Microgrid is a localized power system comprised of distributed generation assets, energy storage devices, and smart distribution technologies that interoperates through controls and software-based intelligence systems.
Microgrid is among the most promising tools of modern distribution networks due to their versatility. Once fully customized to the electricity and heating needs of a specific end user, they can simultaneously deliver enhanced reliability, energy and cost efficiency as well as environmental benefits. Microgrid for critical infrastructure (schools, hospitals, universities, wastewater treatment plants, etc.), mainly in cities and small communities, will grow fastest by project number within the next five years, driven by CHP incentives and State resiliency programs along the East Coast, while military Microgrid will add significant additional capacity to the current microgrid landscape.
Scope of the Report:
North America is currently the largest microgrid market, having captured nearly half of all vendor revenue activity. The region holds a nearly identical market share (48.59%) compared with data presented in 2016.
ABB, GE and Echelon captured the top three revenue share spots in the Microgrid market in 2016. ABB dominated with 7.53 percent revenue share, followed by GE with 5.64 percent revenue share and Echelon with 5.03 percent revenue share.
The second place is Asia regions; following North America with the Revenue market share over 27.83% in 2016. Europe is another important consumption market of Microgrid Technology.
Microgrid Technology used in industry including Campus/Institutional Microgrid, Community/Utility Microgrid, Commercial/Industrial Microgrid, Military Microgrid and Remote Microgrid. Report data showed that 41.79% of the Microgrid Technology market demand in Campus/Institutional Microgrid, 24.24% in Commercial/Industrial Microgrid, and 21.28% in Community/Utility Microgrid in 2016.
There are two kinds of Microgrid Technology, which are Grid-Tied Type Microgrid and Independent Type Microgrid. Grid-Tied Type Microgrid is important in the Microgrid Technology, with a Installed Capacity market share nearly 78.30% in 2016.
Briefly speaking, in the next few years, Microgrid Technology industry will still be a rapid development industry. Sales of Microgrid Technology have brought a lot of opportunities, there will more companies enter into this industry, especially in developing countries.
The global Microgrid Technology market is valued at 11400 million USD in 2018 and is expected to reach 25300 million USD by the end of 2024, growing at a CAGR of 14.2% between 2019 and 2024.
The Asia-Pacific will occupy for more market share in following years, especially in China, also fast growing India and Southeast Asia regions.
North America, especially The United States, will still play an important role which cannot be ignored. Any changes from United States might affect the development trend of Microgrid Technology.
Europe also play important roles in global market, with market size of xx million USD in 2019 and will be xx million USD in 2024, with a CAGR of xx%.
This report studies the Microgrid Technology market status and outlook of Global and major regions, from angles of players, countries, product types and end industries; this report analyzes the top players in global market, and splits the Microgrid Technology market by product type and applications/end industries.
Get a FREE sample Copy of this report : https://www.1marketresearch.com/market-reports/microgrid-technology-market-industry-report-115549#requestSample
Market Segment by Manufacturers, this report covers
Green Energy Corp
Growing Energy Labs Inc
Market Segment by Regions, regional analysis covers
North America (United States, Canada and Mexico)
Europe (Germany, France, UK, Russia and Italy)
Asia-Pacific (China, Japan, Korea, India and Southeast Asia)
South America (Brazil, Argentina, Colombia)
Middle East and Africa (Saudi Arabia, UAE, Egypt, Nigeria and South Africa)
Market Segment by Type, covers
Grid-Tied Type Microgrid
Independent Type Microgrid
Market Segment by Applications, can be divided into