Press release
Demand for Microgrid Market in 2021-2031
๐ ๐ถ๐ฐ๐ฟ๐ผ๐ด๐ฟ๐ถ๐ฑ ๐ ๐ฎ๐ฟ๐ธ๐ฒ๐: ๐๐ป๐๐ฟ๐ผ๐ฑ๐๐ฐ๐๐ถ๐ผ๐ปSwift industrialization together with increased demand for power is expected to boost growth avenues in the global microgrids market in the forthcoming years, states a new research report by TMR. The study highlights that the market is estimated to expand at a CAGR of 11.3% during the forecast period of 2021-2031, considering the base year as 2020. Thus, the market is all set to garner the valuation of US$ 206.1 Bn by the end of 2031.
๐๐ฒ๐ ๐ฃ๐๐ ๐๐ฎ๐บ๐ฝ๐น๐ฒ ๐ณ๐ผ๐ฟ ๐๐ป๐ฑ๐๐๐๐ฟ๐ถ๐ฎ๐น ๐๐ป๐๐ถ๐ด๐ต๐๐ ๐ฎ๐ป๐ฑ ๐ฏ๐๐๐ถ๐ป๐ฒ๐๐ ๐๐ป๐๐ฒ๐น๐น๐ถ๐ด๐ฒ๐ป๐ฐ๐ฒ @ https://www.transparencymarketresearch.com/sample/sample.php?flag=S&rep_id=236
Microgrid refers to a localized grid with an ability to connect and disconnect with conventional utility grids in order to offer superior level of grid resilience and reliability. Thus, microgrid works as an interconnection between loads within well-defined electric boundaries and distributed energy sources. Microgrids can be operated autonomously; therefore, they are increasingly utilized throughout major grid failures. Thus, the device assists in mitigating risks occurring due to grid failures and disturbances. Based on connectivity, the global microgrid market can be segregated into grid-tied (grid-connected) and off-grid.
๐ฉ๐ถ๐ฒ๐ ๐๐ผ๐บ๐ฝ๐น๐ฒ๐๐ฒ ๐ฅ๐ฒ๐ฝ๐ผ๐ฟ๐ @ https://www.transparencymarketresearch.com/microgrid-market.html
๐๐ฑ๐๐ฎ๐ป๐๐ฎ๐ด๐ฒ๐ ๐ผ๐ณ ๐ ๐ถ๐ฐ๐ฟ๐ผ๐ด๐ฟ๐ถ๐ฑ๐ ๐๐ผ ๐๐๐ฒ๐น ๐๐ฒ๐บ๐ฎ๐ป๐ฑ
Microgrids are gaining traction owing to a wide range of advantages they offer. Integration of distributed energy generation sources, including renewables, integration of several smart grid technologies, and grid modernization are some of the key advantages of microgrids. Moreover, the device assists in providing local loads with the help of local power sources. This allows minimizing distribution and transmission losses, thereby achieving increased overall efficiency of system.
๐๐ป๐พ๐๐ถ๐ฟ๐ ๐๐ฒ๐ณ๐ผ๐ฟ๐ฒ ๐๐๐๐ถ๐ป๐ด @ https://www.transparencymarketresearch.com/sample/sample.php?flag=EB&rep_id=236
Microgrids work as a helpful tool to macrogrids, as they can handle power inconsistencies from regional renewable sources and provide ancillary services to bulk power systems and sensitive loads. Owing to all these advantages, there is extensive growth in product utilization across varied applications such as community & utility, campus & institution, defense & military, remote island, and commercial & industrial sectors. This is expected to generate promising sales avenues in the global microgrids market in the forthcoming years.
๐๐ป๐ฐ๐ฟ๐ฒ๐ฎ๐๐ฒ ๐ถ๐ป ๐จ๐๐ฎ๐ด๐ฒ ๐ผ๐ณ ๐ ๐ถ๐ฐ๐ฟ๐ผ๐ด๐ฟ๐ถ๐ฑ๐ ๐ฑ๐๐ฟ๐ถ๐ป๐ด ๐๐ฟ๐ถ๐๐ถ๐ฐ๐ฎ๐น ๐ช๐ฒ๐ฎ๐๐ต๐ฒ๐ฟ ๐๐ผ๐ป๐ฑ๐ถ๐๐ถ๐ผ๐ป๐ ๐๐ผ ๐๐ผ๐ผ๐๐ ๐ ๐ฎ๐ฟ๐ธ๐ฒ๐
Macrogrids have to deal with the issue of grid instability during critical weather conditions as well as natural disaster situations. In this scenario, microgrid work as a helpful tool. On-site microgrid systems are gaining traction, owing to their capability to be used during floods, earthquakes, and tornadoes. In addition, these systems are increasingly utilized as substitutes for traditional grids during power outage. Government bodies of many countries from all across the globe are focusing on the strategic use of microgrids near hospitals, pharmacies, gas stations, grocery stores, and police stations in order to deal with various emergency situations.
๐ฅ๐ฒ๐พ๐๐ฒ๐๐ ๐๐๐๐๐ผ๐บ๐ถ๐๐ฎ๐๐ถ๐ผ๐ป @ https://www.transparencymarketresearch.com/sample/sample.php?flag=CR&rep_id=236
๐๐๐ถ๐ฎ ๐ฃ๐ฎ๐ฐ๐ถ๐ณ๐ถ๐ฐ: ๐ฃ๐ฟ๐ผ๐บ๐ถ๐ป๐ฒ๐ป๐ ๐๐ฟ๐ผ๐๐๐ต ๐ฅ๐ฒ๐ด๐ถ๐ผ๐ป ๐ผ๐ณ ๐ ๐ถ๐ฐ๐ฟ๐ผ๐ด๐ฟ๐ถ๐ฑ ๐ ๐ฎ๐ฟ๐ธ๐ฒ๐
The global microgrid market has been classified into Latin America, North America, Asia Pacific, Middle East & Africa, and Europe. Asia Pacific is one of the key regions offering prodigious expansion avenues for vendors in the microgrid market. This regional growth can be attributed to many factors such as low electrification rate, low grid connectivity, and increased demand for power in Asia Pacific. The market is estimated to gather lucrative avenues over the next few years, owing to rapid urbanization and industrialization across many countries (including India and China).
The nature of the global microgrids market seems to be fairly fragmented with presence of many well-entrenched enterprises. This also highlights that the competition landscape is highly intense. General Electric, Siemens AG, ABB Group, S&C Electric Company, Engie Group, Schneider Electric SE, Echelon Corporation, Honeywell International Inc., Toshiba Corporation, Pareto Energy Limited, Power Analytics Corporation, and Duke Energy Corporation are some of the key participants of the global microgrid market.
๐๐ฏ๐ผ๐๐ ๐ง๐ฟ๐ฎ๐ป๐๐ฝ๐ฎ๐ฟ๐ฒ๐ป๐ฐ๐ ๐ ๐ฎ๐ฟ๐ธ๐ฒ๐ ๐ฅ๐ฒ๐๐ฒ๐ฎ๐ฟ๐ฐ๐ต
Transparency Market Research, a global market research company registered at Wilmington, Delaware, United States, provides custom research and consulting services. The firm scrutinizes factors shaping the dynamics of demand in various markets. The insights and perspectives on the markets evaluate opportunities in various segments. The opportunities in the segments based on source, application, demographics, sales channel, and end-use are analysed, which will determine growth in the markets over the next decade.
Our exclusive blend of quantitative forecasting and trends analysis provides forward-looking insights for thousands of decision-makers, made possible by experienced teams of Analysts, Researchers, and Consultants. The proprietary data sources and various tools & techniques we use always reflect the latest trends and information. With a broad research and analysis capability, Transparency Market Research employs rigorous primary and secondary research techniques in all of its business reports.
๐๐ผ๐ป๐๐ฎ๐ฐ๐:
Nikhil Sawlani
Transparency Market Research Inc.
CORPORATE HEADQUARTER DOWNTOWN,
1000 N. West Street,
Suite 1200, Wilmington, Delaware 19801 USA
Tel: +1-518-618-1030
USA - Canada Toll Free: 866-552-3453
Website: https://www.transparencymarketresearch.com/
Blog: https://tmrblog.com/
Email: sales@transparencymarketresearch.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 Demand for Microgrid Market in 2021-2031 here
News-ID: 2795893 • Views: โฆ
More Releases from Transparency Market Research

Global Solar Powered Agricultural Dryer Market to Exceed USD 2.4 Billion by 2031 โฆ
The global solar powered agricultural dryer market, valued at US$ 1.6 billion in 2022, is projected to grow at a CAGR of 5.8% from 2023 to 2031, reaching US$ 2.4 billion by the end of 2031. Rising investments in renewable energy, growing awareness of sustainable agricultural practices, and the rapid expansion of the agricultural sector driven by population growth are key factors fueling market growth.
Uncover essential discoveries and trends fromโฆ

Technetium-99m Market Forecast 2034: Rising Demand for Diagnostic Imaging and Ra โฆ
The global Technetiumโ99m Market was valued at US$ 6.0 Billion in 2023 and is projected to grow at a CAGR of 3.3% from 2024 to 2034, surpassing US$ 8.6 Billion by the end of the forecast period. Advancements in nuclear imaging infrastructure, government-backed healthcare initiatives, and an increasing demand for precise diagnostic procedures are fueling this growth.
Discover essential conclusions and data from our Report in this sample -
https://www.transparencymarketresearch.com/sample/sample.php?flag=S&rep_id=77100
Analysts' Viewpoint
The Technetiumโ99mโฆ

Equine Diagnostic Services Market Outlook 2030: From US$ 168 Million in 2019 to โฆ
The global Equine Diagnostic Services Market, valued at approximately US$ 168 million in 2019, is projected to expand at a compound annual growth rate (CAGR) of ~5% from 2020 to 2030, reaching around US$ 280 million by 2030. Equine diagnostic services, encompassing tests like genetic, infectious disease, and imaging diagnostics, are critical for managing horse health in veterinary hospitals, clinics, and mobile settings. The market is driven by increasing equineโฆ

Digital Printing Market to Reach USD 54.4 Billion by 2034, Growing at a CAGR of โฆ
The digital printing market is experiencing strong growth, driven by rapid technological advancements, rising demand for personalized and on-demand printing, and an increasing focus on sustainable solutions. Digital printing allows for the direct transfer of digital files onto a wide range of substrates, offering high-resolution output with greater speed and flexibility. Its adaptability has led to broad adoption across industries such as packaging, textiles, publishing, and advertising-sectors where customization, efficiency,โฆ
More Releases for Microgrid
Microgrid Technology Market Report- Trends, Segmentation, Market Growth | Genera โฆ
The Microgrid Technology Market research report offers data regarding new recent developments, import/export analysis, value chain optimization, and trade regulations. In addition, other data like Microgrid Technology Market size, strategic market share, localized market players, analyses of opportunities in the emerging revenue pockets, strategic Microgrid Technology Market growth, product launches, geographical expansions, and technological innovations are also encompassed in Microgrid Technology Market report.
Get FREE PDF Sample of the Report @โฆ
Microgrid Quick Quote Tool
May 18, 2021 | Scale Microgrid Solutions: We are excited to announce that we have developed a Microgrid Quick Quote tool that is now available for facilities located within the PG&E and SCE utility service areas.
Weโve always aimed to simplify microgrid projects, like with our Rapid Response Modular Microgrid (R2M2), which expedites the project development timeline and reduces costs by leveraging a modular, productized solution. Now, you can take theโฆ
Microgrid Market
Microgrids are a managed network of linked charges and dispersed power sources that interact with the main power grid in a synchronised and synchronous way. These grids can also operate through off-grid and remote areas in disconnected mode, and work autonomously based on economic and physical conditions.
Microgrid market is expected to grow at a CAGR of 10.8% in the forecast period of 2020 to 2027. Data Bridge Market Research reportโฆ
Microgrid Market Opportunities and Challenges
The report "Microgrid Market by Connectivity (Grid Connected and Off-Grid Connected), Offering (Hardware and Software & Services), End-Use (Commercial & Industrial, Remote, Instituites & Campuses), Grid Type, Pattern, Region - Global Forecast to 2025", is projected to reach USD 47.4 billion by 2025 from USD 28.6 billion in 2020, at a CAGR of 10.6% between 2020 and 2025. Rising demand for clean energy, increasing instances of cyberattacks on energy infrastructures,โฆ
Global Microgrid Market
The Microgrid market was valued at USD 25.5 billion in the year 2019. It is projected to grow at a CAGR of 10.9% over the period 2020 -2026.
The current situation of the COVID-19 pandemic has impacted the global Microgrid market in a negative way such that it is expected to experience a notable decline. Because of the imposition of lockdown in different countries, the demand for power has been declinedโฆ
Microgrid Control System Market
Microgrid Control System Market research report delivers a close watch on leading competitors with strategic analysis, micro and macro market trend and scenarios, pricing analysis and a holistic overview of the market situations in the forecast period.
Get Exclusive FREE Sample Copy Of this Report @ https://www.upmarketresearch.com/home/requested_sample/107776
UpMarketResearch offers a latest published report on โGlobal Microgrid Control System Market Analysis and Forecast 2019 - 2025โ delivering key insights and providing a competitiveโฆ