Global Microgrid Market is anticipated to reach USD 17.51 billion by 2025. The Microgrid is a combination of generation, distribution, transmission, and electricity and used on a small scale as compared to the conventional Microgrid. Microgrids produce power, and in doing so, decrease necessity of long distance transmission lines and cut transmission damages.

The factors that propel the growth of the microgrid industry include increasing demand for reliable and secure power supply worldwide, government initiatives to reduce carbon footprint, and the compensations of clean and cheap energy storage. On the other hand, there are factors that may hamper the growth of the market including massive investment essential for integrating existing systems with microgrid, high primary cost of installation, solar PV installation in rural areas, and technical barriers. Microgrid Market is anticipated to grow at a significant CAGR of 17.0% in the upcoming period as the scope, product types, and its applications are increasing across the globe.

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Microgrid industry may be explored by type, offering, consumption pattern, verticals, and geography. The market may be explored by type as Remote/Island/Off-Grid, and Grid Connected. The “Remote/Island-Grid” segment led the market in 2018 and is anticipated to maintain its dominance by 2025 due to forthcoming installation of new schemes in Russia, and Arctic circle.

The Microgrid Market could be explored based on offering as Services, Hardware, and Software. The “Software” segment led the market in 2018 and is anticipated to maintain its dominance by 2025 due to high acceptance of software across commercial and industrial sites, university campuses, utilities, and municipalities. The industry may be analyzed by consumption pattern as Semi-urban, Rural/Island, and Urban/Metropolitan.

Microgrid industry may be categorized by verticals as Healthcare, Educational Institutes, Military, Industrial, Government & Utilities may be subdivided into Rural Electrification and Urban Electrification, and Other verticals may comprise Data Centers, Telecom Infrastructure (Cellphone Towers), and Electric Vehicles. The “Healthcare” segment led the market in 2018 and is anticipated to maintain its dominance by 2025 owing to growing need for continuous power supply in the healthcare domain, and Next-generation microgrids offer healthcare services the ideal power source for sustaining operator involvement although enhancing energy consumption.

North America accounted for the major share of the Microgrid Market Size in 2017 and will continue to lead in the forecast period. The factors that could be attributed to the growth includes growing number of new solar PV microgrids for effectiveness in West and Northeast regions of the U.S. is anticipated to have an optimistic influence.

Some of the key players that fuel the growth of the microgrid industry comprise Exelon, GE, Lockheed Martin Corporation, Siemens AG, Lockheed Martin Corporation, Power Analytics, ABB Group, Schneider Electric, Honeywell International Inc, Toshiba Corporation, Echelon Corporation, and ZBB Energy Corporation. The leading companies are taking up partnerships, mergers and acquisitions, and joint ventures in order to boost the inorganic growth of the industry.

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Market Segment:

Microgrid Power Source Outlook (Volume, MW; Revenue, USD Million; 2014 - 2025)
• Natural Gas
• CHP
• Solar PV
• Diesel
• Fuel Cell
• Others

Microgrid Product Outlook (Volume, MW; Revenue, USD Million; 2014 - 2025)
• Remote
• Grid connected
• Hybrid

Microgrid Application Outlook (Volume, MW; Revenue, USD Million; 2014 - 2025)
• Government
• Education
• Commercial
• Utility
• Defense
• Others

Microgrid Regional Outlook (Volume, MW; Revenue, USD Million; 2014 - 2025)
• North America
• U.S.
• Europe
• Germany
• Asia Pacific
• China
• India
• Central & South America
• Brazil
• Middle East & Africa

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Increasing urban populace and rapid industrialization have impelled the demand for energy. Conventional energy sources are depleting at an alarming rate, constructing a demand for sustainable equivalents. As per the International Energy Agency online release, the global energy demand experienced a surge of 2.1% in 2017, which was more than double of 2016. Oil, natural gas, and coal-fueled over 70 percent of the overall demand—taking the carbon emission to an unprecedented hike of 32.5 gigatonnes. Thus to counter such environment menacing developments, alternatives are being harnessed and microgrids are emerging as a promising trend.

Browse 64 Market Tables, 177 Figures spread through 148 slides and an in-depth TOC on “Microgrid Market (2018 - 2023)”

A microgrid is a distributed energy resource that can be operated, controlled, and coordinated within a defined boundary. It can be operated via connection with the main power grid and is also capable of operations in “island” mode or completely off-grid. Its capacity as a thermal energy component and to generate power from renewable sources like solar panels are liable for its market growth. It is also accomplished to create and store local clean energy and meet the demand-supply ratio in an optimized manner to avoid leakage and loss of valuable energy transmissions. Geographical and economic conundrum often prohibits the reach of traditional grid supply but microgrids are capable of independent and economical energy generation and supply at any topographical conditions.

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Major Power Outages in North America Driving the Demand for Microgrids
As per the regional outlook was forseen by IndustryARC, in the last few years, major power outages in North America due to extreme weather conditions has propelled the microgrids market demand. To combat the power cut during such calamities, microgrids are substantial investments applied at various spaces such as hospitals, schools, government offices, military base, transport terminals, and so on. Other vital points affecting the market growth in this region are industrialization, increasing urbanization creating demand for uninterrupted energy supply and storage systems, government regulations for green energy sources and investments to curtail carbon emissions, and well-established electricity distribution network organized to adapt microgrids. Asia-Pacific is forecast to generate quantity demand in the coming years attributing to the rural areas electrifying projects and rapid growth in industrialization with severe demand for clean and renewable energy in countries such as India and China.

Global Microgrid Market: Competitive Landscape

As per the analysis conducted by the IndustryARC’s business intelligence report, some of the key players in the market are HOMER Energy LLC, Toshiba Corporation, ConsertInc, ABB Ltd, and Siemens AG. Advanced solutions, collaboration, joint ventures, and acquisitions are a few strategies approached by key players functional in the microgrid market in order to stay ahead of the curve. For example, Toshiba Corporation acquired Consert Inc. in 2013 indirection to develop their distribution facilities and expand their global existence. Additionally, HOMER Energy LLC launched HOMER Pro software, and elevated version of their HOMER software to establish a worldwide standard for microgrid designate primary phase.

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The growing emphasis on renewable energy resources with the aspiration to reduce carbon footprints, demand for uninterrupted power supply, and rural areas electrification in emerging economies is major objectives to be accomplished on a global platform. Microgrids are relevant directly or indirectly to all these operations, which makes it a flourishing investment pocket. The influx of investment on power security while preserving the nature is expected to ensure healthy growth of the global microgrid market in the near future.

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