Asia-Pacific Microgrid Market, By Connectivity (Grid Connected and Off-Grid Connected), Grid Type (AC Microgrid, DC Microgrid and Hybrid), Pattern (Urban/Metropolitan, Semi Urban, Rural/Island), Offering (Hardware, Software & Services), Source (Diesel Generators, Natural Gas, Solar PV, CHP and Others), Storage (Lithium-Ion, Lead Acid, Flow Batteries, Flywheel and Others), Application (Healthcare, Educational Institutes, Government, Military, Utility, Industrial/Commercial, Remote and Others), Country (Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific) Industry Trends and Forecast to 2027
Microgrid market is expected to reach USD 32.28 billion by 2027 witnessing market growth at a rate of 43.0% in the forecast period of 2020 to 2027. Data Bridge Market Research report on microgrid market provides analysis and insights regarding the various factors expected to be prevalent throughout the forecasted period while providing their impacts on the market’s growth.
Microgrid is a local energy grid with control capacity which can operate autonomously without connection itself to the traditional grid. Since it is a smaller version of larger electrical grids with self-sufficient energy system, it is generally used for smaller geographic areas such as schools, colleges or a local community. They contain one or more distributed energy as solar, wind or combined heat & power. These microgrids are extremely useful in case of power outage or during storms.
Rising demand for clean energy, growing electricity demand, technological advancements to ensure uninterrupted power supply and low transmission losses are the main drivers for the growth of microgrid market. High initial cost of installation, high maintenance costs and complexity in land acquisitions are acting as restraints for microgrid market.
Expansion of renewable energy capacity and government initiatives for development of microgrids are the opportunities for the growth of the microgrid market. Technical issues faced during the operation of microgrids and lack of regulatory frameworks act as the challenges faced by microgrid market.
This microgrid market report provides details of new recent developments, trade regulations, import export analysis, production analysis, value chain optimization, market share, impact of domestic and localised market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on microgrid market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.
Microgrid Market Scope and Market Size
The microgrid market is segmented on the basis of connectivity, grid type, pattern, source, storage, offering and application. The growth among segments helps you analyse niche pockets of growth and strategies to approach the market and determine your core application areas and the difference in your target markets.
- On the basis of connectivity, the microgrid market has been segmented as grid connected and off-grid connected.
- Based on grid type, microgrid market has been segmented into AC microgrid, DC microgrid and hybrid.
- On the basis of source, the microgrid market has been segmented into diesel generators, natural gas, solar PV, CHP and others.
- On the basis of storage, the microgrid market has been segmented into lithium-ion, lead acid, flow batteries, flywheel and others.
- The microgrid market has also been segmented on the basis of end user into healthcare, educational institutes, military, utility, industrial/commercial, government, remote and others.
- On the basis of pattern, the microgrid market has been segmented into urban/metropolitan, semi urban and rural/island.
- On the basis of offering, the microgrid market has been segmented into hardware and software & services. Hardware is further segmented into power generators, energy storage systems and controllers.
Asia-Pacific Microgrid Market Country Level Analysis
Asia-Pacific microgrid market is analysed and market size, volume information is provided by country, connectivity, grid type, pattern, source, storage, offering and application as referenced above.
The countries covered in the Asia- Pacific microgrid market report are Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines and rest of Asia-Pacific.
Japan, China and India will dominate the growth in the Asia-Pacific microgrid market owing to the industrial development and supporting government initiatives as China’s thirty five-year plan for electricity development, national solar mission of india and many more.
The country section of the report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points like down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of Asia-Pacific brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.
Competitive Landscape and Microgrid Market Share Analysis
Microgrid market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, Asia-Pacific presence, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies’ focus related to microgrid market.
The major players covered in the Asia-Pacific microgrid market report are Eaton Corporation, Siemens Ag, GE Alstom, Schneider Electric SE, ABB, Caterpillar Inc, Homer Energy LLC, EnSync Energy Systems, Lockheed Martin Corporation, Hitachi, Ltd., Honeywell International, Exelon Corporation, TOSHIBA CORPORATION, Advanced Microgrid Solutions, Viridity Energy, Inc and Tesla among other domestic players. Market share data is available for Asia-Pacific (APAC) separately. DBMR analysts understand competitive strengths and provide competitive analysis for each competitor separately.
In June 2020, Singapore-based energy company Canopy Power is reportedly partnering with EDF on the development of renewable energy microgrids in Asia.
Customization Available : Asia-Pacific Microgrid Market
Data Bridge Market Research is a leader in consulting and advanced formative research. We take pride in servicing our existing and new customers with data and analysis that match and suits their goal. The report can be customised to include production cost analysis, trade route analysis, price trend analysis of target brands understanding the market for additional countries (ask for the list of countries), import export and grey area results data, literature review, consumer analysis and product base analysis. Market analysis of target competitors can be analysed from technology-based analysis to market portfolio strategies. We can add as many competitors that you require data about in the format and data style you are looking for. Our team of analysts can also provide you data in crude raw excel files pivot tables (Factbook) or can assist you in creating presentations from the data sets available in the report.