What is Independent Microgrid?
Independent Microgrid is a distinct energy system which consists of interconnected loads and distributed energy resources that are capable of operating independently from the main power grid. Generally, microgrids are independent power network that uses local, distributed energy resources which deliver electricity from producers to consumers. Independent microgrid help to reduce the overall cost and provide backup for the grid in case of emergencies. As compared to traditional electrical grids, microgrids are more efficient and combined with various renewable sources such as small hydro, geothermal, wind power, solar waste-to-energy, and combined heat and power (CHP) systems. Additionally, microgrid can be powered by distributed generators, solar panels and batteries.
The market study is broken down by Type (DC Microgrid and AC Microgrid), by Application (Remote Systems, Institution and Campus, Utility/Community, Defence and Others) and major geographies with country level break-up.
The companies are exploring the market by adopting mergers & acquisitions, expansions, investments, new service launches, and collaborations as their preferred strategies. The players are exploring new geographies through expansions and acquisitions to avail a competitive advantage through combined synergies. Analysts at AMA Research estimates that Manufacturers from United States will contribute to the maximum growth of Global Independent Microgrid market throughout the predicted period. Established and emerging Manufacturers should take a closer view at their existing organizations and reinvent traditional business and operating models to adapt to the future.
ABB (Switzerland), General Electric Company (United States), Siemens AG (Germany), Eaton Corporation Inc. (Ireland), Schneider Electric SE (France), Honeywell International Inc. (United States), HOMER Energy LLC (United States), S&C Electric Company (United States), Power Analytics Corporation (United States) and Exelon Corporation (United States) are some of the key players that are part of study coverage. Additionally, the Manufacturers which are also part of the research coverage are Ferroamp (Sweden) and Green Energy Corp (United States).
AdvanceMarketAnalytics has segmented the market of Global Independent Microgrid market by Type, Application and Region.
On the basis of geography, the market of Independent Microgrid has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). If we see Market by Energy Source, the sub-segment i.e. Natural Gas will boost the Independent Microgrid market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Market Leaders and their expansionary development strategies
In January 2022- Nexus Renewables Company and Scale Microgrid Solutions (SMS) Company, merging together for development, construction, and acquisition of distributed grid-connected solar and battery energy storage projects across the United States.
In November 2021- Florida Power & Light Company (FPL) and GE Digital launches new cutting-edge Microgrid Control Lab at the University of Central Florida (UCF).The main aim of these lab will serve as a state of the art research facility and control room for engineering students and faculty.
- Emerging Trends Evs as Microgrids
- Increasing Demand for Reliable Power Supply
- Rising Investor Interest in Energy-As-A-Service (Eaas) Business Model to Minimize Costs
- High Maintenance Costs of Microgrid
- Lack of Standard Stability, reliability, and protection
Key Target AudienceIndependent Microgrid Manufacturers, Microgrid Traders, Distributors, and Suppliers, End-Use Industries, Venture Capitalists and Private Equity Firms and New Entrants/Investors
About ApproachTo evaluate and validate the market size various sources including primary and secondary analysis is utilized. AMA Research follows regulatory standards such as NAICS/SIC/ICB/TRCB, to have the better understanding of the market. The market study is conducted on basis of more than 200 companies dealing in the market regional as well as global areas with purpose to understand companys positioning regarding market value, volume and their market share for regional as well as global.
Further to bring relevance specific to any niche market we set and apply number of criteria like Geographic Footprints, Regional Segments of Revenue, Operational Centres, etc. The next step is to finalize a team (In-House + Data Agencies) who then starts collecting C & D level executives and profiles, Industry experts, Opinion leaders etc. and work towards appointment generation.
The primary research is performed by taking the interviews of executives of various companies dealing in the market as well as using the survey reports, research institute, and latest research reports. Meanwhile, analyst team keeps preparing set of questionnaires and after getting appointee list; the target audience are then tapped and segregated with various mediums and channels that are feasible for making connection that includes email communication, telephonic, skype, LinkedIn Group & InMail, Community Forums, Community Forums, open Survey, SurveyMonkey etc.
Frequently Asked Questions (FAQ):
1. What all players are profiled in the study?
The standard version of the report profiles players such as ABB (Switzerland), General Electric Company (United States), Siemens AG (Germany), Eaton Corporation Inc. (Ireland), Schneider Electric SE (France), Honeywell International Inc. (United States), HOMER Energy LLC (United States), S&C Electric Company (United States), Power Analytics Corporation (United States) and Exelon Corporation (United States) etc.
2. Can we have customized study for Independent Microgrid Market?
The Study can be customized subject to feasibility and data availability. Please connect with our sales representative for further information.
3. What would be the Market Size of Independent Microgrid Market by 2027?
Analysts at AMA estimates Independent Microgrid Market to reach USD Million by 2027.