Microgrid Market Size – USD 28.80 billion in 2019, Market Growth – CAGR of 10.5%, Market Trends – Increasing investments in the research & development of microgrid infrastructure
Emergen Research has recently added a new informative report titled ‘Global Microgrid Market Forecasts to 2027’ to its ever-expanding repository. The report covers all the essential features of the Microgrid market, with key statistical data represented in the form of tables, charts, diagrams, figures, and graphs. The report strives to offer a better understanding of the market to the reader and provide beneficial insights to the established companies. The report presents a bird’s eye view of the Microgrid industry with a special focus on technological developments, expansion strategies of the prominent players, and current and emerging growth trends of the market.
The commercial and the industrial sector are increasingly adopting microgrid technology in order to reduce the emission levels and avail a reliable and uninterrupted supply of electricity in remote areas. The declining cost of renewable energy sources is also a contributing factor to the increasing demand of the microgrid facility. The microgrid is also used in the defense services and research labs to have a secure network from independent external power stations and reduce the risks of cyber-attacks.
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Key Highlights From The Report
- Combined heat & power (CHP) held the largest market share of 34.0% in the year 2019 due to the increasing adoption of sustainable sources of power generation, including hydro, solar, and wind energy.
- The grid-connected segment is forecasted to grow with the fastest CAGR of 10.6% over the forecast period. Reliable power supply, improved resiliency & efficiency, low cost of energy storage, and reduction in the emission level are some of the driving factors of the segment.
- The education segment accounted for the largest market share of the microgrid market in 2019 due to the government’s increased funding towards the enhancement of the education infrastructure in the developing economies.
- North America accounted for the largest market share of the microgrid market in 2019 due to the favorable government policies, including tax rebates and other promotional schemes on adopting microgrid infrastructure.
- The Asia Pacific region is expected to be the fastest-growing region over the forecast period due to the government’s increasing initiatives to provide a cost-effective and uninterrupted supply of electricity in the rural areas of the developing economies.
- Key participants include Siemens, Honeywell, General Electric (GE), ABB, Schneider Electric, Eaton, Exelon Corporation, Spirae, Inc., S & C Electric Company, and Homer Energy, among others.
It offers a lucid picture of current trends in the global market, with an unbiased perspective of the leading market players, key regions/countries, end-use industries, and various product types.
- Power Outlook (Revenue, USD Billion; 2017-2027)
- Combined heat & power (CHP)
- Solar Photovoltaic (PV)
- Natural Gas
- Fuel Cell
- Product Outlook (Revenue, USD Billion; 2017-2027)
- Application Outlook (Revenue, USD Billion; 2017-2027)
The Microgrid market intelligence report exhaustively examines the market value, share, demand, growth prospects, latest and historical trends, manufacturers, gross revenue collection, competitive terrain, market growth forecast, available products, and end-use applications.
Geographical Terrain of the Global Microgrid Market:
- North America (U.S., Canada, and Mexico)
- Europe (Germany, France, the U.K, Russia, and Italy)
- Asia Pacific (China, Japan, Korea, India, and Southeast Asia)
- Latin America (Brazil, Argentina, Colombia, etc.)
- Middle East & Africa (Saudi Arabia, UAE, Egypt, Nigeria, and South Africa)
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Global Microgrid Market Report – Table of Contents:
- Report Overview
- 1 Research Scope
- 2 Key Sensor Fusion market segments
- 3 Target players
- 4 Market analysis by type
- 5 Market analysis by application
- 6 Key learning objectives
- 7 Report timeline
- Global Growth Trends
- 1 Global Sensor Fusion market size
- 2 Latest trends of the Sensor Fusion market by region
- 3 Key corporate trends
- Global Sensor Fusion Market share by key players
- 1 Global Sensor Fusion Market size by manufacturers
- 2 Global Sensor Fusion Market key players
- 3 Products/solutions/services of major players
- 4 New entrants in the Sensor Fusion market
- 5 Mergers, acquisitions, joint ventures, and expansion plans
- Global Sensor Fusion Market by product type
- 1 Global Sensor Fusion Sales by Product
- 2 Global Sensor Fusion by Product Revenue
Reasons to choose Emergen Research
- Regional Demand Forecasts and Forecasts
- Product price volatility
- Technology update analysis
- Location index analysis
- Raw material procurement strategy
- Competitiveness analysis
- Product composition matrix
- Vendor management
- Cost-effectiveness analysis
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