The size of the Microgrid market is expected to reach 2021 from $ 246 billion by 2028 at a CAGR of 11% from 2022-2028 to $ 423 billion. Microgrids are small power grids with defined boundaries that can act as “islands” when connected to a larger electrical grid and when there are interruptions in the main grid. It uses decentralized energy resources such as solar power to serve customers within the microgrid space. These benefits extend to surrounding communities through reliable energy, providing better access to food, supplies and public services. The growth of the microgrids market is driven by factors such as increased attention to DE carbonization by various end users and governments, increased demand for uninterruptible power supplies, increased adoption of microgrids for rural electrification, and increased cases of cyber-attacks on energy infrastructure. The efforts of governments in several countries to encourage the development of microgrids are also fueling the growth of the industry.
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Company Profile
- Raytheon
- S&C Electric Co
- Eaton Corporation
- Sunverge Energy
- Siemens
- Toshiba
- General Microgrids
- Lockheed Martin
Market Segmentation
By the type, the market is primarily split into
- Grid-Tied
- Independent
By the application, this report covers the following segments
- Commercial or Industrial Microgrid
- Community or Utility Microgrid
- Campus or Institutional Microgrid
- Military Microgrid
- Remote Microgrid
Scope of the Report
The research study analyzes the Microgrid industry from 360-degree analysis of the market thoroughly delivering insights into the market for better business decisions, considering multiple aspects some of which are listed below as:
Recent Developments
o Market Overview and growth analysis
o Import and Export Overview
o Volume Analysis
o Current Market Trends and Future Outlook
o Market Opportunistic and Attractive Investment Segment
Geographic Coverage
o North America Market Size and/or Volume
o Latin America Market Size and/or Volume
o Europe Market Size and/or Volume
o Asia-Pacific Market Size and/or Volume
o Rest of the world Market Size and/or Volume
Key Questions Answered by Microgrid Market Report
- What was the Microgrid Market size in 2020 and 2021; what are the estimated growth trends and market forecast (2022-2028).
- What will be the CAGR of Microgrid Market during the forecast period (2022-2028)?
- Which segments (product type/applications/end-user) were most attractive for investments in 2022? How these segments are expected to grow during the forecast period (2022-2028).
- Which manufacturer/vendor/players in the Microgrid Market was the market leader in 2021?
- Overview on the existing product portfolio, products in the pipeline, and strategic initiatives taken by key vendors in the market.
The report covers the following objectives:
- Proliferation and maturation of trade in the Microgrid market.
- The market share of the Microgrid market, supply and demand ratio, growth revenue, supply chain analysis, and business overview.
- Current and future market trends that are influencing the growth opportunities and growth rate of the Microgrid market.
- Feasibility study, new market insights, company profiles, investment return, revenue (value), and consumption (volume) of the Microgrid market.
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