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Analysis of Growth Opportunities in the ASEAN Microgrid Market, Forecast to 2025

  • ID: 4988991
  • Report
  • January 2020
  • Region: Global
  • 74 Pages
  • Frost & Sullivan
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Driven by the Growing Demand for Power and Private Investments in Rural Electrification, Four ASEAN Markets will Account for 86.9% of the Total Revenue in 2025

This research service analyzes the growth opportunities in the ASEAN microgrid market, and the countries covered are Malaysia, Singapore, Indonesia, Thailand, Myanmar, Cambodia, Laos, Brunei, Vietnam, and the Philippines. The base year is 2018 and the forecast runs through to 2025. The ASEAN microgrid market is a high-growth market, and revenue is anticipated to register a compound annual growth rate (CAGR) of 25.7% from 2018 to 2025. Market size represents the total annual revenue generated by microgrid vendors. Revenue calculations include both brownfield and greenfield projects. For brownfield projects, the revenue generated from the software, power distribution components, and control and automation systems is included; for greenfield projects, the revenue generated from the software, control and automation, power distribution components, and distributed energy resources is included.

The Philippines is the highest revenue shareholder, while Cambodia and Vietnam will record strong growth. Singapore and Brunei will not generate any market opportunity during the forecast period. A number of pilot projects have been set up across the region, and this will influence future market growth. Technological advancements such as peer-to-peer (P2P) trading, blockchain, and the rising peak demand in urban areas will drive the commercialization of microgrid projects in urban areas, while the electrification of remote communities, uptake of distributed energy resources (DERs), the need for resilient and reliable power supply, and government initiatives and regulations will fuel market growth in Myanmar, Cambodia, and Indonesia.

Most of the projects in the region are funded by foreign companies and global organizations such as The World Bank, the Asian Development Bank, and other non-governmental organizations (NGOs). However, the absence of strong political will and challenges in terms of maintaining assets and revenue collection will slow down market growth.

Key Issues Addressed

  • Is the ASEAN microgrid market growing? How long will it continue to grow, and at what rate will it grow?
  • Which countries in the region account for high revenue shares? Which countries hold high growth potential?
  • What is the future outlook for the market (across all the countries under study)?
  • What are some of the technological advancements in the microgrid space?
  • What kind of business models exist? Which of these models will see high uptake during the forecast period and why?
  • What are the key growth opportunities for the vendors in the ASEAN region?
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1. Executive Summary

  • Key Findings
  • Strategic Imperatives for Market Participants

2. Market Overview

  • Scope of the Study
  • ASEAN - An Overview
  • Access to Electricity - Urban versus Rural
  • Position of ASEAN Countries on the Growth Potential Curve
  • Renewable Energy Targets
  • Regulations in ASEAN
  • Market Drivers
  • Government Initiatives and Regulations Drive Demand for Microgrids to Help Achieve Reliable Power Supply
  • Electrification of Remote Communities and Islands Drives Installation of Microgrids
  • Uptake of DERs, Increased Efficiency, and Reduced Operational Costs Encourage Market Growth
  • Need for Resilient and Reliable Power Supply Drives Installation in ASEAN Countries
  • Market Restraints
  • Limited Understanding and High Investment Costs Restrain Growth

3. Market Forecasts

  • Revenue Forecast by Region
  • Revenue Forecast by Region Discussion
  • Geographic Trends - Key Countries
  • ASEAN Adoption
  • Geographic Trends
  • The Philippines
  • Indonesia
  • Thailand
  • Myanmar
  • Singapore
  • Malaysia
  • Vietnam
  • Cambodia
  • Laos
  • Brunei
  • Competitive Landscape

4. Trends

  • Microgrid Business Models
  • Microgrid Ownership and Financing
  • Technology Trends

5. Growth Opportunities and Companies to Action

  • Growth Opportunity 1 - Anchor-based Business Model
  • Growth Opportunity 2 - Rise in DERs
  • Growth Opportunity 3 - IoT/Analytics
  • Growth Opportunity 4 - P2P Trading
  • Strategic Imperatives for Success and Growth

6. Conclusion

  • Conclusions - Three Big Predictions
  • Legal Disclaimer

7. Appendix

  • Partial List of Acronyms and Abbreviations Used
  • List of Exhibits
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