Microgrid Market Analysis On Trends & Need 2027 (Key Players: ABB, GE, Echelon, S&C Electric Co, General Microgrids, Microgrid Solar, Raytheon, Sunverge Energy, Toshiba, NEC, Aquion Energy, EnStorage, SGCC, Moixa, EnSync, Ampard,)

A microgrid is a small-scale power grid that can operate independently or in conjunction with the area’s main electrical grid. It is a group of interconnected loads and distributed energy resources within clearly defined electrical boundaries. It acts as a single controllable entity with respect to the grid. A microgrid can be connected to or disconnected from the grid to enable it to operate in both grid-connected and remote/island modes. Microgrids cater to various verticals, such as educational institutes, industrial, military, healthcare, government & utilities, and others (electric vehicles, data centres, and telecom infrastructure).

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Major Players operating in market includes: ABB, GE, Echelon, S&C Electric Co, General Microgrids, Microgrid Solar, Raytheon, Sunverge Energy, Toshiba, NEC, Aquion Energy, EnStorage, SGCC, Moixa, EnSync, Ampard, among others

Reliable and secure power supply is a critical parameter in any industry to work efficiently. Uninterrupted energy supply is a critical parameter in any country, which is vulnerable to the acts of terrorism, natural disasters, and other risks. Electricity generated by large, remote power plants in the centralised power grid is transmitted across regions and countries.

However, system shortcomings, primarily related to transmission inefficiency, have become increasingly evident, as conventional grids are largely dependent on fossil fuels that lead to pollution and global warming and are largely vulnerable to calamities. This usually results in network malfunction or blackouts.

During this research study, major players operating in the microgrid market in various regions have been identified, and their offerings, regional presence, and distribution channels have been analyzed through in-depth discussions. Top-down and bottom-up approaches have been used to determine the overall microgrid market size. Sizes of the other individual markets have been estimated using the percentage splits obtained through secondary sources such as Hoovers, Bloomberg BusinessWeek, and Factiva, along with primary respondents.

The entire procedure includes the study of the annual and financial reports of the top market players and extensive interviews with industry experts such as CEOs, VPs, directors, and marketing executives for key insights (both qualitative and quantitative) pertaining to the market. The figure below shows the breakdown of the primaries on the basis of the company type, designation, and region considered during the microgrid research study.

Americas is leading the market in terms of microgrid market share. The microgrid market in APAC is expected to grow at the highest CAGR between 2020 and 2027. The highest growth of the microgrid market in APAC can be attributed to the rising number of rural electrification projects in India, along with increasing investments made by both national and international companies, such as ABB, Siemens, SunEdison, and Omnigrid. All these factors are pushing the demand for microgrid in APAC.

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The following are the major objectives of the study:
• To describe, and forecast the global microgrid market, in terms of value, by type, offering, and vertical
• To forecast the size of market segments with respect to 4 major regions: Americas, Europe, APAC, and RoW
• To strategically analyse the micro-markets with respect to individual growth trends, prospects, and contributions to the overall microgrid market
• To provide detailed information regarding the major factors (drivers, restraints, opportunities, and challenges) influencing the microgrid market growth
• To analyse competitive developments such as new product developments, collaborations, partnerships, and research and development in the microgrid market
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