Microgrid market size -Share, Growth, Trends, Covid-19 Impact, And Forecast (2020- 2027)

 Microgrid market size Scenario:

The COVID-19 pandemic disruption is estimated to transform the Microgrid market size in the years to come drastically, and its after-effects will be persistently seen in the years ahead. The MRFR report on the Microgrid market size meticulously tracks the COVID-19 pandemic effect for the years ahead. Moreover, the precise analysis of drivers and restraints in a post-COVID-19 market offers a coherent understanding of future growth cues.

Market research Future (MRFR), the global Microgrid as a Service (MaaS) market is expected to reach a valuation of USD 2201 Mn at a CAGR of 16% over the forecast period of 2020-2027. The global microgrid market size was valued at USD 772 Mn in 2027.

To address the problems associated with power resiliency, alternative energy options such as advanced microgrids are being considered. Microgrids are a distribution network of distributed energy resources (DER) that is capable of islanding regardless of being connected to a traditional utility power grid. Microgrid-as-a-Service (MaaS) or reliability-as-a-service is a new business model which can be used in generating and conserving energy without financial strain. They are a good source of income for consumers owing to its ensured reliability and resilience.

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Competitive Outlook:

 

The notable players in the global microgrid market size include General Electric (U.S.), Exelon Corp. (U.S.), Eaton Corp. PLC (Ireland), Northern Power Systems Corp. (U.S.), Spirae, Inc. (U.S.), NRG Energy, Inc. (U.S.), Schneider Electric SE (France), ABB Ltd. (Switzerland), Siemens AG (Germany), and Duke Energy Corporation (U.S.).

 

Segmentation:

·       The global Microgrid market size has been segmented based on grid type, service type, and industry.

·       By grid type, the global microgrid market size has been segmented into Grid connected and remote/Islanded.

·       By service type, the global microgrid market size has been segmented into Service, Monitoring & Control Service, and Operation & Maintenance Service.

·       By industry, the global Microgrid market size has been segmented into Manufacturing, Residential & Commercial, Military, and Utility.

Regional Analysis:

By region, the global Microgrid market size has been segmented into North America, Asia market. The United States Department of Energy encourages the adoption of microgrid which has resulted in increased adoption of MaaS in various government as well as private projects.Pacific (APAC), Europe, and the Rest of the World (RoW).

 

APAC is leading the global microgrid market size. Increased demand for power due to rapid industrialization, high penetration of automation across industries in the region. In addition, government initiatives towards the electrification of rural areas in developing countries such as India, China, and Japan generate massive demand for MaaS. Additionally, increasing demand for renewable energy sources acts as a plus for the growth of the market.

North America is a significant market for MaaS which is likely to exhibit substantial growth over the forecast period. Persistent development in the power sector in the region can be credited for the growth of the

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Table of Contents:

1 Market Introduction

2 Research Methodologies

2.1 Research Type

2.2 Primary Research

2.3 Secondary Research

2.4 Forecast Model

2.4.1 Market Data Collection, Analysis & Forecast

2.4.2 Market Size Estimation

2.4.3 Market Crackdown & Data Triangulation

3 Global Microgrid market size: Overview

3.1 Introduction

3.1.1 Definition

3.1.2 Market Segmentation Of Microgrid market size

Continued….

 

About Market Research Future:

Market Research Future (MRFR) has created a niche in the world of market research. It is counted among the top market research companies that offer well-researched and updated market research reports and insights to businesses of all sizes. What sets us apart is our super-responsive team that offers quality work keeping clients abridged of the prospective challenges and opportunities in various markets. Our team is adept in their space as well as patiently listens to every client.

 

The best part is they know their work inside out and possess the expertise to guide the client in the right direction and achieve results on a tight deadline. We are a one-stop solution for all your data research needs. Our team does not believe in the “one size fits all” approach to creating a report that is detailed and concise. We handle 13 industry verticals including Healthcare, Chemicals and Materials, Information and Communications Technology, Semiconductor and Electronics, Energy and Power, Food, Beverages & Nutrition, Automobile, Consumer and Retail, Aerospace and Defense, Industrial Automation and Equipment, Packaging & Transport, Construction, and Agriculture. With our unique approach for every market report, we aim to reach the zenith in qualitative business intelligence and syndicated market research. 

 

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