openPR Logo
Press release

Microgrid Market Strategies, Industry Size, Competitive Landscape Leading Players & Future Forecast by 2023

03-15-2019 08:16 AM CET | IT, New Media & Software

Press release from: Market Research Future

Microgrid Market Strategies, Industry Size, Competitive

Market Research Future published research report on “Microgrid Market - Forecast to 2023” Market Analysis, Scope, Stake, Progress, Trends and Forecast to 2023. Microgrid Market Provide comprehensive Information, by End-User (Industrial, Education, Healthcare, Military & Defence, Electric Utility), by Type (Off Grid, Hybrid Grid, Smart Grid) by Forecast 2022

Globally the market for Microgrid Market is expected to grow at the rate of more than 10% from 2018 to 2022

Global Microgrid Market to Witness a CAGR of 10.28% Between 2018 and 2023

As per the latest study conducted by Market Research Future (MRFR), the global microgrid market is likely to increase from USD 18.74 Bn in 2017 to more than USD 33 Bn by 2023, reflecting a double-digit CAGR. There is a shift from centralized energy systems to more dynamic power distribution system such as microgrid, which is a typical decentralized power generation model. This is partly due to the continuous evolution of industries, which is necessitated development of power solution that are future-ready. Microgrid Market systems is highly advanced and has is preferred solution for overcoming energy consumption issues faced by industries. Moreover, they are environmental viable and reduce energy wastage and thereby likely to draw substantial commercial interest in the years to come.

Get Free Sample Copy Report of Microgrid Market @

The need for secure and reliable power supply has increased significantly in recent years. Electrification of localities being a symbol of development, remains a major agenda in several emerging economies. Power consumption has continued to grow in recent years, due to rapid urbanization and industrialization in fast-developing countries such as China, Brazil, India and Mexico. As the world population becomes larger, power consumption is also expected to increase. The aforementioned factors are likely to make a positive influence on the global microgrid market.

Emergence of Internet of Thinks and development of larger connected ecosystems has increased the reliance on uninterrupted power supply, which is aptly supported by microgrid. Many of the modern enterprise are shifting to microgrids to support operations. In order to create a sustainable power supply system, large-scale sector such as healthcare, defence and automotive are converging there IoT ecosystems with microgrids.

The traditional modes of power generation are falling short of required capacity, as demand is growing at an overwhelming rate whereas a shy increase is noticed in generation capacity. At the same time, cost of power generation has also increased substantially hence there is greater need for alternative option. In advanced countries, the adoption of microgrid is relatively faster as compare to developing countries. Lack of awareness and poor infrastructure are two of the major reasons behind the sluggish expansion of microgrid in the developing countries. However, market opportunities are expected to increase in Asia Pacific (APAC) and the Middle East & Africa (MEA) as many of the countries in these regions are witnessing tremendous urbanization and investments towards bolstering the power generation capacity.

The study covers the market across Europe, Asia Pacific, North America, Latin America, and the Middle East. The market in North America is expected to remain highly attractive over the next several years. Local policymakers in the region are focusing towards development of sustainable power generation models, which is paving the way for the market. Also, US and Canada are early adopters of microgrid, which makes them important investment destinations for players. The microgrid market is projected to exhibit a healthy growth in North America over 2023. Europe also holds a key position in the global microgrid market. EUs efforts to promote adoption of clean technology and use of eco-friendly solutions of generating power is likely to drive the installation of microgrids across the region.

Global Microgrid Market: Competitive Landscape

Leading companies profiled in the report include Eaton PLC (US), Siemens AG (Germany), S&C Electric Company (US), Exelon Corporation (US), Honeywell International Inc. (US), General Electric Company (US), Power Analytics Corporation (US), Microgrid Energy LLC (US), ABB Ltd (Switzerland), Schneider Electric (France), Tesla Inc. (US), General MicroGrids Inc. (US)¸ Powerhive Inc. (US), Go Electric (US), Anbaric Development Partners (US), Dajie (China), Spirae Inc (US), Advanced Microgrid Solutions (US), Gram Power (India) and Pareto Energy Ltd (US).

Microgrid - Segmentation

By component, the market is segmented into hardware, software, and services. Hardware is further segmented into switchgear, relays, transformers, inverters, uninterrupted power supply (UPS), and others. Services is further segmented into design and implementation service, monitoring & control services, and operations & maintenance services

By type, the market is segmented into off-grid, smart grid, hybrid grid, and others.

By consumption, the market is segmented into urban, semi-urban, rural, and others

By end-user, the market is segmented into healthcare, education, industrial, military & defence, electric utility, and others

Microgrid - Regional Analysis

The regional analysis of global microgrid market is being studied for region such as Asia–Pacific, North America, Europe and rest of the world. North America dominates the global microgrid market during the forecast period. US among other countries in North America hold the largest market share for microgrid product due expanding microgrid limit among other provincial economies. Additionally, the developing industrialization and necessity of viable jolt in the area is fuelling North America predominance in the microgrid market. In Europe, with increasing investment by government & key companies to improve energy security and reliability is one of the factor for the growth for microgrid market in the region. Similarly, Asia-pacific is the fastest growing region due to presence of economies such as China, Japan, India, South Korea and others. The Asia-Pacific region is growing due to growing government initiatives for creating awareness about renewable energy sources among the consumers and high demand of microgrid machines in military & defense sector is fuelling the market.

Get Complete Report of Microgrid @

Target Audience:

• Raw material providers
• Microgrid system manufacturers
• Energy storage providers
• Hardware providers
• Research & consultancy
• Government & utilities
• End-user sectors
• Technology investors

About Market Research Future:

At Market Research Future (MRFR), we enable our customers to unravel the complexity of various industries through our Cooked Research Report (CRR), Half-Cooked Research Reports (HCRR), Raw Research Reports (3R), Continuous-Feed Research (CFR), and Market Research & Consulting Services.

Contact Us:
Market Research Future
Office No. 528, Amanora Chambers
Pune – 411028
Maharashtra, India
Phone: +91 841 198 5042

This release was published on openPR.

Permanent link to this press release:

Please set a link in the press area of your homepage to this press release on openPR. openPR disclaims liability for any content contained in this release.

You can edit or delete your press release Microgrid Market Strategies, Industry Size, Competitive Landscape Leading Players & Future Forecast by 2023 here

News-ID: 1656181 • Views: 200

More Releases from Market Research Future

Clinical Trial Management System Market Demand, Industry Share, Size, Applicatio …
Clinical Trial Management System Market Analysis by Type (Enterprise Clinical Trial Management System), Delivery Model (Licensed Enterprise), Component (Service) and End-User (Medical Device Manufacturers), and Regional Competitive Share, Size and Trends, 2018-2023 Market Overview Clinical Trial Management System Market is mostly a software system which helps to plan, prepare, and manage a large amount of clinical trials data that is produced by biotechnological and pharmaceutical companies. Drug research has gained momentum in
Reusable Satellite Launch Vehicle (RSLV) Market 2019-2023 | Report Information b …
Global Reusable Satellite Launch Vehicle Market Report Information by Configuration (Single Stage, Multiple Stage), by Type (Partially Reusable, Fully Reusable), Vehicle Weight (Up to 4,000lbs, 4000-9000lbs, Over 9000lbs), & by Region - Forecast Till 2023 The Reusable satellite launch vehicle market is estimated to witness a CAGR of more than 12% during the forecast period from 2018 to 2023. The key players in the reusable satellite launch vehicle market are Airbus S.A.S
Bakery Enzymes Market Global Research Report and Top Key Players: AB Enzymes Gmb …
Market Overview The increasing demand for bakery products in the food and beverage industry including, bread, cookies, and pastries are raising the demand for bakery enzymes at a global level. Enzymes are an important ingredient used in most bakery products. There are two scenarios regarding the use of enzymes, either the enzymes are used to convert the raw material into the main product, or the enzymes are used as additives to
Commercial Airport Lighting Market 2019-2023 | Worldwide Overview By Technology, …
Global Commercial Airport Lighting Market Research Report: Information by Technology (LED, Non-LED), by Application (Airside Lighting, Terminal Lighting, Landside Lighting), and by Region — Forecast till 2023 Honeywell International Inc., (US), ADB SAFEGATE (US), ABB (Switzerland), vosla GmBH (Germany), Avlite (Australia), Carmanah (Canada), Eaton (Ireland), atg airports limited (UK), Avionics Group (US), and HELLA GmBH & Co. KGaA (Germany) are some of the prominent players profiled in MRFR Analysis and are

All 5 Releases

More Releases for Microgrid

Microgrid Control System Market
Microgrid Control System Market research report delivers a close watch on leading competitors with strategic analysis, micro and macro market trend and scenarios, pricing analysis and a holistic overview of the market situations in the forecast period. Get Exclusive FREE Sample Copy Of this Report @ UpMarketResearch offers a latest published report on “Global Microgrid Control System Market Analysis and Forecast 2019 - 2025” delivering key insights and providing a competitive
Microgrid Market Size, Share, Development by 2023
New report published by Market Research Report Store (MRRS) which offers insights on the global Microgrid market. 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
Microgrid Market - Potential Growth Analysis 2017 - 2025
Global Microgrid Market: Overview A microgrid differentiates itself from traditional grid with its capability to work independently as a local energy grid during crisis times such as power outages and storms. Apart from providing a grid backup, microgrids can work to connect to unreliable or small-sized local resources, cut costs, and become more environment-friendly at times. Microgrids can operate indefinitely depending on the management of its fuel and other requirements.
Microgrid Market : Growth, Trends & Forecasts 2017 – 2025
Global Microgrid Market: Overview A microgrid differentiates itself from traditional grid with its capability to work independently as a local energy grid during crisis times such as power outages and storms. Apart from providing a grid backup, microgrids can work to connect to unreliable or small-sized local resources, cut costs, and become more environment-friendly at times. Microgrids can operate indefinitely depending on the management of its fuel and other requirements.
Global Microgrid Technology Market Technology Progress,Industry Demand and Analy …
Microgrid Technology Market is Set to Grow According to the Expected CAGR A microgrid may be a small-scale installation that may operate severally or in conjunction with the area's main electrical grid. Any small-scale localized station with its own power resources, generation and masses and determinable boundaries qualifies as a microgrid. The Global  Microgrid Technology Market skilled Survey Report scrutinizes the prevailing state of affairs and also the destiny growth potentialities of the business. It covers the market place
Global Microgrid Market 2017 - Siemens, General Microgrids, Microgrid Solar, Ray …
Worldwide Microgrid Market 2017 presents a widespread and fundamental study of Microgrid industry along with the analysis of subjective aspects which will provide key business insights to the readers. Global Microgrid Market 2017 research report offers the analytical view of the industry by studying different factors like Microgrid market growth, consumption volume, market trends and Microgrid industry cost structures during the forecast period from 2017 to 2022. Microgrid market studies the