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Microgrid - Market Outlook | Recent Trends and Growth Forecast 2020-2025

New research report on Microgrid market, which is a detailed analysis of this business space inclusive of the trends, competitive landscape, and the market size. Encompassing one or more parameters among product analysis, application potential, and the regional growth landscape, Microgrid market also includes an in-depth study of the industry's competitive scenario.0

Microgrid Market will witness an annual installation of over 13 GW by 2026. Ongoing integration of sustainable energy technologies coupled with accelerating deployment of captive power generation sources will positively influence the technology adoption.

- Favorable regulatory policies toward electrification of rural and remote areas

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- Increasing demand for reliable and uninterrupted electricity supply

Microgrid - Market Outlook | Recent Trends and Growth Forecast 2020-2025
Microgrid - Market Outlook | Recent Trends and Growth Forecast 2020-2025

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- Key industry players operating in the industry includes Siemens, ABB, Schneider, and Honeywell

- Increasing investments toward urban and industrial area development across developing nations

- Lithium-ion batteries are gaining significant growth on account of there efficient and effective performance and longer life cycle

Growing investments toward distributed generation technologies on account of increasing demand for reliable power supply will boost the industry growth. Shifting trends toward natural gas based power generation sources coupled with ongoing government backed electrification programs will foster the microgrid market growth. In addition, rapid development of industrial and urban areas primarily across the emerging economies will boost the product demand. Furthermore, the leading industry players are extensively focusing toward Asia Pacific and other developing regions as there are large opportunities for microgrid installation.

Favorable regulatory policies including tax rebates, FITs, subsidies and investment tax credits have significantly enhanced the deployment of solar PV as a generation source. In addition, the rapid decline in component prices along with rapid research & development activities to enhance the operational flexibility and product efficiency will propel the industry growth. Furthermore, ongoing installation of solar technology across industrial and off-grid areas will augment the industry growth.

The Asia Pacific microgrid market is anticipated to grow over by 22% by 2026. Exponential increase in investments toward development industrial and urban areas along with extensive government plans to provide electricity to all citizens will stimulate the industry growth. In addition, the developed economies including Japan and South Korea are also focusing on security of supply and integration of clean energy technologies to provide long term benefits to its citizens. Furthermore, the government have also laid down extensive plans to provide reliable and uninterrupted electricity along with creating awareness toward the benefits associated with renewable technologies.

Grid failure, voltage fluctuations, lack of effective power network and current lags are some of the key features which have promoted the adoption of microgrids across the remote applications. The regulators are focusing toward integrating various initiatives and program to provide a sustainable grid network across the off-grid areas. Henceforth, growing energy demand from isolated areas and upsurge in deployment of distributed generation technology will positively influence the product demand. In addition, accelerating investments toward development of manufacturing sector including chemical and food & beverage industry along with extensive R&D activities by both private and public players will provide favorable opportunities for business expansion.

Major Highlights from Table of contents are listed below for quick lookup into Microgrid Market report

Chapter 1. Methodology and Scope

  • Definitions & forecast parameters
  • Methodology and forecast parameters
  • Data Sources

Chapter 2. Executive Summary

  • Business trends of Microgrid Market
  • Product trends
  • Application trends

Chapter 3. Microgrid Industry Insights

  • Microgrid Market Industry segmentation
  • Industry landscape
  • Analysis of Manufacturers in the Microgrid industry
  • Distribution channel analysis
  • End-use landscape
  • Vendor matrix
  • Microgrid Market Technology & innovation landscape
  • Industry impact forces
  • Microgrid Market Growth drivers
  • Industry pitfalls & challenges
  • Key trends by Segments

Chapter 4. Company Profiles

  • Business Overview of Microgrid Market Companies
  • Financial Data
  • Product Landscape
  • Strategic Outlook and Decisive Analysis of companies in Microgrid Market
  • SWOT Analysis

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