Microgrid Market: Development, Current Analysis and Estimated Forecast to 2026| Eaton Corporation, Schneider Electric SE, ABB, Caterpillar Inc, Hitachi, Tesla

Considering the geographical landscape, estimates claim that the Asia-Pacific microgrid market is estimated to grow by 22% through the year 2026. Growing demand for electricity along with surging investments in urban and industrial development is driving the market growth.

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Companies covered (16):

1)Eaton Corporation
2)Siemens Ag
3)GE Alstom
4)Schneider Electric SE
5)ABB
6)Caterpillar Inc
7)Homer Energy LLC
8)EnSync Energy Systems
9)Lockheed Martin Corporation
10)Hitachi
11)Honeywell International
12)Exelon Corporation
13)Toshiba Corporation
14)Advanced Microgrid Solutions
15)Viridity Energy
16)Tesla

Microgrid Market will witness an annual installation of over 13 GW by 2026. Ongoing integration of sustainable energy technologies coupled with accelerating deployment of captive power generation sources will positively influence the technology adoption.

Growth Drivers:-

*Renewable energy integration
*Integration of renewable energy technologies
*Growing demand for off grid electricity
*Government program toward electrification
*Increasing electricity demand

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Key findings of the microgrid market report comprises of:

oIncreasing demand for reliable and uninterrupted electricity supply
oIncreasing investments toward urban and industrial area development across developing nations
oFavorable regulatory policies toward electrification of rural and remote areas
oKey industry players operating in the industry includes Siemens, ABB, Schneider, and Honeywell
oLithium-ion batteries are gaining significant growth on account of there efficient and effective performance and longer life cycle

By Connectivity
o Grid connected
o Off-grid

By Grid Type
o AC microgrid
o DC microgrid

By Power Source
o Diesel generator
o Natural gas
o CHP
o Solar PV
o Others

By Storage
o Lithium-ion
o Lead acid
o Flow batteries
o Flywheel
o Others

By Application
o Healthcare
o Educational Institutes
o Military
o Utility
o Industrial/Commercial
o Remote
o Others

Frequently Asked Questions (FAQ) :

What is a microgrid system?
How much will the global market for microgrid grow in next few years?
Which factors are fueling European industry demand for microgrid?

Methodology -

At Global Market Insights, our researchers and domain experts use a unique blend of primary and secondary research, with validation and iterations at every stage, in order to minimize deviation and present the most accurate analysis of the industry. The research process begins with extensive data mining, using authentic sources such as trade magazines, technical publications, independent studies along with paid avenues such as ICIS, Hoovers, etc. Primary objectives of data mining include:

Definition and scope of research
Market dynamics, growth drivers and industry pitfalls
Regulatory and political guidelines for the industry
Demographics and statistical data

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