出版：MarketsandMarkets（マーケッツアンドマーケッツ） 出版年月：2024年3月
Microgrid Market – Global Forecast to 2029
マイクログリッド市場 : 接続性 (グリッド接続、オフグリッド)、提供内容 [ハードウェア (発電機、コントローラー、エネルギー貯蔵システム)、ソフトウェア、サービス]、電源、エンドユーザー、電力定格＆地域別 – 2029年までの世界予測
Microgrid Market by Connectivity (Grid Connected, Off-grid), Offering (Hardware (Power Generators, Controllers, Energy Storage Systems), Software, Services), Power Source, End User, Power Rating and Region – Global Forecast to 2029
| ページ数 | 376 |
| 図表数 | 295 |
| 価格 | |
| シングルユーザライセンス | USD 4,950 |
| マルチユーザライセンス（5名） | USD 6,650 |
| コーポレート（サイト）ライセンス | USD 8,150 |
| エンタープライズライセンス | USD 10,000 |
| 種別 | 英文調査報告書 |
Report Overview
The projected trajectory of the global microgrid market indicates significant expansion, with anticipated growth from USD 37.6 billion in 2024 to USD 87.8 billion by 2029, with a CAGR of 18.5% throughout the forecast period.
世界のマイクログリッド市場の予想される軌道は大幅な拡大を示しており、2024年の376億米ドルから2029年までに878億米ドルに成長し、予測期間全体で18.5%のCAGRで成長すると予想されています。
This robust growth is underpinned by several compelling factors, including the imperatives of decarbonization, rural electrification imperatives, heightened focus on resilience, and the associated economic and environmental benefits, alongside mounting cybersecurity concerns. The market’s potential for expansion is further underscored by a confluence of factors such as governmental interventions, ongoing technological innovations, the integration of electric vehicles, effective management of distributed energy resources, the application of artificial intelligence for microgrid optimization, and expanding utilization across industrial and commercial domains.
“Grid-connected microgrids expected to witness highest CAGR during the forecast period.”
The grid-connected segment is positioned to dominate the market share and demonstrate substantial expansion over the forecast duration. Grid-connected microgrids establish direct ties with the utility switching infrastructure at the point of common coupling (PCC), providing the capability to seamlessly connect and disconnect from the main grid as required. These microgrids integrate diverse distribution systems and sophisticated control mechanisms, thereby augmenting power quality, addressing environmental concerns, and bolstering grid resilience. Consequently, the demand for grid-connected microgrids is anticipated to escalate owing to their heightened versatility and associated advantages.
“Microgrid software market likely to witness higher CAGR between 2024 and 2029.”
During the forecast period, the microgrid software market is anticipated to achieve the most substantial growth rate. The increasing complexity of microgrid systems, characterized by diverse energy sources, energy storage systems, and intelligent controls, necessitates advanced software solutions for effective management and optimization. Microgrid software offers comprehensive management functionalities, including energy flow control, load balancing, real-time monitoring, and predictive analytics, thereby facilitating the efficient and dependable operation of microgrids.
“Healthcare Facilities to witness second highest growth rate for the end-user segment during the forecast period.”
The healthcare facilities sector presents substantial growth prospects within the microgrid market, driven by critical power demands, opportunities for cost-effective energy solutions, a heightened focus on environmental sustainability, resilience and emergency preparedness imperatives, and supportive regulatory frameworks. Facilities such as hospitals and clinics necessitate reliable power sources crucial for patient care and safety. Uninterrupted power supply is indispensable for the operation of medical equipment, life support systems, refrigeration units for vaccines and medications, as well as for maintaining lighting and HVAC systems. Microgrids offer a resilient power infrastructure, ensuring continuous electricity provision even amidst grid outages or disturbances, thereby effectively meeting the critical power requisites of healthcare facilities.
“America is likely to hold the largest market share in 2024.”
The microgrid market within the Americas is segmented into North America and South America. As of 2024, North America accounted for 68.8% of the microgrid market share in the region. The dominance of the Americas in the microgrid market can be attributed to its technological innovation, favorable governmental regulations, prioritization of energy security, varied market prospects, and robust research and development initiatives. These factors collectively contribute to the region’s prominent position within the microgrid market landscape.
Breakdown of primaries
A variety of executives from key organizations operating in the microgrid market were interviewed in-depth, including CEOs, marketing directors, and innovation and technology directors.
• By Company Type: Tier 1 = 50%, Tier 2 = 30%, and Tier 3 = 20%
• By Designation: C-level Executives = 35%, Directors = 30%, and Others (sales, marketing, and product managers, as well as members of various organizations) = 35%
• By Region: Americas = 40%, Europe = 25%, Asia Pacific =20%, and Rest of the World = 15%
Key players profiled in this report
Schneider Electric (France), General Electric (US), Siemens (Germany), Eaton (Ireland), ABB (Switzerland), Hitachi Energy Ltd. (Switzerland), Honeywell International Inc. (US), HOMER Energy (US), S&C Electric Company (US), Power Analytics Global Corporation (US) are the key players in the microgrid market. These leading companies possess a robust portfolio of products and services, establishing a strong presence in established and emerging markets. The study provides a comprehensive competitive analysis of these key players in the microgrid market, presenting their company profiles, recent developments, and key market strategies.
Research Coverage
This report offers detailed insights into the microgrid market based on Connectivity (Grid Connected, Off-grid connected), Offering (Hardware, Software, Services), Type (AC Microgrids, DC Microgrids, Hybrid), Pattern (Urban/Metropolitan, Semiurban, Rural Areas/ Islands), Power Source (Natural Gas, Solar PV, Combined Heat and Power, Diesel, Fuel Cell, and Others), Power Rating ( Less Than 1 MW, 1 MW To 5 MW, >5 MW To 10 MW, and Above 10 MW), End User (Commercial & Industrial Buildings, Remote Areas, Institutes & Campuses, Government Buildings, Utilities, Military facilities, and Healthcare facilities), and region (Americas, Europe, Asia Pacific, and Rest of the World which includes the Middle East and Africa (MEA)) and Africa.
The report also comprehensively reviews the microgrid market drivers, restraints, opportunities, and challenges. The report also covers qualitative aspects in addition to the quantitative aspects of these markets.
Reasons to buy the report:
The report will help the leaders/new entrants in this market with information on the closest approximations of the revenue numbers for the overall market and the sub-segments. This report will help stakeholders understand the competitive landscape and gain more insights to position their businesses better and plan suitable go-to-market strategies. The report also helps stakeholders understand the microgrid market’s pulse and provides information on key market drivers, restraints, challenges, and opportunities.
The report provides insights on the following pointers:
• Analysis of key drivers (Increasing emphasis on decarbonization, Growing need for reliable, uninterrupted power supply; Surging deployment of microgrids for rural electrification, Growing instances of cyberattacks on energy infrastructure; Rising demand for EV charging infrastructure; Increasing need for demand response and load management capabilities, Economics and environmental advantage due to adoption of microgrids), restraints (High installation and maintenance costs of microgrids; Complexities in grid interconnections, Limited economies of scale ), opportunities (Increasing number of microgrid projects across different industries; Surging energy demand and adoption of renewable energy in the Asia Pacific; Growing interest of investors in EaaS business model to minimize costs; Rising government support for microgrid projects; Digitalization and smart grid integration, Artificial intelligence (AI) enabled microgrid optimization) and challenges (Lack of standardization and regulatory frameworks related to microgrid operations; Technical challenges of microgrids operating in island mode; Complexities in standardizing the scalability of microgrids, Complexities in planning and design of large-sized microgrids).
• Product Development/Innovation: Detailed insights on upcoming technologies, research & development activities, and new product launches in the microgrid market
• Market Development: Comprehensive information about lucrative markets – the report analyses the microgrid market across varied regions
• Market Diversification: Exhaustive information about new products, untapped geographies, recent developments, and investments in the microgrid market
• Competitive Assessment: In-depth assessment of market shares, growth strategies, and product offerings of leading players like Schneider Electric (France), General Electric (US), Siemens (Germany), Eaton (Ireland), ABB (Switzerland), Hitachi Energy Ltd. (Switzerland), Honeywell International Inc. (US), HOMER Energy (US), S&C Electric Company (US), Power Analytics Global Corporation (US) among others.
Table of Contents
1 INTRODUCTION 36
1.1 STUDY OBJECTIVES 36
1.2 MARKET DEFINITION 36
1.2.1 INCLUSIONS AND EXCLUSIONS 37
TABLE 1 MICROGRID MARKET: INCLUSIONS AND EXCLUSIONS 37
TABLE 2 MICROGRID MARKET: INCLUSIONS AND EXCLUSIONS, BY OFFERING 37
1.3 STUDY SCOPE 38
1.3.1 MARKETS COVERED 38
FIGURE 1 MICROGRID MARKET SEGMENTATION 38
1.3.2 REGIONAL SCOPE 38
1.3.3 YEARS CONSIDERED 39
1.3.4 CURRENCY CONSIDERED 39
1.3.5 UNITS CONSIDERED 39
1.4 LIMITATIONS 39
1.5 STAKEHOLDERS 40
1.6 SUMMARY OF CHANGES 40
1.7 IMPACT OF RECESSION 41
2 RESEARCH METHODOLOGY 42
2.1 RESEARCH DATA 42
FIGURE 2 MICROGRID MARKET: PROCESS FLOW OF MARKET SIZE ESTIMATION 42
FIGURE 3 MICROGRID MARKET: RESEARCH DESIGN 43
2.1.1 SECONDARY DATA 44
2.1.1.1 Major secondary sources 44
2.1.1.2 Key data from secondary sources 45
2.1.2 PRIMARY DATA 45
2.1.2.1 Key primary interview participants 46
2.1.2.2 Breakdown of primaries 46
2.1.2.3 Key data from primary sources 47
2.1.3 SECONDARY AND PRIMARY RESEARCH 48
2.1.3.1 Key industry insights 48
2.2 MARKET SIZE ESTIMATION 49
2.2.1 BOTTOM-UP APPROACH 49
2.2.1.1 Approach to derive market size using bottom-up analysis 49
FIGURE 4 MARKET SIZE ESTIMATION METHODOLOGY: BOTTOM-UP APPROACH 49
2.2.1.2 Approach to obtain company-specific information on microgrid value chain 50
2.2.2 TOP-DOWN APPROACH 50
2.2.2.1 Approach to derive market size using top-down analysis 50
FIGURE 5 MARKET SIZE ESTIMATION METHODOLOGY: TOP-DOWN APPROACH 50
2.3 FACTOR ANALYSIS 51
2.3.1 SUPPLY-SIDE ANALYSIS 51
FIGURE 6 MARKET SIZE ESTIMATION METHODOLOGY (SUPPLY SIDE): REVENUE GENERATED FROM SALES OF MICROGRIDS 51
FIGURE 7 MARKET SIZE ESTIMATION METHODOLOGY (SUPPLY SIDE): REVENUE GENERATED FROM SALES OF MICROGRID HARDWARE, SOFTWARE, AND SERVICES 52
2.3.2 DEMAND-SIDE ANALYSIS 53
FIGURE 8 MARKET SIZE ESTIMATION METHODOLOGY (DEMAND SIDE): APPROACH TO ESTIMATE MICROGRID MARKET SIZE, BY REGION 53
FIGURE 9 MARKET SIZE ESTIMATION METHODOLOGY (DEMAND SIDE): APPROACH TO ESTIMATING COUNTRY-LEVEL MICROGRID MARKET SIZE 54
2.3.3 GROWTH FORECAST ASSUMPTIONS 55
TABLE 3 MICROGRID MARKET: KEY FORECAST ASSUMPTIONS 55
2.4 DATA TRIANGULATION 56
FIGURE 10 DATA TRIANGULATION 56
2.5 RESEARCH ASSUMPTIONS 57
TABLE 4 ASSUMPTIONS 57
2.6 RISK ASSESSMENT 58
TABLE 5 RISK ASSESSMENT 58
FIGURE 11 RISK ASSESSMENT 59
2.7 PARAMETERS CONSIDERED TO ANALYZE IMPACT OF RECESSION ON MICROGRID MARKET 59
3 EXECUTIVE SUMMARY 60
FIGURE 12 GRID-CONNECTED SEGMENT TO DOMINATE MICROGRID MARKET IN 2029 60
FIGURE 13 HARDWARE SEGMENT TO LEAD MICROGRID MARKET IN 2029 61
FIGURE 14 POWER GENERATORS SUB-SEGMENT TO HOLD LARGEST SHARE OF MICROGRID MARKET FOR HARDWARE IN 2024 61
FIGURE 15 COMMERCIAL & INDUSTRIAL BUILDINGS SEGMENT TO HOLD LARGEST SHARE OF MICROGRID MARKET IN 2029 62
FIGURE 16 1–5 MW SEGMENT TO HOLD LARGEST MARKET SHARE IN 2029 62
FIGURE 17 COMBINED HEAT & POWER (CHP) SEGMENT TO HOLD LARGEST MARKET SHARE IN 2029 63
FIGURE 18 ASIA PACIFIC TO RECORD HIGHEST CAGR DURING FORECAST PERIOD 64
4 PREMIUM INSIGHTS 65
4.1 ATTRACTIVE OPPORTUNITIES FOR PLAYERS IN MICROGRID MARKET 65
FIGURE 19 GROWING NEED FOR RURAL ELECTRIFICATION AND GREENHOUSE GAS EMISSION REDUCTION TO DRIVE MARKET 65
4.2 MICROGRID MARKET, BY OFFERING 65
FIGURE 20 HARDWARE SEGMENT TO HOLD LARGEST MARKET SHARE IN 2029 65
4.3 MICROGRID MARKET FOR HARDWARE, BY TYPE 66
FIGURE 21 POWER GENERATORS SEGMENT TO LEAD MARKET IN 2029 66
4.4 MICROGRID MARKET, BY CONNECTIVITY 66
FIGURE 22 GRID-CONNECTED SEGMENT TO HOLD LARGEST MARKET SHARE IN 2029 66
4.5 MICROGRID MARKET, BY POWER RATING 67
FIGURE 23 1–5 MW SEGMENT TO ACCOUNT FOR LARGEST MARKET SHARE DURING FORECAST PERIOD 67
4.6 MICROGRID MARKET, BY POWER SOURCE 67
FIGURE 24 COMBINED HEAT & POWER SEGMENT TO ACCOUNT FOR LARGEST MARKET SHARE IN 2029 67
4.7 MICROGRID MARKET, BY END USER 68
FIGURE 25 COMMERCIAL & INDUSTRIAL BUILDINGS SEGMENT TO HOLD LARGEST MARKET SHARE IN 2029 68
4.8 MICROGRID MARKET IN ASIA PACIFIC, BY END USER AND COUNTRY 69
FIGURE 26 COMMERCIAL & INDUSTRIAL BUILDINGS SEGMENT AND AUSTRALIA HELD LARGEST MARKET SHARES IN 2029 69
4.9 MICROGRID MARKET, BY COUNTRY 70
FIGURE 27 CHINA TO GROW AT SIGNIFICANT RATE DURING FORECAST PERIOD 70
5 MARKET OVERVIEW 71
5.1 INTRODUCTION 71
5.2 MARKET DYNAMICS 71
FIGURE 28 MICROGRID MARKET: DRIVERS, RESTRAINTS, OPPORTUNITIES, AND CHALLENGES 71
5.2.1 DRIVERS 72
5.2.1.1 Increasing emphasis on decarbonization 72
5.2.1.2 Growing need for reliable and uninterrupted power supply 72
5.2.1.3 Surging deployment of microgrids for rural electrification 73
5.2.1.4 Increasing cyberattacks on energy infrastructure 73
5.2.1.5 Rising demand for electric vehicle (EV) charging infrastructure 74
5.2.1.6 Increasing need for demand response and load management capabilities 74
5.2.1.7 Economic and environmental advantages associated with use of microgrids 74
FIGURE 29 MICROGRID MARKET: DRIVERS AND THEIR IMPACT 76
5.2.2 RESTRAINTS 76
5.2.2.1 High installation and maintenance costs 76
5.2.2.2 Complexities in grid interconnections 77
5.2.2.3 Low economies of scale 77
FIGURE 30 MICROGRID MARKET: RESTRAINTS AND THEIR IMPACT 77
5.2.3 OPPORTUNITIES 78
5.2.3.1 Increasing number of microgrid projects across different industries and sectors 78
5.2.3.2 Growing energy demand and adoption of renewable energy in Asia Pacific 78
5.2.3.3 Rising interest of investors in Energy-as-a-Service (EaaS) business model to minimize cost 79
TABLE 6 BUSINESS MODEL OF COMPANIES IN MICROGRID ECOSYSTEM 79
5.2.3.4 Rising government support for microgrid projects 79
5.2.3.5 Digitalization and smart grid integration 80
5.2.3.6 Development of Artificial Intelligence (AI)-driven microgrid optimization solutions 81
FIGURE 31 MICROGRID MARKET: OPPORTUNITIES AND THEIR IMPACT 81
5.2.4 CHALLENGES 82
5.2.4.1 Lack of standardization and regulatory frameworks related to microgrid operations 82
5.2.4.2 Technical challenges related to microgrids operating in island mode 82
5.2.4.3 Complexities associated with standardizing scalability of microgrids 82
5.2.4.4 Difficulties in planning and designing large-sized microgrids 82
FIGURE 32 MICROGRID MARKET: CHALLENGES AND THEIR IMPACT 83
5.3 VALUE CHAIN ANALYSIS 83
FIGURE 33 MICROGRID MARKET: VALUE CHAIN ANALYSIS 84
5.4 ECOSYSTEM ANALYSIS 85
FIGURE 34 MICROGRID MARKET: ECOSYSTEM ANALYSIS 86
TABLE 7 COMPANIES AND THEIR ROLES IN MICROGRID ECOSYSTEM 87
FIGURE 35 KEY COMPANIES IN MICROGRID ECOSYSTEM 88
5.5 PRICING ANALYSIS 89
5.5.1 AVERAGE SELLING PRICE OF MICROGRIDS, BY END USER AND PROJECT SIZE 89
FIGURE 36 AVERAGE SELLING PRICE TREND OF MICROGRIDS, BY KEY END USER AND PROJECT SIZE (USD MILLION/MW) 89
TABLE 8 AVERAGE SELLING PRICE OF MICROGRIDS, BY KEY END USER AND PROJECT SIZE (USD MILLION/MW) 89
5.5.2 HISTORICAL PRICING TREND 90
FIGURE 37 AVERAGE COST OF MICROGRID PROJECTS, BY TOP FOUR END USERS, 2020–2023 (USD MILLION/MW) 90
5.5.3 AVERAGE COST OF MICROGRID PROJECTS, BY REGION 90
FIGURE 38 AVERAGE COST OF UTILITIES MICROGRID PROJECTS, BY REGION, 2020–2029 (USD MILLION/MW) 90
FIGURE 39 AVERAGE COST OF COMMUNITIES MICROGRID PROJECTS, BY REGION, 2020–2029 (USD MILLION/MW) 91
FIGURE 40 AVERAGE COST OF INSTITUTES & CAMPUSES MICROGRID PROJECTS, BY REGION, 2020–2029 (USD MILLION/MW) 91
FIGURE 41 AVERAGE COST OF COMMERCIAL & INDUSTRIAL BUILDINGS MICROGRID PROJECTS, BY REGION, 2020–2029 (USD MILLION/MW) 92
5.6 INVESTMENT AND FUNDING SCENARIO 92
FIGURE 42 INVESTMENT AND FUNDING SCENARIO, 2017–2021 (USD MILLION) 92
5.7 TRENDS/DISRUPTIONS IMPACTING CUSTOMERS’ BUSINESSES 93
FIGURE 43 TRENDS/DISRUPTIONS IMPACTING CUSTOMERS’ BUSINESSES 93
5.8 TECHNOLOGY ANALYSIS 93
5.8.1 KEY TECHNOLOGIES 93
5.8.1.1 Blockchain-based microgrids 93
5.8.1.2 Microgrid smart controllers 94
5.8.2 COMPLEMENTARY TECHNOLOGIES 94
5.8.2.1 Smart microgrids 94
5.8.2.2 Advanced solar panel technology 94
5.8.3 ADJACENT TECHNOLOGIES 95
5.8.3.1 AI-based microgrids 95
5.8.3.2 Virtual power plants (VPPs) 95
5.8.3.3 Advanced materials for microgrids 96
5.9 PORTER’S FIVE FORCES ANALYSIS 96
TABLE 9 MICROGRID MARKET: PORTER’S FIVE FORCES ANALYSIS 97
FIGURE 44 MICROGRID MARKET: PORTER’S FIVE FORCES ANALYSIS 97
5.9.1 THREAT OF NEW ENTRANTS 97
5.9.2 THREAT OF SUBSTITUTES 98
5.9.3 BARGAINING POWER OF SUPPLIERS 98
5.9.4 BARGAINING POWER OF BUYERS 99
5.9.5 INTENSITY OF COMPETITIVE RIVALRY 99
5.10 KEY STAKEHOLDERS AND BUYING CRITERIA 100
5.10.1 KEY STAKEHOLDERS IN BUYING PROCESS 100
FIGURE 45 INFLUENCE OF STAKEHOLDERS ON BUYING PROCESS FOR TOP THREE END USERS 100
TABLE 10 INFLUENCE OF STAKEHOLDERS ON BUYING PROCESS FOR TOP THREE END USERS (%) 100
5.10.2 BUYING CRITERIA 101
FIGURE 46 KEY BUYING CRITERIA FOR TOP THREE END USERS 101
TABLE 11 KEY BUYING CRITERIA FOR TOP THREE END USERS 101
5.11 CASE STUDY ANALYSIS 102
5.11.1 HITACHI ENERGY’S TECHNOLOGY POWERED ODD SOCCER CLUB’S SKAGERAK ARENA IN NORWAY 102
5.11.2 CUMMINS IMPLEMENTED AUSTRALIA’S LARGEST HYBRID RENEWABLE ENERGY MICROGRID AT GOLD FIELDS’ SITE 102
5.11.3 GE PROVIDED CAMPUS-BASED MICROGRID SYSTEM TO UNIVERSITY OF ONTARIO INSTITUTE OF TECHNOLOGY, CANADA 103
5.11.4 GE PROVIDED RESILIENT AND RELIABLE POWER SUPPLY SYSTEMS FOR NAVY SHIPYARD PROJECT IN PHILADELPHIA, US 103
5.11.5 SOLAR ONE ENERGY USED HOMER GRID TO MODEL ENERGY COSTS FOR ACE NATURAL 104
5.11.6 S&C ELECTRIC COMPANY PROVIDED ENERGY STORAGE INTEGRATOR FOR MICROGRID PROJECT BY HALF MOON VENTURES 104
5.11.7 S&C ELECTRIC COMPANY PROVIDED ENERGY STORAGE SYSTEMS FOR MICROGRIDS OF ERGON ENERGY 105
5.11.8 AEG POWER SOLUTIONS PROVIDED GRID-FORMING INVERTER TO MBOGO VALLEY TEA FACTORY FOR UNINTERRUPTED POWER SUPPLY 106
5.11.9 HITACHI ENERGY PROVIDED AFFORDABLE POWER TO SOUTH AFRICA 107
5.12 TRADE ANALYSIS 108
5.12.1 IMPORT SCENARIO FOR HS CODE 8501 108
FIGURE 47 IMPORT DATA FOR HS CODE 8501-COMPLIANT ELECTRIC MOTORS AND GENERATORS (EXCLUDING GENERATING SETS), BY COUNTRY, 2018–2022 (USD MILLION) 108
TABLE 12 IMPORT DATA FOR HS CODE 8501-COMPLIANT ELECTRIC MOTORS AND GENERATORS (EXCLUDING GENERATING SETS), BY COUNTRY, 2018–2022 (USD MILLION) 109
5.12.2 EXPORT SCENARIO FOR HS CODE 8501 110
FIGURE 48 EXPORT DATA FOR HS CODE 8501-COMPLIANT ELECTRIC MOTORS AND GENERATORS (EXCLUDING GENERATING SETS), BY COUNTRY, 2018–2022 (USD MILLION) 110
TABLE 13 EXPORT DATA FOR HS CODE 8501-COMPLIANT ELECTRIC MOTORS AND GENERATORS (EXCLUDING GENERATING SETS), BY COUNTRY, 2018–2022 (USD MILLION) 111
5.12.3 IMPORT SCENARIO FOR HS CODE 854231 112
FIGURE 49 IMPORT DATA FOR HS CODE 854231-COMPLIANT ELECTRONIC-INTEGRATED CIRCUITS AS PROCESSORS AND CONTROLLERS, BY COUNTRY, 2018–2022 (USD MILLION) 112
TABLE 14 IMPORT DATA FOR HS CODE 854231-COMPLIANT ELECTRONIC-INTEGRATED CIRCUITS AS PROCESSORS AND CONTROLLERS, BY COUNTRY, 2018–2022 (USD MILLION) 112
5.12.4 EXPORT SCENARIO FOR HS CODE 854231 113
FIGURE 50 EXPORT DATA FOR HS CODE 854231-COMPLIANT ELECTRONIC-INTEGRATED CIRCUITS AS PROCESSORS AND CONTROLLERS, BY COUNTRY, 2018–2022 (USD MILLION) 113
TABLE 15 EXPORT DATA FOR HS CODE 854231-COMPLIANT ELECTRONIC-INTEGRATED CIRCUITS AS PROCESSORS AND CONTROLLERS, BY COUNTRY, 2018–2022 (USD MILLION) 113
5.13 PATENT ANALYSIS 114
FIGURE 51 TOP 10 COMPANIES WITH HIGHEST NUMBER OF PATENT APPLICATIONS IN LAST 10 YEARS 114
FIGURE 52 NUMBER OF PATENTS GRANTED PER YEAR, 2014–2023 114
TABLE 16 NUMBER OF PATENTS RELATED TO MICROGRIDS REGISTERED IN LAST 10 YEARS 115
TABLE 17 MICROGRID MARKET: LIST OF KEY PATENTS, 2020–2023 116
5.14 KEY CONFERENCES AND EVENTS, 2024–2025 120
TABLE 18 MICROGRID MARKET: LIST OF CONFERENCES AND EVENTS, 2024–2025 120
5.15 REGULATORY LANDSCAPE 122
5.15.1 REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS 122
TABLE 19 NORTH AMERICA: LIST OF REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS 122
TABLE 20 EUROPE: LIST OF REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS 123
TABLE 21 ASIA PACIFIC: LIST OF REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS 123
5.15.2 STANDARDS 124
TABLE 22 STANDARDS RELATED TO MICROGRIDS 124
5.15.3 REGULATIONS 125
5.15.3.1 North America 125
5.15.3.1.1 US 125
5.15.3.1.2 Canada 125
5.15.3.2 Europe 125
5.15.3.2.1 European Union 125
5.15.3.2.2 Germany 125
5.15.3.2.3 UK 126
5.15.3.3 Asia Pacific 126
5.15.3.3.1 China 126
5.15.3.3.2 India 126
5.15.3.3.3 Japan 126
5.15.3.3.4 Australia 126
5.15.3.4 RoW 126
5.15.3.4.1 Brazil 126
5.15.3.4.2 Kenya 126
6 MICROGRID TYPES 127
6.1 INTRODUCTION 127
FIGURE 53 MICROGRID TYPES 127
6.2 AC MICROGRID 127
6.2.1 RISING NEED FOR RURAL AND REMOTE ELECTRIFICATION TO DRIVE DEMAND 127
6.3 DC MICROGRID 129
6.3.1 RISING DEMAND FROM DATA CENTERS TO PROPEL MARKET 129
6.4 HYBRID MICROGRID 130
6.4.1 GRID INDEPENDENCE AND ISLANDING CAPABILITIES TO FUEL DEMAND 130
7 MICROGRID PATTERNS 132
7.1 INTRODUCTION 132
FIGURE 54 MICROGRID PATTERNS 132
7.2 URBAN/METROPOLITAN 132
7.2.1 INCREASING POWER REQUIREMENT FROM CRITICAL INFRASTRUCTURE TO BOOST DEMAND 132
FIGURE 55 DRIVERS OF MICROGRID MARKET IN URBAN/METROPOLITAN AREAS 134
7.3 SEMI-URBAN 134
7.3.1 GROWING NEED FOR UNINTERRUPTED POWER SUPPLY IN INDUSTRIAL FACILITIES TO DRIVE MARKET 134
7.4 RURAL/ISLAND 135
7.4.1 RISING DEMAND FOR POWER SUPPLY FROM REMOTE AREAS AND AGRICULTURAL FARMS TO FUEL MARKET GROWTH 135
8 MICROGRID MARKET, BY POWER RATING 137
8.1 INTRODUCTION 138
TABLE 23 MICROGRID MARKET, BY POWER RATING, 2020–2023 (USD BILLION) 138
FIGURE 56 1–5 MW SEGMENT TO HOLD LARGEST MARKET SHARE IN 2029 138
TABLE 24 MICROGRID MARKET, BY POWER RATING, 2024–2029 (USD BILLION) 139
8.2 <1 MW 139
8.2.1 INCREASING USE IN REMOTE AREAS, UTILITIES, AND TEMPORARY CONSTRUCTION SITES TO DRIVE MARKET 139
8.3 1–5 MW 140
8.3.1 RISING DEPLOYMENT IN AGRICULTURE INDUSTRY, COMMERCIAL BUILDINGS, AND INSTITUTIONS TO FUEL MARKET GROWTH 140
8.4 >5–10 MW 141
8.4.1 HIGH ADOPTION IN HOSPITALS, MILITARY BASES, AND DATA CENTERS TO PROPEL MARKET 141
8.5 >10 MW 141
8.5.1 SURGING DEMAND FROM REMOTE MINING SITES, DATA CENTERS, AND HEAVY MACHINERY FACILITIES TO FUEL MARKET GROWTH 141
9 MICROGRID MARKET, BY POWER SOURCE 143
9.1 INTRODUCTION 144
FIGURE 57 MICROGRID MARKET, BY POWER SOURCE 144
TABLE 25 MICROGRID MARKET, BY POWER SOURCE, 2020–2023 (USD BILLION) 145
FIGURE 58 COMBINED HEAT & POWER SEGMENT TO ACCOUNT FOR LARGEST MARKET SHARE IN 2029 145
TABLE 26 MICROGRID MARKET, BY POWER SOURCE, 2024–2029 (USD BILLION) 146
9.2 NATURAL GAS 146
9.2.1 INCREASING NEED FOR CLEANER ENERGY SOLUTIONS OVER COAL- AND OIL-BASED ONES TO DRIVE MARKET 146
9.3 SOLAR PV 147
9.3.1 REDUCED GREENHOUSE GAS EMISSIONS AND LOW CARBON FOOTPRINT TO PROPEL DEMAND 147
9.4 COMBINED HEAT AND POWER (CHP) 149
9.4.1 INCREASING DEMAND FROM UNIVERSITIES/INSTITUTIONS AND MILITARY SECTOR TO BOOST MARKET GROWTH 149
9.5 DIESEL 150
9.5.1 RISING DEMAND FOR RELIABLE ELECTRICITY SUPPLY DURING POWER OUTAGES TO DRIVE DEMAND 150
9.6 FUEL CELL 151
9.6.1 COST-EFFECTIVENESS, HIGH RELIABILITY, MODULARITY, AND SCALABILITY FEATURES TO DRIVE DEMAND 151
9.7 OTHERS 152
10 MICROGRID MARKET, BY CONNECTIVITY 153
10.1 INTRODUCTION 154
FIGURE 59 MICROGRID MARKET, BY CONNECTIVITY 154
TABLE 27 MICROGRID MARKET, BY CONNECTIVITY, 2020–2023 (USD BILLION) 154
FIGURE 60 GRID-CONNECTED SEGMENT TO RECORD HIGHER CAGR DURING FORECAST PERIOD 155
TABLE 28 MICROGRID MARKET, BY CONNECTIVITY, 2024–2029 (USD BILLION) 155
10.2 GRID-CONNECTED 156
10.2.1 EXPANSION OF UTILITY-BASED GRID NETWORKS TO DRIVE DEMAND 156
TABLE 29 GRID-CONNECTED: MICROGRID MARKET, BY REGION, 2020–2023 (USD BILLION) 157
FIGURE 61 ASIA PACIFIC TO EXHIBIT FASTEST GROWTH IN MICROGRID MARKET FOR GRID-CONNECTED SEGMENT DURING FORECAST PERIOD 157
TABLE 30 GRID-CONNECTED: MICROGRID MARKET, BY REGION, 2024–2029 (USD BILLION) 158
10.3 OFF-GRID 158
10.3.1 BENEFITS SUCH AS COST SAVINGS AND ENVIRONMENTALLY FRIENDLINESS ASSOCIATED WITH USE OF RENEWABLE ENERGY SOURCES TO BOOST ADOPTION 158
TABLE 31 OFF-GRID: MICROGRID MARKET, BY REGION, 2020–2023 (USD BILLION) 159
FIGURE 62 ASIA PACIFIC TO HOLD LARGEST SHARE OF MICROGRID MARKET FOR OFF-GRID SEGMENT IN 2029 160
TABLE 32 OFF-GRID: MICROGRID MARKET, BY REGION, 2024–2029 (USD BILLION) 160
11 MICROGRID MARKET, BY OFFERING 161
11.1 INTRODUCTION 162
FIGURE 63 MICROGRID MARKET, BY OFFERING 162
TABLE 33 MICROGRID MARKET, BY OFFERING, 2020–2023 (USD BILLION) 162
FIGURE 64 SOFTWARE SEGMENT TO RECORD FASTEST GROWTH DURING FORECAST PERIOD 163
TABLE 34 MICROGRID MARKET, BY OFFERING, 2024–2029 (USD BILLION) 163
11.2 HARDWARE 163
FIGURE 65 MICROGRID HARDWARE MARKET, BY TYPE 164
TABLE 35 HARDWARE: MICROGRID MARKET, BY TYPE, 2020–2023 (USD BILLION) 164
FIGURE 66 POWER GENERATORS SUB-SEGMENT TO HOLD LARGEST SHARE OF MICROGRID MARKET FOR HARDWARE IN 2029 164
TABLE 36 HARDWARE: MICROGRID MARKET, BY TYPE, 2024–2029 (USD BILLION) 165
TABLE 37 HARDWARE: MICROGRID MARKET, BY REGION, 2020–2023 (USD BILLION) 165
FIGURE 67 ASIA PACIFIC TO RECORD HIGHEST CAGR IN MICROGRID MARKET FOR HARDWARE DURING FORECAST PERIOD 166
TABLE 38 HARDWARE: MICROGRID MARKET, BY REGION, 2024–2029 (USD BILLION) 166
11.2.1 POWER GENERATORS 166
11.2.1.1 Growing need to achieve reliable electricity supply from different fuel sources to boost demand 166
TABLE 39 POWER GENERATORS: MICROGRID MARKET FOR HARDWARE, BY REGION, 2020–2023 (USD BILLION) 168
TABLE 40 POWER GENERATORS: MICROGRID MARKET FOR HARDWARE, BY REGION, 2024–2029 (USD BILLION) 168
11.2.2 ENERGY STORAGE SYSTEMS 168
11.2.2.1 Growing requirement for energy storage systems for uninterrupted power supply and black-start applications to drive market 168
TABLE 41 ENERGY STORAGE SYSTEMS: MICROGRID MARKET FOR HARDWARE, BY REGION, 2020–2023 (USD BILLION) 170
TABLE 42 ENERGY STORAGE SYSTEMS: MICROGRID MARKET FOR HARDWARE, BY REGION, 2024–2029 (USD BILLION) 170
11.2.2.1.1 Lithium-ion batteries 170
11.2.2.1.2 Lead-acid batteries 171
11.2.2.1.3 Flow batteries 172
11.2.2.1.4 Flywheels 173
11.2.2.1.5 Others 174
11.2.3 CONTROLLERS 175
11.2.3.1 Real-time monitoring and management of distributed energy resources for optimal grid stability and efficiency to fuel market growth 175
TABLE 43 CONTROLLERS: MICROGRID MARKET FOR HARDWARE, BY REGION, 2020–2023 (USD BILLION) 176
TABLE 44 CONTROLLERS: MICROGRID MARKET FOR HARDWARE, BY REGION, 2024–2029 (USD BILLION) 176
11.3 SOFTWARE 177
11.3.1 INCREASING DEMAND FOR PREDICTIVE AND REMOTE MAINTENANCE TO PROPEL MARKET 177
TABLE 45 SOFTWARE: MICROGRID MARKET, BY REGION, 2020–2023 (USD BILLION) 178
FIGURE 68 AMERICAS TO ACCOUNT FOR LARGEST SHARE OF MICROGRID MARKET FOR SOFTWARE IN 2029 179
TABLE 46 SOFTWARE: MICROGRID MARKET, BY REGION, 2024–2029 (USD BILLION) 179
11.4 SERVICES 180
11.4.1 GROWING NUMBER OF MICROGRID INSTALLATIONS TO CREATE GROWTH OPPORTUNITIES FOR MICROGRID ENGINEERING AND CONSULTING SERVICE PROVIDERS 180
TABLE 47 SERVICES: MICROGRID MARKET, BY REGION, 2020–2023 (USD BILLION) 181
FIGURE 69 ASIA PACIFIC TO EXHIBIT HIGHEST CAGR IN MICROGRID MARKET FOR SERVICES DURING FORECAST PERIOD 181
TABLE 48 SERVICES: MICROGRID MARKET, BY REGION, 2024–2029 (USD BILLION) 182
12 MICROGRID MARKET, BY END USER 183
12.1 INTRODUCTION 184
FIGURE 70 MICROGRID MARKET, BY END USER 184
TABLE 49 MICROGRID MARKET, BY END USER, 2020–2023 (USD BILLION) 185
FIGURE 71 COMMERCIAL & INDUSTRIAL BUILDINGS SEGMENT TO RECORD HIGHEST CAGR DURING FORECAST PERIOD 185
TABLE 50 MICROGRID MARKET, BY END USER, 2024–2029 (USD BILLION) 186
12.2 COMMERCIAL & INDUSTRIAL BUILDINGS 186
12.2.1 INCREASING DEMAND FOR UNINTERRUPTED ELECTRICITY SUPPLY IN DATA CENTERS, MANUFACTURING FACILITIES, AND OFFICES TO DRIVE MARKET 186
TABLE 51 COMMERCIAL & INDUSTRIAL BUILDINGS: MICROGRID MARKET, BY REGION, 2020–2023 (USD BILLION) 187
FIGURE 72 ASIA PACIFIC TO RECORD FASTEST GROWTH IN MICROGRID MARKET FOR COMMERCIAL & INDUSTRIAL BUILDINGS DURING FORECAST PERIOD 188
TABLE 52 COMMERCIAL & INDUSTRIAL BUILDINGS: MICROGRID MARKET, BY REGION, 2024–2029 (USD BILLION) 188
12.3 REMOTE AREAS 189
12.3.1 GROWING NEED TO SET UP MICROGRID PROJECTS IN REMOTE AREAS FOR ENERGY DISTRIBUTION TO DRIVE MARKET 189
TABLE 53 REMOTE AREAS: MICROGRID MARKET, BY REGION, 2020–2023 (USD BILLION) 190
FIGURE 73 ASIA PACIFIC TO RECORD HIGHEST CAGR IN MICROGRID MARKET FOR REMOTE AREAS DURING FORECAST PERIOD 190
TABLE 54 REMOTE AREAS: MICROGRID MARKET, BY REGION, 2024–2029 (USD BILLION) 191
12.4 MILITARY FACILITIES 191
12.4.1 INCREASING USE OF MOBILE MICROGRIDS TO DRIVE MARKET 191
TABLE 55 MILITARY FACILITIES: MICROGRID MARKET, BY REGION, 2020–2023 (USD BILLION) 192
FIGURE 74 ASIA PACIFIC TO HOLD LARGEST SHARE OF MICROGRID MARKET FOR MILITARY FACILITIES IN 2029 192
TABLE 56 MILITARY FACILITIES: MICROGRID MARKET, BY REGION, 2024–2029 (USD BILLION) 193
12.5 GOVERNMENT BUILDINGS 193
12.5.1 INTEGRATION OF MICROGRIDS INTO SMART CITY PROJECTS TO BOOST MARKET GROWTH 193
TABLE 57 GOVERNMENT BUILDINGS: MICROGRID MARKET, BY REGION, 2020–2023 (USD BILLION) 194
FIGURE 75 ASIA PACIFIC TO EXHIBIT FASTEST GROWTH IN MICROGRID MARKET FOR GOVERNMENT BUILDINGS DURING FORECAST PERIOD 194
TABLE 58 GOVERNMENT BUILDINGS: MICROGRID MARKET, BY REGION, 2024–2029 (USD BILLION) 194
12.6 UTILITIES 195
12.6.1 NEED FOR LOW-COST ALTERNATIVES TO MEET PEAK DEMAND REQUIREMENTS TO FUEL MARKET GROWTH 195
TABLE 59 UTILITIES: MICROGRID MARKET, BY REGION, 2020–2023 (USD BILLION) 196
FIGURE 76 AMERICAS TO DOMINATE MICROGRID MARKET FOR UTILITIES IN 2029 196
TABLE 60 UTILITIES: MICROGRID MARKET, BY REGION, 2024–2029 (USD BILLION) 196
12.7 INSTITUTES & CAMPUSES 197
12.7.1 INCREASED ADOPTION OF LOCALIZED POWER GENERATION IN CAMPUSES TO SUPPORT MARKET GROWTH 197
TABLE 61 INSTITUTES & CAMPUSES: MICROGRID MARKET, BY REGION, 2020–2023 (USD BILLION) 198
FIGURE 77 ASIA PACIFIC TO HOLD LARGEST SHARE OF MICROGRID MARKET FOR INSTITUTES & CAMPUSES IN 2029 198
TABLE 62 INSTITUTES & CAMPUSES: MICROGRID MARKET, BY REGION, 2024–2029 (USD BILLION) 199
12.8 HEALTHCARE FACILITIES 199
12.8.1 NEED FOR UNINTERRUPTED POWER SUPPLY IN HEALTHCARE FACILITIES TO DRIVE MARKET 199
TABLE 63 HEALTHCARE FACILITIES: MICROGRID MARKET, BY REGION, 2020–2023 (USD BILLION) 200
FIGURE 78 ASIA PACIFIC TO EXHIBIT HIGHEST CAGR IN MICROGRID MARKET FOR HEALTHCARE FACILITIES DURING FORECAST PERIOD 201
TABLE 64 HEALTHCARE FACILITIES: MICROGRID MARKET, BY REGION, 2024–2029 (USD BILLION) 201
13 MICROGRID MARKET, BY REGION 202
13.1 INTRODUCTION 203
FIGURE 79 MICROGRID MARKET, BY REGION 203
FIGURE 80 SOUTH KOREA TO EXHIBIT HIGHEST CAGR DURING FORECAST PERIOD 203
TABLE 65 MICROGRID MARKET, BY REGION, 2020–2023 (USD BILLION) 204
FIGURE 81 ASIA PACIFIC TO HOLD LARGEST SHARE OF MICROGRID MARKET IN 2029 204
TABLE 66 MICROGRID MARKET, BY REGION, 2024–2029 (USD BILLION) 204
TABLE 67 MICROGRID INSTALLED CAPACITY, BY REGION, 2020–2023 (MW) 205
TABLE 68 MICROGRID INSTALLED CAPACITY, BY REGION, 2024–2029 (MW) 205
13.2 AMERICAS 206
13.2.1 RECESSION IMPACT ON MICROGRID MARKET IN AMERICAS 206
FIGURE 82 AMERICAS: MICROGRID MARKET SNAPSHOT 207
TABLE 69 AMERICAS: MICROGRID MARKET, BY REGION, 2020–2023 (USD BILLION) 208
TABLE 70 AMERICAS: MICROGRID MARKET, BY REGION, 2024–2029 (USD BILLION) 208
TABLE 71 AMERICAS: MICROGRID MARKET, BY CONNECTIVITY, 2020–2023 (USD BILLION) 208
TABLE 72 AMERICAS: MICROGRID MARKET, BY CONNECTIVITY, 2024–2029 (USD BILLION) 208
TABLE 73 AMERICAS: MICROGRID MARKET, BY OFFERING, 2020–2023 (USD BILLION) 209
TABLE 74 AMERICAS: MICROGRID MARKET, BY OFFERING, 2024–2029 (USD BILLION) 209
TABLE 75 AMERICAS: MICROGRID MARKET FOR HARDWARE, BY TYPE, 2020–2023 (USD BILLION) 209
TABLE 76 AMERICAS: MICROGRID MARKET FOR HARDWARE, BY TYPE, 2024–2029 (USD BILLION) 209
TABLE 77 AMERICAS: MICROGRID MARKET, BY END USER, 2020–2023 (USD BILLION) 210
TABLE 78 AMERICAS: MICROGRID MARKET, BY END USER, 2024–2029 (USD BILLION) 210
13.2.2 NORTH AMERICA 210
TABLE 79 NORTH AMERICA: MICROGRID MARKET, BY COUNTRY, 2020–2023 (USD BILLION) 211
TABLE 80 NORTH AMERICA: MICROGRID MARKET, BY COUNTRY, 2024–2029 (USD BILLION) 211
TABLE 81 NORTH AMERICA: MICROGRID MARKET, BY CONNECTIVITY, 2020–2023 (USD BILLION) 211
TABLE 82 NORTH AMERICA: MICROGRID MARKET, BY CONNECTIVITY, 2024–2029 (USD BILLION) 211
TABLE 83 NORTH AMERICA: MICROGRID MARKET, BY OFFERING, 2020–2023 (USD BILLION) 212
TABLE 84 NORTH AMERICA: MICROGRID MARKET, BY OFFERING, 2024–2029 (USD BILLION) 212
TABLE 85 NORTH AMERICA: MICROGRID MARKET FOR HARDWARE, BY TYPE, 2020–2023 (USD BILLION) 212
TABLE 86 NORTH AMERICA: MICROGRID MARKET FOR HARDWARE, BY TYPE, 2024–2029 (USD BILLION) 212
TABLE 87 NORTH AMERICA: MICROGRID MARKET, BY END USER, 2020–2023 (USD BILLION) 213
TABLE 88 NORTH AMERICA: MICROGRID MARKET, BY END USER, 2024–2029 (USD BILLION) 213
13.2.2.1 US 214
13.2.2.1.1 Increasing investment in clean energy sources for power generation to drive market 214
13.2.2.2 Canada 215
13.2.2.2.1 Rising microgrid installations in remote areas to foster market growth 215
13.2.2.3 Mexico 216
13.2.2.3.1 Growing support for renewable energy to ensure grid resilience to augment market growth 216
13.2.3 SOUTH AMERICA 216
TABLE 89 SOUTH AMERICA: MICROGRID MARKET, BY COUNTRY, 2020–2023 (USD BILLION) 216
TABLE 90 SOUTH AMERICA: MICROGRID MARKET, BY COUNTRY, 2024–2029 (USD BILLION) 217
TABLE 91 SOUTH AMERICA: MICROGRID MARKET, BY CONNECTIVITY, 2020–2023 (USD BILLION) 217
TABLE 92 SOUTH AMERICA: MICROGRID MARKET, BY CONNECTIVITY, 2024–2029 (USD BILLION) 217
TABLE 93 SOUTH AMERICA: MICROGRID MARKET, BY OFFERING, 2020–2023 (USD BILLION) 217
TABLE 94 SOUTH AMERICA: MICROGRID MARKET, BY OFFERING, 2024–2029 (USD BILLION) 218
TABLE 95 SOUTH AMERICA: MICROGRID MARKET FOR HARDWARE, BY TYPE, 2020–2023 (USD BILLION) 218
TABLE 96 SOUTH AMERICA: MICROGRID MARKET FOR HARDWARE, BY TYPE, 2024–2029 (USD BILLION) 218
TABLE 97 SOUTH AMERICA: MICROGRID MARKET, BY END USER, 2020–2023 (USD BILLION) 219
TABLE 98 SOUTH AMERICA: MICROGRID MARKET, BY END USER, 2024–2029 (USD BILLION) 219
13.2.3.1 Brazil 219
13.2.3.1.1 Government initiatives to ensure uninterrupted power supply in rural areas to propel market 219
13.2.3.2 Argentina 220
13.2.3.2.1 Focus on reducing dependence on fossil fuels for electricity generation to facilitate market growth 220
13.2.3.3 Rest of South America 220
13.3 EUROPE 221
13.3.1 RECESSION IMPACT ON MICROGRID MARKET IN EUROPE 221
FIGURE 83 EUROPE: MICROGRID MARKET SNAPSHOT 222
TABLE 99 EUROPE: MICROGRID MARKET, BY COUNTRY, 2020–2023 (USD BILLION) 223
TABLE 100 EUROPE: MICROGRID MARKET, BY COUNTRY, 2024–2029 (USD BILLION) 223
TABLE 101 EUROPE: MICROGRID MARKET, BY CONNECTIVITY, 2020–2023 (USD BILLION) 223
TABLE 102 EUROPE: MICROGRID MARKET, BY CONNECTIVITY, 2024–2029 (USD BILLION) 224
TABLE 103 EUROPE: MICROGRID MARKET, BY OFFERING, 2020–2023 (USD BILLION) 224
TABLE 104 EUROPE: MICROGRID MARKET, BY OFFERING, 2024–2029 (USD BILLION) 224
TABLE 105 EUROPE: MICROGRID MARKET FOR HARDWARE, BY TYPE, 2020–2023 (USD BILLION) 224
TABLE 106 EUROPE: MICROGRID MARKET FOR HARDWARE, BY TYPE, 2024–2029 (USD BILLION) 225
TABLE 107 EUROPE: MICROGRID MARKET, BY END USER, 2020–2023 (USD BILLION) 225
TABLE 108 EUROPE: MICROGRID MARKET, BY END USER, 2024–2029 (USD BILLION) 225
13.3.2 UK 226
13.3.2.1 Surging adoption of microgrids to prevent waste heat generation to boost market growth 226
13.3.3 GERMANY 227
13.3.3.1 Increasing deployment of solar PV technologies to fuel market growth 227
13.3.4 FRANCE 228
13.3.4.1 Rising focus on clean energy generation to augment demand for microgrids 228
13.3.5 ITALY 228
13.3.5.1 Growing efforts to minimize GHG emissions to contribute to market growth 228
13.3.6 REST OF EUROPE 229
13.4 ASIA PACIFIC 230
13.4.1 RECESSION IMPACT ON MICROGRID MARKET IN ASIA PACIFIC 230
FIGURE 84 ASIA PACIFIC: MICROGRID MARKET SNAPSHOT 231
TABLE 109 ASIA PACIFIC: MICROGRID MARKET, BY COUNTRY, 2020–2023 (USD BILLION) 232
TABLE 110 ASIA PACIFIC: MICROGRID MARKET, BY COUNTRY, 2024–2029 (USD BILLION) 232
TABLE 111 ASIA PACIFIC: MICROGRID MARKET, BY CONNECTIVITY, 2020–2023 (USD BILLION) 232
TABLE 112 ASIA PACIFIC: MICROGRID MARKET, BY CONNECTIVITY, 2024–2029 (USD BILLION) 233
TABLE 113 ASIA PACIFIC: MICROGRID MARKET, BY OFFERING, 2020–2023 (USD BILLION) 233
TABLE 114 ASIA PACIFIC: MICROGRID MARKET, BY OFFERING, 2024–2029 (USD BILLION) 233
TABLE 115 ASIA PACIFIC: MICROGRID MARKET FOR HARDWARE, BY TYPE, 2020–2023 (USD BILLION) 233
TABLE 116 ASIA PACIFIC: MICROGRID MARKET FOR HARDWARE, BY TYPE, 2024–2029 (USD BILLION) 234
TABLE 117 ASIA PACIFIC: MICROGRID MARKET, BY END USER, 2020–2023 (USD BILLION) 234
TABLE 118 ASIA PACIFIC: MICROGRID MARKET, BY END USER, 2024–2029 (USD BILLION) 234
13.4.2 AUSTRALIA 235
13.4.2.1 Rising rural area electrification to accelerate market growth 235
13.4.3 CHINA 235
13.4.3.1 Increasing implementation of supportive regulatory frameworks related to microgrids to foster market growth 235
13.4.4 JAPAN 236
13.4.4.1 Growing focus on enhancing energy resilience to contribute to market growth 236
13.4.5 SOUTH KOREA 237
13.4.5.1 Rising investment in renewable energy projects to foster market growth 237
13.4.6 REST OF ASIA PACIFIC 238
13.5 ROW 238
13.5.1 RECESSION IMPACT ON MICROGRID MARKET IN ROW 238
TABLE 119 ROW: MICROGRID MARKET, BY REGION, 2020–2023 (USD BILLION) 239
TABLE 120 ROW: MICROGRID MARKET, BY REGION, 2024–2029 (USD BILLION) 239
FIGURE 85 AFRICA TO ACCOUNT FOR LARGER SHARE OF ROW MICROGRID MARKET IN 2029 239
TABLE 121 ROW: MICROGRID MARKET, BY CONNECTIVITY, 2020–2023 (USD BILLION) 240
TABLE 122 ROW: MICROGRID MARKET, BY CONNECTIVITY, 2024–2029 (USD BILLION) 240
TABLE 123 ROW: MICROGRID MARKET, BY OFFERING, 2020–2023 (USD BILLION) 240
TABLE 124 ROW: MICROGRID MARKET, BY OFFERING, 2024–2029 (USD BILLION) 240
TABLE 125 ROW: MICROGRID MARKET FOR HARDWARE, BY TYPE, 2020–2023 (USD BILLION) 241
TABLE 126 ROW: MICROGRID MARKET FOR HARDWARE, BY TYPE, 2024–2029 (USD BILLION) 241
TABLE 127 ROW: MICROGRID MARKET, BY END USER, 2020–2023 (USD BILLION) 241
TABLE 128 ROW: MICROGRID MARKET, BY END USER, 2024–2029 (USD BILLION) 242
13.5.2 MIDDLE EAST 242
TABLE 129 MIDDLE EAST: MICROGRID MARKET, BY REGION/COUNTRY, 2020–2023 (USD BILLION) 242
TABLE 130 MIDDLE EAST: MICROGRID MARKET, BY REGION/COUNTRY, 2024–2029 (USD BILLION) 242
13.5.2.1 GCC countries 243
13.5.2.1.1 Expansion of renewable energy capacity to contribute to market growth 243
13.5.2.2 Rest of Middle East 243
13.5.3 AFRICA 244
13.5.3.1 Rising need to improve energy access in remote areas to drive market 244
14 COMPETITIVE LANDSCAPE 245
14.1 INTRODUCTION 245
14.2 STRATEGIES ADOPTED BY KEY PLAYERS, 2020–2023 245
TABLE 131 OVERVIEW OF STRATEGIES ADOPTED BY KEY PLAYERS IN MICROGRID MARKET, 2020–2023 246
14.3 MARKET SHARE ANALYSIS, 2023 248
TABLE 132 MICROGRID MARKET: DEGREE OF COMPETITION, 2023 248
FIGURE 86 MICROGRID MARKET SHARE ANALYSIS, 2023 249
14.4 REVENUE ANALYSIS, 2018–2022 250
FIGURE 87 MICROGRID MARKET: REVENUE ANALYSIS OF FIVE KEY PLAYERS, 2018–2022 250
14.5 COMPANY VALUATION AND FINANCIAL METRICS, 2022 254
FIGURE 88 COMPANY VALUATION, 2022 (USD BILLION) 254
FIGURE 89 FINANCIAL METRICS (EV/EBITDA), 2022 254
14.6 BRAND/PRODUCT COMPARISON 255
FIGURE 90 BRAND/PRODUCT COMPARISON 255
14.7 COMPANY EVALUATION MATRIX: KEY PLAYERS, 2023 256
14.7.1 STARS 256
14.7.2 EMERGING LEADERS 256
14.7.3 PERVASIVE PLAYERS 256
14.7.4 PARTICIPANTS 257
FIGURE 91 MICROGRID MARKET: COMPANY EVALUATION MATRIX: KEY PLAYERS, 2023 257
14.7.5 COMPANY FOOTPRINT: KEY PLAYERS, 2023 258
14.7.5.1 Overall footprint 258
FIGURE 92 COMPANY OVERALL FOOTPRINT 258
14.7.5.2 Offering footprint 259
TABLE 133 MICROGRID MARKET: COMPANY OFFERING FOOTPRINT 259
14.7.5.3 End user footprint 260
TABLE 134 MICROGRID MARKET: COMPANY END USER FOOTPRINT 260
14.7.5.4 Connectivity footprint 261
TABLE 135 MICROGRID MARKET: COMPANY CONNECTIVITY FOOTPRINT 261
14.7.5.5 Power rating footprint 262
TABLE 136 MICROGRID MARKET: COMPANY POWER RATING FOOTPRINT 262
14.7.5.6 Region footprint 263
TABLE 137 MICROGRID MARKET: COMPANY REGION FOOTPRINT 263
14.8 COMPANY EVALUATION MATRIX: START-UPS/SMES, 2023 264
14.8.1 PROGRESSIVE COMPANIES 264
14.8.2 RESPONSIVE COMPANIES 264
14.8.3 DYNAMIC COMPANIES 264
14.8.4 STARTING BLOCKS 264
FIGURE 93 MICROGRID MARKET: COMPANY EVALUATION MATRIX: START-UPS/SMES, 2023 265
14.8.5 COMPETITIVE BENCHMARKING: START-UPS/SMES, 2023 266
14.8.5.1 List of key start-ups/SMEs 266
TABLE 138 MICROGRID MARKET: LIST OF KEY START-UPS/SMES 266
14.8.5.2 Competitive benchmarking of key start-ups/SMEs 267
TABLE 139 MICROGRID MARKET: COMPETITIVE BENCHMARKING OF KEY START-UPS/SMES 267
14.8.6 COMPANY FOOTPRINT: START-UPS/SMES, 2023 268
14.8.6.1 Overall footprint 268
FIGURE 94 MICROGRID MARKET: START-UP/SME OVERALL FOOTPRINT 268
14.8.6.2 Offering footprint 268
TABLE 140 MICROGRID MARKET: START-UP/SME OFFERING FOOTPRINT 268
14.8.6.3 Connectivity footprint 269
TABLE 141 MICROGRID MARKET: START-UP/SME CONNECTIVITY FOOTPRINT 269
14.8.6.4 Power rating footprint 269
TABLE 142 MICROGRID MARKET: START-UP/SME POWER RATING FOOTPRINT 269
14.8.6.5 End user footprint 270
TABLE 143 MICROGRID MARKET: START-UP/SME END USER FOOTPRINT 270
14.8.6.6 Region footprint 270
TABLE 144 MICROGRID MARKET: START-UP/SME REGION FOOTPRINT 270
14.9 COMPETITIVE SCENARIOS AND TRENDS 271
14.9.1 PRODUCT LAUNCHES/DEVELOPMENTS 271
TABLE 145 MICROGRID MARKET: PRODUCT LAUNCHES/DEVELOPMENTS, JULY 2020–NOVEMBER 2023 271
14.9.2 DEALS 274
TABLE 146 MICROGRID MARKET: DEALS, FEBRUARY 2020–APRIL 2023 274
14.9.3 OTHERS 276
TABLE 147 MICROGRID MARKET: OTHERS, APRIL 2021–JULY 2023 276
15 COMPANY PROFILES 278
(Business Overview, Products/Solutions/Services Offered, Recent Developments, and MnM View (Key strengths/Right to Win, Strategic Choices Made, and Weaknesses and Competitive Threats))*
15.1.1 SCHNEIDER ELECTRIC 278
TABLE 148 SCHNEIDER ELECTRIC: COMPANY OVERVIEW 279
FIGURE 95 SCHNEIDER ELECTRIC: COMPANY SNAPSHOT 279
TABLE 149 SCHNEIDER ELECTRIC: PRODUCTS/SOLUTIONS/SERVICES OFFERED 280
TABLE 150 SCHNEIDER ELECTRIC: PRODUCT LAUNCHES/DEVELOPMENTS 285
TABLE 151 SCHNEIDER ELECTRIC: DEALS 287
TABLE 152 SCHNEIDER ELECTRIC: OTHERS 289
TABLE 153 SCHNEIDER ELECTRIC: EXPANSIONS 290
15.1.2 SIEMENS 292
TABLE 154 SIEMENS: COMPANY OVERVIEW 293
FIGURE 96 SIEMENS: COMPANY SNAPSHOT 293
TABLE 155 SIEMENS: PRODUCTS/SOLUTIONS/SERVICES OFFERED 294
TABLE 156 SIEMENS: PRODUCT LAUNCHES/DEVELOPMENTS 295
TABLE 157 SIEMENS: DEALS 297
TABLE 158 SIEMENS: OTHERS 301
15.1.3 GENERAL ELECTRIC 304
TABLE 159 GENERAL ELECTRIC: COMPANY OVERVIEW 305
FIGURE 97 GENERAL ELECTRIC: COMPANY SNAPSHOT 305
TABLE 160 GENERAL ELECTRIC: PRODUCTS/SOLUTIONS/SERVICES OFFERED 306
TABLE 161 GENERAL ELECTRIC: PRODUCT LAUNCHES/DEVELOPMENTS 308
TABLE 162 GENERAL ELECTRIC: DEALS 309
TABLE 163 GENERAL ELECTRIC: OTHERS 311
15.1.4 EATON 314
TABLE 164 EATON: COMPANY OVERVIEW 314
FIGURE 98 EATON: COMPANY SNAPSHOT 315
TABLE 165 EATON: PRODUCTS/SOLUTIONS/SERVICES OFFERED 316
TABLE 166 EATON: PRODUCT LAUNCHES/DEVELOPMENTS 319
TABLE 167 EATON: DEALS 319
TABLE 168 EATON: OTHERS 323
TABLE 169 EATON: EXPANSIONS 324
15.1.5 ABB 326
TABLE 170 ABB: COMPANY OVERVIEW 327
FIGURE 99 ABB: COMPANY SNAPSHOT 327
TABLE 171 ABB: PRODUCTS/SOLUTIONS/SERVICES OFFERED 328
TABLE 172 ABB: DEALS 332
TABLE 173 ABB: OTHERS 334
15.1.6 HITACHI ENERGY LTD. 336
TABLE 174 HITACHI ENERGY LTD.: COMPANY OVERVIEW 336
TABLE 175 HITACHI ENERGY LTD.: PRODUCTS/SOLUTIONS/SERVICES OFFERED 337
TABLE 176 HITACHI ENERGY LTD.: PRODUCT LAUNCHES/DEVELOPMENTS 339
TABLE 177 HITACHI ENERGY LTD.: DEALS 340
TABLE 178 HITACHI ENERGY LTD.: OTHERS 342
15.1.7 HONEYWELL INTERNATIONAL INC. 344
TABLE 179 HONEYWELL INTERNATIONAL INC.: COMPANY OVERVIEW 344
FIGURE 100 HONEYWELL INTERNATIONAL INC.: COMPANY SNAPSHOT 345
TABLE 180 HONEYWELL INTERNATIONAL INC.: PRODUCTS/SOLUTIONS/SERVICES OFFERED 346
TABLE 181 HONEYWELL INTERNATIONAL INC.: PRODUCT LAUNCHES/DEVELOPMENTS 347
TABLE 182 HONEYWELL INTERNATIONAL INC.: DEALS 347
15.1.8 HOMER ENERGY 349
TABLE 183 HOMER ENERGY: COMPANY OVERVIEW 349
TABLE 184 HOMER ENERGY: PRODUCTS/SOLUTIONS/SERVICES OFFERED 350
TABLE 185 HOMER ENERGY: PRODUCT LAUNCHES/DEVELOPMENTS 352
TABLE 186 HOMER ENERGY: DEALS 353
TABLE 187 HOMER ENERGY: OTHERS 354
15.1.9 S&C ELECTRIC COMPANY 355
TABLE 188 S&C ELECTRIC COMPANY: COMPANY OVERVIEW 355
TABLE 189 S&C ELECTRIC COMPANY: PRODUCTS/SOLUTIONS/SERVICES OFFERED 356
TABLE 190 S&C ELECTRIC COMPANY: PRODUCT LAUNCHES/DEVELOPMENTS 357
TABLE 191 S&C ELECTRIC COMPANY: EXPANSIONS 358
15.1.10 POWER ANALYTICS GLOBAL CORPORATION 359
TABLE 192 POWER ANALYTICS GLOBAL CORPORATION: COMPANY OVERVIEW 359
TABLE 193 POWER ANALYTICS GLOBAL CORPORATION: PRODUCTS/SOLUTIONS/SERVICES OFFERED 360
TABLE 194 POWER ANALYTICS GLOBAL CORPORATION: PRODUCT LAUNCHES/DEVELOPMENTS 361
TABLE 195 POWER ANALYTICS GLOBAL CORPORATION: DEALS 362
15.2 OTHER PLAYERS 363
15.2.1 CATERPILLAR 363
15.2.2 TESLA ENERGY 364
15.2.3 EMERSON ELECTRIC CO. 365
15.2.4 PARETO ENERGY 366
15.2.5 ANBARIC DEVELOPMENT PARTNERS, LLC. 367
15.2.6 EXELON CORPORATION 368
15.2.7 SPIRAE LLC 369
15.2.8 GENERAL MICROGRIDS 370
15.2.9 POLARIS INC. 371
15.2.10 HEILA TECHNOLOGIES 372
15.2.11 AMERESCO 373
15.2.12 GO ELECTRIC INC. 374
15.2.13 FERROAMP 375
15.2.14 CANOPY POWER 376
15.2.15 POWERSECURE, INC. 377
*Details on Business Overview, Products/Solutions/Services Offered, Recent Developments, and MnM View (Key strengths/Right to Win, Strategic Choices Made, and Weaknesses and Competitive Threats) might not be captured in case of unlisted companies.
16 APPENDIX 378
16.1 DISCUSSION GUIDE 378
16.2 KNOWLEDGESTORE: MARKETSANDMARKETS’ SUBSCRIPTION PORTAL 381
16.3 CUSTOMIZATION OPTIONS 383
16.4 RELATED REPORTS 383
16.5 AUTHOR DETAILS 384