Microgrid Market is Thriving According to New Report: Opportunities Rise For Stakeholders by 2023

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Worldwide Market Reports added Latest Research Report titled “Global Microgrid Market by Manufacturers, Countries, Type and Application, Forecast to 2023” to its Large Report database.

Microgrid is a localized power system comprised of distributed generation assets, energy storage devices, and smart distribution technologies that interoperates through controls and software-based intelligence systems.

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Scope of the Report:

This report studies the Microgrid market status and outlook of Global and major regions, from angles of players, countries, product types and end industries; this report analyzes the top players in global market, and splits the Microgrid market by product type and applications/end industries.

North America is currently the largest microgrid market, having captured nearly half of all vendor revenue activity. The region holds a nearly identical market share (48.59%) compared with data presented in 2016

ABB, GE and Echelon captured the top three revenue share spots in the Microgrid market in 2016. ABB dominated with 7.53 percent revenue share, followed by GE with 5.64 percent revenue share and Echelon with 5.03 percent revenue share.

The second place is Asia regions; following North America with the Revenue market share over 27.83% in 2016. Europe is another important consumption market of Microgrid Technology.

Microgrid Technology used in industry including Campus/Institutional Microgrid, Community/Utility Microgrid, Commercial/Industrial Microgrid, Military Microgrid and Remote Microgrid. Report data showed that 41.79% of the Microgrid Technology market demand in Campus/Institutional Microgrid, 24.24% in Commercial/Industrial Microgrid, and 21.28% in Community/Utility Microgrid in 2016. There are two kinds of Microgrid Technology, which are Grid-Tied Type Microgrid and Independent Type Microgrid. Grid-Tied Type Microgrid is important in the Microgrid Technology, with a Installed Capacity market share nearly 78.30% in 2016.

Briefly speaking, in the next few years, Microgrid Technology industry will still be a rapid development industry. Sales of Microgrid Technology have brought a lot of opportunities, there will more companies enter into this industry, especially in developing countries.

The global Microgrid market is valued at 11400 million USD in 2017 and is expected to reach 26300 million USD by the end of 2023, growing at a CAGR of 15.0% between 2017 and 2023.

The Asia-Pacific will occupy for more market share in following years, especially in China, also fast growing India and Southeast Asia regions.

North America, especially The United States, will still play an important role which cannot be ignored. Any changes from United States might affect the development trend of Microgrid.

Europe also play important roles in global market, with market size of xx million USD in 2017 and will be xx million USD in 2023, with a CAGR of xx%.

** The Values marked with XX is confidential data. To know more about CAGR figures fill in your information so that our business development executive can get in touch with you.

Market Segment by Companies, this report covers

ABB

GE

Echelon

S&C Electric Co

Siemens

General Microgrids

Microgrid Solar

Raytheon

Sunverge Energy

Toshiba

NEC

Aquion Energy

EnStorage

SGCC

Moixa

EnSync

Ampard

Green Energy Corp

Growing Energy Labs Inc

HOMER Energy

Spirae, Inc.

Market Segment by Regions, regional analysis covers

North America (United States, Canada and Mexico)

Europe (Germany, France, UK, Russia and Italy)

Asia-Pacific (China, Japan, Korea, India and Southeast Asia)

South America (Brazil, Argentina, Colombia)

Middle East and Africa (Saudi Arabia, UAE, Egypt, Nigeria and South Africa)

Market Segment by Type, covers

Grid-Tied Type Microgrid

Independent Type Microgrid

Market Segment by Applications, can be divided into

Commercial/Industrial Microgrid

Community/Utility Microgrid

Campus/Institutional Microgrid

Military Microgrid

Remote Microgrid

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