Research Nester published a report titled “Microgrid Market: Global Demand Analysis & Opportunity Outlook 2030” which delivers detailed overview of theglobalmicrogrid market in terms of market segmentation by connectivity, offering, application, and by region.
Further, for the in-depth analysis, the report encompasses the industry growth indicators, restraints, supply and demand risk, along with detailed discussion on current and future market trends that are associated with the growth of the market.
The global microgrid market is expected to garner a large revenue by growing at a CAGR of ~17% throughout the forecast period, i.e., 2022 – 2030, owing to the rising deployment of renewable energy sources in microgrids, growing need of power, and increasing number of construction activities globally. Furthermore, growing cyberattacks on energy infrastructure is also estimated to fuel the expansion of market in the coming years.
The market is segmented on the basis of connectivity, offering and application. On the basis of connectivity, the grid connectivity segment is anticipated to gather the largest share during the forecast period in view of the increasing deployment of microgrids in remote areas. Additionally, based on application, the remote off-grid communities segment is expected to grab the largest market share during the forecast period owing to the growing investments of governments to develop electricity infrastructure for providing clean electricity.
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Regionally, the global microgrid market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America and the Middle East & Africa. Asia Pacific is expected to witness the highest growth in the market over the forecast period, which can be attributed to the escalating rate of rural electrification and rising development activities for improving electricity architecture in the region.
The research was global in nature and conducted in North America (U.S., Canada), Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC (Finland, Sweden, Norway, Denmark), Poland, Turkey, Russia, Rest of Europe), Latin America (Brazil, Mexico, Argentina, Rest of Latin America), Asia-Pacific (China, India, Japan, South Korea, Indonesia, Singapore, Malaysia, Australia, New Zealand, Rest of Asia-Pacific), Middle East and Africa (Israel, GCC (Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman), North Africa, South Africa, Rest of Middle East and Africa). In addition, areas like Market size, Y-O-Y growth & Opportunity Analysis, market players competitive study, investment opportunities, demand for future outlook etc. have been covered and displayed in the research report to ensure it dives deep to achieve strategic competitive intelligence in the segment.
Rising Adoption of Renewable Energy Resources in Microgrids to Boost Market Growth
Communities and businesses all around the globe are determined to set energy goals and reduce the effects of power generation on the environment. Apart from this, governments of several developed and emerging economies are taking serious steps to curb carbon emissions. These are considered to be the major factors driving market growth in the future.
However, technical complications associated during operation of island mode microgrids are expected to operate as key restraint to the growth of the global microgrid market over the forecast period.
“The Final Report will cover the impact analysis of COVID-19 on this industry.”
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This report also provides the existing competitive scenario of some of the key players of the global microgrid market which includes company profiling of General Electric Company, Siemens AG, Eaton Corporation Inc., Schneider Electric SE, Honeywell International Inc., ABB, Ltd., S&C Electric Company, Power Analytics Corporation, Exelon Corporation, HOMER Energy LLC, and others. The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments. On the whole, the report depicts detailed overview of the global microgrid market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.
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