Microgrid Market Analysis
Microgrid Market is projected to be worth USD 60.25 Billion by 2030, registering a CAGR of 12.24% during the forecast period (2022 - 2030). Increasing demand for secure and reliable power supply is expected to drive the Microgrid Market globally throughout forecast period.
Our Market Overview and Regional Analysis provide an understanding of the industries, companies and products within the market. Our Trends section provides an analysis of how the market is currently performing and looks set to perform in the future. Our Growth Forecast section gives you an idea about how our Market Analysis works, by giving us further details on how we can build our Market Forecast model for a particular domain within this report. Lastly, in our Metrics section we outline important data points relating to each of these sections as well as our current forecasted price range.
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Market Segmentation
The global microgrid market has been segmented into type, component, power source, and end-use.
- By type, the global microgrid market has been segmented into Grid Connected and Off-Grid.
- By component, the global microgrid market has been segmented into Hardware, Software, & Services.
- By power source, the global microgrid market has been segmented into Natural Gas, Solar PV, Diesel, Fuel Cell.
- By end-use, the global microgrid market has been segmented into Industrial and Healthcare.
Regional Analysis
North America to Dominate the Global Market
North America held the greatest share of the microgrid market. The existence of a significant number of microgrid developers, as well as government measures to promote the adoption of microgrids, such as the Smart Power Infrastructure Demonstration for Energy Reliability and Security (SPIDERS) project, has given the region significance in the microgrid industry.
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Key Players
The key players in the global microgrid market are ABB (Switzerland), GE (US), Eaton (Ireland), Schneider Electric (France), Honeywell (US), Exelon Corporation (US), S&C Electric (US), Power Analytics Corporation (US), Siemens (Germany), and Microgrid Energy LLC (US), among others.
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