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Grid Connected Microgrid Market Trends

Report ID: GMI8265
Published Date: Feb 2024
Report Format: PDF

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Grid Connected Microgrid Market Trends

Rising demand for resilient energy solutions owing to increasing concerns over grid reliability will stimulate the business landscape. Advancements in smart grid management systems and energy storage solutions coupled with growing government incentives and policies supporting clean energy adoption will fuel the market growth. However, growing urban microgrid deployments catering to the energy needs of densely populated areas by improving energy access in the environment will strengthen product penetration.

Authors: Ankit Gupta, Pooja Shukla

Frequently Asked Questions (FAQ) :

The market size of grid connected microgrid was reached USD 12.8 billion in 2023 and is anticipated to record about 20.4% CAGR through 2032, driven by rising requirement for enhanced energy reliability, resilience, and sustainability.

AC grid segment held a market share of around 51% in 2023 and will grow significantly through 2032, attributed to increasing demand for reliable and resilient power supply solutions.

Asia Pacific grid connected microgrid market revenue to cross USD 39 billion by 2032, owing to increasing energy demand, rapid urbanization, and the need for reliable power infrastructure.

ABB, Advanced Energy Industries, Eaton, Emerson, FlexGen, General Electric, Heila Technologies, Hitachi Energy Ltd., Lockheed Martin Corporation, Princeton Power Systems, PowerSecure, Schneider Electric, S&C Electric Company, Siemens AG and Tesla