Microgrid Market And Top Key Players are ABB Ltd. (Swiss), General Electric (American), Siemens AG (German) and Schneider Electric (French)

With gadgets becoming smarter and the world getting smaller, efficient and reliable energy delivery systems like Microgrids have seen a colossal hype in the market.

The market value of the microgrids was found to be US$XXBn in 2015 and is expected to reach US$ XXBn by 2022, with a CAGR of XX% during the forecast period.

The difference between conventional grids and microgrids is that with a conventional power grid, blackout at utility company's substation would cause all users to lose power, even people with local sources of power. In contrast, Microgrids use conventional centralized energy sources, but users also have localized sources of energy (say, a diesel generator or a solar panel) that areindependent of the utility source. Thus, users can independently manage and distribute their power.

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Home management system allows two way communication between homes and utility company. With microgrid, power cuts due to natural disturbances, such as thunderstorms, will be non-existent.

Microgrids can be useful at various levels-from individual homes to huge enterprises- any organization that is searching for an efficient arrangement to deliver energy is a potential customer.

Market Dynamics:

The reason for the anticipated boom in the microgrid market is simple. Development of firms providing highly efficient services (like IT) - with no scope for a second's delay. Increased networking amongst real life objects- providing the user more and more information, and rapid urbanization, with cities growing smarter and more independent. One of the less frequently mentioned factors include environmental imbalance which has increased the frequency of abrupt thunderstorms, cyclones and tornados over the years.

Market Segmentation:

The market comprises of Software and Hardware providers and integrators. The market is segmented on the basis of level of complexity in terms of control, source of energy harnessed (Wind, solar, Hydroelectric), which again,depend on the geography. Initiallymostmicrogridsrelied on wind energy, but development in the field of solar panels and the consistency of solar energy in many parts of the world has made solar energy type microgrids the most powerful.

Geographical Analysis

Currently, leading consumer of microgrid systems is the Asia-Pacific region, followed by North America. However, it is expected that North Americawould achieve market leadership in the near future. Microgrid is not a single technology, but rather, a combination of systems that can be exploited by diverse vendors across the globe. Opportunities in the field can also be vaguely related to the quest to find better sources of sustainable energy and corresponding advances in the technology.

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Key Players:

Some of the leading hardware providers in the microgrid market include ABB Ltd. (Swiss), General Electric (American), Siemens AG (German) and Schneider Electric (French). List of leading software providers include HOMER Energy LLC (American), Power Analytics Corporation (U.S.) and Siemens AG (German); while in system integrators, Eaton Corporation PLC (Irish) and HOMER Energy LLC (U.S.) take the lead.

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This release was published on openPR.