This Global Microgrid market study offers a comprehensive analysis of the business models, key strategies, and respective market shares of some of the most prominent players in this landscape. Along with an in-depth commentary on the key influencing factors, market statistics in terms of revenues, segment-wise data, region-wise data, and country-wise data are offered in the full study. This study is one of the most comprehensive documentation that captures all the facets of the evolving Global Microgrid market.
A microgrid is a modern small-scale electricity system used to generate, distribute and regulate the flow of electricalpower. It includes distributed energy resources and multiple loads which enable it to interconnect with other electrical grids as well as operate in a parallelpower generation environment. Microgrids can be used to generate power from both renewable and non-renewable energy sources. There are different types of microgrids. The first one is true microgrid or customer microgrid, which is self-governed, has a regulatory structure and is compatible with the current technology. The second type is utility or community microgrid or milligrid which involves a division of regulated grid.The thirdvariety is virtual microgrid orvgrid.It covers multiple sites’distributed energy resources (DER) and are coordinated in a manner such that they can be presented as a single unit to the grid.
Around the world, governmentsare taking initiatives in setting up solar, biopower and wind energy farms, and increasingly concentrating on renewable energy resource based microgrids.Increased requirement ofenhanced technology for power generation and distribution, growing industrialization, government initiatives towards green energy, and a demand for secure andconsistent power supply are some of the factors driving the growth of microgrid market.
However,monetaryobstructions, complication in land acquisition and registration of land for solar PV installation in rural areas, high primary cost of installation, huge investment required for integrating existing systems with microgrid, technological barriersetc. are some of the aspectsholding backthe microgridmarket in some regions.
The microgridmarket can be segmentedinto verticals, technology andtype. By verticals,the market can be categorized into public sector, healthcare, telecom and manufacturing. On the basis oftechnology,the market can be divided into various categories such as by power and component technology. Bytype,microgridmarket is segmented intooff-grid, connected grid and hybrid grid.
The microgrid market is expected to be a multi-billion-dollar market and to grow at a significant rate during the forecast period, from 2014 to 2020. At present, the market is led by North America owing to growing industrialization and electrification. However, it is expected to witness ahuge potential in emerging economies of Asia-Pacific regions, such as India, China and Australia.
Introduction of advanced solutions, collaboration with other organizations, joint ventures/partnerships,and acquisitions&mergers are a few strategies followed by key players operating in microgrid market, in order to outperform their competitors. For example, Toshiba Corporation acquired Consert Inc. in 2013, inorderto improve their distribution services and widen their global presence and customer base.Additionally, in November 2014, HOMER Energy LLC introduced HOMER Pro software, anupgraded version of their HOMER software,to set a global standard for microgrid designand analysis at initial stage.Further, its analysis tool mainly focuses on hybrid microgrids that are combined with multiple storage and renewable energy resources.
Some of the key players in this market include Lockheed Martin Corporation, ZBB Energy Corporation, ABB Ltd., GE Digital Energy, Power Analytics Corporation, Consert Inc., Viridity Energy, Inc., S&C Electric Company, Chevron Energy, Toshiba Corporation,HOMER Energy LLC, Honeywell International Inc.,Microgrid Energy LLC and Siemens among others.
The research report presents a comprehensive assessment of market and contains thoughtful insights, facts, historical data, and statistically supported and industry validated market data and projections with suitable set of assumptions and methodology. Research report provides analysis and information by categories such as market segments, geographies, technology and vertical. Report covers exhaustive analysis on
- Market Segments
- Market Dynamics
- Market Size
- Supply & Demand
- Current Trends/Issues/Challenges
- Competition & Companies involved
- Value Chain
Regional analysis includes
- North America
- Latin America
- Asia Pacific
- Western Europe
- Eastern Europe
- Middle East & Africa
The report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across value chain. The report provides in-depth analysis of parent market trends, macro-economic indicators and governing factors along with market attractiveness as per segments. The report also maps qualitative impact of various market factors on market segments and various geographies
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Global Microgrid Market
- Detailed overview of parent market
- Changing market dynamics in the industry
- In-depth market segmentation
- Historical, current and projected market size in terms of volume and value
- Recent industry trends and developments
- Competitive landscape
- Strategies of key players and products offered
- Potential and niche segments, geographical regions exhibiting promising growth
- A neutral perspective on market performance
- Must-have information for market players to sustain and enhance their market footprint
Frequently Asked Questions
What research methodology is used to develop the Global Microgrid Market report?
- FMI utilizes three branched methods to derive market measurements used to compile any report study (data derivation, triangulation and validation).
- These approaches include accumulating data from both primary and secondary sources
- Primary research involves interviews with industry operators and FMI's network of contacts spanning the world's value chain of the Global Microgrid Market. This is supported by a comprehensive literature analysis of information gathered through secondary sources
- Analysis of several middle market stakeholders for country-wise data
What else does FMI offer apart from Global Microgrid Market report?
In addition to up-to-date market figures and customized of the Global Microgrid Market, FMI offer consulting services to help businesses within industry navigate challenges and take well-informed decisions amidst the breakneck competition.
How do you define competitors based on market structure? What aspects about a competitor are included in the company profile section?
- Most of the competitors are segregated according to their market share in 'Tier' wise statures.
- Global market participants are scrutinized and global competition metrics are included with numerous competitor profiles referring to their business background and go-to market strategies.