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….
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