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Report
Nanogrid Market by Type (DC Nanogrid, AC Nanogrid), Components (Controller, Gateway, Storage, and Others), Mode of Operation (Island Mode, Grid Connected Mode), Function (Energy Generation, Energy Storage), Energy Source (Solar, Wind, and Others), Application (Residential, Commercial), and Region 2024-2032
Market Report I 2024-04-08 I 135 Pages I IMARC Group
The Global nanogrid market size reached US$ 16.2 Billion in 2023. Looking forward, IMARC Group expects the market to reach US$ 31.3 Billion by 2032, exhibiting a growth rate (CAGR) of 7.4% during 2024-2032. The increasing electricity consumption, stringent policies imposed by governments of several countries to minimize carbon emissions, and various product innovations represent some of the key factors driving the market.
A nanogrid refers to a power distribution system that generates and stores power for a house or a small building. It offers improved electrical services to areas that insufficiently served by a conventional electricity grid. It can operate in either island mode or grid connected mode and comprises a local power production, domestic load, gateway, controller and a storage. At present, the increasing sales of home appliances and smart devices, such as smartphones, tablets, desktops, laptops, on account of rising penetration of high speed internet connectivity is catalyzing the demand for nanogrids across the globe.
Global Nanogrid Market
Nanogrid Market Trends:
Rapid urbanization, expanding global population, and increasing investments in the development of smart cities by governing agencies of numerous countries are driving the application of nanogrids in commercial and residential complexes. This represents one of the major factors strengthening the market growth around the world. Moreover, the surging consumption of electricity worldwide is driving the need for nanogrids to minimize the instances of power failures. In addition, due to rising environmental concerns, governing agencies of numerous countries are imposing stringent policies to reduce carbon emissions and boost the adoption of renewable energy, such as solar photovoltaic (PV) and nanogrids. They are also undertaking measures to facilitate the supply of electricity in rural areas. Apart from this, there is an increase in the awareness among people about the benefits of using nanogrids, such as improving power quality and reliability and storing clean energy. This, along with the launch of the smart grid that allows real-time collection of data about the electricity demand and supply during the transmission and distribution process is favoring the growth of the market. Besides this, the rising adoption of nonogrids in the agriculture sector for various irrigation processes like pumping water and spraying pesticides is contributing to the market growth. Additionally, the growing number of electric vehicle (EV) charging stations that are powered by nanogrids to provide uninterrupted charging on account of the increasing demand for EVs is creating a positive outlook for the market. The market growth can also be attributed to inflating income levels of individuals and improving living standards.
Key Market Segmentation:
IMARC Group provides an analysis of the key trends in each segment of the global nanogrid market, along with forecasts at the global, regional, and country level from 2024-2032. Our report has categorized the market based on product, components, function, sources, and application.
Type Insights:
DC Nanogrid
AC Nanogrid
The report has also provided a detailed breakup and analysis of the nanogrid market based on the type. This includes DC nanogrid and AC nanogrid. According to the report, DC nanogrid represented the largest market.
Components Insights:
Controller
Gateway
Storage
Others
A detailed breakup and analysis of the nanogrid market based on the components has also been provided in the report. This includes controller, gateway, storage, and others. According to the report, controller represented the largest segment.
Mode of Operation Insights:
Island Mode
Grid Connected Mode
The report has also provided a detailed breakup and analysis of the nanogrid market based on the mode of operation. This includes island mode and grid connected mode. According to the report, island mode represented the largest market.
Function Insights:
Energy Generation
Energy Storage
A detailed breakup and analysis of the nanogrid market based on the function has also been provided in the report. This includes energy generation and energy storage. According to the report, energy generation represented the largest segment.
Energy Source Insights:
Solar
Wind
Others
The report has also provided a detailed breakup and analysis of the nanogrid market based on the energy source. This includes solar, wind and others. According to the report, solar represented the largest market.
Application Insights:
Residential
Commercial
A detailed breakup and analysis of the nanogrid market based on the application has also been provided in the report. This includes residential and commercial. According to the report, residential represented the largest segment.
Regional Insights:
North America
United States
Canada
Asia-Pacific
China
Japan
India
South Korea
Australia
Indonesia
Others
Europe
Germany
France
United Kingdom
Italy
Spain
Russia
Others
Latin America
Brazil
Mexico
Others
Middle East and Africa
The report has also provided a comprehensive analysis of all the major regional markets that include North America (the United States and Canada), Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, and others), Europe (Germany, France, United Kingdom, Italy, Spain, Russia, and others), Latin America (Brazil, Mexico, and others), and the Middle East and Africa. According to the report, Asia Pacific was the largest market for nanogrid. Some of the factors driving the Asia Pacific nanogrid market included numerous initiatives undertaken by governing authorities to reduce carbon emission, integration of advanced technologies, launch of smart grids, etc.
Competitive Landscape:
The report has also provided a comprehensive analysis of the competitive landscape in the global nanogrid market. Detailed profiles of all major companies have also been provided. Some of the companies covered include Eaton Corporation plc, Emerson Electric Co., and Sunverge Energy Inc. Kindly note that this only represents a partial list of companies, and the complete list has been provided in the report.
Key Questions Answered in This Report:
How has the global nanogrid market performed so far and how will it perform in the coming years?
What are the drivers, restraints, and opportunities in the global nanogrid market?
What are the key regional markets?
Which countries represent the most attractive nanogrid markets?
What is the breakup of the market based on the product?
What is the breakup of the market based on the components?
What is the breakup of the market based on the function?
What is the breakup of the market based on the sources?
What is the breakup of the market based on the application?
What is the competitive structure of the global nanogrid market?
Who are the key players/companies in the global nanogrid market?
1 Preface
2 Scope and Methodology
2.1 Objectives of the Study
2.2 Stakeholders
2.3 Data Sources
2.3.1 Primary Sources
2.3.2 Secondary Sources
2.4 Market Estimation
2.4.1 Bottom-Up Approach
2.4.2 Top-Down Approach
2.5 Forecasting Methodology
3 Executive Summary
4 Introduction
4.1 Overview
4.2 Key Industry Trends
5 Global Nanogrid Market
5.1 Market Overview
5.2 Market Performance
5.3 Impact of COVID-19
5.4 Market Forecast
6 Market Breakup by Type
6.1 DC Nanogrid
6.1.1 Market Trends
6.1.2 Market Forecast
6.2 AC Nanogrid
6.2.1 Market Trends
6.2.2 Market Forecast
7 Market Breakup by Components
7.1 Controller
7.1.1 Market Trends
7.1.2 Market Forecast
7.2 Gateway
7.2.1 Market Trends
7.2.2 Market Forecast
7.3 Storage
7.3.1 Market Trends
7.3.2 Market Forecast
7.4 Others
7.4.1 Market Trends
7.4.2 Market Forecast
8 Market Breakup by Mode of Operation
8.1 Islanded Mode
8.1.1 Market Trends
8.1.2 Market Forecast
8.2 Grid Connected Mode
8.2.1 Market Trends
8.2.2 Market Forecast
9 Market Breakup by Function
9.1 Energy Generation
9.1.1 Market Trends
9.1.2 Market Forecast
9.2 Energy Storage
9.2.1 Market Trends
9.2.2 Market Forecast
10 Market Breakup by Energy Source
10.1 Solar
10.1.1 Market Trends
10.1.2 Market Forecast
10.2 Wind
10.2.1 Market Trends
10.2.2 Market Forecast
10.3 Others
10.3.1 Market Trends
10.3.2 Market Forecast
11 Market Breakup by Application
11.1 Residential
11.1.1 Market Trends
11.1.2 Market Forecast
11.2 Commercial
11.2.1 Market Trends
11.2.2 Market Forecast
12 Market Breakup by Region
12.1 North America
12.1.1 United States
12.1.1.1 Market Trends
12.1.1.2 Market Forecast
12.1.2 Canada
12.1.2.1 Market Trends
12.1.2.2 Market Forecast
12.2 Asia-Pacific
12.2.1 China
12.2.1.1 Market Trends
12.2.1.2 Market Forecast
12.2.2 Japan
12.2.2.1 Market Trends
12.2.2.2 Market Forecast
12.2.3 India
12.2.3.1 Market Trends
12.2.3.2 Market Forecast
12.2.4 South Korea
12.2.4.1 Market Trends
12.2.4.2 Market Forecast
12.2.5 Australia
12.2.5.1 Market Trends
12.2.5.2 Market Forecast
12.2.6 Indonesia
12.2.6.1 Market Trends
12.2.6.2 Market Forecast
12.2.7 Others
12.2.7.1 Market Trends
12.2.7.2 Market Forecast
12.3 Europe
12.3.1 Germany
12.3.1.1 Market Trends
12.3.1.2 Market Forecast
12.3.2 France
12.3.2.1 Market Trends
12.3.2.2 Market Forecast
12.3.3 United Kingdom
12.3.3.1 Market Trends
12.3.3.2 Market Forecast
12.3.4 Italy
12.3.4.1 Market Trends
12.3.4.2 Market Forecast
12.3.5 Spain
12.3.5.1 Market Trends
12.3.5.2 Market Forecast
12.3.6 Russia
12.3.6.1 Market Trends
12.3.6.2 Market Forecast
12.3.7 Others
12.3.7.1 Market Trends
12.3.7.2 Market Forecast
12.4 Latin America
12.4.1 Brazil
12.4.1.1 Market Trends
12.4.1.2 Market Forecast
12.4.2 Mexico
12.4.2.1 Market Trends
12.4.2.2 Market Forecast
12.4.3 Others
12.4.3.1 Market Trends
12.4.3.2 Market Forecast
12.5 Middle East and Africa
12.5.1 Market Trends
12.5.2 Market Breakup by Country
12.5.3 Market Forecast
13 Drivers, Restraints, and Opportunities
13.1 Overview
13.2 Drivers
13.3 Restraints
13.4 Opportunities
14 Value Chain Analysis
15 Porters Five Forces Analysis
15.1 Overview
15.2 Bargaining Power of Buyers
15.3 Bargaining Power of Suppliers
15.4 Degree of Competition
15.5 Threat of New Entrants
15.6 Threat of Substitutes
16 Price Analysis
17 Competitive Landscape
17.1 Market Structure
17.2 Key Players
17.3 Profiles of Key Players
17.3.1 Eaton Corporation plc
17.3.1.1 Company Overview
17.3.1.2 Product Portfolio
17.3.1.3 Financials
17.3.1.4 SWOT Analysis
17.3.2 Emerson Electric Co.
17.3.2.1 Company Overview
17.3.2.2 Product Portfolio
17.3.2.3 Financials
17.3.2.4 SWOT Analysis
17.3.3 Sunverge Energy Inc.
17.3.3.1 Company Overview
17.3.3.2 Product Portfolio
Kindly note that this only represents a partial list of companies, and the complete list has been provided in the report.
Figure 1: Global: Nanogrid Market: Major Drivers and Challenges
Figure 2: Global: Nanogrid Market: Sales Value (in Billion US$), 2018-2023
Figure 3: Global: Nanogrid Market Forecast: Sales Value (in Billion US$), 2024-2032
Figure 4: Global: Nanogrid Market: Breakup by Type (in %), 2023
Figure 5: Global: Nanogrid Market: Breakup by Components (in %), 2023
Figure 6: Global: Nanogrid Market: Breakup by Mode of Operation (in %), 2023
Figure 7: Global: Nanogrid Market: Breakup by Function (in %), 2023
Figure 8: Global: Nanogrid Market: Breakup by Energy Source (in %), 2023
Figure 9: Global: Nanogrid Market: Breakup by Application (in %), 2023
Figure 10: Global: Nanogrid Market: Breakup by Region (in %), 2023
Figure 11: Global: Nanogrid (DC Nanogrid) Market: Sales Value (in Million US$), 2018 & 2023
Figure 12: Global: Nanogrid (DC Nanogrid) Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 13: Global: Nanogrid (AC Nanogrid) Market: Sales Value (in Million US$), 2018 & 2023
Figure 14: Global: Nanogrid (AC Nanogrid) Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 15: Global: Nanogrid (Controller) Market: Sales Value (in Million US$), 2018 & 2023
Figure 16: Global: Nanogrid (Controller) Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 17: Global: Nanogrid (Gateway) Market: Sales Value (in Million US$), 2018 & 2023
Figure 18: Global: Nanogrid (Gateway) Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 19: Global: Nanogrid (Storage) Market: Sales Value (in Million US$), 2018 & 2023
Figure 20: Global: Nanogrid (Storage) Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 21: Global: Nanogrid (Other Components) Market: Sales Value (in Million US$), 2018 & 2023
Figure 22: Global: Nanogrid (Other Components) Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 23: Global: Nanogrid (Islanded Mode) Market: Sales Value (in Million US$), 2018 & 2023
Figure 24: Global: Nanogrid (Islanded Mode) Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 25: Global: Nanogrid (Grid Connected Mode) Market: Sales Value (in Million US$), 2018 & 2023
Figure 26: Global: Nanogrid (Grid Connected Mode) Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 27: Global: Nanogrid (Energy Generation) Market: Sales Value (in Million US$), 2018 & 2023
Figure 28: Global: Nanogrid (Energy Generation) Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 29: Global: Nanogrid (Energy Storage) Market: Sales Value (in Million US$), 2018 & 2023
Figure 30: Global: Nanogrid (Energy Storage) Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 31: Global: Nanogrid (Solar) Market: Sales Value (in Million US$), 2018 & 2023
Figure 32: Global: Nanogrid (Solar) Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 33: Global: Nanogrid (Wind) Market: Sales Value (in Million US$), 2018 & 2023
Figure 34: Global: Nanogrid (Wind) Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 35: Global: Nanogrid (Other Energy Sources) Market: Sales Value (in Million US$), 2018 & 2023
Figure 36: Global: Nanogrid (Other Energy Sources) Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 37: Global: Nanogrid (Residential) Market: Sales Value (in Million US$), 2018 & 2023
Figure 38: Global: Nanogrid (Residential) Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 39: Global: Nanogrid (Commercial) Market: Sales Value (in Million US$), 2018 & 2023
Figure 40: Global: Nanogrid (Commercial) Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 41: North America: Nanogrid Market: Sales Value (in Million US$), 2018 & 2023
Figure 42: North America: Nanogrid Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 43: United States: Nanogrid Market: Sales Value (in Million US$), 2018 & 2023
Figure 44: United States: Nanogrid Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 45: Canada: Nanogrid Market: Sales Value (in Million US$), 2018 & 2023
Figure 46: Canada: Nanogrid Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 47: Asia-Pacific: Nanogrid Market: Sales Value (in Million US$), 2018 & 2023
Figure 48: Asia-Pacific: Nanogrid Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 49: China: Nanogrid Market: Sales Value (in Million US$), 2018 & 2023
Figure 50: China: Nanogrid Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 51: Japan: Nanogrid Market: Sales Value (in Million US$), 2018 & 2023
Figure 52: Japan: Nanogrid Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 53: India: Nanogrid Market: Sales Value (in Million US$), 2018 & 2023
Figure 54: India: Nanogrid Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 55: South Korea: Nanogrid Market: Sales Value (in Million US$), 2018 & 2023
Figure 56: South Korea: Nanogrid Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 57: Australia: Nanogrid Market: Sales Value (in Million US$), 2018 & 2023
Figure 58: Australia: Nanogrid Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 59: Indonesia: Nanogrid Market: Sales Value (in Million US$), 2018 & 2023
Figure 60: Indonesia: Nanogrid Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 61: Others: Nanogrid Market: Sales Value (in Million US$), 2018 & 2023
Figure 62: Others: Nanogrid Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 63: Europe: Nanogrid Market: Sales Value (in Million US$), 2018 & 2023
Figure 64: Europe: Nanogrid Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 65: Germany: Nanogrid Market: Sales Value (in Million US$), 2018 & 2023
Figure 66: Germany: Nanogrid Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 67: France: Nanogrid Market: Sales Value (in Million US$), 2018 & 2023
Figure 68: France: Nanogrid Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 69: United Kingdom: Nanogrid Market: Sales Value (in Million US$), 2018 & 2023
Figure 70: United Kingdom: Nanogrid Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 71: Italy: Nanogrid Market: Sales Value (in Million US$), 2018 & 2023
Figure 72: Italy: Nanogrid Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 73: Spain: Nanogrid Market: Sales Value (in Million US$), 2018 & 2023
Figure 74: Spain: Nanogrid Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 75: Russia: Nanogrid Market: Sales Value (in Million US$), 2018 & 2023
Figure 76: Russia: Nanogrid Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 77: Others: Nanogrid Market: Sales Value (in Million US$), 2018 & 2023
Figure 78: Others: Nanogrid Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 79: Latin America: Nanogrid Market: Sales Value (in Million US$), 2018 & 2023
Figure 80: Latin America: Nanogrid Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 81: Brazil: Nanogrid Market: Sales Value (in Million US$), 2018 & 2023
Figure 82: Brazil: Nanogrid Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 83: Mexico: Nanogrid Market: Sales Value (in Million US$), 2018 & 2023
Figure 84: Mexico: Nanogrid Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 85: Others: Nanogrid Market: Sales Value (in Million US$), 2018 & 2023
Figure 86: Others: Nanogrid Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 87: Middle East and Africa: Nanogrid Market: Sales Value (in Million US$), 2018 & 2023
Figure 88: Middle East and Africa: Nanogrid Market: Breakup by Country (in %), 2023
Figure 89: Middle East and Africa: Nanogrid Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 90: Global: Nanogrid Industry: Drivers, Restraints, and Opportunities
Figure 91: Global: Nanogrid Industry: Value Chain Analysis
Figure 92: Global: Nanogrid Industry: Porter's Five Forces Analysis
Table 1: Global: Nanogrid Market: Key Industry Highlights, 2023 and 2032
Table 2: Global: Nanogrid Market Forecast: Breakup by Type (in Million US$), 2024-2032
Table 3: Global: Nanogrid Market Forecast: Breakup by Components (in Million US$), 2024-2032
Table 4: Global: Nanogrid Market Forecast: Breakup by Mode of Operation (in Million US$), 2024-2032
Table 5: Global: Nanogrid Market Forecast: Breakup by Function (in Million US$), 2024-2032
Table 6: Global: Nanogrid Market Forecast: Breakup by Energy Source (in Million US$), 2024-2032
Table 7: Global: Nanogrid Market Forecast: Breakup by Application (in Million US$), 2024-2032
Table 8: Global: Nanogrid Market Forecast: Breakup by Region (in Million US$), 2024-2032
Table 9: Global: Nanogrid Market: Competitive Structure
Table 10: Global: Nanogrid Market: Key Players
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