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Market Snapshot

CAGR:6.51

2023

2032

Source: Market Expertz

Study Period	2019-2032
Base Year	2023
Forcast Year	2023-2032
CAGR	6.51

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Report Overview

Report Scope:

This market study assesses the leading microgrid technologies that are currently in use globally for powering commercial, industrial, military, and educational facilities such as universities, homes and communities, and rural/off-grid villages. The microgrid technologies discussed in this report are in use across these industries and many more as well as new emerging sectors driven by technological innovation.

The market analysis provided in this report is based on a variety of data sources. These include the most recent government, industry, academic and company data regarding the projected level of demand for microgrid technologies. The report provides a comprehensive review of available data to provide a realistic, robust and accurate assessment of this quickly changing market.

BCC analyzes each major microgrid technology, determines its current market status, examines its impact on future markets and presents forecasts of growth over the next five years. Technological issues, including the latest trends, are assessed and discussed, as are the current and likely regulatory environments in the industry.

BCC analyzes the industry worldwide in terms of manufacturing and deployment of technologies or products. For the most relevant and available microgrid technologies BCC examines the role of government both in regulating the industry and in supporting these microgrid technologies through promotional incentives. The report discusses recent trends and sales and provides industry overviews and market assessments for leading microgrid technology. Estimated values used are based on manufacturers' total revenues.

Report Includes:

- 29 data tables and 7 additional tables
- An overview of the global market for microgrid technologies
- Analyses of global market trends, with data from 2016 and 2017, and projections of compound annual growth rates (CAGRs) through 2022
- Identification of segments with high growth potential and their future applications
- Explanation of major drivers and regional dynamics of the market and current trends within the industry
- Detailed profiles of major vendors in the market, including ABB Group, ALSTOM Power, Inc., Burns Engineering, Inc., Caterpillar Inc. and Toshiba Corp.

Summary

The global microgrid market is forecast to increase from REDACTED in 2016 to REDACTED in 2017,rising to nearly REDACTED by 2022 at a compound annual growth rate (CAGR) of REDACTED over the five-year forecast period. Distributed renewable energy microgrid technology holds significant potential as akey driver for increasing energy access for millions of people around the word without access to energyas well as for providing reliable and stable power to industry. Because the microgrid approach to electrical distribution allows local users more flexibility on control over the optimization of power sources and uses, it is growing in appeal.

Microgrids are an extension of on-site generators, or dedicated power supplies, sometimes called captive generation. Technically, a microgrid is a grouping of small, independent power-generating equipment connected to computer systems that monitor, control and balance energy demand and supply and storage in response to changing energy needs. They can also be cleaner if solar or wind is used as part of the energy mix. Now that solar panel prices have fallen, distributed solar can be cheaper than running diesel generators alone for backup power. The microgrid market is therefore undergoing a transformation from a niche application intended for military bases, telecommunication base stations and remote communities to national grid extenders, a grid modernization tool for utilities, cities, communities and public institutions.

The largest microgrid segment throughout the forecast period will be the grid-connected microgrid market, valued at REDACTED in 2016 and forecast to increase from REDACTED in 2017 at a CAGR of REDACTED to reach REDACTED by 2022. Grid-connected systems will primarily be found in more developed countries, where the main aim of the user is not necessarily power provision, but power supply resiliency and reliability.

Report Scope:

This market study assesses the leading microgrid technologies that are currently in use globally for powering commercial, industrial, military, and educational facilities such as universities, homes and communities, and rural/off-grid villages. The microgrid technologies discussed in this report are in use across these industries and many more as well as new emerging sectors driven by technological innovation.

The market analysis provided in this report is based on a variety of data sources. These include the most recent government, industry, academic and company data regarding the projected level of demand for microgrid technologies. The report provides a comprehensive review of available data to provide a realistic, robust and accurate assessment of this quickly changing market.

BCC analyzes each major microgrid technology, determines its current market status, examines its impact on future markets and presents forecasts of growth over the next five years. Technological issues, including the latest trends, are assessed and discussed, as are the current and likely regulatory environments in the industry.

BCC analyzes the industry worldwide in terms of manufacturing and deployment of technologies or products. For the most relevant and available microgrid technologies BCC examines the role of government both in regulating the industry and in supporting these microgrid technologies through promotional incentives. The report discusses recent trends and sales and provides industry overviews and market assessments for leading microgrid technology. Estimated values used are based on manufacturers' total revenues.

Report Includes:

- 29 data tables and 7 additional tables
- An overview of the global market for microgrid technologies
- Analyses of global market trends, with data from 2016 and 2017, and projections of compound annual growth rates (CAGRs) through 2022
- Identification of segments with high growth potential and their future applications
- Explanation of major drivers and regional dynamics of the market and current trends within the industry
- Detailed profiles of major vendors in the market, including ABB Group, ALSTOM Power, Inc., Burns Engineering, Inc., Caterpillar Inc. and Toshiba Corp.

Table of Contents
Chapter 1 Introduction
Study Goals and Objectives
Reasons for Doing This Study
Scope of Report
Information Sources
Methodology
Geographic Breakdown
Analyst's Credentials
Related BCC Research Reports
Chapter 2 Summary and Highlights
Chapter 3 Market and Technology Background
Microgrid Definition
Grid-connected vs. Off-grid Microgrids
Types of Microgrids by Connectivity
AC Microgrid
DC Microgrid
Microgrid Applications
Hospitals and Healthcare Facilities
Campus and Institutional Microgrids
Commercial and Industrial (C&I) Microgrids
Community and Utility Microgrids
Remote "Off-grid" Microgrids
Military Base Microgrids
Virtual microgrids
Where are Microgrids Found?
Microgrid-Enabling Technologies
Power Source
Cogeneration (CHP) and Micro-CHP
Diesel Generator and Diesel Hybrid and Fuel Cells
Fuel Cell
Renewable Power Sources
PV Solar Cells
Wind
Waste-to-Energy
Micro-turbines (Hydro)
Distributed Energy Storage Systems
Batteries
Lithium-Ion Batteries
Lead-Acid Batteries
Flow Batteries
Vanadium Redox
Others Storage Technologies
Microgrid Software Technologies
Microgrid Software as a Service
Automated Demand Response
Substation Automation
Distribution Automation (DA)
Microgrid Services
Engineering and Design
Monitoring and Control
Operations and Maintenance
The Economics of Microgrids
Microgrid Project Economics
Business Models
Revenue Implications of Microgrids
Microgrid Security
Safety, Islanding, and Energy Storage Standards
The Microgrid Value Chain
Standardization and Interoperability
Offering a Total Solution
Advantages and Disadvantages of Microgrids
The Future of Microgrids
Chapter 4 Market Breakdown by Product Type
Global Microgrid Market
Microgrid Hardware Market
Microgrid Software Market
Microgrid Services Market
Chapter 5 Market Breakdown by Connection Type
Global Microgrid Market by Connection
Grid-connected Microgrid Market
Remote/Island Microgrid Market
Hybrid Microgrid Market
Chapter 6 Market Breakdown by Power Source
Global Microgrid Market by Power Source
Diesel-Powered Microgrid Market
CHP-Powered Microgrid Market
Solar PV-Powered Microgrid Market
Wind-Powered Microgrid Market
Others Powered Microgrid Market
Chapter 7 Market Breakdown by Application
Global Microgrid Market by Application End User
Healthcare/Government Microgrid Market
Institutional Microgrid Market
Commercial and Industrial Microgrid Market
Military Microgrid Market
Community/Utility Microgrid Market
Remote, Island and Village Microgrid Market
Chapter 8 Market Breakdown by Region
Global Microgrid Market by Region
North American Microgrid Market
Asia-Pacific Microgrid Market
European Microgrid Market
Latin American Microgrid Market
African Microgrid Market
Middle East Microgrid Market
Chapter 9 Patent Review/New Developments
Trends Over Time
Patent Review by Software
Patent Review by Storage
Other Relevant Patents
Patent Review by Country
Patent Review by Assignee
Chapter 10 Analysis of Market Opportunities
Trends and Opportunities
Outlook for the Microgrid Technologies Market
Cost and Technology
Market
Financing and Business Model Identification
Regulation as a Barrier to Growth
Chapter 11 Company Profiles
ABB LTD.
ALSTOM POWER LTD.
AMPARD AG
ANBARIC TRANSMISSION LLC
AQUION ENERGY
AZURE POWER GLOBAL LTD.
BLACK & VEATCH
BOSCH BUILDING GRID TECHNOLOGIES (BGT)
BURNS ENGINEERING
BYD COMPANY LTD.
CANADIAN SOLAR SOLUTIONS INC.
CAPSTONE TURBINE CORP.
CARNEGIE CLEAN ENERGY LTD.
CATERPILLAR INC.
CENERGY POWER
CHINA SINGYES SOLAR TECHNOLOGIES HOLDINGS LTD.
CLEANSPARK INC.
CONSTELLATION ENERGY GROUP INC.
EATON CORP. PLC.
ELECTRO POWER SYSTEMS SA
ENCORP INC.
ENSYNC, INC.
ENERDEL INC.
ENGIE SA
EXELON CORP.
FIRST SOLAR INC.
FLUIDIC ENERGY
FOCUSED SUN
G&S SOLAR INSTALLERS LLC.
GENERAL ELECTRIC CO.
GENERAL MICROGRIDS INC.
GRAM POWER INDIA PVT. LTD.
GREEN ENERGY CORP.
HITACHI LTD.
HOMER ENERGY LLC.
HUSK POWER SYSTEMS PVT. LTD.
JOHNSON CONTROLS INC.
KOMAIHALTEC INC.
LANDIS & GYR AG
LOCKHEED MARTIN CORP.
MERA GAO POWER PVT. LTD.
MITSUBISHI ELECTRIC CORP.
MITSUI & CO. LTD.
MOIXA ENERGY HOLDINGS LTD.
NEC ENERGY SOLUTIONS INC.
NRG ENERGY INC.
NUSCALE POWER LLC
OMC POWER PTE. LTD.
PARETO ENERGY LTD.
PARKER HANNIFIN CORP.
POWER ANALYTICS CORP.
POWERHIVE INC.
POWERSTREAM
PRINCETON POWER SYSTEMS
RAYTHEON
S&C ELECTRIC CO.
SCHNEIDER ELECTRIC SE
SELCO SOLAR PVT. LTD.
SIEMENS AG
SOLAR CITY CORP.
SPIRAE INC.
STEAMA CO. LTD.
SUN EDISON LLC
SUNGEVITY INC.
SUNGROW POWER SUPPLY CO. LTD.
SUNPOWER CORP.
SUNRUN INC,
SUNVERGE ENERGY INC.
TESLA INC.
TOSHIBA CORP.
TRINITY SOLAR INC.
VERENGO INC.
VICTRON ENERGY B.V.
VIRIDITY ENERGY INC.
VIVINT SOLAR INC.
WELSPUN ENERGY LTD.
ZF ENERGY DEVELOPMENT LLC
Chapter 12 Appendix

List of Tables
Summary Table : Global Market for Microgrid Technologies, by Connection Type, Through 2022
Table 1 : Small to Pico Hydroelectric Power Plant Sizes
Table 2 : Mechanical and Electrical Energy Storage Systems
Table 3 : Global Market for Microgrid Technology, by Product Type, Through 2022
Table 4 : Global Market for Microgrid Hardware Technology, Through 2022
Table 5 : Global Market for Microgrid Software Technology, Through 2022
Table 6 : Global Market for Microgrid Services, Through 2022
Table 7 : Global Market for Microgrid Technology, by Connection Type, Through 2022
Table 8 : Global Market for Grid-connected Microgrids, Through 2022
Table 9 : Global Market for Remote Microgrids, Through 2022
Table 10 : Global Market for Hybrid Microgrids, Through 2022
Table 11 : Global Market for Microgrid Technology, by Power Source, Through 2022
Table 12 : Global Market for Microgrid Technology, by Diesel Power Source, Through 2022
Table 13 : Global Market for Microgrid Technology, by CHP Power Source, Through 2022
Table 14 : Global Market for Microgrid Technology, by Solar PV Power Source, Through 2022
Table 15 : Global Market for Microgrid Technology, by Wind Power Source, Through 2022
Table 16 : Global Market for Microgrid Technology, by Other Powered Source, Through 2022
Table 17 : Global Market for Microgrid Technology, by Application End User, Through 2022
Table 18 : Global Market for Healthcare and Government Microgrids, Through 2022
Table 19 : Global Market for Institutional Microgrids, Through 2022
Table 20 : Global Market for Commercial and Industrial Microgrids, Through 2022
Table 21 : Global Market for Military Microgrids, Through 2022
Table 22 : U.S. Military Bases with Microgrids
Table 23 : Global Market for Community and Utility Microgrids, Through 2022
Table 24 : Global Market for Remote, Island and Village Microgrids, Through 2022
Table 25 : Announced Island Microgrid Projects
Table 26 : Global Market for Microgrid Technology, by Region, Through 2022
Table 27 : North American Market for Microgrid Technology, Through 2022
Table 28 : Asia-Pacific Market for Microgrid Technology, Through 2022
Table 29 : European Market for Microgrid Technology, Through 2022
Table 30 : Latin American Market for Microgrid Technology, Through 2022
Table 31 : African Market for Microgrid Technology, Through 2022
Table 32 : Middle Eastern Market for Microgrid Technology, Through 2022
Table 33 : Key Microgrid Drivers, Developed vs. Developing Regions
Table 34 : Abbreviations Used in Microgrid Technologies Market Report
Table 35 : Report Sources

RESEARCH METHODOLOGY

A research methodology is a systematic approach for assessing or conducting a market study. Researchers tend to draw on a variety of both qualitative and quantitative study methods, inclusive of investigations, survey, secondary data and market observation.

Such plans can focus on classifying the products offered by leading market players or simply use statistical models to interpret observations or test hypotheses. While some methods aim for a detailed description of the factors behind an observation, others present the context of the current market scenario.

Now let’s take a closer look at the research methods here.

Secondary Research Model

Extensive data is obtained and cumulated on a substantial basis during the inception phase of the research process. The data accumulated is consistently filtered through validation from the in-house database, paid sources as well reputable industry magazines. A robust research study requires an understanding of the overall value chain. Annual reports and financials of industry players are studied thoroughly to have a comprehensive idea of the market taxonomy.

Primary Insights

Post conglomeration of the data obtained through secondary research; a validation process is initiated to verify the numbers or figures. This process is usually performed by having a detailed discussion with the industry experts.

However, we do not restrict our primary interviews only to the industry leaders. Our team covers the entire value chain while verifying the data. A significant number of raw material suppliers, local manufacturers, distributors, and stakeholders are interviewed to make our findings authentic. The current trends which include the drivers, restraints, and opportunities are also derived through the primary research process.

Market Estimation

The market estimation is conducted by analyzing the data collected through both secondary and primary research. This process involves market breakdown, bottom-up and top- down approach.

Moreover, while forecasting the market a comprehensive statistical time series model is designed for each market. Macroeconomic indicators are considered to understand the current trends of the market. Each data point is verified by the process of data triangulation method to arrive at the final market estimates.

Final Presentation

The penultimate process results in a holistic research report. The study equips key industry players to undertake significant strategic decisions through the findings. The report encompasses detailed market information. Graphical representations of the current market trends are also made available in order to make the study highly comprehensible for the reader.

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Microgrids Technologies Ands Market Size, Type Analysis, Application Analysis, End-Use, Industry Analysis, Regional Outlook, Competitive Strategies And Forecasts, 2023-2032