Home > Energy & Power > Renewable Energy > Microgrid > Asia Pacific Grid Connected Microgrid Market

Asia Pacific Grid Connected Microgrid Market Trends

Report ID: GMI8679
Published Date: Mar 2024
Report Format: PDF

Download Free Sample

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.

Authors: Ankit Gupta, Pooja Shukla

Frequently Asked Questions (FAQ) :

Asia Pacific market for grid connected microgrid was reached USD 4.2 billion in 2023 and is set to expand 27.7% CAGR from 2024 to 2032, driven by the increasing demand for reliable and resilient energy solutions in remote or underserved areas, coupled with the rising frequency of grid outages and disruptions.

Asia Pacific grid connected microgrid market from the diesel generators segment is poised to witness over 27% CAGR between 2024 and 2032, owing to its easy application in remote or off-grid areas with unreliable grid connectivity.

Asia Pacific grid connected microgrid market from the AC grid segment is expected to generate over USD 20 billion by 2032, owing to the rising demand for reliable and resilient power supply solutions, especially across urban areas.

Few prominent grid connected microgrid firms in Asia Pacific 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, and Tata Sons Private Limited.