Microgrid Market Set to Hit New Highs: Expected to Reach USD 61.18 Billion by 2027
Microgrid Market Size – USD 28.80 billion in 2019, Market Growth – CAGR of 10.5%, Market Trends – Increasing investments in the research & development of microgrid infrastructure
“Global Microgrid Market Forecast to 2027” encompasses vital aspects of the global Microgrid business sphere. The study offers full coverage of the assessment of the technological developments, factors influencing the growth of the industry, current and emerging trends witnessed in the global and regional markets, key statistical data, forecast estimation, and key manufacturers and suppliers of the Microgrid industry.
The global Microgrid Market will be worth USD 61.18 Billion by 2027, according to a current analysis by Emergen Research. The growth of this market can be attributed to the growing demand for clean sources of energy. Increasing government initiatives to reduce carbon footprints on the environment and lower the dependency on fossil-fuel-based power generation to produce electricity is expected to increase the demand for the technology. Increasing government policies and initiatives and a shift towards renewable distributed energy generation such as fuel cells, wind turbines, and Solar PV are also expected to drive the microgrid market’s demand.
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Key participants include Siemens, Honeywell, General Electric (GE), ABB, Schneider Electric, Eaton, Exelon Corporation, Spirae, Inc., S & C Electric Company, and Homer Energy, among others.
Latest Report On Covid Analysis By Emergen Research
The report is the latest document that covers the changes in the market dynamics and trends with regard to the COVID-19 pandemic. The global health emergency has brought dynamic changes in the market and economic scenario of the world. The pandemic has drastically affected the Microgrid market with disruptions to supply chains and volatility in prices and demands. The report covers the impact of the pandemic on the Microgrid industry with a special focus on the affected key segments of the industry.
Elements analyzed in the report:
The Global Microgrid Market report offers an elaborate analysis of the different elements of the industry, such as product development and technological advancements, product types, applications, and major expansion strategies undertaken by prominent companies. The assessment has been done based on primary and secondary research with a special focus on technological advancements, prominent industry players and suppliers, and distributors operating in the industry. The report is formulated to assist the readers better understand the overall market and make well-informed decisions.
Regional Analysis of the Microgrid Market includes:
- North America (U.S., Canada)
- Europe (U.K., Italy, Germany, France, Rest of EU)
- Asia Pacific (India, Japan, China, South Korea, Australia, Rest of APAC)
- Latin America (Chile, Brazil, Argentina, Rest of Latin America)
- Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)
The report further sheds light on strategic initiatives and business expansion plans undertaken by the key companies operating in the Microgrid industry. The report assesses the strategies such as mergers and acquisitions, government and corporate deals, partnerships and collaborations, joint ventures, brand promotions, and product launches, among others.
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The report offers an exhaustive analysis of the key market aspects like market size, volume, share, current and emerging trends, production and consumption rate, and other key elements that offer an idea about the prospective expansion of the Microgrid industry.
Emergen Research has segmented the global Microgrid Market on the basis of Power, Product, Application, and region:
- Power Outlook (Revenue, USD Billion; 2017-2027)
- Combined heat & power (CHP)
- Solar Photovoltaic (PV)
- Natural Gas
- Fuel Cell
- Product Outlook (Revenue, USD Billion; 2017-2027)
- Application Outlook (Revenue, USD Billion; 2017-2027)
Radical Highlights of the Microgrid Market Report:
- Study of the latest product launches and technological advancements to help the readers in formulating investment strategies
- Focus on market scenario, dynamics, and trends to be expected in the coming years
- Advanced analytical tools such as Porter’s Five Forces analysis, SWOT analysis, feasibility analysis, and investment return analysis
- Thorough regional analysis to offer insights into production and consumption patterns, supply and demand ratio, market size, revenue contrition, and the presence of prominent players
- Competitive landscape benchmarking with a focus on business profiles, product portfolio, business strategies such as M&A activities, revenue, market positions, market share, global position, and financial standing
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