Global Microgrid Market to See High CAGR Growth by 2026
Author: Peeter Dbmr
Global microgrid market is expected to register a healthy CAGR in the forecast period 2018 to 2025. The increased demand of automated grid systems, reduction in carbon footprint, advancement in microgrid connectivity by integration of IOT, and benefits of low cost and clean energy storage is the prominent factors driving the growth of this market.
Market Segmentation: Global Microgrid Market
p>
The global microgrid market is segmented based on grid type into three notable segments; AC microgrid, DC microgrid, and hybrid. In 2018, DC microgrid segment is valued to rule with the highest CAGR.
The global microgrid market is segmented based on connectivity into two notable segments grid connected and remote/island. In 2018, grid connected segment is valued to rule with the highest CAGR.
The global microgrid market is segmented based on offering into hardware, software, and services. The hardware segment is further sub-segmented into switchgears, power inverters, smart meters, reciprocating engines, and energy storage systems and power generators. The energy storage systems and power generators segment is further sub-segmented into power generators and energy storage systems. The power generator includes fuel cells and diesel gensets, chp and micro-chp, micro turbines, and renewables (PV cells, wind based, and others). The energy storage systems include lithium-ion batteries, lead-acid batteries, flywheels, flow batteries, and others. The services segment is further sub-segmented into engineering and design, monitoring and control, and operations & maintenance. In 2018, software segment is valued to rule with highest CAGR.
The global microgrid market is segmented based on vertical into five notable segments healthcare, educational institutions, industrial, military, and electric utility. The industrial segment is further sub segmented as steel, mining, and others. The utility segment is further sub-segmented into urban electrification and rural electrification. In 2018, healthcare segment is valued to rule with the highest CAGR.
The global microgrid market is segmented based on power into natural gas, combined heat and power, diesel, solar, fuel cells, others. In 2018, solar segment is valued to rule with highest the CAGR.
Based on geography, the market is segmented into 5 geographical regions, North America, Europe, Asia-Pacific, South America and Middle East and Africa.
Download PDF Sample report @ https://databridgemarketresearch.com/request-a-sample/?dbmr=global-microgrid-market
Key Drivers: Global Microgrid Market
The increased demand of automated grid systems, reduction in carbon footprint, advancement in microgrid connectivity by integration of IOT, and benefits of low cost and clean energy storage is the prominent factors driving the growth of this market.
Key Points: Global Microgrid Market
In 2017, the global microgrid market is dominated by ABB with market share of 21.4%, followed by General Electric Company 14.8%, Siemens AG 10.1%, Honeywell International Inc. 8.2%, Eaton Corporation PLC 6.1% and others 39.4%.
The DC microgrid segment is dominating the global microgrid market.
Hybrid segment is expected to grow with the highest CAGR of 25.0% in the forecast period 2018 to 2025.
Data Bridge Market Research set forth itself as an unconventional and neoteric Market research and consulting firm with unparalleled level of resilience and integrated approaches. We are determined to unearth the best market opportunities and foster efficient information for your business to thrive in the market. Data Bridge Market Research provides appropriate solutions to the complex business challenges and initiates an effortless decision-making process.