The global Microgrid Market will be worth USD 61.18 Billion by 2027, according to a current analysis by Emergen Research. The growth of this market can be attributed to the growing demand for clean sources of energy. Increasing government initiatives to reduce carbon footprints on the environment and lower the dependency on fossil-fuel-based power generation to produce electricity is expected to increase the demand for the technology. Increasing government policies and initiatives and a shift towards renewable distributed energy generation such as fuel cells, wind turbines, and Solar PV are also expected to drive the microgrid market's demand.
Researchers have taken a holistic approach towards the global market analysis and highlighted the factors that influence the overall growth of the market. The study involves the use of efficient analytical tools like SWOT analysis and Porter’s Five Forces to inspect the strengths, weaknesses, opportunities, and threats associated with the growth of the various market segments. The report provides crucial details, such as the market shares of the key players, which help the reader attain a comprehensive outlook of the Microgrid Market.
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Some Key Highlights from the Report
In September 2019, Honeywell and NRStor C&I Launch the largest Behind-the-Meter Battery Energy storage Program in the world.
Combined heat & power (CHP) held the largest market share of 34.0% in the year 2019 due to the increasing adoption of sustainable sources of power generation, including hydro, solar, and wind energy.
The grid-connected segment is forecasted to grow with the fastest CAGR of 10.6% over the forecast period. Reliable power supply, improved resiliency & efficiency, low cost of energy storage, and reduction in the emission level are some of the driving factors of the segment.
Market Scope:
One of the report’s central components is the broad Microgrid market segmentation that includes the product type gamut, application spectrum, end-user industry landscape, significant geographical regions, and the top market contenders. The report contains unbiased industry expert opinions on the current market scenario, past market performance, production & consumption rates, demand & supply ratio, and revenue generation forecasts over the estimated period. The key players’ financial positions, along with their gross profits, sales volumes, sales revenue, manufacturing costs, and other financial ratios, have been accurately gauged in the report. Furthermore, several analytical tools like investment assessment, SWOT analysis, and Porter’s Five Forces Analysis have been implemented by our analysts’ team to evaluate the production and distribution capacities of the Microgrid market players.
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Highlights of the TOC:
Report Overview 1.1 Research Scope 1.2 Key Microgrid market segments 1.3 Major players 1.4 Market analysis by product 1.5 Market analysis by application 1.6 Report timeline
Global Growth Trends 2.1 Global Microgrid market size 2.2 Latest Microgrid market trends 2.3 Key growth trends
Competitive Landscape 3.1 Global Microgrid market key players 3.2 Global Microgrid size by manufacturers 3.3 Products of major players 3.4 Entry barriers in the Microgrid market 3.5 Mergers, acquisitions, joint ventures, and strategic alliances
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Emergen Research has segmented the global Microgrid Market on the basis of Power, Product, Application, and region:
Power Outlook (Revenue, USD Billion; 2017-2027)
Combined heat & power (CHP)
Solar Photovoltaic (PV)
Natural Gas
Fuel Cell
Diesel
Others
Product Outlook (Revenue, USD Billion; 2017-2027)
Grid-connected
Hybrid
Remote
Application Outlook (Revenue, USD Billion; 2017-2027)
Commercial
Defense
Government
Education
Utility
Others
Key geographical areas:
North America
Europe
Asia Pacific
Latin America
Middle East & Africa
Leading Players Profiled in the Report:
Siemens, Honeywell, General Electric (GE), ABB, Schneider Electric, Eaton, Exelon Corporation, Spirae, Inc., S & C Electric Company, and Homer Energy, among others.
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Key questions addressed in the report:
What are the key factors driving the global Microgrid market?
Who are the key manufacturers in this market space?
Who are the distributors, traders and dealers of this market?
What are the market opportunities and risks affecting the performance of the vendors in the global Microgrid market?
What are the sales and revenue estimations for the top manufacturers in this market over the projected timeline?
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