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Pulished Date August, 2021
ID: 12012
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Microgrid Market segmentation by Connectivity (Grid Connected and Off-grid Connected), by Offering (Hardware, Software, and Services), by Type (AC Microgrids, DC Microgrids and Hybrid), by patterns (Urban/Metropolitan, Semiurban and Rural/Island), by End User (Utilities, Commercial & Industrial, Institutes & Campuses, Military, Remote, Government, and Healthcare)Global Industry Analysis, Market Size, Share, Growth, Trends and Forecast 2021-2026

Pulished: August, 2021
ID: 12012
Pages: 175

Microgrid Market Size & Growth Analysis (2021-2026)

The global microgrid market is projected to grow at a CAGR of 11.54% during the forecast period 2021-2026 to reach USD 42.3 billion by 2026 from USD 24.6 billion in 2021.

A microgrid consists of interconnected loads and distributed energy resources that is a distinct energy system. These systems are capable of operating in independently from the main power grid. Microgrids are mini version of the power grids that supply electricity to the consumers from producers. In emergency situations, the microgrid systems can provide back up for the grid. These systems are highly efficient when compared with the traditional electrical grids. Microgrid utilize the inexhaustible sources like sun oriented, wind power, little hydro, geothermal, squander to-energy and combined heat and power (CHP) systems. Major benefit with the microgrid systems is that they can powered by batteries, distributed generators or solar panels. At the time of power outrages, microgrid can operate continuously as they are reliable source of electricity.

Recent Developments:

  • In April 2021, EconiQ was launched by Hitachi ABB Power Grids. The company is stepping towards a carbon neutral energy future. The products launched by this company are proven to have excellent environmental performance. This enables the market portfolio.
  • In April 2021, Hitachi ABB Power Grids Ltd and GE Renewable Energy’s Grid Solutions business made an agreement to use an alternative gas used in the high voltage equipment. These companies agreed to share intellectual property related to sulfur heaxaflouride (SF)-6 free solutions.
  • In April 2021, new Sentron 3NA COM LV HRC was launched by Siemens Smart Infrastructure that has integrated communication and functionality.
  • In March 2021, Ellevio, Sweden’s second-largest company and Siemens made announced that they together deliver  new grid control system that will be very efficient for its distribution network.
  • In May 2021, Windtel a Poland based construction company ordered high-voltage grid connection for the 65 MW from Hitachi ABB Power Grids Ltd.

Drivers and Restraints of Microgrid Market:

Drivers: 

Rising industrialization and growing prevalence to have uninterrupted supply of electricity even in the rural areas are mainly driving the demand of the microgrid market. Focus on decarbonization by various industries is promoting the growth rate of the market tremendously. There is quite increasing support from the government bodies to adopt microgrid systems to decrease the cyberattacks on energy infrastructure is additionally promoting the demand of the microgrid market. There is a huge demand to adopt reliable power supply in many industries. From many years, ‘bigger is better’ philosophy for electric power supply is followed in emerging countries. Trend towards increasing electric power outages in developed countries like US is greatly influencing the market shares towards positive. Rising number of natural calamities and growing need to have back up power grid is enhancing the demand of the market.

Restraints:

The cost to install the microgrid is very high where small scale industries cannot afford is slightly hindering the growth rate of the market. The underlying expense for establishment and support of the microgrid is about 25%-30% higher than conventional power networks. Lack of skilled professionals to deploy new technologies act as a barrier for the growth of the microgrid market.

Stringent rules and regulations by government in approving new techniques is hampering the demand of the microgrid market.

Microgrid Market Segmentation:

Microgrid Market - By Connectivity

  • Off-grid Connected
  • Grid Connected

Grid connected segment is leading with the highest shares of the market. Grid connected microgrids have multiple advantages as they are comprised with multiple generators, distribution systems, and sophisticated controls.

Microgrid Market - By Offering

  • Software
  • Hardware
  • Services

Software segment is expected to hit the highest CAGR in the coming years where as hardware segment is to have the highest shares.

Microgrid Market - By Type

  • DC Microgrids
  • AC Microgrids
  • Hybrid

Hybrid type is leading with the dominant shares of the market.

Microgrid Market - By Patterns

  • Urban/Metropolitan
  • Semiurban
  • Rural/Island

Urban/metropolitan segment is ruling with the dominant shares of the market due to the rising economy.

Microgrid Market - By End Use

  • Utilities
  • Remote
  • Commercial & Industrial
  • Institutes & Campuses
  • Military
  • Government
  • Healthcare

Microgrid Market Region wise analysis:

North America is leading with the highest shares of the microgrid market. Increasing investments on the power grids by government authorities is enhancing the demand of the market. Also, growing urbanization and increasing industries are ascribed to bolster the demand of the microgrid market.

Europe is following North America in leading the significant shares of the microgrid market. Introduction of new systems with latest technologies is certainly a major factor for the market to grow eventually. Creating awareness over digital platform is greatly enhancing the growth rate of the market.

Asia Pacific is projected to hit the most elevated CAGR soon. Rising scale of industries that has wide usage of electricity is common factor that leveraging the demand of the market. Also, rising economy in emerging countries like India, China and others is likely to fuel the growth rate of the market. Penetration of the distributed energy resources to promote industrial areas is flourishing the demand of the market. Along with this, favorable government norms toward construction and others is elevating the demand of the microgrid market.

Latin America and Middle East & Africa are expected to have steady growth rate in the coming years.

Key Players of Microgrid Market: 

ABB (Switzerland)

Schneider Electric (France)

Honeywell (US)

HOMER Energy (US)

S&C Electric (US)

General Electric (US)

Siemens (Germany)

Eaton Corporation (Ireland)

Power Analytics (US)

Exelon Corporation (US)

Pareto Energy (US)

General MicroGrids (US)

Anbaric Transmission (US)

Tesla (US)

Spirae (US)

Gram Power (US)

Powerhive (US)

Advanced Microgrid Solutions (US)

Go Electric (US)

DAJIE (UK)

Canopy Power (Singapore)

Green Energy Corp (US)

PowerSecure

A subsidiary of Southern Company (US)

Viridity Energy by Ormat Technologies (US)

Ferroamp (Sweden)

The impact of COVID-19 in Microgrid market:

The sudden outburst of the COVID 19 effected the global economy in unprecedented ways. Lockdown restrictions and norms on the movement of flights decreased the shares of the market. The key players have manufacturing facilities and other applications in various parts of the world that completely disrupted to the COVID 19. Almost all the industries were halted due to pandemic where there is very less demand for the microgrid systems. Delay in projects and decreased export shipments slowly degraded the shares of the microgrid market. However, from 2021, the market shares started to rise with the unlock guidelines released by government in every country. The microgrid market is expected to reach the highest shares as expected by the end of the 2021.

1. Introduction                            

          1.1 Market Definition                  

          1.2 Scope of the report               

          1.3 Study Assumptions               

          1.4 Base Currency, Base Year and Forecast Periods              

2. Research Methodology                      

          2.1 Analysis Design          

          2.2 Research Phases                   

                    2.2.1 Secondary Research 

                    2.2.2 Primary Research     

                    2.2.3 Data Modelling        

                    2.2.4 Expert Validation     

          2.3 Study Timeline            

3. Report Overview                     

          3.1 Executive Summary               

          3.2 Key Inferencees          

4. Market Dynamics                    

          4.1 Impact Analysis           

                    4.1.1 Drivers

                    4.1.2 Restaints       

                    4.1.3 Opportunities 

          4.2 Regulatory Environment                  

          4.3 Technology Timeline & Recent Trends                  

5. Competitor Benchmarking Analysis                        

          5.1 Key Player Benchmarking                 

                    5.1.1 Market share analysis         

                    5.1.2 Products/Service      

                    5.1.3 Regional Presence    

          5.2 Mergers & Acquistion Landscape               

          5.3 Joint Ventures & Collaborations                 

6. Market Segmentation                        

          6.1 Microgrid Market, By Type               

                    6.1.1 DC Microgrids         

                    6.1.2 AC Microgrids

                    6.1.3 Hybrid 

                    6.1.4 Market Size Estimations & Forecasts (2021-2026)        

                    6.1.5 Y-o-Y Growth Rate Analysis         

                    6.1.6 Market Attractiveness Index         

          6.2 Microgrid Market, By Offering          

                    6.2.1 Software        

                    6.2.2 Hardware       

                    6.2.3 Services         

                    6.2.4 Market Size Estimations & Forecasts (2021-2026)        

                    6.2.5 Y-o-Y Growth Rate Analysis         

                    6.2.6 Market Attractiveness Index         

          6.3 Microgrid Market, By Patterns          

                    6.3.1 Urban/Metropolitan  

                    6.3.2 Semiurban     

                    6.3.3 Rural/Island   

                    6.3.4 Market Size Estimations & Forecasts (2021-2026)        

                    6.3.5 Y-o-Y Growth Rate Analysis         

                    6.3.6 Market Attractiveness Index         

          6.4 Microgrid Market, By End Use          

                    6.4.1 Utilities

                    6.4.2 Remote         

                    6.4.3 Commercial & Industrial     

                    6.4.4 Institutes & Campuses        

                    6.4.5 Military

                    6.4.6 Government   

                    6.4.7 Healthcare     

                    6.4.8 Market Size Estimations & Forecasts (2021-2026)        

                    6.4.9 Y-o-Y Growth Rate Analysis         

                    6.4.10 Market Attractiveness Index       

          6.5 Microgrid Market, By Connectivity              

                    6.5.1 Off-grid Connected  

                    6.5.2 Grid Connected        

                    6.5.3 Market Size Estimations & Forecasts (2021-2026)        

                    6.5.4 Y-o-Y Growth Rate Analysis         

                    6.5.5 Market Attractiveness Index         

7. Geographical Landscape                    

          7.1 Global Identity Governance and Administration Market, by Region                   

          7.2 North America - Market Analysis (2021 - 2026)             

                    7.2.1 By Country     

                              7.2.1.1 USA

                              7.2.1.2 Canada

                    7.2.2 By Type         

                    7.2.3 By Offering    

                    7.2.4 By Patterns    

                    7.2.5 By End Use    

                    7.2.6 By Connectivity        

          7.3 Europe             

                    7.3.1 By Country     

                              7.3.1.1 UK

                              7.3.1.2 France

                              7.3.1.3 Germany

                              7.3.1.4 Spain

                              7.3.1.5 Italy

                              7.3.1.6 Rest of Europe

                    7.3.2 By Type         

                    7.3.3 By Offering    

                    7.3.4 By Patterns    

                    7.3.5 By End Use    

                    7.3.6 By Connectivity        

          7.4 Asia Pacific                 

                    7.4.1 By Country     

                              7.4.1.1 China

                              7.4.1.2 India

                              7.4.1.3 Japan

                              7.4.1.4 South Korea

                              7.4.1.5 South East Asia

                              7.4.1.6 Australia & NZ

                              7.4.1.7 Rest of Asia-Pacific

                    7.4.2 By Type         

                    7.4.3 By Offering    

                    7.4.4 By Patterns    

                    7.4.5 By End Use    

                    7.4.6 By Connectivity        

          7.5 Latin America             

                    7.5.1 By Country     

                              7.5.1.1 Brazil

                              7.5.1.2 Argentina

                              7.5.1.3 Mexico

                              7.5.1.4 Rest of Latin America

                    7.5.2 By Type         

                    7.5.3 By Offering    

                    7.5.4 By Patterns    

                    7.5.5 By End Use    

                    7.5.6 By Connectivity        

          7.6 Middle East and Africa          

                    7.6.1 By Country     

                              7.6.1.1 Middle East

                              7.6.1.2 Africa

                    7.6.2 By Type         

                    7.6.3 By Offering    

                    7.6.4 By Patterns    

                    7.6.5 By End Use    

                    7.6.6 By Connectivity        

8. Key Player Analysis                           

          8.1 ABB (Switzerland)                  

                    8.1.1 Business Description

                    8.1.2 Products/Service      

                    8.1.3 Financials      

                    8.1.4 SWOT Analysis         

                    8.1.5 Recent Developments         

                    8.1.6 Analyst Overview      

          8.2 Schneider Electric (France)               

          8.3 Honeywell (US)           

          8.4 HOMER Energy (US)               

          8.5 S&C Electric (US)                   

          8.6 General Electric (US)             

          8.7 Siemens (Germany)               

          8.8 Eaton Corporation (Ireland)             

          8.9 Power Analytics (US)             

          8.10 Exelon Corporation (US)                

9. Market Outlook & Investment Opportunities                     

Appendix                         

          List of Tables          

          List of Figures                  

  • Global, Regional and country-level analysis and forecasts of the study market; providing Insights on the major countries/regions in which this industry is blooming and to also identify the regions that are still untapped
  • The segment-level analysis in terms of by type, by application, by end-user, along with market size forecasts and estimations to detect key areas of industry growth in detail
  • Identification of key drivers, restraints, opportunities, and challenges (DROC) in the market and their impact on shifting market dynamics
  • Study of the effect of exogenous and endogenous factors that affect the global market; which includes broadly demographics, economics, and political, among other macro-environmental factors presented in an extensive PESTLE Analysis
  • Study the microenvironment factors that determine the overall profitability of an Industry, using Porter’s five forces analysis for analyzing the level of competition and business strategy development
  • A comprehensive list of key market players along with with their product portfolio, current strategic interests, key financial information, legal issues, SWOT analysis and analyst overview to study and sustain the market environment
  • Competitive landscape analysis listing out the mergers, acquisitions, collaborations in the field along with new product launches, comparative financial studies and recent developments in the market by the major companies
  • An executive summary, abridging the entire report in such a way that decision-making personnel can rapidly become acquainted with background information, concise analysis, and main conclusions
  • Expertly devised analyst overview along with Investment opportunities to provide both individuals and organizations a strong financial foothold in the market
  1. Global Microgrid Market By Region, From 2021-2026 ( USD Billion )
  2. Global Microgrid Market By Type, From 2021-2026 ( USD Billion )
  3. Global DC Microgrids  Market By Region, From 2021-2026 ( USD Billion )
  4. Global AC Microgrids Market By Region, From 2021-2026 ( USD Billion )
  5. Global Hybrid Market By Region, From 2021-2026 ( USD Billion )
  6. Global Microgrid Market By Offering, From 2021-2026 ( USD Billion )
  7. Global Software Market By Region, From 2021-2026 ( USD Billion )
  8. Global Hardware Market By Region, From 2021-2026 ( USD Billion )
  9. Global Services Market By Region, From 2021-2026 ( USD Billion )
  10. Global Microgrid Market By Patterns, From 2021-2026 ( USD Billion )
  11. Global Urban/Metropolitan Market By Region, From 2021-2026 ( USD Billion )
  12. Global Semiurban Market By Region, From 2021-2026 ( USD Billion )
  13. Global Rural/Island Market By Region, From 2021-2026 ( USD Billion )
  14. Global Microgrid Market By End Use, From 2021-2026 ( USD Billion )
  15. Global Utilities Market By Region, From 2021-2026 ( USD Billion )
  16. Global Remote  Market By Region, From 2021-2026 ( USD Billion )
  17. Global Commercial & Industrial Market By Region, From 2021-2026 ( USD Billion )
  18. Global Institutes & Campuses Market By Region, From 2021-2026 ( USD Billion )
  19. Global Military Market By Region, From 2021-2026 ( USD Billion )
  20. Global Government Market By Region, From 2021-2026 ( USD Billion )
  21. Global Healthcare Market By Region, From 2021-2026 ( USD Billion )
  22. Global Microgrid Market By Connectivity, From 2021-2026 ( USD Billion )
  23. Global Off-grid Connected Market By Region, From 2021-2026 ( USD Billion )
  24. Global Grid Connected Market By Region, From 2021-2026 ( USD Billion )

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