Microgrid Market - Forecast(2025 - 2032)
The Microgrid Market size is set to grow at a CAGR of 12% during the period 2019-2025. The Microgrid Market?is being driven by deployment of improved distributed energy resources (DER) technologies such as micro turbines, combustion turbines, hydrogen electrolyzers, synchronous generators, hybrid systems, wind systems and other distributed generation technologies. These technologies, when integrated with microgrid, can reduce the carbon footprint significantly as compared to conventional grid. Additionally, the evolution of IoT-based platforms are also increasing the capabilities of microgrid systems. IoT-enabled microgrids are convenient for utilities to track energy consumption in real-time. Demand response application is another factor accelerating the demand for microgrids especially isolated microgrids. The Microgrid Market?is expected to grow with a CAGR of more than 10% during 2019-2025, due to an increase in government initiatives aimed at achieving optimum energy utilization.?
Report Coverage
The report: “Microgrid Industry – Forecast (2019-2025)”, by IndustryARC covers an in-depth analysis of the following segments of the Microgrid Market Report.?
By Grid Type: AC, DC
By Vertical: Industrial, Military, Utility, Aersopace and Defense, Automotive, Others
By Geography: North America, Europe, APAC, RoW
Key Takeaways
Type - Segment Analysis
DC microgrids hold a major share in the Microgrid Market?globally. They find application in high-power electrical equipment and in machinery used in industries, buildings and transportation. Many distributed energy resources such as stationary batteries and fuel cells are dependent upon direct DC microgrid. Further, DC microgrids offer major advantages over AC microgrids such as lower costs, higher reliability, and better stability. DC microgrids also reduce energy dissipation and facility costs resulting from AC-to-DC conversion. Thus, many end users prefer DC microgrids over AC microgrids.?
?????????????? ???????????? ???????????? ???? Microgrid Market - Click here
End Users - Segment Analysis
Industrial production requires reliable energy supply to ensure consistent power and to avoid loss of production. Industries rely on diesel generators for backup power which have several drawbacks such as CO2 emissions, high maintenance, and slow startup time. Such generators are being replaced by microgrids and energy storage providers that integrate renewable energy with conventional diesel or gas-fueled generation so as to provide reliable, economic and environmental power supply. For instance, in 2018, ABB developed an innovative microgrid solution to connect remote communities and growing cities in Africa.
Geography - Segment Analysis
APAC leads the world in microgrid deployment for rural electrification. The demand for microgrids in APAC has been driven by government plans to adopt renewable sources of energy and to improve access to energy in rural areas.? APAC countries such as India and China are at a nascent stage in terms of development of microgrid systems since many countries such as India, Malaysia, and Philippines and others are experiencing high rural electrification rate. For instance, utilization of microgrids in India is rapidly increasing due to various factors such as unreliable main utility grids and ambitious government programs geared towards adopting renewable energy and to improve energy access particularly for Indians in rural areas.?
In 2016, India’s Ministry of New and Renewable Energy (MNRE) announced plans to install 10,000 microgrids and minigrids, aimed at achieving a cumulative capacity of 500MW by 2021.
Microgrids have enormous market potential in China, with an increasing shift towards renewable energy. Companies such as ABB and Schneider Electric serve remote communities, utilities and industrial campuses in China. In 2017, ABB provided a microgrid solution to the plant of Guodian Nanjing Automation Co., Ltd. (SAC), an affiliate of China’s leading power company China Huadian Corporation.?
?????? ?????? Microgrid ???????????? ???????????????? ???????????? - Clickhere
领英推荐
Drivers - Microgrid Market
Deployment of Microgrid for rural electrification?
Microgrid is emerging as a viable option for rural electrification. Microgrid not only ensures installation of power set up much faster but also ensures lower energy costs as compared to conventional grids. Thus, microgrids also provide electricity to rural areas at economical prices. According to the International Energy Agency (IEA), nearly 240 million Indians lacked access to electricity in 2017. Thus electrification is highly required which furthers accounts for growth of the microgrid system.
Deployment of Microgrids during Power Outage??
Microgrids are able to power individual buildings, or entire cities even if the surrounding power grid is facing outage. The U.S. is one major region that has been witnessing an increased number of power outages in recent years due to natural calamities and bad weather. As per the U.S. Energy Information Administration (EIA), in 2017, electricity consumers in the U.S. witnessed power outages for an average of 7.8 hours annually. In 2019, 44 million people faced a power outage in Argentina, due to heavy rains. The number and duration of power outages in the Americas continues to rise, driven primarily by weather-related incidents, thereby creating opportunities for the microgrid market.?
Challenges – Microgrid Market
High setup cost due to non-standardized microgrid component
As the components used in microgrids are manufactured by several vendors, standardization and interoperability have become the major concerns for end users and solution providers. Utilities are deploying additional equipment and devices to resolve these issues, leading to the overall cost of microgrid deployment increasing.?
Standardizing microgrids can also help in overcoming regulatory obstacles such as those associated with interconnecting to utilities. Although companies have begun taking initiatives towards standardizing all components within microgrid networks, most of these initiatives are still in the nascent stages of development. Thus, the market will continue to face challenges due to interoperability between devices.
Market Landscape
Partnerships and acquisitions along with product development and up gradation are key strategies adopted by players in the Microgrid Market. In 2018, the Microgrid Market?remained fragmented with the top five players accounting for 40% of the share. Major players in the Microgrid Market?include ABB Ltd., Eaton Corporation PLC, General Electric Co., Siemens AG, Exelon Corporation and others. These major players have been actively globalizing their presence through partnerships and strategic acquisitions of local and regional players, which is aiding their expansion into emerging markets. ABB Ltd., one of the leaders in the microgrids market, generated an annual revenue of $34.312 billion in 2017, which was attributed to more than 30 global installations.?
Partnerships/Mergers/Acquisitions
R&D Investments/Funding
Microgrid Market Research Scope:?
The base year of the study is 2018, with forecast done up to 2025. The study presents a thorough analysis of the competitive landscape, taking into account the market shares of leading companies. It also provides information on unit shipments. These provide the key market participants with the necessary business intelligence and help them understand the future of the Microgrid Market. The assessment includes the forecast, an overview of the competitive structure, the market shares of the competitors, as well as the market trends, market demands, market drivers, market challenges, and product analysis. The market drivers and restraints have been assessed to fathom their impact over the forecast period. This report further identifies the key opportunities for growth while also detailing the key challenges and possible threats. The key areas of focus include the types of Microgrid Market, and their specific applications in the consumer electronics, industrial, medical, and security and surveillance sectors.
?????????????? ????: https://tinyurl.com/t5rzht7h
??????????????: https://tinyurl.com/yeyks5ud