Asia Pacific Grid Connected Microgrid Market Size - By Grid Type (AC, DC, Hybrid), By Power Source (Diesel Generators, Natural Gas, Solar PV, CHP), By Storage Device, By Application & Forecast, 2024 – 2032

Asia Pacific Grid Connected Microgrid Market Size

Asia Pacific Grid Connected Microgrid Market was valued at USD 4.2 billion in 2023 and is anticipated to grow at a CAGR of over 27.7% during 2024 to 2032. It is a localized energy system that can operate both connected to the main electrical grid and independently in island mode. It integrates renewable energy sources, energy storage systems, and smart grid technologies to optimize energy generation, distribution, and consumption.
 

Increasing demand for reliable and resilient energy solutions in remote or underserved areas, coupled with the rising frequency for grid outages and disruptions will boost the industry landscape. Supportive government policies and initiatives promoting renewable energy integration, grid modernization, and energy access will accelerate the product deployment. Advancements in digitalization, smart grid technologies, and energy storage systems are enhancing the efficiency, flexibility, and affordability of these solutions will drive the industry outlook.
 

Asia Pacific Grid Connected Microgrid Market Trends

Rise of distributed energy resources along with proliferation of electric vehicles will reshape the energy landscape. Growing focus on energy resilience and sustainability owing to climate change impacts will fuel the market growth. Furthermore, advancements in digitalization and IoT technologies will revolutionize grid management, enabling real-time monitoring, control, and optimization of microgrid operations which will strengthen the product penetration.
 

Asia Pacific Grid Connected Microgrid Market Analysis

Based on grid type, the AC grid segment exceed USD 20 billion by 2032. Rising demand for reliable and resilient power supply solutions, especially across urban areas will enhance the product adoption. Lower transmission losses compared to the DC grids makes them more efficient for transporting electricity over long distances in large and geographically diverse regions which will strengthen the industry landscape.
 

Based on power source, the diesel generators segment is set to grow at a CAGR of over 27% through 2032, owing to its easy application in remote or off-grid areas with unreliable grid connectivity. These generators remain indispensable due to their reliability, quick startup times, and ability to operate independently of weather conditions, accelerating product growth. Technological advancements have led to the development of more efficient and eco-friendly generators, addressing environmental concerns, associated with their use will propel the business scenario.
 

Asia-Pacific grid connected microgrid market size surpass USD 7 billion by 2032. Rapid urbanization and industrialization have led to soaring energy demand, prompting the adoption of microgrid solutions to ensure reliable electricity supply, particularly in remote or underserved regions will augment the industry landscape. Government initiatives promoting renewable energy integration and grid modernization have spurred investments in microgrid projects, aiming to enhance energy efficiency, reduce emissions, and achieve sustainability goals will drive the business outlook.
 

Asia Pacific Grid Connected Microgrid Market Share

Eminent market players are expanding their product portfolios to offer diverse microgrid solutions tailored to different customer needs and market segments. Additionally, they are investing in technological innovation to enhance the performance, reliability, and efficiency of systems. Strategic partnerships and collaborations with technology providers, utilities, and government agencies are also being leveraged to access new markets and drive innovation.
 

Asia Pacific Grid Connected Microgrid Market Companies

Eminent players operating in the Asia Pacific Grid Connected Microgrid industry are:

• Advanced Energy Industries
• ABB
• Emerson
• Eaton
• FlexGen
• General Electric
• Hitachi Energy Ltd.
• Lockheed Martin Corporation
• PowerSecure
• Princeton Power Systems
• S&C Electric Company
• Siemens AG
• Schneider Electric
• Tesla
• Tata Sons Private Limited
   

Asia Pacific Grid Connected Microgrid Industry News

• In March 2024, Energy Vault successfully integrated its first commercial EVx gravity-based energy storage system into China's grid, with construction ongoing for three more projects totaling 468MWh capacity. The Rudong project, sized at 25MW/100MWh, represents Energy Vault's debut in commercial grid-scale initiatives using its EVx gravity energy storage tech. This milestone, announced in late February, allows Energy Vault to commence full commissioning of the Rudong project, establishing its foothold as a key player in renewable energy storage.
   
• In March 2021, Delhi's Minister of Power, in partnership with Tata Power-DDL, inaugurated India's inaugural 'first grid-connected community energy storage system' in Delhi. While the battery system may be smaller compared to some global grid-scale systems, it delivers essential services to the local electricity grid and community.
   

This Asia Pacific grid connected microgrid market research report includes an in-depth coverage of the industry with estimates & forecast in terms of volume and revenue in “MW & USD Billion” from 2019 to 2032, for the following segments:

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Market, By Grid Type

• AC
• DC
• Hybrid

Market, By Power Source

• Diesel Generators
• Natural Gas
• Solar PV
• CHP
• Others

Market, By Storage Device

• Lithium-ion
• Lead Acid
• Flow Battery
• Flywheels
• Others

Market, By Application

• Healthcare
• Educational Institutes
• Military
• Utility
• Industrial/ Commercial
• Remote
• Others

The above information has been provided for the following countries:

• China
• Japan
• South Korea
• India
• Australia