openPR Logo
Press release

How Microgrid Market Will Dominate In Coming Years? Key Players: ABB, Schneider Electric, Encorpl Schweitzer Engineering Laboratories , Siemens, S&C Electric, PowerSecure, Spirae, Power One Solutions, Emerson Automation Solutions, CleanSpark, Honeywell, P

How Microgrid Market Will Dominate In Coming Years? Key Players:

The global microgrid market is likely to gain traction in the coming years due to the uptake of renewable energy sources, resulting from the growing awareness regarding climate change. According to a report by Fortune Business Insights, titled “Microgrid Market Size, Share and Global Trend By Type (Grid-connected, Hybrid Cycle), By End User (Educational Institutes, Military & Defence, Hospitals, Remote Areas, Commercial & Industrial) and By Geography Forecast till 2026,” the market is likely to expand considerably in the coming years due to the abilities of microgrid system to harness energy and enable optimum use, thereby minimizing waste.

For more information in the analysis of this report, visit: https://www.fortunebusinessinsights.com/industry-reports/microgrid-market-100406

The increasing use of conventional sources has had a negative impact on the environmental conditions. With the increasing use, there is a need to develop their product alternatives that would preferably work on non-conventional sources. This has led to the emergence of energy harnessing systems integrated with concepts that would suffice optimum energy use. The naturally available non-conventional sources can be harnessed and used for several purposes in the industrial sector and domestic purposes.

Among all sources, the sun provides an unlimited amount of energy, due to which, the emphasis is inclined towards harnessing solar energy to its maximum. The ability of microgrid systems to operate through renewable energy sources has led to a rising uptake of microgrid, around the world.

Segmentation

1. By Type
• Grid-connected
• Off-grid
2. By End User
• Educational Institutes
• Military & Defence
• Hospitals
• Remote Areas
• Commercial & Industrial
3. By Geography
• North America (USA and Canada)
• Europe (UK, Germany, France, Italy, Spain, Russia and Rest of Europe)
• Asia Pacific (Japan, China, India, Australia, Southeast Asia and Rest of Asia Pacific)
• Latin America (Brazil, Mexico and Rest of Latin America)
• Middle East & Africa (South Africa, GCC and Rest of Middle East & Africa)

Request a Sample Copy of the Global Market Research Report: https://www.fortunebusinessinsights.com/enquiry/request-sample-pdf/microgrid-market-100406

Key Market Driver – Demand for an uninterrupted and reliable source of power

Key Market Restraint – Higher initial investment for micro-grid infrastructure

Incorporation of Artificial Intelligence in Microgrid will Fuel Demand

The use of artificial intelligence in microgrid has enabled maximum energy utilization. In recent years, athere have been several operational trials regarding the use of AI in microgrids. After many successful trials, it is seen that predictive algorithms in AI can be successfully used to improve yield and generate enhanced system efficiencies. In July 2018, BlueWave-AI and Sustainable Power Systems came together in a bid to create an advanced microgrid system.
The device was built to optimize distributed renewable energy source, with the help of continuous data learning. An innovative product is a key to stand out in a competitive market and BlueWave-AI has laid a strong foundation for growth, with its latest device. Fortune Business Insights states that AI-centred product innovations have the potential to enable growth of the global microgrid market. The report includes innovations similar to BlueWave-AI’s latest device and gauges their impact on the global market.

Key Market Driver – Demand for an uninterrupted and reliable source of power

Key Market Restraint – Higher initial investment for micro-grid infrastructure

Key Industry Developments

• In Marche 2019, Georgia Power in collaboration with Georgia Tech will build a new 1.4 MW microgrid in Tech Square at Metro Atlanta.

• In January 2019, ABB is planning to install microgrid with battery storage at the campus of IIT, Roorkee as a part of smart campus development. This is a part of R&D collaboration outlined in MoU between ABB and IIT Roorkee signed in July 2018.

• In October 2018, Small island nation Palau in the western Pacific signed a 30-year power purchase agreement (PPA) with Engie EPS for world’s largest microgrid. Palau is targeting 45% increase in renewables by 2025 to reduce energy emissions.

Have any Query? Speak to Analyst at: https://www.fortunebusinessinsights.com/enquiry/speak-to-analyst/microgrid-market-100406

Top Players Overview:

• ABB
• Schneider Electric
• Encorp
• Schweitzer Engineering Laboratories
• Siemens
• S&C Electric
• PowerSecure
• Spirae
• Power One Solutions
• Emerson Automation Solutions
• CleanSpark
• Honeywell
• Power Analytics and Exelon Corporation.

As Investors Eye Energy-Preserving Projects, Microgid Market Gathers Momentum
The recent climate change and adverse effects of pollution on the environment have triggered a huge awareness regarding energy conservation. Governments across the world have been putting in more efforts to harness energy in an optimized manner. The contributions from government bodies include awareness programs, initiatives, and subsidies favoring projects that are inclined towards energy conservation. As microgrids play a centric role in energy-conserving projects, the demand for microgrids will increase in the coming years. Altogether, the increasing demand for microgrids will favor the growth of the global microgrid market in the forthcoming years.

Request for Customization: https://www.fortunebusinessinsights.com/enquiry/customization/microgrid-market-100406

Key Industry Developments

• In Marche 2019, Georgia Power in collaboration with Georgia Tech will build a new 1.4 MW microgrid in Tech Square at Metro Atlanta.

• In January 2019, ABB is planning to install microgrid with battery storage at the campus of IIT, Roorkee as a part of smart campus development. This is a part of R&D collaboration outlined in MoU between ABB and IIT Roorkee signed in July 2018.

• In October 2018, Small island nation Palau in the western Pacific signed a 30-year power purchase agreement (PPA) with Engie EPS for world’s largest microgrid. Palau is targeting 45% increase in renewables by 2025 to reduce energy emissions.

Contact Us:
Fortune Business Insights Pvt. Ltd.
308, Supreme Headquarters,
Survey No. 36, Baner,
Pune-Bangalore Highway,
Pune - 411045, Maharashtra, India.

Phone:
US :+1 424 253 0390
UK : +44 2071 939123
APAC : +91 744 740 1245
Email: sales@fortunebusinessinsights.com

About Us
Fortune Business Insights™ offers expert corporate analysis and accurate data, helping organizations of all sizes make timely decisions. We tailor innovative solutions for our clients, assisting them to address challenges distinct to their businesses. Our goal is to empower our clients with holistic market intelligence, giving a granular overview of the market they are operating in.

Our reports contain a unique mix of tangible insights and qualitative analysis to help companies achieve sustainable growth. Our team of experienced analysts and consultants use industry-leading research tools and techniques to compile comprehensive market studies, interspersed with relevant data.

At Fortune Business Insights™ we aim at highlighting the most lucrative growth opportunities for our clients. We, therefore, offer recommendations, making it easier for them to navigate through technological and market-related changes. Our consulting services are designed to help organizations identify hidden opportunities and understand prevailing competitive challenges.

Contact Us
Fortune Business Insights™ Pvt. Ltd.
308, Supreme Headquarters,
Survey No. 36, Baner,
Pune-Bangalore Highway,
Pune - 411045, Maharashtra, India.

Phone
US :+1 424 253 0390
UK : +44 2071 939123
APAC : +91 744 740 1245

Email: sales@fortunebusinessinsights.com

This release was published on openPR.

Permanent link to this press release:

Copy
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 How Microgrid Market Will Dominate In Coming Years? Key Players: ABB, Schneider Electric, Encorpl Schweitzer Engineering Laboratories , Siemens, S&C Electric, PowerSecure, Spirae, Power One Solutions, Emerson Automation Solutions, CleanSpark, Honeywell, P here

News-ID: 1897023 • Views: 67

More Releases from Fortune Business Insights Pvt. Ltd.

What’s driving the Bucket Elevators Market Growth? Prominent Players: ZUTHER G …
The global bucket elevator market size is projected to reach USD 1,287.1 million by 2026, exhibiting a CAGR of 5.7% during the forecast period. Steady growth in the construction industry to be the key growth driver for this market, according to the new Fortune Business Insights™ report, titled “Bucket Elevator Market Size, Share & Industry Analysis, By Type (Centrifugal and Continuous), By Industry (Cement, Food & Beverages, Chemical, Power &
What's driving the Offshore Drilling Market Growth? Prominent Players: Archer - …
The global offshore drilling market size is slated to reach USD 56.97 billion by 2026, exhibiting a CAGR of 7.9% during the forecast period. Surging demand for electricity worldwide is expected to drive the growth of this market, states Fortune Business Insights™ in its new report, titled “Offshore Drilling Market Size, Share and Industry Analysis, By Rig Type (Drill-ships, Semi-submersibles, and Jackups), By Water Depth (Shallow Water, Deepwater, and Ultra-Deepwater),
What's driving the AC Drive Market Growth? Prominent Players: ABB, Siemens, Danf …
The global AC drives market size was USD 10.39 billion in 2018 and is projected to reach USD 15.62 billion by 2026, exhibiting a CAGR of 5.2% during the forecast period. The rising awareness about green energy sources across the world is transforming the energy and power industry. The trend of green energy is emerging on account of increasing environmental pollution from traditional energy resources. Governments are playing a significant
What's driving the Smart Building Market Growth? Prominent Players: Cisco, Hitac …
The global smart building market size was USD 43.64 billion in 2018 is projected to reach USD 109.48 billion by 2026, exhibiting a CAGR of 12.6% during the forecast period.The rising awareness about green energy sources across the world is transforming the energy and power industry. The trend of green energy is emerging on account of increasing environmental pollution from traditional energy resources. Governments are playing a significant role in

All 5 Releases


More Releases for Key

Global Fumaric Acid Market with Key Regions,Key Vendors
The 'Global Fumaric Acid (CAS 110-17-8) Market Outlook 2018-2023' offers detailed coverage of fumaric acid industry and presents main market trends. The market research gives historical and forecast market size, demand, end-use details, price trends, and company shares of the leading fumaric acid producers to provide exhaustive coverage of the market for fumaric acid. The report segments the market and forecasts its size, by volume and value, on the basis
Roofing Coatings Market Key strategic undertakings of key players 2025
Global Roofing Coatings Market: Snapshot The revival of the global economy from the economic downturn that happened in the last decade is providing an upthrust to several industries worldwide, including construction. The expansion of the global construction industry is one of the primary factors stoking the growth of the global roofing coatings market. The construction sector is progressing at a brisk pace in emerging regions such as Asia Pacific, making these
Global Luxury Bag Market Key Development, Key Opportunities
Qyresearchreports include new market research report Global Luxury Bag Market Research Report 2018 to its huge collection of research reports. The global Luxury Bag market is carefully assessed in this report which holds the primary objective of informing its readers about rewarding business prospects and advancements in the industry. Besides studying lucrative opportunities available in the market, the analysts shed light on value forecasts, market restraints, growth factors, and trends. The
Agrochemicals Market: Overview,Key Trends,Opportunities,Dynamics,and Key players
Agrochemicals are specialty chemical products used particularly in agriculture, horticulture and floriculture. It includes broad range of pesticides, synthetic fertilizers, hormones and other chemical growth agents.There are mainly two basic market segment of agrochemicals namely, fertilizers and pesticides. Fertilizers are further segmented in four categories namely nitrogenious, potassic, phosphatic and others. Different segment of Pesticides includes insecticides, herbicides, bio-pesticides and others. For more information about this Report visit @ https://www.persistencemarketresearch.com/market-research/sustainable-insulation-market.asp Growth in
Building Sealant Market 2017 Global Research Report Focuses on key Regions, Key …
ResearchMoz added Latest Research Report titled " Global Building Sealant Market Research Report 2017 " to it's Large Report database. In this report, the global Building Sealant market is valued at USD XX million in 2016 and is expected to reach USD XX million by the end of 2022, growing at a CAGR of XX% between 2016 and 2022. Geographically, this report is segmented into several key Regions, with production, consumption, revenue
Bluetooth Key
Global and China Bluetooth Key Market 2016-2021 Market Research Report The report Bluetooth Key offers a detailed impact analysis of the key trends shaping the Industry. The Industry determinants, i.e. drivers, restraints, opportunities, and threats have been covered in the report. The research study delivers a detailed analysis of the consumer trends that are influencing the Industry. The impact analysis of the Industry drivers, restraints, and opportunities is presented in the