Microgrid Market Overview

The global Microgrid market is estimated to expand at 12.10% CAGR during the forecast period.

A microgrid is a small-scale power supply network designed to provide power for a relatively small group of end-users. It consists of interconnected loads and distributed energy resources within clearly defined electrical boundaries that act as a single controllable entity with respect to the main grid. Moreover, microgrids can function when connected to the main grid as well as when they are not connected to the main grid and act as an electrical island.

Increasing demand for reliable and secured power supply, government initiatives to reduce carbon footprint, widespread industrialization and population growth fueling demand for energy storage systems, convergence of IoT in enhancing microgrid connectivity, and benefits of clean and reasonable energy, drive the market. Utilities, across the globe consider microgrids a building block for a smart grid and focus on microgrid R&D as a key focus area.

Get Free Sample Copy @ https://www.marketresearchfuture.com/sample_request/2215

Industry Segmentation

The microgrid market has been segmented based on type into grid connected and off-grid. Among these types, off-grid is both, the fastest growing and the largest segment in the microgrid market due to the increased use of renewable energy resources. Also, increasing small-scale energy resources as solar arrays and batteries, utilities are planning for dramatic transformation in a way to produce more energy while increasing the reliability and efficiency.

Regional Outlook

Region wise, North America held the largest market share of the global microgrid market in 2017. It is estimated that North America would be the largest market during the forecast period. The global planned and completed microgrid capacity stands at capacity of 3.8 GW, of which more than 2.5 GW of microgrid capacity is in North America.

Leading Players

The key players of global Microgrid market are ABB (Switzerland), GE (US), Eaton (Ireland), Schneider Electric (France), Honeywell (US), Exelon Corporation (US), S&C Electric (US), Power Analytics Corporation (US), Siemens (Germany), and Microgrid Energy LLC (US), among others.

Scope of the Report

This research report provides insights into various levels of analysis, such as industry analysis and market share analysis for the leading industry competitors, along with their profiles. It also helps study the target segments by providing views on the emerging & high-growth segments. The market data comprises the basic assessment of the competitive scenarios and strategies in the global Microgrid market, including high-growth regions and/or countries, and political and economic environments. The project report further provides both – historical market values and pricing & cost analysis

About Market Research Future:

At Market Research Future (MRFR), we enable our customers to unravel the complexity of various industries through our Cooked Research Report (CRR), Half-Cooked Research Reports (HCRR), Raw Research Reports (3R), Continuous-Feed Research (CFR), and Market Research & Consulting Services.