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Microgrid Market Comprehensive Study Including Major Key Players- Siemens AG, Exelon, GE, Lockheed Martin Corporation, Lockheed Martin Corporation, ABB Group, Power Analytics | Grand View Research, In

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Microgrid Market Comprehensive Study Including Major Key Players- Siemens AG, Exelon, GE, Lockheed Martin Corporation, Lockheed Martin Corporation, ABB Group, Power Analytics | Grand View Research, In

March 31
05:05 2021
Microgrid Market Comprehensive Study Including Major Key Players- Siemens AG, Exelon, GE, Lockheed Martin Corporation, Lockheed Martin Corporation, ABB Group, Power Analytics | Grand View Research, In

“Grand View Research, Inc. – Market Research And Consulting.”
Micriogrid Market has experienced a staggering growth during the Covid-19 pandemic. Microgrids have brought a major change to the USA’s power sector amid the COVID-19 crisis and plays a significant role in altering the conservative energy paradigm. The market products can provide an optimal contingency plan to upkeep the existing grids, finds Grand View Research, Inc.

The global microgrid market is expected to reach USD 17.51 billion by 2025, growing at a CAGR of 17.0%. The improvement in manufacturing sectors of the developing markets such as Mexico, India, and China is a result of favorable government policies. This has attracted international investments and is projected to promote market growth.

Major hindrance and disruption in the supply chain due to the Covid-19-induced workforce restrictions and shutdowns have affected the microgrid market. India imports 80% of clean energy solutions and the closing of industries has affected the target dates. The Indian Ministry of New and Renewable Energy (MNRE) had extended the deadlines of activities proposed under the  ‘One Sun One World One Grid (OSOWOG)’. The OSOWOG aims at interconnecting the power transmission grids in the countries of South Asia, the Middle East, and Southeast Asia. 

Microgrid Market Report Highlights

 Based on power source, fuel cell is anticipated to foresee a CAGR of 25.1% from 2017 to 2025. This can be attributed to the superior ability of fuel cells to operate at high temperatures with negligible electrolytic loss

Based on products, grid-connected products market was valued at USD 2.17 billion in 2016 and is gaining popularity due to its ability to reduce transmission losses

Based on region, North America dominated the overall market and accounted for 71.9% of global volume share in 2016. This can be factored to the high adoption rate of captive power generation methods in the U.S. industrial and municipal sectors

Get Sample Copy Of This Report @ https://www.grandviewresearch.com/industry-analysis/microgrid-market/request/rs1

Microgrid Market Segmentation

Grand View Research has segmented the global microgrid market on the basis of power source, product, application, and region:

Microgrid Power Source Outlook (Volume, MW; Revenue, USD Million; 2014 – 2025)

     Natural Gas
     CHP
     Solar PV
     Diesel
     Fuel Cell
     Others

Microgrid Product Outlook (Volume, MW; Revenue, USD Million; 2014 – 2025)

     Remote
     Grid-connected
     Hybrid

Microgrid Application Outlook (Volume, MW; Revenue, USD Million; 2014 – 2025)

     Government
     Education
     Commercial
     Utility
     Defense
     Others

Microgrid Regional Outlook (Volume, MW; Revenue, USD Million; 2014 – 2025)

     North America
        • The U.S.
     Europe
        • Germany
     Asia Pacific
        • China
        • India
    • Central and South America
        • Brazil
     Middle East & Africa

Speak to Analyst @ https://www.grandviewresearch.com/inquiry/883/ibb

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About Grand View Research

Grand View Research is an India & U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services.

Media Contact
Company Name: Grand View Research, Inc.
Contact Person: Sherry James, Corporate Sales Specialist – U.S.A.
Email: Send Email
Phone: 1888202951
Address:Grand View Research, Inc. 201 Spear Street 1100 San Francisco, CA 94105, United States
City: San Francisco
State: California
Country: United States
Website: https://www.grandviewresearch.com/industry-analysis/microgrid-market

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