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Microgrid Market Evenly Poised To Reach A Market Value Of US$ By 2017 – 2025

TMRR, in its recent market report, suggests that the Microgrid market report is set to exceed US$ xx Mn/Bn by 2029. The report finds that the Microgrid market registered ~US$ xx Mn/Bn in 2018 and is spectated to grow at a healthy CAGR over the foreseeable period. This Microgrid market study considers 2018 as the base year, 2019 as the estimated year, and 2019 – 2029 as the forecast timeframe.

The Microgrid market research focuses on the market structure and various factors (positive and negative) affecting the growth of the market. The study encloses a precise evaluation of the Microgrid market, including growth rate, current scenario, and volume inflation prospects, on the basis of DROT and Porter’s Five Forces analyses. In addition, the Microgrid market study provides reliable and authentic projections regarding the technical jargon.

Important regions covered in the Microgrid market research include Region 1 (Country 1, country 2), Region 2 (Country 1, country 2), Region 3 (Country 1, country 2) and Region 4 (Country 1, country 2).

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The Microgrid market study answers critical questions including:

  1. What tactics are being utilized by the Microgrid market players to expand their production footprint in region?
  2. What are the threats faced by players in the global Microgrid market mutually?
  3. Why region holds the majority of share in the global Microgrid market?
  4. Why segment has the largest consumption in region?
  5. Which industries remain the leading consumers of the Microgrid across the globe?

The content of the Microgrid market report includes the following insights:

  • Growth outlook of the global Microgrid market in terms of value and volume
  • Strategies utilized by different Microgrid market players.
  • Drivers, restraints, opportunities and trends (DROT Analysis) impacting the growth prospect for the Microgrid over the forecast period.
  • End use consumption of the Microgrid across various regions.
  • Identify the ecological impacts of the Microgrid and what regulations are being imposed on its usage.

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On the basis of component, the global Microgrid market report covers the following segments:

segmentation. 

Remote or island microgrids are expected to grow in significance and vitally benefit the world microgrid market due to the decrease in power generation cost when compared to centralized power grids. Besides this, less generation of heat and smog and other environmental benefits coupled with a substantial drop in the prices of wind power and solar photovoltaic (PV) sources are predicted to help the remote or island microgrids market grow remarkably. 

The soaring acceptance witnessed in the global microgrid market for software across utilities, municipalities, commercial and industrial sites, and university campuses is prognosticated to decently benefit manufacturers. With the help of load and weather forecasting, software as a service (SaaS) can allow the dynamic control and management of distributed energy resources. 

Global Microgrid Market: Market Potential 

Not-for-profit open standards enterprise, EMerge Alliance has received business from one of the largest solar trade shows in North America, i.e. Solar Power International (SPI), to expand its footprint. The business expansion will incorporate microgrid ecosystems and a complete smart building in its Smart Energy Microgrid Marketplace. The facility will exhibit an ultimate connection between smart energy products and solar power with a fully-functioning live microgrid and associated products such as electric vehicle charging, automation products, and energy management systems. The SPI 2017 Smart Energy Microgrid Marketplace to be held at Mandalay Bay Convention Center, Las Vegas Nevada in September is also expected to showcase solar panel manufacturers and energy storage providers. 

Global Microgrid Market: Regional Outlook 

Foreseen to rise at a higher CAGR, the Asia Pacific microgrid market could gain an upper hand in the industry as players as well as regional governments take several initiatives to magnify the adoption of microgrid solutions. Other geographies such as Rest of the World, Europe, and the Americas are foretold to emerge as key markets for players to capitalize on. Howbeit, it all depends on how the regional markets face the odds and leverage the opportunities made available by the driving factors taking precedence therein. 

Global Microgrid Market: Competitive Landscape 

Exelon Corporation, Siemens AG, Eaton Corporation PLC, General Electric, and ABB Ltd. are some of the dominating companies making their presence known in the global microgrid market. For the purpose of enhancing their revenue base, market players are envisaged to consider strategic expansions and launch of novel products. An integrated solar diesel microgrid was commissioned to be installed in Johannesburg, South Africa by ABB at its Longmeadow facility of 96,000 m2 capacity. The solution is aimed at covering all planned and unplanned power outages by ensuring an uninterrupted power supply with the help of off-grid and fully grid-connected functionalities.

All the players running in the global Microgrid market are elaborated thoroughly in the Microgrid market report on the basis of R&D developments, distribution channels, industrial penetration, manufacturing processes, and revenue. In addition, the report examines, legal policies, and comparative analysis between the leading and emerging Microgrid market players.  

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