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DC Microgrid Market Analysis

  • Report ID: GMI9760
  • Published Date: Jun 2024
  • Report Format: PDF

DC Microgrid Market Analysis

Based on connectivity, the grid connected segment is anticipated to reach more than USD 24 billion by 2032, on an account of their seamless integration, thereby allowing easier deployment and operation within established electrical systems, minimizing disruptions and maximizing compatibility. The connectivity offers various grid services and ancillary benefits including frequency regulation, voltage support, peak shaving, and demand response, enhancing grid stability and reliability thereby improving industry growth.

Furthermore, increasing adoption of distributed energy resources, such as solar PV systems and energy storage is set to influence product adoption to enable DER owners to leverage their assets more effectively, integrate with the grid, and participate in energy markets, unlocking additional value.

DC Microgrid Market Share, By Storage Device, 2023

Based on storage device, the flow battery segment is set to grow at a CAGR of over 23% through 2032 due to their scalability and modular design, allowing for flexible capacity expansion according to the energy storage requirements of DC applications. Increasing demand for storage device offering high round-trip efficiency and energy density compared to other energy storage technologies coupled with long-duration energy storage to enhance the resilience and reliability of systems will boost the business growth. Furthermore, their excellent flexibility in charge and discharge rates, allowing for rapid response to fluctuating energy demand and supply within systems are additional factors propelling industry statistics.

Asia Pacific DC Microgrid Market Size, 2022-2032 (USD Billion)

Asia Pacific DC microgrid market is predicted to hit USD 18 billion by 2032. Rapid urbanization and industrialization in the region are increasing energy demand and strain on existing grid infrastructure thereby fostering product demand which offers a scalable and efficient solution for meeting this growing demand, especially in densely populated urban areas and industrial clusters. Expanding renewable energy capacity, particularly solar and wind power is propelling the market growth to facilitate the integration of these variable renewable energy sources by eliminating the need for AC-DC conversion, thereby reducing energy losses and enhancing grid stability.

In the U.S., increasing challenges related to grid resilience, reliability, and aging infrastructure are set to augment the product penetration. Country rising transition towards clean energy, driven by climate change mitigation efforts, environmental concerns, and declining renewable energy costs will drive the business growth.

Authors: Ankit Gupta, Pooja Shukla

Frequently Asked Questions (FAQ) :

The market size of DC microgrid was crossed USD 6 billion in 2023 and is anticipated to grow at 20.3% CAGR from 2024 to 2032 owing to the rising demand for reliable and resilient power supply.

The grid connected segment in the DC microgrid market will register USD 24 billion by 2032 on an account of their seamless integration, allowing easier deployment and operation within established electrical systems.

Asia Pacific DC microgrid market size is anticipated to exceed USD 18 billion by 2032, attributed to rapid urbanization and industrialization.

AEG International, ARDA Power, ABB, Eaton Corporation, Enel X, EnSync Energy Systems, Hitachi Energy, PowerSecure, Inc., Schneider Electric SE, SolarWorX, Sumitomo Electric Industries, Ltd, and Schaltbau Group

DC Microgrid Market Scope

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Premium Report Details

  • Base Year: 2023
  • Companies covered: 12
  • Tables & Figures: 20
  • Countries covered: 18
  • Pages: 90
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