Microgrid Market by Type (Grid Connected, and Remote/Island), Offering (Hardware, Software, and Services), Consumption Pattern (Urban & Metropolitan, Semi-urban, and Rural/Island), Vertical, and Region - Global Forecast to 2023

  • ID: 4584290
  • Report
  • Region: Global
  • 178 Pages
  • Markets and Markets
1 of 4
The Microgrid Market is Expected to Grow from USD 22.22 Billion in 2018 to USD 39.10 Billion by 2023, at a CAGR of 11.97%

Microgrid market projected to grow at a CAGR of 11.97% during forecast period
The microgrid market is expected to grow from USD 22.22 billion in 2018 to USD 39.10 billion by 2023, at a CAGR of 11.97% between 2018 and 2023. Increasing demand for reliable and secure power supply worldwide; widespread industrialization and population growth fueling demand for energy storage systems; and government initiatives to reduce carbon footprint are driving the microgrid market. Major factors restraining the growth of the microgrid market are the high installation and maintenance costs of microgrids, lack of knowledge about procedures to secure license rights for connecting multisite microgrids, and land acquisition and registration procedures creating complications for solar PV plant installations in rural areas.

Government & utilities to hold largest share of microgrid market by 2023
Utility microgrids are usually owned by private or government bodies. Aggressive decline in the prices of renewable resources is one of the major reasons for the growth of microgrids in urban and rural areas. Several major developments have been made in this vertical; for instance, in February 2015, Exelon Corp (US) partnered with Anbaric Transmission (US) to build microgrids in New York, US. Anbaric has experience in competitive markets such as New York and New Jersey in particular, where it has helped develop independent transmission. Also, increasing government initiatives worldwide to maximize the electrification rate is expected to increase the market share of the government & utilities vertical by 2023.

Microgrid market in APAC to grow at highest CAGR between 2018 and 2023
The highest growth of the market in APAC can be attributed to the increasing demand for rural electrification projects and the rapidly growing manufacturing vertical in countries such as India, Taiwan, South Korea, and China. Moreover, investments made by both national and international companies, such as ABB, Siemens, GE, and Schneider Electric, in this region, contribute to the growth of the microgrid market in APAC.

In the process of determining and verifying the market size for several segments and subsegments gathered through secondary research, extensive primary interviews were conducted with key experts.

The breakup of the profiles of primary participants is as follows:

  • By Company Type: Tier 1-23 %, Tier 2-32%, and Tier 3-45%
  • By Designation: C-Level Executives-43%, Directors-27%, and Others-30%
  • By Region: Americas-22%, Europe-25%, APAC-43%, and RoW-10%

Companies that provide a range of customized solutions to customers are expected to emerge as game changers.

This report profiles the following key microgrid manufacturers in this market:
1. ABB (Switzerland)
2. General Electric (US)
3. Eaton (Ireland)
4. Siemens (Germany)
5. Schneider Electric (France)
6. Honeywell (US)
7. Homer Energy (US)
8. S&C Electric (US)
9. Power Analytics (US)
10. Exelon Corporation (US)

Research Coverage
This report covers the microgrid market based on grid type, offering, vertical, and region. A detailed analysis of the key industry players has been done to provide insights into their business, products and services, and key strategies, such as product launches and developments, related to the microgrid market.

Key Benefits of Buying This Report
1. This report segments the overall market comprehensively and provides the closest approximations of the global microgrid market size and that of subsegments across verticals and regions.
2. The report helps stakeholders understand the pulse of the market and provides them information on key drivers, restraints, challenges, and opportunities pertaining to the microgrid market.
3. This report would help stakeholders better understand their competitors and gain more insights to enhance their position in the market. The competitive landscape section includes competitor ecosystem, and new product developments in the microgrid market.

READ MORE
Note: Product cover images may vary from those shown
2 of 4

1 Introduction
1.1 Study Objectives
1.2 Definition
1.3 Study Scope
1.3.1 Markets Covered
1.3.2 Geographic Scope
1.3.3 Years Considered for This Study
1.4 Currency
1.5 Limitations
1.6 Stakeholders

2 Research Methodology
2.1 Research Data
2.1.1 Secondary Data
2.1.1.1 Key Data From Secondary Sources
2.1.2 Primary Data
2.1.2.1 Key Data From Primary Sources
2.1.2.2 Key Industry Insights
2.1.2.3 Breakdown of Primaries
2.2 Market Size Estimation
2.2.1 Bottom-Up Approach
2.2.2 Top-Down Approach
2.3 Market Breakdown & Data Triangulation
2.4 Assumptions

3 Executive Summary

4 Premium Insights
4.1 Attractive Opportunities for Microgrid Market Growth
4.2 Microgrid Market, By Type
4.3 Microgrid Market, By Offering
4.4 Microgrid Market, By Hardware
4.5 Microgrid Market in APAC, By Vertical and Country
4.6 Geographic Analysis of Microgrid Market

5 Market Overview
5.1 Introduction
5.2 Market Dynamics
5.2.1 Drivers
5.2.1.1 Increasing Demand for Reliable and Secure Power Supply Worldwide
5.2.1.2 Widespread Industrialization and Population Growth Fueling Demand for Energy Storage Systems
5.2.1.3 Government Initiatives to Reduce Carbon Footprint
5.2.1.4 Convergence of IoT in Enhancing Microgrid Connectivity
5.2.1.5 Advantages of Cheap and Clean Energy Storage
5.2.2 Restraints
5.2.2.1 High Installation and Maintenance Cost of Microgrids
5.2.2.2 Lack of Knowledge About Procedures to Secure License Rights for Connecting Multisite Microgrids
5.2.2.3 Land Acquisition and Registration Procedures Creating Complications for Solar PV Plant Installations in Rural Areas
5.2.3 Opportunities
5.2.3.1 Rising Electrification Projects in Rural Areas of APAC and Africa
5.2.3.2 Growing Demand for Microgrids in Healthcare, Military, and Government Sectors Worldwide
5.2.3.3 Increasing Government Investments in Microgrid Projects
5.2.4 Challenges
5.2.4.1 Dynamic Government Policies, Regulations, and Standards Worldwide
5.2.4.2 Interoperability and Compatibility Issues Due to Large Number of Components/Devices
5.2.4.3 Operational, Technological, and Security Risks Associated With Microgrids

6 Industry Trends
6.1 Value Chain Analysis
6.1.1 Design/Research and Development (R&D)
6.1.2 Raw Material/Component Suppliers and System Integrators
6.1.3 Marketing
6.1.4 Project Development and Construction
6.1.5 Project Financing
6.1.6 End User
6.1.7 After-Sales Services
6.2 Key Trends: Microgrid Market
6.3 Regulatory Standards
6.4 Storage Necessity for Microgrids

7 Microgrid Market, By Type
7.1 Introduction
7.2 Grid Connected
7.3 Remote/Island/Off-Grid

8 Microgrid Market, By Offering
8.1 Introduction
8.2 Hardware
8.2.1 Switchgear
8.2.2 Power Inverter
8.2.3 Smart Meter
8.2.4 Reciprocating Engine
8.2.5 Energy Storage System and Power Generator
8.2.5.1 Power Generator
8.2.5.1.1 Nonrenewables
         8.2.5.1.1.1 Fuel Cells and Diesel Gensets
         8.2.5.1.1.2 CHP and Micro-CHP
         8.2.5.1.1.3 Microturbines
8.2.5.1.2 Renewables
         8.2.5.1.2.1 PV Cells
         8.2.5.1.2.2 Wind Based
         8.2.5.1.2.3 Others
8.2.5.1.3 Energy Storage System
         8.2.5.1.3.1 Lithium-Ion Batteries
         8.2.5.1.3.2 Lead-Acid Batteries
         8.2.5.1.3.3 Flywheels
         8.2.5.1.3.4 Flow Batteries
         8.2.5.1.3.5 Others
8.3 Software
8.3.1 Software as A Service (SaaS)
8.4 Services
8.4.1 Engineering and Design
8.4.2 Monitoring and Control
8.4.3 Operations and Maintenance

9 Consumption Pattern
9.1 Introduction
9.2 Urban/Metropolitan
9.3 Semiurban
9.4 Rural/Island

10 Microgrid Market, By Vertical
10.1 Introduction
10.2 Educational Institutes
10.3 Industrial
10.3.1 Mining
10.3.2 Others
10.4 Military
10.5 Healthcare
10.6 Government & Utilities
10.6.1 Urban Electrification
10.6.2 Rural Electrification
10.7 Others

11 Microgrid Market, Geographic Analysis
11.1 Introduction
11.2 Americas
11.2.1 North America
11.2.1.1 US
11.2.1.2 Others
11.2.2 Rest of Americas
11.3 Europe
11.3.1 UK
11.3.2 Germany
11.3.3 France
11.3.4 Russia
11.3.5 Rest of Europe
11.4 APAC
11.4.1 China
11.4.2 Japan
11.4.3 India
11.4.4 Australia
11.4.5 Rest of APAC
11.5 RoW
11.5.1 Middle East
11.5.2 Africa

12 Competitive Landscape
12.1 Overview
12.2 Ranking of Players (2016)
12.3 Competitive Scenario
12.3.1 Product Launches and Developments
12.3.2 Agreements, Partnerships, and Contracts
12.3.3 Expansions
12.3.4 Mergers and Acquisitions

13 Company Profiles
13.1 Key Players
13.1.1 ABB
13.1.2 General Electric
13.1.3 Eaton
13.1.4 Siemens
13.1.5 Schneider Electric
13.1.6 Honeywell
13.1.7 Homer Energy
13.1.8 S&C Electric
13.1.9 Power Analytics
13.1.10 Exelon Corporation
13.2 Other Important Players
13.2.1 Pareto Energy
13.2.2 Anbaric Transmission
13.2.3 Tesla
13.2.4 Spirae
13.2.5 General Microgrids
13.3 Key Innovators
13.3.1 Gram Power
13.3.2 Powerhive
13.3.3 Advanced Microgrid Solutions
13.3.4 Go Electric
13.3.5 Dajie

14 Appendix
14.1 Insights From Industry Experts
14.2 Discussion Guide
14.3 Knowledge Store: Subscription Portal
14.4 Introducing RT: Real-Time Market Intelligence
14.5 Available Customizations
14.6 Related Reports
14.7 Author Details

List of Tables (67 Tables)

Table 1 Utility Electricity Distribution Infrastructure Age in New York (US)
Table 2 Estimated Cost of A 2 Mw Microgrid
Table 3 Trends in Microgrid Market
Table 4 Microgrid Market: Regulatory Landscape
Table 5 Microgrid Market, By Type, 2015–2023 (USD Billion)
Table 6 Grid-Connected Microgrid Market, By Offering, 2015–2023 (USD Billion)
Table 7 Grid-Connected Microgrid Market, By Hardware, 2015–2023 (USD Billion)
Table 8 Grid-Connected Microgrid Market for Energy Storage System & Power Generator, Bt Type, 2015–2023 (USD Billion)
Table 9 Grid-Connected Microgrid Market for Power Generator, By Type, 2015–2023 (USD Billion)
Table 10 Grid-Connected Microgrid Market, By Vertical, 2015–2023 (USD Billion)
Table 11 Grid-Connected Microgrid Market for Industrial Vertical, By Type, 2015–2023 (USD Billion)
Table 12 Grid-Connected Microgrid Market for Government & Utilities Vertical, By Type, 2015–2023 (USD Billion)
Table 13 Remote/Island Microgrid Market, By Offering, 2015–2023 (USD Billion)
Table 14 Remote/Island Microgrid Market, By Hardware, 2015–2023 (USD Billion)
Table 15 Remote/Island Microgrid Market for Energy Storage System & Power Generator, By Type, 2015–2023 (USD Billion)
Table 16 Remote/Island Microgrid Market for Power Generator, By Type, 2015–2023 (USD Billion)
Table 17 Remote/Island Microgrid Market, By Vertical, 2015–2023 (USD Billion)
Table 18 Remote/Island Microgrid Market for Industrial Vertical, By Type, 2015–2023 (USD Billion)
Table 19 Remote/Island Microgrid Market for Government & Utilities Vertical, By Type, 2015–2023 (USD Billion)
Table 20 Microgrid Market, By Offering, 2015–2023 (USD Billion)
Table 21 Microgrid Market, By Hardware, 2015–2023 (USD Billion)
Table 22 Microgrid Hardware Market, By Type, 2015–2023 (USD Billion)
Table 23 Microgrid Switchgear Market, By Type, 2015–2023 (USD Billion)
Table 24 Microgrid Power Inverter Market, By Type, 2015–2023 (USD Billion)
Table 25 Microgrid Smart Meter Market, By Type, 2015–2023 (USD Billion)
Table 26 Microgrid Reciprocating Engine Market, By Type, 2015–2023 (USD Billion)
Table 27 Microgrid Market for Power Generator, By Type, 2015–2023 (USD Billion)
Table 28 Microgrid Energy Storage System & Power Generator Market, By Type, 2015–2023 (USD Billion)
Table 29 Microgrid Power Generator Market, By Type, 2015–2023 (USD Billion)
Table 30 PV Microgrid Challenges and Recommendations
Table 31 Microgrid Energy Storage System Market, By Type, 2015–2023 (USD Billion)
Table 32 Microgrid Software Market, By Type, 2015–2023 (USD Billion)
Table 33 Microgrid Service Market, By Type, 2015–2023 (USD Billion)
Table 34 Microgrid Market, By Vertical, 2015–2023 (USD Billion)
Table 35 Microgrid Market for Educational Institutes, By Type, 2015–2023 (USD Billion)
Table 36 Microgrid Market for Educational Institutes, By Region, 2015–2023 (USD Billion)
Table 37 Microgrid Industrial Market, By Type, 2015–2023 (USD Billion)
Table 38 Microgrid Industrial Market, By Region, 2015–2023 (USD Billion)
Table 39 Microgrid Industrial Market, By Type, 2015–2023 (USD Billion)
Table 40 Microgrid Military Market, By Type, 2015–2023 (USD Billion)
Table 41 Microgrid Military Market, By Region, 2015–2023 (USD Billion)
Table 42 Microgrid Healthcare Market, By Type, 2015–2023 (USD Billion)
Table 43 Microgrid Healthcare Market, By Region, 2015–2023 (USD Billion)
Table 44 Microgrid Market for Government & Utilities, By Type, 2015–2023 (USD Billion)
Table 45 Microgrid Market for Government & Utilities, By Region, 2015–2023 (USD Billion)
Table 46 Microgrid Market for Government & Utilities, By Consumption Pattern, 2015–2023 (USD Billion)
Table 47 Microgrid Market for Urban Electrification, By Type, 2015–2023 (USD Billion)
Table 48 Microgrid Market for Urban Electrification, By Region, 2015–2023 (USD Billion)
Table 49 Microgrid Market for Rural Electrification, By Connectivity, 2015–2023 (USD Billion)
Table 50 Microgrid Market for Rural Electrification, By Region, 2015–2023 (USD Billion)
Table 51 Microgrid Market for Others, By Type, 2015–2023 (USD Billion)
Table 52 Microgrid Market for Others, By Region, 2015–2023 (USD Billion)
Table 53 Microgrid Market, By Region, 2015–2023 (USD Billion)
Table 54 Microgrid Market, By Power Capacity, 2015–2023 (Megawatt)
Table 55 Microgrid Market in Americas, By Vertical, 2015–2023 (USD Billion)
Table 56 Microgrid Market in Americas, By Region, 2015–2023 (USD Billion)
Table 57 Microgrid Projects in North America
Table 58 North American Microgrid Market, By Offering, 2015–2023 (USD Billion)
Table 59 North American Microgrid Market, By Country, 2015–2023 (USD Billion)
Table 60 Rest of Americas Microgrid Market, By Offering, 2015–2023 (USD Billion)
Table 61 European Microgrid Market, By Vertical, 2015–2023 (USD Billion)
Table 62 European Microgrid Market, By Country, 2015–2023 (USD Billion)
Table 63 Microgrid Market in APAC, By Vertical, 2015–2023 (USD Billion)
Table 64 Microgrid Market in APAC, By Country, 2015–2023 (USD Billion)
Table 65 Microgrid Market in RoW, By Vertical, 2015–2023 (USD Billion)
Table 66 Microgrid Market in RoW, By Region, 2015–2023 (USD Billion)
Table 67 Ranking of Top 5 Players in Microgrid Market (2017)

List of Figures (64 Figures)

Figure 1 Market Segmentation
Figure 2 Research Design
Figure 3 Data Triangulation
Figure 4 Remote/Island to Dominate Microgrid Market Between 2018 and 2023
Figure 5 Microgrid Market for Software to Grow at Highest CAGR Between 2018 and 2023
Figure 6 Energy Storage System and Power Generator to Dominate Microgrid Market By Hardware Between 2018 and 2023
Figure 7 Microgrid Market for Healthcare to Grow at Highest CAGR Between 2018 and 2023
Figure 8 Americas Held Largest Share of Microgrid Market in 2017
Figure 9 Increasing Demand for Reliable and Secure Power Supply Worldwide Driving Microgrid Market Growth
Figure 10 Microgrid Market for Remote/Island to Grow at Higher CAGR Between 2018 and 2023
Figure 11 Microgrid Market for Software to Grow at Highest CAGR Between 2018 and 2023
Figure 12 Microgrid Market for Energy Storage System and Power Generator to Grow at Highest CAGR Between 2018 and 2023
Figure 13 China to Hold Largest Share of Microgrid Market in APAC in 2018
Figure 14 Microgrid Market in India to Grow at Highest CAGR Between 2018 and 2023
Figure 15 Microgrid Market: Drivers, Restraints, Opportunities, and Challenges
Figure 16 ABB Project List: Microgrids Installed Between 2000 and 2016
Figure 17 Decline in Levelized Cost of Electricity (LCOE) for Wind and Solar PV During 2009–2014
Figure 18 Rise in Deployment of Microgrids Over Time
Figure 19 Microgrid Value Chain: Major Value Added During Component Providers and System Integrators Phases
Figure 20 Remote/Island to Dominate Microgrid Market Between 2018 and 2023
Figure 21 Grid-Connected Microgrid Market for Smart Meter to Grow at Highest CAGR Between 2018 and 2023
Figure 22 Others to Dominate Grid-Connected Microgrid Market for Industrial Vertical Between 2018 and 2023
Figure 23 Remote/Island Mode of Operation of A Microgrid
Figure 24 Hardware to Hold Largest Size of Remote/Island Microgrid Market By 2023
Figure 25 Remote/Island Microgrid Market for Power Generator to Grow at Higher CAGR Between 2018 and 2023
Figure 26 Urban Electrification to Hold Larger Size of Remote/Island Microgrid Market for Government & Utilities Vertical By 2023
Figure 27 Microgrid Market for Software to Grow at Highest CAGR Between 2018 and 2023
Figure 28 Microgrid Market Segmentation, By Hardware
Figure 29 Energy Storage System and Power Generator to Dominate Microgrid Market By Hardware Between 2018 and 2023
Figure 30 Remote/Island to Dominate Microgrid Hardware Market for Switchgear Between 2018 and 2023
Figure 31 Working of A Fuel Cell
Figure 32 Microgrid With Storage
Figure 33 Remote/Island to Dominate Microgrid Software Market Between 2018 and 2023
Figure 34 Microgrid Market Segmentation, By Service
Figure 35 Drivers of Microgrid Market in Urban/Metropolitan Areas
Figure 36 Basic Microgrid Schema in Rural Areas
Figure 37 Microgrid Market Segmentation, By Vertical
Figure 38 Government & Utilities to Hold Largest Size of Microgrid Market By 2023
Figure 39 Microgrid Market Segmentation, By Industrial Vertical
Figure 40 Microgrid Industrial Market for Remote/Island to Grow at Higher CAGR Between 2018 and 2023
Figure 41 Others to Dominate Microgrid Industrial Market Between 2018 and 2023
Figure 42 Americas to Dominate Microgrid Military Market Between 2018 and 2023
Figure 43 Americas to Dominate Microgrid Healthcare Market Between 2018 and 2023
Figure 44 Microgrid Market Segmentation, By Government & Utilities Vertical
Figure 45 Remote/Island to Dominate Microgrid Market for Others Between 2018 and 2023
Figure 46 Microgrid Market Segmentation, By Region
Figure 47 Microgrid Market to Grow at Highest CAGR in APAC During Forecast Period
Figure 48 Americas to Hold Largest Size of Microgrid Market By 2023
Figure 49 Americas: Market Snapshot
Figure 50 Microgrid Market to Grow at Higher CAGR in Rest of Americas Between 2018 and 2023
Figure 51 Europe: Market Snapshot
Figure 52 European Microgrid Market for Healthcare to Grow at Highest CAGR Between 2018 and 2023
Figure 53 APAC: Market Snapshot
Figure 54 Microgrid Market in APAC for Government & Utilities to Grow at Highest CAGR Between 2018 and 2023
Figure 55 Microgrid Market in RoW for Healthcare to Grow at Highest CAGR Between 2018 and 2023
Figure 56 Product Launches and Developments – Key Strategies Adopted By Major Players Between 2014 and 2018
Figure 57 Microgrid Market Evaluation
Figure 58 ABB: Company Snapshot
Figure 59 General Electric: Company Snapshot
Figure 60 Eaton: Company Snapshot
Figure 61 Siemens: Company Snapshot
Figure 62 Schneider Electric: Company Snapshot
Figure 63 Honeywell: Company Snapshot
Figure 64 Exelon Corporation: Company Snapshot

Note: Product cover images may vary from those shown
3 of 4

Loading
LOADING...

4 of 4
5 of 4
  • ABB
  • Advanced Microgrid Solutions
  • Anbaric Transmission
  • Dajie
  • Eaton
  • Exelon Corporation
  • General Electric
  • General Microgrids
  • Go Electric
  • Gram Power
  • Homer Energy
  • Honeywell
  • Pareto Energy
  • Power Analytics
  • Powerhive
  • S&C Electric
  • Schneider Electric
  • Siemens
  • Spirae
  • Tesla
Note: Product cover images may vary from those shown
6 of 4
Note: Product cover images may vary from those shown
Adroll
adroll