BANGALORE, India, June 12, 2020
BANGALORE, India, June 12, 2020 /PRNewswire/ -- A microgrid is a group of interconnected loads and distributed energy resources within clearly defined electrical boundaries that act as a single controllable entity with respect to the grid. A microgrid can connect and disconnect from the grid to enable it to operate in both grid-connected or island mode.
In 2018, the global Microgrid market size was USD 11401.55 Million and it is expected to reach USD 30049.32 Million by the end of 2025, with a CAGR of 14.75% between 2019 and 2025.
This report studies the size of the Microgrid market by participants, countries, product types and end industries, historical data for 2014-2018 and forecast data for 2019-2025; this report also studies the global competitive environment, market drivers and patterns, opportunities and challenges, risks and barriers to entry, distribution channels, distributors and Porter's Five Forces Analysis.
This report also analyses the impact of Coronavirus COVID-19 on the Microgrid Market
TRENDS INFLUENCING THE MICROGRID MARKET SIZE
MICROGRID MARKET SHARE ANALYSIS
Market Segment By Region/Countries, This Report Covers
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MICROGRID MARKET SEGMENTATION
Microgrid Market Segmentation By Type, The Product Can Be Split Into Market
Microgrid Market Segment By Application, Split Into
Top Microgrid Companies Covered In This Study
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In 2018, the global Microgrid Technology market size was USD 11400 Million and it is expected to reach USD 32200 Million by the end of 2025, with a CAGR of 13.9% between 2019 and 2025.
Having captured nearly half of all vendor revenue activity, North America holds the largest microgrid technology market share of about 48.59% in 2016 and is expected to dominate the market during the forecast period as well.
The Asia Pacific holds second place in terms of microgrid technology revenue market share with 27.83%.
ABB, GE, and Echelon captured the top three revenue share spots in the Microgrid technology market in 2016. ABB dominated with 7.53 percent revenue share, followed by GE with a 5.64 percent revenue share and Echelon with a 5.03 percent revenue share.
This report studies two types of Microgrid Technology namely, the Grid-Tied Type Microgrid and Independent Type Microgrid. Grid-Tied Type Microgrid has dominated the market with 78.30% Installed Capacity market share in 2016.
Microgrid Controller Market:
The Global Microgrid Controller Market size is expected to grow from USD 5,978.37 Million in 2019 to USD 13,979.87 Million by 2025, at a CAGR of 15.20%.
One of the factors mainly attributable to the growth of the Global Microgrid Controller Market is the enhanced performance of microgrid controllers and the optimization of energy assets. Other factors that are expected to increase the Global Microgrid Controller Market size are growing microgrid opportunities as a reliable and secure power supply, increased focus on renewable energy sources and reduced carbon footprints, increased government investment in microgrid projects, and increased microgrid efficiency using microgrid controllers and energy asset optimization.
The global Independent Microgrid market is segmented into type, and application. Based on type it is categorized as DC Microgrid, AC Microgrid and Hybrid Microgrid. Based on application the market is segmented into Commercial/Industrial Microgrid, Community/Utility Microgrid, Campus/Institutional Microgrid, Military Microgrid, and Remote Microgrid.
The report provides data for each product type by revenue for the forecast time period. It also covers the price of each type of product.
The COVID -19 pandemic has spread to nearly 100 countries across the globe since the outbreak in December 2019. The global impacts of the 2019 coronavirus disease (COVID-19) are already starting to be felt and will affect the Microgrid as a Service (MaaS) Market significantly in 2020.
Market growth can be attributed to reduced operational costs and marginal capital expenditures by MaaS end-users, increased demand for MaaS from hospitals, universities, and remote areas, and high government investment in microgrid infrastructure to improve resiliency.
The market is being driven by increased adoption in manufacturing, increased utilization/reduced curtailment of renewable generation, and improved demand response by scheduling loads.
This report provides a complete quantitative data and qualitative analysis of the global Microgrid Monitoring Systems market size. Market size is analyzed by country, product type, application, and competitors. Expanded coverage includes additional end-user industry breakdowns and in-depth producer profiles.
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