U.S. Microgrid Market is Expected to Reach Over 2 GW by 2024 | Key Players are Siemens, GE Alstom, Caterpillar, Lockheed Martin Corporation, Emersion, EnSync Inc, Exelon Corporation, Viridity Energy

The U.S. microgrid market is predicted to reach over 2 GW by 2024. Increasing adoption of sustainable energy technology to reduce reliance on existing network. Growing spending across renewable energy resource in the nation will further drive the industry growth. In 2016, as per IEA, the U.S. funded more than USD 250 billion to promote the development of renewable technologies across the countries.

Key players across microgrid market include Siemens, GE Alstom, Caterpillar, Lockheed Martin Corporation, ABB, Power Analytics Corporation, Emersion, EnSync Inc, Exelon Corporation, Schneider Electric, Honeywell, Viridity Energy Inc and Advanced Microgrid Solutions.

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Installation of captive power generation facilities with an aim to maintain continuous electricity supply across industrial sector will stimulate the microgrid market. Favourable government measures to maintain central grid stability along with measures toward power security concern will propel the industry growth. Advancement in technology in development of control distribution unit and energy efficient storage system will further complement the business landscape.

Increasing investment toward industrial sector along with rapid urbanization across developing nation will positively impact the Utility microgrid market. Increasing demand for electricity across commercial & industrial sectors along with increasing adoption of heavy load machinery and HVAC system in industrial sector will further fuel the industry growth.

Flow battery microgrid market will witness growth owing to its ability to offer higher efficiency and longer life cycle features. Growing spending to promote the development and deployment of renewable energy technologies coupled with ongoing innovation to improve design of energy storage solution to enhance efficiency and reduce cost will further enhance the product penetration.

Natural gas microgrid market share will grow owing to increasing investment toward drilling of unconventional resource across Russia, China and the U.S. Ability to offer less environmental impact over other conventional sources will make its adoption preferable. In August 2016, Government of China signed agreement with Capstone turbine to supply microturbine for 10 MW project.

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Japan microgrid market is set to witness strong growth on account of favourable measures to promote the adoption of renewable technology along with rising energy security concern. Increasing government funding towards several R&D projects coupled with deployment of virtual private network to reduce energy crisis will propel the industry growth. In 2017, Japanese Ministry of Economy, Trade and Industry collaborated with Panasonic to construct solar PV powered microgrid network to supply electricity to more than 100 houses in western Japan.

Some Points From Table Of Content: -

Chapter 4. Microgrid Market, By Connectivity
4.1. Microgrid market share by connectivity, 2016 & 2024
4.2. Grid connected
4.2.1. Market estimates and forecast, 2013-2024
4.2.2. Market estimates and forecast, by region, 2013-2024
4.3. Off-Grid
4.3.1. Market estimates and forecast, 2013-2024
4.3.2. Market estimates and forecast, by region, 2013-2024

Chapter 5. Microgrid Market, By Grid Type
5.1. Microgrid market share by grid type, 2016 & 2024
5.2. AC Microgrid
5.2.1. Market estimates and forecast, 2013-2024
5.2.2. Market estimates and forecast, by region, 2013-2024
5.3. DC Microgrid
5.3.1. Market estimates and forecast, 2013-2024
5.3.2. Market estimates and forecast, by region, 2013-2024
5.4. Hybrid
5.4.1. Market estimates and forecast, 2013-2024
5.4.2. Market estimates and forecast, by region, 2013-2024

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