World Microgrid Market - Opportunities and Forecasts, 2020-2027
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A00439
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May 2020 |
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Microgrids generate power, and in doing so reduce dependence on long distance transmission lines and cut transmission losses. The microgrid is a combination of technologies such as electricity generation, transmission and distribution and is used on a small scale as compared to the conventional macrogrid. It performs functions such as adding or removing new energy resources without modifying existing components. The microgrid market is significantly driven by the use of localized sources for power generation, fewer line losses and the increasing popularity of microgrids in commercial, military and industrial applications. The launch of dozens of successful pilot programs globally, declining costs of photovoltaic (PV) materials and scarcity of electricity in developing countries are creating opportunities for the microgrid market. Key players in this market are Pareto Energy Ltd., Viridity Energy, Encorp Inc., and Power Analytics Corp.
This market can be segmented on the basis of technology, characteristics, application and geography. Technology is further segmented according to components and technology trends. According to characteristics, the market is segmented into hybrid, grid connected and off-grid. On the basis of application it is divided into commercial/industrial microgrid, Military microgrid and Institutional microgrid. Geographically, the market is segmented into North America, Europe, Asia Pacific and LAMEA. The microgrid market is expected to witness substantial growth in countries such as South Africa, Brazil, China, Russia and India.
KEY BENEFITS
- In-depth analysis of the microgrid market which would help stakeholders to better understand market behavior
- Based on the current market scenario and expected market trends, estimations through 2014-2020 are made to showcase the future prospects of the microgrid market
- The report provides information regarding key drivers, restraints and opportunities with impact analysis
- Analysis of the key strategies adopted by major players operating in the market is provided
- Porter’s Five Forces model and SWOT analysis would provide insights regarding current market conditions and important factors and thereby help stakeholders in making strategic decisions
- Market segmentation by product design and geography would enable a deeper understanding of the current market scenario
MARKET SEGMENTATION
The market is segmented on the basis of technology, characteristics, application and geography.
MARKET BY TECHNOLOGY
- Components Trend
- Batteries
- Flywheels and Super Capacitors in Storage System
- PV Inverter
- Smart Meter
- Electrical Switch Gears
- Technology Trend
- CHP Technologies-Microturbine
- Reciprocating Engine
MARKET BY CHARACTERISTICS
- Hybrid
- Grid Connected
- Off-Grid
MARKET BY APPLICATION
- Commercial/Industrial Microgrid
- Community/Utility Microgrid
- Military Microgrid
- Institutional/Campus Microgrid
- Others
MARKET BY GEOGRAPHY
- North America
- Europe
- Asia Pacific
- LAMEA
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