Global Microgrid Market is expected to register a CAGR of healthy rate in the forecast period 2018 to 2025. The new market report contains data for historic year 2016, the base year of calculation is 2017 and the forecast period is 2018 to 2025.
Global Microgrid Market Report categorizes the global and regional Microgrid Control System market segment by region, type, and applications. Microgrid Market report studies market insights, suppliers, buyers, threats of new entrants and substitute products. Also, the research report includes the various market dynamics like drivers, restraints, and opportunities globally.
Microgrid helps in real-time operations of the grid. The real-time is mainly done through hardware and software components to gather equipment information. The report involves the various affecting factors like market share, competitive intelligence, and growth opportunity. They control all the equipment according to safe and stable operational requirements.
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Segmentation: Global Microgrid Market
Global Microgrid Market – Industry Trends and Forecast to 2025
- By Grid Type
- AC Microgrid,
- DC Microgrid, and
- By Connectivity
- grid connected and
- BY Offering
- Software, And
- By Vertical
- Educational Institutions,
- Military, and
- Electric Utility
- By Power Source
- Natural Gas,
- Combined Heat and Power,
- Diesel, Solar,
- Fuel Cells,
- And Others
- By Geography
- North America,
- Middle East and Africa, and
- South America
Major Players: Global Microgrid Market
Some of the major players operating in this market are
- ABB Ltd.,
- General Electric Company,
- Siemens AG,
- Honeywell International Inc.,
- Eaton Corporation Plc,
- And among others.
Drivers: Global Microgrid Market
The increased demand of automated grid systems, reduction in carbon footprint, advancement in microgrid connectivity by integration of IOT, and benefits of low cost and clean energy storage is the prominent factors driving the growth of this market.
INCREASED DEMAND OF AUTOMATED GRID SYSTEMS
- The rapid industrialization has come up with the need of stable power supply with automated reliable system.
- The automated grids provide demand-sensitive pricing strategies with focus on efficient electric power supply. The microgrid is the part of automated grid systems. As the demand of automated grid systems has increased, this in turn has boosted the demand for microgrid.
- Many top leading companies are collaborating and partnering to develop new technological solitons for providing smart microgrid. Recently in June 2018, Siemens AG (Germany) has signed a contract with Lempaalan Energia Oy (Finland) to develop a self-sufficient smart grid in the Marjamaki industrial area.
- The Siemens AG (Germany) to provide grid automation system with medium-voltage microgrid and electrical storage system for generating the power. This smart grid to provide target to supply 3,600 megawatt hours of power using two clusters of solar panel.
- The increase in demand for automated grid systems has led to increase in microgrid market.
ADVANCEMENT IN MICROGRID CONNECTIVITY BY INTEGRATION OF IOT
In this rapid developing era, the microgrid are also updating with the new technologies. The Internet of Things (IoT) is a software platform that helps in monitoring and managing distributed resources. In microgrid the IoT can be used for providing the information regarding the solar panels, fuel cells, smart meter, combined heat and power (CHP), and micro turbines. It also helps to remotely test and calibrate equipment and also monitor energy usage and production in real-time. The verticals such as transportation, refining, oil and gas, military, and healthcare need superior monitoring and process control for their microgrid.
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