Microgrid Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2018-2023

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The global microgrid market was worth US$ 17 Billion in 2017. The market is further projected to cross US$ 33 Billion by 2023, at a CAGR of around 11.5% during 2018-2023. A microgrid is a distinct energy system which consists of interconnected loads and distributed energy resources that are capable of operating in parallel with, or independently from the main power grid. Generally, microgrids are considered as the smaller versions of power grids which deliver electricity from producers to consumers. They help to reduce the overall cost and provide backup for the grid in case of emergencies. As compared to traditional electrical grids, microgrids are more efficient and combined with various renewable sources such as solar, wind power, small hydro, geothermal, waste-to-energy, and combined heat and power (CHP) systems. Additionally, they can be powered by batteries, distributed generators or solar panels. Apart from this, microgrids are a reliable source of electricity as they operate continuously at the time of power outages.

Global Microgrid Market Drivers:

  • In order to ensure uninterrupted power supply through microgrid, various technological advancements have been made to enhance the performance of battery inverters. Other than this, improved battery technologies have also been developed with higher power inputs and outputs for a longer period of time. Such features and technologies are driving the growth of the microgrid market.
  • The demand for microgrids is on a rise as they allow consumers and developers to meet the environmental objectives by using renewable energy in the form of power generation source. In line with this, governments of several nations are taking initiatives to establish bio power, solar and wind energy farms. Other than this, countries like the United States have implemented regulations like the Clean Power Plan (CPP) rule which are aimed towards reducing carbon dioxide emissions.
  • Nowadays, dependence on modern communication technologies, such as wireless cloud computing, is increasing which makes power systems susceptible to cyber-attacks and hackers. Therefore, some of the sectors like military and research labs require a secure network with round-the-clock power supply which is provided by microgrids as they are capable of functioning under ‘Island mode’ and independent of all external power, and data transmissions. This has contributed towards their augmenting demand across the globe.
  • Another force that has been proactive in maintaining the growth of the global microgrid market is low transmission losses. Microgrids generate power locally and reduce dependence on long distance transmission lines and thus cut transmission losses.

Microgrid Market Research Report

Breakup by Energy Source:

The microgrid market has been segmented on the basis of energy sources which mainly include natural gas, combined heat and power, solar photovoltaic (PV), diesel and fuel cell. Amongst these, natural gas is the most popular source of energy generation used by microgrids as it produces less carbon emissions as compared to oil or coal-fired generation.

Breakup by Application:

Microgrids find several applications which include remote systems, institution and campus, utility/community and defence. Currently, microgrids are being majorly used in remote systems which offer localised power to islands, industrial mines and military installations.

Regional Insights:

On a geographical front, North America enjoys the leading position, holding the majority of the market share. The growth in the region is due to the increasing use of microgrids in the defence sector and remote systems for improving security against cyberattacks. North America is followed by Asia Pacific, Europe, Middle East and Africa, and Latin America.

Competitive Analysis:

The global microgrid market is fragmented in nature with the presence of numerous small and large manufacturers who compete in terms of prices and quality. Some of the leading players operating in the market are:

  • Lockheed Martin
  • ABB Ltd
  • General Electric
  • Eaton Corporation
  • Siemens

This report provides a deep insight into the global microgrid market covering all its essential aspects. This ranges from macro overview of the market to micro details of the industry performance, recent trends, key market drivers and challenges, SWOT analysis, Porter’s five forces analysis, value chain analysis, etc. This report is a must-read for entrepreneurs, investors, researchers, consultants, business strategists, and all those who have any kind of stake or are planning to foray into the microgrid market in any manner.

Key Questions Answered in This Report:

  • How has the global microgrid market performed so far and how will it perform in the coming years?
  • What are the major regions in the global microgrid market?
  • Which are the popular energy sources in the global microgrid market?
  • What are the key applications in the global microgrid market?
  • What are the various stages in the value chain of the global microgrid market?
  • What are the key driving factors and challenges in the global microgrid market?
  • What is the structure of the global microgrid market and who are the key players?
  • What is the degree of competition in the global microgrid market?
  • How are microgrids manufactured?

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 Microgrid Market
    5.1    Market Overview
    5.2    Market Performance
    5.3    Market Breakup by Application
    5.4    Market Breakup by Energy Source
    5.5    Market Breakup by Region
    5.6    Market Forecast
    5.7    SWOT Analysis
        5.7.1    Overview
        5.7.2    Strengths
        5.7.3    Weaknesses
        5.7.4    Opportunities
        5.7.5    Threats
    5.8    Value Chain Analysis
        5.8.1    Overview
        5.8.2    Research and Development
        5.8.3    Raw Material Procurement
        5.8.4    Manufacturing
        5.8.5    Marketing
        5.8.6    Distribution
        5.8.7    End-Use
    5.9    Porters Five Forces Analysis
        5.9.1    Overview
        5.9.2    Bargaining Power of Buyers
        5.9.3    Bargaining Power of Suppliers
        5.9.4    Degree of Competition
        5.9.5    Threat of New Entrants
        5.9.6    Threat of Substitutes
6    Market Breakup by Energy Source
    6.1    Natural Gas
    6.2    Combined Heat and Power
    6.3    Solar Photovoltaic (PV)
    6.4    Diesel
    6.5    Fuel Cell
    6.6    Others
7    Market Breakup by Application
    7.1    Remote Systems
    7.2    Institution and Campus
    7.3    Utility/Community
    7.4    Defence
    7.5    Others
8    Market Breakup by Region
    8.1    North America
    8.2    Asia Pacific
    8.3    Europe
    8.4    Middle East and Africa
    8.5    Latin America
9    Microgrid Manufacturing Process
    9.1    Product Overview
    9.2    Raw Material Requirements
    9.3    Manufacturing Process
    9.4    Key Success and Risk Factors
10    Competitive Landscape
    10.1    Market Structure
    10.2    Key Players
    10.3    Profiles of Key Players
        10.3.1    Lockheed Martin
      Company Overview
      Product Portfolio
      SWOT Analysis
        10.3.2    ABB Ltd
      Company Overview
      Product Portfolio
      SWOT Analysis
        10.3.3    General Electric
      Company Overview
      Product Portfolio
      SWOT Analysis
        10.3.4    Eaton Corporation
      Company Overview
      Product Portfolio
      SWOT Analysis
        10.3.5    Siemens
      Company Overview
      Product Portfolio
      SWOT Analysis


List of Figures

Figure 1: Global: Microgrid Market: Major Drivers and Challenges
Figure 2: Global: Microgrid Market: Sales Value (in Billion US$), 2010-2017
Figure 3: Global: Microgrid Market: Breakup by Application (in %), 2017
Figure 4: Global: Microgrid Market: Breakup by Region (in %), 2017
Figure 5: Global: Microgrid Market Forecast: Sales Value (in Billion US$), 2018-2023
Figure 6: Global: Microgrid Industry: SWOT Analysis
Figure 7: Global: Microgrid Industry: Value Chain Analysis
Figure 8: Global: Microgrid Industry: Porter’s Five Forces Analysis
Figure 9: Global: Microgrid Market: Natural Gas: Sales Value (in Million US$), 2010, 2017 & 2023
Figure 10: Global: Microgrid Market: Combined Heat and Power: Sales Value (in Million US$), 2010, 2017 & 2023
Figure 11: Global: Microgrid Market: Solar Photovoltaic (PV) : Sales Value (in Million US$), 2010, 2017 & 2023
Figure 12: Global: Microgrid Market: Diesel: Sales Value (in Million US$), 2010, 2017 & 2023
Figure 13: Global: Microgrid Market: Fuel Cell: Sales Value (in Million US$), 2010, 2017 & 2023
Figure 14: Global: Microgrid Market (Applications in Remote Systems): Sales Value (in Million US$), 2010, 2017 & 2023
Figure 15: Global: Microgrid Market (Applications in Institution and Campus): Sales Value (in Million US$), 2010, 2017 & 2023
Figure 16: Global: Microgrid Market (Applications in Utility/Community): Sales Value (in Million US$), 2010, 2017 & 2023
Figure 17: Global: Microgrid Market (Applications in defence): Sales Value (in Million US$), 2010, 2017 & 2023
Figure 18: Global: Microgrid Market (Other Applications): Sales Value (in Million US$), 2010, 2017 & 2023
Figure 19: North America: Microgrid Market: Sales Value (in Million US$), 2010, 2017 & 2023
Figure 20: Asia Pacific: Microgrid Market: Sales Value (in Million US$), 2010, 2017 & 2023
Figure 21: Europe: Microgrid Market: Sales Value (in Million US$), 2010, 2017 & 2023
Figure 22: Middle East and Africa: Microgrid Market: Sales Value (in Million US$), 2010, 2017 & 2023
Figure 23: Latin America: Microgrid Market: Sales Value (in Million US$), 2010, 2017 & 2023
Figure 24: Microgrid Manufacturing: Process Flow


List of Tables

Table 1: Global: Microgrid Market: Key Industry Highlights, 2017 and 2023
Table 2: Global: Microgrid Market Forecast: Breakup by Energy Source (in Million US$), 2018-2023
Table 3: Global: Microgrid Market Forecast: Breakup by Application (in Million US$), 2018-2023
Table 4: Global: Microgrid Market Forecast: Breakup by Region (in Million US$), 2018-2023
Table 5: Microgrid: Raw Material Requirements
Table 6: Global: Microgrid Market Structure
Table 7: Global: Microgrid Market: Key Players

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