Microgrid Market Size

Microgrid Market Size

The global microgrid market was valued at USD 22.9 billion in 2024 and is set to register at a CAGR of 19.2% from 2025 to 2034, due to the rising demand for energy resilience, renewable adoption, and stricter environmental policies. Expanding investments by governments and organizations in greener energy initiatives to lower carbon emissions and achieve sustainability goals will further boost product demand.
 

Rising natural disasters frequency in various parts of the globe resulting in power grid failures create a higher demand for resilient energy systems to ensure continuous power supply during emergencies, particularly for critical infrastructure facilities, thereby boosting product adoption. Growing advancements in smart grid technology, energy management software and energy storage system aimed at improving microgrid scalability and efficiency will enhance the business landscape. Furthermore, increasing incorporation of AI and IoT technologies to make predictive maintenance, real-time monitoring, and energy optimization in microgrid systems much easier will enhance industry growth.