San Francisco, 12 March 2019: The Report Microgrid Market Analysis By Power Source (Natural Gas, Combined Heat & Power
(CHP), Solar PV, Diesel, Fuel Cell), By Product (Remote, Grid Connected,
Hybrid), By Application, And Segment Forecasts, 2018 - 2025
The global microgrid market is expected to reach USD 17.51 billion by 2025, growing
at a CAGR of 17.0%, according to a new report by Grand View Research, Inc. The
improvement in manufacturing sectors of emerging markets including Mexico,
China and India as a result of favorable government policies to attract
investments is expected to promote market growth.
Microgrid differs from conventional
electrical distribution system as it acts a close proximity medium between the
power generation and power consumption sources which results in increasing
efficiency and reducing transmission losses. These systems perform dynamic
control over energy sources by enabling autonomous as well as automatic
self-healing operations.
Rising importance of captive electricity
generation as a key alternative to the regulated power supply by municipal
regulators in mining and mechanical engineering sectors is expected to have a
strong impact. Furthermore, rising production output of unconventional sources
including shale gas in the U.S. and Canada as a result of high utilization of
fracking technology is expected to ensure access of natural gas as a power
source over the next eight years.
Access Research Report of Microgrid Market@ www.grandviewresearch.com/industry-analysis/microgrid-market
Further key findings from the report suggest:
· The global microgrid demand was stood at
1.48 GW in 2016 and is projected to reach 6.54 GW by the end of 2025, expanding
at a CAGR of 16.3% from 2017 to 2025.
· Remote microgrid market demand was 568.2 MW
in 2016. The segment is expected to foresee tremendous gains owing to the
upcoming installation of new projects in Arctic circle, Russia
· Natural gas is expected to witness revenue
growth at a CAGR of 18.1% from 2017 to 2025. The governments of Russia and
Syria signed Russia-Syria Offshore Gas Deal which is aimed for exploration and
production of natural gas in Syrian Coast. The abovementioned favorable trends
in natural gas industry of Russia is expected to open new markets.
· Utility is projected to account for 9.6% of
global volume share by the end of 2025 as a result of increasing power demand
amid the inclusion of new HVAC and heavy load machinery in manufacturing sector
· North America is expected to account for
71.4% of global revenue by the end of 2025. The increasing number of new solar
PV microgrids for utility in Northeast and West regions of the U.S. is expected
to have a positive impact.
· Key vendors include Siemens AG, Exelon, GE,
Lockheed Martin Corporation, Lockheed Martin Corporation, ABB Group, Power
Analytics, Toshiba Corporation, Honeywell International Inc, ZBB Energy
Corporation, Echelon Corporation and Schneider Electric. In November 2016,
Exelon launched five new microgrids at USD 250 million through the assistance
with Anarbic. This launch is anticipated to play a crucial role in increasing
the market share of Exelon in global industry over the next eight years.
Browse more reports of this category by Grand View
Research at: www.grandviewresearch.com/industry/construction-and-utilities
Grand View Research has segmented the
global microgrid market on the basis of power source, product, application, and
region:
Microgrid Power Source Outlook (Volume, MW;
Revenue, USD Million; 2014 - 2025)
·
Natural Gas
·
CHP
·
Solar PV
·
Diesel
·
Fuel Cell
·
Others
Microgrid Product Outlook (Volume, MW;
Revenue, USD Million; 2014 - 2025)
·
Remote
·
Grid connected
·
Hybrid
Microgrid Application Outlook (Volume, MW;
Revenue, USD Million; 2014 - 2025)
·
Government
·
Education
·
Commercial
·
Utility
·
Defense
·
Others
Microgrid Regional Outlook (Volume, MW;
Revenue, USD Million; 2014 - 2025)
·
North America
·
Europe
·
Asia Pacific
·
Central & South America
·
Middle East & Africa
Access Press Release of
Microgrid Market@ www.grandviewresearch.com/press-release/global-microgrid-market
About Grand View Research
Grand View Research, Inc. is a
U.S. based market research and consulting company, registered in the State of
California and headquartered in San Francisco. The company provides
syndicated research reports, customized research reports, and consulting
services. To help clients make informed business decisions, we offer market
intelligence studies ensuring relevant and fact-based research across a range
of industries, from technology to chemicals, materials and healthcare.
For More Information: www.grandviewresearch.com
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