can be defined as a group of interconnected loads and distributed energy resources within clearly defined electrical boundaries which acts as a single controllable entity with respect to the grid. A microgrid can connect and disconnect from the grid to enable it to operate in both grid-connected or island-mode. Microgrids can also be intended as back-up power or to bolster the main power grid during periods of heavy demand. Often, microgrids involve multiple energy sources as a way of incorporating renewable power. Other purposes include reducing costs and enhancing reliability. Globally, increasing power demand is expected to remain the key growth driver for microgrids during the period of study.
Geographically, North America dominated the microgrid market driven by higher demand and consumption of microgrid components used in its well established electricity distribution network. North America was followed by Asia-Pacific and Europe as second and third largest market for the microgrid market. Asia Pacific is projected to have the fastest growth, owing to increasing demand of rural electrification projects and rapidly growing mining vertical in the Indian market. With the increase in investments, a large number of plants are expected to be set up, which require microgrid solutions for power transmission and distribution, which is directly expected to impact the growth of the overall market in developing nations such as China and India in this region.
This report identifies the microgrid market
size for the years 2014-2016, and forecast of the same till the year 2022. It also highlights the market drivers, restraints, growth indicators, challenges, and other key aspects with respect to the microgrid market.
This report segments the microgrid market on the basis of grid type, component, connector and regional market as follows:
This report identifies all the major companies operating in the microgrid market. Some of the major companies’ profiles in detail are as follows:
- Microgrid market research report is classified on the basis of grid type. Some of the major grid types covered in this report are as follows: Grid-Connected, Remote/ Island, Hybrid
- Microgrid market research report is classified on the basis of component. Some of the major components covered in this report are as follows: Generation, Switch Gear, Controls, Cables, Software & Services
- Microgrid market research report is classified on the basis of vertical. Some of the major verticals covered in this report are as follows: Government & Education, Residential & Commercial, Industrial, Military, Utility and Others
- This report has been further segmented into major regions, which includes detailed analysis of each region such as: North America, Europe, Asia-Pacific (APAC), and Rest of the World (RoW) covering all the major country level markets in each of the region
- ABB Ltd.
- Eaton Corporation PLC
- General Electric
- Siemens AG
- Exelon Corporation