Microgrid As A Service Market to grow by USD 6,322.98 million between 2022 and 2027; APAC to account for 46% of the market growth - Technavio

NEW YORK, April 24, 2023 /PRNewswire/ -- The microgrid as a service market size is expected to grow by USD 6,322.98 million between 2022 and 2027, progressing at a CAGR of 14.53% as per the latest Technavio market research report. APAC is going to have lucrative growth during the forecast period. The region will account for 46% of the market growth during the forecast period. The growth of the regional market can be attributed to factors such as significant investments in microgrid infrastructure and the rising demand for a constant, uninterrupted, and dependable supply of power and electricity. In addition, rapid industrialization and the growing focus on developing renewable energy infrastructure are expected to drive the demand for microgrids in APAC during the forecast period. The report estimates the market size of microgrid as a service in the key markets of APAC, North America, Europe, South America, and Middle East and Africa - Download Sample Report in MINUTES

Microgrid As A Service Market: Growing demand for microgrids to drive growth

Developed countries have well-established power infrastructure. However, these countries face power outages due to aging infrastructure. Developing regions such as Asia and Africa suffer from low electrification rates. Most of the developed and developing regions use traditional systems that follow a hierarchical power structure. The power is generated at a central location and then sent through the transmission line to substations, distribution lines, and finally to the end-users. Any problem in one part of the transmission system can have a domino effect on the overall system, which affects the reliability of the grid. To overcome such challenges, developed and developing countries are adopting microgrids. A microgrid is a composition of multiple energy generation sources such as wind, solar, biomass, geothermal, and fossil fuels. It is connected to the main grid as a single point of load. The use of renewable sources along with energy storage systems makes microgrids self-sufficient and allows them to generate power for longer periods of time. Such benefits are increasing the adoption of microgrids, which is driving the growth of the market.

Microgrid As A Service Market: Rapid advances in technology identified as key trend

Vendors in the market are adopting advanced technologies in the energy generation process. This is leading to the development of flexible and scalable microgrids. For instance, in February 2020, Canopy Power launched the latest version of its Hornbill technology platform for monitoring and managing remote microgrid systems in Singapore. The platform provided by Canopy includes three major components, namely real-time monitoring, remote management, and advanced analytics. These technologies help minimize operation and maintenance costs, maximize uptime, and increase project bankability. Similarly, some vendors are adopting blockchain technology in microgrids to enable peer-to-peer network transactions. Such technological advances are expected to have a positive impact on the growth of the market during the forecast period.

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Some of the key Microgrid As A Service Market Players:

The microgrid as a service market is fragmented with the presence of various vendors providing microgrid solutions besides catering to specific project requirements. The vendors offer a wide portfolio of solutions and services that cater to a wide range of industries. Local and regional vendors continue to dominate the market, which is increasing the competition in both developed and developing countries. Some of the key vendors covered in the report include:

• ABB Ltd. - The company offers microgrids as a service for energy storage, solar generation, and hydrogen.
• Aggreko Plc - The company offers microgrids as a service such as solar-diesel hybrid with battery storage as a rental solution.
• AIO Systems Ltd. - The company offers microgrids as a service such as solar, wind, and storage.
• Capstone Green Energy Corp. - The company offers microgrids as a service for Data Centers, Utilities, and Rural Communities.
• Canopy Power
• Duke Energy Corp.
• Eaton Corp. Plc
• Emerson Electric Co.
• ENGIE SA
• General Electric Co.
• General MicroGrids
• Metco Engineering
• NRG Energy Inc.
• Pareto Energy
• Schneider Electric SE

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Microgrid As A Service Market: Segmentation Analysis

This market research report segments the microgrid as a service market by service type (software as a service, monitoring and control services, and engineering and design services), type (remote, grid-connected, and networked), geography (APAC, North America, Europe, South America, and Middle East and Africa).

The market growth in the software as a service (SaaS) segment will be significant over the forecast period. The use of SaaS solutions results in a safer, more reliable, and power-efficient microgrid system. It allows microgrid owners to have a single point of accountability and reduced risk of project delays and failures. This makes the management of software easier for microgrid users such as universities, companies, manufacturers, communities, and utilities. Such benefits drive the growth of the software as a service segment during the forecast period.

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Some of the key topics covered in the report include:

Market Drivers

Market Challenges

Market Trends

Vendor Landscape

• Vendors covered
• Vendor classification
• Market positioning of vendors
• Competitive scenario

Related Reports:

The energy storage market for microgrids is estimated to grow at a CAGR of 18.9% between 2022 and 2027. The size of the market is forecast to increase by USD 1,361.05 million. The market is segmented by application (remote, community and utility, institution and campus, and military), battery type (lithium-ion batteries and lead-acid batteries), and geography (North America, APAC, Europe, South America, and the Middle East and Africa).

The remote microgrid market size is expected to grow by USD 5.26 billion and record a CAGR of 14.10% during 2021-2025. The market is segmented by application (village electrification, grid island system, industrial remote mine systems, and remote military microgrids) and geography (North America, APAC, Europe, South America, and MEA).

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Table of contents:

1 Executive Summary

• 1.1 Market overview
• Exhibit 01: Executive Summary – Chart on Market Overview
• Exhibit 02: Executive Summary – Data Table on Market Overview
• Exhibit 03: Executive Summary – Chart on Global Market Characteristics
• Exhibit 04: Executive Summary – Chart on Market by Geography
• Exhibit 05: Executive Summary – Chart on Market Segmentation by Service Type
• Exhibit 06: Executive Summary – Chart on Market Segmentation by Type
• Exhibit 07: Executive Summary – Chart on Incremental Growth
• Exhibit 08: Executive Summary – Data Table on Incremental Growth
• Exhibit 09: Executive Summary – Chart on Vendor Market Positioning

2 Market Landscape

• 2.1 Market ecosystem
• Exhibit 10: Parent market
• Exhibit 11: Market Characteristics

3 Market Sizing

• 3.1 Market definition
• Exhibit 12: Offerings of vendors included in the market definition

• 3.2 Market segment analysis 
• Exhibit 13: Market segments

• 3.3 Market size 2022

• 3.4 Market outlook: Forecast for 2022-2027 
• Exhibit 14: Chart on Global - Market size and forecast 2022-2027 ($ million)
• Exhibit 15: Data Table on Global - Market size and forecast 2022-2027 ($ million)
• Exhibit 16: Chart on Global Market: Year-over-year growth 2022-2027 (%)
• Exhibit 17: Data Table on Global Market: Year-over-year growth 2022-2027 (%)

4 Historic Market Size

• 4.1 Global microgrid as a service market 2017 - 2021 
• Exhibit 18: Historic Market Size – Data Table on Global microgrid as a service market 2017 - 2021 ($ million)

• 4.2 Service type Segment Analysis 2017 - 2021 
• Exhibit 19: Historic Market Size – Service type Segment 2017 - 2021 ($ million)

• 4.3 Type Segment Analysis 2017 - 2021 
• Exhibit 20: Historic Market Size – Type Segment 2017 - 2021 ($ million)

• 4.4 Geography Segment Analysis 2017 - 2021 
• Exhibit 21: Historic Market Size – Geography Segment 2017 - 2021 ($ million)

• 4.5 Country Segment Analysis 2017 - 2021 
• Exhibit 22: Historic Market Size – Country Segment 2017 - 2021 ($ million)

5 Five Forces Analysis

• 5.1 Five forces summary
• Exhibit 23: Five forces analysis - Comparison between 2022 and 2027

• 5.2 Bargaining power of buyers 
• Exhibit 24: Chart on Bargaining power of buyers – Impact of key factors 2022 and 2027

• 5.3 Bargaining power of suppliers 
• Exhibit 25: Bargaining power of suppliers – Impact of key factors in 2022 and 2027

• 5.4 Threat of new entrants 
• Exhibit 26: Threat of new entrants – Impact of key factors in 2022 and 2027

• 5.5 Threat of substitutes 
• Exhibit 27: Threat of substitutes – Impact of key factors in 2022 and 2027

• 5.6 Threat of rivalry
• Exhibit 28: Threat of rivalry – Impact of key factors in 2022 and 2027

• 5.7 Market condition
• Exhibit 29: Chart on Market condition - Five forces 2022 and 2027

6 Market Segmentation by Service Type

• 6.1 Market segments
• Exhibit 30: Chart on Service Type - Market share 2022-2027 (%)
• Exhibit 31: Data Table on Service Type - Market share 2022-2027 (%)

• 6.2 Comparison by Service Type 
• Exhibit 32: Chart on Comparison by Service Type
• Exhibit 33: Data Table on Comparison by Service Type

• 6.3 Software as a service - Market size and forecast 2022-2027 
• Exhibit 34: Chart on Software as a service - Market size and forecast 2022-2027 ($ million)
• Exhibit 35: Data Table on Software as a service - Market size and forecast 2022-2027 ($ million)
• Exhibit 36: Chart on Software as a service - Year-over-year growth 2022-2027 (%)
• Exhibit 37: Data Table on Software as a service - Year-over-year growth 2022-2027 (%)

• 6.4 Monitoring and control services - Market size and forecast 2022-2027 
• Exhibit 38: Chart on Monitoring and control services - Market size and forecast 2022-2027 ($ million)
• Exhibit 39: Data Table on Monitoring and control services - Market size and forecast 2022-2027 ($ million)
• Exhibit 40: Chart on Monitoring and control services - Year-over-year growth 2022-2027 (%)
• Exhibit 41: Data Table on Monitoring and control services - Year-over-year growth 2022-2027 (%)

• 6.5 Engineering and design services - Market size and forecast 2022-2027 
• Exhibit 42: Chart on Engineering and design services - Market size and forecast 2022-2027 ($ million)
• Exhibit 43: Data Table on Engineering and design services - Market size and forecast 2022-2027 ($ million)
• Exhibit 44: Chart on Engineering and design services - Year-over-year growth 2022-2027 (%)
• Exhibit 45: Data Table on Engineering and design services - Year-over-year growth 2022-2027 (%)

• 6.6 Market opportunity by Service Type 
• Exhibit 46: Market opportunity by Service Type ($ million)
• Exhibit 47: Data Table on Market opportunity by Service Type ($ million)

7 Market Segmentation by Type

• 7.1 Market segments
• Exhibit 48: Chart on Type - Market share 2022-2027 (%)
• Exhibit 49: Data Table on Type - Market share 2022-2027 (%)

• 7.2 Comparison by Type
• Exhibit 50: Chart on Comparison by Type
• Exhibit 51: Data Table on Comparison by Type

• 7.3 Remote - Market size and forecast 2022-2027 
• Exhibit 52: Chart on Remote - Market size and forecast 2022-2027 ($ million)
• Exhibit 53: Data Table on Remote - Market size and forecast 2022-2027 ($ million)
• Exhibit 54: Chart on Remote - Year-over-year growth 2022-2027 (%)
• Exhibit 55: Data Table on Remote - Year-over-year growth 2022-2027 (%)

• 7.4 Grid-connected - Market size and forecast 2022-2027 
• Exhibit 56: Chart on Grid-connected - Market size and forecast 2022-2027 ($ million)
• Exhibit 57: Data Table on Grid-connected - Market size and forecast 2022-2027 ($ million)
• Exhibit 58: Chart on Grid-connected - Year-over-year growth 2022-2027 (%)
• Exhibit 59: Data Table on Grid-connected - Year-over-year growth 2022-2027 (%)

• 7.5 Networked - Market size and forecast 2022-2027 
• Exhibit 60: Chart on Networked - Market size and forecast 2022-2027 ($ million)
• Exhibit 61: Data Table on Networked - Market size and forecast 2022-2027 ($ million)
• Exhibit 62: Chart on Networked - Year-over-year growth 2022-2027 (%)
• Exhibit 63: Data Table on Networked - Year-over-year growth 2022-2027 (%)

• 7.6 Market opportunity by Type 
• Exhibit 64: Market opportunity by Type ($ million)
• Exhibit 65: Data Table on Market opportunity by Type ($ million)

8 Customer Landscape

• 8.1 Customer landscape overview 
• Exhibit 66: Analysis of price sensitivity, lifecycle, customer purchase basket, adoption rates, and purchase criteria

9 Geographic Landscape

• 9.1 Geographic segmentation 
• Exhibit 67: Chart on Market share by geography 2022-2027 (%)
• Exhibit 68: Data Table on Market share by geography 2022-2027 (%)

• 9.2 Geographic comparison 
• Exhibit 69: Chart on Geographic comparison
• Exhibit 70: Data Table on Geographic comparison

• 9.3 APAC - Market size and forecast 2022-2027 
• Exhibit 71: Chart on APAC - Market size and forecast 2022-2027 ($ million)
• Exhibit 72: Data Table on APAC - Market size and forecast 2022-2027 ($ million)
• Exhibit 73: Chart on APAC - Year-over-year growth 2022-2027 (%)
• Exhibit 74: Data Table on APAC - Year-over-year growth 2022-2027 (%)

• 9.4 North America - Market size and forecast 2022-2027 
• Exhibit 75: Chart on North America - Market size and forecast 2022-2027 ($ million)
• Exhibit 76: Data Table on North America - Market size and forecast 2022-2027 ($ million)
• Exhibit 77: Chart on North America - Year-over-year growth 2022-2027 (%)
• Exhibit 78: Data Table on North America - Year-over-year growth 2022-2027 (%)

• 9.5 Europe - Market size and forecast 2022-2027 
• Exhibit 79: Chart on Europe - Market size and forecast 2022-2027 ($ million)
• Exhibit 80: Data Table on Europe - Market size and forecast 2022-2027 ($ million)
• Exhibit 81: Chart on Europe - Year-over-year growth 2022-2027 (%)
• Exhibit 82: Data Table on Europe - Year-over-year growth 2022-2027 (%)

• 9.6 South America - Market size and forecast 2022-2027 
• Exhibit 83: Chart on South America - Market size and forecast 2022-2027 ($ million)
• Exhibit 84: Data Table on South America - Market size and forecast 2022-2027 ($ million)
• Exhibit 85: Chart on South America - Year-over-year growth 2022-2027 (%)
• Exhibit 86: Data Table on South America - Year-over-year growth 2022-2027 (%)

• 9.7 Middle East and Africa - Market size and forecast 2022-2027 
• Exhibit 87: Chart on Middle East and Africa - Market size and forecast 2022-2027 ($ million)
• Exhibit 88: Data Table on Middle East and Africa - Market size and forecast 2022-2027 ($ million)
• Exhibit 89: Chart on Middle East and Africa - Year-over-year growth 2022-2027 (%)
• Exhibit 90: Data Table on Middle East and Africa - Year-over-year growth 2022-2027 (%)

• 9.8 US - Market size and forecast 2022-2027 
• Exhibit 91: Chart on US - Market size and forecast 2022-2027 ($ million)
• Exhibit 92: Data Table on US - Market size and forecast 2022-2027 ($ million)
• Exhibit 93: Chart on US - Year-over-year growth 2022-2027 (%)
• Exhibit 94: Data Table on US - Year-over-year growth 2022-2027 (%)

• 9.9 China - Market size and forecast 2022-2027 
• Exhibit 95: Chart on China - Market size and forecast 2022-2027 ($ million)
• Exhibit 96: Data Table on China - Market size and forecast 2022-2027 ($ million)
• Exhibit 97: Chart on China - Year-over-year growth 2022-2027 (%)
• Exhibit 98: Data Table on China - Year-over-year growth 2022-2027 (%)

• 9.10 Japan - Market size and forecast 2022-2027 
• Exhibit 99: Chart on Japan - Market size and forecast 2022-2027 ($ million)
• Exhibit 100: Data Table on Japan - Market size and forecast 2022-2027 ($ million)
• Exhibit 101: Chart on Japan - Year-over-year growth 2022-2027 (%)
• Exhibit 102: Data Table on Japan - Year-over-year growth 2022-2027 (%)

• 9.11 India - Market size and forecast 2022-2027 
• Exhibit 103: Chart on India - Market size and forecast 2022-2027 ($ million)
• Exhibit 104: Data Table on India - Market size and forecast 2022-2027 ($ million)
• Exhibit 105: Chart on India - Year-over-year growth 2022-2027 (%)
• Exhibit 106: Data Table on India - Year-over-year growth 2022-2027 (%)

• 9.12 Germany - Market size and forecast 2022-2027 
• Exhibit 107: Chart on Germany - Market size and forecast 2022-2027 ($ million)
• Exhibit 108: Data Table on Germany - Market size and forecast 2022-2027 ($ million)
• Exhibit 109: Chart on Germany - Year-over-year growth 2022-2027 (%)
• Exhibit 110: Data Table on Germany - Year-over-year growth 2022-2027 (%)

• 9.13 Market opportunity by geography 
• Exhibit 111: Market opportunity by geography ($ million)
• Exhibit 112: Data Tables on Market opportunity by geography ($ million)

10 Drivers, Challenges, and Trends

• 10.1 Market drivers

• 10.2 Market challenges

• 10.3 Impact of drivers and challenges 
• Exhibit 113: Impact of drivers and challenges in 2022 and 2027

• 10.4 Market trends

11 Vendor Landscape

• 11.1 Overview

• 11.2 Vendor landscape
• Exhibit 114: Overview on Criticality of inputs and Factors of differentiation

• 11.3 Landscape disruption
• Exhibit 115: Overview on factors of disruption

• 11.4 Industry risks
• Exhibit 116: Impact of key risks on business

12 Vendor Analysis

• 12.1 Vendors covered
• Exhibit 117: Vendors covered

• 12.2 Market positioning of vendors 
• Exhibit 118: Matrix on vendor position and classification

• 12.3 ABB Ltd.
• Exhibit 119: ABB Ltd. - Overview
• Exhibit 120: ABB Ltd. - Business segments
• Exhibit 121: ABB Ltd. - Key news
• Exhibit 122: ABB Ltd. - Key offerings
• Exhibit 123: ABB Ltd. - Segment focus

• 12.4 Aggreko Plc
• Exhibit 124: Aggreko Plc - Overview
• Exhibit 125: Aggreko Plc - Business segments
• Exhibit 126: Aggreko Plc - Key news
• Exhibit 127: Aggreko Plc - Key offerings
• Exhibit 128: Aggreko Plc - Segment focus

• 12.5 AIO Systems Ltd.
• Exhibit 129: AIO Systems Ltd. - Overview
• Exhibit 130: AIO Systems Ltd. - Product / Service
• Exhibit 131: AIO Systems Ltd. - Key offerings

• 12.6 Anbaric Development Partners LLC 
• Exhibit 132: Anbaric Development Partners LLC - Overview
• Exhibit 133: Anbaric Development Partners LLC - Product / Service
• Exhibit 134: Anbaric Development Partners LLC - Key offerings

• 12.7 Capstone Green Energy Corp. 
• Exhibit 135: Capstone Green Energy Corp. - Overview
• Exhibit 136: Capstone Green Energy Corp. - Business segments
• Exhibit 137: Capstone Green Energy Corp. - Key news
• Exhibit 138: Capstone Green Energy Corp. - Key offerings
• Exhibit 139: Capstone Green Energy Corp. - Segment focus

• 12.8 Eaton Corp. Plc
• Exhibit 140: Eaton Corp. Plc - Overview
• Exhibit 141: Eaton Corp. Plc - Business segments
• Exhibit 142: Eaton Corp. Plc - Key news
• Exhibit 143: Eaton Corp. Plc - Key offerings
• Exhibit 144: Eaton Corp. Plc - Segment focus

• 12.9 ENGIE SA
• Exhibit 145: ENGIE SA - Overview
• Exhibit 146: ENGIE SA - Business segments
• Exhibit 147: ENGIE SA - Key offerings
• Exhibit 148: ENGIE SA - Segment focus

• 12.10 General Electric Co.
• Exhibit 149: General Electric Co. - Overview
• Exhibit 150: General Electric Co. - Business segments
• Exhibit 151: General Electric Co. - Key news
• Exhibit 152: General Electric Co. - Key offerings
• Exhibit 153: General Electric Co. - Segment focus

• 12.11 NRG Energy Inc.
• Exhibit 154: NRG Energy Inc. - Overview
• Exhibit 155: NRG Energy Inc. - Business segments
• Exhibit 156: NRG Energy Inc. - Key offerings
• Exhibit 157: NRG Energy Inc. - Segment focus

• 12.12 Pareto Energy
• Exhibit 158: Pareto Energy - Overview
• Exhibit 159: Pareto Energy - Product / Service
• Exhibit 160: Pareto Energy - Key offerings

• 12.13 Schneider Electric SE 
• Exhibit 161: Schneider Electric SE - Overview
• Exhibit 162: Schneider Electric SE - Business segments
• Exhibit 163: Schneider Electric SE - Key news
• Exhibit 164: Schneider Electric SE - Key offerings
• Exhibit 165: Schneider Electric SE - Segment focus

• 12.14 Siemens AG
• Exhibit 166: Siemens AG - Overview
• Exhibit 167: Siemens AG - Business segments
• Exhibit 168: Siemens AG - Key news
• Exhibit 169: Siemens AG - Key offerings
• Exhibit 170: Siemens AG - Segment focus

• 12.15 Spirae LLC
• Exhibit 171: Spirae LLC - Overview
• Exhibit 172: Spirae LLC - Product / Service
• Exhibit 173: Spirae LLC - Key offerings

• 12.16 Tech Mahindra Ltd.
• Exhibit 174: Tech Mahindra Ltd. - Overview
• Exhibit 175: Tech Mahindra Ltd. - Business segments
• Exhibit 176: Tech Mahindra Ltd. - Key offerings
• Exhibit 177: Tech Mahindra Ltd. - Segment focus

• 12.17 Tesla Inc.
• Exhibit 178: Tesla Inc. - Overview
• Exhibit 179: Tesla Inc. - Business segments
• Exhibit 180: Tesla Inc. - Key news
• Exhibit 181: Tesla Inc. - Key offerings
• Exhibit 182: Tesla Inc. - Segment focus

13 Appendix

• 13.1 Scope of the report

• 13.2 Inclusions and exclusions checklist 
• Exhibit 183: Inclusions checklist
• Exhibit 184: Exclusions checklist

• 13.3 Currency conversion rates for US$ 
• Exhibit 185: Currency conversion rates for US$

• 13.4 Research methodology
• Exhibit 186: Research methodology
• Exhibit 187: Validation techniques employed for market sizing
• Exhibit 188: Information sources

• 13.5 List of abbreviations 
• Exhibit 189: List of abbreviations

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