Asia Pacific Microgrid Market Analysis

Asia Pacific Microgrid Market Analysis

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Based on connectivity, the grid connected microgrid segment dominate the market and is expected to cross over USD 39.2 billion by 2032. By balancing local energy generation and demand with the support of the main power grid, these systems offer access to continuous electricity and ancillary services. Moreover, resilience of grid-connected microgrids against disruptions, coupled with supportive government policies, further bolsters their significant market share in the region.

Based on Grid type, the AC microgrid will grow at a rate of over 27% through 2032. The product capability to combined with easy integration of various distributed energy resources, lower power conversion losses, and scalability, makes AC microgrids a preferred choice in the region. Established standards and regulations further support their adoption, ensuring safety and reliability.

The China microgrid market is projected to surpass USD 25.3 billion by 2032 is diverse and expansive, with several countries actively investing in microgrid development. The advancing economic scenario on account of rapid commercialization and investments across the industrial and utility-based electrification systems has also instituted a favourable business scenario. Over the coming years, the shifting trend from centralized grid systems to decentralized grid network along with government measures for the expansion of utility infrastructure across remote and island areas will nourish the industry growth.