Microgrid Market Overview, Challenges and Growth Opportunities Analysis till 2025

Felton, Calif., USA, Dec. 09, 2020 — /EPR Network/ —

Global Microgrid Market is anticipated to reach USD 17.51 billion by 2025. The Microgrid is a combination of generation, distribution, transmission, and electricity and used on a small scale as compared to the conventional Microgrid. Microgrids produce power, and in doing so, decrease necessity of long distance transmission lines and cut transmission damages.

The factors that propel the growth of the microgrid industry include increasing demand for reliable and secure power supply worldwide, government initiatives to reduce carbon footprint, and the compensations of clean and cheap energy storage. On the other hand, there are factors that may hamper the growth of the market including massive investment essential for integrating existing systems with microgrid, high primary cost of installation, solar PV installation in rural areas, and technical barriers. Microgrid Market is anticipated to grow at a significant CAGR of 17.0% in the upcoming period as the scope, product types, and its applications are increasing across the globe.

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Microgrid Power Source Outlook (Volume, MW; Revenue, USD Million; 2014 – 2025)

  • Natural Gas
  • CHP
  • Solar PV
  • Diesel
  • Fuel Cell
  • Others

Microgrid Product Outlook (Volume, MW; Revenue, USD Million; 2014 – 2025)

  • Remote
  • Grid connected
  • Hybrid

Some of the key players that fuel the growth of the microgrid industry comprise Exelon, GE, Lockheed Martin Corporation, Siemens AG, Lockheed Martin Corporation, Power Analytics, ABB Group, Schneider Electric, Honeywell International Inc, Toshiba Corporation, Echelon Corporation, and ZBB Energy Corporation. The leading companies are taking up partnerships, mergers and acquisitions, and joint ventures in order to boost the inorganic growth of the industry.

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Microgrid Regional Outlook (Volume, MW; Revenue, USD Million; 2014 – 2025)

  • North America
  • U.S.
  • Europe
  • Germany
  • Asia Pacific
  • China
  • India
  • Central & South America
  • Brazil
  • Middle East & Africa

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