GLOBAL MICROGRID MARKET 2022-2028

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Based on CRI’s report, the global microgrid market is estimated to witness growth at a CAGR of 10.73% during the forecast period 2022-2028.

SKU: TR-216-2022 Category: Tag:

Description

MARKET OUTLOOK

Based on CRI’s report, the global microgrid market is estimated to witness growth at a CAGR of 10.73% during the forecast period 2022-2028.
The global market’s growth can be attributed to key factors such as combating power outages using microgrids, along with growing electricity consumption across the globe. Additionally, the surging integration of the internet of things in microgrids and rising investments in clean energy by governments are expected to open new avenues for the studied market.
On the contrary, the market’s growth is restricted owing to hurdles posed by the regulatory framework and high maintenance and installation costs.

REGIONAL OUTLOOK

The global microgrid market includes North America, Asia-Pacific, Latin America, Europe, and the Middle East and Africa regions.
The Asia-Pacific is deemed to witness the fastest growth over the forecast period. The large population base in the region has increased the demand for power grids due to the lack of electricity. Due to low electrification rates, several microgrid innovators are expanding operations in the region and are backed by government funding.
Additionally, with several nations facing extreme weather conditions, microgrids have emerged as an ideal solution to improve grid efficiency. During the forecast period, collaborations between governments, international development agencies, and energy companies are expected to rise, boosting the market’s growth.

COMPETITIVE OUTLOOK

The major companies in the microgrid market are Hitachi Ltd, Schneider Electric, Duke Energy Corporation, Exelon Corporation, Siemens AG, Fairbanks Morse, National Grid Plc, S&C Electric Company, Bloom Energy, Cummins Inc, FuelCell Energy Inc, General Electric Company, Power Engineers Incorporated, NRG Energy Inc, and Eaton Corporation Plc.
Siemens AG is a global technology company engaged in electrification, automation, and digitalization. It specializes in developing intelligent infrastructure for buildings and distributed energy systems. The company serves clients across various sectors, including manufacturing, healthcare, and power generation. Additionally, it operates through business segments, including smart infrastructure and gas & power. Siemens has operations across the globe, with headquarters located in Munich, Germany.

TABLE OF CONTENTS

1. GLOBAL MICROGRID MARKET – SUMMARY
2. INDUSTRY OUTLOOK
2.1. IMPACT OF COVID-19 ON THE MICROGRID MARKET
2.2. KEY INSIGHTS
2.2.1. GROWING USE OF MICROGRIDS IN SOLAR ENERGY
2.2.2. INCREASE IN SMART CITIES INITIATIVES
2.3. PORTER’S FIVE FORCES ANALYSIS
2.3.1. THREAT OF NEW ENTRANTS
2.3.2. THREAT OF SUBSTITUTES
2.3.3. BARGAINING POWER OF BUYERS
2.3.4. BARGAINING POWER OF SUPPLIERS
2.3.5. THREAT OF COMPETITIVE RIVALRY
2.4. MARKET ATTRACTIVENESS INDEX
2.5. VENDOR SCORECARD
2.6. KEY MARKET STRATEGIES
2.6.1. PRODUCT LAUNCHES
2.6.2. COLLABORATIONS
2.6.3. BUSINESS DIVESTITURES
2.6.4. ACQUISITIONS
2.7. MARKET DRIVERS
2.7.1. COMBATING POWER OUTAGES DURING SEVERE WEATHER USING MICROGRIDS
2.7.2. GROWING ELECTRICITY CONSUMPTION WORLDWIDE
2.8. MARKET CHALLENGES
2.8.1. HURDLES POSED BY REGULATORY FRAMEWORK
2.8.2. HIGH MAINTENANCE AND INSTALLATION OF MICROGRIDS
2.9. MARKET OPPORTUNITIES
2.9.1. RISING USE OF INTERNET OF THINGS (IoT) IN MICROGRIDS
2.9.2. RISE IN CLEAN ENERGY INTEGRATION BY GOVERNMENT AND PRIVATE SECTOR
3. GLOBAL MICROGRID MARKET OUTLOOK – BY UTILIZATION TYPE
3.1. METROPOLITAN
3.2. SEMI-URBAN
3.3. RURAL
4. GLOBAL MICROGRID MARKET OUTLOOK – BY COMPONENT
4.1. HARDWARE
4.1.1. POWER GENERATORS
4.1.2. ENERGY STORAGE
4.1.3. CONTROLLERS
4.2. SOFTWARE
4.3. SERVICES
5. GLOBAL MICROGRID MARKET OUTLOOK – BY CONNECTIVITY
5.1. GRID CONNECTED
5.2. ISLAND GRID
6. GLOBAL MICROGRID MARKET OUTLOOK – BY INDUSTRY VERTICAL
6.1. COMMERCIAL & INDUSTRIAL
6.2. HEALTHCARE
6.3. EDUCATIONAL INSTITUTIONS
6.4. MILITARY & DEFENSE
6.5. GOVERNMENT & UTILITIES
6.6. OTHER INDUSTRY VERTICALS
7. GLOBAL MICROGRID MARKET – REGIONAL OUTLOOK
7.1. NORTH AMERICA
7.1.1. MARKET BY UTILIZATION TYPE
7.1.2. MARKET BY COMPONENT
7.1.2.1. MARKET BY HARDWARE
7.1.3. MARKET BY CONNECTIVITY
7.1.4. MARKET BY INDUSTRY VERTICAL
7.1.5. COUNTRY ANALYSIS
7.1.5.1. UNITED STATES
7.1.5.2. CANADA
7.2. EUROPE
7.2.1. MARKET BY UTILIZATION TYPE
7.2.2. MARKET BY COMPONENT
7.2.2.1. MARKET BY HARDWARE
7.2.3. MARKET BY CONNECTIVITY
7.2.4. MARKET BY INDUSTRY VERTICAL
7.2.5. COUNTRY ANALYSIS
7.2.5.1. UNITED KINGDOM
7.2.5.2. GERMANY
7.2.5.3. FRANCE
7.2.5.4. ITALY
7.2.5.5. SPAIN
7.2.5.6. THE NETHERLANDS
7.2.5.7. REST OF EUROPE
7.3. ASIA-PACIFIC
7.3.1. MARKET BY UTILIZATION TYPE
7.3.2. MARKET BY COMPONENT
7.3.2.1. MARKET BY HARDWARE
7.3.3. MARKET BY CONNECTIVITY
7.3.4. MARKET BY INDUSTRY VERTICAL
7.3.5. COUNTRY ANALYSIS
7.3.5.1. CHINA
7.3.5.2. JAPAN
7.3.5.3. INDIA
7.3.5.4. SOUTH KOREA
7.3.5.5. ASEAN COUNTRIES
7.3.5.6. AUSTRALIA & NEW ZEALAND
7.3.5.7. REST OF ASIA-PACIFIC
7.4. LATIN AMERICA
7.4.1. MARKET BY UTILIZATION TYPE
7.4.2. MARKET BY COMPONENT
7.4.2.1. MARKET BY HARDWARE
7.4.3. MARKET BY CONNECTIVITY
7.4.4. MARKET BY INDUSTRY VERTICAL
7.4.5. COUNTRY ANALYSIS
7.4.5.1. BRAZIL
7.4.5.2. MEXICO
7.4.5.3. REST OF LATIN AMERICA
7.5. MIDDLE EAST AND AFRICA
7.5.1. MARKET BY UTILIZATION TYPE
7.5.2. MARKET BY COMPONENT
7.5.2.1. MARKET BY HARDWARE
7.5.3. MARKET BY CONNECTIVITY
7.5.4. MARKET BY INDUSTRY VERTICAL
7.5.5. COUNTRY ANALYSIS
7.5.5.1. UNITED ARAB EMIRATES
7.5.5.2. SAUDI ARABIA
7.5.5.3. ISRAEL
7.5.5.4. SOUTH AFRICA
7.5.5.5. REST OF MIDDLE EAST & AFRICA
8. COMPETITIVE LANDSCAPE
8.1. HITACHI LTD
8.2. SCHNEIDER ELECTRIC
8.3. DUKE ENERGY CORPORATION
8.4. EXELON CORPORATION
8.5. SIEMENS AG
8.6. FAIRBANKS MORSE
8.7. NATIONAL GRID PLC
8.8. S&C ELECTRIC COMPANY
8.9. BLOOM ENERGY
8.10. CUMMINS INC
8.11. FUELCELL ENERGY INC
8.12. GENERAL ELECTRIC COMPANY
8.13. POWER ENGINEERS INCORPORATED
8.14. NRG ENERGY INC
8.15. EATON CORPORATION PLC
9. RESEARCH METHODOLOGY & SCOPE
9.1. RESEARCH SCOPE & DELIVERABLES
9.2. SOURCES OF DATA
9.3. RESEARCH METHODOLOGY

LIST OF TABLES

TABLE 1: GLOBAL MICROGRID MARKET, BY REGIONAL OUTLOOK, 2022-2028 (IN $ MILLION)
TABLE 2: VENDOR SCORECARD
TABLE 3: LIST OF PRODUCT LAUNCHES
TABLE 4: LIST OF COLLABORATIONS
TABLE 5: LIST OF BUSINESS DIVESTITURES
TABLE 6: LIST OF ACQUISITIONS
TABLE 7: GLOBAL MICROGRID MARKET, BY UTILIZATION TYPE, 2022-2028 (IN $ MILLION)
TABLE 8: GLOBAL MICROGRID MARKET, BY COMPONENT, 2022-2028 (IN $ MILLION)
TABLE 9: GLOBAL MICROGRID MARKET, BY HARDWARE, 2022-2028 (IN $ MILLION)
TABLE 10: GLOBAL MICROGRID MARKET, BY CONNECTIVITY, 2022-2028 (IN $ MILLION)
TABLE 11: GLOBAL MICROGRID MARKET, BY INDUSTRY VERTICAL, 2022-2028 (IN $ MILLION)
TABLE 12: GLOBAL MICROGRID MARKET, BY REGIONAL OUTLOOK, 2022-2028 (IN $ MILLION)
TABLE 13: NORTH AMERICA MICROGRID MARKET, BY COUNTRY OUTLOOK, 2022-2028 (IN $ MILLION)
TABLE 14: NORTH AMERICA MICROGRID MARKET, BY UTILIZATION TYPE, 2022-2028 (IN $ MILLION)
TABLE 15: NORTH AMERICA MICROGRID MARKET, BY COMPONENT, 2022-2028 (IN $ MILLION)
TABLE 16: NORTH AMERICA MICROGRID MARKET, BY HARDWARE, 2022-2028 (IN $ MILLION)
TABLE 17: NORTH AMERICA MICROGRID MARKET, BY CONNECTIVITY, 2022-2028 (IN $ MILLION)
TABLE 18: NORTH AMERICA MICROGRID MARKET, BY INDUSTRY VERTICAL, 2022-2028 (IN $ MILLION)
TABLE 19: EUROPE MICROGRID MARKET, BY COUNTRY OUTLOOK, 2022-2028 (IN $ MILLION)
TABLE 20: EUROPE MICROGRID MARKET, BY UTILIZATION TYPE, 2022-2028 (IN $ MILLION)
TABLE 21: EUROPE MICROGRID MARKET, BY COMPONENT, 2022-2028 (IN $ MILLION)
TABLE 22: EUROPE MICROGRID MARKET, BY HARDWARE, 2022-2028 (IN $ MILLION)
TABLE 23: EUROPE MICROGRID MARKET, BY CONNECTIVITY, 2022-2028 (IN $ MILLION)
TABLE 24: EUROPE MICROGRID MARKET, BY INDUSTRY VERTICAL, 2022-2028 (IN $ MILLION)
TABLE 25: ASIA-PACIFIC MICROGRID MARKET, BY COUNTRY OUTLOOK, 2022-2028 (IN $ MILLION)
TABLE 26: ASIA-PACIFIC MICROGRID MARKET, BY UTILIZATION TYPE, 2022-2028 (IN $ MILLION)
TABLE 27: ASIA-PACIFIC MICROGRID MARKET, BY COMPONENT, 2022-2028 (IN $ MILLION)
TABLE 28: ASIA-PACIFIC MICROGRID MARKET, BY HARDWARE, 2022-2028 (IN $ MILLION)
TABLE 29: ASIA-PACIFIC MICROGRID MARKET, BY CONNECTIVITY, 2022-2028 (IN $ MILLION)
TABLE 30: ASIA-PACIFIC MICROGRID MARKET, BY INDUSTRY VERTICAL, 2022-2028 (IN $ MILLION)
TABLE 31: LATIN AMERICA MICROGRID MARKET, BY COUNTRY OUTLOOK, 2022-2028 (IN $ MILLION)
TABLE 32: LATIN AMERICA MICROGRID MARKET, BY UTILIZATION TYPE, 2022-2028 (IN $ MILLION)
TABLE 33: LATIN AMERICA MICROGRID MARKET, BY COMPONENT, 2022-2028 (IN $ MILLION)
TABLE 34: LATIN AMERICA MICROGRID MARKET, BY HARDWARE, 2022-2028 (IN $ MILLION)
TABLE 35: LATIN AMERICA MICROGRID MARKET, BY CONNECTIVITY, 2022-2028 (IN $ MILLION)
TABLE 36: LATIN AMERICA MICROGRID MARKET, BY INDUSTRY VERTICAL, 2022-2028 (IN $ MILLION)
TABLE 37: MIDDLE EAST AND AFRICA MICROGRID MARKET, BY COUNTRY OUTLOOK, 2022-2028 (IN $ MILLION)
TABLE 38: MIDDLE EAST AND AFRICA MICROGRID MARKET, BY UTILIZATION TYPE, 2022-2028 (IN $ MILLION)
TABLE 39: MIDDLE EAST AND AFRICA MICROGRID MARKET, BY COMPONENT, 2022-2028 (IN $ MILLION)
TABLE 40: MIDDLE EAST AND AFRICA MICROGRID MARKET, BY HARDWARE, 2022-2028 (IN $ MILLION)
TABLE 41: MIDDLE EAST AND AFRICA MICROGRID MARKET, BY CONNECTIVITY, 2022-2028 (IN $ MILLION)
TABLE 42: MIDDLE EAST AND AFRICA MICROGRID MARKET, BY INDUSTRY VERTICAL, 2022-2028 (IN $ MILLION)

LIST OF FIGURES

FIGURE 1: RENEWABLE ELECTRICITY GENERATION, BY SOURCE, IN 2018-2020
FIGURE 2: MARKET ATTRACTIVENESS INDEX
FIGURE 3: GLOBAL MICROGRID MARKET, BY UTILIZATION TYPE, 2021 & 2028 (IN %)
FIGURE 4: GLOBAL MICROGRID MARKET, BY METROPOLITAN, 2022-2028 (IN $ MILLION)
FIGURE 5: GLOBAL MICROGRID MARKET, BY SEMI-URBAN, 2022-2028 (IN $ MILLION)
FIGURE 6: GLOBAL MICROGRID MARKET, BY RURAL, 2022-2028 (IN $ MILLION)
FIGURE 7: GLOBAL MICROGRID MARKET, BY COMPONENT, 2021 & 2028 (IN %)
FIGURE 8: GLOBAL MICROGRID MARKET, BY HARDWARE, 2022-2028 (IN $ MILLION)
FIGURE 9: GLOBAL MICROGRID MARKET, BY HARDWARE, 2021 & 2028 (IN %)
FIGURE 10: GLOBAL MICROGRID MARKET, BY POWER GENERATORS, 2022-2028 (IN $ MILLION)
FIGURE 11: GLOBAL MICROGRID MARKET, BY ENERGY STORAGE, 2022-2028 (IN $ MILLION)
FIGURE 12: GLOBAL MICROGRID MARKET, BY CONTROLLERS, 2022-2028 (IN $ MILLION)
FIGURE 13: GLOBAL MICROGRID MARKET, BY SOFTWARE, 2022-2028 (IN $ MILLION)
FIGURE 14: GLOBAL MICROGRID MARKET, BY SERVICES, 2022-2028 (IN $ MILLION)
FIGURE 15: GLOBAL MICROGRID MARKET, BY CONNECTIVITY, 2021 & 2028 (IN %)
FIGURE 16: GLOBAL MICROGRID MARKET, BY GRID CONNECTED, 2022-2028 (IN $ MILLION)
FIGURE 17: GLOBAL MICROGRID MARKET, BY ISLAND GRID, 2022-2028 (IN $ MILLION)
FIGURE 18: GLOBAL MICROGRID MARKET, BY INDUSTRY VERTICAL, 2021 & 2028 (IN %)
FIGURE 19: GLOBAL MICROGRID MARKET, BY COMMERCIAL & INDUSTRIAL, 2022-2028 (IN $ MILLION)
FIGURE 20: GLOBAL MICROGRID MARKET, BY HEALTHCARE, 2022-2028 (IN $ MILLION)
FIGURE 21: GLOBAL MICROGRID MARKET, BY EDUCATIONAL INSTITUTIONS, 2022-2028 (IN $ MILLION)
FIGURE 22: GLOBAL MICROGRID MARKET, BY MILITARY & DEFENSE, 2022-2028 (IN $ MILLION)
FIGURE 23: GLOBAL MICROGRID MARKET, BY GOVERNMENT & UTILITIES, 2022-2028 (IN $ MILLION)
FIGURE 24: GLOBAL MICROGRID MARKET, BY OTHER INDUSTRY VERTICALS, 2022-2028 (IN $ MILLION)
FIGURE 25: GLOBAL MICROGRID MARKET, BY REGIONAL OUTLOOK, 2021 & 2028 (IN %)
FIGURE 26: UNITED STATES MICROGRID MARKET 2022-2028 (IN $ MILLION)
FIGURE 27: CANADA MICROGRID MARKET 2022-2028 (IN $ MILLION)
FIGURE 28: UNITED KINGDOM MICROGRID MARKET 2022-2028 (IN $ MILLION)
FIGURE 29: GERMANY MICROGRID MARKET 2022-2028 (IN $ MILLION)
FIGURE 30: FRANCE MICROGRID MARKET 2022-2028 (IN $ MILLION)
FIGURE 31: ITALY MICROGRID MARKET 2022-2028 (IN $ MILLION)
FIGURE 32: SPAIN MICROGRID MARKET 2022-2028 (IN $ MILLION)
FIGURE 33: NETHERLANDS MICROGRID MARKET 2022-2028 (IN $ MILLION)
FIGURE 34: REST OF EUROPE MICROGRID MARKET 2022-2028 (IN $ MILLION)
FIGURE 35: CHINA MICROGRID MARKET 2022-2028 (IN $ MILLION)
FIGURE 36: JAPAN MICROGRID MARKET 2022-2028 (IN $ MILLION)
FIGURE 37: INDIA MICROGRID MARKET 2022-2028 (IN $ MILLION)
FIGURE 38: SOUTH KOREA MICROGRID MARKET 2022-2028 (IN $ MILLION)
FIGURE 39: ASEAN COUNTRIES MICROGRID MARKET 2022-2028 (IN $ MILLION)
FIGURE 40: AUSTRALIA & NEW ZEALAND MICROGRID MARKET 2022-2028 (IN $ MILLION)
FIGURE 41: REST OF ASIA-PACIFIC MICROGRID MARKET 2022-2028 (IN $ MILLION)
FIGURE 42: BRAZIL MICROGRID MARKET 2022-2028 (IN $ MILLION)
FIGURE 43: MEXICO MICROGRID MARKET 2022-2028 (IN $ MILLION)
FIGURE 44: REST OF LATIN AMERICA MICROGRID MARKET 2022-2028 (IN $ MILLION)
FIGURE 45: UNITED ARAB EMIRATES MICROGRID MARKET 2022-2028 (IN $ MILLION)
FIGURE 46: SAUDI ARABIA MICROGRID MARKET 2022-2028 (IN $ MILLION)
FIGURE 47: ISRAEL MICROGRID MARKET 2022-2028 (IN $ MILLION)
FIGURE 48: SOUTH AFRICA MICROGRID MARKET 2022-2028 (IN $ MILLION)
FIGURE 49: REST OF MIDDLE EAST & AFRICA MICROGRID MARKET 2022-2028 (IN $ MILLION)

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Companies Mentioned

1. HITACHI LTD
2. SCHNEIDER ELECTRIC
3. DUKE ENERGY CORPORATION
4. EXELON CORPORATION
5. SIEMENS AG
6. FAIRBANKS MORSE
7. NATIONAL GRID PLC
8. S&C ELECTRIC COMPANY
9. BLOOM ENERGY
10. CUMMINS INC
11. FUELCELL ENERGY INC
12. GENERAL ELECTRIC COMPANY
13. POWER ENGINEERS INCORPORATED
14. NRG ENERGY INC
15. EATON CORPORATION PLC

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