Microgrids Market: Global Opportunity Analysis and Industry Forecast, 2020–2027
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A00439
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Aug 2020 |
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COVID-19
Pandemic disrupted the entire world and affected many industries.
Get detailed COVID-19 impact analysis on the Microgrids Market: Global Opportunity Analysis And Industry Forecast, 2020–2027 Market
Request Now !A microgrid is a localized group of electricity sources and loads that is synchronized with the major traditional power grid. Microgrid in the island mode can be disconnected from the major grid and operated autonomously. Microgrid, also known as small-scale power grid, can be combined with various renewable solar, wind powered, and waste-to-energy sources. Moreover, they can be powered by batteries or solar panels. Microgrids connected to main power source are more reliable source of electricity, as these make power grid less susceptible to localized disaster.
Market scope and structure analysis
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Report Metric |
Details |
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Market size available for years |
2019–2027 |
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Base year considered |
2019 |
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Forecast period |
2020–2027 |
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Forecast unit |
Value (USD) |
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Segments covered |
Connectivity, Power Sources, Power Storage, Application, and Region |
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Regions covered |
North America (U.S. and Canada), Europe (Germany, UK, France, and the Rest of Europe), Asia-Pacific (China, Japan, India, and the Rest of Asia-Pacific), and LAMEA (Brazil, Saudi Arabia, South Africa, and Rest of LAMEA |
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Companies covered |
Lockheed Martin, ABB Ltd., General Electric, Eaton Corporation, Siemens, Exelon Corporation, S&C Electric, Microgrid Energy LLC, Schneider Electric, and Honeywell |
COVID-19 scenario analysis
The outbreak of the COVID-19 pandemic has negatively impacted the global microgrids to a notable extent.
- Owing to the lockdown imposed in different countries, the requirement of power has declined drastically, as most of the industrial and commercial operations have halted.
Top impacting factors: market scenario analysis, trends, drivers, and impact analysis
Increase in demand for reliable and uninterrupted power supply coupled with integration of clean and renewable energy sources in local power grid has led to the growth of microgrid market. In addition, industry players across different countries are investing significantly in the development of infrastructure to provide low cost and clean electricity in remote areas, thus fueling the demand. However, high installation cost of microgrids and lack of regulatory frameworks for microgrids operation are expected to hinder the growth. On the contrary, with the introduction of distributed energy resources in power system, microgrids are expected to achieve environmental and environmental benefits through utilizing automation, thus creating lucrative opportunities for the market.
Microgrid is expected to be a multi-billion-dollar market, and is expected to grow at a significant rate during the forecast period. At present, the market is led by North America, owing to rapid industrialization and electrification. However, Asia-Pacific is anticipated to witness high growth potential, owing to the presence of emerging economies.
Global microgrids market trends
Requirement of safe power sources in special sectors
Owing to modernization in communication technologies, such as wireless and cloud computing, the traditional power systems are susceptible to cyber-attacks. High priority sectors, such as the defense services and research labs require a secure network with round-the-clock power supply from an independent external power station. This has led to increase in demand for microgrids across the globe, thereby augmenting the growth of the market.
Less pollution and minimal wastage of energy
Rise in concern from different countries around the globe regarding greenhouse gas emission boosts the demand for renewable and clean energy sources. Efficient microgrid systems with the potential of battery energy storage devices can reduce the percentage of CO2 footprint, thus augmenting the market growth, globally. In addition, lower transmission loss in microgrids as compared to conventional power grids is expected to boost the market growth. For instance, microgrids generate power locally and reduce dependence on long distance transmission lines, thereby minimizing transmission losses.
Key segments covered
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Segment |
Subsegment |
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Connectivity |
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Power Sources |
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Power Storage |
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Application |
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Key benefits of the report
- This study presents the analytical depiction of the global microgrids industry along with the current trends and future estimations to determine the imminent investment pockets.
- The report presents information related to key drivers, restraints, and opportunities along with detailed analysis of the global microgrids market share.
- The current market is quantitatively analyzed from 2020 to 2027 to highlight the global microgrid market growth scenario.
- Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market.
- The report provides a detailed market analysis depending on competitive intensity and how the competition will take shape in coming years.
Questions answered in the global microgrids market research report:
- Which are the leading market players active in the global microgrids market?
- What are the current trends that will influence the market in the next few years?
- What are the driving factors, restraints, and opportunities of the market?
- What are the projections for the future that would help in taking further strategic steps?
We offer our clients exhaustive research and analysis based on wide variety of factual inputs, which largely include interviews with industry participants, reliable statistics and regional intelligence. Our in-house industry experts play instrumental role in designing analytic tools and models, tailored to the requirements of particular industry segment. These analytical tools and models sanitize the data & statistics and enhance the accuracy of our recommendations and advice. With AMR’s calibrated research process and 360` degree data-evaluation methodology, our clients are assured of receiving:
- Consistent, valuable, robust and actionable data & analysis that can easily be referenced for strategic business planning
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With a strong methodology we are, therefore, confident that our research and analysis are most reliable and guarantees sound business planning.
Secondary research
We refer a broad array of industry sources for our secondary, which typically include; however, not limited to: Company SEC filings, annual reports, company websites, broker & financial reports and investor presentations for competitive scenario and shape of the industry
- Patent and regulatory databases for understanding of technical & legal developments
- Scientific and technical writings for product information and related preemptions
- Regional government and statistical databases for macro analysis
- Authentic new articles, web-casts and other related releases for market evaluation
- Internal and external proprietary databases, key market indicators and relevant press releases for market estimates and forecast
Primary research
Our primary research efforts include reaching out participants through mail, tele-conversations, referrals, professional networks and face-to-face interactions. We are also in professional corporate relations with various companies that allow us greater flexibility for reaching out industry participants and commentators for interviews and discussions, fulfilling following functions:
- Validates and improves the data quality and strengthens research proceeds
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- Supplies authentic information about market size, share, growth and forecasts
Our primary research interview and discussion panels are typically composed of most experienced industry members. These participants include; however, not limited to:
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- Product and sales managers or country heads; channel partners and top level distributors; banking, investments and valuation experts Key opinion leaders (KOLs)
Analyst tools and models
AMR has developed set of analyst tools and data models to supplement and expedite the analysis process. Corresponding to markets, where there is significant lack of information and estimates, AMR’s team of experts and analyst develop specific analyst tools and industry models to translate qualitative and quantitative industry indicators into exact industry estimates. These models also allow analysts to examine the prospects and opportunities prevailing in the market to accurately forecast the course of the market.
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