Europe Grid Connected Microgrid Market Analysis

Europe Grid Connected Microgrid Market Analysis

Based on grid type, AC grid segment is likely to cross more than USD 8.5 billion by 2032. Its interconnection features with the existing grid infrastructure, enabling bi-directional power flow and facilitating the exchange of electricity between the microgrid and the main grid is a significant factor driving the business outlook. Furthermore, rising demand for grids with scalability and flexibility to adapt to changing energy requirements, optimize energy management, and support the integration of emerging technologies will augment the industry landscape.
 

Based on power source, the Solar PV segment is set to grow at a CAGR of over 16.8% through 2032. The declining costs of these power sources coupled with advancements in technology and economies of scale are making them increasingly cost-competitive compared to traditional sources, will strengthen the product demand. Furthermore, rising requirement for sources with energy security and enhanced resilience during grid outages, natural disasters, or other emergencies will stimulate the business statistics.
 

France grid connected microgrid market is projected to surpass USD 2.9 billion by 2032. Rising implementation of ambitious renewable energy policies and initiatives including the Energy Transition for Green Growth Law and the Multiannual Energy Program (PPE) to comply with renewable energy targets and provide incentives will influence the grid technology deployment. Furthermore, growing energy demand from various sectors is driving the demand for reliable, efficient, and sustainable energy solutions will boost the business landscape.
 

Extreme climatic conditions, grid outages, and natural disasters in the U.S. in the recent years has improved the demand for resilient and reliable energy infrastructure thereby boosting the product deployment. Rising advancements in the field of energy storage, smart grid technologies, and microgrid controls by key players is set to strengthen the product penetration across various applications including military installations, universities, hospitals, and communities.