Global Microgrid Market 2021 is expected to register a CAGR of Growing rate%, during forecast period with Impact of Covid 19 Analysis

Microgrid

Global “Microgrid Market” Report 2021 (value and volume) by company, regions, product types, end industries, history data and estimate data. Also, Report contains a comprehensive analysis of the important segments like market opportunities, import/export details, market dynamics, key manufacturers, growth rate, and key regions. This report focuses on the Microgrid in the Global market, especially in the United States, Europe, China, Japan, South Korea, North America, India. Microgrid Market report categorizes the market based on manufacturers, regions, type, and application. Microgrid Market reports offer a detailed assessment of the Microgrid including enabling technologies, current market situation, market assumptions, restraining factors.

The Global Microgrid market swot is provided for the international markets including progress trends, competitive landscape breakdown, and key in regions development status. Development policies and plans are discussed as well as manufacturing processes and cost structures are also analyzed.

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The global demand for energy is expected to increase by 30% between 2017 and 2040, with renewable sources of energy to contribute 40% of the increase in primary demand. To meet with the growing demand for energy, numerous new power projects are expected to be implemented across the globe, resulting in added concerns for grid stability. Countries across the globe are increasing the deployment of distributed power source, or microgrids, to reduce the overdependence on power grids and prevent power blackouts during natural calamities. Microgrids are similar to primary power grids, but smaller in size with low capacities. They are referred as distributed electric grids that can be operated and controlled depending on the requirements. Asia-Pacific has been experiencing increased demand for microgrids, majorly owing to factors, such as increased rural electrification programs in developing countries and development of commercial microgrids in advanced nations. Furthermore, government policies, such as Feed-in-Tariffs, are expected to further supplement the growth during the forecast period.

Supportive Government Policies Driving the Market

Owing to the vast benefits offered, governments across the globe have supported the deployment of microgrids in the form of fiscal and legislative incentives. In order to promote energy conservation, carbon emissions reduction, as well as structural reform of energy supply, many countries in the European Union, along with countries, like the United States, Japan, etc., have issued relevant policies and support plans to promote the development of microgrid projects. At the same time, China’s Thirteenth Five Year Plan for Electricity Development also incorporated microgrids as an essential way of energy restructuring. A similar investment is also expected to increase in other countries as well during the forecast period, in turn, supplementing the microgrid market.

Integration with Wholesale Power Market Driving Demand in Europe

The integration of microgrids with wholesale power market is a big boost for the development of microgrid network in Europe. The widespread network of microgrid can be integrated with the power network, and the owners of the microgrid can execute the trading activities. The region with power surplus can supply electricity to power deficit region by trading electricity in the power market, which is a big boost for the power sector, in turn, increasing the uptake of microgrid projects in the European region.

Japan to Witness High Demand in Asia-Pacific

As part of Japan’s policies to boost energy efficiency and power generation from renewable sources, the country’s sustained efforts toward smart grid deployment is expected to supplement the microgrid market in the Asia-Pacific region. To increase resiliency against natural disasters, Japanese cities are moving away from large-scale power toward microgrids. Higashi-Matsushima, a coastal city that was stricken by the 2011 earthquake and tsunami, is leading the switch. Supported by the country’s national resilience program, the city has constructed a large number of microgrids and has decentralized renewable power generation. Similar initiatives are also expected to increase in other cities of Japan, along with small microgrid connectivity, as Japan aims to move forward with the objective of preventing blackouts and minimizing damages during natural disasters.

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The global Microgrid market covers the vision of participant analysis by product types, market share, applications, sales, and revenue.

Microgrid Market Report covers the Top Key-players in 2021:-

  • ABB Ltd
  • Siemens AG
  • Honeywell International Inc.
  • Schneider Electric SE
  • Toshiba Corporation
  • General Electric Company
  • Eaton Corporation Plc
  • Standard Microgrid
  • Inc.
  • Princeton Power Systems
  • Inc.
  • and S&C Electric Co.

Highlighted points of Microgrid Market Size:

  • Covers the varying market dynamics of the industry.
  • In-depth analysis of market risks, opportunities, limitations, and growth of the market.
  • Includes market driving and restraining factors.
  • Participants profiles along with product description, overview, and business data.
  • Include details of five years of forecast analysis by types, regions, and applications.

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This Microgrid Market Research/analysis Report Contains Answers to your following Questions

  • Which Manufacturing Technology is Used for Microgrid? What Developments Are Going On in That Technology? Which Trends Are Causing These Developments?
  • Who Are the Global Key Players in This Microgrid Market? What’s Their Company Profile, Their Product Information, Contact Information?
  • What Was Global Market Status of Microgrid Market? What Was Capacity, Production Value, Cost and PROFIT of Microgrid Market?
  • What Is Current Market Status of Microgrid Industry? What’s Market Competition in This Industry, Both Company, and Country Wise? What’s Market Analysis of Microgrid Market by Taking Applications and Types in Consideration?
  • What Are Projections of Global Microgrid Industry Considering Capacity, Production and Production Value? What Will Be the Estimation of Cost and Profit? What Will Be Market Share, Supply and Consumption? What About Import and Export?
  • What Is Microgrid Market Chain Analysis by Upstream Raw Materials and Downstream Industry?
  • What Is Economic Impact On Microgrid Industry? What are Global Macroeconomic Environment Analysis Results? What Are Global Macroeconomic Environment Development Trends?
  • What Are Market Dynamics of Microgrid Market? What Are Challenges and Opportunities?
  • What Should Be Entry Strategies, Countermeasures to Economic Impact, Marketing Channels for Microgrid Industry?

Key Developments in the Microgrid Market:

  • September 2017: PanaHome Corporation, ENERES Co. Ltd, IBJ Leasing Co. Ltd., and the Public Enterprises Agency of the Hyogo Prefectural Government announced the launch of microgrid system powering 117 homes in Japan.
  • June 2017: InfraCo Africa committed USD 3.5 million to Standard Microgrid to expand delivery of off-grid solar in Zambia.
    The m

    Reasons to Purchase the Report

  • Current and future microgrid market outlook in the developed and emerging countries
  • Analyzing various perspectives of the market with the help of Porter’s five forces analysis
  • The segment that is expected to dominate the market
  • Countries that are expected to witness the fastest growth during the forecast period
  • Identify the latest developments, and strategies employed by the major market players
  • 3-month analyst support, along with the Market Estimate sheet (in excel)

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    Finally, the report Global Microgrid Market 2021 describes the Microgrid industry expansion game plan, the Microgrid industry knowledge supply, appendix, analysis findings, and the conclusion.

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