Press release
Microgrid Market Share to Surge with USD 60 billion by 2028 - The Insight Partners
The Insight Partners
APAC dominated the microgrid market with ~36% share in 2021. A few of the aspects fueling the growth of the microgrid market in APAC countries are mentioned below.
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Microgrid market is expected to grow from US$ 25 billion in 2021 to US$ 60 billion by 2028; it is estimated to grow at a CAGR of 17.0% during 2022-2028.
- Large portion of populations in these countries lack access to electricity.
- Many innovators in the microgrid market are based in Asian countries, including Australia, China, and Japan, which are building capabilities to promote the use of microgrids in the industrial sector.
- APAC countries depend on energy-as-a-service business models.
- Key enablers driving the penetration of microgrids include development modular microgrids and connected microgrids since IoT is prevailing in Asian economies.
The microgrid market is segmented on the basis of type, component, and end-use industry. Based on type, the market is segmented into grid connected and off-grid. The market, by component, is segmented into hardware, software, and services. Further, on the basis of end-use industry, the microgrid market is segmented into military, healthcare, government and utilities, institutes, industrial, and others.
REGIONAL FRAMEWORK
The report provides an overview and forecast of the global microgrid market based on various segments, emphasizing both qualitative and quantitative information. It also provides market size and forecast for the period of 2020-2028 with respect to five major regions-North America, Europe, Asia Pacific (APAC), the Middle East and Africa (MEA), and South America. The microgrid market in each region is subsegmented into respective countries and other segments. The report covers an analysis and forecast of 18 countries, along with current trends and opportunities prevailing in the abovementioned regions.
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Email: sales@theinsightpartners.com
Phone : +1-646-491-9876
About Us:
The Insight Partners is a one stop industry research provider of actionable intelligence. We help our clients in getting solutions to their research requirements through our syndicated and consulting research services. We specialize in industries such as Semiconductor and Electronics, Aerospace and Defense, Automotive and Transportation, Biotechnology, Healthcare IT, Manufacturing and Construction, Medical Device, Technology, Media and Telecommunications, Chemicals and Materials.
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