Global Microgrid Market key Insights Based On Product Type, End-use and Regional Demand Till 2020

Posted on 2018-04-25 by Mark Hub in Technology // 0 Comments

Albany, USA, 2018-Apr-25 — /EPR Network/ —In order to study the various trends and patterns prevailing in the overall market for Microgrid, Market Research Reports Search Engine (MRRSE) has included a new report titled “Microgrid Market” to its wide online database. This research assessment offers a clear insight about the influential factors that are expected to transform the global market in the near future. Readers can access the regional as well as segment-wise analysis for acquiring precise information about the global market structure.

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Global microgrid market stood at US$9.8 bn in 2013 and is expected to reach US$35.1 bn by 2020. It is expected to expand at a whopping CAGR of 20.70 % between 2014 and 2020. The title of the report is As per the report, the global microgrid market is fuelled by the economic development and the rapid industrialization witnessed globally. In addition, the technical, direct and indirect economic, social, and environmental advantages related to the usage of microgrids will further stimulate the market. The factors such as the growing demand for energy and the development in the technologies of renewable energy have also impacted the market positively. On the other hand, the factors such as the absence of an adequate regulatory framework and the increasing cost of development along with operational challenges are amongst the chief factors that may pose a negative impact on the growth of the market for microgrids.

On the basis of product, the market is segmented into remote (off-grid) and grid-tied (grid connected). Amongst these, grid-tied microgrids are able to operate with or without a connection with the main grid, while off-grid microgrids are autonomous systems manufactured for utilization within areas that lack proper grid infrastructure.

On the basis of application, the microgrid market is segmented into community and utility, campus and institutions, defense and military, commercial and industrial, and remote islands. Amongst these, the segment of campus and institutions is predicted to lead the market in the forecast horizon. This is owing to the rising government funding to enable growth of renewable energy sources at institutions and campuses. On the other hand, as per the report, the demand for microgrids within remote islands will rise at a swift rate in forthcoming years.

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In terms of geography, the microgrid market is segmented into Europe, North America, Asia Pacific, and Rest of the World (RoW). The segment of defense and military is poised to be the biggest user of microgrids and is predicted to fuel growth within the region of North America. This is due to the requirement for enhanced energy reliability and security within the defense and military sector of this region. On the other hand, the regions of Europe and Asia Pacific are also likely to use microgrids extensively in the coming years. This is due to the increasing count of investments made for restructuring energy mixes. In addition, the backing from supportive regulatory policies will also fuel the demand for microgrids within these two regions.

The report provides a detailed analysis of various factors influencing the global microgrid market with the help of Porter’s Five Forces analysis. The analysis helps to understand the bargaining power of buyers, bargaining power of suppliers, threat from substitutes, threat from new entrants, and degree of competition in the global microgrid market. The study analyses the value chain of the global microgrid market and moreover comprises a market attractiveness analysis, wherein numerous applications are benchmarked on the basis of market size, growth rate, and general attractiveness.

Company profiles of leading players have been provided in the global microgrid market report along with a detailed analysis of their market share. The study also features profiles of leading global microgrid companies such as Chevron Corporation, Power Analytics Corporation, GE Energy Management, Pareto Energy, and Siemens AG. The report also profiles market players such as ABB, Echelon Corporation, Honeywell International, Inc., Schneider Electric, S&C Electric Company, Toshiba Corporation, Viridity Energy, Inc., and ZBB Energy Corporation.

Global Microgrid Market: Product Segment
- Grid-tied (Grid Connected)
- Remote (Off-grid)

Global Microgrid Market: Application Segment
- Campus and Institutions
- Community and Utility
- Commercial and Industrial
- Defense and Military
- Remote Islands

Global Microgrid Market: Regional Analysis
- North America
- Europe
- Asia Pacific
- Rest of the World (RoW)

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