Microgrid Market Is Likely To Witness Substantial Rise In Growth And Demand In The Forecast Period 2022-2031

The global microgrid market report by the business research company identifies the growing adoption of microgrids for rural electrification is expected to propel the growth of the microgrid market going forward. Rural electrification is progressing, with plans to provide energy 24 hours a day and connect rural communities, including micro, small, and medium-sized enterprises (MSME) businesses. For rural electrification, microgrids have several advantages over centralised infrastructure, including cost savings, environmental sustainability, and regional equity between urban and rural areas.

The global microgrid market is expected to grow from $9.63 billion in 2021 to $11.9 billion in 2022 at a compound annual growth rate (CAGR) of 23.6%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, affecting many markets across the globe. The microgrid market is expected to grow to $25.04 billion in 2026 at a CAGR of 20.4%.

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North America was the largest region in the microgrid market in 2021. Asia Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the microgrid market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.

Major players in the microgrid market are ABB Ltd., Eaton Corporation, General Electric, Siemens AG, Schneider Electric SE, Honeywell International Inc., Advanced Microgrid Solutions, Anbaric Transmission, Canopy Power, Exelon Corporation, Ferroamp, General Microgrids, Go Electric, Gram Power, Toshiba Corporation, S&C Electric, Tesla, Caterpillar, Echelon Corporation, Pareto Energy Limited, and Engie Group.

The global microgrid market is segmented -
1) By Type: AC Microgrids, DC Microgrids, Hybrid
2) By Connectivity: Grid Connected, Off-grid Connected
3) By Component: Hardware, Software, Services
4) By Application: Remote Systems, Institutional Buildings, Commercial Utility
5) By End User: Commercial And Industrial, Institutes And Campuses, Military

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The Microgrid Market Report Contents Include
1. Executive Summary
2. Microgrid Market Characteristics
3. Microgrid Market Trends And Strategies
4. Microgrid Market - Macro Economic Scenario
5. Microgrid Market Size And Growth
....
26. Africa Microgrid Market
27. Microgrid Market Competitive Landscape And Company Profiles
28. Key Mergers And Acquisitions In The Microgrid Market
29. Microgrid Market Future Outlook And Potential Analysis
30. Appendix

This report covers the trends and market dynamics of the microgrid market in major countries - Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, and USA. The report also includes consumer surveys and various future opportunities for the market.

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