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Smart Microgrid Market - Global Industry Analysis, Market Size, Share, Growth, Trends and Forecast 2014 - 2020

Pre Book Price: $ 5216

Original Price: $ 5795

Growing global energy demand and increasing share of renewable energy sources in the global installed capacity are bolstering the demand for smart microgrid. Microgrids are smaller versions of the conventional power grids and are designed to serve localized electric loads. They incorporate distributed energy resources (DER) such as micro-turbines, wind and photovoltaic in parallel with the conventional power grid. The distributed energy resources (DER) allow microgrids to run in an islanding mode on account of which the microgrid and loads they serve are protected from the disturbances generated from the conventional power grids. This islanding mode is expected to occur when the microgrid disconnects from the conventional grid and runs independently. Smart microgrid integrates buildings and consumers with electricity generation, electricity distribution, smart switches, automation, power storage, and other smart technologies. Microgrid, thus, includes generation, a distribution system, consumption and storage, and manages them with the advanced monitoring, control and automation systems.

The market for smart microgrid is expected to increase in near future on account of some underlying factors, such as vulnerability of electricity infrastructure to cyber threats, the increasing need for reliable and secure power, and emphasis on minimizing the electricity transmission and distribution losses. Smart microgrid solution increases the amount of on-site energy (generation and/or storage), thus reducing the risk of a catastrophic power loss and also results in reduction of associated costs.

However, IT challenges for energy distribution grid operators (lack of common operational support infrastructure, heterogeneous device, device connectivity and protocol landscape); requirement of high investment in microgrid technologies, and insufficient regulatory support for microgrid deployment can hamper the growth in this industry. Additionally, improved energy efficiency of installations, integrated renewable power generation, supply and demand balancing, self-sustaining power generation, and increased security for critical power infrastructure protection are expected to significantly increase the demand for smart microgrid market in the near future.

The market for smart microgrid has been segmented on the basis of application to provide a comprehensive view of the market. On the basis of application, the smart microgrid market can be segmented as: commercial, community, industrial, institutional, military and remote systems (off-grid/rural). The smart microgrid implementation involves phases such as demand reduction (building management systems, HVAC upgrades, advanced metering), on-site generation and storage (diesel generators, integration of renewable integration of storage), advanced controls (demand response programs, balance system supply and demand), and automatic grid independence (automatic connect and disconnect from the conventional grid to meet the specific performance requirements).

North America, especially the U.S., accounts for the maximum market share in the global smart microgrid industry owing to the increasing microgrid initiatives taken at a local level by various universities, data centers, hospitals and other institutions. The demand for smart microgrid market in Europe is expected to increase significantly over the forecast period as the region updates an aging infrastructure and integrates higher share of renewable energy sources of power generation. Increasing electrification in rural areas of countries such as India, China and Malaysia is expected to augment the growth of smart microgrid market in Asia Pacific. Additionally, investments in battery technologies and decreasing solar PV module prices presents new smart microgrid solution and market opportunities.

Some of the key players in smart microgrid market include ABB Group, AEG Power Solutions, Echelon Corporation, General Electric, Honeywell Inc., Phono Solar Technology Co. Ltd., Schneider Electric and Siemens AG.

This research report analyzes this market on the basis of its market segments, major geographies, and current market trends. Geographies analyzed under this research report include
  • North America
  • Asia Pacific
  • Europe
  • Rest of the World 
This report provides comprehensive analysis of
  • Market growth drivers
  • Factors limiting market growth
  • Current market trends
  • Market structure
  • Market projections for upcoming years
This report is a complete study of current trends in the market, industry growth drivers, and restraints. It provides market projections for the coming years. It includes analysis of recent developments in technology, Porter’s five force model analysis and detailed profiles of top industry players. The report also includes a review of micro and macro factors essential for the existing market players and new entrants along with detailed value chain analysis.

Reasons for Buying this Report
  • This report provides pin-point analysis for changing competitive dynamics
  • It provides a forward looking perspective on different factors driving or restraining market growth
  • It provides a six-year forecast assessed on the basis of how the market is predicted to grow
  • It helps in understanding the key product segments and their future
  • It provides pin point analysis of changing competition dynamics and keeps you ahead of competitors
  • It helps in making informed business decisions by having complete insights of market and by making in-depth analysis of market segments
  • It provides distinctive graphics and exemplified SWOT analysis of major market segments

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