What is Microgrid Technology Market?
A microgrid is a small scale power grid that can operate independently or collectively to work with other power grids to generate energy or power. It is used for power generation, power storage, and consumption and is a renewable energy resource. Microgrids Technology Provides aid to economic growth and generates revenue, helps in providing efficiency, sustainability and is very cost-effective.
Highlights from Microgrid Technology Market Study
Attributes | Details |
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Study Period | 2018-2028 |
Base Year | 2022 |
Unit | Value (USD Million) |
Key Companies Profiled | General Electric (United States), Echelon (United States), S&C Electric Co (United States), Siemens (Germany), General Microgrids (United States), Microgrid Solar (United States), Raytheon (United States), Sunverge (United States), Toshiba (Japan) and Aquion Energy (United States) |
Research Analyst at AMA predicts that United States Players will contribute to the maximum growth of Global Microgrid Technology market throughout the forecasted period.
General Electric (United States), Echelon (United States), S&C Electric Co (United States), Siemens (Germany), General Microgrids (United States), Microgrid Solar (United States), Raytheon (United States), Sunverge (United States), Toshiba (Japan) and Aquion Energy (United States) are some of the key players profiled in the study. Additionally, the Players which are also part of the research are HOMER Energy (United States) and Spirae, Inc. (United States). Microgrid Technology Market Segmentation:
Scope | Sub-Segments |
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Application / End User | Industrial, Community, Campus and Institutions, Military, Remote Systems and Others |
Type | Grid-Tied Type Microgrid and Independent Type Microgrid |
Component | Consumption,Energy Storage,Local Generation |
On the basis of geography, the market of Microgrid Technology has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, 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). Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Influencing Trend:
Rising use of a natural source of Energy Generation like Solar, Geothermal, Fossil Fuel, etc
Market Growth Drivers:
Need for Reliable, Sustainable and Efficient source of energy in Case of Emergencies and Increasing Population and Industrialization
Challenges:
Stringent legal and Regulatory Norms might be the Hindrance and Increasing Risk of Cyberattack in Defence Sector due to the use of New Technolgy like cloud Computing
Restraints:
Maintaining the Microgrid Technologies can be Expensive and Space Issues can be the Problem
Opportunities:
Advancement in Technology for uninterrupted and High-performance Power Supply
Key Target Audience
Microgrid Manufacturers, International Traders of Microgrid Technolgy, Distributors and Suppliers, Research and Development, Financial Investors, Government, Hospitals and Others