Microgrid Market SWOT Analysis By Political, Economic, Social And Technological Factors, 2025

Felton, Calif., USA, June. 01, 2021 — /EPR Network/ —

The global Microgrid Market research report provides complete insights on industry scope, trends, regional estimates, key application, competitive landscape and financial performance of prominent players. It also offers ready data-driven answers to several industry-level questions. This study enables numerous opportunities for the market players to invest in research and development.

Market Overview:

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.

Key Players:

• ABB
• Siemens AG
• General Electric
• Eaton Corporation
• Exelon
• Honeywell International
• NRG International
• Anarbic
• Pareto
• Spirae
• Northern Power

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Growth Drivers:

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. 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.

Application Outlook:

• Government
• Education
• Commercial
• Utility
• Defense
• Healthcare
• Military
• Industrial

The “Healthcare” segment led the market in 2018 and is anticipated to maintain its dominance by 2025 owing to growing need for continuous power supply in the healthcare domain, and Next-generation microgrids offer healthcare services the ideal power source for sustaining operator involvement although enhancing energy consumption.

Power Source Outlook:

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

Product Outlook:

• Remote
• Grid connected
• Hybrid

Regional Outlook:

North America accounted for the major share of the Microgrid Market Size in 2017 and will continue to lead in the forecast period. The factors that could be attributed to the growth includes growing number of new solar PV microgrids for effectiveness in West and Northeast regions of the U.S. is anticipated to have an optimistic influence.

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