Global Microgrid Market Report 2021-2026

0

Dublin, October 7, 2021 (GLOBE NEWSWIRE) – The “Micro Grids – Global Market Trajectory and Analysis” report was added to ResearchAndMarkets.com offer.

Global microgrid market to reach $ 46.5 billion by 2026

The global micro-grid market, estimated at US $ 27 billion in 2020, is expected to reach a revised size of US $ 46.5 billion by 2026, growing at a CAGR of 9.3% over the course of the analysis period.

Grid Connected, one of the segments analyzed in the report, is expected to grow at a CAGR of 10.2% to reach $ 35.5 billion by the end of the analysis period. After a thorough analysis of the business implications of the pandemic and the induced economic crisis, the growth of the Off-Grid Connected segment is readjusted to a revised CAGR of 7.3% for the next 7-year period.

This segment currently represents a 33.2% share of the global microgrid market. As investments in renewables increase, demand for both grid-connected and off-grid segments is expected to experience strong demand.

With traditional utilities stretched to breaking point due to rapid population growth, urbanization and the demands of the digital age, microgrids are the future of power generation and distribution. intelligent and distributed energy. The increasing complexity of ICT infrastructures and the widespread deployment of high density IT infrastructures have reduced the tolerance of business processes and systems to power outages.

With the potential risk of power outages being computer system failure, loss of critical data, inability to provide customer service, and business loss, among others, the demand for sophisticated power distribution solutions will remain strong, so which will benefit the adoption of microgrids.

There is an increase in the establishment of micro-grids in areas rich in green energy sources such as photovoltaic (PV) and wind power. Independent microgrids are also gaining popularity because, unlike grid-connected systems, no complex government permits and cooperation with utilities are required.

The US market is estimated at $ 6.6 billion in 2021, while China is expected to reach $ 12.1 billion by 2026

The microgrid market in the United States is estimated at $ 6.6 billion in 2021. The country currently accounts for a 22.4% share of the global market. China, the world’s second-largest economy, is expected to reach an estimated market size of US $ 12.1 billion in 2026, with a CAGR of 10.7% during the analysis period.

Other noteworthy geographic markets include Japan and Canada, each forecasting growth of 7.1% and 7.9% respectively over the period of analysis. In Europe, Germany is expected to grow at a CAGR of around 7.8% while the rest of the European market (as defined in the study) will reach $ 13.2 billion by the end of the period. ‘to analyse. Frequent power cuts have become an unfortunate norm around the world.

While the phenomenon is more prevalent in developing economies, developed regions are no strangers to power outages, with the United States experiencing more outages than other developed countries. The rise in power of microgrids set up with the aim of ensuring the independence of the network and leveling out power inconsistencies will therefore stimulate demand for microgrids.

Renewable microgrids are particularly important for developing countries like India with large geographic land areas and poor electrification in rural areas. Solar microgrids are particularly on the increase in developing countries where a large part of the population does not have access to an electricity grid.

Main topics covered:

I. METHODOLOGY

II. ABSTRACT

1. MARKET OVERVIEW

  • Growing investments in energy infrastructure: the cornerstone of market growth

  • How is the energy industry affected by the pandemic and what is the new normal?

  • Beyond the current challenges, the pandemic will fuel our energy transition

  • Microgrid: definition, scope, importance and advantages

  • The race between the virus and vaccines is intensifying. In the midst of this chaotic battle, where is the global economy heading in 2021?

  • These are times when questions abound and answers are scarce

  • So how fast or slowly are we moving?

  • As India burns amid deadly second wave driven by double and triple mutation, it is clear that fairness is not part of global COVID policy

  • Progress on vaccinations, why should companies care?

  • With IMF’s Upward Revision of Global GDP Forecast for 2021, Most Companies Are Optimistic on Global Economic Return

  • A look back at 2020 as the worst year in human history that left the world in shambles and industries and markets in turmoil

2. FOCUS ON CERTAIN PLAYERS(Total 55 featured)

  • ABB SA

  • SMA

  • caterpillar

  • Eaton Corporation inc.

  • GE Network Solutions

  • General microgrids

  • Heila Technologies

  • Hitachi ABB power grids

  • HOMER Energy LLC

  • Honeywell International Inc.

  • Lockheed Martin Company

  • Power analysis company

  • S&C Electricity Company

  • Schneider Electric SE

  • Siemens AG

  • Spirae, LLC

  • Tesla, Inc.

  • Toshiba Company

3. MARKET TRENDS AND FACTORS

  • Rising power outages and the unwanted impact of power outages on modern digitized businesses hope microgrids will end power outages

  • Bad weather conditions accelerate the risk of power outages

  • Emphasis on decentralized energy production stimulates the deployment of micro-grids

  • Distributed generation and micro-grids. Here’s what you need to know

  • Rise of smart cities emphasizes microgrid engineering to meet planned energy targets

  • Private Sector Microgrids Rise Above the Horizon to Offer Exciting Growth Opportunities

  • The increase in investments in renewable energies leads to a rapid proliferation of renewable micro-grids in the global energy field

  • Cloud-based microgrid management arouses interest in community microgrids

  • Supported by Myriad Benefits Automated Microgrid Control Systems Gain in Popularity

  • IoT revolutionizes the management of micro-grids

  • Innovations in microgrid control systems drive popularity and operational feasibility of microgrids

  • Hardware-in-the-Loop (HIL): a key innovation in the micro-grid control system

  • The rise of Blockchain microgrids, a major trend to note

  • AI and micro-networks. Here is what is happening

  • Robust outlook for electric vehicles creates parallel increase in microgrids for fleet electrification

  • Role of micro-grids in the electrification of the fleet

  • Growing attention to disaster preparedness reinforces the importance of microgrids

  • Can COVID-19 provide a launching pad for the rise of home / residential micro-grids?

  • COVID-19-induced transition to work from home and online education emphasizes reliability of electricity

  • The time has come for the hybrid micro-grid. here’s why

  • Microgrids crucial for a low carbon future

  • COVID-19 accelerates decarbonization efforts

  • Towards a low carbon future with microgrids

4. WORLD MARKET PERSPECTIVE

III. REGIONAL MARKET ANALYSIS

IV. COMPETETION

For more information on this report, visit https://www.researchandmarkets.com/r/m3kci0

CONTACT: CONTACT: ResearchAndMarkets.com Laura Wood, Senior Press Manager [email protected] For E.S.T Office Hours Call 1-917-300-0470 For U.S./CAN Toll Free Call 1-800-526-8630 For GMT Office Hours Call +353-1-416-8900


Source link

Leave A Reply

Your email address will not be published.