Microgrid Market Size to Grow by USD 19.5 billion | Increasing Government Support to Boost Growth | Technavio

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NEW YORK, June 29, 2022 /PRNewswire/ -- The microgrid market will be driven by factors such as increasing government support. Governments are introducing policies that encourage the development of microgrids. For instance, in the US, microgrid projects are supported by funding benefits in the form of grants from federal and state governments. Hence, the adoption of microgrids is increasing at a rapid pace, which is adding to microgrid capacity. Moreover, energy storage systems are being installed to increase the penetration of renewable energy, which helps microgrids operate by making use of non-carbon emitting resources. Hence, the market will continue to grow during the forecast period.

Technavio has announced its latest market research report titled
 Microgrid Market by Application and Geography - Forecast and Analysis 2021-2025
Technavio has announced its latest market research report titled Microgrid Market by Application and Geography - Forecast and Analysis 2021-2025

The microgrid market size is expected to grow by USD 19.5 bn from 2020 to 2025. Moreover, the growth momentum of the market will progress at a CAGR of 12.86% during the forecast period, according to Technavio.

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Microgrid Market 2021-2025: Scope

The microgrid market report covers the following areas:

Microgrid Market 2021-2025: Challenge

The high implementation costs will challenge the global microgrid market share growth during the forecast period. Microgrids involve a wide range of equipment related to power generation resources, distribution infrastructure, and control systems. A majority of the microgrids are built upon existing infrastructure. Moreover, the components of microgrids need to be integrated with several other technologies to have the required platform functionalities. This increases the production costs of the equipment.

Microgrid Market 2021-2025: Segmentation

  • Application

  • Geography

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Microgrid Market 2021-2025: Regional Analysis

North America will account for 28% of the market's growth during the forecast period. Increased initiatives from the US government for implementing energy-efficient power solutions will drive the microgrid market growth in North America during the forecast period. The US and Canada are the key countries for the microgrid market in North America. Moreover, market growth in this region will be slower than the growth of the market in other regions.

Microgrid Market 2021-2025: Vendor Analysis

We provide a detailed analysis of around 25 vendors operating in the microgrid market, including ABB Ltd., Eaton Corp. Plc, Emerson Electric Co., Exelon Corp., General Electric Co., Honeywell International Inc., Powerhive Inc., S&C Electric Co., Schneider Electric SE, and Siemens AG, among others.

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Microgrid Market 2021-2025: Key Highlights

  • CAGR of the market during the forecast period 2021-2025

  • Detailed information on factors that will assist microgrid market growth during the next five years

  • Estimation of the microgrid market size and its contribution to the parent market

  • Predictions on upcoming trends and changes in consumer behavior

  • The growth of the microgrid market

  • Analysis of the market's competitive landscape and detailed information on vendors

  • Comprehensive details of factors that will challenge the growth of microgrid market vendors

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Microgrid Market Scope

Report Coverage

Details

Page number

120

Base year

2020

Forecast period

2021-2025

Growth momentum & CAGR

Accelerate at a CAGR of 12.86%

Market growth 2021-2025

USD 19.5 billion

Market structure

Fragmented

YoY growth (%)

12.43

Regional analysis

North America, APAC, Europe, South America, and MEA

Performing market contribution

North America at 28%

Key consumer countries

US, China, Russian Federation, Australia, and Canada

Competitive landscape

Leading companies, competitive strategies, consumer engagement scope

Companies profiled

ABB Ltd., Eaton Corp. Plc, Emerson Electric Co., Exelon Corp., General Electric Co., Honeywell International Inc., Powerhive Inc., S&C Electric Co., Schneider Electric SE, and Siemens AG

Market Dynamics

Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and future consumer dynamics, market condition analysis for the forecast period,

Customization purview

If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.

Table Of Contents :

1 Executive Summary

2 Market Landscape

  • 2.1 Market ecosystem

  • 2.2 Value chain analysis

3 Market Sizing

  • 3.1 Market definition

  • 3.2 Market segment analysis

  • 3.3 Market size 2020

  • 3.4 Market outlook: Forecast for 2020 - 2025

4 Five Forces Analysis

  • 4.1 Five forces summary

  • 4.2 Bargaining power of buyers

  • 4.3 Bargaining power of suppliers

  • 4.4 Threat of new entrants

  • 4.5 Threat of substitutes

  • 4.6 Threat of rivalry

  • 4.7 Market condition

5 Market Segmentation by Application

  • 5.1 Market segments

  • 5.2 Comparison by Application

  • 5.3 Remote - Market size and forecast 2020-2025

  • 5.4 Institutions and campus - Market size and forecast 2020-2025

  • 5.5 Military - Market size and forecast 2020-2025

  • 5.6 Others - Market size and forecast 2020-2025

  • 5.7 Market opportunity by Application

6 Customer landscape

7 Geographic Landscape

  • 7.1 Geographic segmentation

  • 7.2 Geographic comparison

  • 7.3 North America - Market size and forecast 2020-2025

  • 7.4 APAC - Market size and forecast 2020-2025

  • 7.5 Europe - Market size and forecast 2020-2025

  • 7.6 South America - Market size and forecast 2020-2025

  • 7.7 MEA - Market size and forecast 2020-2025

  • 7.8 Key leading countries

  • 7.9 Market opportunity by geography

8 Drivers, Challenges, and Trends

  • 8.1 Market drivers

  • 8.2 Market challenges

  • 8.3 Market trends

9 Vendor Landscape

  • 9.1 Overview

  • 9.2 Landscape disruption

10 Vendor Analysis

  • 10.1 Vendors covered

  • 10.2 Market positioning of vendors

  • 10.3 ABB Ltd.

  • 10.4 Eaton Corp. Plc

  • 10.5 Emerson Electric Co.

  • 10.6 Exelon Corp.

  • 10.7 General Electric Co.

  • 10.8 Honeywell International Inc.

  • 10.9 Powerhive Inc.

  • 10.10 S&C Electric Co.

  • 10.11 Schneider Electric SE

  • 10.12 Siemens AG

11 Appendix

  • 11.1 Scope of the report

  • 11.2 Currency conversion rates for US$

  • 11.3 Research methodology

  • 11.4 List of abbreviations

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Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provide actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

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