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Microgrid Market Size - Industry Analysis, Share, Growth, Trends, and Forecast 2019-2027

Press release   •   Aug 30, 2019 13:07 IST

Microgrid Market

The microgrid market is anticipated to grow in the forecast period owing to driving factors such as high demands for reliable and secure power supply across the globe, coupled with the rapid industrialization. Also, government initiatives to reduce carbon footprint owing to cheap and clean energy storage are further expected to boom the microgrid market. However, high installation and maintenance costs may hamper the overall growth of the microgrid market. Nonetheless, the enhancement of microgrid connectivity through IoT is expected to accelerate the growth of the microgrid market during the forecast period.

These grids are known to effectively integrate various sources of distributed generation, including renewable sources such as photovoltaic, wind and fuel cell generation. Microgrids significantly reduce the transmission losses and also reduce dependence on long-distance transmission lines besides cutting losses during transmission.

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The key players influencing the market are:

ABB Group, Eaton Corporation, General Electric Company, HOMER Energy LLC, Honeywell International, PECO (Exelon Corporation), Power Analytics Corporation, S&C Electric Company, Schneider Electric, Siemens AG.

The global microgrid market is segmented on the basis of type, components and end-use industry. Based on type, the market is segmented as grid connected and off-grid. On the basis of the components, the market is segmented as hardware, software and services. The market on the basis of the end-use industry is classified as military, healthcare, government & utilities, institutes, industrial and others.

Various segments of the market such as type/components/ application/industry verticals/ end-users are analyzed with robust research methodology which includes three step process starting with extensive secondary research to gather data from company profiles, global/regional associations, trade journals, technical white papers, paid databases etc. followed by primary research (interviews) with industry experts/KOLs to gain their insights and views on current scenarios and future scope of the market as well as validating the secondary information, further internal statistical model is used to estimate the market size and forecasts till 2027.

Microgrid Market report is a combination of qualitative as well as quantitative analysis which can be broken down into 40% and 60% respectively. Market estimation and forecasts are presented in the report for the overall global market from 2018 – 2027, considering 2018 as the base year and 2018 – 2027 forecast period. Global estimation is further broken down by segments and geographies such as North America, Europe, Asia-Pacific, Middle East & Africa and South America covering major 16 countries across the mentioned regions. The qualitative contents for geographical analysis will cover market trends in each region and country which includes highlights of the key players operating in the respective region/country, PEST analysis of each region which includes political, economic, social and technological factors influencing the growth of the market.

Microgrid Market - Global Analysis to 2027 is an expert compiled study which provides a holistic view of the market covering current trends and future scope with respect to product/service, the report also covers competitive analysis to understand the presence of key vendors in the companies by analyzing their product/services, key financial facts, details SWOT analysis and key development in last three years. Further chapter such as industry landscape and competitive landscape provides the reader with recent company level insights covering mergers and acquisitions, joint ventures, collaborations, new product developments/strategies taking place across the ecosystem. The chapters also evaluate the key vendors by mapping all the relevant products and services to exhibit the ranking/position of top 5 key vendors.

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The Insight Partners is a one stop industry research provider of actionable intelligence. We help our clients in getting solutions to their research requirements through our syndicated and consulting research services. We are a specialist in Technology, Media, Healthcare and Telecommunication industries.

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