A Steady Ride Up for the Microgrid Market in 2017?

The Global Microgrid Market has been estimated at USD XX billion in 2016 and is projected to reach USD XX billion by 2022, at a CAGR of XX% during the forecast period from 2016 to 2022. Microgrid is a semi-autonomous grouping of generating sources and end-use sinks that are placed and operated for the benefit of its members, which may be one utility which is a grouping of several sites, or dispersed sites that nonetheless operate in a coordinated fashion. The supply sources may include reciprocating engine generator sets, micro-turbines, fuel cells, photovoltaics and other small-scale renewable generators, storage devices, and controllable end-use loads. All controlled sources and sinks are interconnected in a manner that enables devices to perform the Microgrid control functions unnecessary for traditional Distributed energy resources (DER). For example, the energy balance of the system must be maintained by dispatch, and non-critical loads might be curtailed or shed during times of energy shortfall or high costs. While capable of operating independently of the macro-grid, the Microgrid usually functions interconnected, purchasing energy and ancillary services from the macro-grid as economic, and potentially selling back at times.

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This market is driven by a number of factors, such as cost generation reduction, increased reliability, Strong enough to withstand fluctuations, penetration of grid interconnection of high renewables. However, this market faces certain drawbacks, such as time constraints for the purchase / sale of power from / to the national grid, reserve for variation in energy demand. These factors may act as a roadblock to the growth of the market. Scope for new technological innovation can be seen as an opportunity. This market can be broadly segmented into customer microgrids or true microgrids, utility or community microgrids or milli grids, virtual microgrids, remote power systems. This technology has applications in many areas where the end users can be institutional / campus sites (which can be further divided into hospitals universities), commercial / industrial facilities, remote off grid communities, military bases, data centers, municipalities. Market study indicates that Institutional or campus sites accounts for the largest share in this market. Based on the size the micro grid can be divided into generation resources types, storage and advanced controls.

The market has also been geographically segmented into North America, Asia-Pacific, Europe, Middle East & Africa, and Latin America, with North America occupying the largest consumer base in the world. Europe and APAC follow the list in the same order. The policy changes in the countries in North America have made this region an area of immense potential and opportunities. However, the price sensitivity in this region has considerably hindered the growth of this market. The market has more relevance today since trends show that countries are turning towards more sustainable and efficient ways of power distributions. This technology is specially inclined for the countries which want to see transition in terms of its power networks in order to reduce the power distribution losses. The major companies dominating this market for its products, services, and continuous product developments are Alstom Grid, Arista Power, Bloom Energy, Boeing Smart Grid Solutions, Chevron Energy Solutions, DONG Energy, Encorp, GE Digital Energy, Honeywell, Johnson Controls, Inc., Lockheed Martin, Rolls-Royce Power Development, S&C Electric Company, S&C Electric Company, San Diego Gas & Electric, Schneider Electric, Siemens AG. The technology offers a huge potential of change in the traditional inefficient power distribution networks.

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Key Deliverables in the Study
1. Market analysis for the global microgrids market, with region specific assessments and competition analysis on global and regional scales
2. Market definition along with the identification of key drivers and restraints
3. Identification of factors instrumental in changing the market scenarios, rising prospective opportunities, and identification of key companies that can influence this market on a global and regional scale
4. Extensively researched competitive landscape section with profiles of major companies along with their market shares
5. Identification and analysis of the macro and micro factors that affect the global microgrids market on both global and regional scales
6. A comprehensive list of key market players along with the analysis of their current strategic interests and key financial information
7. A wide-ranging knowledge and insights about the major players in this industry and the key strategies adopted by them to sustain and grow in the studied market
8. Insights on the major countries/regions in which this industry is blooming and to also identify the regions that are still untapped

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