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Micro Grids - Global Market Trajectory & Analytics

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    Report

  • 331 Pages
  • October 2022
  • Region: Global
  • Global Industry Analysts, Inc
  • ID: 4805182

Global Micro Grids Market to Reach $50.2 Billion by 2027

Amid the COVID-19 crisis, the global market for Micro Grids estimated at US$27 Billion in the year 2020, is projected to reach a revised size of US$50.2 Billion by 2027, growing at a CAGR of 9.3% over the period 2020-2027. Grid Connected, one of the segments analyzed in the report, is projected to record 10.2% CAGR and reach US$35.5 Billion by the end of the analysis period. Taking into account the ongoing post pandemic recovery, growth in the Off-Grid Connected segment is readjusted to a revised 7.3% CAGR for the next 7-year period.

The U.S. Market is Estimated at $6.1 Billion, While China is Forecast to Grow at 10.7% CAGR

The Micro Grids market in the U.S. is estimated at US$6.1 Billion in the year 2020. China, the world's second largest economy, is forecast to reach a projected market size of US$13.2 Billion by the year 2027 trailing a CAGR of 10.7% over the period 2020 to 2027. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 7.1% and 7.9% respectively over the 2020-2027 period. Within Europe, Germany is forecast to grow at approximately 7.8% CAGR.

Select Competitors (Total 55 Featured)

  • ABB Ltd
  • AMS
  • Caterpillar
  • Eaton Corporation Inc.
  • GE's Grid Solutions
  • General Microgrids
  • Heila Technologies
  • Hitachi ABB Power Grids
  • HOMER Energy LLC
  • Honeywell International Inc.
  • Lockheed Martin Corporation
  • Power Analytics Corporation
  • S&C Electric Company
  • Schneider Electric SE
  • Siemens AG
  • Spirae, LLC
  • Tesla, Inc.
  • Toshiba Corporation

What's New for 2022?

  • Global competitiveness and key competitor percentage market shares
  • Market presence across multiple geographies - Strong/Active/Niche/Trivial
  • Online interactive peer-to-peer collaborative bespoke updates
  • Access to a digital archives and Research Platform
  • Complimentary updates for one year
Frequently Asked Questions about the Global Market for Micro Grids

What is the estimated value of the Global Market for Micro Grids?

The Global Market for Micro Grids was estimated to be valued at $27 Billion in 2020.

What is the growth rate of the Global Market for Micro Grids?

The growth rate of the Global Market for Micro Grids is 9.3%, with an estimated value of $50.2 Billion by 2027.

What is the forecasted size of the Global Market for Micro Grids?

The Global Market for Micro Grids is estimated to be worth $50.2 Billion by 2027.

Who are the key companies in the Global Market for Micro Grids?

Key companies in the Global Market for Micro Grids include ABB Ltd, AMS, Caterpillar, Eaton Corporation Inc., GE's Grid Solutions, General Microgrids, Heila Technologies, Hitachi ABB Power Grids and Honeywell International Inc..

Table of Contents

I. METHODOLOGYII. EXECUTIVE SUMMARY
1. MARKET OVERVIEW
  • Micro Grids - Global Key Competitors Percentage Market Share in 2022 (E)
  • Competitive Market Presence - Strong/Active/Niche/Trivial for Players Worldwide in 2022 (E)
  • Growing Investments in Energy Infrastructure: The Cornerstone for Growth in the Market
  • The Race Between the Virus & Vaccines Intensifies. Amidst this Chaotic Battle, Where is the World Economy Headed in 2021?
  • These are Times When Questions Abound & Answers Are Few
  • So How Fast Or Slow Are We Moving?
  • How Fast the World is Vaccinated Will Determine How Soon the Pandemic Will End: Global Number of Annual COVID-19 Vaccine Doses (In Million) for Years 2020 through 2025 by Geographic Region/Country
  • As India Burns Amid a Lethal Double & Triple Mutation Driven Second Wave, Its Clear That Equity is Not a Part of Global Policy on Tackling COVID
  • What We Know So Far - “Vaccine Efficiency Against New Strains is Decreasing”
  • Progress on Vaccinations, Why Should Businesses Care?
  • With IMF's Upward Revision of Global GDP Forecasts for 2021, Most Companies Are Bullish About a Global Economic Comeback
  • A Strong 2021 Economic Rebound Based On Pent-Up Demand Comes as a Relief for Suffering Industries & Markets: World Economic Growth Projections (Real GDP, Annual % Change) for 2020 through 2022
  • Easing Unemployment Levels in 2021 Although Moderate Will Infuse Hope for Industries Reliant on Consumer Discretionary Incomes: Global Number of Unemployed People (In Million) for Years 2017, 2019, 2020, and 2022
  • A Retrospective Review of Year 2020 as the Worst Year in Humanity's History that Left the World in Shambles & Industries and Markets Upended
  • How the Energy Industry is Impacted by the Pandemic & What's the New Normal?
  • Global Energy Market Reset & Trajectory - Growth Outlook (In %) For Years 2019 Through 2025
  • Beyond the Current Challenges, The Pandemic Will Fuel Our Energy Transition
  • Global Clean Technologies Market Reset & Trajectory - Growth Outlook (In %) For Years 2019 Through 2025
  • Microgrid: Definition, Scope, Importance and Benefits
  • Recent Market Activity
  • Innovations
  • World Brands
2. FOCUS ON SELECT PLAYERS
3. MARKET TRENDS & DRIVERS
  • Rise in Power Outages & Undesirable Impact of Power Outages on Modern Digitalized Enterprises Pin Hopes on Microgrids to End Black Outs
  • Bad Weather Conditions Accelerate Risk of Power Outages
  • Average Number of Power Outages in Firms Per Month, Worldwide by Region: 2020
  • Cost of Load Failures Due to Power Disruptions/Outages in US$ Per Hour by Select Commercial Activity
  • Value Lost Due to Electrical Outages as a Percentage (%) of Sales of Affected Firms
  • Focus on Decentralized Energy Generation Drives Deployment of Microgrids
  • Distributed Generation & Microgrids. Here's What You Need to Know
  • Growing Value of Distributed Energy Resources (DERs) in Dual Addressal of Environmental & Energy Sustainability Challenges Drives Demand for Microgrids: Global Distributed Generation (DG) Market (In US$ Billion) for Years 2020, 2022 and 2024
  • Rise of Smart Cities Drives the Focus on Engineering Microgrids to Achieve Slated Energy Goals
  • Focus on Reshaping City Resilience to Future Pandemics & Crisis Will Spur Rejuvenated Spending on Smart City Projects in the Post COVID-19 Period, Providing a Goldmine of Opportunities for Microgrids: Global Smart City Spending (In US$ Billion) for the Years 2021, 2024 & 2027
  • Private Sector Microgrids Rise Tall Over the Horizon to Offer Exciting Opportunities for Growth
  • Chronic Public Sector Underfunding for Infrastructure Development Drives Private Participation & Investments in Distributed Energy Via Private Microgrids: Cumulative Global Infrastructure Spending Gap 2018-2040 (In US$ Billion)
  • U.S. Government Budget Deficits (In US$ Billion)
  • Rising Investments in Renewable Energy Leads to Rapid Mushrooming of Renewable Microgrids Across the Global Energy Terrain
  • Microgrids Are the Backbone Infrastructure that Makes Intermittent Renewable Energy More Resilient & Practically Deployable in the Real World Scenario: Global Projected Net Capacity Additions of Renewable Energy (In GW) for the Period 2019 to 2024
  • Cloud Based Management of Microgrids Attract Interest in Community Microgrids
  • Supported by Myriad Benefits Automated Microgrid Control Systems Grow in Popularity
  • IoT Revolutionizes Microgrid Management
  • IoT Disrupts the Distributed Energy Space by Turning Microgrids into Smart Systems Capable of Maximizing Energy Efficiency & Energy Sharing & Trading: Global Value of IoT Investments in the Energy Industry (In US$ Billion) for the Years 2017, 2019, 2022 and 2024
  • Innovations in Microgrid Control Systems Spurs the Popularity & Operational Feasibility Microgrids
  • Hardware-in-the-Loop (HIL): A Key Innovation in Micro-Grid Control System
  • Global Market for Microgrid Control Systems (In US$ Billion) for Years 2020, 2022, 2024, 2026
  • The Rise of Blockchain Microgrids, a Major Trend of Note
  • The Move to Monetize Microgrids Sets Into Motion the Rise of Blockchain Microgrids: Global Value of Blockchain Investments in the Energy Industry (In US$ Million) for the Years 2017, 2019, 2022 and 2024
  • AI and Microgrids. Here's What's Happening
  • Robust Outlook for EVs Creates a Parallel Rise in Microgrids for Fleet Electrification
  • Growing Demand for EVs Brings Good News for Microgrids: Number of EVs On Road Worldwide by Type (In Units) for the Years 2019 and 2022
  • Role of Microgrids in Fleet Electrification
  • Growing Focus on Disaster Preparedness Drives the Importance of Microgrids
  • Can COVID-19 Provide a Launchpad for the Rise of Home/Residential Microgrid?
  • COVID-19 Induced Transition to Work-From-Home & Online Education Shifts Focus on Electricity Reliability
  • Companies Make an Abrupt, Immediate & Epic Shift Towards Remote Working Mandated Due to COVID-19, Stepping Up the Value of Reliable and Uninterrupted Electricity: WFM Employees as a % of the Total Workforce
  • The Time is Ripe for Hybrid Microgrid. Here's Why
  • Microgrids Crucial for a Low Carbon Future
  • COVID-19 Expedites Decarbonization Efforts
  • Moving towards Low-Carbon Future with Microgrids
4. GLOBAL MARKET PERSPECTIVE
  • Table 1: World Recent Past, Current & Future Analysis for Grid Connected by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Revenues in US$ Thousand for Years 2020 through 2027 and % CAGR
  • Table 2: World Historic Review for Grid Connected by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Revenues in US$ Thousand for Years 2015 through 2019 and % CAGR
  • Table 3: World 12-Year Perspective for Grid Connected by Geographic Region - Percentage Breakdown of Value Revenues for USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa for Years 2015, 2021 & 2027
  • Table 4: World Recent Past, Current & Future Analysis for Off-Grid Connected by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Revenues in US$ Thousand for Years 2020 through 2027 and % CAGR
  • Table 5: World Historic Review for Off-Grid Connected by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Revenues in US$ Thousand for Years 2015 through 2019 and % CAGR
  • Table 6: World 12-Year Perspective for Off-Grid Connected by Geographic Region - Percentage Breakdown of Value Revenues for USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa for Years 2015, 2021 & 2027
  • Table 7: World Recent Past, Current & Future Analysis for Remote by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Revenues in US$ Thousand for Years 2020 through 2027 and % CAGR
  • Table 8: World Historic Review for Remote by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Revenues in US$ Thousand for Years 2015 through 2019 and % CAGR
  • Table 9: World 12-Year Perspective for Remote by Geographic Region - Percentage Breakdown of Value Revenues for USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa for Years 2015, 2021 & 2027
  • Table 10: World Recent Past, Current & Future Analysis for Commercial & Industrial by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Revenues in US$ Thousand for Years 2020 through 2027 and % CAGR
  • Table 11: World Historic Review for Commercial & Industrial by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Revenues in US$ Thousand for Years 2015 through 2019 and % CAGR
  • Table 12: World 12-Year Perspective for Commercial & Industrial by Geographic Region - Percentage Breakdown of Value Revenues for USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa for Years 2015, 2021 & 2027
  • Table 13: World Recent Past, Current & Future Analysis for Government by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Revenues in US$ Thousand for Years 2020 through 2027 and % CAGR
  • Table 14: World Historic Review for Government by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Revenues in US$ Thousand for Years 2015 through 2019 and % CAGR
  • Table 15: World 12-Year Perspective for Government by Geographic Region - Percentage Breakdown of Value Revenues for USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa for Years 2015, 2021 & 2027
  • Table 16: World Recent Past, Current & Future Analysis for Educational Institutes by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Revenues in US$ Thousand for Years 2020 through 2027 and % CAGR
  • Table 17: World Historic Review for Educational Institutes by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Revenues in US$ Thousand for Years 2015 through 2019 and % CAGR
  • Table 18: World 12-Year Perspective for Educational Institutes by Geographic Region - Percentage Breakdown of Value Revenues for USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa for Years 2015, 2021 & 2027
  • Table 19: World Recent Past, Current & Future Analysis for Military by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Revenues in US$ Thousand for Years 2020 through 2027 and % CAGR
  • Table 20: World Historic Review for Military by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Revenues in US$ Thousand for Years 2015 through 2019 and % CAGR
  • Table 21: World 12-Year Perspective for Military by Geographic Region - Percentage Breakdown of Value Revenues for USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa for Years 2015, 2021 & 2027
  • Table 22: World Recent Past, Current & Future Analysis for Other End-Uses by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Revenues in US$ Thousand for Years 2020 through 2027 and % CAGR
  • Table 23: World Historic Review for Other End-Uses by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Revenues in US$ Thousand for Years 2015 through 2019 and % CAGR
  • Table 24: World 12-Year Perspective for Other End-Uses by Geographic Region - Percentage Breakdown of Value Revenues for USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa for Years 2015, 2021 & 2027
  • Table 25: World Recent Past, Current & Future Analysis for Micro Grids by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Revenues in US$ Thousand for Years 2020 through 2027 and % CAGR
  • Table 26: World Historic Review for Micro Grids by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Revenues in US$ Thousand for Years 2015 through 2019 and % CAGR
  • Table 27: World 12-Year Perspective for Micro Grids by Geographic Region - Percentage Breakdown of Value Revenues for USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets for Years 2015, 2021 & 2027
III. MARKET ANALYSIS
UNITED STATES
  • Micro Grids Market Presence - Strong/Active/Niche/Trivial - Key Competitors in the United States for 2022 (E)
CANADA
JAPAN
  • Micro Grids Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Japan for 2022 (E)
CHINA
  • Micro Grids Market Presence - Strong/Active/Niche/Trivial - Key Competitors in China for 2022 (E)
EUROPE
  • Micro Grids Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Europe for 2022 (E)
FRANCE
  • Micro Grids Market Presence - Strong/Active/Niche/Trivial - Key Competitors in France for 2022 (E)
GERMANY
  • Micro Grids Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Germany for 2022 (E)
ITALY
UNITED KINGDOM
  • Micro Grids Market Presence - Strong/Active/Niche/Trivial - Key Competitors in the United Kingdom for 2022 (E)
SPAINRUSSIAREST OF EUROPE
ASIA-PACIFIC
  • Micro Grids Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Asia-Pacific for 2022 (E)
LATIN AMERICA
  • Micro Grids Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Latin America for 2022 (E)
MIDDLE EAST
  • Micro Grids Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Middle East for 2022 (E)
AFRICA
  • Micro Grids Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Africa for 2022 (E)
IV. COMPETITION
  • Total Companies Profiled: 55

Companies Mentioned

A selection of companies mentioned in this report includes:

  • ABB Ltd
  • AMS
  • Caterpillar
  • Eaton Corporation Inc.
  • GE's Grid Solutions
  • General Microgrids
  • Heila Technologies
  • Hitachi ABB Power Grids
  • HOMER Energy LLC
  • Honeywell International Inc.
  • Lockheed Martin Corporation
  • Power Analytics Corporation
  • S&C Electric Company
  • Schneider Electric SE
  • Siemens AG
  • Spirae, LLC
  • Tesla, Inc.
  • Toshiba Corporation