Report

1 INTRODUCTION 23
1.1 STUDY OBJECTIVES 23
1.2 DEFINITION AND SCOPE 23
1.2.1 INCLUSIONS AND EXCLUSIONS: OFFERING SEGMENT 24
1.2.2 INCLUSIONS AND EXCLUSIONS: OTHER SEGMENTS 24
1.3 STUDY SCOPE 25
1.3.1 MARKETS COVERED 25
FIGURE 1 MARKET SEGMENTATION 25
1.3.2 REGIONAL SCOPE 25
1.3.3 YEARS CONSIDERED 26
1.4 CURRENCY 26
1.5 UNIT CONSIDERED 26
1.6 LIMITATIONS 26
1.7 STAKEHOLDERS 26
1.8 SUMMARY OF CHANGES 27
2 RESEARCH METHODOLOGY 28
2.1 RESEARCH DATA 28
FIGURE 2 MICROGRID MARKET: RESEARCH DESIGN 28
2.1.1 SECONDARY DATA 29
2.1.1.1 Major secondary sources 29
2.1.1.2 Key data from secondary sources 30
2.1.2 PRIMARY DATA 30
2.1.2.1 Primary interviews with experts 30
2.1.2.2 List of key primary interview participants 31
2.1.2.3 Breakdown of primaries 31
2.1.2.4 Key data from primary sources 32
2.1.3 SECONDARY AND PRIMARY RESEARCH 33
2.1.3.1 Key industry insights 33
2.2 MARKET SIZE ESTIMATION 34
2.2.1 BOTTOM-UP APPROACH 34
2.2.1.1 Approach used to arrive at market size using bottom-up analysis 34
FIGURE 3 MARKET SIZE ESTIMATION METHODOLOGY: BOTTOM-UP APPROACH 34
2.2.1.2 Approach for obtaining company-specific information in microgrid value chain 35
2.2.2 TOP-DOWN APPROACH 35
2.2.2.1 Approach used to arrive at market size using top-down analysis 35
FIGURE 4 MARKET SIZE ESTIMATION METHODOLOGY: TOP-DOWN APPROACH 35
2.3 FACTOR ANALYSIS 36
2.3.1 MICROGRID MARKET: SUPPLY-SIDE ANALYSIS 36
FIGURE 5 MARKET SIZE ESTIMATION METHODOLOGY: (SUPPLY SIDE):
REVENUE GENERATED FROM SALES OF MICROGRIDS 36
FIGURE 6 MARKET SIZE ESTIMATION METHODOLOGY: (SUPPLY SIDE):
REVENUE FROM MICROGRID HARDWARE, SOFTWARE, AND SERVICES 37
2.3.2 MICROGRID MARKET: DEMAND-SIDE ANALYSIS 38
FIGURE 7 MARKET SIZE ESTIMATION METHODOLOGY: (DEMAND SIDE): BOTTOM-UP APPROACH FOR ESTIMATION OF SIZE OF MICROGRID MARKET BASED ON REGION 38
FIGURE 8 MARKET SIZE ESTIMATION METHODOLOGY: DEMAND-SIDE ANALYSIS (COUNTRY LEVEL) 39
2.3.3 GROWTH FORECAST ASSUMPTIONS 40
TABLE 1 MICROGRID MARKET: KEY FORECASTING ASSUMPTIONS 40
2.4 DATA TRIANGULATION 41
FIGURE 9 DATA TRIANGULATION METHODOLOGY 41
2.5 ASSUMPTIONS 42
TABLE 2 KEY ASSUMPTIONS: MACRO- AND MICRO-ECONOMIC ENVIRONMENT 42
2.6 RISK ASSESSMENT 43
TABLE 3 RISK ASSESSMENT: MICROGRID MARKET 43
3 EXECUTIVE SUMMARY 44
3.1 REALISTIC SCENARIO (POST-COVID-19) 44
3.2 OPTIMISTIC SCENARIO (POST-COVID-19) 45
3.3 PESSIMISTIC SCENARIO (POST-COVID-19) 45
FIGURE 10 MICROGRID MARKET: OPTIMISTIC, REALISTIC, AND PESSIMISTIC SCENARIO ANALYSIS, 2018-2027 (USD BILLION) 45
FIGURE 11 MICROGRID MARKET FOR GRID-CONNECTED SEGMENT TO RECORD HIGHER GROWTH RATE DURING FORECAST PERIOD 46
FIGURE 12 HARDWARE SEGMENT TO ACCOUNT FOR LARGEST MARKET SHARE OF MICROGRID MARKET DURING FORECASTING PERIOD 46
FIGURE 13 CONTROLLERS TO RECORD HIGHEST CAGR IN MICROGRID HARDWARE MARKET FROM 2022 TO 2027 47
FIGURE 14 MICROGRID MARKET FOR COMMERCIAL & INDUSTRIAL END USER TO HOLD LARGEST SHARE IN 2027 48
FIGURE 15 MICROGRIDS WITH POWER RATINGS BETWEEN 1 MW TO 5 MW HOLD LARGEST MARKET SHARE 48
FIGURE 16 MICROGRID MARKET IN ASIA PACIFIC TO RECORD HIGHEST CAGR DURING FORECAST PERIOD 49
4 PREMIUM INSIGHTS 50
4.1 ATTRACTIVE GROWTH OPPORTUNITIES IN MICROGRID MARKET 50
FIGURE 17 INCREASING DEMAND FOR UNINTERRUPTED AND RELIABLE POWER SUPPLY DRIVING MICROGRID MARKET 50
4.2 MICROGRID MARKET, BY OFFERING 50
FIGURE 18 HARDWARE TO HOLD LARGEST SHARE OF MICROGRID MARKET IN 2022 AND 2027 50
4.3 MICROGRID MARKET, BY HARDWARE TYPE 51
FIGURE 19 POWER GENERATORS TO ACCOUNT FOR LARGEST SIZE OF MICROGRID HARDWARE MARKET FROM 2022 TO 2027 51
4.4 MICROGRID MARKET, BY CONNECTIVITY 51
FIGURE 20 GRID-CONNECTED MICROGRIDS TO ACCOUNT FOR LARGER SHARE OF MARKET FROM 2022 TO 2027 51
4.5 MICROGRID MARKET, BY POWER RATING 52
FIGURE 21 MICROGRIDS WITH POWER RATINGS FROM 1 MW TO 5 MW ARE LIKELY TO ACCOUNT FOR LARGEST MARKET SIZE FROM 2022 TO 2027 52
4.6 MICROGRID MARKET, BY END USER 52
FIGURE 22 COMMERCIAL & INDUSTRIAL TO ACCOUNT FOR LARGEST SIZE OF MICROGRID MARKET FROM 2022 TO 2027 52
5 MARKET OVERVIEW 53
5.1 INTRODUCTION 53
5.2 MARKET DYNAMICS 53
FIGURE 23 MICROGRID MARKET: DRIVERS, RESTRAINTS, OPPORTUNITIES,
AND CHALLENGES 53
5.2.1 DRIVERS 54
5.2.1.1 Increasing emphasis on decarbonization by end users and governments 54
FIGURE 24 GLOBAL SOLAR PV AND WIND INSTALLATIONS, 2018-2027 IN GIGAWATTS (GW) 55
FIGURE 25 GLOBAL INVESTMENTS IN CLEAN ENERGY AND ENERGY EFFICIENCY, 2018-2021 55
5.2.1.2 Growing need for reliable, uninterrupted power supply 55
5.2.1.3 Surging use of microgrids for rural electrification 56
5.2.1.4 Rising instances of cyberattacks on energy infrastructure 56
FIGURE 26 DRIVERS AND THEIR IMPACT ON MICROGRID MARKET 57
5.2.2 RESTRAINTS 57
5.2.2.1 Huge installation and maintenance costs of microgrids 57
FIGURE 27 RESTRAINTS AND THEIR IMPACT ON MICROGRID MARKET 58
5.2.3 OPPORTUNITIES 58
5.2.3.1 Increasing number of microgrid projects across different industries 58
5.2.3.2 Surging energy demand and adoption of renewable energy in Asia Pacific 59
5.2.3.3 Growing interest of investors in EaaS business model to minimize costs 59
TABLE 4 BUSINESS MODEL OF COMPANIES IN MICROGRID ECOSYSTEM 60
5.2.3.4 Rising encouragement from governments for developing microgrid projects 60
FIGURE 28 OPPORTUNITIES AND THEIR IMPACT ON MICROGRID MARKET 61
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5.2.4 CHALLENGES 61
5.2.4.1 Lack of standardization and regulatory frameworks related to microgrid operations 61
5.2.4.2 Technical challenges of microgrids operating in island mode 61
FIGURE 29 CHALLENGES AND THEIR IMPACT ON MICROGRID MARKET 62
5.3 VALUE CHAIN ANALYSIS 62
FIGURE 30 MICROGRID MARKET: VALUE CHAIN ANALYSIS 62
5.4 MICROGRID MARKET ECOSYSTEM 63
TABLE 5 MICROGRID MARKET: ECOSYSTEM 64
FIGURE 31 KEY PLAYERS IN MICROGRID MARKET ECOSYSTEM 65
5.5 PRICING ANALYSIS 66
FIGURE 32 AVERAGE MICROGRID COST, BY END USER AND PROJECT SIZE 66
TABLE 6 AVERAGE COST OF MICROGRID PROJECTS FOR TOP 3 APPLICATIONS (USD MILLION/MW) 66
5.5.1 ANALYSIS AND TREND OF AVERAGE MICROGRID COST 67
FIGURE 33 MICROGRID MARKET: AVERAGE COST OF MICROGRID PROJECTS 67
5.6 TRENDS/DISRUPTIONS IMPACTING CUSTOMER'S BUSINESS 67
FIGURE 34 REVENUE SHIFT FOR MICROGRID MARKET 67
5.7 KEY TECHNOLOGY TRENDS 68
5.7.1 BLOCKCHAIN-BASED MICROGRIDS/BLOCKCHAIN MICROGRIDS 68
5.7.2 SMART MICROGRIDS 68
5.7.3 ADVENT OF AI-BASED MICROGRIDS 68
5.8 PORTER'S FIVE FORCES ANALYSIS 69
FIGURE 35 MICROGRID MARKET: PORTER'S FIVE FORCES ANALYSIS 69
FIGURE 36 IMPACT OF PORTER'S FIVE FORCES ON MICROGRID MARKET 69
TABLE 7 IMPACT OF PORTER'S 5 FORCES ON MICROGRID MARKET 70
5.8.1 THREAT OF NEW ENTRANTS 70
5.8.2 THREAT OF SUBSTITUTES 70
5.8.3 BARGAINING POWER OF SUPPLIERS 70
5.8.4 BARGAINING POWER OF BUYERS 71
5.8.5 INTENSITY OF COMPETITIVE RIVALRY 71
5.9 KEY STAKEHOLDERS & BUYING CRITERIA 71
5.9.1 KEY STAKEHOLDERS IN BUYING PROCESS 71
FIGURE 37 INFLUENCE OF STAKEHOLDERS IN BUYING PROCESS FOR TOP 3 END USERS 71
TABLE 8 INFLUENCE OF STAKEHOLDERS IN BUYING PROCESS FOR
TOP 3 END USERS (%) 72
5.9.2 BUYING CRITERIA 72
FIGURE 38 KEY BUYING CRITERIA FOR TOP 3 END USERS 72
TABLE 9 KEY BUYING CRITERIA FOR TOP 3 END USERS 72
5.10 CASE STUDIES: MICROGRID MARKET 73
5.10.1 GE PROVIDED CAMPUS-BASED MICROGRID SYSTEM TO UNIVERSITY OF ONTARIO INSTITUTE OF TECHNOLOGY (CANADA) 73
TABLE 10 GE INSTALLED BATTERY ENERGY STORAGE SYSTEM FOR UNIVERSITY OF ONTARIO INSTITUTE OF TECHNOLOGY CAMPUS 73
5.10.2 GE PROVIDED SYSTEMS OFFERING RESILIENT, RELIABLE POWER FOR NAVY SHIPYARD PROJECT IN PHILADELPHIA (US) 73
TABLE 11 GE: MICROGRID ENERGY MANAGEMENT SYSTEM FOR NAVY SHIPYARD PROJECT IN PHILADELPHIA 73
5.10.3 SOLAR ONE ENERGY USED HOMER GRID TO MODEL ENERGY COSTS FOR ACE NATURAL 74
TABLE 12 HOMER ENERGY PROVIDED HOMER GRID SOFTWARE FOR SOLAR ONE ENERGY 74
5.10.4 S&C ELECTRIC SUPPLIED SERVICES FOR HALF MOON VENTURES' PROJECT 74
TABLE 13 S&C ELECTRIC COMPANY PROVIDED ENERGY STORAGE FOR MICROGRID PROJECT BY HALF MOON VENTURES IN WESTERN OHIO, US 74
5.10.5 ERGON ENERGY PARTNERED WITH S&C ELECTRIC COMPANY 75
TABLE 14 S&C ELECTRIC PROVIDED ENERGY STORAGE SYSTEMS FOR MICROGRIDS OF ERGON ENERGY 75
5.11 TRADE ANALYSIS 76
TABLE 15 IMPORT DATA FOR ELECTRIC MOTORS AND GENERATORS (EXCLUDING GENERATING SETS), HS CODE: 8501 (USD MILLION) 76
FIGURE 39 ELECTRIC MOTORS AND GENERATORS (EXCLUDING GENERATING SETS), IMPORT VALUES FOR MAJOR COUNTRIES, 2017-2021 76
TABLE 16 EXPORT DATA FOR ELECTRIC MOTORS AND GENERATORS (EXCLUDING GENERATING SETS), HS CODE: 8501 (USD MILLION) 77
FIGURE 40 ELECTRIC MOTORS AND GENERATORS (EXCLUDING GENERATING SETS), EXPORT VALUES FOR MAJOR COUNTRIES, 2017-2021 77
TABLE 17 IMPORT DATA FOR ELECTRONIC-INTEGRATED CIRCUITS AS PROCESSORS AND CONTROLLERS, HS CODE: 854231 (USD MILLION) 78
FIGURE 41 ELECTRONIC-INTEGRATED CIRCUITS AS PROCESSORS AND CONTROLLERS, IMPORT VALUES FOR MAJOR COUNTRIES, 2017-2021 78
TABLE 18 EXPORT DATA FOR ELECTRONIC-INTEGRATED CIRCUITS AS PROCESSORS AND CONTROLLERS, HS CODE: 854231 (USD MILLION) 79
FIGURE 42 ELECTRONIC-INTEGRATED CIRCUITS AS PROCESSORS AND CONTROLLERS, EXPORT VALUES FOR MAJOR COUNTRIES, 2017-2021 79
5.12 PATENT ANALYSIS 80
FIGURE 43 NUMBER OF PATENTS GRANTED IN MICROGRID MARKET, 2011-2021 80
FIGURE 44 REGIONAL ANALYSIS OF PATENTS GRANTED FOR MICROGRIDS, 2011-2021 81
TABLE 19 LIST OF KEY PATENTS IN MICROGRID MARKET, 2020-2022 81
5.13 KEY CONFERENCES AND EVENTS IN 2022-2024 83
TABLE 20 MICROGRID MARKET: DETAILED LIST OF CONFERENCES AND EVENTS 83
5.14 TARIFFS AND REGULATORY LANDSCAPE 87
5.14.1 REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS 87
TABLE 21 LIST OF REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS 87
5.14.2 CODES AND STANDARDS RELATED TO MICROGRIDS 89
TABLE 22 CODES AND STANDARDS RELATED TO MICROGRIDS 89
6 MICROGRID MARKET, BY CONNECTIVITY 90
6.1 INTRODUCTION 91
FIGURE 45 MICROGRID MARKET, BY CONNECTIVITY 91
TABLE 23 MICROGRID MARKET, BY CONNECTIVITY, 2018-2021 (USD BILLION) 91
FIGURE 46 GRID-CONNECTED MICROGRIDS TO RECORD HIGHER GROWTH RATE DURING FORECAST PERIOD 92
TABLE 24 MICROGRID MARKET, BY CONNECTIVITY, 2022-2027 (USD BILLION) 92
6.2 GRID-CONNECTED 93
6.2.1 GRID-CONNECTED MICROGRIDS ACCOUNTED FOR LARGER SHARE DUE TO EXPANSION OF UTILITY-BASED GRID NETWORKS AND USE OF RENEWABLE SOURCES 93
TABLE 25 GRID-CONNECTED MICROGRID MARKET, BY REGION,
2018-2021 (USD BILLION) 93
FIGURE 47 ASIA PACIFIC TO RECORD HIGHEST GROWTH RATE IN GRID-CONNECTED MICROGRID MARKET DURING FORECAST PERIOD 94
TABLE 26 GRID-CONNECTED MICROGRID MARKET, BY REGION,
2022-2027 (USD BILLION) 94
6.3 OFF-GRID 95
6.3.1 GROWING OFF-GRID SOLAR PROJECTS TO CREATE NEW MARKET OPPORTUNITIES IN COMING YEARS 95
TABLE 27 OFF-GRID MICROGRID MARKET, BY REGION, 2018-2021 (USD BILLION) 95
FIGURE 48 AMERICAS HOLDS LARGEST MARKET SIZE IN OFF-GRID MICROGRID MARKET IN 2022 96
TABLE 28 OFF-GRID MICROGRID MARKET, BY REGION, 2022-2027 (USD BILLION) 96
7 MICROGRID MARKET, BY OFFERING 97
7.1 INTRODUCTION 98
FIGURE 49 MICROGRID MARKET, BY OFFERING 98
TABLE 29 MICROGRID MARKET, BY OFFERING, 2018-2021 (USD BILLION) 98
FIGURE 50 SOFTWARE TO RECORD HIGHEST GROWTH RATE DURING FORECAST PERIOD 99
TABLE 30 MICROGRID MARKET, BY OFFERING, 2022-2027 (USD BILLION) 99
TABLE 31 MICROGRID HARDWARE MARKET, BY TYPE, 2018-2021 (USD BILLION) 99
TABLE 32 MICROGRID HARDWARE MARKET, BY TYPE, 2022-2027 (USD BILLION) 100
7.2 HARDWARE 100
FIGURE 51 MICROGRID HARDWARE MARKET, BY TYPE 100
TABLE 33 MICROGRID HARDWARE MARKET, BY REGION, 2018-2021 (USD BILLION) 101
FIGURE 52 MICROGRID HARDWARE MARKET IN ASIA PACIFIC TO RECORD HIGHEST GROWTH RATE DURING FORECAST PERIOD 101
TABLE 34 MICROGRID HARDWARE MARKET, BY REGION, 2022-2027 (USD BILLION) 101
7.2.1 POWER GENERATORS 102
7.2.1.1 Power generators to account for largest share of microgrid hardware market during forecast period 102
TABLE 35 MICROGRID HARDWARE MARKET FOR POWER GENERATORS, BY REGION, 2018-2021 (USD BILLION) 103
TABLE 36 MICROGRID HARDWARE MARKET FOR POWER GENERATORS, BY REGION, 2022-2027 (USD BILLION) 103
7.2.2 ENERGY STORAGE SYSTEMS 103
7.2.2.1 Growing need for energy storage systems to optimize power delivery 103
TABLE 37 MICROGRID HARDWARE MARKET FOR ENERGY STORAGE SYSTEMS,
BY REGION, 2018-2021 (USD BILLION) 104
TABLE 38 MICROGRID HARDWARE MARKET FOR ENERGY STORAGE SYSTEMS,
BY REGION, 2022-2027 (USD BILLION) 104
7.2.2.2 Lithium-ion batteries 104
7.2.2.3 Flow batteries 105
7.2.2.4 Flywheels 106
7.2.2.5 Others 106
7.2.3 CONTROLLERS 107
7.2.3.1 Controllers are required to monitor and optimally carry out different functions of microgrids 107
TABLE 39 MICROGRID HARDWARE MARKET FOR CONTROLLERS, BY REGION,
2018-2021 (USD BILLION) 108
TABLE 40 MICROGRID HARDWARE MARKET FOR CONTROLLERS, BY REGION,
2022-2027 (USD BILLION) 108
7.3 SOFTWARE 108
7.3.1 USE OF SOFTWARE IN MICROGRID PROJECTS HELPS SIMPLIFY TECHNICAL AND ECONOMIC FACTORS 108
TABLE 41 MICROGRID SOFTWARE MARKET, BY REGION, 2018-2021 (USD BILLION) 109
FIGURE 53 MICROGRID SOFTWARE MARKET IN AMERICAS TO ACCOUNT FOR LARGEST SHARE DURING FORECAST PERIOD 109
TABLE 42 MICROGRID SOFTWARE MARKET, BY REGION, 2022-2027 (USD BILLION) 110
7.4 SERVICES 110
7.4.1 RISING NUMBER OF MICROGRID INSTALLATIONS CREATES NEW OPPORTUNITIES FOR SERVICES 110
TABLE 43 MICROGRID MARKET FOR SERVICES, BY REGION,
2018-2021 (USD BILLION) 111
FIGURE 54 MICROGRID SERVICES MARKET IN ASIA PACIFIC TO RECORD HIGHEST GROWTH RATE DURING FORECAST PERIOD 111
TABLE 44 MICROGRID MARKET FOR SERVICES, BY REGION,
2022-2027 (USD BILLION) 112
8 MICROGRID MARKET, BY POWER SOURCE 113
8.1 INTRODUCTION 113
FIGURE 55 MICROGRID MARKET, BY POWER SOURCE 113
FIGURE 56 GLOBAL MICROGRID PROJECT DEPLOYMENT TREND, BY POWER SOURCE, 2021 VS. 2027 114
8.2 NATURAL GAS 114
8.3 SOLAR PV 115
8.4 COMBINED HEAT AND POWER 115
8.5 DIESEL 116
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8.6 FUEL CELL 116
8.7 OTHERS 117
9 MICROGRID MARKET, BY PATTERN 118
9.1 INTRODUCTION 118
9.2 URBAN/METROPOLITAN 118
9.2.1 INCREASING DEVELOPMENT OF MICROGRIDS IN URBAN AREAS BOOSTING MARKET GROWTH 118
FIGURE 57 DRIVERS OF MICROGRID MARKET IN URBAN/METROPOLITAN AREAS 119
9.3 SEMIURBAN 119
9.3.1 GROWING INITIATIVES TO DEVELOP MICROGRIDS FOR SEMIURBAN AREAS IN VARIOUS COUNTRIES DRIVING MARKET 119
9.4 RURAL/ISLAND 120
9.4.1 RISING NUMBER OF ELECTRIFICATION PROJECTS LEADING TO GROWTH OF MICROGRID MARKET 120
10 MICROGRID MARKET, BY TYPE 121
10.1 INTRODUCTION 121
FIGURE 58 MICROGRID MARKET, BY TYPE 121
10.2 AC MICROGRIDS 122
10.2.1 ELIMINATE INVERTER REQUIREMENT FOR POWER SUPPLY TO AC LOADS 122
10.3 DC MICROGRIDS 122
10.3.1 OFFER HIGHER EFFICIENCY, RELIABILITY, AND STABILITY 122
10.4 HYBRID MICROGRIDS 123
10.4.1 USE OF DIFFERENT ENERGY SOURCES FOR POWER GENERATION REDUCES DEPENDENCE ON FOSSIL FUEL 123
11 MICROGRID MARKET, BY POWER RATING 124
11.1 INTRODUCTION 125
FIGURE 59 1 MW TO 5 MW MICROGRID POWER RATING TO HOLD LARGEST MARKET SHARE DURING FORECAST PERIOD 125
TABLE 45 MICROGRID MARKET, BY POWER RATING, 2018-2021 (USD BILLION) 125
TABLE 46 MICROGRID MARKET, BY POWER RATING, 2022-2027 (USD BILLION) 126
11.2 LESS THAN 1 MW 126
11.2.1 REMOTE AREAS, GOVERNMENTS, AND UTILITIES USE MICROGRIDS WITH POWER RATINGS OF LESS THAN 1 MW 126
11.3 1 MW TO 5 MW 126
11.3.1 GROWTH OF MARKET FOR MICROGRID SYSTEMS WITH POWER RATINGS BETWEEN 1 MW AND 5 MW FUELLED BY INCREASING DEPLOYMENT IN COMMERCIAL AND INDUSTRIAL SECTOR 126
11.4 5 MW TO 10 MW 127
11.4.1 MICROGRIDS WITH POWER RATINGS BETWEEN 5 MW TO 10 MW MEET HIGH-POWER REQUIREMENTS IN UNIVERSITIES, SMART CITIES, AND COMMERCIAL APPLICATIONS 127
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11.5 ABOVE 10 MW 127
11.5.1 SECTORS WITH HIGH POWER REQUIREMENTS UTILIZE MICROGRID SYSTEMS WITH POWER RATINGS ABOVE 10 MW 127
12 MICROGRID MARKET, BY END USER 128
12.1 INTRODUCTION 129
FIGURE 60 MICROGRID MARKET, BY END USER 129
TABLE 47 MICROGRID MARKET, BY END USER, 2018-2021 (USD BILLION) 130
FIGURE 61 COMMERCIAL & INDUSTRIAL SEGMENT TO RECORD HIGHEST GROWTH RATE DURING FORECAST PERIOD 130
TABLE 48 MICROGRID MARKET, BY END USER, 2022-2027 (USD BILLION) 131
12.2 COMMERCIAL & INDUSTRIAL 131
12.2.1 REQUIREMENT FOR UNINTERRUPTED ELECTRICITY SUPPLY IN COMMERCIAL AND INDUSTRIAL SECTOR TO DRIVE MARKET 131
TABLE 49 MICROGRID MARKET FOR COMMERCIAL & INDUSTRIAL END USER,
BY REGION, 2018-2021 (USD BILLION) 132
FIGURE 62 COMMERCIAL & INDUSTRIAL SECTOR IN ASIA PACIFIC TO RECORD HIGHEST GROWTH RATE DURING FORECAST PERIOD 132
TABLE 50 MICROGRID MARKET FOR COMMERCIAL & INDUSTRIAL, BY REGION,
2022-2027 (USD BILLION) 133
12.3 REMOTE AREAS 133
12.3.1 SURGE IN DEPLOYMENT OF MICROGRID PROJECTS IN REMOTE AREAS DUE TO UNAVAILABILITY OF MAIN UTILITY-GRID SYSTEMS FOR ENERGY DISTRIBUTION TO BOOST MARKET 133
TABLE 51 MICROGRID MARKET FOR REMOTE AREAS, BY REGION,
2018-2021 (USD BILLION) 134
FIGURE 63 REMOTE AREAS SEGMENT IN ASIA PACIFIC TO RECORD HIGHEST GROWTH RATE DURING FORECAST PERIOD 134
TABLE 52 MICROGRID MARKET FOR REMOTE AREAS, BY REGION,
2022-2027 (USD BILLION) 134
12.4 MILITARY 135
12.4.1 WIDE USE OF MICROGRIDS FOR ENERGY SECURITY AND RESILIENCY TO PROPEL MARKET GROWTH 135
TABLE 53 MICROGRID MARKET FOR MILITARY, BY REGION, 2018-2021 (USD BILLION) 135
FIGURE 64 MILITARY SEGMENT IN AMERICAS TO ACCOUNT FOR LARGEST SHARE
IN 2022 136
TABLE 54 MICROGRID MARKET FOR MILITARY, BY REGION, 2022-2027 (USD BILLION) 136
12.5 GOVERNMENT 137
12.5.1 DECLINE IN PRICES OF ELECTRICITY GENERATED FROM RENEWABLE ENERGY SOURCES LEADS TO RISING ADOPTION OF MICROGRIDS 137
TABLE 55 MICROGRID MARKET FOR GOVERNMENT, BY REGION,
2018-2021 (USD BILLION) 137
TABLE 56 MICROGRID MARKET FOR GOVERNMENT, BY REGION,
2022-2027 (USD BILLION) 137
12.6 UTILITIES 138
12.6.1 MICROGRIDS PROVIDE UTILITIES WITH LESS EXPENSIVE ALTERNATIVE 138
TABLE 57 MICROGRID MARKET FOR UTILITIES, BY REGION, 2018-2021 (USD BILLION) 138
FIGURE 65 UTILITIES SEGMENT IN AMERICAS TO RECORD HIGHEST GROWTH RATE DURING FORECAST PERIOD 139
TABLE 58 MICROGRID MARKET FOR UTILITIES, BY REGION, 2022-2027 (USD BILLION) 139
12.7 INSTITUTES & CAMPUSES 139
12.7.1 INCREASED ADOPTION OF MICROGRIDS TO ENSURE UNINTERRUPTED POWER SUPPLY 139
TABLE 59 MICROGRID MARKET FOR INSTITUTES & CAMPUSES, BY REGION,
2018-2021 (USD BILLION) 140
TABLE 60 MICROGRID MARKET FOR INSTITUTES & CAMPUSES, BY REGION,
2022-2027 (USD BILLION) 140
12.8 HEALTHCARE 141
12.8.1 HOSPITALS RAPIDLY TURNING TO MICROGRIDS TO COUNTER GRID INSTABILITY 141
TABLE 61 MICROGRID MARKET FOR HEALTHCARE, BY REGION,
2018-2021 (USD BILLION) 141
TABLE 62 MICROGRID MARKET FOR HEALTHCARE, BY REGION,
2022-2027 (USD BILLION) 142
13 MICROGRID MARKET, BY REGION 143
13.1 INTRODUCTION 144
FIGURE 66 SOUTH KOREA TO EXPERIENCE HIGHEST CAGR DURING FORECAST PERIOD 144
FIGURE 67 AMERICAS ACCOUNTS FOR LARGEST SHARE OF MICROGRID MARKET
IN 2022 145
TABLE 63 MICROGRID MARKET, BY REGION, 2018-2021 (USD BILLION) 145
TABLE 64 MICROGRID MARKET, BY REGION, 2022-2027 (USD BILLION) 145
TABLE 65 MICROGRID INSTALLED CAPACITY, BY REGION, 2018-2021 (MW) 146
TABLE 66 MICROGRID INSTALLED CAPACITY, BY REGION, 2022-2027 (MW) 146
13.2 AMERICAS 147
FIGURE 68 AMERICAS: MICROGRID MARKET SNAPSHOT 147
TABLE 67 AMERICAS: MICROGRID MARKET, BY REGION, 2018-2021 (USD BILLION) 148
TABLE 68 AMERICAS: MICROGRID MARKET, BY REGION, 2022-2027 (USD BILLION) 148
TABLE 69 AMERICAS: MICROGRID MARKET, BY CONNECTIVITY,
2018-2021 (USD BILLION) 148
TABLE 70 AMERICAS: MICROGRID MARKET, BY CONNECTIVITY,
2022-2027 (USD BILLION) 148
TABLE 71 AMERICAS: MICROGRID MARKET, BY OFFERING, 2018-2021 (USD BILLION) 149
TABLE 72 AMERICAS: MICROGRID MARKET, BY OFFERING, 2022-2027 (USD BILLION) 149
TABLE 73 AMERICAS: MICROGRID HARDWARE MARKET, BY TYPE,
2018-2021 (USD BILLION) 149
TABLE 74 AMERICAS: MICROGRID HARDWARE MARKET, BY TYPE,
2022-2027 (USD BILLION) 150
TABLE 75 AMERICAS: MICROGRID MARKET, BY END USER, 2018-2021 (USD BILLION) 150
TABLE 76 AMERICAS: MICROGRID MARKET, BY END USER, 2022-2027 (USD BILLION) 150
13.2.1 NORTH AMERICA 151
TABLE 77 NORTH AMERICA: MICROGRID MARKET, BY COUNTRY,
2018-2021 (USD BILLION) 151
TABLE 78 NORTH AMERICA: MICROGRID MARKET, BY COUNTRY,
2022-2027 (USD BILLION) 151
TABLE 79 NORTH AMERICA: MICROGRID MARKET, BY CONNECTIVITY,
2018-2021 (USD BILLION) 151
TABLE 80 NORTH AMERICA: MICROGRID MARKET, BY CONNECTIVITY,
2022-2027 (USD BILLION) 152
TABLE 81 NORTH AMERICA: MICROGRID MARKET, BY OFFERING,
2018-2021 (USD BILLION) 152
TABLE 82 NORTH AMERICA: MICROGRID MARKET, BY OFFERING,
2022-2027 (USD BILLION) 152
TABLE 83 NORTH AMERICA: MICROGRID HARDWARE MARKET, BY TYPE,
2018-2021 (USD BILLION) 152
TABLE 84 NORTH AMERICA: MICROGRID HARDWARE MARKET, BY TYPE,
2022-2027 (USD BILLION) 153
TABLE 85 NORTH AMERICA: MICROGRID MARKET, BY END USER,
2018-2021 (USD BILLION) 153
TABLE 86 NORTH AMERICA: MICROGRID MARKET, BY END USER,
2022-2027 (USD BILLION) 153
13.2.1.1 US 154
13.2.1.1.1 Growing use of renewable energy sources in microgrids and presence of key players to drive market in coming years 154
TABLE 87 MICROGRID PROJECTS IN US FROM 2018 TO 2020 155
13.2.1.2 Canada 156
13.2.1.2.1 Remote communities in Canada to create opportunities for microgrid developers 156
13.2.1.3 Mexico 156
13.2.1.3.1 Mexican market to record highest CAGR in North America during forecast period 156
13.2.2 SOUTH AMERICA 156
TABLE 88 SOUTH AMERICA: MICROGRID MARKET, BY COUNTRY,
2018-2021 (USD BILLION) 157
TABLE 89 SOUTH AMERICA: MICROGRID MARKET, BY COUNTRY,
2022-2027 (USD BILLION) 157
TABLE 90 SOUTH AMERICA: MICROGRID MARKET, BY CONNECTIVITY,
2018-2021 (USD BILLION) 157
TABLE 91 SOUTH AMERICA: MICROGRID MARKET, BY CONNECTIVITY,
2022-2027 (USD BILLION) 157
TABLE 92 SOUTH AMERICA: MICROGRID MARKET, BY OFFERING,
2018-2021 (USD BILLION) 158
TABLE 93 SOUTH AMERICA: MICROGRID MARKET, BY OFFERING,
2022-2027 (USD BILLION) 158
TABLE 94 SOUTH AMERICA: MICROGRID HARDWARE MARKET, BY TYPE,
2018-2021 (USD BILLION) 158
TABLE 95 SOUTH AMERICA: MICROGRID HARDWARE MARKET, BY TYPE,
2022-2027 (USD BILLION) 158
TABLE 96 SOUTH AMERICA: MICROGRID MARKET, BY END USER,
2018-2021 (USD BILLION) 159
TABLE 97 SOUTH AMERICA: MICROGRID MARKET, BY END USER,
2022-2027 (USD BILLION) 159
13.2.2.1 Brazil 160
13.2.2.1.1 Brazil held largest size of microgrid market in South America in 2021 160
13.2.2.2 Argentina 160
13.2.2.2.1 Focus on renewable energy sources and development of smart grids 160
13.2.2.3 Rest of South America 160
13.3 EUROPE 160
FIGURE 69 EUROPE: MICROGRID MARKET SNAPSHOT 161
TABLE 98 EUROPE: MICROGRID MARKET, BY COUNTRY, 2018-2021 (USD BILLION) 162
TABLE 99 EUROPE: MICROGRID MARKET, BY COUNTRY, 2022-2027 (USD BILLION) 162
TABLE 100 EUROPE: MICROGRID MARKET, BY CONNECTIVITY,
2018-2021 (USD BILLION) 162
TABLE 101 EUROPE: MICROGRID MARKET, BY CONNECTIVITY,
2022-2027 (USD BILLION) 163
TABLE 102 EUROPE: MICROGRID MARKET, BY OFFERING, 2018-2021 (USD BILLION) 163
TABLE 103 EUROPE: MICROGRID MARKET, BY OFFERING, 2022-2027 (USD BILLION) 163
TABLE 104 EUROPE: MICROGRID HARDWARE MARKET, BY TYPE,
2018-2021 (USD BILLION) 163
TABLE 105 EUROPE: MICROGRID HARDWARE MARKET, BY TYPE, 2022-2027 (USD BILLION) 164
TABLE 106 EUROPE: MICROGRID MARKET, BY END USER, 2018-2021 (USD BILLION) 164
TABLE 107 EUROPE: MICROGRID MARKET, BY END USER, 2022-2027 (USD BILLION) 164
TABLE 108 MICROGRID PROJECTS IN EUROPE FROM 2018 TO 2021 165
13.3.1 UK 165
13.3.1.1 Rising use of microgrids to reduce wastage of heat generated by traditional systems 165
TABLE 109 MICROGRID PROJECTS IN UK FROM 2018 TO 2021 166
13.3.2 GERMANY 166
13.3.2.1 Surging adoption of microgrids due to government initiatives 166
13.3.3 FRANCE 166
13.3.3.1 Increasing government investments to promote adoption of microgrids 166
13.3.4 ITALY 167
13.3.4.1 Growing installations of PV systems to boost demand for microgrids 167
13.3.5 REST OF EUROPE 167
13.4 ASIA PACIFIC 167
FIGURE 70 ASIA PACIFIC: MICROGRID MARKET SNAPSHOT 168
TABLE 110 ASIA PACIFIC: MICROGRID MARKET, BY COUNTRY,
2018-2021 (USD BILLION) 169
TABLE 111 ASIA PACIFIC: MICROGRID MARKET, BY COUNTRY,
2022-2027 (USD BILLION) 169
TABLE 112 ASIA PACIFIC: MICROGRID MARKET, BY CONNECTIVITY,
2018-2021 (USD BILLION) 169
TABLE 113 ASIA PACIFIC: MICROGRID MARKET, BY CONNECTIVITY,
2022-2027 (USD BILLION) 170
TABLE 114 ASIA PACIFIC: MICROGRID MARKET, BY OFFERING,
2018-2021 (USD BILLION) 170
TABLE 115 ASIA PACIFIC: MICROGRID MARKET, BY OFFERING,
2022-2027 (USD BILLION) 170
TABLE 116 ASIA PACIFIC: MICROGRID HARDWARE MARKET, BY TYPE,
2018-2021 (USD BILLION) 170
TABLE 117 ASIA PACIFIC: MICROGRID HARDWARE MARKET, BY TYPE,
2022-2027 (USD BILLION) 171
TABLE 118 ASIA PACIFIC: MICROGRID MARKET, BY END USER,
2018-2021 (USD BILLION) 171
TABLE 119 ASIA PACIFIC: MICROGRID MARKET, BY END USER,
2022-2027 (USD BILLION) 171
13.4.1 AUSTRALIA 172
13.4.1.1 Rising shift to microgrids due to surging prices of traditional grid electricity 172
TABLE 120 MICROGRID PROJECTS IN AUSTRALIA FROM 2018 TO 2020 172
13.4.2 CHINA 172
13.4.2.1 Increasing government initiatives to promote use of clean energy 172
13.4.3 JAPAN 173
13.4.3.1 Growing need for reliable power supply fueling growth of microgrid market 173
13.4.4 SOUTH KOREA 173
13.4.4.1 South Korea to record highest CAGR in microgrid market during forecast period 173
13.4.5 REST OF ASIA PACIFIC 173
TABLE 121 MICROGRID PROJECTS IN REST OF ASIA PACIFIC FROM 2018 TO 2021 174
13.5 ROW 175
TABLE 122 ROW: MICROGRID MARKET, BY REGION, 2018-2021 (USD BILLION) 175
TABLE 123 ROW: MICROGRID MARKET, BY COUNTRY, 2022-2027 (USD BILLION) 175
TABLE 124 ROW: MICROGRID MARKET, BY CONNECTIVITY, 2018-2021 (USD BILLION) 175
TABLE 125 ROW: MICROGRID MARKET, BY CONNECTIVITY, 2022-2027 (USD BILLION) 176
TABLE 126 ROW: MICROGRID MARKET, BY OFFERING, 2018-2021 (USD BILLION) 176
TABLE 127 ROW: MICROGRID MARKET, BY OFFERING, 2022-2027 (USD BILLION) 176
TABLE 128 ROW: MICROGRID HARDWARE MARKET, BY TYPE, 2018-2021 (USD BILLION) 176
TABLE 129 ROW: MICROGRID HARDWARE MARKET, BY TYPE, 2022-2027 (USD BILLION) 177
TABLE 130 ROW: MICROGRID MARKET, BY END USER, 2018-2021 (USD BILLION) 177
TABLE 131 ROW: MICROGRID MARKET, BY END USER, 2022-2027 (USD BILLION) 177
13.5.1 MIDDLE EAST 178
13.5.1.1 Growth of healthcare sector and rising demand for reliable power supply contribute to growth of microgrid market 178
13.5.2 AFRICA 178
13.5.2.1 Surging number of microgrid projects in region due to various government initiatives 178
TABLE 132 MICROGRID PROJECTS IN AFRICA FROM 2018 TO 2020 179
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14 COMPETITIVE LANDSCAPE 180
14.1 INTRODUCTION 180
14.2 KEY PLAYER STRATEGIES/RIGHT TO WIN 180
TABLE 133 OVERVIEW OF STRATEGIES ADOPTED BY KEY PLAYERS IN MICROGRID MARKET 180
14.3 MARKET SHARE ANALYSIS 183
FIGURE 71 MICROGRID MARKET: MARKET SHARE ANALYSIS 183
TABLE 134 MICROGRID MARKET: DEGREE OF COMPETITION 184
14.4 HISTORICAL REVENUE ANALYSIS (2017-2021) 185
FIGURE 72 REVENUE ANALYSIS OF KEY COMPANIES IN PAST FIVE YEARS 185
14.5 COMPANY EVALUATION QUADRANT, 2021 187
FIGURE 73 MICROGRID MARKET (GLOBAL) COMPANY EVALUATION MATRIX, 2021 187
14.5.1 STARS 188
14.5.2 EMERGING LEADERS 188
14.5.3 PERVASIVE COMPANIES 188
14.5.4 PARTICIPANTS 188
14.6 COMPANY FOOTPRINT 189
TABLE 135 COMPANY FOOTPRINT 189
TABLE 136 COMPANY FOOTPRINT, BY OFFERING 190
TABLE 137 COMPANY FOOTPRINT, BY END USER 191
TABLE 138 COMPANY FOOTPRINT, BY REGION 192
14.7 SMALL AND MEDIUM-SIZED ENTERPRISES (SME) EVALUATION MATRIX 193
FIGURE 74 SME EVALUATION MATRIX, 2021 193
14.7.1 PROGRESSIVE COMPANIES 193
14.7.2 RESPONSIVE COMPANIES 194
14.7.3 DYNAMIC COMPANIES 194
14.7.4 STARTING BLOCKS 194
14.8 COMPETITIVE BENCHMARKING 194
TABLE 139 MICROGRID MARKET: DETAILED LIST OF KEY SMES 194
TABLE 140 MICROGRID MARKET: COMPETITIVE BENCHMARKING OF KEY
PLAYERS (SMES) 195
14.9 COMPETITIVE SCENARIO AND TRENDS 196
14.9.1 PRODUCT LAUNCHES AND DEVELOPMENTS 196
TABLE 141 MICROGRID MARKET: PRODUCT LAUNCHES AND DEVELOPMENTS, JUNE 2018- FEBRUARY 2022 196
14.9.2 DEALS 202
TABLE 142 MICROGRID MARKET: DEALS, JANUARY 2018-JANUARY 2022 202
14.9.3 OTHERS 216
TABLE 143 MICROGRID MARKET: OTHERS 216
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15 COMPANY PROFILES 217
(Business overview, Products/solutions/services offered, Recent developments & MnM View)*
15.1 KEY PLAYERS 217
15.1.1 SCHNEIDER ELECTRIC 217
TABLE 144 SCHNEIDER ELECTRIC: BUSINESS OVERVIEW 217
FIGURE 75 SCHNEIDER ELECTRIC: COMPANY SNAPSHOT 218
TABLE 145 SCHNEIDER ELECTRIC: PRODUCTS OFFERED 219
TABLE 146 SCHNEIDER ELECTRIC: PRODUCT LAUNCHES 220
TABLE 147 SCHNEIDER ELECTRIC: DEALS 221
TABLE 148 SCHNEIDER ELECTRIC: OTHERS 222
15.1.2 SIEMENS 223
TABLE 149 SIEMENS: BUSINESS OVERVIEW 223
FIGURE 76 SIEMENS: COMPANY SNAPSHOT 224
TABLE 150 SIEMENS: PRODUCTS OFFERED 225
TABLE 151 SIEMENS: PRODUCT LAUNCHES 225
TABLE 152 SIEMENS: DEALS 227
15.1.3 GENERAL ELECTRIC 231
TABLE 153 GENERAL ELECTRIC: BUSINESS OVERVIEW 231
FIGURE 77 GENERAL ELECTRIC: COMPANY SNAPSHOT 232
TABLE 154 GENERAL ELECTRIC: PRODUCTS OFFERED 233
TABLE 155 GENERAL ELECTRIC: PRODUCT LAUNCHES 234
TABLE 156 GENERAL ELECTRIC: DEALS 235
15.1.4 EATON CORPORATION 240
TABLE 157 EATON CORPORATION: BUSINESS OVERVIEW 240
FIGURE 78 EATON CORPORATION: COMPANY SNAPSHOT 241
TABLE 158 EATON CORPORATION: PRODUCTS OFFERED 242
TABLE 159 EATON CORPORATION: PRODUCT LAUNCHES 243
TABLE 160 EATON CORPORATION: DEALS 244
TABLE 161 EATON CORPORATION: OTHERS 247
15.1.5 ABB 248
TABLE 162 ABB: BUSINESS OVERVIEW 248
FIGURE 79 ABB: COMPANY SNAPSHOT 249
TABLE 163 ABB: PRODUCTS OFFERED 249
TABLE 164 ABB: PRODUCT LAUNCHES 251
TABLE 165 ABB: DEALS 251
15.1.6 HITACHI ENERGY 254
TABLE 166 HITACHI ENERGY: BUSINESS OVERVIEW 254
TABLE 167 HITACHI ENERGY: PRODUCTS OFFERED 254
TABLE 168 HITACHI ENERGY: PRODUCT LAUNCHES 256
TABLE 169 HITACHI ENERGY: DEALS 256
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15.1.7 HONEYWELL INTERNATIONAL INC. 259
TABLE 170 HONEYWELL INTERNATIONAL INC.: BUSINESS OVERVIEW 259
FIGURE 80 HONEYWELL INTERNATIONAL INC.: COMPANY SNAPSHOT 260
TABLE 171 HONEYWELL INTERNATIONAL INC.: PRODUCTS OFFERED 261
TABLE 172 HONEYWELL INTERNATIONAL INC.: PRODUCT LAUNCHES 261
TABLE 173 HONEYWELL INTERNATIONAL INC.: DEALS 262
15.1.8 HOMER ENERGY (PART OF UL) 263
TABLE 174 HOMER ENERGY: BUSINESS OVERVIEW 263
TABLE 175 HOMER ENERGY: PRODUCTS OFFERED 264
TABLE 176 HOMER ENERGY: PRODUCT LAUNCHES 265
TABLE 177 HOMER ENERGY: DEALS 267
15.1.9 S&C ELECTRIC COMPANY 268
TABLE 178 S&C ELECTRIC COMPANY: BUSINESS OVERVIEW 268
TABLE 179 S&C ELECTRIC COMPANY: PRODUCTS OFFERED 268
TABLE 180 S&C ELECTRIC COMPANY: PRODUCT LAUNCHES 270
TABLE 181 S&C ELECTRIC COMPANY: DEALS 271
TABLE 182 S&C ELECTRIC COMPANY: OTHERS 271
15.1.10 POWER ANALYTICS CORPORATION 272
TABLE 183 POWER ANALYTICS CORPORATION: BUSINESS OVERVIEW 272
TABLE 184 POWER ANALYTICS CORPORATION: PRODUCTS OFFERED 273
TABLE 185 POWER ANALYTICS CORPORATION: PRODUCT LAUNCHES 274
TABLE 186 POWER ANALYTICS CORPORATION: DEALS 275
*Details on Business overview, Products/solutions/services offered, Recent developments & MnM View might not be captured in case of unlisted companies.
15.2 OTHER PLAYERS 276
15.2.1 CATERPILLAR INC. 276
15.2.2 TESLA ENERGY (SUBSIDIARY OF TESLA) 277
15.2.3 EMERSON ELECTRIC 278
15.2.4 PARETO ENERGY 279
15.2.5 ANBARIC TRANSMISSION 279
15.2.6 EXELON CORPORATION 280
15.2.7 SPIRAE LLC 280
15.2.8 GENERAL MICROGRIDS 281
15.2.9 GRAM POWER INC. 282
15.2.10 POWERHIVE 283
15.2.11 ADVANCED MICROGRID SOLUTIONS 283
15.2.12 GO ELECTRIC 284
15.2.13 FERROAMP 284
15.2.14 CANOPY POWER 285
15.2.15 GREEN ENERGY CORP 285
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16 APPENDIX 286
16.1 INSIGHTS FROM INDUSTRY EXPERTS 286
16.2 DISCUSSION GUIDE 286
16.3 KNOWLEDGE STORE: MARKETSANDMARKETS' SUBSCRIPTION PORTAL 290
16.4 AVAILABLE CUSTOMIZATIONS 292
16.5 RELATED REPORTS 292
16.6 AUTHOR DETAILS 293