The research report on the global microgrid market enumerates the many factors that will drive it into a new, promising phase of growth and development. The study analyzes the microgrids market on the basis of type and geographical region. The research report focuses on trends, market numbers, growth restraints and drivers, and market projections for the forecast period. These vital indicators are supplemented by our expert analyses and recommendations. We also use tools such as Porter’s five forces analysis to determine the future market standing of suppliers and buyers. All current developments that will likely cause an alteration in market dynamics are analyzed to give you a broader perspective of the market. Besides, a Company Profiles section features all leading market participants and their recent developments to help you understand the competitive landscape and maneuver your way to the top of the microgrid market.
Over and above these critical elements, the microgrid market research report also offers ample graphs, tables, and charts to give you a snapshot of the market.
Overview of the microgrid market
A microgrid is a miniature version of conventional centralized grid systems or digitalized grids, with centralized operations. A microgrid can work in tandem or isolation from the existing larger power grid network. A combination of favorable government policies and a demand for low-cost energy has helped the global microgrid market gather speed. Governments worldwide are spending money on setting up renewable energy projects such as solar farms and wind farms. The United States steals a march over all other markets because of its extensive investments in military applications and for powering remote areas. In Europe as well, microgrids are regarded as a viable option for the integration of energy obtained from renewable sources. However, the largest potential for the microgrid market clearly lies in the Asia-Pacific region, where emerging economies are looking at ways to alleviate problems presented by low grid connectivity and power shortages.
This research report on the microgrid market forecasts a sharp rise in the number of microgrid installations between 2015 and 2020. According to the report, the global microgrid market is expected to witness a CAGR of 13.7% during the forecast period ranging from 2012 to 2018.
Growth in this market is underpinned by several advantages such as a lower need for infrastructure, fewer line losses, and the flexibility to be integrated with localized power generation sources. All of these reasons explain the growing popularity of microgrids across military, commercial, and industrial applications. The rising number of utilities investing significant dollars in microgrids will further stoke growth in this market. The uptake of microgrids is expected to remain steady on the global front.
That having been said, the cost of integrating microgrids into convention systems is a challenge that needs to be addressed. Custom interfaces are expensive too, adding to the overall initial costs of installing and integrating such a system. However, this problem can be mitigated to a certain extent by undertaking more research and pilot projects to test the feasibility of various permutations and combinations. Post 2015, the global microgrid market will be in a phase of boom, and those securing the first-mover advantage will be able to cement their market presence over the next few years.
By type, this market research report segments microgrids as: institutional/campus microgrid, commercial/industrial microgrid, community/utility microgrid, military microgrid, smart microgrid, rudimentary microgrid, islanded/remote off-grid system microgrid, grid-connected microgrid.
Companies mentioned in the global microgrid market research report
Key market participants profiled in this report include: Pareto Energy Ltd., Encorp Inc., Viridity Energy, and Power Analytics Corp.
Geographies analyzed under this research report:
- North America
- Rest of the World
This report gives you access to decisive data such as:
- Market growth drivers
- Factors limiting market growth
- Current market trends
- Market structure
- Market projections for the coming years
Key highlights of this report:
- Overview of key market forces propelling and restraining market growth
- Up-to-date analyses of market trends and technological improvements
- Pin-point analyses of market competition dynamics to offer you a competitive edge
- An analysis of strategies of major competitors
- An array of graphics and SWOT analysis of major industry segments
- Detailed analyses of industry trends
- A well-defined technological growth map with an impact-analysis
- Offers a clear understanding of the competitive landscape and key product segments