0

Microgrid Market Expected to Reach $59.74 billion by 2030

 
2022
Microgrid Market

Report Code : A00439

quote The global microgrid market share is expected to witness considerable growth, owing to increase in demand for Internet of Things solutions, especially in Asia-Pacific and LAMEA, due to rise in demand for digital infrastructure solution in these regions. quote

Aishwarya Rajvaidya
Lead Analyst, Semiconductor and Electronics

Get 20% Free Customization In This Report
Follow us on Social Media:       
 

According to a new report published by Allied Market Research, titled, “Microgrid Market by Connectivity, Type, and End Use: Global Opportunity Analysis and Industry Forecast, 2021–2030,” the microgrid market size was valued at $15.88 billion in 2020, and is projected to reach at $59.74 billion by 2030, growing at a CAGR of 14.9% from 2021 to 2030.

Increase in demand in remote areas and backup for military bases and stringent government initiatives to reduce carbon footprints. However, high installation and maintenance cost hinder the market growth. Growth in demand for smart microgrid solution in commercial and industrial sectors for reliable and uninterrupted power and electricity supply is expected to be opportunistic for the microgrid market growth.

By connectivity, it is fragmented into grid connected and off-grid connected. The grid connected segment was the highest revenue contributor accounting for $9.41 billion in 2020, and is expected to witness the fastest growth at a CAGR of 15.6% during the forecast period.

By type, the market is divided into AC microgrids, DC microgrids and hybrid. The AC microgrids segment was the highest revenue contributor accounting for $10.06 billion in 2020, and is expected to witness the fastest growth at a CAGR of 15.6% during the forecast period.

According to microgrid market analysis, the end use segment is divided into commercial & industrial, government, healthcare, remote, utility, and others. The commercial and industrial sector is expected to be the fastest growing segment registering a CAGR of 17.1% during the forecast period. However, the remote segment is the highest revenue contributor that accounted for $3.90 billion in 2020.

By region, the microgrid market trends is analyzed across North America, Europe, Asia-Pacific, and LAMEA. Asia-Pacific was the highest revenue contributor that was valued at $65.44 billion in 2020. This region is further expected to attain a market value of $27.85 billion by 2030 to grow at a CAGR of 16.4%.

Key Findings Of The Study

  • In 2020, the AC Microgrids segment accounted for maximum revenue, and is projected to grow at a notable CAGR of 15.6% during the forecast period.
  • The remote and others segments together accounted for around 45.4% of the microgrid market share in 2020.
  • The AC microgrids segment if microgrid industry is projected to growth at a CAGR of 15.6% during the forecast period.
  • North America contributed for the major share in the microgrid market trends.

The key players profiled in the report include ABB, General Electric, Siemens, Eaton Corporation, Honeywell, Schneider Electric, S&C Electric, Spirae Inc., Exelon Corporation, and Pareto Energy. Market players have adopted various strategies, such as product launch, collaboration & partnership, joint venture, and acquisition, to expand their foothold in the microgrid industry.

Need More Information

pr-det-talk Talk to David (Europe)

pr-det-talk Talk to Sona Padman (Americas)

5933 NE Win Sivers Drive #205,
Portland, OR 97220 United States

pr-det-phone Toll Free: +1-800-792-5285

pr-det-phone UK: +44-845-528-1300

pr-det-phone Hong Kong: +852-301-84916

pr-det-phone India (Pune): +91 2066346060

pr-det-phone Fax: +1(855) 550-5975

pr-det-phone help@alliedmarketresearch.com

 

For Media Inquiries, Please Contact

Allied Market Research
Contact Toll Free: +1-800-792-5285
Drop us an email at
media@alliedmarketresearch.com

Looking for Customization?

 Customization Request

Have a Question?

 Speak with Analyst

Any Confusion?

 Inquire Before Buying

Have a glance of the Report

  Request Free Sample
 
 

First time buyer?
Check offers and discount on this report
To get this report

Click Here
 
 

quote Microgrid Market by Connectivity (Grid Connected and Off-grid Connected), Type (AC Microgrids, DC Microgrids, and Hybrid) and End User (Commercial & Industrial, Government, Healthcare, Remote, Utility, and Others): Global Opportunity Analysis and Industry Forecast, 2020–2030 quote

View Report
 
 

Avenue: Entire Library membership of Allied Market Research Reports at your disposal

  • Avenue is an innovative subscription-based online report database.
  • Avail an online access to the entire library of syndicated reports on more than 2,000 niche industries and company profiles on more than 12,000 firms across 11 domains.
  • A cost-effective model tailored for entrepreneurs, investors, and students & researchers at universities.
  • Request customizations, suggest new reports, and avail analyst support as per your requirements.
  • Get an access to the library of reports at any time from any device and anywhere.

 
 

WHY ALLIED MARKET RESEARCH?

INFLALLIBLE METHODOLOGY

To ensure high-level data integrity, accurate analysis, and impeccable forecasts

ANALYST SUPPORT

For complete satisfaction

CUSTOMIZATION

On-demand customization of scope of the report to exactly meet your needs

TARGETED MARKET VIEW

Targeted market view to provide pertinent information and save time of readers

 

Featured Readings

 
rep-img

Published Date Nov 2024

Alloys Market

Download Sample
rep-img

Published Date Nov 2024

Aerospace Sealants Market

Download Sample
rep-img

Published Date Nov 2024

Isotopes Market

Download Sample

Buy Full Version
"Microgrid Market"
Purchase Enquiry

Get fresh content delivered

Get insights on topics that are crucial for your business. Stay abreast of your interest areas.

Get Industry Data Alerts

Why Allied Market Research?

Infallible Methodology

To ensure high-level data integrity, accurate analysis, and impeccable forecasts

Analyst Support

For complete satisfaction

Customization

On-demand customization of the scope of the report to exactly meet your needs

TARGETED MARKET VIEW

Targeted market view to provide pertinent information and save the time of readers