The recent report published by Stratview Research on the Global Microgrid Market Report for the forecast period of 2021-2026 is a valuable source of insightful data for the business strategists. The report provides industry overview with growth analysis and historical, present, and future prices, revenue, demand, and supply data, etc. This market study provides in-depth Microgrid Market data that enhances the understanding, scope, and application of this report.
According to this report, the market for Microgrid Market is consolidated with a few players accounting for the majority of the market share. Most of the major players are offering. The following are the key players in the Microgrid Market.
- Schneider Electric
- HOMER Energy
- Honeywell International
- Toshiba Corporation
- S&C Electric
Microgrid Market is likely to witness a CAGR of 26.5% during the forecast period. The industry landscape will be bolstered by the rising need for stable and reliable power supply, as well as rising electrification rates, primarily in developing economies. The business scenario will be fueled by the increasing penetration of distributed energy resources (DERs) as a result of rapid commercial and industrial expansion.
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The market is segmented by the following:
Microgrid Market Share: By Grid Type
Based on the grid type, the market is segmented as AC microgrid, DC microgrid, and hybrid. AC microgrid type is expected to register high growth rate in the market owing to its lower transmission losses, minimum heat generation, and effective high-end voltage levels across the network. Furthermore, it is extremely compatible with grid networks and does not require inverters for power delivery, propelling the industry dynamics. Also, the increasing deployment of high-voltage AC power networks, as well as big solar and wind farms connected to AC transmission lines, will positively influence the business environment.
Microgrid Market Share: By Application Type
Based on the application type, the market is segmented as healthcare, educational institutes, military, utility, industrial/commercial, remote, and others. The industrial/commercial application is estimated to account for the major share of the market during the forecast period on account of the increasing government efforts and mandates to reconstruct and overhaul existing T&D networks, as well as increased incentives to install energy-efficient alternatives. In the current context, the industrial and commercial sectors are focusing on the implementation of smart solutions across new and traditional grid infrastructure, which will favorably influence industry potential.
Microgrid Market Share: By Region
In terms of regions, Asia-Pacific is estimated to be the leading region in the market during the forecast period. The region’s market is driven by the rising favorable norms and incentive by various countries to pace up the sustainable energy mix. In addition, regional carbon emission targets and increased usage of stand-alone power sources will foster the technology demand over the forecast period.
The experts at Stratview Research have precisely studied and assessed data of the Microgrid Market key players and their scope in the market. Several analytical tools have been used to evaluate the growth of the key players operating in the market.
Key Market Features:
This report evaluates key market features, including revenue, supply/demand, gross value, production, consumption, market share, CAGR, and gross margin. In addition, the report offers a thorough study of the key market dynamics and their latest trends, along with pertinent market segments and sub-segments.
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Reasons to invest in this report –
This report answers several FAQs related to the market. Also provides customisation according to the users’ requirements. Here are some queries whose answers can be found in this report –
- What are the key trends in the global Microgrid Market?
- How the market (and its various sub-segments) has grown in the last five years and what would be the growth rate in next five years?
What is the impact of COVID-19 on the Microgrid Market?
- What are the key strategies adopted by the major vendors to lead in the Microgrid Market?
- What is the market share of the top vendors?
The following free customization options are available:
- Detailed profiling of additional market players (up to three players)
- SWOT analysis of key players (up to three players)
- Competitive Benchmarking
Benchmarking of key players on the following parameters: Product portfolio, geographical reach, regional presence, and strategic alliances
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