Microgrids, Update 2017 - Global Market Size, Competitive Landscape, and Key Country Analysis to 2021
NEW YORK, Aug. 1, 2017 /PRNewswire/ -- Microgrids, Update 2017 - Global Market Size, Competitive Landscape, and Key Country Analysis to 2021
Summary
A Microgrid is a form of distributed energy that can imitate the central/main grid and produce power using various sources such as natural gas, diesel, renewable energy, or fuel cells. In order to achieve higher efficiencies, microgrids may incorporate combined heat and power (CHP environment). A microgrid can be operated either by being connected to the main grid or can operate on remote mode (i.e. while islanded).
The global microgrid market registered a market value of $12 Billion in the year 2016 and is estimated to reach $23 Billion in 2021 registering a compound annual growth rate (CAGR) of 14.0% between 2016 and 2021. The Americas were the highest growing market in 2016, with an estimated growth rate of 22% over the previous year. This market had 62.0% of the global market share in 2016. Asia-Pacific was the second-largest market, representing 23.0% of the market share followed by Europe, Middle East, and Africa (EMEA) with a 15.0% share. Some of the top global microgrid participants include ABB, S&C Electric, Schneider Electric, Siemens, GE, and Echelon.
Network downtimes, natural disasters, and possible external attacks are strengthening the reasons for grid-connected facility to become more and more independent. The negative impact of extended power outages on the economy is expected to be eased with the adoption of microgrids. According to the World Bank, "Globally, the average monetary loss as a result of power outages is approximately 4.7% of a country's annual sales." The DOE estimates that the cost of power-related outages to the US economy is approximately $150 Billion in damages annually.
The US microgrid market had close to 39% of the global market share during the year 2016. By the end of 2021, it is estimated to hold close to 52% of the global market share. The main reason for the dominance is attributed to market readiness, technology advancement, and multiple state funding and government aids that support project deployment. It is a known fact that microgrids require upfront capital investment which may be high depending on the type of project. In the US, both federal and state governments have come forward to support the technology.
The report "Microgrids, Update 2017 - Global Market Size, Competitive Landscape, and Key Country Analysis to 2021" offers comprehensive information and understanding of the global microgrid market. The report analysis the current trend and future potential of microgrids market at global, regional (Asia-Pacific, Americas, Europe, and Middle East and Africa) and key countries (the US, Canada, Brazil, India, China, Japan, Australia, Russia, South Africa, and the UK) level. The report analyzes the microgrid market value for the year 2011, 2016, and 2021.
In particular, this report provides the following analysis -
- Analysis of the growth of microgrid market with a focus on market value in global and regional level including Asia- Pacific, Americas, Europe, and Middle East and Africa.
- The report provides microgrid market analysis for key countries including the US, Canada, Brazil, India, China, Japan, Australia, Russia, South Africa, and the UK.
- The report offers country level microgrid market value for the year 2011, 2015, and 2021.
- It provides competitive landscape at country level for the year 2016. It also covers drivers and restraints, policy and regulatory environment, government and state funding initiatives, and case studies.
Companies mentioned in this report: Siemens, Schneider Electric, ABB, GE, S&C Electric, NRG Energy, Hitachi, Solar City, Eaton, Princeton Power Systems, Black & Veatch, Exelon/ Constellation Energy, Power Analytics Corporation, Pareto Energy, Anbaric, IPERC, ZF Energy, Fairbanks Morse, Canadian Solar, Burns Group, Green Energy Group, Landis & Gyr, Power Analytics, Spirae, Viridity Energy, OSISoft, NuScale, Powerstream, Toronto Hydro, Siemens Canada, NRStor, Husk Power Systems, SunEdison, First Solar, Azure Power, Welspun Energy, Gram Power, OMC power, Greenpeace, China Singyes Solar Technologies Holdings Limited, Focused Sun, Capstone, Sungrow, Nippon Telegraph and Telephone Corporation (NTT), Mitsubishi Electric, Carnegie Wave Energy, Caterpillar, Ingersoll Rand, Johnson Controls, Lockheed Martin, National Instruments, Tesla, Australian Radio Towers, Mitsui & Co Ltd, EnerDel, Parker Hannifin, Komaihaltec Inc, Aquion Energy, Aeolus Power, Wind & Sun LTD.
Scope
The report analyses Microgrids market. Its scope includes -
- Analysis of the growth of microgrid market with a focus on market value in global and regional level including Asia-Pacific, Americas, Europe, and Middle East and Africa.
- The report provides microgrid market analysis for key countries including the US, Canada, Brazil, India, China, Japan, Australia, Russia, South Africa, and the UK.
- The report offers country level microgrid market value for the year 2011, 2015, and 2021.
- It provides competitive landscape at country level for the year 2016. It also covers drivers and restraints, policy and regulatory environment, government and state funding initiatives, and case studies.
Reasons to Buy
The report will enhance your decision making capability in a more rapid and time sensitive manner. It will allow you to -
- Facilitate decision-making by analyzing market data on microgrids
- Develop strategies based on developments in the microgrids market
- Identify key partners and business-development avenues, based on an understanding of the movements of the major competitors in the microgrid market
- Respond to your competitors' business structure, strategies and prospects
Read the full report: http://www.reportlinker.com/p04978300/Microgrids-Update-Global-Market-Size-Competitive-Landscape-and-Key-Country-Analysis-to.html
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