Microgrid Market Size By Connectivity (Grid Connected, Off-Grid), By Grid Type (AC Microgrid, DC Microgrid, Hybrid), By Source (Diesel Generators, Natural Gas, Solar PV, CHP, Others), By Storage (Lithium-Ion, Lead Acid, Flow Batteries, Flywheel, Others), By Application (Healthcare, Educational Institutes, Military, Utility, Industrial/Commercial, Remote, Others), Industry Analysis Report, Regional Outlook, Application Potential, Competitive Market Share & Forecast, 2020 – 2026

Published Date: Dec 2019  |  Report ID: GMI1187  |  Authors: Ankit Gupta, Abhishek Chopra

Report Format: PDF   |   Pages: 440   |   Base Year: 2019




Summary Table of Contents Industry Coverage Methodology

Industry Trends

Microgrid Market size was valued at over USD 10 billion in 2019 and installation is anticipated to exceed 13 GW by 2026.
 

Microgrid Market

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Microgrids are localized group of interconnected loads and distributed energy resources which operates in connected and synchronous with the main power grid. These grids can also work in disconnected mode across off-grid and remote areas and function autonomously based on the economic and physical conditions. These are small scale localized power stations that have their own storage resource, generating plant and defined boundaries. The system can be powered by batteries, renewable sources and distributed generators based on the fuel requirement, application area and easy availability of generation source. The study features a detailed analysis of industry segmented into regional and country basis across educational institutes, healthcare, utility, military and emote applications. In addition, the market estimates & forecast are in line with data represented by various regulatory authorities including DOE, IEA, IDEA, USAID and associated company presentations and press releases.
 

Accelerating demand for reliable and uninterrupted power supply along with favorable measures toward integration of clean energy sources will stimulate the microgrid market growth. Increasing penetration of captive power generating sources on account of rapid industrial development across the remote areas. In addition, positive outlook toward electrification programs backed by government aided schemes and upsurge in awareness toward security of supply will provide opportunities for business expansion. Furthermore, declining component prices along with increasing investments toward integration of sustainable energy technologies will positively influence the industry dynamics. Rapid technological advancements toward the development of advanced energy storage systems, distributed power generating systems and software will complement the business outlook.
 

Microgrid Market Report Coverage
Report Coverage Details
Base Year: 2019 Market Size in 2019: 10 Billion (USD)
Historical Data for: 2015 to 2019 Forecast Period: 2020 to 2026
Forecast Period 2020 to 2026 CAGR: 23% 2026 Value Projection: 13 (GW)
Pages: 440 Tables, Charts & Figures: 832
Geographies covered (24): U.S., Canada, Mexico, Germany, France, UK , Russia, Spain, Italy, Denmark, China, Japan, South Korea, India, Australia, Indonesia, Brazil, Argentina, Chile, Saudi Arabia, UAE, South Africa, Iran, Nigeria
Segments covered: Connectivity, Grid Type, Source, Storage, Application
Companies covered (16): Eaton Corporation, Siemens Ag, GE Alstom, Schneider Electric SE, ABB, Caterpillar Inc, Homer Energy LLC, EnSync Energy Systems, Lockheed Martin Corporation, Hitachi, Honeywell International, Exelon Corporation, Toshiba Corporation, Advanced Microgrid Solutions, Viridity Energy, Inc, Tesla
Growth Drivers:
  • North America
    • Renewable energy integration
  • Europe
    • Integration of renewable energy technologies
  • Asia Pacific and Middle East & Africa
    • Growing demand for off grid electricity
    • Government program toward electrification
    • Increasing electricity demand
Pitfalls & Challenges:
  • High capital cost

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Shifting trends toward gas-based power generating systems will boost the natural gas fired microgrid industry trends

UK Microgrid Market By Power Source

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Policy transitions toward the integration of efficient and sustainable power generation sources will augment the natural gas-powered microgrid market demand. Sturdy increase in the global and domestic gas demand primarily for power generation has instituted a positive business scenario. In addition, strengthening of the economic & social rationale for the energy transition driven by concerns over fuel diversification has further reinforced an expansive industrial platform. Moreover, increasing competition from the U.S. shale gas boom and its expanding gas industry have further led nations to pursue investments in shale & tight gas projects, which, in turn, will nourish the technological adoption.
 

Grid connected is set to grow on account of ongoing deployment of renewable energy technologies

Ongoing expansion of utility-based grid infrastructure along with extensive deployment of sustainable energy technologies including solar, hydro, and wind energy has enhanced the development of grid tied systems. Low cost of energy storage, improved efficiency & resiliency and reduction in emissions are some of the key features which will boost the microgrid market share. These systems are being deployed in synchronization with main power grid and are being used to provide electricity across manufacturing, healthcare and commercial applications. Moreover, Asia Pacific and Europe are witnessing a significant growth on account of development of Tier II & III cities and shifting industrial base across developing nations. Extensive research & development activities along with technological innovations backed by government funded schemes will positively influence the business outlook.
 

European market size will witness considerable growth owing to favorable government policies focusing on decentralized energy storage system

Europe Microgrid Market Data By Storage

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The regulated European market have numerous parameters that enhance the development of these grids. The major focus in the region has been on large-scale renewable technology deployment including offshore wind, that requires significant investment in transmission infrastructure. The industry has been interwoven and the variability of renewable energy including solar and wind are primarily lean toward the cross-border energy trading. The deployment of distributed energy technologies on account of ongoing initiatives including FIT’s, tax rebate and other promotional schemes have further provided favorable opportunities for business expansion. In addition, technological advancement across clean energy sector along with stringent measures to reduce the dependency on conventional power generating systems will upsurge the microgrid market growth.
 

System integration across the value chain acts as a focal point for industry participants

The system integration companies play a critical role as they assemble, integrate, and deliver the final substation to the installers. These companies provide high-end services to their customers by providing more competitive prices for the integration and assembly of the system. The industry has been facing large investments from both public and private players to develop microgrids across the regions. Key players operating across the industry includes Siemens, Exelon, Schneider, Homer Energy LLC, ABB, Lockheed Martin, Caterpillar, Honeywell, Viridity Energy, EnSync and Advanced Microgrid Storage.
 

Microgrid market research report includes in-depth coverage of the industry with estimates & forecast in terms of MW, and ‘USD” from 2015 to 2026, for the following segments:
 

By Connectivity

  • Grid connected
  • Off-grid

By Grid Type

  • AC microgrid
  • DC microgrid

By Power Source

  • Diesel generator
  • Natural gas
  • CHP
  • Solar PV
  • Others

By Storage

  • Lithium-ion
  • Lead acid
  • Flow batteries
  • Flywheel
  • Others

By Application

  • Healthcare
  • Educational Institutes
  • Military
  • Utility
  • Industrial/Commercial
  • Remote
  • Others

The above information has been provided for the following regions and country:

  • North America
    • U.S.
    • Canada
    • Mexico
  • Europe
    • Germany
    • France
    • UK
    • Russia
    • Spain
    • Italy
    • Denmark
  • Asia Pacific
    • China
    • Japan
    • South Korea
    • India
    • Australia
    • Indonesia
  • Middle East & Africa
    • Saudi Arabia
    • UAE
    • South Africa
    • Iran
    • Nigeria
  • Latin America
    • Brazil
    • Argentina
    • Chile
       

Frequently Asked Questions (FAQ) :

microgrid market’s recorded worth was USD 10 bn in 2018.
In 2026, the microgrid industry is estimated to record a valuation of USD 38 bn.
Microgrids are localized group of interconnected loads and distributed energy resources which operates in connected and synchronous with the main power grid. These grids can also work in disconnected mode across off-grid and remote areas and function autonomously based on the economic and physical conditions.
Global microgrid industry will register over 23% CAGR from 2020 to 2026, according to a new report published by Global Market Insights, Inc.
Technological advancement across clean energy sector along with stringent measures to reduce the dependency on conventional power generating systems are the major factors fueling the European industry.

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Premium Report Details

  • Published Date: Dec 2019
  • Pages: 440
  • Tables: 798
  • Charts / Figures: 34
  • Companies covered: 16
  • Countries covered: 24

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