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Microgrid Market by Offering, Connectivity, Grid Type, Vertical & Geography - Global Forecast to 2022

Microgrid Market: Global Forecast until 2022

  • March 2017
  • 175 pages
  • ID: 3703379
In this report:
According to a Scientific American article (September 2015), more than ## solar projects have been approved since 2013, including the Middle East's largest solar PV project, growing from ## MW to ##,## MW (##% of UAE's demand) over the next ## years for the Dubai Electricity and Water Authority.
The market for remote/island microgrids for the healthcare vertical is expected to be valued at USD ##.## billion by 2022, growing at the highest CAGR of ##.##% during the forecast period.

Summary

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"The microgrid market is likely to grow at a compound annual growth rate (CAGR) of ~12.4 percent between 2016 and 2022"

The microgrid market was estimated at ~$16.6B in 2015 and is forecasted to reach ~$39.0B by 2022, at a compound annual growth rate of ~12.4 percent during the forecast period. The market increase can be accredited to different Elements such as increasing demand for automated grid system and enhancement in microgrid connectivity through integration of IoT. The main restraints for the microgrid market are the high initial cost of installation and land acquisition and registration complications for solar PV installation in rural areas.

"The industry for healthcare is anticipated to rise at an important rate during the estimate period"

Hospitals are an essential facility leveraging the advantages of the microgrid. The microgrid system offers significant economic and environmental benefits to the most advanced healthcare facilities. It has the ability to optimize the energy consumption for any type of facility, and this brings particular value to public facilities including hospitals, which use mass quantities of power to preserve daily operations without risking an outage. The growing need for uninterrupted power supply in the healthcare vertical is the main factor providing to the rise of this market.

"The sector in Asia-Pacific is anticipated to grow at the maximal rate during the outlook period"

Increase in microgrid installations in African continent and Asia-Pac for rural electrification projects and quickly increasing mining vertical in the Indian market, together with market investments made by both national and international companies including ABB, Siemens, GE, and Schneider Electric (SU), are some of the main factors providing to the increase of the microgrid market in Asia-Pacific. The countries considered in Asia-Pac are China (CN), Japan (JP), India (IN), Australia (AU), and Rest of Asia-Pacific. The whole Americas maintains the biggest share of the microgrid market as there is strong support for microgrid development from the U.S.A and Canadian governments. On top of, many big actors and the start-ups in this area are investing more for technological enhancement of microgrid.

Breakdown of primary participants' profile by distinct parameters:

• By Company category: Tier 1-50.0 percent, Tier 2-33.0 percent, and Tier 3-17.0 percent

• By Description: C Level-50%, Director Level-33%, and Others-17%

• By Area: Americas-67%, Europe-16%, and APAC-17%

The top players operating in this sector are ABB Ltd. (NYSE:ABB), General Electric (NYSE:GE), Eaton Corporation PLC, Siemens (SIA), Exelon Corporation, Schneider Electric (SU), Caterpillar Inc., Power Analytics Corporation, HOMER Energy LLC, and S&C Electric Company.

Segment Research

In this business report, different segments including offering, connectivity, grid type, vertical, and territory have been covered. The analysis also considers the drivers, industry restraints, possibilities, and opportunities for the industry. It contributes a in-depth view of the market across four main regions: the whole Americas, Europe (EU), Asia-Pac, and RoW. Porter's five forces analysis has been included in the market research, together with the description of each force and its impact on the sector.

Why Purchasing This Study Can Help You:

• this business report includes the statistics pertaining to the microgrid market in terms of offering, connectivity, grid type, vertical, and area, together with their size of market.

• Porter's five forces analysis, value chain study, and top strategies approved by the key market players have been provided for the microgrid market.

• Major drivers, market restraints, alternatives, and opportunities for the microgrid market have been provided in detail in this industry report.

• The report includes figures of segmentation, review, and estimate for the microgrid market established on its segments and sub-segments.

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