Global Microgrid Market Observational Studies 2025 Followed By Top Companies like GE, Siemens, Honeywell, Eaton, Chevron, Cummins Inc., Green Energy Corp, Power Analytics Corporation, S&C Electric Company, Advanced Microgrid Solutions , Caterpillar Inc.,

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Global microgrid market is expected to register a healthy CAGR in the forecast period 2018 to 2025. The new market report contains data for historic year 2016, the base year of calculation is 2017 and the forecast period is 2018 to 2025.

The increased demand of automated grid systems, reduction in carbon footprint, advancement in microgrid connectivity by integration of IOT, and benefits of low cost and clean energy storage is the prominent factors driving the growth of this market.

Major Competitors/ Company Profiles

Some of the Key players in the Global Microgrid Market are

General Electric Company, Siemens AG, Honeywell International Inc., Eaton Corporation Plc. , Chevron Corporation, Cummins Inc., Green Energy Corp., Power Analytics Corporation, S&C Electric Company, Advanced Microgrid Solutions, Caterpillar Inc., Exelon Corporation, Tesla Inc., Toshiba Corporation, are among others whose company profiles are included in the Global Microgrid Market Report.

Key Drivers: Global Microgrid Market

The increased demand of automated grid systems, reduction in carbon footprint, advancement in microgrid connectivity by integration of IOT, and benefits of low cost and clean energy storage is the prominent factors driving the growth of this market.

Key Points: Global Microgrid Market

In 2017, the global microgrid market is dominated by ABB with market share of 21.4%, followed by General Electric Company 14.8%, Siemens AG 10.1%, Honeywell International Inc. 8.2%, Eaton Corporation PLC 6.1% and others 39.4%.

• The DC microgrid segment is dominating the global microgrid market.

• Hybrid segment is expected to grow with the highest CAGR of 25.0% in the forecast period 2018 to 2025.

Target Audience:

• Microgrid Providers
• Cloud Service Providers
• IT Service Providers
• Software Solution Providers
• Government Bodies
• Enterprise Data Center Professionals

Are among the others mentioned in the Global Microgrid Market report.

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INCREASED DEMAND OF AUTOMATED GRID SYSTEMS

The rapid industrialization has come up with the need of stable power supply with automated reliable system.

The automated grids provide demand-sensitive pricing strategies with focus on efficient electric power supply. The microgrid is the part of automated grid systems. As the demand of automated grid systems has increased, this in turn has boosted the demand for microgrid.
Many of the industries had grasped automated grid systems for fulfilling their energy requirements. These grids enable two-way communication between the utility and its consumers. It is mostly used in healthcare and military verticals where the need for power is much more as compared to other sectors. The automated grid systems provide exceptional opportunity for energy industries for creating reliable, stable, and efficient power source. Today, an electricity disruption such as a blackout can have a most dangerous effect on various verticals such as healthcare, military, and industrial. These automated grid systems also provide the software applications that helps to manage and control the grid usage as well as track your monthly statement of electric power. The automated grid systems are smart grid that permits user to have a view on their consumption rate of each day, month, or year. It also provides information about power quality and rate of power consumption within a certain period.

The major advantage of automated grid systems is that they rely on the renewable source of energy for producing the electricity and also produce less or no environmental damage. This grid starts automatically when it senses the power cut and uses its stored power as a backup for providing the non-interrupted electricity. For instance, Siemens AG (U.S.) product named SICAM Microgrid Controller. It provides automatic startup feature and also provide automatic derivation of required system response. The smart grid offers automated grid systems. It allows local industries and campuses increase the electricity supply quickly and efficiently through local generators rather than waiting for power to be supplied from the centralized power plants.

Many top leading companies are collaborating and partnering to develop new technological solitons for providing smart microgrid. Recently in June 2018, Siemens AG (Germany) has signed a contract with Lempaalan Energia Oy (Finland) to develop a self-sufficient smart grid in the Marjamaki industrial area. The Siemens AG (Germany) to provide grid automation system with medium-voltage microgrid and electrical storage system for generating the power. This smart grid to provide target to supply 3,600 megawatt hours of power using two clusters of solar panel.

The increase in demand for automated grid systems has led to increase in microgrid market.

Market Segmentation:

• The global microgrid market is segmented based on grid type into three notable segments; AC microgrid, DC microgrid, and hybrid. In 2018, DC microgrid segment is valued to rule with the highest CAGR.

• The global microgrid market is segmented based on connectivity into two notable segments grid connected and remote/island. In 2018, grid connected segment is valued to rule with the highest CAGR.

• The global microgrid market is segmented based on offering into hardware, software, and services. The hardware segment is further sub-segmented into switchgears, power inverters, smart meters, reciprocating engines, and energy storage systems and power generators. The energy storage systems and power generators segment is further sub-segmented into power generators and energy storage systems. The power generator includes fuel cells and diesel gensets, chp and micro-chp, micro turbines, and renewables (PV cells, wind based, and others). The energy storage systems include lithium-ion batteries, lead-acid batteries, flywheels, flow batteries, and others. The services segment is further sub-segmented into engineering and design, monitoring and control, and operations & maintenance. In 2018, software segment is valued to rule with highest CAGR.

• The global microgrid market is segmented based on vertical into five notable segments healthcare, educational institutions, industrial, military, and electric utility. The industrial segment is further sub segmented as steel, mining, and others. The utility segment is further sub-segmented into urban electrification and rural electrification. In 2018, healthcare segment is valued to rule with the highest CAGR.

• The global microgrid market is segmented based on power into natural gas, combined heat and power, diesel, solar, fuel cells, others. In 2018, solar segment is valued to rule with highest the CAGR.

• Based on geography, the market is segmented into 5 geographical regions, North America, Europe, Asia-Pacific, South America and Middle East and Africa.

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