Microgrid Market Present Scenario and Growth Prospects 2017-2024

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Microgrid Market By Component , Technology ,
Applications, Region 2017-2024 Global Market
Insights, Inc.
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Microgrid Industry Overview

• In an era where distributed energy sources are
  continually promulgated in power networks,
  microgrid market stands to gain remarkable
  prominence, given the systems exceptional
  credibility of ensuring reliable operation in
  distributed grids with robustness and high
  flexibility. As the energy demand in conjunction
  with the environmental concerns have increased
  dramatically since the past decade, experts
  believe, decentralized electricity supply through
  LT lines might not be an optimal solution to
  address the requirement, especially across remote
  areas. In fact, with the increasing penetration
  of renewable energy sources in mainstream
  electricity supply, the operational reliability
  of the grid network has become an intricate issue
  for the power giants.
• Having recognized the stupendous potential of
  microgrid network in the renewable energy cosmos,
  various government entities of major economies
  are making rigorous efforts to exploit its
  maximum utilization, which, quite overtly is
  leaving a positive influence on the overall
  microgrid industry share. This is quite evident
  from the massive number of microgrid projects
  that are presently operational across the globe.
  According to some of the trusted reports, more
  than 1840 projects that represent a power
  capacity of almost 19280 MW are under development
  worldwide, with a proposed plan of over 170 new
  projects reported to come onboard soon.

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Microgrid Industry Background

• Microgrid are small energy system that are
  capable of balancing captive supply and demand
  resources to maintain stable supply of
  electricity. They contain loads and distributed
  energy sources including storage devices,
  controllable loads and generators and can
  function in coordinated and controlled way either
  when connected to the centralized grid network or
  when islanded. Prime applications of these
  networks are in military, utility, remote
  locations, industrial and commercial sector.

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Europe Microgrid Market Size, By Power Source,
2016 2024 (USD million)

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Industry Coverage
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Microgrid Industry By Applications

• The microgrid concept is aptly providing a
  platform that is proliferating distributed
  electricity generation and efficient power
  delivery with least compromise on environmental
  viability. However, in this regard, it is
  imperative to mention that microgrid market
  giants have been lately facing a wide array of
  daunting challenges such as establishing
  standards for microgrid design and extensive RD
  requirement. Nonetheless, in the face of the
  severe energy crisis that has led to a subsequent
  penetration of renewable energy sources,
  microgrid market is set to amass exceeding
  proceeds from both industrial and commercial
  applications. In terms of commercialization,
  Global Market Insights Inc., forecasts overall
  microgrid industry to exceed a valuation of USD
  19 billion by 2024.

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Microgrid Industry By Region

• Statistics depict that under the different
  framework programs such as FP5, FP6, FP7,
  initiated by European Commission, more than 80
  projects are being funded by the regional
  government. Perhaps marred by the fact that this
  program mainly deals with an aim of modernizing
  European energy grid through integration of
  renewable energy sources, it is undeniable that
  it is bound to shed a positive light on microgrid
  industry share. So far, as per the record, INEA
  (Innovation and Networks Executive Agency) has
  sanctioned almost 14 projects worth of almost USD
  135 million under the canopy of the EUs Horizon
  2020 program. These figures give a clear picture
  of the immense growth scope of Europe microgrid
  market in the coming years.
• Other than Europe, China is also claimed to hold
  a strong ground in the global microgrid industry
  share. The exponential increase in power
  consumption in tandem with the growing investment
  by the regional government in rural
  electrification development can be primarily
  credited for the regional market demand. For the
  record, presently there are over 20 large-scale
  microgrid projects operational in China. Looking
  at the promising microgrid sector, big shot
  investors are betting big on the regional
  microgrid market. For instance, recently,
  Capstone Turbine, the renowned California based
  gas turbine manufacturer has inked a deal with
  the Chinese Government to supply microturbine for
  the countrys 10 MW microgrid network. With a
  strong pipeline of such encouraging initiatives,
  China microgrid market is slated to exceed a
  power generation capacity of 1 GW by the end of
  2024.

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Competitive Microgrid Industry Share

• Eminent players across the microgrid market
  include ABB, Schneider Electric, Siemens,
  Advanced Microgrid Solutions, Emersion, GE
  Alstom, Honeywell, EnSync Inc, Caterpillar,
  Viridity Energy Inc, Lockheed Martin Corporation,
  Exelon Corporation and Power Analytics
  Corporation.

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Market research reports Key analytical components
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Market Insight Coverage
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Report Content
Chapter 1. Methodology and Scope 1.1.
Methodology 1.1.1. Initial data
exploration 1.1.2. Statistical model and
forecast 1.1.3. Industry insights and
validation 1.1.4. Market definition forecast
parameters 1.2. Data Sources 1.2.1.
Primary 1.2.2. Secondary
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Report Content
Chapter 2. Executive Summary 2.1. Microgrid
industry 3600 synopsis, 2014 - 2024 2.1.1.
Business trends 2.1.2. Connectivity
trends 2.1.3. Grid type trends 2.1.4. Power
source trends 2.1.5. Storage device
trends 2.1.6. Application trends 2.1.7.
Regional trends Browse ToC Of Microgrid Market _at_
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