Microgrid Market Major Manufacturers, Production and Market Comparison Analysis upto 2024
Category: #world  By Partha Ray  Date: 2019-08-14
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Microgrid Market Major Manufacturers, Production and Market Comparison Analysis upto 2024

Growing off-grid networks across developing nations will complement the microgrid market outlook in next few years. Favorable government norms pertaining to integration of renewable energy technology coupled with ongoing measures to electrify rural and urban areas will foster the microgrid market share. Power reliability, economic competitiveness, relatively low power cost and reduced T&D losses are some of the key parameters which will boost the product adoption. Global microgrid market will exceed USD 19 billion by 2024, according to a new research report.

Flow battery in 2016, accounted for over 5% of the global microgrid market share. High-end investments toward integration of clean energy technologies along with technological advancement catered to the development of cost-effective energy storage solutions will augment the industry. Longer life cycles along with higher efficiencies as compared to its competitive counterparts will further complement the product outlook.

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Natural gas as a fuel is set to witness strong growth on account of increasing exploration of unconventional sources across the U.S., China and Russia. Ongoing adoption of fuel as a low emission substitute to conventional source will foster the microgrid market. In August 2016, Capstone Turbine signed a deal with the government of China to supply microturbine for 10 MW microgrid network.

The U.S. microgrid market is set to reach over 2 GW by 2024. Growing deployment of sustainable energy sources to reduce the dependence on existing electric networks will positively encourage the industry dynamics. Increasing investments across clean energy sources in the country will further propel the business landscape. According to IEA in 2016, the U.S. invested over USD 250 billion toward development of various energy sources across the nation.

Utility microgrid market is set to grow owing to the rapid industrialization and urbanization across the emerging economies. Escalating high-end electricity consumption backed by the presence of new HVAC and heavy load machinery systems in the industrial sector will foster the business growth.

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Deployment of captive power generation as a key alternative to the regulated electricity supply in industrial sector will positively impact the business growth. Regulatory inclination to maintain central grid stability coupled with growing measures toward security of power supply will fuel the microgrid market. Rapid technological advancements in line with the development of efficient energy storage systems and control distribution units will further complement the industry outlook.

Rising concerns toward energy security coupled with increasing adoption of sustainable energy sources will stimulate the Japan microgrid market. Government backed extensive research and development projects along with implementation of virtual private networks (VPPs) to mitigate emergency crisis will further embellish the business outlook. In 2017, Panasonic in collaboration with Japanese Ministry of Economy, Trade and Industry planned to build Solar PV powered microgrid to provide electricity to 117 homes in western Japan.

Eminent players across the microgrid market include ABB, Schneider Electric, Siemens, Advanced Microgrid Solutions, Emersion, GE Alstom, Honeywell, EnSync Inc, Caterpillar, Viridity Energy Inc, Lockheed Martin Corporation, Exelon Corporation and Power Analytics Corporation.

Report Content

 

Chapter 1. Methodology and Scope

 

1.1. Methodology

 

1.1.1.   Initial data exploration

 

1.1.2.   Statistical model and forecast

 

1.1.3.   Industry insights and validation

 

1.1.4.   Market definition & forecast parameters

 

1.2. Data Sources

 

1.2.1.   Primary

 

1.2.2.   Secondary

 

Chapter 2. Executive Summary

 

2.1. Microgrid industry 360 degree synopsis, 2014 - 2024

 

2.1.1.   Business trends

 

2.1.2.   Connectivity trends

 

2.1.3.   Grid type trends

 

2.1.4.   Power source trends

 

2.1.5.   Storage device trends

 

2.1.6.   Application trends

 

2.1.7.   Regional trends

 

Chapter 4. Microgrid Market, By Connectivity

 

4.1. Microgrid market share by connectivity, 2016 & 2024

 

4.2. Grid connected

 

4.2.1.   Market estimates and forecast, 2013-2024

 

4.2.2.   Market estimates and forecast, by region, 2013-2024

 

4.3. Off-Grid

 

4.3.1.   Market estimates and forecast, 2013-2024

 

4.3.2.   Market estimates and forecast, by region, 2013-2024

 

Chapter 5. Microgrid Market, By Grid Type

 

5.1. Microgrid market share by grid type, 2016 & 2024

 

5.2. AC Microgrid

 

5.2.1.   Market estimates and forecast, 2013-2024

 

5.2.2.   Market estimates and forecast, by region, 2013-2024

 

5.3. DC Microgrid

 

5.3.1.   Market estimates and forecast, 2013-2024

 

5.3.2.   Market estimates and forecast, by region, 2013-2024

 

5.4. Hybrid

 

5.4.1.   Market estimates and forecast, 2013-2024

 

5.4.2.   Market estimates and forecast, by region, 2013-2024

 

Chapter 6. Microgrid Market, By Power Source

 

6.1. Microgrid market share by power source, 2016 & 2024

 

6.2. Diesel generators

 

6.2.1.   Market estimates and forecast, 2013-2024

 

6.2.2.   Market estimates and forecast, by region, 2013-2024

 

6.3. Natural Gas

 

6.3.1.   Market estimates and forecast, 2013-2024

 

6.3.2.   Market estimates and forecast, by region, 2013-2024

 

6.4. Solar PV

 

6.4.1.   Market estimates and forecast, 2013-2024

 

6.4.2.   Market estimates and forecast, by region, 2013-2024

 

6.5. CHP

 

6.5.1.   Market estimates and forecast, 2013-2024

 

6.5.2.   Market estimates and forecast, by region, 2013-2024

 

6.6. Others

 

6.6.1.   Market estimates and forecast, 2013-2024

 

6.6.2.   Market estimates and forecast, by region, 2013-2024

 

Complete report titled at https://www.marketstudyreport.com/reports/microgrid-market

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About Author

Partha Ray

Email: [email protected]   

Partha Ray

Partha is into digital marketing since the last 3 years and has worked on multiple projects across various industries. An Computer Science engineer by education, he has prior experience in software development. His other interests include playing cricket & Hockey.

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