Global Microgrids Growth Opportunities: Demand for Electrification, Renewables, and Grid Resilience Drive Future Growth Potential

DUBLIN, June 12, 2023 /PRNewswire/ -- The "Global Microgrids Growth Opportunities" report has been added to  ResearchAndMarkets.com's offering.

The global microgrids market revenue is forecast to increase from $3.37 billion in 2022 to $8 billion in 2030. While North America is projected to remain the largest regional market over the forecast period, the Asian region is expected to outpace its growth.

With a largely secure grid infrastructure, the European Union has limited microgrid developments, such as physical island markets and rural markets in Eastern European countries with grid reliability issues.

Decarbonization of microgrids and lower solar and storage costs emphasize hybridizing and integrating multiple distributed generation sources (conventional diesel and gas), renewables, H2-based generation sources, and energy storage to optimize microgrid efficiency (a transition from fossil-based power generation).

Demand for modular containerized solutions with photovoltaic inverters, batteries, power converters, and protection and control systems will also grow. These solutions are future-proof for speedy installation and commissioning, rapid access to power in rural and remote locations, access to power using existing generators/weak grids, and expansion of grid projects. Multiple microgrids will be part of the wider smart grid, increasing visibility within regional/national energy systems and resulting in virtual microgrids using peer-to-peer (P2P) energy trading.

Capital investments, complex operations, and associated risks are leading to the growing preference for OPEX-based business models. Vendors in developed and developing regions increasingly prefer Microgrid-as-a-Service (MaaS) business models. Outcome-as-a-Service offerings, which entail operation and maintenance (O&M), financing and energy sustainability, and optimization, will also be critical to future success. Business models will vary depending on the application and geographic location, but a hybrid business model will represent the primary growth model. The market comprises many active participants, with more companies planning to enter this space. The leading companies offer turnkey solutions and as-a-service models.

This report provides insights into the global microgrids market developments. The study includes revenue forecasts at a global and regional level (2023-2030), market drivers and restraints, technology trends, application market forecasts, competitive analysis, and identification of growth opportunities.

Key Topics Covered:

1. Strategic Imperatives

• Why Is It Increasingly Difficult to Grow?
• The Strategic Imperative 8
• The Impact of the Top 3 Strategic Imperatives on the Microgrid Industry
• Growth Opportunities Fuel the Growth Pipeline Engine

2. Key Findings

3. Growth Opportunity Analysis

• Scope of Analysis
• Acronyms
• Microgrids: An Overview
• Microgrid Benefits Versus Attributes
• Value-added Services of Smart Microgrids
• Microgrids Vital to Grid Transformation
• Growth Metrics
• Growth Drivers
• Growth Restraints
• Revenue Forecast
• Revenue Forecast by Region
• Revenue Forecast by Application
• North America Revenue Forecast by Application
• Europe Revenue Forecast by Application
• China Revenue Forecast by Application
• India Revenue Forecast by Application
• ASEAN Revenue Forecast by Application
• East Asia Revenue Forecast by Application
• ANZ + Pacific Revenue Forecast by Application
• Middle East Revenue Forecast by Application
• Africa Revenue Forecast by Application
• LATAM Revenue Forecast by Application
• Russia + CIS Revenue Forecast by Application
• Revenue Forecast and Trends Analysis
• Supplier Capability Matrix

4. Business Model Analysis: Microgrids

• Evaluation of Business Models: Critical Considerations in Model Selection
• Microgrid Business Model Schematic: Customer-funded/Ownership Case
• Microgrid Business Model Schematic: Third-Party funded/Ownership Case
• Operator Business Models
• Hybrid Model: Highest Investment Flexibility, Mitigates Project Risks
• Utilities and Microgrid Development

5. Growth Opportunity Universe

• Growth Opportunity 1: OPEX-based Business Models
• Growth Opportunity 2: DERMS Projects and Grid Modernization
• Growth Opportunity 3: Onsite Flexibility Driven by Hybridization
• Growth Opportunity 4: Virtual Microgrids Using Peer-to-Peer (P2P) Energy Trading
• Growth Opportunity 5: DC Microgrids
• Growth Opportunity 6: Modular Microgrids

6. List of Exhibits

For more information about this report visit https://www.researchandmarkets.com/r/5ld1jw

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