+353-1-416-8900REST OF WORLD
+44-20-3973-8888REST OF WORLD
1-917-300-0470EAST COAST U.S
1-800-526-8630U.S. (TOLL FREE)

PRINTER FRIENDLY

Microgrid Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2019-2024

  • ID: 4752294
  • Report
  • Region: Global
  • 148 pages
  • IMARC Group
1 of 3

FEATURED COMPANIES

  • ABB Ltd
  • Eaton Corporation
  • General Electric
  • Lockheed Martin
  • Siemens
  • MORE
The global microgrid market was worth US$ 19.3 Billion in 2018. The market is further projected to reach a value of US$ 36.3 Billion by 2024, growing at a CAGR of 10.9% during 2019-2024. A microgrid is a distinct energy system which consists of interconnected loads and distributed energy resources that are capable of operating in parallel with, or independently from the main power grid. Generally, microgrids are considered as the smaller versions of power grids which deliver electricity from producers to consumers. They help to reduce the overall cost and provide backup for the grid in case of emergencies. As compared to traditional electrical grids, microgrids are more efficient and combined with various renewable sources such as solar, wind power, small hydro, geothermal, waste-to-energy, and combined heat and power (CHP) systems. Additionally, they can be powered by batteries, distributed generators or solar panels. Apart from this, microgrids are a reliable source of electricity as they operate continuously at the time of power outages.

Global Microgrid Market Drivers:

In order to ensure uninterrupted power supply through microgrid, various technological advancements have been made to enhance the performance of battery inverters. Other than this, improved battery technologies have also been developed with higher power inputs and outputs for a longer period of time. Such features and technologies are driving the growth of the microgrid market.

The demand for microgrids is on a rise as they allow consumers and developers to meet the environmental objectives by using renewable energy in the form of power generation source. In line with this, governments of several nations are taking initiatives to establish bio power, solar and wind energy farms. Other than this, countries like the United States have implemented regulations like the Clean Power Plan (CPP) rule which are aimed towards reducing carbon dioxide emissions.

Nowadays, dependence on modern communication technologies, such as wireless cloud computing, is increasing which makes power systems susceptible to cyber-attacks and hackers. Therefore, some of the sectors like military and research labs require a secure network with round-the-clock power supply which is provided by microgrids as they are capable of functioning under ‘Island mode' and independent of all external power, and data transmissions. This has contributed towards their augmenting demand across the globe.

Another force that has been proactive in maintaining the growth of the global microgrid market is low transmission losses. Microgrids generate power locally and reduce dependence on long distance transmission lines and thus cut transmission losses.

Breakup by Energy Source:

The microgrid market has been segmented on the basis of energy sources which mainly include natural gas, combined heat and power, solar photovoltaic (PV), diesel, fuel cell and others. Amongst these, natural gas is the most popular source of energy generation used by microgrids as it produces less carbon emissions as compared to oil or coal-fired generation.

Breakup by Application:

Microgrids find several applications which include remote systems, institution and campus, utility/community, defence and others. Currently, microgrids are being majorly used in remote systems which offer localised power to islands, industrial mines and military installations.

Regional Insights:

On a geographical front, North America enjoys the leading position, holding the majority of the market share. The growth in the region is due to the increasing use of microgrids in the defence sector and remote systems for improving security against cyberattacks. North America is followed by Asia Pacific, Europe, Middle East and Africa, and Latin America.

Competitive Analysis:

The global microgrid market is fragmented in nature with the presence of numerous small and large manufacturers who compete in terms of prices and quality. Some of the leading players operating in the market are:

Lockheed Martin
ABB Ltd
General Electric
Eaton Corporation
Siemens

This report provides a deep insight into the global microgrid market covering all its essential aspects. This ranges from macro overview of the market to micro details of the industry performance, recent trends, key market drivers and challenges, SWOT analysis, Porter's five forces analysis, value chain analysis, etc. This report is a must-read for entrepreneurs, investors, researchers, consultants, business strategists, and all those who have any kind of stake or are planning to foray into the microgrid market in any manner.

Key Questions Answered in This Report:
  • How has the global microgrid market performed so far and how will it perform in the coming years?
  • What are the major regions in the global microgrid market?
  • Which are the popular energy sources in the global microgrid market?
  • What are the key applications in the global microgrid market?
  • What are the various stages in the value chain of the global microgrid market?
  • What are the key driving factors and challenges in the global microgrid market?
  • What is the structure of the global microgrid market and who are the key players?
  • What is the degree of competition in the global microgrid market?
  • How are microgrids manufactured?
Note: Product cover images may vary from those shown
2 of 3

FEATURED COMPANIES

  • ABB Ltd
  • Eaton Corporation
  • General Electric
  • Lockheed Martin
  • Siemens
  • MORE
1 Preface

2 Scope and Methodology
2.1 Objectives of the Study
2.2 Stakeholders
2.3 Data Sources
2.3.1 Primary Sources
2.3.2 Secondary Sources
2.4 Market Estimation
2.4.1 Bottom-Up Approach
2.4.2 Top-Down Approach
2.5 Forecasting Methodology

3 Executive Summary

4 Introduction
4.1 Overview
4.2 Key Industry Trends

5 Global Microgrid Market
5.1 Market Overview
5.2 Market Performance
5.3 Market Breakup by Application
5.4 Market Breakup by Energy Source
5.5 Market Breakup by Region
5.6 Market Forecast
5.7 SWOT Analysis
5.7.1 Overview
5.7.2 Strengths
5.7.3 Weaknesses
5.7.4 Opportunities
5.7.5 Threats
5.8 Value Chain Analysis
5.8.1 Raw Material Suppliers
5.8.2 Sub-Components and Sub-Systems Manufacturers
5.8.3 Microgrid Manufacturers
5.8.4 Microgrid Control
5.8.5 Power Distribution
5.8.6 End-Use Industries
5.9 Porters Five Forces Analysis
5.9.1 Overview
5.9.2 Bargaining Power of Buyers
5.9.3 Bargaining Power of Suppliers
5.9.4 Degree of Competition
5.9.5 Threat of New Entrants
5.9.6 Threat of Substitutes

6 Market Breakup by Energy Source
6.1 Natural Gas
6.1.1 Market Trends
6.1.2 Market Forecast
6.2 Combined Heat and Power
6.2.1 Market Trends
6.2.2 Market Forecast
6.3 Solar Photovoltaic (PV)
6.3.1 Market Trends
6.3.2 Market Forecast
6.4 Diesel
6.4.1 Market Trends
6.4.2 Market Forecast
6.5 Fuel Cell
6.5.1 Market Trends
6.5.2 Market Forecast
6.6 Others
6.6.1 Market Trends
6.6.2 Market Forecast

7 Market Breakup by Application
7.1 Remote Systems
7.1.1 Market Trends
7.1.2 Market Forecast
7.2 Institution and Campus
7.2.1 Market Trends
7.2.2 Market Forecast
7.3 Utility/Community
7.3.1 Market Trends
7.3.2 Market Forecast
7.4 Defence
7.4.1 Market Trends
7.4.2 Market Forecast
7.5 Others
7.5.1 Market Trends
7.5.2 Market Forecast

8 Market Breakup by Region
8.1 North America
8.1.1 Market Trends
8.1.2 Market Forecast
8.2 Asia Pacific
8.2.1 Market Trends
8.2.2 Market Forecast
8.3 Europe
8.3.1 Market Trends
8.3.2 Market Forecast
8.4 Middle East and Africa
8.4.1 Market Trends
8.4.2 Market Forecast
8.5 Latin America
8.5.1 Market Trends
8.5.2 Market Forecast

9 Microgrid Manufacturing Process
9.1 Product Overview
9.2 Raw Material Requirements
9.3 Manufacturing Process
9.4 Key Success and Risk Factors

10 Competitive Landscape
10.1 Market Structure
10.2 Key Players
10.3 Profiles of Key Players
10.3.1 Lockheed Martin
10.3.1.1 Company Overview
10.3.1.2 Description
10.3.1.3 Product Portfolio
10.3.1.4 Financials
10.3.1.5 SWOT Analysis
10.3.2 ABB Ltd
10.3.2.1 Company Overview
10.3.2.2 Description
10.3.2.3 Product Portfolio
10.3.2.4 Financials
10.3.2.5 SWOT Analysis
10.3.3 General Electric
10.3.3.1 Company Overview
10.3.3.2 Description
10.3.3.3 Product Portfolio
10.3.3.4 Financials
10.3.3.5 SWOT Analysis
10.3.4 Eaton Corporation
10.3.4.1 Company Overview
10.3.4.2 Description
10.3.4.3 Product Portfolio
10.3.4.4 Financials
10.3.4.5 SWOT Analysis
10.3.5 Siemens
10.3.5.1 Company Overview
10.3.5.2 Description
10.3.5.3 Product Portfolio
10.3.5.4 Financials
10.3.5.5 SWOT Analysis
Note: Product cover images may vary from those shown
3 of 3

Loading
LOADING...

4 of 3
  • Lockheed Martin
  • ABB Ltd
  • General Electric
  • Eaton Corporation
  • Siemens
Note: Product cover images may vary from those shown
Adroll
adroll