasing demand for reliable power supply
4.2.3. Market restraints analysis
184.108.40.206. High Installation costs of the microgrid technology
220.127.116.11. Present challenging economic conditions due to the pandemic
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 5. Microgrid Market By Power Insights & Trends, Revenue (USD Million), Volume (Kilo Tons)
5.1. Power Dynamics & Market Share, 2019 & 2027
5.1.1. Combined heat & power (CHP)
5.1.2. Solar Photovoltaic (PV)
5.1.3. Natural Gas
5.1.4. Fuel Cell
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About Emergen Research
Emergen Research is a market research and consulting company that provides syndicated research reports, customized research reports, and consulting services. Our solutions purely focus on your purpose to locate, target, and analyze consumer behavior shifts across demographics, across industries, and help clients make smarter business decisions. We offer market intelligence studies ensuring relevant and fact-based research across multiple industries, including Healthcare, Touch Points, Chemicals, Types, and Energy. We consistently update our research offerings to ensure our clients are aware of the latest trends existent in the market. Emergen Research has a strong base of experienced analysts from varied areas of expertise. Our industry experience and ability to develop a concrete solution to any research problems provides our clients with the ability to secure an edge over their respective competitors.
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