Mini Grid Market
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The global mini grid market size was valued at USD 13.1 billion in 2024 and is estimated to grow at a CAGR of 13.2% from 2025 to 2034. It is a small, localized energy system that can operate independently or in conjunction with the main power grid. It typically uses renewable energy sources such as wind, solar or hydro, combined with energy storage, to provide power to off-grid or remote areas. Mini grids offer a reliable and resilient energy supply, supporting communities, businesses, and essential services, especially where conventional grid infrastructure is unavailable or unreliable.
Rising demand for power in off-grid and rural communities where extending the main grid is not economically feasible will drive the product adoption. The IEA has published approximately that 770 million people, mostly in sub-Saharan Africa and South-East Asia, still lack access to electricity. Such an energy barrier can be partly alleviated by the use of mini grids based on wind, solar or biomass. Growing transitions towards renewable sources of power in mini grids for the purpose of meeting international green energy targets and curbing dependence on conventional fuels will enhance the business statistics.
| Report Attribute | Details |
|---|---|
| Base Year: | 2024 |
| Mini Grid Market size in 2024: | USD 13.1 Billion |
| Forecast Period: | 2025 - 2034 |
| Forecast Period 2023 - 2032 CAGR: | 13.2 |
| 2023 Value Projection: | USD 45.1 Billion |
| Historical Data for: | 2021 – 2024 |
| No of Pages: | 110 |
| Tables, Charts & Figures: | 35 |
| Segments Covered: | Fuel, Storage Device, Consumer Type and Region |
| Growth Drivers: |
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| Pitfalls Challenges: |
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Growing demand for stable and independent power supply, ensuring resilience against grid failures, natural disasters, or other disruptions will augment the product adoption. Rising investments in developing modern storage solutions and smart grid technologies with improved efficiency and scalability will strength the product penetration.
Increasing government investments in renewable energy infrastructure and policy to support mini grids a viable solution for energy access and security will uplift the business landscape. Furthermore, rising climate change and a shift towards sustainability by reducing greenhouse gas emissions and enhancing energy independence, aligning with global sustainability targets will complement the industry scenario.
Based on fuel, the solar segment is anticipated to reach more than USD 28 billion by 2034, due to its abundance, especially in regions with high sunlight exposure, making it an ideal fuel for mini grids, particularly in off-grid or rural areas. Increasing adoption of cost-effective fuels due to advancements in technology and economies of scale will propel solar adoption. Furthermore, rising demand for fuels offering environmental benefits with reduced carbon emissions, aligning with global sustainability and climate change mitigation efforts will foster the business outlook.
Based on storage device, the Lithium-ion segment is set to grow at a CAGR of over 13.7% through 2034 on account of its ability to store high energy density, meaning it can store more energy in a smaller, lighter form, making it ideal for mini grids with limited space for storage. Increasing demand for highly efficient storage devices with lower energy losses during charging and discharging will complement the market growth. Furthermore, these batteries have a longer cycle life, reducing the need for frequent replacements and lowering long-term operational costs for mini grids leading to improve the industry statistics.
The China mini grid market is likely to exceed USD 11 billion by 2034. Presence of abundant solar and wind resources including China holding one third of the world's solar power capacity in line with growing rural electrification initiatives aimed at providing clean and affordable electricity to underserved regions will complement the business outlook. Rising investments in renewable energy and mini grid technologies as part of its strategy to attain energy security, reduce carbon emissions, and promote sustainable development in remote locations will enhance the product growth.
In Africa, growing private sector involvement in mini grid projects across Africa, with international investors, such as venture capitalists and renewable energy companies, funding the development of mini grid networks will complement the business scenario. Rising electricity access gaps, with large portions of the population, particularly in remote areas, lacking reliable power will create lucrative opportunities for product deployment.
Eminent players, governments, NGOs, and local communities are collaborating to secure funding and align with rural electrification goals. Leading companies are broadening their product offerings by incorporating renewable energy sources, energy storage solutions, and cutting-edge control technologies. Their goal is to develop all-encompassing mini grid systems tailored for both rural and industrial uses. Regions including Southeast Asia and Sub-Saharan Africa, home to substantial off-grid populations, are becoming focal points for companies. By crafting solutions that resonate with local energy demands and climate nuances, these firms are carving a niche in these markets.
Eminent players operating in the mini grid industry are:
Market, By Storage Device
Market, By Consumer Type
The above information has been provided for the following regions and countries:
Key players in the mini grid industry include Central Electronics Limited, ENGIE, Greenage Africa, GSOL Energy, Husk Power Systems, Nuru SASU, OMC Power, PowerGen Renewable Energy, Solar Philippines, and Zola Electric.
The China mini grid market is anticipated to grow by over USD 11 billion by 2034, fueled by rising investments in renewable energy and mini grid technologies to enhance energy security and promote sustainable rural development.
The global mini grid industry was valued at USD 13.1 billion in 2024 and is projected to grow at a CAGR of 13.2% from 2025 to 2034, driven by the increasing demand for renewable energy solutions in off-grid and remote areas.
Solar energy in the mini grid industry is expected to exceed USD 28 billion by 2034, supported by its abundance in high-sunlight regions and advancements in cost-effective technologies.