BANGALORE, India, Nov. 4, 2019 /PRNewswire/ -- MICROGRID MARKET OVERVIEW:
Microgrid is a localized power system comprised of distributed generation assets, energy storage devices, and smart distribution technologies that interoperates through controls and software-based intelligence systems.
In 2018, the Global Microgrid Market size was 11400 million US$ and it is expected to reach 34600 million US$ by the end of 2025, with a CAGR of 14.9% during 2019-2025.
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MICROGRID MARKET TRENDS:
North America is currently holds the largest share in terms of microgrid market size. Having captured nearly half of all vendor revenue activity.
The region holds a nearly identical microgrid market share (48.59%) compared with data presented in 2016 ABB, GE and Echelon captured the top three revenue share spots in the Microgrid market in 2016. ABB dominated with 7.53 percent revenue share, followed by GE with 5.64 percent revenue share and Echelon with 5.03 percent revenue share.
The second place is Asia regions; following North America with the Revenue market share over 27.83% in 2016. Europe is another important consumption market of Microgrid Technology. Microgrid Technology used in industry including Campus/Institutional Microgrid, Community/Utility Microgrid, Commercial/Industrial Microgrid, Military Microgrid and Remote Microgrid. Report data showed that 41.79% of the Microgrid Technology market demand in Campus/Institutional Microgrid, 24.24% in Commercial/Industrial Microgrid, and 21.28% in Community/Utility Microgrid in 2016.
There are two kinds of Microgrid Technology, which are Grid-Tied Type Microgrid and Independent Type Microgrid. Grid-Tied Type Microgrid is important in the Microgrid Technology, with an Installed Capacity market share nearly 78.30% in 2016. Briefly speaking, in the next few years, Microgrid Technology market size will still develop rapidly. Sales of Microgrid Technology have brought a lot of opportunities, there will be more companies enter into this industry, especially in developing countries.
Microgrid Market segment by Regions/Countries, this report covers
- United States
- Southeast Asia
- Central & South America
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Global Microgrid Market report focuses on the global Microgrid status, future forecast, growth opportunity, key market and key players. The study objectives are to present the Microgrid development in the United States, Europe and China.
The key players covered in this study
- S&C Electric Co
- General Microgrids
- Microgrid Solar
- Sunverge Energy
- Aquion Energy
- Green Energy Corp
- Growing Energy Labs Inc
- HOMER Energy
- Spirae, Inc.
Global Microgrid Market segment by Type, the product can be split into
- Grid-Tied Type Microgrid
- Independent Type Microgrid
Global Microgrid Market segment by Application, split into
- Commercial/Industrial Microgrid
- Community/Utility Microgrid
- Campus/Institutional Microgrid
- Military Microgrid
- Remote Microgrid
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The study objectives of Global Microgrid Market report are:
- To analyze global Microgrid status, future forecast, growth opportunity, key market and key players.
- To present the Microgrid development in the United States, Europe and China.
- To strategically profile the key players and comprehensively analyze their development plan and strategies.
- To define, describe and forecast the market by product type, market and key regions.
In this study, the years considered to estimate the market size of Microgrid are as follows:
- History Year: 2014-2018
- Base Year: 2018
- Estimated Year: 2019
- Forecast Year 2019 to 2025
For the data information by region, company type and application, 2018 is considered as the base year. Whenever data information was unavailable for the base year, the prior year has been considered.
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Microgrid Controller Market:
The Global Microgrid Controller Market is expected to grow from USD 5362.45 Millions in 2018 to USD 14562.37 Millions by the end of 2025 at a Compound Annual Growth Rate (CAGR) of 15.34%.
Microgrid Technology Market:
In 2018, the global Microgrid Technology market size was 11400 million US$ and it is expected to reach 32200 million US$ by the end of 2025, with a CAGR of 13.9% during 2019-2025.
SOURCE Valuates Reports