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Global Microgrid Market By Type (Grid-Connected, Off-Grid), By Component (Hardware, Software), By Power Source (Natural Gas, Solar PV, others), By End-User (Military, Healthcare, Others), By Region–Forecast & Opportunities to 2026

Report Description

The Microgrid market was valued USD 25.5 billion in the year 2019. It is project to Grow at a CAGR of 10.9% over the period 2020 -2026.

Due the current situation of 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 of power has been declined rapidly, because as we know due to lockdown mostly commercial and operations have been halted.

Definition:

A Microgrid is a energy grid which contains control ability features via which it can disconnect itself from traditional grid. It can operate autonomously even without any support of a centralized grid. It can be termed as a decentralized grid. It consists of a distributed energy resources & interconnected loads within defined electrical boundaries that work as a single controllable entity with respect to the main grid. The microgrid can function in both scenario, when it is connected to the main grid as well as when it is not connected to the main grid. This microgrid helps in reduction in harmful emissions from renewable energy resources.

Market Dynamics (Drivers/Opportunities):

World has set a clear energy goals to conserve energy. Everyone along with communities and businesses are trying to reduce the effects of power generation on the environment. Microgrids are specialized to use green power production technologies and equipment such as micro turbines, combustion turbines, hybrid systems, and wind systems. All this technologies are integrated with microgrids so that it can reduce impact of carbon of electricity generation on the environment.

Governments of multiple countries across the globe are taking great initiatives in order to reduce the impacts of carbon on the environment. In 2016, the Government of California (US) constructed legislation, SB 32 Bill, in order to reduce carbon impacts on the environment resulting from power generation, to battle the climate change. According to this legislation, California is projected to see a reduction in its carbon pollution to at least 40% by 2030 below the carbon pollution levels of 1990. Thus, the awareness has been rising about clean energy has open a wide opportunity for Microgrid market.

Multiple regions such as Asia-pacific, etc are investing in projects to harness alternative electricity generation sources like solar energy and wind so the electricity can reach to all areas with the region and it also helps in meeting the electricity needs. Renewable sources of energy are being utilized for generation of electricity is expected to generate huge growth opportunities for the microgrid market in various regions. Thus, creating ample opportunities for the microgrid market.

 

Market Insights, Type

Microgrid market is segmented into Off-Grid and Grid-connected by type. Out of which the grid connected segment is the market dominating segment. It comprises of distribution system, generators and sophisticated controls. Grid connected segment provides improved quality power and they also have low impact on environment. This segment is expected to maintain its dominance in the market over the forecast period

Market Insights, Power source

Fuel cell is projected to witness a volume growth at a CAGR of XX% over the period of 2020 to 2026. The ability of fuel cells to operate at high temperatures along with negligible electrolytic loss is very important feature. This feature is expected to be very fruitful in order to promote the market scope in future.

Solar PV is another segment based on power source. This segment is projected to witness a growth at a CAGR of XX% over the period of 2020- 2026. Developed Countries like U.S., Germany, Japan and U.K. are working on upscaling the power output Solar PV, this countries will have a positive impact over the years on this segment.

Market Insights, End-User

Microgrid market is segmented into Education institutes, Government utilities, Healthcare, Military, Industrial and others. Out of these segments the education segment is accounted for maximum market share. It is accounted for XX% of the total volume share in the year 2019. In developing countries such as India, China etc, the government is taking initiatives towards developing the infrastructure of schools has created a positive impact on this segment

The industrial sector of this segment is expected to see a volume growth for the period of 2020 to 2026 at a CAGR of XX%. Power supply is extensively required for ensuring lighting and operating electronic goods in schools, hospitals, corporate offices, and retail outlets are Expected to have a high impact on the market.

Regional Insights

In 2019, North America region was accounted for XX% of global volume share. This sector has very high adoption rate power generation methods in various sectors involving industrial and municipal sectors of the U.S. this will reduce the dependence on the government-controlled power supply.

Asia Pacific is expected to foresee revenue growth at a CAGR of XX% from 2020 to 2026.  Since this region involves many developing countries where the market is growing in this sector will have a positive impact on this market over the period of 2020-2026

Key Companies & Market Share Insights

Market is dominated by companies like ABB, GE, Eaton, Honeywell, Exelon corporation, S&C electric, Siemens, Power analytics corporation, Microgrid energy LLC, Schneider Electric SE, Homer energy LLC, Pareto, Tesla, General Microgrids

Global Microgrid Market Size & Forecast (2017-2026)

  1. Research Framework
    • Market Definition and Product Overview
    • Market Segmentation
  2. Research Methodology
    • Qualitative Research
      • Primary & Secondary Sources
    • Quantitative Research
      • Primary & Secondary Sources
    • Breakdown of Primary Research Respondents, By Region
      • Secondary Research
      • Primary Research
    • Breakdown of Primary Research Respondents, By Industry Participants
      • Market Size Estimation
      • Assumption for the Study
      • Market Breakdown & Data Triangulation
  3. Executive Summary
    • Market Snapshot
  4. Industry Insights
    • Industry ecosystem analysis
      • ValueChain Analysis
    • Industry impact and forces
      • Growth Drivers
      • Challenges &Restraints
      • Opportunities
    • Disruptive Technological Analysis
    • Regulatory framework
      • North America
      • Europe
      • Asia Pacific
      • Middle East & Africa
      • South America
    • Growth potential analysis, 2019
    • Porter’s Five forces analysis
    • Pricing Analysis
      • North America
      • Europe
      • Asia Pacific
      • Middle East & Africa
      • South America
  1. COVID – Impact Analysis
    • North America
    • Europe
    • Asia Pacific
    • Middle East & Africa
    • South America
  2. Microgrid Market, By Type, Market Size & Forecast To 2026

(USD Million 2017,2018, 2019, 2020, 2021-e-2026-p)

  • Introduction
  • Grid Connected
  • Off-Grid
  1. Microgrid Market, By Component, Market Size & Forecast To 2026

(USD Million 2017,2018, 2019, 2020, 2021-e-2026-p)

  • Introduction
  • Hardware
  • Software
  1. Microgrid Market, By Power Source, Market Size & Forecast To 2026

(USD Million 2017,2018, 2019, 2020, 2021-e-2026-p)

  • Introduction
  • Natural Gas
  • Solar PV
  • Diesel
  • Fuel Cells
  • Others
  1. Microgrid Market, By End-User, Market Size & Forecast To 2026

(USD Million 2017,2018, 2019, 2020, 2021-e-2026-p)

  • Introduction
  • Educational Institutes
  • Military
  • Government & Utilities
  • Healthcare
  • Industrial
  • Others
  1. Microgrid Market, By Region, Market Size & Forecast To 2026

(USD Million 2017,2018, 2019, 2020, 2021-e-2026-p)

  • Introduction
  • North America Market Size & Forecast To 2026
    • Market Overview
    • COVID-19 Impact
    • By Type
    • By Component
    • BY Power Source
    • BY End-User
    • BY Country
      • USA
        • By End-User
      • Canada
      • Mexico
    • South America Market Size & Forecast To 2026
      • Market Overview
      • COVID-19 Impact
      • By Type
      • By Component
      • BY Power Source
      • BY End-User
      • BY Country
        • Brazil
          • By End-User
        • Argentina
        • Chile
        • Rest of South America
      • Europe Market Size & Forecast To 2026
        • Market Overview
        • COVID-19 Impact
        • By Type
        • By Component
        • BY Power Source
        • BY End-User
        • BY Country
          • UK
            • By End-User
          • Germany
          • France
          • Italy
          • Rest of Europe
        • APAC Market Size & Forecast To 2026
          • Market Overview
          • COVID-19 Impact
          • By Type
          • By Component
          • BY Power Source
          • BY End-User
          • BY Country
            • China
              • By End-User
            • India
            • Japan
            • South Korea
            • Australia
            • Rest of APAC
          • Middle East & Africa Market Size & Forecast To 2026
            • Market Overview
            • COVID-19 Impact
            • By Type
            • By Component
            • BY Power Source
            • BY End-User
            • BY Country
              • Saudi Arabia
                • By End-User
              • UAE
              • Qatar
              • Kuwait
              • South Africa
              • Rest of Middle East & Africa
  1. Competitive Landscaping
    • Competitive Benchmarking
      • Market Share Analysis, 2019
      • Global Presence and Growth Strategies
        • Mergers & Acquisitions
        • New Product Launches
        • Investments Trends
        • R&D Initiatives
  1. Company Profile
    • ABB
      • Company Overview
      • Financial Overview
      • Product Portfolio
      • Recent Developments
      • SWOT Analysis
      • Strategic Outlook
    • GE
    • Eaton
    • Honeywell
    • Exelon corporation
    • S&C electric
    • Siemens
    • Power analytics corporation
    • Microgrid energy LLC
    • Schneider Electric SE
    • Homer energy LLC
    • Pareto,
    • Tesla
    • General Microgrids
    • SAP
  2. Appendix
    • Interrelated Market

 

Research Methodology

1.1     Research Methodology

The process of market research at PAN Market Consulting is very intuitive being iterative in nature and usually follows the path where Information gathered from secondary research is used to build data models, which are than validated from primary participants. Then same cycle repeats where, according to inputs from primary participants, additional secondary research is done, and new information type is again incorporated into data model. The process continues till desired level of information is not generated.

To calculate the market size, the report considers the revenue generated from the sales of the product/services. The revenue generated from the sales of product/services has been calculated through primary and secondary research. The report also analyses the key players operating in the market at the global level which are identified through secondary research and a corresponding detailed analysis of the top vendors in the market. The market size calculation also includes product segmentation determined using secondary sources and verified through primary sources.

1.2     Secondary Research

The secondary research source that are typically referred to include, but are not limited to:

  • Company websites, annual reports, financial reports, broker reports, investor presentations and SEC filings
  • Internal and external proprietary databases, relevant patent and regulatory databases
  • National government documents, statistical databases and market reports
  • News articles, press releases and web-casts specific to the companies operating in the market

The source for secondary research includes but is not limited to Factiva, Hoovers and Statista

SecondaryResearch

1.3     Primary Research

We conduct primary interviews on an ongoing basis with industry participants and commentators in order to validate data and analysis. A typical research interview fulfills the following end users:

  • It provides first-hand information on the market size, market trends, growth trends, competitive landscape, future outlook etc.
  • Helps in validating and strengthening the secondary research findings
  • Further develops the analysis team’s expertise and market understanding
  • Primary research involves E-mail interactions, telephonic interviews as well as face-to-face interviews for each market, category, segment and sub-segment across geographies

The participants who typically take part in such a process include, but are not limited to:

  • Industry participants: CEOs, VPs, marketing/ product managers, market intelligence managers and national sales managers
  • Purchasing managers, technical personnel, distributors and resellers
  • Outside experts: Investment bankers, valuation experts, research analysts specializing in specific markets
  • Key opinion leaders specializing in different areas corresponding to different industry end users

1.4     Models

Where no hard data is available, we use modeling and estimates in order to produce comprehensive data sets. A rigorous methodology is adopted in which the available hard data is cross referenced with the following data products to produce estimates:

  • Demographic data: Population split by segment
  • Macro-economic indicators: GDP, etc.
  • Industry indicators: Expenditure, product stage & infrastructure, sector growth and facilities.

Data is then cross checked by the expert panel.

1.4.1 Company Share Analysis Model

Company share analysis is used to derive the size of global market. As well as study of revenues of companies for last three to five years also provide the base for forecasting the market size and its growth rate. This model is built in following steps:

ResearchMethodology1

1.4.2 Revenue Based Modeling

Revenue based models can be built in two ways – Top-Down or Bottom-Up irrespective of industry. Market size estimated from company share analysis acts as a validation point for bottom-up approach whereas it acts as starting point for top-down approach.

ResearchMethodology2

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