Microgrid Market Size, Share, Development by 2023
Microgrid is a localized power system comprised of distributed generation assets, energy storage devices, and smart distribution technologies that interoperates through controls and software-based intelligence systems.
North America is currently the largest microgrid market, having captured nearly half of all vendor revenue activity. The region holds a nearly identical market share (48.59%) compared with data presented in 2016 .
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Global Microgrid Market: Forecast by Type / Application / Region
ABB, GE and Echelon captured the top three revenue share spots in the Microgrid market in 2016. ABB dominated with 7.53 percent revenue share, followed by GE with 5.64 percent revenue share and Echelon with 5.03 percent revenue share.
The second place is Asia regions; following North America with the Revenue market share over 27.83% in 2016. Europe is another important consumption market of Microgrid Technology.
Microgrid Technology used in industry including Campus/Institutional Microgrid, Community/Utility Microgrid, Commercial/Industrial Microgrid, Military Microgrid and Remote Microgrid. Report data showed that 41.79% of the Microgrid Technology market demand in Campus/Institutional Microgrid, 24.24% in Commercial/Industrial Microgrid, and 21.28% in Community/Utility Microgrid in 2016.
There are two kinds of Microgrid Technology, which are Grid-Tied Type Microgrid and Independent Type Microgrid. Grid-Tied Type Microgrid is important in the Microgrid Technology, with a Installed Capacity market share nearly 78.30% in 2016.
Briefly speaking, in the next few years, Microgrid Technology industry will still be a rapid development industry. Sales of Microgrid Technology have brought a lot of opportunities, there will more companies enter into this industry, especially in developing countries.
Over the next five years, LPI(LP Information) projects that Microgrid will register a 15.0% CAGR in terms of revenue, reach US$ 26300 million by 2023, from US$ 11400 million in 2017.
Global Microgrid Market: Key Players
S&C Electric Co
Green Energy Corp
Growing Energy Labs Inc
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United States Microgrid Market Research Report 2018
Europe Microgrid Market Research Report 2018
North America Microgrid Market Research Report 2018
Asia-Pacific Microgrid Market Research Report 2018
China Microgrid Market Research Report 2018
EMEA Microgrid Market Research Report 2018
Global Microgrid Market Research Report 2018
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